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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 2,595,614 $ 10,210,084
Accounts receivable, net 5,382,674 4,826,637
Inventories, net 25,092,482 27,258,640
Advance to suppliers 341,778 99,076
Due from a related party 8,576
Prepaid and other current assets 1,228,523 1,220,432
Total current assets 34,641,071 43,623,445
NON-CURRENT ASSETS    
Property and equipment at cost, net 492,669 532,259
Right of use operating lease assets, net 7,914,944 9,485,899
Right of use financing lease assets, net 40,893 71,801
Other non-current assets 49,500 49,500
Deferred tax assets 1,241,337 1,126,614
Total non-current assets 9,739,343 11,266,073
TOTAL ASSETS 44,380,414 54,889,518
CURRENT LIABILITIES    
Accounts payable 4,699,212 9,572,444
Other payable, accrued expenses and other current liabilities 6,122,518 6,169,193
Return liabilities 22,989 261,588
Warranty liabilities 238,959 503,553
Contract liabilities 363,743 449,999
Current portion of obligations under operating leases 2,034,503 2,119,894
Current portion of obligations under financing leases 32,991 43,421
Income tax payable 1,085,103 1,072,263
Due to a shareholder 2,130,248 5,546,548
Total current liabilities 16,730,266 25,738,903
NON-CURRENT LIABILITIES    
Obligations under operating leases, non-current 5,919,867 7,412,693
Obligations under financing leases, non-current 11,638 33,602
Total non-current liabilities 5,931,505 7,446,295
TOTAL LIABILITIES 22,661,771 33,185,198
Commitments and Contingencies
EQUITY    
Common shares, $0.001 par value, 100,000,000 shares authorized, 41,640,950 and 41,539,950 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 41,640 41,539
Additional paid-in-capital 7,113,750 6,614,907
Retained earnings 14,563,253 15,047,874
Total equity 21,718,643 21,704,320
TOTAL LIABILITIES AND EQUITY $ 44,380,414 $ 54,889,518