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Operating revenue
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
Operating revenue

21. Operating revenue

 

  

Year ended

December 31,2025

  

Year ended

December 31,2024

  

Year ended

December 31,2023

 
Revenue from contracts with customers            
Sales of products  $6,766,519   $17,563,985   $23,777,952 
Service provision     2,200,000       -       -  
Service provision – a related party   960,000    -    - 
 Good sales  $9,926,519   $17,563,985   $23,777,952 

 

a) Disaggregation of revenue from contracts with customers

 

i) The Group derives revenue from the transfer of goods at a point in time and the rendering of services over time in the following major product lines and geographical regions:

 

Year ended December 31, 2025  Europe   Asia   Other areas   Total 
Revenue from external customer contracts             
Year ended December 31, 2025  Europe   Asia   Other areas   Total 
Point in time:                
Bicycle frame  $4,678,501   $-   $-   $4,678,501 
Racket   -    181,233    3,430    184,663 
Crank   1,333,799    181,233    -    1,515,032 
Others   

-

    279,622    

108,701

    

388,323

 
Point in time   

6,012,300

    

642,088

    

112,131

    

6,766,519

 
Over time:                    
Service provision   2,200,000    960,000    -    3,160,000 
Total  $8,212,300   $1,602,088   $112,131   $9,926,519 

 

                     
Year ended December 31, 2024  Europe   US   Other areas   Total 
Point in time:                    
Bicycle frame  $13,224,192   $12,775   $1,163,879   $14,400,846 
Racket   939,656    677,491    67,690    1,684,837 
Crank   686,657    -    -    686,657 
Others   -    -    791,645    791,645 
Total  $14,850,505   $690,266   $2,023,214   $17,563,985 

 

                
Year ended December 31, 2023  Europe   Other areas   Total 
Point in time:               
Bicycle frame  $14,675,036   $543,969   $15,219,005 
Racket   5,381,594    1,660,899    7,042,493 
Others   -    1,516,454    1,516,454 
Total  $20,056,630   $3,721,322   $23,777,952 

 

(i) For the year ended December 31, 2025, revenue from other areas primarily represents sales to customers located in the United States.

 

ii) By the timing of revenue recognition:

  

Year ended

December 31, 2025

  

Year ended

December 31, 2024

  

Year ended

December 31, 2023

 
At a point in time  $6,766,519   $17,563,985   $23,777,952 
Over time   3,160,000    -    - 
Total  $9,926,519   $17,563,985   $23,777,952 

 

b) Contract liabilities

(i) The Group has recognized the following revenue-related contract liabilities:

 

   As of   As of 
   December 31, 2025   December 31, 2024 
Contract liabilities - receipts in advance  $60,906   $107,786 

 

(ii) Revenue recognized that was included in the contract liabilities balance at the beginning of the year:

 

  

Year ended

December 31, 2025

  

Year ended

December 31, 2024

 
Revenue recognized from beginning contract liabilities  $106,906   $276,210