loss                      958,584      116,428           -- 
   Depreciation and 
    amortization               86,911       83,226       81,625 
   Amortization of lease 
    right-of-use assets       224,451      180,464           -- 
   Share of profit from 
    long-term investment           --       (2,119)      (8,402) 
   Disposal gain from 
    property and 
    equipment                      --     (125,804)    (193,191) 
   Inventory write-downs       11,858       19,981       21,282 
   Deferred tax 
    expenses/(benefits)       148,239     (160,402)      80,519 
   Long-term investment 
   impairment                      --       60,046           -- 
   Changes in operating 
   assets and 
   liabilities: 
   Accounts receivable, 
    net                    (5,023,387)      36,738     (910,221) 
   Other non-current 
    assets                         --           --      (61,039) 
   Prepaid expenses and 
    other current asset, 
    net                     1,870,567   (3,871,930)    (520,377) 
   Inventories, net           601,543     (359,859)     (78,455) 
   Accounts payable          (517,944)     624,347      (11,703) 
   Contract liabilities         3,137       84,680      371,639 
   Accrued expenses and 
    other current 
    liabilities               (37,987)     (25,816)     152,448 
   Amounts due from 
    related parties                --       34,552      (40,098) 
   Amounts due to related 
    parties                   446,469      139,772      946,379 
   Tax payable                436,384      113,597      272,148 
   Operating lease 
    liabilities              (178,037)    (178,341)          -- 
                           ----------   ----------   ---------- 
   Net cash (used 
    in)/provided by 
    operating activities   (1,635,394)  (3,883,168)   1,168,928 
                           ----------   ----------   ---------- 
 
   Cash flow from 
   investing 
   activities 
   Purchase of property 
    and equipment                  --      (12,137)    (481,391) 
   Proceeds from disposal 
    of property and 
    equipment                      --    1,745,094    1,265,217 
   Proceed from 
    withdrawal of 
    long-term investment       44,570       93,574           -- 
   Provide short-term 
    loan to third party      (410,000)          --           -- 
   Purchase of long-term 
    investments                    --           --      (40,098) 
                           ----------   ----------   ---------- 
   Net cash (used 
    in)/provided by 
    investing activities     (365,430)   1,826,531      743,728 
                           ----------   ----------   ---------- 
 
   Cash flow from 
   financing 
   activities 
   Proceeds from 
   issuance of Class A 
   ordinary shares upon 
   the completion of 
   IPO                      5,356,417           --           -- 
   Proceeds from 
   issuance of 
   convertible bonds          999,957           --           -- 
   Payment of service 
    fees for convertible 
    bonds                    (351,000)          --           -- 
   Proceeds from 
    short-term debts          133,044           --      160,391 
   Proceeds from 
    long-term debts                --    1,238,592    1,167,861 
   Repayments of 
    short-term debts         (101,778)    (107,963)    (280,692) 
   Repayments of 
    long-term debts        (1,325,703)  (1,918,181)  (1,001,815) 
   Proceed of 
   interest-free loan 
   from related 
   parties                  3,031,467           --           -- 
   Repayments of loans to 
    a related party        (4,593,092)          --           -- 
   Capital contribution 
   from shareholder                --    1,430,612           -- 
   Payments for deferred 
    offering costs           (273,287)  (1,041,447)          -- 
                           ----------   ----------   ---------- 
   Net cash provided 
    by/(used in) 
    financing activities    2,876,025     (398,387)      45,745 
                           ----------   ----------   ---------- 
   Effect of exchange 
    rate changes               18,051     (123,887)     (51,067) 
                           ----------   ----------   ---------- 
   Net change in cash and 
    cash equivalents          893,252   (2,578,911)   1,907,334 
   Cash and cash 
    equivalents, 
    beginning of the 
    year                    1,107,480    3,686,391    1,779,057 
                           ----------   ----------   ---------- 
   Cash and cash 
    equivalents, end of 
    the year                2,000,732    1,107,480    3,686,391 
                           ----------   ----------   ---------- 
 
   Supplemental 
   disclosures of cash 
   flow information: 
   Income tax paid              2,050      150,124       33,291 
   Interest expense paid       48,607       65,901       57,776 
 
   Supplemental 
   disclosures of 
   non-cash 
   activities: 
   Obtaining right-of-use 
    assets in exchange 
    for operating lease 
    liabilities               209,652      805,409          N/A 
 

(END) Dow Jones Newswires

January 24, 2025 17:15 ET (22:15 GMT)