v3.26.3
PREPAID EXPENSES AND OTHER CURRENT ASSETS
6 Months Ended
Jun. 30, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS

6. PREPAID EXPENSES AND OTHER CURRENT ASSETS

 

Prepaid expenses and other current assets consisted of the following:

 

    

As of

June 30, 2026

    

As of

December 31, 2025

 
Value added tax recoverable  $6,041   $12,168 
Prepayments to suppliers   4,804,130    2,014,994 
Deposits   -    39,325 
Loan receivables from third parties   4,020,585    - 
Others   43,322    - 
Total  $8,874,078   $2,066,487 

 

Loan receivables from third parties

 

The amount represented interest-free loans of RMB27,280,069 to third parties that were formerly related parties of the Company. These loans are unsecured and repayable on demand.