XML 74 R49.htm IDEA: XBRL DOCUMENT v3.25.1
Organization and Nature of Operations - Schedule of Consolidated Financial Information of the VIE and VIE’s Subsidiaries (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 857,212 $ 694,439
Restricted cash 15,070 39,983
Accounts receivable 5,809,374 6,013,536
Notes receivable 522,331 236,654
Inventories, net 2,674,001 2,349,705
Due from parent company 940,130 966,533
Due from a related party 342,053
Prepaid expense and other current assets 2,004,889 1,059,275
Total current assets 12,823,007 11,702,178
Non-current assets    
Property, plant and equipment, net 10,385,742 10,752,745
Prepayment for purchase of Yingxuan Assets 5,339,093 5,207,346
Intangible assets, net 4,432,403 4,659,569
Finance lease right-of-use assets, net 681,845
Deferred tax assets 40,773 10,273
Total Assets 33,021,018 33,013,956
Current liabilities    
Short-term loans 6,079,252 5,726,841
Accounts payable 1,380,202 1,379,161
Due to related parties 32,866
Income tax payable 34,428 33,778
Finance lease obligation, current 45,300
Accrued expenses and other payables 638,610 477,987
Total current liabilities 8,165,358 7,663,067
Long-term loans 3,305,209 3,338,075
Long-term loans - related party 7,895,020 8,122,384
Total Liabilities 19,365,587 19,123,526
Net Assets $ 13,655,431 $ 13,890,430