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Income Tax (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax [Abstract]

Schedule of Components of Loss from Continuing Operations Before Income Taxes

The components of loss from continuing operations before income taxes are as follows:

		Year ended December 31,
		2024				2023				2022
Loss from continuing operations before income taxes:
Chinese Mainland			(342,851,600	)			(594,685,363	)			(506,323,501	)
Hong Kong S.A.R and overseas entities			(115,462,389	)			(244,947,368	)			(238,424,750	)
Loss continuing operations before income taxes:			(458,313,989	)			(839,632,731	)			(744,748,251	)

Schedule of Components of Income Tax Expense

The components of income tax expense for the years ended December 31, 2024, 2023 and 2022 are as follows:

		Year ended December 31,
		2024				2023				2022
Current income tax expense
- Chinese Mainland			2,096,534				97,241				-
- Others			18,481				-				-
Total current tax provision			2,115,015				97,241				-
Total income tax expense			2,115,015				97,241				-

Schedule of Income Tax Rate

Reconciliation of the differences between PRC statutory income tax rate and the Company’s effective income tax rate for the years ended December 31, 2024, 2023 and 2022 are as follows:

		Year ended December 31,
		2024				2023				2022
PRC statutory tax rate			(25.0	)%			(25.0	)%			(25.0	)%
Effect of tax rate differential for non-PRC entities			6.5	%			7.1	%			7.9	%
Effect of non-deductible expenses			1.2	%			0.6	%			0.1	%
Effect of tax-exempt income			(0.1	)%			-				-
Change in valuation allowance			17.9	%			17.3	%			17.0	%
Actual income tax rate			0.5	%			0.0	%			-

Schedule of Deferred Income Tax Assets

Deferred income tax assets

		As of Decermber 31,
		2024				2023
Operating losses carryforwards			409,124,311				356,759,527
Contract liabilities			6,644,531				7,816,022
Impairment losses			26,434,674				28,851,871
Advertising expenses			-				4,370,405
Operating lease liabilities			139,547,582				210,873,365
Other current liabilities			31,384,591				31,132,869
Property and equipment			7,164,319				2,776,777
Total gross deferred tax assets			620,300,008				642,580,836
Less: valuation allowances			(482,127,651	)			(418,748,714	)
Deferred tax assets, net of valuation allowance			138,172,357				223,832,122
Operating right-of-use assets			(123,327,098	)			(196,359,374	)
Property and equipment			(14,845,259	)			(27,472,748	)
Deferred tax liability			(138,172,357	)			(223,832,122	)
Deferred tax assets			138,172,357				223,832,122
Deferred tax liabilities			(138,172,357	)			(223,832,122	)
Net deferred tax assets			-				-

Schedule of Changes in Valuation Allowance

Changes in valuation allowance are as follows:

		Year ended December 31, 2024
		2024				2023
Balance at the beginning of the year			418,748,714				275,431,351
Increases in the year			82,215,410				144,963,545
Decrease due to expiration of loss carry forwards			(18,836,473	)			(1,646,182	)
Balance at the end of the year			482,127,651				418,748,714

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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