| Leases |
Leases The Company has operating leases primarily for corporate offices, warehouses and showrooms. For the three months ended March 31, 2026 and 2025, total lease expenses were $633,790 and $670,615, respectively. The table below presents the operating lease related assets and liabilities recorded on the Company’s consolidated balance sheets: | | | | | | | | | | | | | As of
March 31, 2026 | | As of
December 31, 2025 | | USD | | USD | | | | | | Operating lease right-of-use assets | $ | 10,569,629 | | | $ | 11,031,892 | | | Operating lease liabilities – current | $ | 1,725,768 | | | $ | 1,700,936 | | | Operating lease liabilities – noncurrent | 9,579,585 | | | 10,012,616 | | | Total operating lease liabilities | $ | 11,305,353 | | | $ | 11,713,552 | |
Information relating to the lease term and discount rate are as follows: | | | | | | | | | | | | | As of
March 31, 2026 | | As of
December 31, 2025 | | | | | | Weighted-average remaining lease term | | | | | Operating leases | 8.1 years | | 8.5 years | | Weighted-average discount rate | | | | | Operating leases | 5.9 | % | | 5.9 | % |
As of March 31, 2026, the maturities of operating lease liabilities were as follows: | | | | | | | For the 12 months ending March 31, | | | 2027 | $ | 2,347,181 | | | 2028 | 2,389,888 | | | 2029 | 2,456,153 | | | 2030 | 1,239,677 | | | 2031 | 1,196,434 | | | Thereafter | 4,421,736 | | | Total lease payments | 14,051,069 | | | Less: imputed interest | (2,745,716) | | | Present value of lease liabilities | $ | 11,305,353 | |
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