| FIXED DEPOSIT |
NOTE 10 – FIXED DEPOSIT
As of March 31, 2026 and December 31, 2025, fixed
deposit consisted of the following:
| | |
As of | |
| | |
March 31, 2026 | | |
December 31,
2025 | |
| Three-year bank deposit-current | |
$ | 1,500,264 | | |
$ | 2,966,386 | |
| Three-year bank deposit-non current | |
| 7,474,063 | | |
| 4,421,828 | |
| Total | |
$ | 8,974,327 | | |
$ | 7,388,214 | |
All fixed deposits were deposited in local banks
in the PRC, each with a deposit term of three years. As of March 31, 2026, the Company had four outstanding term deposits with the following
maturity dates and annual interest rates:
| (1) | approximately $1.47 million with China Zheshang Bank, maturing on December 5, 2028, bearing interest at 1.90% per annum; |
| (2) | approximately $1.52 million with China Zheshang Bank, maturing on June 27, 2027, bearing interest at 2.60% per annum; |
| (3) | approximately $3.03 million with China Zheshang Bank, maturing on September 27, 2027, bearing interest at 2.40% per annum; |
| (4) | approximately $1.50 million with Bank of Ningbo, maturing on September 21, 2026, bearing interest at 3.00% per annum. |
| (5) | approximately $1.46 million with Bank of Ningbo, maturing on January 15, 2029, bearing interest at 3.00% per annum. |
|