v3.26.1
Prepaid Expenses
12 Months Ended
Dec. 31, 2025
Prepaid Expenses [Abstract]  
Prepaid Expenses

4. Prepaid Expenses

 

Prepaid expenses as of December 31, 2025 and 2024 consisted of the following:

 

   December 31,
2025
   December 31,
2024
 
   US$   US$ 
Prepayment for materials   5,660,663    7,685,696 
Prepayment for utilities   258,198    1,382,938 
Prepayment for others   193,918    120,280 
Total   6,112,779    9,188,914 

 

During the year ended December 31, 2025, the Company recorded an impairment of US$3,968,211 (2024: US$nil, 2023: US$nil) related to prepaid expenses. The impairment is included in costs of revenues on the consolidated statements of operations and comprehensive (loss) income.