v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 325,338 $ 1,170,462
Restricted cash 0 2
Accounts receivable, net 25,149,079 13,385,507
Inventories 5,780,250 27,172,200
Advances to suppliers, net 1,270,335 99,861
Prepayment and other current assets, net 9,807,087 4,174,868
Assets of discontinued operations - current 0 6,301,392
Total current assets 42,332,089 52,304,292
NON - CURRENT ASSETS:    
Property, plant and equipment, net 0 8,532
Intangible assets, net 21,047 32,527
Operating lease right-of-use assets 86,914 0
Deferred tax assets 564,557 2,713,808
Other non-current assets 1,224,300 0
Assets of discontinued operations - non-current 0 6,308,929
Total non - current assets 1,896,818 9,063,796
TOTAL ASSETS 44,228,907 61,368,088
CURRENT LIABILITIES:    
Accounts payable 63,673 12,909,752
Accrued expenses and other payables 1,688,349 2,510,916
Advances from customers 0 539
Due to related parties 592,131 2,200,451
Operating lease liabilities, current 51,922 0
Income tax payable 794,032 15,392,010
Liabilities of discontinued operations - current   6,472,461
Total current liabilities 3,190,107 39,486,129
NON - CURRENT LIABILITIES:    
Operating lease liabilities, non-current 52,992 0
Convertible bonds 1,813,246 0
Liabilities of discontinued operations - non-current 0 16,543
Total non - current liabilities 1,866,238 16,543
TOTAL LIABILITIES 5,056,345 39,502,672
SHAREHOLDERS’ EQUITY:    
Additional paid-in capital 33,003,786 26,502,856
Statutory reserves 0 335,696
Retained earnings 5,985,268 5,423,638
Accumulated other comprehensive loss (3,852) (10,423,129)
Total shareholders’ equity 39,172,562 21,865,416
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 44,228,907 61,368,088
Class A Ordinary Shares    
SHAREHOLDERS’ EQUITY:    
Ordinary Shares [1] 127,360 24,255
Class B Ordinary Shares    
SHAREHOLDERS’ EQUITY:    
Ordinary Shares [1] $ 60,000 $ 2,100
[1] Adjusted for the effect of 1-for-50 reverse share split on June 3, 2025.