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Related Parties Transaction
 9 Months Ended
Sep. 30, 2025
Related Parties Transaction [Abstract]  
Related Parties Transaction

10. Related Parties Transaction

 

As of September 30, 2025 and December 31, 2024, the outstanding balance due from related parties was $3,556,668 and $1,916,298, respectively. Outstanding balances of significant related parties are stated below:

 

      As of 
      September 30,
   December 31, 
Amounts due from related parties:     2025   2024 
      Unaudited     
Ms. Haiyan Xiong  the management of the Jingshan Sanhe   3,501,633    1,866,790 
Mr. Jun Lu  the management of the Jingshan Sanhe   22,809    20,875 
Mr. Bin Zhang  the management of the Jingshan Sanhe   18,736    18,273 
Mr. Yong Yang  the management of Fast Approach   13,490    10,360 
Total     $3,556,668   $1,916,298 

 

These nontrade receivables, as noted above, arise from transactions between the Company and certain related parties, such as loans to these related parties. These loans are unsecured, non-interest bearing and due on demand. Receivables from Ms. Haiyan Xiong mainly include advances to Ms. Haiyan Xiong for procurement of raw material and carriage.

 

As of September 30, 2025 and December 31, 2024, the outstanding balance due to related parties was $2,871,008 and $2,950,972, respectively. The balance was advanced for the working capital of the Company, and is non-interest bearing and unsecured unless further disclosed.

 

Outstanding balance of significant parties are stated below:

 

        As of  
        September 30,     December 31,  
Amounts due to related parties:       2025     2024  
        Unaudited        
Mr. Bin Zhou   Chief Executive Officer and Chairman of the Company   $ 1,627,618     $ 1,299,675  
Ms. Luojie Pu   Independent director of the Company     857,368     $ 836,190  
Hubei Shuang New Energy Technology Co., Ltd.   Ms. Haiyan Xiong owned 35% equity, withdrawn on March 7, 2025     -       438,894  
Xianning Xiangtian Energy Co., Ltd.   Mr. Xin Chen, supervisor of Jingshan Sanhe, acts as legal representative     70,235       68,500  
Ms. Huiying Jin   the management of the Xianning Bozhuang     299,193       291,803  
Ms. Ye Zhang   the management of the Shanghai Shuning     16,594       15,910  
Total       $ 2,871,008     $ 2,950,972  

 

The balance was advanced for the working capital of the Company, and is non-interest bearing and unsecured unless further disclosed.