| OTHER RECEIVABLES, NET |
4. OTHER RECEIVABLES, NET
Other receivables, net, consist of the following:
| | |
March 31, | | |
December 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Other receivables(1) | |
$ | 9,664,465 | | |
$ | 9,373,193 | |
| Receivable for prepaid purchases(2) | |
| 618,438 | | |
| 570,400 | |
| Unsettled stocks | |
| 161,503 | | |
| 860,195 | |
| Interest receivable | |
| 138,572 | | |
| 19,260 | |
| Others | |
| 18,791 | | |
| 57,929 | |
| Total other receivables, net | |
$ | 10,601,769 | | |
$ | 10,880,977 | |
| (1) | Other receivables consist mainly
of: 1) the loan amount to Future Commercial Management (Hainan) Co., Ltd., (“Future Hainan”), which was a subsidiary until
December 16, 2025. On December 12, 2025, the Company entered into a “Loan Agreement” with Future Hainan, pursuant to which
the Company loaned an amount of $9.37 million (RMB 65.88 million) to Future Hainan at the annual interest rate of 5%. As of March 31,
2026, the balance of other receivables was $9.66 million. |
| (2) | Receivable for prepaid purchases
has been reclassified from “Advance to Suppliers” due to the cancellation of purchase transactions. |
|