v3.26.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2026
Summary of Significant Accounting Policies [Abstract]  
Schedule of Translation of Amounts from Exchange Rates

Translation of amounts from Vietnam Dong (“VND”) and Renminbi (“RMB”) into USD has been made at the following exchange rates for the respective periods:

 

   March 31,
2026		   December 31,
2025		 
VND exchange rate for balance sheet items, except for equity accounts   26,328    26,291 
RMB exchange rate for balance sheet items, except for equity accounts   6.9038    6.9956 
   For the Three Months Ended
March 31,		 
   2026   2025 
VND exchange rate for items in the statement of operations and comprehensive income, and statement of cash flows   26,169    25,414 
RMB exchange rate for items in the statement of operations and comprehensive income, and statement of cash flows   6.9273    7.2725 
Schedule of Disaggregates the Company’s Revenues

For the three months ended March 31, 2026, the Company disaggregate revenue into three streams as the following table: 

 

   For the Three Months Ended
March 31,		 
   2026   2025 
Revenues to third parties:        
Sales of solar cells  $92,924,036   $41,023,361 
Sales of solar modules   1,693,364    
—
 
Provision of OEM services   12,198,344    
—
 
    106,815,744    41,023,361 
Revenues to related parties:          
Sales of solar cells   21,689,880    9,263,896 
Sales of solar modules   14,267,834    
—
 
Provision of facilitation services   
—
    1,257,254 
    35,957,714    10,521,150 
Total revenue  $142,773,458   $51,544,511 
Schedule of Movement of Contract Liabilities

For the three months ended March 31, 2026 and 2025, the movement of contract liabilities, including related parties and third parties was as follows:

 

   For the Three Months Ended
March 31,		 
   2026   2025 
Opening balance  $107,940,684   $23,733,705 
Addition of contract liabilities   172,738,247    13,142,036 
Revenue recognition during the year   (103,666,107)   (3,584,052)
Net off gross billing to the OEM customers   (43,635,731)   
—
 
Foreign exchange adjustment   46,206    274,345 
Ending balance  $133,423,299   $33,566,034 
Contract liabilities – third party customers  $48,718,679   $3,243,062 
Contract liabilities – related party customers  $84,704,620   $30,322,972 
Schedule of Disaggregates the Company’s Revenues The following table disaggregates the Company’s revenues by primary geographical markets based on the location of customers for the three months ended March 31, 2026 and 2025.
   For the Three Months Ended
March 31,		 
   2026   2025 
USA  $116,097,127   $31,171,134 
Other areas   26,676,331    20,373,377 
Total  $142,773,458   $51,544,511 
Schedule of Disaggregates the Geographic Information

The following table disaggregates the geographic information of the Company’s long-lived assets, which consist of long-term prepaid expenses, deposits for property and equipment, property and equipment and operating lease right-of-use assets, as of March 31, 2026 and December 31, 2025.

 

    March 31,
2026		     December 31,
2025		  
Vietnam   $ 76,206,343     $ 77,615,854  
USA     43,055,025       42,541,090  
Ethiopia     137,087,327       142,456,332  
Total   $ 256,348,695     $ 262,613,276