| BORROWINGS |
6.
BORROWINGS
As
of December 31, 2025 and June 30, 2026 the bank borrowings were for working capital and capital expenditure purposes.
SCHEDULE OF BANK BORROWINGS
| | |
December 31，2025 | | |
June 30，2026 | |
| | |
As of | |
| | |
December 31，2025 | | |
June 30，2026 | |
| | |
| | |
(Unaudited) | |
| Current portion: | |
| | | |
| | |
| Short-term bank borrowings | |
| | | |
| | |
| Bank of Jiaxing (1) | |
$ | 2,692,654 | | |
$ | 2,775,199 | |
| Long-term bank borrowings, current portion | |
| | | |
| | |
| Bank of Jiaxing (1) | |
| 56,381 | | |
| 87,163 | |
| Long-term bank borrowings, current portion | |
| 56,381 | | |
| 87,163 | |
| Subtotal | |
$ | 2,749,035 | | |
$ | 2,862,362 | |
| | |
| | | |
| | |
| Non-current portion: | |
| | | |
| | |
| Long-term bank borrowings | |
| | | |
| | |
| Bank of Jiaxing (1) | |
$ | 2,938,338 | | |
$ | 2,984,832 | |
| Long-term borrowings non-current portion | |
$ | 2,938,338 | | |
$ | 2,984,832 | |
| Subtotal | |
$ | 2,938,338 | | |
$ | 2,984,832 | |
| Total | |
$ | 5,687,373 | | |
$ | 5,847,194 | |
| (1) | During
the year ended December 31, 2025 and the six months ended June 30, 2026, the Company continuously
entered into certain bank borrowings for the purpose of obtaining financing. The bank borrowings
were joint secured by Mr. Ming-Chao Huang and Mr. Ming-Chia Huang, the shareholders of the
Company, and pledged by the Company’s property, plant and equipment amounting to US$3,820,949
and US$3,812,196 as of December 31, 2025 and June 30, 2026, respectively. |
MKDWELL
TECH INC.
NOTES
TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In
U.S. dollars, except share and per share data)
6.
BORROWINGS-continued
The
interest expenses were US$147,605 and US$120,931 for the six months ended June 30, 2025 and 2026, respectively. The weighted average
interest rates of bank borrowings outstanding were 4.34% and 4.34% per annum as of December 31, 2025 and June 30, 2026, respectively.
The maturity dates of the bank borrowings were from December 2026 to December 2035.
As
of June 30，2026 the Company’s long-term bank borrowings will be due according to the following schedule:
SCHEDULE OF LONG TERM BORROWINGS
| For the fiscal years ending December 31, | |
Amount | |
| | |
(Unaudited) | |
| 2026 remainder | |
$ | 87,163 | |
| 2027 | |
| 72,636 | |
| 2028 | |
| 145,272 | |
| 2029 and thereafter | |
| 2,766,924 | |
| Total long-term bank borrowings | |
$ | 3,071,995 | |
|