Other receivables, net |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other receivables, net | Note 6 – Other receivables, net
Other receivables, net consist of the following:
*On March 16, 2026, and April 10, 2026, the Company entered into borrowing agreements with a third party with the interest rate at 3.5% per annual, pursuant to which the Company provides a loan facility of $4,421,453 and $736,909, respectively to the third party. As of June 30, 2026, the balance of loan lent to the third party is $4,863,598.
The Company does not require collateral for other receivables. The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses, and all the allowance for credit losses are accrued directly to the receivables from sales of short-term investment. The Company records the allowance for credit loss through the consolidated statements of operations and comprehensive income, included in allowance for credit losses, up to the amount of receivables recognized to date. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success.
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