v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current Assets    
Cash $ 9,189,231 $ 3,793
Accounts receivable, net 15,475,127 3,269,420
Inventories, net 814,921 562,817
Prepayments and deposits 2,973,454 3,940,045
Amounts due from related parties 13,214 22,763
Other receivables 2,494,628 16,771,928
Total current assets 30,960,575 24,570,766
Non-Current Assets    
Property, plant and equipment, net 58,870,828 61,944,100
Finance lease right-of-use assets 40,959,992 41,140,331
Operating lease right-of-use assets 5,570,840 5,669,794
Prepaid land leases, net of current portion 413,000 406,819
Deferred tax assets, net
Total non-current assets 105,814,660 109,161,044
Total Assets 136,775,235 133,731,810
Current Liabilities    
Short-term bank borrowing 5,355,963 2,845,400
Accounts payable and accrued expenses 2,916,775 1,882,367
Accrued liabilities 515,666 499,688
Taxes payable-current 615,581 365,499
Amount due to related parties 1,910,732 1,896,831
Finance lease liabilities, current portion 211,682 228,918
Operating lease liabilities, current portion 162,222 523,847
Total current liabilities 11,688,621 8,242,550
Non-Current Liabilities    
Finance lease liabilities, net of current portion 5,215,572 5,175,628
Operating lease liabilities, net of current portion 6,463,485 6,491,100
Long-term bank borrowing 2,344,610
Total non-current liabilities 11,679,057 14,011,338
Total Liabilities 23,367,678 22,253,888
Stockholders’ Equity    
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized;1,842,114 and 1,568,114 shares issued; and 1,813,531 and 1,539,531 shares outstanding as of June 30, 2026 and December 31, 2025, respectively 921 784
Treasury stock; 28,583 shares as of June 30, 2026 and December 31, 2025 at cost (1,372,673) (1,372,673)
Additional paid-in capital 106,962,885 105,927,142
Retained earnings unappropriated (10,309,535) (7,526,347)
Retained earnings appropriated 26,667,097 26,667,097
Accumulated other comprehensive loss (8,541,138) (12,218,081)
Total Stockholders’ Equity 113,407,557 111,477,922
Total Liabilities and Stockholders’ Equity $ 136,775,235 $ 133,731,810