v3.26.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 10,691,437 $ 1,803,064
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,049,338 1,038,100
Amortization of deferred revenue (239,175) (113,154)
Increase in allowance for credit losses 40,732
Write-off of inventory provision due to sale of previously impaired inventory (181,901)
Change in fair value of warrant liability (52,010) (291,033)
Stock based compensation expense 6,953,444
Non-cash lease expenses 308,448
Accrued interest income derived from loan to related parties (2,012) (3,682)
Accrued expense (684,310) (1,993,483)
Decrease (Increase) In:    
Accounts receivable (12,587,207) (5,982,647)
Notes receivable (6,913,170) 3,065,813
Inventories 667,615 (600,730)
Advance to suppliers (7,791) 284,926
Other current and noncurrent assets 765,936 (5,981,813)
Increase (Decrease) In:    
Accounts payable 8,545,643 6,043,296
Contract liabilities 624 33,953
Other current liabilities 113,477 147,602
Income tax payable (1,115,877) 389,305
Due to related parties (5,212,314)
Lease liabilities (349,092)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 91,349 (459,997)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of long-term assets (1,350,490) (152,982)
Loan payment to third parties (11,410,026) (689,408)
Repayment of loans lend to third parties 2,122,861 275,763
NET CASH USED IN INVESTING ACTIVITIES (10,637,655) (566,627)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Notes payable 7,032,525 (1,668,367)
Proceeds from related parties 597,029
Repayment of loans from related parties (94,442) (1,000,000)
Dividend paid (1,457,216) (188,222)
Proceeds from equity and debt financing 5,584,996
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 11,662,892 (2,856,589)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 1,116,586 (3,883,213)
Effect of exchange rate changes on cash 17,148 343,485
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 7,846,870 8,611,795
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 8,980,604 5,072,067
Bank balances and cash at end of period 8,980,604 4,575,645
Bank balances and cash included in assets classified as restricted cash at end of period 496,422
Supplemental Disclosure of Cash Flow Information    
Income taxes paid 3,357,980 1,691,619
Interest paid $ 31,792