v3.26.1
Notes Payable
6 Months Ended
Jun. 30, 2026
Notes Payable [Abstract]  
NOTES PAYABLE

NOTE 11 – NOTES PAYABLE

 

    As of  
    June 30,
2026
    December 31,
2025
 
Bank acceptance notes   $ 20,263,519     $ 12,759,720  
Total   $ 20,263,519     $ 12,759,720  

 

The interest-free notes payable, ranging from six months to one year from the date of issuance, were secured by $0.00 million and $0.07 million of restricted cash, and $2.11 million and $3.43 million of notes receivable, as of June 30, 2026 and December 31, 2025, respectively.

 

All the notes payable are subject to bank charges of 0.05% of the principal amount as commission, included in the financial expenses in the statement of operations, on each loan transaction. The notes payable bear no interests.