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Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Sep. 30, 2019
CURRENT ASSETS:    
Cash $ 11,867,130 $ 4,594,440
Accounts receivable, net 1,118,476 603,760
Bank acceptance notes receivable 11,498,075 5,476,707
Inventories, net 11,994,471 12,522,884
Advances to suppliers, net 491,827 958,005
Other current assets 547,443 813,932
Total current assets 37,517,422 24,969,728
Property and equipment, net 7,419,028 7,665,322
Intangible assets, net 1,881,722 1,834,130
Long term investment 540,517 539,680
Operating lease right of use assets 243,874  
Deferred tax assets 361,250 259,384
Security deposit 179,325  
Total assets 48,143,138 35,268,244
CURRENT LIABILITIES:    
Bank loans 7,349,375 4,903,128
Accounts payable 4,377,712 3,570,148
Advance from customers 3,511,198 1,911,748
Advance from customers - related parties 33,152 2,171
Deferred government grants-current 384,802 391,142
Taxes payable 1,383,182 347,930
Operating lease liabilities, current 82,468  
Accrued expenses and other payables 1,301,882 531,713
Total current liabilities 18,423,771 11,657,980
LONG TERM LIABILITIES    
Operating lease liabilities, noncurrent 155,723  
Deferred government grants - noncurrent 722,137 972,338
Total liabilities 19,301,631 12,630,318
Commitments and contingencies
EQUITY:    
Ordinary Shares, $0.00166667 par value, 100,000,000 shares authorized , 30,000,000 Ordinary Shares issued and outstanding as of March 31, 2020 and September 30, 2019 , respectively 50,000 50,000
Additional paid-in capital 12,252,077 12,252,077
Statutory Reserve 2,200,786 1,773,817
Retained earnings 12,197,372 7,560,631
Accumulated other comprehensive loss (602,001) (1,743,175)
Total shareholders' equity attributable to Qilian International 26,098,234 19,893,350
Noncontrolling interests 2,743,273 2,744,576
TOTAL EQUITY 28,841,507 22,637,926
TOTAL LIABILITIES AND EQUITY $ 48,143,138 $ 35,268,244