v3.26.1
Consolidated and Combined Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 16,554,152 $ 8,420,771 $ 10,317,181
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 506,379 208,978 115,831
Amortization of operating right-of-use assets 1,963,599 1,942,046 1,450,193
Allowance for obsolete inventories 84,680 279,203 434,729
Written-off inventories (56,420) (54,446) (377,485)
Provision (benefit) for deferred income taxes (36,952) (147,038) 61,716
Provision for allowance for expected credit losses 196,075 3,007 102,010
Written-off accounts receivable (71,667)
Provision for warranty liabilities 6,534,757 6,075,365 4,433,892
Provision for (reversal of) reinstatement cost 119,632 (46,657) 251,688
Non-cash lease expense (2,079,182) (1,892,463) (1,650,140)
Change in fair value of derivative financial instruments 74,765 403,350 (2,841,215)
Written-off property, plant and equipment 39,798 14,443 2
Loss on disposal of property, plant and equipment 1,236
Change in operating assets and liabilities:      
Accounts receivables (9,278,182) (9,547,307) 10,966,279
Inventories (1,601,035) (2,076,712) 1,962,191
Deposit, prepayments, and other receivables (708,101) (135,774) (118,810)
Accounts payable 3,940,150 2,036,106 (1,746,001)
Customer deposits 342,363 (408) 854,034
Accrued liabilities and other payables 1,636,320 (60,821) (1,239,743)
Warranty liabilities (6,441,785) (6,279,163) (5,202,705)
Income tax payable 1,688,579 1,313,725 1,068,847
Net cash provided by operating activities 13,479,592 384,538 18,843,730
Cash flows from investing activities:      
Purchase of property, plant and equipment (1,136,453) (515,509) (275,742)
Advance payment for acquisition of long-term investments (1,000,000)
Net cash used in investing activities (2,136,453) (515,509) (275,742)
Cash flows from financing activities:      
Proceeds from short-term borrowings 56,879,103 40,767,835 35,403,870
Repayments of short-term borrowings (61,745,882) (26,520,262) (54,351,782)
Repayments to related parties (21,060,665) (20,352,298) (30,692,612)
Advances from related parties 12,251,954 20,769,756 27,742,584
Amounts due from related parties - Reorganization and scrapping 4,297,720 (11,947,007) (1,380,994)
Dividend paid to common shareholders (11,800,000)
Net proceeds from initial public offering 3,554,110
Net cash used in financing activities (9,377,770) (5,527,866) (23,278,934)
Effect on exchange rate change on cash and cash equivalents 450,101 (905,513) (74,709)
Net change in cash and cash equivalents 2,415,470 (6,564,350) (4,785,655)
BEGINNING OF YEAR 24,860,621 31,424,971 36,210,626
END OF YEAR 27,276,091 24,860,621 31,424,971
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for income taxes 2,681,286 1,238,497 734,001
Cash paid for interest 942,617 836,098 726,886
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Shares issued for common control acquisition 75,000,000 75,000,000 75,000,000
Related parties balances under offsetting arrangement upon reorganization $ 16,798,359 $ 13,963,468 $ (712,404)