v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (5,970,105) $ (10,978,791) $ (6,726,689)
Adjustments to reconcile net loss to net cash used in operating activities:      
Provision of expected credit loss 2,742,620 525,289 470,265
Write-down of inventories 115,849 156,453 99,761
Depreciation and amortization 177,938 250,625 120,041
Amortization of operating lease right-of-use assets 342,992 334,128 410,042
Provision/(reversal on provision) of refund liabilities 1,547 (1,065) 2,334
Gain/(loss) from early termination of an operating lease 4,107 (35,845)
Unrealized loss of foreign exchange 111,621 657,504 177,533
Gain from disposal of property and other equipment (320,716) (227,797)
Gain on fair value change of derivative liability (2,481,099)
Accounts receivable (4,978,637) (2,727,412) (87,617)
Inventories 1,679,859 (850,886) 1,746,905
Advances to suppliers 1,498,233 (869,836) (554,897)
Prepaid expenses and other current assets (146,833) 93,338 (286,670)
Amount due from related parties (952,469) 12,552 (150,360)
Other non-current assets 71,431 (99,125)
Accounts payable 1,037,972 212,272 642,152
Accrued expenses and other current liabilities (1,480,689) 377,122 325,636
Amount due to related parties 2,963,874 7,840,500 1,250,249
Advances from customers (295,486) (123,561) (1,521,442)
Operating lease liabilities (405,497) (299,143) (493,976)
Net cash used in operating activities (6,354,919) (5,547,277) (4,711,703)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property and equipment (154,969) (119,292) (1,995,847)
Disposal of property and other equipment 2,427,025 1,781,754
Receipt of deposit for disposal transaction of a building 63,545
Net cash (used in)/provided by investing activities 2,272,056 1,726,007 (1,995,847)
CASH FLOWS FORM FINANCING ACTIVITIES      
Capital injection 2,369,099
Payment to related parties for equity transfer of operating subsidiaries (5,389,467)
Proceeds from related parties 5,887,375 12,318,641 5,134,247
Proceeds from short term borrowings 3,458,369
Proceeds from long-term borrowings 782,917
Repayments of long-term borrowings (531,027) (1,033,697) (350,690)
Payment of deferred offering costs (26,369)
Repayments of loans from related parties (6,119,288) (2,173,372) (851,187)
Proceeds from exercise of OET 238,817
Cash inflow from reverse recapitalization 256,775
Net cash provided by financing activities 3,164,652 3,722,105 7,084,386
Effect of exchange rate changes 69,717 (221,946) (9,176)
Net change in cash (848,494) (321,111) 367,660
Cash beginning of the year 2,646,635 2,967,746 2,600,086
Cash end of the year 1,798,141 2,646,635 2,967,746
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Income tax paid 94,325 46 2,834
Interest expense paid 3,339 20,908 51,148
Cash paid for operating leases 382,277 386,370 552,534
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES      
Additions of operating lease right-of-use assets in exchange of operating lease liabilities 715,386 19,986 565,415
Disposal of operating lease right-of-use assets in exchange of operating lease liabilities (302,558) (430,592)
Deferred offering costs paid by related parties in the current period 1,524,770 1,051,425
Unpaid deferred offering costs incurred in the current period $ 84,291