v3.26.1
Deferred Revenue
 3 Months Ended
Mar. 31, 2026
Deferred Revenue [Abstract]  
DEFERRED REVENUE

NOTE 14 – DEFERRED REVENUE

 

Deferred revenue is summarized as follow:

 

   As of 
   March 31, 2026   December 31,
2025		 
Subsidy   1,039,241    1,083,784 
Total  $1,039,241   $1,083,784 

 

Changes in the deferred revenue are as follows:

 

    For the
three months
ended
March 31,
2026		     For the
Year Ended
December 31,
2025		  
Beginning balance   $ 1,083,784     $ 1,263,180  
Recognized as revenue during the year     (59,281 )     (228,357 )
Effect of foreign exchange change     14,738         48,961  
Ending balance   $ 1,039,241     $ 1,083,784  

 

Subsidy mainly consists of an incentive granted by the Chinese government to encourage transformation of fixed assets in China and other miscellaneous subsidy from the Chinese government. As of March 31, 2026, grant income decreased by $0.22 million, as compared to December 31, 2025. The change was mainly due to timing of incurring qualifying expenses.