| Other receivables |
Note 5 – Other receivables
Other receivables consist of the following:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| Other receivables | |
| | |
| |
| Advances for operational purpose1 | |
$ | 2,052 | | |
$ | 2,942,424 | |
| Lending – non-interest-bearing | |
| - | | |
| 24,249 | |
| VAT receivables | |
| 399,818 | | |
| | |
| Others | |
| - | | |
| 12,697 | |
| Provision for credit loss | |
| (2,052 | ) | |
| (25,988 | ) |
| Exchange rate effect | |
| 11,053 | | |
| 369 | |
| Total Other receivables | |
$ | 410,871 | | |
$ | 2,953,751 | |
| | 1. | As of December 31, 2024, the Company had entered into contracts
with Ningbo Luxiang Logistics Co., LTD. and Ningbo Zhongjin International Logistics Co., LTD. for amounts of $1,640,236 and $1,248,126,
respectively. In December 2024, both agreements were terminated due to the suppliers’ inability to continue providing services.
The Company fully recovered the related other receivables of $1,640,236 and $1,248,126 in 2025, respectively. |
|