| SCHEDULE OF ASSETS AND LIABILITIES FOR DISCONTINUED OPERATIONS OF THE DISPOSAL GROUP |
SCHEDULE
OF
ASSETS AND LIABILITIES FOR DISCONTINUED OPERATIONS OF THE DISPOSAL GROUP
| | |
US$ | |
| Consideration: | |
| 10,000 | |
| | |
As
of March 31, | | |
As
of December 31, | |
| | |
2026 | | |
2025 | |
| ASSETS | |
| | | |
| | |
| Current assets | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 190 | | |
$ | 87 | |
| Restricted cash | |
| 132,831 | | |
| 128,866 | |
| Accounts receivable | |
| 5,704 | | |
| - | |
| Prepaid expenses and other
current assets | |
| 1,751,003 | | |
| 1,111,798 | |
| Total
current assets | |
| 1,889,728 | | |
| 1,240,751 | |
| Operating lease right of use assets,net | |
| 16,095,094 | | |
| 15,616,368 | |
| Finance lease right of
use assets,net | |
| 60,366 | | |
| 58,570 | |
| Total
non current assets | |
| 16,155,460 | | |
| 15,674,938 | |
| Total
assets | |
$ | 18,045,188 | | |
$ | 16,915,689 | |
| | |
| | | |
| | |
| LIABILITIES AND SHAREHOLDERS’
EQUITY | |
| | | |
| | |
| Current liabilities | |
| | | |
| | |
| Current portion of long-term loan payable | |
| 515,836 | | |
| 500,493 | |
| Accounts and notes payable | |
| 1,173,138 | | |
| 1,138,245 | |
| Amounts due to related parties | |
| 78,634 | | |
| 76,295 | |
| Contract liabilities | |
| 3,970,657 | | |
| 3,852,555 | |
| Accrued expenses and other current liabilities | |
| 8,828,673 | | |
| 4,383,679 | |
| Product warranty
provision, current | |
| 1,530,704 | | |
| 1,485,175 | |
| Total
current liabilities | |
| 16,097,642 | | |
| 11,436,442 | |
| | |
| | | |
| | |
| Product warranty provision-non current | |
| 172,995 | | |
| 167,849 | |
| Lease liabilities,
non current | |
| 24,985,816 | | |
| 24,242,648 | |
| Finance liabilities,
non current | |
| 149,583 | | |
| 145,134 | |
| Total
non current liabilities | |
| 25,308,394 | | |
| 24,555,631 | |
| Total
liabilities | |
| 41,406,036 | | |
| 35,992,073 | |
| | |
| | | |
| | |
| Total net assets of the
Disposal Group | |
$ | (23,360,848 | ) | |
| (19,076,384 | ) |
| | |
| | | |
| | |
| Gain
on disposal before reclassification of cumulative foreign currency translation differences
of the Disposal Group to profit or loss | |
$ | 23,370,848 | | |
| - | |
| Reclassification of cumulative foreign currency translation
losses of the Disposal Group to profit or loss | |
| (764,444 | ) | |
| - | |
| Gain on disposal recognized in the unaudited
condensed consolidated Statements of Operations and Comprehensive income (loss) | |
| 22,606,404 | | |
| - | |
|
| SCHEDULE OF RECONCILIATION OF DISCONTINUED OPERATIONS |
Reconciliation
of the major classes of losses from discontinued operations in the consolidated statements of operations and comprehensive loss
for the three months ended March 31, 2026 and
for six months ended June 30, 2025 is as follow:
SCHEDULE
OF RECONCILIATION OF DISCONTINUED OPERATIONS
| | |
| | | |
| | |
| | |
For
the three months ended March 31, | | |
For
the six months ended June 30, | |
| | |
2026 | | |
2025 | |
| Major classes of line items
constituting pre-tax profit of discontinued operations | |
| | | |
| | |
| Revenues | |
| - | | |
| 194,810 | |
| Cost of revenues | |
$ | - | | |
$ | (791,775 | ) |
| Selling expenses | |
| - | | |
| (2,077 | ) |
| General and administrative
expenses | |
| - | | |
| (526,668 | ) |
| Interest expense,net | |
| (2,002 | ) | |
| (180,929 | ) |
| Others,net | |
| - | | |
| 73,744 | |
| Loss
from discontinued operations, before income tax | |
| (2,002 | ) | |
| (1,232,895 | ) |
|