v3.26.1
Significant Risks and Uncertainties (Tables)
12 Months Ended
Dec. 31, 2025
Significant Risks and Uncertainties [Abstract]  
Schedule of Concentration Risks Percentage

The following customers represent more than 10% of the Group’s total revenues for the years ended December 31, 2023, 2024 and 2025:

 

For the years ended December 31,

   

2023

 

2024

 

2025

Customer A

 

15.6

%

 

15.2

%

 

15.7

%

Customer J

 

*

 

 

16.6

%

 

*

 

Customer K

 

*

 

 

16.0

%

 

*

 

*        Represents percentage less than 10%

The following customers represent more than 10% of the Group’s total accounts receivable as of December 31, 2024 and 2025:

 

As of December 31,

   

2024

 

2025

Customer O

 

*

 

 

16.8

%

Customer A

 

*

 

 

13.2

%

Customer L

 

11.7

%

 

*

 

*        Represents percentage less than 10%

The following customers represent more than 10% of the Group’s total advances from customers as of December 31, 2024 and 2025:

 

As of December 31,

   

2024

 

2025

Customer P

 

*

 

 

35.0

%

Customer Q

 

*

 

 

16.0

%

Customer R

 

*

 

 

14.2

%

Customer M

 

43.1

%

 

*

 

Customer H

 

15.4

%

 

*

 

Customer N

 

10.4

%

 

*

 

*        Represents percentage less than 10%

The following suppliers represent more than 10% of the Group’s total purchases for the years ended December 31, 2023, 2024 and 2025:

 

For the year ended December 31,

   

2023

 

2024

 

2025

Supplier P

 

*

 

 

*

 

 

23.9

%

Supplier A

 

18.8

%

 

15.3

%

 

17.4

%

Supplier N

 

*

 

 

18.4

%

 

11.7

%

Supplier D

 

*

 

 

*

 

 

10.7

%

Supplier O

 

*

 

 

17.7

%

 

*

 

Supplier B

 

13.3

%

 

*

 

 

*

 

*        Represents percentage less than 10%

The following suppliers represent more than 10% of the Group’s accounts payable as of December 31, 2024 and 2025:

 

As of December 31,

   

2024

 

2025

Supplier P

 

18.8

%

 

41.2

%

Supplier Q

 

17.1

%

 

*

 

Supplier R

 

14.0

%

 

*

 

Supplier E

 

12.4

%

 

*

 

*        Represents percentage less than 10%

The following suppliers represent more than 10% of the Group’s advance to suppliers as of December 31, 2024 and 2025:

 

As of December 31,

   

2024

 

2025

Supplier T

 

*

 

 

62.1

%

Supplier S

 

*

 

 

11.4

%

Supplier D

 

41.4

%

 

*

 

Supplier A

 

34.8

%

 

*

 

*        Represents percentage less than 10%