v3.26.3
Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 964,366 $ 2,131,861
Restricted cash 11,541
Advances to suppliers, net 11,581,632 10,333,314
Contract assets 701,417 789,320
Prepaid expenses 71,719 71,719
Inventories, net 891,613 790,207
Other current assets 4,244,586 3,057,741
TOTAL CURRENT ASSETS 27,296,464 26,414,168
Property, equipment and software, net 5,211,581 5,670,216
Right-of-use assets 66,283 85,868
Goodwill 7,277,374 7,277,374
TOTAL ASSETS 39,851,702 39,447,626
CURRENT LIABILITIES    
Short-term bank loans 5,536,156 4,005,325
Accounts payable 2,264,078 3,071,456
Contract liabilities 1,299,409
Accrued payroll and benefits 927,530 660,410
Other payables and accrued expenses 3,336,898 3,931,171
Income tax payable 3,981
Lease liability-current 54,054 42,663
TOTAL CURRENT LIABILITIES 16,712,535 14,110,689
Lease liability 32,812 62,696
Long-term bank loans 5,736,965 5,733,552
TOTAL LIABILITIES 22,482,312 19,906,937
EQUITY    
Ordinary shares, 2026 and 2025: par $0; authorized capital 5,000,000,000 shares; shares issued and outstanding, June 30, 2026: 9,552,783 shares; December 31, 2025: 9,552,783 shares; 194,458,213 194,458,213
Preferred shares, 2026 and 2025: par $0; authorized capital 10,000,000 shares; shares issued and outstanding, June 30, 2026 and December 31, 2025: 0 shares [1]
Additional paid-in capital 11,568,652 11,568,652
Reserve 10,209,086 10,209,086
Accumulated deficit (223,128,280) (220,633,658)
Accumulated other comprehensive income 24,160,883 23,837,560
TOTAL SHAREHOLDERS’ EQUITY 17,369,390 19,540,689
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 39,851,702 39,447,626
Common Class A [Member]    
EQUITY    
Class A shares, 2026 and 2025: par $0; authorized capital 50,000,000 shares; shares issued and outstanding, June 30, 2026: 50,418 shares; December 31, 2025: 50,418 shares; 100,836 100,836
Nonrelated Party [Member]    
CURRENT ASSETS    
Accounts receivable, net 8,829,590 8,981,264
CURRENT LIABILITIES    
Advances from customers 959,126 588,446
Related Party [Member]    
CURRENT ASSETS    
Accounts receivable, net 258,742
CURRENT LIABILITIES    
Advances from customers 2,756 2,672
Amounts due to related parties, net $ 2,332,528 $ 1,804,565
[1] On May 29, 2025, the Company implemented a one-for-thirty reverse stock split of the Company’s issued and outstanding ordinary shares. Except shares authorized, all references to number of shares, and to per share information in the consolidated financial statements have been retroactively restated.