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Unaudited Condensed Consolidated Statements of Cash Flows
6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Cash flows from operating activities    
Net loss $ (2,840,146) $ (6,040,235)
Share-based compensation 245,176 607,742
Interest expense 369,071 318,902
Depreciation and amortization 2,600,280 2,381,550
Deferred tax benefits (221) (223)
Investment income (47,467) (84,295)
Allowance for credit loss (69,493)
Impairment on inventory 2,845,727
Amortization of right-of-use assets 308,661 310,139
Changes in operating assets and liabilities:    
Accounts receivable 6,227,109 (3,981,127)
Notes receivable 1,145,232 581,834
Due from related parties 215,668 277,583
Due to related parties (336,312) (687,547)
Inventories (12,217,689) (12,710,848)
Prepaid expenses and other current assets (3,181,116) (1,858,646)
Accounts payable (10,081,366) 11,987,598
Notes payable (2,732,916) (1,310,723)
Income taxes payable 19,486
Deferred revenue 894,206 254,393
Accrued expenses and other current liabilities (375,491) 138,769
Net cash used in operating activities (19,876,814) (6,949,921)
Cash flows from investing activities    
Purchase of plant, property and equipment (4,998,562) (983,157)
Purchase of land use rights (3,644,682)
Loans to related parties (689,408)
Repayment of loans to third parties 16,632
Redemption of short-term investment 2,371,942
Prepaid for investment (66,519)
Repayment of prepaid for investment 706,861
Net cash (used in) provided by investing activities (9,332,652) 2,045,759
Cash flows from financing activities    
Loan from related parties   8,206,112
Repayment on loan from related parties (1,957,919) (6,580,215)
Proceeds from short-term loan 5,653,145 693,001
Repayment on short-term loan (1,654,579) (2,772,003)
Proceeds from long-term loan 41,364,476 27,761,608
Repayment on long-term loan (346,528) (4,158,004)
Prepayment of acquisition cost of long-term loan (1,251,670)
Repayment on long-term payable (1,885,360) (2,557,090)
Repayment on finance lease liabilities (1,302,622) (1,274,358)
Proceeds from subscription receivable 100,000
Proceeds from advance capital contributions (Note 17) 6,894,079
Net cash provided by financing activities 46,864,692 18,067,381
Effect of foreign exchange rate on cash and cash equivalents 143,018 (166,046)
Net increase in cash and cash equivalents 17,798,244 12,997,173
Cash, cash equivalents and restricted cash, beginning of period 9,610,142 3,620,667
Cash, cash equivalents and restricted cash, end of period 27,408,386 16,617,840
Cash, cash equivalents and restricted cash, end of period 27,408,386 16,617,840
Less: restricted cash 7,486,988 1,382,495
Cash and cash equivalents, end of period 19,921,398 15,235,345
Supplemental disclosure of cash flow information    
Interest paid 1,900,949 830,069
Income tax paid 360
Supplemental noncash transactions    
Plant, property and equipment obtained from finance lease right-of-use assets at the end of the lease term $ 2,831,398