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)/income $ (5,476,695) $ (845,841) $ 986,471
Adjustment to reconcile net (loss)/income to net cash used in operating activities      
Depreciation and amortization 710,476 1,004,089 722,778
Gain on disposal of property and equipment (17,815)
Realized and unrealized gain on short-term investments (270,011) (15,632)
Class A ordinary shares issued for consulting services 1,076,875
Loss on sale of long-term investments 13,319
Amortization of operating lease right-of-use assets 428,072 370,283 181,791
Gain on disposal of subsidiaries (50,907) (836,112)
Unrealized loss on assets held for sale 455,938
Amortization of convertible note issuance costs 1,634,150 11,970
Changes in operating assets and liabilities      
Accounts receivable (1,493,138) 617,183 437,684
Inventories (710,006) (4,658,182) (2,038,096)
Prepaid expenses and other current assets 4,510,096 (2,426,075) (4,021,436)
Deferred tax assets (61,923) (178,494)
Deferred tax liabilities 147,216
Accounts payable (533,286) 1,386,960 (816,530)
Advance from customers 138,452 363,803 1,409,334
Other current payables (2,074,303) 1,241,012 (42,482)
Taxes payable 427,980 923,896 1,871,485
Operating lease liabilities (104,277) (332,159) (120,936)
Net cash used in operating activities (1,701,229) (2,935,176) (1,416,618)
CASH FLOWS FROM INVESTING ACTIVITIES      
Interest-free loans to related parties (16,896,831)
Interest-free loans repaid by related parties 20,319,617
Purchase of short-term investment (4,424,736) (125,075) (70,275)
Sales of short-term investment 3,959,958 71,869
Proceeds from disposal of subsidiaries 208,696 94,640
Purchase of property and equipment (427,099) (325,257) (314,197)
Purchase of intangible assets (2,363) (985,995)
Additional consideration paid for reorganization (1,437,646)
Net cash (used in)/provided by investing activities (685,544) (283,823) 614,673
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds of interest-free loans from related parties 1,382,936 8,747,287 4,811,327
Repayments of interest-free loans to related parties (2,629,958) (9,246,025) (3,658,828)
Proceeds from issuance of convertible bonds, net of issuance costs 1,500,850
Repayments of short-term loans (793,043) (197,715)
Proceeds of long-term loans 239,919 141,225
Proceeds from short-term loans 3,533,913 190,277
Proceeds from issuance of ordinary shares 3,180,963
Payment for repurchase of Class A ordinary shares (74)
Repayments of long-term loans (134,842)  
Net cash provided by financing activities 1,358,932 4,613,271 1,096,009
Effect of exchange rate changes on cash and cash equivalents 46,592 24,983 (6,558)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (981,249) 1,419,255 287,506
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year 1,889,590 470,335 182,829
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year 908,341 1,889,590 470,335
RECONCILATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year      
Cash, cash equivalents 1,379,434 470,335 182,829
Restricted cash 510,156
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year 1,889,590 470,335 182,829
RECONCILATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year      
Cash, cash equivalents 908,341 1,379,434 470,335
Restricted cash 510,156
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year 908,341 1,889,590 470,335
SUPPLEMENTAL CASH FLOW INFORMATION      
Income taxes (657) (239)
Interest 49,713 20 408
NON-CASH TRANSACTIONS      
Addition of right-of-use assets 360,775 999,805 273,334
Other payables released from the sale of property and equipment 19,456
Fair value adjustment for Pre-Delivery ordinary shares related to the issuance of convertible notes 1,499,150
Other payables released from the sale of subsidiaries 3,547,826 1,183,624
Class A ordinary shares issued upon conversion of convertible note payable and accrued interest 1,687,108
Debt offsetting with related party and third party $ 293,061