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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash $ 9,311,537 $ 1,203,160
Short-term investments 8,837,445 4,290,348
Accounts receivable, net 2,118,738 3,271,218
Accounts receivable - related party, net 399,465
Advances to suppliers, net 338,166 481,769
Inventories, net 219,505 430,670
Loans receivable 3,608,289 1,013,157
Prepaid expenses and other current assets 352,919 94,925
Total current assets 24,786,599 11,184,712
Non-current assets    
Non-current accounts receivable 4,597,214 4,209,546
Non-current advance to a third party 410,509 421,679
Non-current loan receivable 4,227,079 4,342,100
Property, equipment and software, net 403,330 122,967
Deferred offering cost 917,446
Operating lease right-of-use assets 3,309 6,641
Long-term investments 1,000,000
Total non-current assets 10,641,441 10,020,379
Total Assets 35,428,040 21,205,091
Current liabilities    
Accounts payable 532,130 696,734
Advances from customers 4,616
Loan payable 493,159 506,578
Deferred revenue 166,760 977,054
Taxes payable 1,917,647 1,671,322
Due to related parties 598
Accrued expenses and other current liabilities 255,131 348,167
Operating lease liabilities 3,309 3,242
Total current liabilities 3,372,752 4,203,695
Non-current Liabilities    
Loan payable, non-current 2,113,539 2,171,050
Deferred income tax liabilities, non-current 1,604,163 1,300,421
Operating lease liabilities, non-current 3,399
Total non-current liabilities 3,717,702 3,474,870
Total Liabilities 7,090,454 7,678,565
Commitments and Contingencies
Shareholders’ Equity    
Ordinary Shares, par value $0.0001 per share, 490,000,000 shares authorized; 14,392,364 shares and 10,987,679 shares issued and outstanding as of December 31, 2023 and 2022, respectively. 1,439 1,099
Additional paid-in capital 16,721,551 2,628,356
Statutory reserve 836,215 836,215
Retained earnings 11,387,748 10,340,107
Accumulated other comprehensive loss (609,367) (279,251)
Total Shareholders’ Equity 28,337,586 13,526,526
Total Liabilities and Shareholders’ Equity $ 35,428,040 $ 21,205,091