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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Profit before tax $ 1,109,725 $ 1,035,595
Adjustments    
Depreciation expenses 135,686 250,228
Depreciation expenses-Right-of-use assets 203,138 718,635
Amortization expenses 16,122 17,655
(Reversal gains) expected credit losses (8,365) 81,842
Inventory write-down (reversal) 11,324 (37,569)
Share-based payment 131,712 131,712
Interest income (264,610) (336,375)
Interest expense 402,931 808,681
Changes in operating assets    
Accounts receivable 1,022,077 1,700,993
Accounts receivable – related parties (5,029,583)
Other receivables 12,374 266,750
Inventories (379,402) 363,974
Prepayments (266,049) 102,062
Other current asset (1,083,570)
Other non-current assets 1,697,807
Changes in operating liabilities    
Current contract liabilities (168,424) (367,315)
Accounts payable 15,800 193,767
Other payables 280,537 (1,713,448)
Other current liabilities (144,383) 3,700,296
Cash flows (used in) from operations (2,919,390) 7,531,720
Interest received 264,610 336,375
Interest paid (402,931) (808,681)
Income tax paid (15) (20,764)
Net cash flows (used in) from operating activities (3,057,726) 7,038,650
Cash flows from investing activities    
(Purchase of) sales proceeds from financial assets at amortized cost (213,142) 234,394
Decrease in guarantee deposits 491,940 303,686
Other receivables- related parties (include Long-term receivables-related parties) 201,299 (9,028,904)
Acquisition of property, plant and equipment (25,225) (93,510)
Acquisition of intangible assets (6,937) (16,812)
Proceeds from disposal of land use rights 1,093,203
Proceeds from disposal of consolidated entities 1,363,127 1,744,168
Cash outflow due to reduction in consolidated entities (2,807,668)
Net cash from (used in) investing activities 1,811,062 (8,571,443)
Cash flows from financing activities    
Increase in short-term bank loans 2,034,824 636,035
Payments for lease liabilities (205,321) (206,147)
Proceeds from long-term bank loans 482,284 642,467
Payments on long-term bank loans (421,063) (709,416)
Deferred IPO Cost (480,251) (1,143,376)
Net cash flows from (used in) financing activities 1,410,473 (780,437)
Effect of foreign exchange rate changes (74,165) (76,416)
Net increase (decrease) in cash 89,644 (2,389,646)
Cash and cash equivalents at beginning of year 559,462 2,949,108
Cash and cash equivalents at end of year $ 649,106 $ 559,462