Related Party Transactions |
12 Months Ended | ||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||
| Related Party Transactions [Abstract] | |||||||||||||||||||||
| Related party transactions | Note 13 – Related party transactions
The relationship and the nature of related party transactions are summarized as follow:
Due to related parties:
The balance due to related parties amounted to $2,920,330 and $925,100 as of December 31, 2025 and 2024, respectively. These are due to related parties, subsidiaries of Longrich Group and Jowell Holdings Limited, are typically short-term in nature, interest-free and repayable upon demand.
Related party lease:
As of December 31, 2025, the Company had five leases from its related party, subsidiaries of Longrich Group, which are controlled by a major shareholder of the Company. The Company is obligated to pay a quarter base rent under these lease agreements. See Note 14 for further discussion.
Related party purchases:
The Company periodically purchases merchandise from Longrich Group and its subsidiaries during the ordinary course of business. The purchases made from Longrich Group were $134,245,743, $37,414,302 and $34,258,761 for the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025 and 2024, the Company had accounts payable of $4,838 and $70,258 related to these purchases.
Related party sales:
The Company made sales to related parties controlled by a major shareholder of the Company, in the amount of , $17,860 and $6,853 for the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025 and 2024, the Company had accounts receivable of and related to these sales. |