NOTE 9 - SHORT-TERM LOANS
As of December 31, 2025 and 2024, the loans were for working capital
and capital expenditures. Loans consisted of the following:
| Creditor | | Interest
rate | | | Issuance
Date | | Maturity
date | | As of
December 31,
2025 | | | As of
December 31,
2024 | | | Wuxi Branch of Bank of China | | | 3.7 | % | | 2023/2/28 | | 2024/2/27 | | | - | | | | - | | | Wuxi Branch of Bank of China | | | 2.95 | % | | 2024/2/21 | | 2025/2/20 | | | - | | | | 1,391,130 | | | Wuxi Branch of Bank of China* | | | 3.30 | % | | 2025/2/18 | | 2026/2/17 | | | - | | | | - | | | Wuxi Branch of Bank of China | | | 2.30 | % | | 2025/12/18 | | 2026/12/17 | | | 1,422,718 | | | | - | | | Total | | | | | | | | | | $ | 1,422,718 | | | $ | 1,391,130 | |
| * | On February 18, 2025, Wuxi Mingteng Mould entered into a short-term
loan agreement with Bank of Jiangsu with principal amount of RMB 10 million (approximately $1.4 million), with an annual interest rate
of 3.30% and maturity date as of February 17, 2026, the Company repaid the loan in advance on December 18, 2025. |
|