v3.26.3
Notes Payable
9 Months Ended
Sep. 30, 2026
Notes Payable [Abstract]  
NOTES PAYABLE

NOTE 11 – NOTES PAYABLE

 

    As of  
    September 30,
2026
    December 31,
2025
 
Bank acceptance notes   $ 29,075,994     $ 12,759,720  
Total   $ 29,075,994     $ 12,759,720  

 

The interest-free notes payable, ranging from six months to one year from the date of issuance, were secured by $0.75 million and $0.07 million of restricted cash, and $2.14 million and $3.43 million of notes receivable, as of September 30, 2026 and December 31, 2025, respectively.

 

All the notes payable are subject to bank charges of 0.05% of the principal amount as commission, included in the financial expenses in the statement of operations, on each loan transaction. The notes payable bear no interests.