v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current Assets    
Cash $ 6,537,505 $ 3,793
Accounts receivable, net 2,674,441 3,269,420
Inventories, net 444,472 562,817
Prepayments and deposits 4,214,805 3,940,045
Amounts due from related parties 15,897 22,763
Other receivables 11,709,769 16,771,928
Total current assets 25,596,889 24,570,766
Non-Current Assets    
Property, plant and equipment, net 60,102,976 61,944,100
Finance lease right-of use assets 41,054,305 41,140,331
Operating lease right-of-use assets 5,621,918 5,669,794
Prepaid land leases, net of current portion 409,890 406,819
Deferred tax assets, net
Total non-current assets 107,189,089 109,161,044
Total Assets 132,785,978 133,731,810
Current Liabilities    
Short-term bank borrowing 5,272,057 2,845,400
Accounts payable and accrued expenses 2,171,025 1,882,367
Accrued liabilities 507,587 499,688
Taxes payable-current 456,137 365,499
Amount due to related parties 1,903,703 1,896,831
Finance lease liability, current portion 251,900 228,918
Operating lease liabilities, current portion 382,599 523,847
Total current liabilities 10,945,008 8,242,550
Non-Current Liabilities    
Finance lease liability, net of current portion 5,299,635 5,175,628
Operating lease liabilities, net of current portion 6,595,176 6,491,100
Long-term bank borrowing 2,344,610
Total non-current liabilities 11,894,811 14,011,338
Total Liabilities 22,839,819 22,253,888
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;1,712,114 and 1,568,114 shares issued; and 1,683,531 and 1,539,531 shares outstanding as of March 31, 2026 and December 31, 2025, respectively 856 784
Treasury stock; 28,583 shares as of March 31, 2026 and December 31, 2025 at cost (1,372,673) (1,372,673)
Additional paid-in capital 106,441,150 105,927,142
Retained earnings unappropriated (11,452,728) (7,526,347)
Retained earnings appropriated 26,667,097 26,667,097
Accumulated other comprehensive loss (10,337,543) (12,218,081)
Total Stockholders’ Equity 109,946,159 111,477,922
Total Liabilities and Stockholders’ Equity $ 132,785,978 $ 133,731,810