v3.26.1
Concentrations and Credit Risk (Tables)
 3 Months Ended
Mar. 31, 2026
Concentrations and Credit Risk [Abstract]  
Schedule of Concentration Risk

The Company had the following customers that individually comprised 10% or more of net revenue for the three months ended March 31, 2025 and 2026 as follows:

 

   Three months ended March 31, 
Sales of finished goods and raw materials  2025   2026 
Customer A  $10,731,179    30.7%   *    * 
Zhenghzhou BAK (note 16)   *    *    8,139,436    11.7%

 

* Comprised less than 10% of net revenue for the respective period.

 

The Company had the following customers that individually comprised 10% or more of net trade receivable (included VAT) as of December 31, 2025 and March 31, 2026 as follows:

 

    December 31,
2025		     Marh 31,
2026		  
Customer A   $ 3,932,534       14.1 %   $
*
      
*
  
Zhengzhou BAK (note 16)     4,836,152       17.4 %     8,468,034       25.5 %

 

* Comprised less than 10% of net accounts receivable for the respective period.

The Company had the following suppliers that individually comprised 10% or more of net purchase for the three months ended March 31, 2025 and 2026 as follows:

 

   Three months ended March 31, 
   2025   2026 
Supplier A  $3,619,451    11.2%  $13,542,101    16.9%
Supplier B   *    *     9,994,299    12.5%

 

* Comprised less than 10% of net purchase for the respective period.

  

The Company had the following suppliers that individually comprised 10% or more of trade payable as of December 31, 2025 and March 31, 2026 as follows:

 

    December 31,
2025		     March 31,
2026		  
Supplier A   $ *       *     $  13,005,167       15.1 % 
Supplier B     *       *       9,999,850       11.6 %
Supplier C     7,202,042       12.0 %     *       *