v3.26.1
BANK LOANS
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
BANK LOANS

11. BANK LOANS

 

In September 2024, the Company’s subsidiary, Tianjin Lobo entered into a line of credit agreement of $410,998 (RMB3,000,000) with a financing company at an annual interest rate of 8.89%. The Company pays principal and interest monthly, and the credit agreement expires on August 31, 2027. $132,777 of the principal are due in 2025 thus classified as short-term, and remaining $236,513 of the principal is classified as long-term as of December 31, 2024; $151,429 of the principal is classified as short-term, and remaining $95,441 of the principal is classified as long-term as of December 31, 2025.

 

In 2025, the Company’s subsidiaries, Jiangsu Lobo and Tianjin Lobo entered into line of credit agreements and have drawn a total of $2,817,062 (RMB19,700,000) with multiple banks in PRC at annual interest rates between 2.7% and 3.45%. The Company pays interest monthly or quarterly, and pays principal when each tranche of the borrowings expires between April and December of 2026. All of the principal of $2,817,062 are classified as short-term as of December 31, 2025.

 

Short-term and long-term loans consisted of the following as of December 31, 2025 and 2024:

 

   As of   As of 
   December 31,   December 31, 
   2025   2024 
Short-term loans  $2,817,062   $- 
Current portion, Long-term loans   151,429    132,777 
Total Short-term   2,968,491    132,777 
Non-current portion, Long-term loans   95,441    236,513 
Total  $3,063,932   $369,290 

 

Short-term loans consisted of the following as of December 31, 2025:

 

 SCHEDULE OF SHORT TERM LOAN

Bank Name  Amount-RMB   Amount - USD   Issuance Date  Expiration Date  Interest 
ABC Limited, Wuxi Liangxi Sub-branch   3,500,000    500,494   2025/12/27  2026/10/25   3.05%
Bank of China Limited, Wuxi Huishan Sub-branch   5,000,000    714,990   2025/4/29  2026/4/15   3.01%
Bank of Nanjing Co., Ltd. Wuxi Branch   4,000,000    571,992   2025/9/25  2026/9/23   3.10%
China Construction Bank, Tianjin Wuqing Sub-branch   5,000,000    714,990   2025/7/8  2026/7/8   3.45%
ICBC Limited, Wuxi Xishan Sub-branch   2,200,000    314,596   2025/12/30  2026/12/30   2.70%
Total   19,700,000    2,817,062            

 

The following is a maturity analysis of long-term loans as of December 31, 2025:

 

   RMB   USD 
Years ending December 31,          
2026   1,058,956    151,429 
2027   667,426    95,441 
Total long-term loans   1,726,382   $246,870 

 

For the years ended December 31, 2025, 2024 and 2023, the Company recorded interest expenses of $82,481, $35,701 and $7,929, respectively.