DISCONTINUED OPERATION (Tables)

12 Months Ended

Dec. 31, 2025

The results of discontinued operations of Nanjing Lucun for the years ended December 31, 2025, 2024 and 2023 are as follows:

	For the Years ended December 31,
	2025			2024			2023
Net revenues	$	-		$	23,871,417		$	24,148,914
Cost of revenues		(21,465	)		(23,443,331	)		(22,672,758	)
Gross profit		(21,465	)		428,086			1,476,156
Operating expenses		(20,875	)		(882,885	)		(26,538,318	)
Other income/(expenses).net		23,055			71,756			(70,220	)
Loss before income tax	$	(19,285	)	$	(383,043	)	$	(25,132,382	)
Income tax benefit		3,089			94,501			6,277,197
Loss from discontinued operation, net of income tax	$	(16,196	)	$	(288,542	)	$	(18,855,185	)

Assets and liabilities of the discontinued operations of Nanjing Lucun as of December 31, 2024 were as follows:

	December 31,
	2024
ASSETS
Current assets：
Cash and cash equivalents	$	469
Restricted cash		8,037
Advance to suppliers		2,795,162
Prepayment and other current assets		3,497,724
Total current assets		6,301,392

Non-current assets：
Property, plant and equipment, net		6,512
Operating lease right-of-use assets		55,334
Deferred tax assets		6,247,083
Total non-current assets		6,308,929
TOTAL ASSETS	$	12,610,321

LIABILITIES
Current liabilities：
Accounts payable	$	2,640
Accrued expenses and other payables		1,233,311
Advances from customers		4,537,799
Deferred government grant - current		38,792
Income tax payable		659,919
Total current liabilities		6,472,461

Non-current liabilities：
Deferred government grant - non current		16,543
Total non-current liabilities		16,543
Total liabilities	$	6,489,004