v3.26.1
Schedule I— Parent Company only Condensed Financial Information
 12 Months Ended
Dec. 31, 2025
Schedule I— Parent Company only Condensed Financial Information [Line Items]  
SCHEDULE I— PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

SCHEDULE I— PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

 

Pursuant to the requirements of Rule 12-04(a), 5-04(c) and 4-08(e)(3) of Regulation S-X, the condensed financial information of the parent company shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with such requirements and concluded that it was applicable to the Company as the restricted net assets of the Company’s PRC subsidiary exceeded 25% of the consolidated net assets of the Company. Therefore, the condensed financial statements for the parent company are included herein.

 

For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the Company’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party.

 

Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investments in its subsidiaries

 

The parent company records its investments in its subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investments in subsidiaries” and their respective profit or loss as “Share of (loss) earnings in subsidiaries” on the condensed statements of operations and comprehensive income (loss).

PARENT COMPANY ONLY CONDENSED BALANCE SHEETS

 

   As of December 31, 
   2025   2024 
ASSETS        
Current assets        
Cash  $27,014   $171,327 
Advance to suppliers   
-
    32,000 
Amount due from related party   15,000,000    
-
 
Total current assets  $15,027,014   $203,327 
Non-current assets          
Investment in subsidiaries   9,119,287    8,467,986 
Long-term investments   
-
    1,356,618 
Total assets  $24,146,301   $10,027,931 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
LIABILITIES          
Current liabilities          
Due to related parties  $1,517,717   $1,493,437 
Account payable   11,813    2,363 
Payroll payable   112,500    22,500 
Other payable   450,497    56,000 
Total liabilities  $2,092,527   $1,574,300 
SHAREHOLDERS’ EQUITY          
Ordinary shares (Par value $0.002 per share, 25,000,000 shares authorized, 34,198 shares issued and outstanding as of December 31, 2024)   
-
    68 
Class A Ordinary shares (Par value $0.002 per share, 24,989,545 shares authorized, 101,275 issued and outstanding as of December 31, 2025)   202    
-
 
Class B Ordinary shares (Par value $0.002 per share, 10,455 shares authorized, 10,455 issued and outstanding as of December 31, 2025)   21    
-
 
Additional paid-in-capital   22,832,075    7,620,339 
Retained earnings (accumulated deficit)   (534,294)   1,252,783 
Accumulated other comprehensive loss   (244,230)   (419,559)
Total shareholders’ equity   22,053,774    8,453,631 
Total liabilities and shareholders’ equity  $24,146,301   $10,027,931 

PARENT COMPANY ONLY CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

 

   For the Years Ended
December 31,		 
   2025   2024 
Share of earnings (losses) in subsidiaries  $451,693   $(3,835,690)
Other-than-temporary impairment   (1,356,618)   (1,121,382)
General and administrative expenses   (881,565)   (722,123)
Non-operating revenue   (587)   113 
Net income (loss)   (1,787,077)   (5,679,082)
Foreign currency translation adjustment   175,329    (37,187)
Comprehensive income (loss)  $(1,611,748)  $(5,716,269)

PARENT COMPANY ONLY CONDENSED STATEMENTS OF CASH FLOWS 

 

   For the Years Ended December 31, 
   2025   2024 
Net cash provided by (used in) operating activities   (666,802)   (643,769)
Purchase of long-term investment   
-
    (2,478,000)
Net cash used in investing activities   
-
    (2,478,000)
Proceeds from third party loans   310,598    
-
 
Proceeds from Issuance of Class A Ordinary shares   211,891    
-
 
Proceeds from initial public offering, net   
-
    3,293,096 
Net cash provided by (used in) financing activities   522,489    3,293,096 
Net increase (decrease) in cash and cash equivalents   (144,313)   171,327 
Cash and cash equivalents at the beginning of the year   171,327    
-
 
Cash and cash equivalents at the end of the year  $27,014   $171,327