XML 22 R12.htm IDEA: XBRL DOCUMENT v3.25.2
Notes Payables
 6 Months Ended
Jun. 30, 2025
Notes Payables [Abstract]  
NOTES PAYABLES
6. NOTES PAYABLES

 

   As of
June 30,
2025		   As of
December 31,
2024		 
Bank acceptance notes payable issued by Industrial Bank Fuzhou Branch  $
-
   $6,955 
Commercial acceptance notes payable guaranteed by China Postal Savings Bank Fuzhou Branch   8,404    4,196 
Letters of Credit issued by Industrial Bank Fuzhou Branch (a)   3,772    3,756 
Total  $12,176   $14,907 

 

(a) On September 30, 2024 and October 31, 2024, Industrial Bank Fuzhou Branch issued letter of credits approximately $1.8 million (RMB13.0 million) and approximately $2.0 million (RMB14.0 million) to the Company with due date of September 27, 2025 and September 30, 2025. These letters of credit were drawn down from Industrial Bank Fuzhou Branch’s credit line. 

 

The movement of notes payable is as follows:

 

   For the Six Months Ended
June 30,		 
   2025   2024 
Beginning balance  $14,907   $8,471 
Additions   4,190    19,000 
Repayments   (6,974)   (16,889)
Exchange rate effect   53    (58)
Total  $12,176   $10,524