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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income (loss) $ (3,328,832) $ 14,910,120
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 5,470,487 6,147,032
Allowance for expected credit losses (140,034) (334,164)
Amortization of operating lease 772,936 913,789
Write-down of inventories 3,747,287 3,364,889
Share-based compensation 63,812 266,815
Share of loss (profit) on equity investee (33,802) 18,774
(Gain) loss on disposal of property, plant and equipment 73,136 (184,555)
Gain on disposal on equity investee (45,741)
Changes in operating assets and liabilities:    
Trade and bills receivable (13,769,110) (5,486,254)
Inventories (15,581,379) 5,871,262
Prepayments and other receivable 8,916,710 (1,861,326)
Trade and bills payable 31,147,343 6,260,817
Accrued expenses and other payables and product warranty provisions 2,498,651 1,091,820
Operating lease liabilities (917,073) (1,387,042)
Trade receivable from and payables to former subsidiaries 10,567 66,554
Income tax payable (recoverable) (183,851) 465,430
Net cash provided by operating activities 18,746,848 30,078,220
Cash flows from investing activities    
Deposit paid for acquisition of long-term investment (9,092,679)
Proceeds from disposal of an equity method investees 278,064
Proceeds from disposal of property, plant and equipment 148,527 184,555
Purchases of property, plant and equipment and construction in progress (30,915,389) (11,481,670)
Government subsidy 2,806,991
Acquisition of land use right (1,094,571)
Net cash used in investing activities (29,054,442) (20,111,730)
Cash flows from financing activities    
Borrowings from banks 45,834,843 40,864,500
Repayment of bank borrowings (38,531,653) (47,935,100)
Placement of term deposits (39,200,279) (30,999,022)
Withdrawal of term deposits 43,599,972 17,545,368
Repurchase of common stock (1,500,231)
Proceeds from finance lease 1,112,254
Principal payments of finance leases (2,050,580)
Net cash provided by (used in) financing activities 10,202,652 (21,462,580)
Effect of exchange rate changes on cash and cash equivalents and restricted cash 2,667,611 537,582
Net (decrease) increase in cash and cash equivalents and restricted cash 2,562,669 (10,958,508)
Cash and cash equivalents and restricted cash at the beginning of period 60,786,002 58,822,816
Cash and cash equivalents and restricted cash at the end of period 63,348,671 47,864,308
Supplemental non-cash investing and financing activities:    
Transfer of construction in progress to property, plant and equipment 1,174,924 3,130,934
Lease liabilities arising from obtaining right-of-use assets 497,422 3,504,162
Cash paid during the year for:    
Income taxes 1,853,346
Interest, net of amounts capitalized $ 654,000 $ 378,388