Risks and Uncertainties |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Risks and Uncertainties [Abstract] | |
| RISKS AND UNCERTAINTIES | 22. RISKS AND UNCERTAINTIES
PRC Regulations
There are substantial uncertainties regarding the interpretation and application of PRC laws and regulations, including, but not limited to, the laws and regulations governing the Company’s business and the enforcement and performance of the Company’s arrangements with customers in certain circumstances. The Company is considered foreign persons or foreign funded enterprises under PRC laws and, as a result, the Company is required to comply with PRC laws and regulations related to foreign persons and foreign funded enterprises. These laws and regulations are sometimes vague and may be subject to future changes, and their official interpretation and enforcement may involve substantial uncertainty. The effectiveness of newly enacted laws, regulations or amendments may be delayed, resulting in detrimental reliance. New laws and regulations that affect existing and proposed future businesses may also be applied retroactively. The Company cannot predict what effect the interpretation of existing or new PRC laws or regulations may have on the Company’s business.
Customer concentration risk
For the three months ended March 31, 2026, two customers accounted for 22.19% and 11.29% of the Company’s total revenue, respectively. For the three months ended March 31, 2025, no customer individually represented greater than 10% of the Company’s total revenues.
Vendor concentration risk
For the three months ended March 31, 2026, two vendors accounted for 41.84% and 33.69% of the Company’s total purchases, respectively. For the three months ended March 31, 2025, one vendor accounted for 71.19% of the Company’s total purchases. |