| Advance to suppliers, net |
Note 6 – Advance to suppliers, net
The Company makes periodic advances to its suppliers
for product purchases in the normal course of business. Advances to suppliers consisted of the following:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| | |
| | |
| |
| Advances for product purchases from third-parties | |
$ | 579,170 | | |
$ | 826,317 | |
| Advances for product purchases from related parties | |
| 5,857,030 | | |
| 2,768,600 | |
| Subtotal | |
| 6,436,200 | | |
| 3,594,917 | |
| Less: allowance for impairment | |
| (498,156 | ) | |
| (341,035 | ) |
| Advance to suppliers, net | |
$ | 5,938,044 | | |
$ | 3,253,882 | |
The following table presents movement in the
allowance for impairment:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| | |
| | |
| |
| Balance as of the beginning of year | |
$ | 341,035 | | |
$ | 569,799 | |
| Additions (reversals) | |
| 146,992 | | |
| (222,449 | ) |
| Translation adjustments | |
| 10,129 | | |
| (6,315 | ) |
| Balance as of the end of year | |
$ | 498,156 | | |
$ | 341,035 | |
|