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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net (loss) income $ 29,608,168 $ (2,354,111)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 704,496 587,615
Provision for (recovery of) doubtful debts (154,061) 673,186
Amortization of operating lease right-of-use assets 10,052
Write-down of inventories 233,305 409,062
Share-based compensation 148,818 300,135
Changes in fair value of warrants liability (28,426,000)
Gain on disposal of property, plant and equipment (53,022)
Changes in operating assets and liabilities:    
Trade accounts and bills receivable 6,314,111 (3,633,248)
Inventories (1,512,723) 701,957
Prepayments and other receivables (451,150) 51,905
Trade accounts and bills payable (2,941,048) (237,779)
Accrued expenses and other payables (882,416) (86,889)
Operating lease liabilities (134,149)
Investment in sales-type lease (1,639,959)
Trade receivable from and payables to former subsidiaries (60,563) 4,273,976
Net cash provided by operating activities 763,859 685,809
Cash flows from investing activities    
Purchases of property, plant and equipment and construction in progress (5,681,131) (261,031)
Net cash used in investing activities (5,681,131) (261,031)
Cash flows from financing activities    
Borrowings from shareholders 269,349
Borrowings from an unrelated party 3,467,148
Repayment of borrowing from an unrelated party (5,673,515)
Repayment of borrowing from shareholders (145,321)
Proceeds from issuance of shares 65,495,011
Net cash (used in) provided by financing activities 65,349,690 (1,937,018)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash 336,284 (112,027)
Net increase (decrease) in cash and cash equivalents, and restricted cash 60,768,702 (1,624,267)
Cash and cash equivalents, and restricted cash at the beginning of period 20,671,498 7,133,948
Cash and cash equivalents, and restricted cash at the end of period 81,440,200 5,509,681
Supplemental non-cash investing and financing activities:    
Transfer of construction in progress to property, plant and equipment 176,628
Non-cash payment for purchase of property, plant and equipment and construction in progress by new vehicles 61,233
Issuance of common stock (note 1):    
- offset repayment of promissory notes 200,000
Cash paid during the period for:    
Interest, net of amounts capitalized $ 2,314 $ 269,019