| Operating revenue |
19.
Operating revenue
Schedule of disaggregation of revenue
| | |
Six
Months Ended June
30, 2026 | | |
Six
Months Ended June
30, 2025 | |
| Revenue from contracts with customers | |
| | | |
| | |
| Sales
of goods | |
$ | 6,767,591 | | |
$ | 10,588,835 | |
(a)
Disaggregation of revenue from contracts with customers
The
Group derives revenue from the transfer of goods at a point in time and services over time in the following major product lines and geographical
regions:
Schedule of revenue for geographical regions
| Revenue from external
customer contracts | |
| | |
| | |
| | |
| |
| Six months
ended June 30, 2026 | |
Asia | | |
US | | |
Other
areas | | |
Total | |
| Sales of product | |
| | |
| | |
| | |
| |
| Bicycle
frame | |
$ | - | | |
$ | - | | |
$ | 528,621 | | |
$ | 528,621 | |
| Racket | |
| 5,999,258 | | |
| 54,111 | | |
| - | | |
| 6,053,369 | |
| Crank | |
| 566 | | |
| - | | |
| 12,340 | | |
| 12,906 | |
| Others | |
| 49,164 | | |
| - | | |
| 123,531 | | |
| 172,695 | |
| Total | |
$ | 6,048,988 | | |
$ | 54,111 | | |
$ | 664,492 | | |
$ | 6,767,591 | |
| Revenue from external customer contracts | |
| | |
| | |
| | |
| |
| Six months ended June 30,
2025 | |
Asia | | |
US | | |
Other
areas | | |
Total | |
| Sales of product | |
| | |
| | |
| | |
| |
| - Bicycle
frame | |
$ | 13,513 | | |
$ | - | | |
$ | 2,756,990 | | |
$ | 2,770,503 | |
| - Bicycle | |
| 24,363 | | |
| - | | |
| - | | |
| 24,363 | |
| - Racket | |
| 5,675,167 | | |
| - | | |
| 295 | | |
| 5,675,462 | |
| - Crank | |
| 32,761 | | |
| - | | |
| 224,134 | | |
| 256,895 | |
| - Others | |
| 50,131 | | |
| 31,458 | | |
| 23 | | |
| 81,612 | |
| Service
provision | |
| 480,000 | | |
| - | | |
| 1,300,000 | | |
| 1,780,000 | |
| Total | |
$ | 6,275,935 | | |
$ | 31,458 | | |
$ | 4,281,442 | | |
$ | 10,588,835 | |
By
the timing of revenue recognition:
Schedule of timing of revenue recognition
| | |
Six months ended
June 30, 2026 | | |
Six months ended
June 30, 2025 | |
| At a point in time | |
$ | 6,767,591 | | |
$ | 8,808,835 | |
| Over time | |
| - | | |
| 1,780,000 | |
| Total | |
$ | 6,767,591 | | |
$ | 10,588,835 | |
(b)
Contract liabilities
Schedule of contract liabilities
(i)
The Group has recognized the following revenue-related contract liabilities:
| | |
As of | | |
As of | |
| | |
June
30, 2026 | | |
December
31, 2025 | |
| Contract
liabilities - receipts in advance | |
$ | 146,622 | | |
$ | 60,906 | |
(ii)
Revenue recognized that was included in the contract liability balance at the beginning of the year:
| | |
Six
months ended June
30, 2026 | | |
Six
months ended June
30, 2025 | |
| Revenue
recognized from beginning contract liabilities | |
$ | 60,906 | | |
$ | 276,210 | |
|