v3.26.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Total revenues $ 61,791,957 $ 96,909,642 $ 97,098,915
Cost of revenues 42,631,183 63,609,840 63,900,597
Gross profit 19,160,774 33,299,802 33,198,318
Operating expenses      
Selling 4,224,423 6,637,689 7,295,460
General and administrative 3,212,200 7,784,753 6,540,944
Research and development 2,382,984 3,456,098 2,753,315
Allowance for credit losses 1,057,255 1,109,347 1,933,661
Total operating expenses 10,876,862 18,987,887 18,523,380
Income from operations 8,283,912 14,311,915 14,674,938
Other (income) expense:      
Change in fair value in convertible debt 678,297
Interest expense 241,523 1,506,700 250,781
Interest income (1,258,606) (1,014,402) (873,439)
Currency exchange loss (gain) (35,852) (380,254) 153,440
Other (income) expense, net (68,709) (104,557) 95,382
Total other (income) expenses (1,121,644) 685,784 (373,836)
Income before income tax provision 9,405,556 13,626,131 15,048,774
Income taxes expense 2,623,730 2,788,824 3,457,733
Net income 6,781,826 10,837,307 11,591,041
Net loss attributable to non-controlling interests (6,282) (34,376)
Net income attributable to shareholders 6,781,826 10,843,589 11,625,417
Foreign currency translation adjustment 6,653,839 (4,271,912) (3,432,299)
Comprehensive income 13,435,665 6,565,395 8,158,742
Comprehensive loss attributable to non-controlling interests (20,015) (50,161)
Comprehensive income attributable to shareholders $ 13,435,665 $ 6,585,410 $ 8,208,903
Weighted average number of ordinary shares - Basic (in Shares) [1] 376,035 273,717 239,400
Weighted average number of ordinary shares - Diluted (in Shares) [1] 376,035 273,717 239,400
EPS – Basic (in Dollars per share) [1] $ 18.04 $ 39.62 $ 48.56
EPS – Diluted (in Dollars per share) [1] 18.04 39.62 48.56
Class A Ordinary Shares      
Other (income) expense:      
EPS – Basic (in Dollars per share) 18.04 39.62 48.56
EPS – Diluted (in Dollars per share) 18.04 39.62 48.56
Class B Ordinary Shares      
Other (income) expense:      
EPS – Basic (in Dollars per share)
EPS – Diluted (in Dollars per share)
Third party sales      
Revenues      
Total revenues $ 60,960,630 $ 96,141,089 $ 96,682,474
Related party sales      
Revenues      
Total revenues $ 831,327 $ 768,553 $ 416,441
[1] Share and per share number for the years ended December 31, 2024 and 2023 was retroactively restated for 100-for-1 share consolidation with effective date of November 8, 2025.