v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net loss $ (32,502,645) $ (11,940,536) $ (8,083,640)
Adjustments to reconcile net loss to net cash used in operating activities      
Allowance for credit losses 824,520 127,263 185,283
Share-based compensation 20,942,224 7,030,846 7,456,800
Write-down of inventories 5,160 43,190 155,600
Depreciation and amortization 275,252 232,918 202,884
Reduction in the carrying amount of right-of-use assets 526,732 421,214 318,393
Loss on disposal of property and equipment     2,044
Changes in fair value of financial instruments (127,908) 87,836 1,472,118
Gain on extinguishment of convertible debts   (233,216)  
Loss on modification of operating lease contract 11,890    
Unrealized foreign currency transaction (gain) loss (546,226) 218,085 (205,823)
Changes in operating assets and liabilities:      
Accounts receivable 4,722,657 668,143 (5,062,424)
Amounts due from related parties (744,558) (1,330,296) (469,422)
Inventories (1,840,199) (1,260,086) (663,491)
Prepayments and other assets 2,879,268 (4,706,046) 167,284
Accounts payable (2,124,017) 2,415,557 (859,571)
Contract liabilities 711,340 1,955,497 (1,533,075)
Amounts due to a related party 34,877 126,926  
Operating lease liabilities (459,789) (458,338) (345,391)
Accrued expenses and other current liabilities (35,080) (689,051) 1,615,056
Other non-current liabilities (80,181) 88,526 71,864
Net cash used in operating activities (7,526,683) (7,201,568) (5,575,511)
Investing activities:      
Issuance of a loan to a related party     (94,738)
Proceeds from collection of the loan to a related party   25,071  
Issuance of a loan to a related party of a shareholder   (1,404)  
Proceeds from collection of the loan to a related party of a shareholder   56,333 2,886,378
Loans provided to third parties (821,769)    
Cash paid for purchase of property and equipment and intangible assets (677,415) (613,657) (525,915)
Net cash provided by (used in) investing activities (1,499,184) (533,657) 2,265,725
Financing activities:      
Proceeds from short-term bank borrowings 4,199,987 8,522,049 6,298,822
Repayment of short-term bank borrowings (6,767,761) (7,263,737) (4,649,967)
Interest free advances to the Founders and executive officers     (704,543)
Proceeds from collection of advances to the Founders and executive officers   675,939 271,575
Proceeds from sale of ordinary shares through public offering   19,091,338  
Cash paid to the existing equity holders of X-Charge Technology in connection with the restructuring     (32,947,273)
Cash received from the existing equity holders of X-Charge Technology in connection with the restructuring     32,947,273
Cash paid to convertible debts holders of Beijing X-Charge Technology in connection with the conversion of convertible debts   (7,020,816)  
Cash received from the convertible debt holders of Beijing X-Charge Technology in connection with the conversion of convertible debts   7,020,816  
Payments of initial public offering ("IPO") cost and follow-up offering cost (1,759,316) (1,875,977) (1,525,934)
Proceeds from issuance of the convertible debts     11,053,172
Net cash provided by (used in) financing activities (4,327,090) 19,149,612 10,743,125
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash 487,334 (333,295) (410,966)
Net increase (decrease) in cash, cash equivalents and restricted cash (12,865,623) 11,081,092 7,022,373
Cash, cash equivalents and restricted cash at the beginning of the year 26,773,902 15,692,810 8,670,437
Cash, cash equivalents and restricted cash at the end of the year 13,908,279 26,773,902 15,692,810
Supplemental cash flow information:      
Interest paid 127,556 212,732 $ 76,901
Income taxes paid 45,457 82,557  
Non-cash investing and financing activities:      
Accrual of IPO and follow-up offering cost 522,813 1,168,175  
Conversion of convertible debts into series B+ convertible redeemable preferred shares   9,651,560  
Extinguishment of convertible debts   2,720,155  
Conversion of convertible preferred shares to Class A ordinary shares   52,697,376  
Deferred offering costs charged against additional paid-in capital   $ 4,264,457  
ROU assets disposed as reduction of operating lease liabilities due to lease modification $ 345,622