| Accounts receivable, net |
3. Accounts receivable, net
Accounts receivable consisted of the following:
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Accounts receivable | |
$ | 90,010,633 | | |
$ | 82,357,286 | |
| Less: allowances for credit losses | |
| (4,186,070 | ) | |
| (2,969,406 | ) |
| Total accounts receivable, net | |
| 85,824,563 | | |
| 79,387,880 | |
| Less: accounts receivable, net, related parties | |
| (1,499,525 | ) | |
| (727,180 | ) |
| Accounts receivable from third parties, net | |
$ | 84,325,038 | | |
$ | 78,660,700 | |
For the years ended December 31, 2025, 2024 and
2023, allowance for credit losses were $1,057,255, $1,109,347 and $1,933,661, respectively.
Allowance for credit losses movement is as follows:
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Beginning balance | |
$ | (2,969,406 | ) | |
$ | (1,928,486 | ) |
| Allowance for credit losses | |
| (1,057,255 | ) | |
| (1,109,347 | ) |
| Foreign exchange translation | |
| (159,409 | ) | |
| 68,427 | |
| Ending balance | |
$ | (4,186,070 | ) | |
$ | (2,969,406 | ) |
|