v3.26.1
Concentration Risk
 3 Months Ended
Mar. 31, 2026
Concentration Risk [Abstract]  
CONCENTRATION RISK
18. CONCENTRATION RISK

 

Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of accounts receivable. The Group conducts credit evaluations of its customers and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding balances to determine the need for an allowance for credit losses. The Group conducts periodic reviews of the financial condition and payment practices of its customers to minimize collection risk on accounts receivable.

The following table sets forth a summary of single customers who represent 10% or more of the Group’s total revenue.

 

   For the three months ended
March 31,		 
   2025   2026 
   (Unaudited)   (Unaudited) 
Percentage of the Group’s total revenue          
Customer A   11%   27%
Customer B   * %   17%
Customer C   21%   * %
Customer D   15%   * %

 

The following table sets forth a summary of single customers who represent 10% or more of the Group’s total accounts receivable:

 

   As of
December 31,		   As of
March 31,		 
   2025   2026 
   (Audited)   (Unaudited) 
Percentage of the Group’s accounts receivable          
Customer E   12%   15%
Customer D   13%   *%

 

The following table sets forth a summary of each supplier who represent 10% or more of the Group’s total purchase:

 

   For the three months ended
March 31,		 
   2025    2026 
   (Unaudited)    (Unaudited) 
Percentage of the Group’s total purchase         
Supplier A               *%    16%
Supplier B   14%    13%
Supplier C   16%    11%
Supplier D   11%    *%

 

* represent percentage less than 10%