v3.26.1
Notes Payable
3 Months Ended
Mar. 31, 2026
Notes Payable [Abstract]  
NOTES PAYABLE

NOTE 11 – NOTES PAYABLE

 

   As of 
   March 31,
2026
   December 31,
2025
 
Bank acceptance notes  $16,440,997   $12,759,720 
Total  $16,440,997   $12,759,720 

 

The interest-free notes payable, ranging from six months to one year from the date of issuance, were secured by $0.22 million and $0.07 million restricted cash, and $5.88 million and $3.43 million notes receivable, as of March 31, 2026 and December 31, 2025, respectively.

 

All the notes payable are subject to bank charges of 0.05% of the principal amount as commission, included in the financial expenses in the statement of operations, on each loan transaction. The notes payable bears no interests.