v3.26.1
Restatement - Schedule of Condensed Balance Sheet (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current Assets        
Cash $ 3,793 $ 10,075,162    
Accounts receivable, net 3,269,420 564,523    
Inventories, net 562,817 315,371    
Prepayments and deposits 3,940,045 6,376,656    
Amount due from related parties 22,763 25,040    
Other receivables 16,771,928 94,074    
Total Current Assets 24,570,766 17,450,826    
Non-Current Assets        
Property, plant and equipment, net 61,944,100 89,431,050    
Finance lease right-of-use assets 41,140,331 45,155,288    
Operating lease right-of-use assets 5,669,794 6,169,855    
Prepaid land leases, net of current portion 406,819 9,615,269    
Deferred tax assets, net      
Total non-current assets 109,161,044 150,371,462    
Total Assets 133,731,810 167,822,288    
Other payables and accrued expenses 1,882,367 6,445,277    
Taxes payable-current 365,499 113,999    
Amount due to related parties 1,896,831 2,584,808    
Finance lease liability, current portion 228,918 3,342,293    
Operating lease liabilities, current portion 523,847 491,850    
Total Current Liabilities 8,242,550 12,978,227    
Non-Current Liabilities        
Finance lease liability, net of current portion 5,175,628 5,089,884    
Operating lease liabilities, net of current portion 6,491,100 6,941,602    
Total non-current liabilities 14,011,338 12,031,486    
Total Liabilities 22,253,888 25,009,713    
Commitment and Contingencies      
Stockholders’ Equity        
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding    
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 1,120,145 shares issued; and 1,091,562 shares outstanding as of December 31, 2024 [1] 784 560    
Treasury stock; 28,583 shares as of December 31, 2024 at cost (1,372,673) (1,372,673)    
Additional paid-in capital [1] 105,927,142 101,712,325    
Share to be issued 194,700    
Retained earnings unappropriated (7,526,347) 36,393,884    
Retained earnings appropriated 26,667,097 26,667,097    
Accumulated other comprehensive loss (12,218,081) (20,783,318)    
Total Stockholders’ Equity 111,477,922 142,812,575 $ 205,248,296 $ 205,248,296
Total Liabilities and Stockholders’ Equity 133,731,810 167,822,288    
Deferred tax assets, net    
Current Liabilities        
Treasury stock; 28,583 shares as of December 31, 2024 and December 31, 2023 at cost 1,372,673 1,372,673    
Parent company        
Current Assets        
Prepayments and deposits      
Total Current Assets    
Non-Current Assets        
Deferred tax assets, net    
Total non-current assets 113,582,709 144,804,555    
Total Assets 113,582,709 144,804,555    
Other payables and accrued expenses 642,677 387,168    
Total Current Liabilities 2,104,787 1,991,980    
Non-Current Liabilities        
Total Liabilities 2,104,787 1,991,980    
Stockholders’ Equity        
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding    
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 1,120,145 shares issued; and 1,091,562 shares outstanding as of December 31, 2024 784 560    
Treasury stock; 28,583 shares as of December 31, 2024 at cost 1,372,673 1,372,673    
Additional paid-in capital 105,927,142 101,712,325    
Share to be issued 194,700    
Retained earnings unappropriated (7,526,347) 36,393,884    
Retained earnings appropriated 26,667,097 26,667,097    
Accumulated other comprehensive loss (12,218,081) (20,783,318)    
Total Stockholders’ Equity 111,477,922 142,812,575    
Total Liabilities and Stockholders’ Equity 113,582,709 144,804,555    
Interests in subsidiaries 48,950,428 82,861,465    
Amounts due from group companies 64,632,281 61,943,090    
Deferred tax assets, net      
Current Liabilities        
Amounts due to related parties 1,462,110 1,462,110    
Amounts due to group companies 142,702    
Treasury stock; 28,583 shares as of December 31, 2024 and December 31, 2023 at cost $ (1,372,673) (1,372,673)    
As Previously Reported        
Current Assets        
Cash   10,075,162    
Accounts receivable, net   564,523    
Inventories, net   315,371    
Prepayments and deposits   6,376,656    
Amount due from related parties   25,040    
Other receivables   94,074    
Total Current Assets   17,450,826    
Non-Current Assets        
Property, plant and equipment, net   136,143,177    
Finance lease right-of-use assets   76,868    
Operating lease right-of-use assets   6,169,855    
Prepaid land leases, net of current portion   9,615,269    
Deferred tax assets, net      
Total non-current assets   152,005,169    
Total Assets   169,455,995    
Other payables and accrued expenses   14,323,458    
Taxes payable-current   113,999    
Amount due to related parties   2,584,808    
Finance lease liability, current portion   217,743    
Operating lease liabilities, current portion   491,850    
Total Current Liabilities   17,731,858    
Non-Current Liabilities        
Finance lease liability, net of current portion   1,075,865    
Operating lease liabilities, net of current portion   6,941,602    
Total non-current liabilities   8,017,467    
Total Liabilities   25,749,325    
Commitment and Contingencies      
Stockholders’ Equity        
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding      
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 1,120,145 shares issued; and 1,091,562 shares outstanding as of December 31, 2024   24,623    
Treasury stock; 28,583 shares as of December 31, 2024 at cost   (1,372,673)    
Additional paid-in capital   101,688,262    
Share to be issued   194,700    
Retained earnings unappropriated   37,358,804    
Retained earnings appropriated   26,667,097    
Accumulated other comprehensive loss   (20,854,143)    
Total Stockholders’ Equity   143,706,670 205,248,296  
Total Liabilities and Stockholders’ Equity   169,455,995    
Current Liabilities        
Treasury stock; 28,583 shares as of December 31, 2024 and December 31, 2023 at cost   1,372,673    
As Previously Reported | Parent company        
Current Assets        
Prepayments and deposits      
Total Current Assets      
Non-Current Assets        
Total non-current assets   153,576,831    
Total Assets   153,576,831    
Other payables and accrued expenses   8,265,349    
Total Current Liabilities   9,870,161    
Non-Current Liabilities        
Total Liabilities   9,870,161    
Stockholders’ Equity        
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding      
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 1,120,145 shares issued; and 1,091,562 shares outstanding as of December 31, 2024   24,623    
Treasury stock; 28,583 shares as of December 31, 2024 at cost   1,372,673    
Additional paid-in capital   101,688,262    
Share to be issued   194,700    
Retained earnings unappropriated   37,358,804    
Retained earnings appropriated   26,667,097    
Accumulated other comprehensive loss   (20,854,143)    
Total Stockholders’ Equity   143,706,670    
Total Liabilities and Stockholders’ Equity   153,576,831    
Interests in subsidiaries   83,755,560    
Amounts due from group companies   69,821,271    
Deferred tax assets, net      
Current Liabilities        
Amounts due to related parties   1,462,110    
Amounts due to group companies   142,702    
Treasury stock; 28,583 shares as of December 31, 2024 and December 31, 2023 at cost   (1,372,673)    
Restatement        
Current Assets        
Cash      
Accounts receivable, net      
Inventories, net      
Prepayments and deposits      
Amount due from related parties      
Other receivables      
Total Current Assets      
Non-Current Assets        
Property, plant and equipment, net   (46,712,127)    
Finance lease right-of-use assets   45,078,420    
Operating lease right-of-use assets      
Prepaid land leases, net of current portion      
Deferred tax assets, net      
Total non-current assets   (1,633,707)    
Total Assets   (1,633,707)    
Other payables and accrued expenses   (7,878,181)    
Taxes payable-current      
Amount due to related parties      
Finance lease liability, current portion   3,124,550    
Operating lease liabilities, current portion      
Total Current Liabilities   (4,753,631)    
Non-Current Liabilities        
Finance lease liability, net of current portion   4,014,019    
Operating lease liabilities, net of current portion      
Total non-current liabilities   4,014,019    
Total Liabilities   (739,612)    
Commitment and Contingencies      
Stockholders’ Equity        
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding      
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 1,120,145 shares issued; and 1,091,562 shares outstanding as of December 31, 2024   (24,063)    
Treasury stock; 28,583 shares as of December 31, 2024 at cost      
Additional paid-in capital   24,063    
Share to be issued      
Retained earnings unappropriated   (964,920)    
Retained earnings appropriated      
Accumulated other comprehensive loss   70,825    
Total Stockholders’ Equity   (894,095)  
Total Liabilities and Stockholders’ Equity   (1,633,707)    
Current Liabilities        
Treasury stock; 28,583 shares as of December 31, 2024 and December 31, 2023 at cost      
Restatement | Parent company        
Current Assets        
Prepayments and deposits      
Total Current Assets      
Non-Current Assets        
Total non-current assets   (8,772,276)    
Total Assets   (8,772,276)    
Other payables and accrued expenses   (7,878,181)    
Total Current Liabilities   (7,878,181)    
Non-Current Liabilities        
Total Liabilities   (7,878,181)    
Stockholders’ Equity        
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding      
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 1,120,145 shares issued; and 1,091,562 shares outstanding as of December 31, 2024   (24,063)    
Treasury stock; 28,583 shares as of December 31, 2024 at cost      
Additional paid-in capital   24,063    
Share to be issued      
Retained earnings unappropriated   (964,920)    
Retained earnings appropriated      
Accumulated other comprehensive loss   70,825    
Total Stockholders’ Equity   (894,095)    
Total Liabilities and Stockholders’ Equity   (8,772,276)    
Interests in subsidiaries   (894,095)    
Amounts due from group companies   (7,878,181)    
Deferred tax assets, net      
Current Liabilities        
Amounts due to related parties      
Amounts due to group companies      
Treasury stock; 28,583 shares as of December 31, 2024 and December 31, 2023 at cost      
[1] The shares and per share data are presented on a retroactive basis to reflect the stock split.