v3.26.3
Deferred Revenue
 9 Months Ended
Sep. 30, 2026
Deferred Revenue [Abstract]  
DEFERRED REVENUE

NOTE 15 – DEFERRED REVENUE

 

Deferred revenue is summarized as follows:

 

    As of  
    September 30,
2026		     December 31,
2025		  
Subsidy     946,831       1,083,784  
Total   $ 946,831     $ 1,083,784  

 

Changes in the deferred revenue are as follows:

 

    For the
nine months
ended
September 30,
2026		     For the
Year Ended
December 31,
2025		  
Beginning balance   $ 1,083,784     $ 1,263,180  
Recognized as revenue during the period     (180,473 )     (228,357 )
Effect of foreign exchange change     43,520       48,961  
Ending balance   $ 946,831     $ 1,083,784  

 

Subsidy mainly consists of an incentive granted by the Chinese government to encourage transformation of fixed assets in China and other miscellaneous subsidy from the Chinese government. As of September 30, 2026, grant income decreased by $0.14 million, as compared to December 31, 2025. The change was mainly due to timing of incurring qualifying expenses.