$TRSG

Tungray Technologies Inc

CIK:0001943444|SEC Filings

Consolidated Statements of Income and Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Details {2}
Revenue - products	$ 15,618,859	$ 12,770,907	$ 14,042,956
Revenue - related party	4,849	39,342	319,546
Total revenues	15,623,708	12,810,249	14,362,502
Cost of revenue - products	8,443,494	7,187,415	7,378,471
Cost of revenue - related party	7,059	25,291	273,122
Total cost of revenues	8,450,553	7,212,706	7,651,593
Gross profit	7,173,155	5,597,543	6,710,909
Operating expenses
Selling expenses	957,572	595,995	421,869
General and administrative expenses	5,482,336	4,594,438	4,397,603
Research and development expenses	975,055	1,063,210	791,762
Total operating expenses	7,414,963	6,253,643	5,611,234
(Loss) Income from operations	(241,808)	(656,100)	1,099,675
Other income
Other income, net	268,404	220,477	336,576
Lease income - related party	17,224	19,762	19,126
Financial (expense) income, net	(82,978)	122,226	(160,735)
Total other income, net	202,650	362,465	194,967
(Loss) Income before income taxes	(39,158)	(293,635)	1,294,642
Income tax expense	(131,119)	(278,082)	(537,881)
Net (loss) income	(170,277)	(571,717)	756,761
Less: net loss attributable to noncontrolling interests	(156,861)	(91,698)	(99,775)
Net (loss) income attributable to Tungray Technologies Inc	(13,416)	(480,019)	856,536
Foreign currency translation adjustment	996,125	(735,131)	113,999
Comprehensive income (loss)	825,848	(1,306,848)	870,760
Less: comprehensive loss attributable to noncontrolling interests	(150,903)	(99,086)	(100,078)
Total comprehensive income (loss) attributable to Tungray Technologies Inc	$ 976,751	$ (1,207,762)	$ 970,838
Weighted average number of common shares outstanding - basic and diluted	16,353,485	15,949,600	15,000,000
Earnings (Loss) per common share - basic and diluted	$ (0)	$ (0.03)	$ 0.06

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net (loss) income	$ (170,277)	$ (571,717)	$ 756,761
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities
Depreciation expense	387,066	365,366	248,146
Amortization expense	28,025	10,269	15,118
Provision for credit losses or doubtful accounts	31,609	217,471	190,983
Write-down of inventories	(5,195)	129,686	6,713
Deferred tax expense (benefits)	0	0	74,616
Amortization of operating lease right-of-use assets	325,619	261,754	154,455
Amortization of finance lease right-of-use assets	23,809	11,951	0
Loss from disposal of property and equipment	0	1,046	0
Changes in operating assets and liabilities
Accounts and notes receivable	(977,781)	1,019,565	(1,371,684)
Accounts receivable - related parties	(516)	(16,938)	(218,421)
Prepayments	167,076	(530,103)	275,082
Prepayments - related parties	734,101	(2,889,728)	(1,004,692)
Inventories	(1,035,063)	(117,157)	(909,054)
Other receivables and other current assets	(72,096)	(335,891)	(52,168)
Prepaid expenses and deposits	304,325	(57,373)	(1,107)
Operating lease receivable - related party	(21,904)	0	0
Accounts payable	436,106	345,455	(25,698)
Accounts payable - related party	378,440	(411,139)	392,777
Contract liabilities	(3,502,282)	2,244,964	2,146,876
Accrued expenses and other payables	342,477	201,624	307,405
Operating lease liabilities	(144,786)	(132,525)	(34,652)
Operating lease liabilities - related parties	(303,181)	(102,751)	(204,940)
Other payables - related parties	(58,690)	18,794	0
Taxes payable	86,440	(474,512)	(295,495)
Net cash (used in) provided by operating activities	(3,046,678)	(811,889)	451,021
Cash flows from investing activities
Purchases of property, plant and equipment	(799,279)	(450,637)	(43,254)
Purchase of intangible assets	(208,898)	(15,170)	(37,993)
Disposal of property, plant and equipment	54,147	0	0
Prepayment for land use right	0	(2,016,296)	0
Disposal a subsidiary	(478)	0	0
Loans to related parties	(2,673,715)	(301,949)	(677,765)
Repayments from related parties	1,984,757	0	677,267
Net cash used in investing activities	(1,643,466)	(2,784,052)	(81,745)
Cash flows from financing activities
Borrowings from related parties	765,040	178,860	1,587,015
Repayments to related parties	0	0	(1,511,509)
Proceeds from bank loan	714,990	0	282,450
Repayments to bank loan	(42,987)	(795,394)	(1,218,164)
Repayments to third party loans	0	0	(194,226)
Repayments of finance lease liabilities	(129,181)	(119,223)	0
Dividends payments		(517,140)	(1,275,902)
Capital contribution from noncontrolling interest shareholder		50,000	0
Proceeds from issuance of shares upon IPO		5,000,000	0
Proceeds from issuance of shares pursuant to exercise of over-allotment	413,940	413,940	0
Payments of initial public offering costs		(1,418,521)	(474,972)
Net cash provided by (used in) financing activities	1,307,862	2,792,522	(2,805,308)
Effect of exchange rate change on cash and restricted cash	553,653	(526,628)	108,141
Net change in cash and restricted cash	(2,828,629)	(1,330,047)	(2,327,891)
Cash and restricted cash - beginning of the year	9,472,358	10,802,405	13,130,296
Cash and restricted cash - end of the year	6,643,729	9,472,358	10,802,405
Cash	6,624,600	8,968,814	10,802,405
Restricted cash	19,129	503,544	0
Supplemental disclosure of cash flow information
Interest paid	66,306	66,864	91,276
Income tax paid	178,863	746,044	664,259
Supplemental non-cash information
Finance lease right-of-use assets obtained in exchange for finance lease liabilities	0	235,556	0
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	43,311	993,783	377,039
Termination of operating lease right-of-use asset with lease liability	0	(27,667)	0
Other receivables - related party offset with other payables - related party upon execution of offset agreement	0	0	381,710
Deferred IPO costs transfer to additional paid-in capital upon IPO	$ 0	$ (1,192,734)	$ 0

Consolidated Balance Sheets - USD ($)	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS
Cash	$ 6,624,600	$ 8,968,814
Restricted cash	19,129	503,544
Accounts and notes receivable, net	3,482,173	2,393,902
Accounts receivable - related parties	82,483	327,556
Inventories, net	3,350,016	2,206,329
Prepayments, net	594,705	726,991
Prepayments - related parties, net	3,004,775	3,815,321
Other receivables and other current assets, net	345,402	507,523
Other receivables - related parties	1,196,351	320,447
Total current assets	18,699,634	19,770,427
NON-CURRENT ASSETS
Prepaid expenses and deposits	29,173	79,088
Prepayment for land use right	0	1,987,685
Long-term investment	2,273,486	205,499
Operating right-of-use assets and land use rights	1,134,532	1,411,033
Finance right-of-use assets	0	221,847
Intangible assets, net	241,831	59,148
Property and equipment, net	7,133,587	6,173,176
Total non-current assets	10,812,609	10,137,476
Total assets	29,512,243	29,907,903
CURRENT LIABILITIES
Accounts payable	1,857,160	1,359,244
Accounts payable - related parties	230,694	79,988
Contract liabilities	3,153,875	6,115,315
Accrued expenses and other payables	1,911,266	1,450,005
Other payables - related parties	791,887	338,453
Current portion of banking facilities	93,404	80,588
Short-term loans - banks	714,990	0
Current portion of operating lease liabilities	218,229	184,201
Current portion of operating lease liabilities - related party	118,107	168,551
Current portion of finance lease liabilities	0	123,762
Taxes payable	557,204	703,264
Total current liabilities	9,646,816	10,603,371
NON-CURRENT LIABILITIES
Banking facilities	1,182,914	1,161,174
Operating lease liabilities	551,895	692,329
Operating lease liabilities - related party	38,897	190,752
Deferred revenue	57,199	0
Total non-current liabilities	1,830,905	2,044,255
Total liabilities	11,477,721	12,647,626
SHAREHOLDERS' EQUITY
Additional paid-in capital	3,103,802	3,135,124
Retained earnings	15,037,127	15,050,543
Statutory reserves	248,761	248,761
Accumulated other comprehensive loss	(22,020)	(1,012,187)
Total Tungray Technologies Inc shareholders' equity	18,369,305	17,423,876
NONCONTROLLING INTERESTS	(334,783)	(163,599)
TOTAL EQUITY	18,034,522	17,260,277
Total liabilities and equity	29,512,243	29,907,903
Common Class A
SHAREHOLDERS' EQUITY
Ordinary Shares, Value	1,179	1,179
TOTAL EQUITY	1,179	1,179
Common Class B
SHAREHOLDERS' EQUITY
Ordinary Shares, Value	456	456
TOTAL EQUITY	$ 456	$ 456