| Summary of Concentration of Customers and Suppliers |
Customers from whom individually represent greater than 10% of total revenues of the Group for the six months ended June 30, 2025 and 2026 are as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months ended June 30, |
|
|
|
2025 |
|
|
2026 |
|
|
|
US$ |
|
|
% |
|
|
US$ |
|
|
% |
|
Customer A |
|
* |
|
|
* |
|
|
|
2,165,662 |
|
|
|
21 |
% |
Customer B |
|
* |
|
|
* |
|
|
|
1,084,000 |
|
|
|
11 |
% |
Customer C |
|
|
1,389,443 |
|
|
|
11 |
% |
|
* |
|
|
* |
|
Customer D |
|
|
1,281,392 |
|
|
|
10 |
% |
|
* |
|
|
* |
|
Suppliers from whom individually represent greater than 10% of total purchases of the Group for the six months ended June 30, 2025 and 2026 are as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months ended June 30, |
|
|
|
2025 |
|
|
2026 |
|
|
|
US$ |
|
|
% |
|
|
US$ |
|
|
% |
|
Supplier A |
|
|
660,265 |
|
|
|
11 |
% |
|
|
1,032,065 |
|
|
|
11 |
% |
Supplier B |
|
|
820,419 |
|
|
|
13 |
% |
|
* |
|
|
* |
|
Supplier C |
|
|
786,562 |
|
|
|
12 |
% |
|
* |
|
|
* |
|
Supplier D |
|
|
725,198 |
|
|
|
12 |
% |
|
* |
|
|
* |
|
Customers accounting for 10% or more of accounts receivable, net are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
As of June 30, |
|
|
|
2025 |
|
|
2026 |
|
|
|
US$ |
|
|
% |
|
|
US$ |
|
|
% |
|
Customer A |
|
* |
|
|
* |
|
|
|
2,988,337 |
|
|
|
46 |
% |
Customer E |
|
|
1,224,249 |
|
|
|
17 |
% |
|
* |
|
|
* |
|
Customers accounting for 10% or more of contract liabilities are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
As of June 30, |
|
|
|
2025 |
|
2026 |
|
|
|
US$ |
|
% |
|
US$ |
|
|
% |
|
Customer F |
|
* |
|
* |
|
|
2,276,250 |
|
|
|
35 |
% |
Customer G |
|
660,000 |
|
16% |
|
|
660,000 |
|
|
|
10 |
% |
Suppliers accounting for 10% or more of accounts payable are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
As of June 30, |
|
|
|
2025 |
|
|
2026 |
|
|
|
US$ |
|
|
% |
|
|
US$ |
|
|
% |
|
Supplier A |
|
|
1,612,153 |
|
|
|
24 |
% |
|
|
1,807,541 |
|
|
|
22 |
% |
Supplier E |
|
* |
|
|
* |
|
|
|
1,075,283 |
|
|
|
13 |
% |
Supplier C |
|
|
1,119,645 |
|
|
|
17 |
% |
|
* |
|
|
* |
|
Supplier D |
|
687,776 |
|
|
10% |
|
|
* |
|
|
* |
|
Suppliers accounting for 10% or more of prepayments are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
As of June 30, |
|
|
|
2025 |
|
|
2026 |
|
|
|
US$ |
|
|
% |
|
|
US$ |
|
|
% |
|
Supplier B |
|
|
625,654 |
|
|
|
20 |
% |
|
|
654,399 |
|
|
|
29 |
% |
Supplier F |
|
|
1,789,478 |
|
|
|
56 |
% |
|
559,010 |
|
|
|
34 |
% |
* The amount was less than 10% of total sales, total purchases or total balance.
|
| Summary of Cash and Cash Equivalents, Excluding Cash on Hand are Deposited in Financial Institutions at Locations |
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
As of June 30, |
|
|
|
2025 |
|
|
2026 |
|
|
|
US$ |
|
|
US$ |
|
Financial institutions in the mainland of the PRC |
|
|
|
|
|
|
—Denominated in RMB |
|
|
1,827,969 |
|
|
|
294,013 |
|
—Denominated in USD |
|
|
7,400 |
|
|
|
283,676 |
|
—Denominated in EUR |
|
|
1,574,250 |
|
|
|
29,070 |
|
Total cash and cash equivalents balances held at
mainland PRC financial institutions |
|
|
3,409,619 |
|
|
|
606,759 |
|
Financial institution in Germany |
|
|
|
|
|
|
—Denominated in EUR |
|
|
1,833,658 |
|
|
|
539,112 |
|
Total cash balances held at a Germany
financial institution |
|
|
1,833,658 |
|
|
|
539,112 |
|
Financial institutions in the USA |
|
|
|
|
|
|
—Denominated in USD |
|
|
6,141,320 |
|
|
|
7,703,724 |
|
Total cash balances held at a USA financial institution |
|
|
6,141,320 |
|
|
|
7,703,724 |
|
Total cash and cash equivalents balances held at
financial institutions |
|
|
11,384,597 |
|
|
|
8,849,595 |
|
|