v3.26.1
Short-Term Borrowings
 12 Months Ended
Dec. 31, 2025
Short-Term Debt [Abstract]  
SHORT-TERM BORROWINGS

NOTE 12 – SHORT-TERM BORROWINGS

 

Short-term borrowings from financial institutions consisted of the following on December 31, 2025:

 

Bank Name  Amount – RMB   Amount – USD   Issuance Date   Expiration Date   Interest 
Bank of Wenzhou   11,500,000    1,644,478   2025.10.30   2026.10.28    4.25%
Bank of China   10,000,000    1,429,981   2025.01.17   2026.01.16    2.70%
Huaxia Bank   10,000,000    1,429,981   2025.09.29   2026.09.20    2.85%
Huaxia Bank   20,000,000    2,859,962   2025.09.29   2026.09.20    2.65%
Industrial and Commercial Bank of China   6,500,000    929,488   2025.03.20   2026.03.20    2.80%
Total  RMB58,000,000   $8,293,890              

 

Short-term borrowings from financial institutions consisted of the following on December 31, 2024:

 

Bank Name  Amount – RMB   Amount – USD   Issuance Date   Expiration Date   Interest 
Minsheng Bank   1,000,000    136,999   2024.06.27   2025.01.03    3.50%
Bank of Ningbo   5,000,000    684,997   2024.06.13   2025.06.13    2.80%
Bank of Ningbo   1,706,808    233,832   2024.10.30   2025.04.28    2.75%
Total  RMB7,706,808   $1,055,828              

 

The Company’s short-term bank borrowings are guaranteed by the Company’s major shareholders, their immediate family members, and related companies. For the years ended December 31, 2025, 2024, and 2023, interest expenses on short-term borrowings from financial institutions amounted to $116,349, $47,176, and $165,247, respectively.