|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Cash flows from operating activities: | ||
| Net (loss) income | ||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | ||
| Provision for credit losses | ||
| Deferred tax (benefits) provision expense | ||
| Share-based compensation | ||
| Loss from disposal of property, plant and equipment | ||
| Amortization of operating lease right-of-use assets | ||
| Changes in operating assets and liabilities: | ||
| Accounts receivable | ||
| Accounts receivable a related party | ||
| Notes receivable | ||
| Inventories | ||
| Prepayments and other assets | ||
| Advance to vendors | ||
| Accounts payable | ||
| Accrued expenses and other liabilities | ||
| Advance from customers | ||
| Taxes payable | ||
| Due from related parties | ||
| Operating leases liabilities | ||
| Net cash provided by (used in) operating activities | ||
| Cash flows from investing activities: | ||
| Additions to property, plant, and equipment | ||
| Proceeds from disposal of property and equipment, net | ||
| Acquisition of intangible asset | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities: | ||
| Payments to related parties | ||
| Loans from third party | ||
| (Repayments of) proceeds from bank acceptance notes payable, net | ||
| Proceeds from short-term bank loans | ||
| Repayment of short-term bank loans | ||
| Proceeds from long-term bank loans | ||
| Repayment of long-term bank loans | ||
| Payment of offering costs | ||
| Net cash (used in) provided by financing activities | ||
| Effect of exchange rate changes on cash and restricted cash | ||
| Net increase in cash and restricted cash | ||
| Cash and restricted cash, beginning of year | ||
| Cash and restricted cash, end of year | ||
| Supplemental cash flow disclosures: | ||
| Cash paid for income tax | ||
| Cash paid for interest | ||
| Non-cash activities: | ||
| Right-of-use assets obtained in exchange for operating lease obligations | ||
| Reclassification of deferred offering costs | ||
| Reclassification of construction in progress to inventory | ||
| Cash | ||
| Restricted cash |
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