v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash and cash equivalents $ 23,317,217 $ 33,013,749
Accounts receivable 1,011 287
Inventories 2,206,892 956,407
Prepayments and other current assets 1,995,813 2,921,317
Total Current Assets 27,520,933 36,891,760
Non-Current Assets    
Property and equipment, net 4,524,462 4,608,387
Land use right, net 2,633,915 2,625,116
Intangible asset, net 87,144 83,728
Operating lease right-of-use asset 276,891 358,505
Other assets 165,908 161,104
Total Non-Current Assets 7,688,320 7,836,840
TOTAL ASSETS 35,209,253 44,728,600
Current Liabilities    
Accounts payable 1,853,808 69,106
Accrued expenses and other current liabilities 1,863,971 1,891,474
Advances from customers 2,499,825 17,601,292
Income tax payable 1,448,795 1,339,698
Amount due to a director 233,253
Operating lease obligation, current 246,948 236,169
Notes payable 3,134,500 3,018,500
Total Current Liabilities 11,735,790 24,610,929
Non-Current Liabilities    
Operating lease obligation, noncurrent 126,330 243,490
TOTAL LIABILITIES 11,862,120 24,854,419
COMMITMENTS AND CONTINGENCIES (NOTE 11)
STOCKHOLDERS’ EQUITY    
Common stock, $0.0001 par value; 160,000,000 shares authorized; 52,234,983 shares issued and outstanding as of June 30, 2026 and December 31, 2025 5,224 5,224
Additional paid-in capital 6,823,190 6,823,190
Retained earnings 15,159,903 12,408,522
Accumulated other comprehensive income 1,358,816 637,245
TOTAL STOCKHOLDERS’ EQUITY 23,347,133 19,874,181
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 35,209,253 44,728,600
Related Party    
Current Liabilities    
Notes payable — related parties $ 454,690 $ 454,690