v3.26.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 11,811,614 $ 6,476,772 $ 5,567,174
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation of property, plant and equipment 907,254 899,091 686,724
Non-cash operating lease expense 54,168 221,588 209,021
Deferred income tax (13,591) (35,045) (28,906)
Changes in assets and liabilities      
Accounts receivable (9,694,197) (15,079,074) (57,511)
Inventories (2,123,552) 735,769 9,298,035
Advances to suppliers (1,961,267) 650,375 (375,864)
Other receivables and current assets (216,599) 273,505 6,417
Other non-current assets (706,820)    
Advances from customers (591,151) (4,534,204)
Accounts payable (4,058,557) 5,372,783 (8,567,099)
Other payables and accrued expenses 159,142 388,197 (467,010)
Taxes payable (246,017) 2,635,002 2,109,837
Due to related parties (399,004) 126,410 259,265
Operating lease liabilities (3,245,003) (64,484) (45,044)
Net cash (used in) provided by operating activities (9,732,429) 2,009,738 4,060,835
Cash flows from investing activities      
Purchase of fixed assets (29,591) (11,542) (3,835,841)
Loan to a third party (2,000,000)
Net cash used in investing activities (2,029,591) (11,542) (3,835,841)
Cash flows from financing activities      
Payment of deferred offering costs (256,256) (17,678)
Net proceeds from stock issuance 10,100,653
Principal payments on financed amount for purchase of vehicle (15,337) (1,282)
Net cash provided by (used in) financing activities 10,085,316 (257,538) (17,678)
Effect of exchange rate changes on cash and cash equivalents 786,355 (29,503) (295,349)
Net (decrease) increase of cash and cash equivalents (890,349) 1,711,155 (88,123)
Cash and cash equivalents – beginning of the year 1,847,634 136,479 224,602
Cash and cash equivalents – end of the year 957,285 1,847,634 136,479
Supplementary cash flow information:      
Interest paid 6,454 501
Income taxes paid 2,236 1,027 18,101
Non-Cash financing and investing activities:      
Fixed assets financed for purchase of vehicle 46,168
Recognition of right-of-use assets through lease liabilities $ 5,750,596