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Related Party Transactions
 3 Months Ended
Mar. 31, 2026
Related Parties Transaction [Abstract]  
Related Party Transactions

11. Related Party Transactions

 

As of March 31, 2026 and December 31, 2025, the outstanding balance due from related parties was $3,081,792 and $2,736,302, respectively. Outstanding balances of significant related parties are stated below:

 

      As of 
     

March 31,

   December 31,  
Amounts due from related parties:     2026   2025 
      Unaudited     
Hubei Shuang New Energy Technology Co., Ltd.  Mr. Haiyan Xiong owned 35% equity, withdrawn on March 7, 2025  $276,547   $408,975 
Mr. Haiyan Xiong  the management of the Jingshan Sanhe   2,762,370    2,278,650 
Mr. Jun Lu  the management of the Jingshan Sanhe   23,539    23,219 
Mr. Bin Zhang  the management of the Jingshan Sanhe   19,336    19,073 
Mr. Yong Yang  the management of Fast Approach   
-
    6,385 
Total     $3,081,792   $2,736,302 

 

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 Mr. Haiyan Xiong mainly include advances to Mr. Haiyan Xiong for procurement of raw material and carriage.

 

As of March 31, 2026 and December 31, 2025, the outstanding balance due to related parties was $3,180,701 and $1,924,426, respectively. The balances represent advances for working capital needs of the Company, and are non-interest bearing and unsecured unless otherwise disclosed herein. Pursuant to a tripartite agreement dated March 20, 2026 among the Company, Ms. Luojie Pu and Mr. Bin Zhou, the balance of $872,803 previously owed to Ms. Luojie Pu was assumed by Mr. Bin Zhou and reclassified accordingly.

 

Outstanding balances of significant parties are stated below:

 

      As of 
Amounts due to related parties:    

March 31,

2026

   December 31,
2025		 
      Unaudited     
Mr. Bin Zhou  Chief Executive Officer and Chairman of the Company  $2,774,471   $628,621 
Ms. Luojie Pu  Independent director of the Company; pursuant to a tripartite agreement dated March 20, 2026 among the Company, Ms. Luojie Pu and Mr. Bin Zhou, the balance owed to Ms. Luojie Pu was reclassified to Mr. Bin Zhou.   
-
    872,803 
Xianning Xiangtian Energy Co., Ltd.  Mr. Xin Chen, supervisor of Jingshan Sanhe, acts as legal representative   72,485    71,499 
Ms. Huiying Jin  the management of the Xianning Bozhuang   308,779    304,580 
Ms. Ye Zhang  the management of the Shanghai Shuning   18,575    18,323 
Mr. Yong Yang  the management of Fast Approach   6,391    
-
 
Ms. Caiping Mao  Wife of Haiyan Xiong   
-
    28,600 
Total     $3,180,701   $1,924,426