v3.26.3
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 45,465,962 $ 6,717,787
Short-term investments 3,000,000
Accounts receivable, net 8,842,220 5,906,938
Inventories 6,747,700 5,497,426
Prepayments and other current assets 235,803 96,086
TOTAL CURRENT ASSETS 64,349,909 18,230,893
NON-CURRENT ASSETS:    
Property, plant, and equipment, net 16,201,530 4,248,793
Land-use rights, net 2,216,734 2,175,012
Intangible assets, net 38,781 40,315
Finance lease assets 49,301 76,535
Deferred tax assets 7,088 5,804
TOTAL NON-CURRENT ASSETS 18,513,434 6,546,459
TOTAL ASSETS 82,863,343 24,777,352
CURRENT LIABILITIES:    
Accounts payable 2,475,510 3,286,866
Bank loans 6,969,090 4,618,839
Contract liabilities 211,465 8,674
Accrued expenses and other payables 695,873 347,598
Warranty liabilities 27,728 25,941
Income taxes payable 100,882
Current finance lease liabilities 45,342 57,326
TOTAL CURRENT LIABILITIES 11,384,801 8,627,115
NON-CURRENT LIABILITIES:    
Finance lease liabilities 15,368
TOTAL NON-CURRENT LIABILITIES 15,368
TOTAL LIABILITIES 11,384,801 8,642,483
COMMITMENTS AND CONTINGENCIES (NOTE 22)
SHAREHOLDERS’ EQUITY    
Additional paid-in capital 70,887,594 17,727,063
Statutory reserve 539,506 361,083
Retained earnings (1,413,847) (2,244,434)
Accumulated other comprehensive income 1,129,194 289,267
TOTAL SHAREHOLDERS’ EQUITY 71,478,542 16,134,869
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 82,863,343 24,777,352
Class A Ordinary Share    
SHAREHOLDERS’ EQUITY    
Ordinary shares value [1] 334,845 640
Class B Ordinary Share    
SHAREHOLDERS’ EQUITY    
Ordinary shares value [1] 1,250 1,250
Related Party    
CURRENT ASSETS:    
Amounts due from related parties 58,224 12,656
CURRENT LIABILITIES:    
Amounts due to related parties $ 858,911 $ 281,871
[1] The shares are presented on a retrospective basis to give effect to the 1-for-200 share consolidation of the Company’s authorized and issued ordinary shares effective July 6, 2026, following the 1-for-16 share consolidation of the Company’s authorized and issued ordinary shares effective April 6, 2026.