INCOME TAXES (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of provision for income taxes |
| Schedule of provision for income taxes |
|
|
|
|
|
|
|
|
| |
|
For the six months ended June 30, |
| |
|
2025 |
|
2026 |
| |
|
$US |
|
$US |
| |
|
(Unaudited) |
| Provisions for current income tax |
|
|
1,799,951 |
|
|
|
2,209,047 |
|
| Provisions/(benefits) for deferred income tax |
|
|
131,411 |
|
|
|
(419,145 |
) |
| Total |
|
|
1,931,362 |
|
|
|
1,789,902 |
|
|
| Schedule of income tax expense |
| Schedule of income tax expense |
|
|
|
|
| |
|
For the six months ended June 30, 2025 |
| |
|
$US |
| |
|
(Unaudited) |
| Income before income tax provision |
|
|
7,771,875 |
|
| Tax at the PRC EIT tax rates |
|
|
1,942,969 |
|
| HNTE tax incentive |
|
|
(361,863 |
) |
| Tax effect of non-deductible expenses |
|
|
343,970 |
|
| Tax effect of Research and development expenses deduction |
|
|
(31,828 |
) |
| Non-taxable investment income |
|
|
— |
|
| Write-off of net operating loss carry forwards |
|
|
— |
|
| Others |
|
|
— |
|
| Change in valuation allowance |
|
|
38,114 |
|
| Income tax expense |
|
|
1,931,362 |
|
|
| Schedule of Effective income tax rate |
| Schedule of Effective income tax rate |
|
|
|
|
|
|
|
|
| |
|
For the six months ended June 30, 2026 |
| |
|
Amount |
|
percent |
| |
|
$US |
|
% |
| |
|
(Unaudited) |
| PRC statutory income tax rate |
|
|
1,757,576 |
|
|
|
25.00 |
% |
| Effect of HNTE tax incentive |
|
|
(671,143 |
) |
|
|
(9.55 |
)% |
| Foreign Tax Effects |
|
|
|
|
|
|
|
|
| Hongkong |
|
|
|
|
|
|
|
|
| Statutory tax rate difference between Hongkong and Chinese mainland |
|
|
(180,306 |
) |
|
|
(2.56 |
)% |
| Vietnam |
|
|
|
|
|
|
|
|
| Statutory tax rate difference between Vietnam and Chinese mainland |
|
|
(8,828 |
) |
|
|
(0.13 |
)% |
| Cayman Islands |
|
|
|
|
|
|
|
|
| Statutory tax rate difference between Cayman Islands and Chinese mainland |
|
|
550,523 |
|
|
|
7.83 |
% |
| Other foreign jurisdictions |
|
|
(990 |
) |
|
|
(0.01 |
)% |
| Tax effect of non-deductible expenses |
|
|
429,497 |
|
|
|
6.11 |
% |
| Tax effect of R&D expenses deduction |
|
|
(40,474 |
) |
|
|
(0.58 |
)% |
| Change in valuation allowance |
|
|
(45,953 |
) |
|
|
(0.65 |
)% |
| Effective income tax rate |
|
|
1,789,902 |
|
|
|
25.46 |
% |
|
| Schedule of deferred tax assets and deferred tax liability |
| Schedule of deferred tax assets and deferred tax liability |
|
|
|
|
|
|
|
|
| |
|
As of |
| |
|
December 31, 2025 |
|
June 30, 2026 |
| |
|
$US |
|
$US |
| |
|
|
|
(Unaudited) |
| Deferred tax assets: |
|
|
|
|
|
|
|
|
| Tax loss carry-forwards |
|
|
118,975 |
|
|
|
151,886 |
|
| Provision for credit loss |
|
|
20,556 |
|
|
|
21,186 |
|
| Inventory provision |
|
|
299,901 |
|
|
|
344,629 |
|
| Lease liability |
|
|
601,051 |
|
|
|
585,767 |
|
| Net deferred tax liabilities offset |
|
|
(925,396 |
) |
|
|
(937,850 |
) |
| Valuation allowance |
|
|
(115,087 |
) |
|
|
(69,692 |
) |
| Total deferred tax assets |
|
|
— |
|
|
|
95,926 |
|
| |
|
|
|
|
|
|
|
|
| Deferred tax liabilities: |
|
|
|
|
|
|
|
|
| Investment Income |
|
|
(1,284,142 |
) |
|
|
(1,018,560 |
) |
| Operating right-of-use assets |
|
|
(598,864 |
) |
|
|
(578,261 |
) |
| Net deferred tax assets offset |
|
|
925,396 |
|
|
|
937,850 |
|
| Total deferred tax liabilities |
|
|
(957,610 |
) |
|
|
(658,971 |
) |
|
| Schedule of Changes in valuation allowance |
| Schedule of Changes in valuation allowance |
|
|
|
|
|
|
|
|
| |
|
As of |
| |
|
December 31, 2025 |
|
June 30, 2026 |
| |
|
$US |
|
$US |
| |
|
|
|
(Unaudited) |
| Balance at beginning of the period |
|
|
63,346 |
|
|
|
115,087 |
|
| Addition/(reduction) |
|
|
53,640 |
|
|
|
(45,953 |
) |
| Foreign currency translation adjustment |
|
|
(1,899 |
) |
|
|
558 |
|
| Balance at end of the period |
|
|
115,087 |
|
|
|
69,692 |
|
|