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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current Assets    
Cash and bank balances $ 8,072,936 $ 5,916,373
Restricted cash 1,046,771 1,034,203
Accounts receivable (net of allowance for doubtful accounts of $90,225 and $53,111 as of September 30, 2025 and December 31, 2024, respectively) 2,079,190 287,576
Inventories 3,899,571 2,351,876
Prepayments and other current assets 19,650,854 17,951,267
Total current assets 35,764,365 28,461,303
Prepayment on property, plant and equipment 8,444
Operating lease right-of-use assets, net 347,477 421,868
Property, plant, and equipment, net 137,903,414 146,911,883
Value-added tax recoverable 1,674,492 1,751,732
Deferred tax asset non-current
Total Assets 175,698,192 177,546,786
Current Liabilities    
Short-term bank loans 5,094,645 4,451,616
Current portion of long-term loans 3,559,902
Lease liability 113,786 245,604
Accounts payable 1
Advance from customers 11,911 11,773
Accrued payroll and employee benefits 369,886 207,508
Other payables and accrued liabilities 12,393,873 11,545,990
Income taxes payable 308,636 80,905
Total current liabilities 18,667,302 20,146,767
Long-term loans 4,727,324 1,112,904
Lease liability - non-current 254,030 231,147
Derivative liability 5,651
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $18,629,300 and $16,976,765 as of September 30, 2025 and December 31, 2024, respectively) 23,648,656 21,496,469
Commitments and Contingencies
Stockholders’ Equity    
Common stock $0.001 par value per share; Authorized: 50,000,000 shares; Issued and outstanding: 16,965,420 shares as of September 30, 2025 and 10,065,920 shares as of December 31, 2024, respectively. 16,965 10,066
Additional paid-in capital 90,228,996 89,172,771
Statutory earnings reserve 6,080,574 6,080,574
Accumulated other comprehensive loss (11,159,033) (12,998,986)
Retained earnings 66,882,034 73,785,892
Total stockholders’ equity 152,049,536 156,050,317
Total Liabilities and Stockholders’ Equity 175,698,192 177,546,786
Related Party    
Current Assets    
Due from related parties 1,015,043 920,008
Current Liabilities    
Due to related parties $ 374,565 $ 43,468