XML 51 R38.htm IDEA: XBRL DOCUMENT v3.22.2.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basis of Presentation and Principles of Consolidation (Details) - USD ($)
12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2019
Current assets:      
Cash and cash equivalents $ 10,467,357 $ 11,867,130  
Restricted cash 2,140,016    
Accounts receivable, net 1,733,306 1,118,476  
Bank acceptance receivable 11,722,096 11,498,075  
Inventories, net 12,495,831 11,994,471  
Advances to suppliers, net 1,380,925 491,827  
Other current assets 425,622 547,443  
TOTAL CURRENT ASSETS 40,365,153 37,517,422  
Property and equipment, net 9,119,502 7,419,028  
Intangible assets, net 1,927,933 1,881,722  
Long term investment 639,466 540,517  
Right of use assets-lease 118,154 243,874  
Deferred tax assets 427,120 361,250  
TOTAL ASSETS 75,353,263 48,143,138  
Current liabilities:      
Bank loans   7,349,375  
Accounts payable 6,643,691 4,377,712  
Advance from customers 2,467,296 3,511,198  
Advance from customers - related parties 17,318 33,152  
Bank notes payable 7,867,018    
Deferred government grants - current 351,567 384,802  
Taxes payable 305,305 1,383,182  
Operating lease liabilities, current 55,847 82,468  
Accrued expenses and other payables 466,838 1,301,882  
TOTAL CURRENT LIABILITIES 18,174,880 18,423,771  
Operating lease liabilities, long term 106,180 155,723  
Deferred government grants - noncurrent 403,745 722,137  
TOTAL LIABILITIES 18,684,805 19,301,631  
Total revenues 57,099,884 50,033,200 $ 46,096,684
Income from operations 3,363,277 5,805,349 6,941,919
Net income 3,108,144 4,940,441 5,908,479
Net cash provided by (used in) operating activities 345,034 5,076,014 (580,197)
Net cash used in investing activities (24,200,032) (375,592) (800,181)
Net cash provided by financing activities 23,993,338 2,140,503 507,202
Effect of exchange rate on cash 601,903 431,765 (157,163)
Net increase (decrease) in cash and cash equivalents 740,243 7,272,690 (1,030,339)
VIE and its subsidiaries      
Current assets:      
Cash and cash equivalents 4,161,582 5,493,215  
Restricted cash 2,140,016    
Accounts receivable, net 1,733,306 660,398  
Bank acceptance receivable 11,722,096 11,460,512  
Inventories, net 12,495,831 11,994,471  
Advances to suppliers, net 1,380,757 465,755  
Other current assets 423,331 535,981  
TOTAL CURRENT ASSETS 34,056,919 30,610,332  
Property and equipment, net 9,041,995 7,395,965  
Intangible assets, net 1,927,933 1,881,722  
Long term investment 639,466 540,517  
Long term security deposits 188,913 179,325  
Right of use assets-lease 118,154 134,511  
Deferred tax assets 427,172 361,250  
TOTAL ASSETS 46,400,552 41,103,622  
Current liabilities:      
Bank loans   7,349,375  
Accounts payable 6,642,625 3,958,804  
Advance from customers 2,467,296 3,511,198  
Advance from customers - related parties 17,318 33,152  
Bank notes payable 7,867,018    
Deferred government grants - current 351,567 384,802  
Taxes payable 371,325 1,322,354  
Operating lease liabilities, current 55,847 22,354  
Accrued expenses and other payables 466,188 1,301,881  
TOTAL CURRENT LIABILITIES 18,239,184 17,883,920  
Operating lease liabilities, long term 106,180 124,406  
Deferred government grants - noncurrent 403,745 722,137  
TOTAL LIABILITIES 18,749,109 18,730,463  
Total revenues 57,049,381 46,731,913 46,096,684
Income from operations 2,370,647 4,840,614 6,178,538
Net income 2,857,492 4,936,357 5,908,479
Net cash provided by (used in) operating activities 2,122,539 4,131,468 (580,193)
Net cash used in investing activities (1,781,618) (5,648,762) (800,254)
Net cash provided by financing activities 123,697 2,140,503 507,202
Effect of exchange rate on cash 343,759 275,566 (157,094)
Net increase (decrease) in cash and cash equivalents $ 808,377 $ 898,775 $ (1,030,339)