v3.26.3
Unaudited Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 4,492,677 $ 3,826,300
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property, plant and equipment 434,996 456,709
Amortization of operating lease right-of-use assets (50,329) 79,867
Deferred income tax 114,558 (1,145)
Amortization of deferred expenses 206,404
Changes in assets and liabilities    
Accounts receivable (7,373,982) 667,809
Inventories (10,506,363) (15,034,423)
Advances to suppliers 496,473
Other receivables and current assets (1,113,176) (327)
Other non-current assets 477,789
Accounts payable 2,631,534 7,149,232
Other payables and accrued expenses (137,946) 538,611
Taxes payable 1,525,401 1,079,500
Due to related parties (372,251) (28,714)
Operating lease liabilities (757,286) (465,891)
Net cash used in operating activities (9,931,501) (1,732,472)
Cash flows from investing activities    
Purchase of property, plant and equipment (746,169)
Collection of loan receivable 140,000
Net cash used in investing activities (606,169)
Cash flows from financing activities    
Payment of deferred offering costs (25,516)
Net proceeds from share and warrants issuance 11,825,513
Principal payments on financed amount for purchase of vehicle (7,353)
Net cash provided by (used in) financing activities 11,818,160 (25,516)
Effect of exchange rate changes on cash and cash equivalents 475,158 32,921
Net (decrease) increase of cash and cash equivalents 1,755,648 (1,725,067)
Cash and cash equivalents – beginning of the year 957,285 1,847,634
Cash and cash equivalents – end of the year 2,712,933 122,567
Supplementary cash flow information:    
Interest paid 2,870 3,013
Income taxes paid $ 1,252 $ 978