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Bank Loans
 3 Months Ended
Mar. 31, 2026
Bank Loans [Abstract]  
Bank Loans

13. Bank Loans

 

The outstanding balances on short-term and long-term bank loans consisted of the following:

 

          As of 
Lender  Maturities  Interest rate  

March 31,

2026

   December 31,
2025		 
          Unaudited     
Jingshan City branch of Postal Saving Bank of China  Due in January 2026   3.63%  $
-
   $914,759 
Jingshan City branch of Postal Saving Bank of China  Due in February 2028   4.45%   900,261    
-
 
Jingshan City branch of Agricultural Bank of China  Due in March 2026   3.3%   
-
    1,136,835 
Jingshan City branch of Agricultural Bank of China  Due in March 2027   3.0%   1,152,508    
-
 
Hubei Jingshan Rural Commercial Bank Co. Ltd.  Due in March 2026   3.2%   
-
    700,690 
Hubei Jingshan Rural Commercial Bank Co. Ltd.  Due in March 2027   3.2%   710,351    
-
 
Jingmen Branch of Bank of China  Due in June 2026   3.0%   1,159,756    1,143,985 
Hubei Jingshan Rural Commercial Bank Co. Ltd.  Due in June 2026   4.0%   434,909    428,994 
Hubei Bank Jingshan Branch.  Due in December 2026   3.0%   1,014,787    1,000,987 
Hubei Jingshan Rural Commercial Bank Co. Ltd.  Due in August 2026   4.58%   289,939    285,996 
Chajiaduo supply chain Hubei co., Ltd  Due in February 2026   
-
    
-
    71,499 
Mr. Wei Jin  Due in December 2025   12%   
-
    71,499 
Bank overdraft           1,859    785 
Total          $5,664,370   $5,756,029 

 

The loan from the Jingshan City branch of Postal Savings Bank of China was obtained to support general working capital, with no guarantee requirement for this loan.

 

The loan from the Jingshan City branch of Agricultural Bank of China was obtained to support general working capital, with a comprehensive guarantee provided by Mr. Bin Zhou and Hubei Bulaisi Technology Co., Ltd..

 

The loan from the Hubei Jingshan Rural Commercial Bank Co. Ltd. was obtained to support general working capital, with certain buildings and land use rights of Hubei Ruishengchang Industrial Co., Ltd. in the amount of RMB3.6 million (equivalent to $521,890) pledged as collateral, as well as comprehensive guarantee provided by Mr. Bin Zhou, Mr. Bin Zhang, senior management of the Company, Mr. Ge Wei, a third-party individual, Hubei Bulaisi Technology Co., Ltd. and Hubei Ruishengchang Industrial Co., Ltd., which is under control of Mr. Ge Wei.

The loan from Jingmen Branch of Bank of China was obtained to support general working capital, with no guarantee requirement for this loan.

 

The loan from Hubei Bank Jingshan Branch was obtained to support general working capital, with a comprehensive guarantee provided by Mr. Bin Zhang, his wife Ms. Shunhui Gao, and Hubei Bulaisi Technology Co., Ltd., which is under the company’s control.

 

The loan from Chajiaduo Supply Chain Hubei Co., Ltd. was obtained to support general working capital, with no guarantee requirement.

 

The loan from Mr. Wei Jin was obtained to support general working capital, with no guarantee requirement.

 

Interest expense for the three months ended March 31, 2026 and 2025 was $49,144 and $22,512, respectively.