XML 29 R7.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net (loss) income $ (4,750,143) $ 111,603 $ 491,401
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation of property and equipment 160,313 146,161 118,333
Amortization on land use right 7,621 7,132 7,158
Gain on disposal of property and equipment (4,857)
Property and equipment written off 1 708 1,352
Allowance for credit losses 123,122 242,818 119,662
Impairment of goodwill 196,174
Impairment of equity investees 3,083,478
Deferred tax 4,594 (58,540) (16,702)
Share of results of equity investees 7,637
Inventory write-downs 95,345
Amortization of rights of use assets 38,115 46,947 14,034
Changes in operating assets and liabilities:      
Accounts receivable 72,442 170,975 (743,070)
Other receivables, deposits and prepayments (350,591) (132,539) (28,858)
Accounts payable 436,019 (274,908) (8,654)
Accrued expenses and other payables 115,417 265,822 15,092
Deferred revenue (1,037,013) 687,414 126,718
Operating lease liabilities (40,882) (46,532) (14,365)
Inventories 207,570 (401,440) 531,557
Related parties (767,412) 74,312 238,607
Taxes payable (33,745) (86,475) (196,469)
Net cash (used in) provided by operating activities (2,436,795) 753,458 655,796
Cash flows from investing activities      
Purchase of property and equipment (281,745) (51,519) (73,087)
Proceeds from disposal of property and equipment 4,857
Acquisition of equity investees (350,000)
Assets acquisitions (2,999,872)
Acquisition of subsidiaries, net of cash acquired (144,498)
Net cash used in investing activities (3,771,258) (51,519) (73,087)
Cash flows from financing activities      
Payment of offering costs (1,801,983) (356,423) (338,967)
Proceeds from initial public offering, net 8,960,000
Repayment of borrowings (66,913) (57,002) (55,315)
Repayment of finance lease liabilities (64,135) (52,218) (48,512)
Cash provided by (used in) financing activities 7,026,969 (465,643) (442,794)
Effects of foreign exchange rate on cash and cash equivalents and restricted cash 291,214 51,033 (57,398)
Net increase in cash and cash equivalents and restricted cash 1,110,130 287,329 82,517
Cash and cash equivalents and restricted cash at beginning of year 1,190,629 903,300 820,783
Cash and cash equivalents and restricted cash at end of year 2,300,759 1,190,629 903,300
Total cash and cash equivalents and restricted cash shown in the statements of cash flows      
Cash and cash equivalents 2,300,759 1,056,732 777,125
Restricted cash 133,897 126,175
Total 2,300,759 1,190,629 903,300
Supplemental disclosures of cash flow information:      
Interest paid 16,725 20,958 22,309
Income taxes paid $ 114,364 $ 149,792 $ 411,617