v3.26.3
Unaudited Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 17,029,441 $ 8,388,754
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,594,722 1,558,802
Amortization of deferred revenue (180,473) (170,494)
Increase in allowance for credit losses 40,980
Write-off of inventory provision due to sale of previously impaired inventory (189,022)
Change in fair value of warrant liability (65,814) (1,816,385)
Stock based compensation expense 6,953,444
Non-cash lease expenses 459,323
Accrued interest income derived from loan to related parties (2,012) (7,097)
Accrued expense (679,729) (2,002,502)
Decrease (Increase) In:    
Accounts receivable (8,923,481) (5,302,749)
Notes receivable (5,252,963) 6,752,317
Inventories (91,395) 60,185
Advance to suppliers (88,526) 288,242
Other current and noncurrent assets (16,442,055) (12,077,748)
Increase (Decrease) In:    
Accounts payable 6,914,444 3,940,411
Contract liabilities 37,268 (35,202)
Other current liabilities 38,691 451,110
Income tax payable (666,370) 818,321
Lease liabilities (459,698)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (6,926,294) 7,799,034
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of long-term assets (1,572,939) (265,467)
Loan payment to third parties (12,623,129) (692,511)
Repayment of loans lend to third parties 2,123,304 277,004
NET CASH USED IN INVESTING ACTIVITIES (12,072,764) (680,974)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from short-term bank loans 2,932,164
Notes payable 15,497,955 (5,483,304)
Proceeds from related parties 597,029 160,000
Repayment of loans from related parties (94,442) (6,262,465)
Dividend paid (3,069,020) (674,520)
Proceeds from equity and debt financing 5,584,996
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 21,448,682 (12,260,289)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 2,449,624 (5,142,229)
Effect of exchange rate changes on cash 21,169 472,563
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 7,846,870 8,611,795
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 10,317,663 3,942,129
Bank balances and cash at end of period 9,571,895 3,942,129
Bank balances and cash included in assets classified as restricted cash at end of period 745,768
Supplemental Disclosure of Cash Flow Information    
Income taxes paid 3,679,104 2,184,151
Interest paid $ 59,816