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Lease (Tables)
6 Months Ended
Jun. 30, 2022
Lease [Abstract]  
Schedule of prepaid land use rights
   Prepaid 
   land 
   lease payments 
Balance as of January 1, 2021  $7,500,780 
Addition for the year   6,188,764 
Amortization charge for the year   (189,044)
Foreign exchange adjustment   296,730 
Balance as of December 31, 2021   13,797,230 
Amortization charge for the period   (175,907)
Foreign exchange adjustment   (703,204)
Balance as of June 30, 2022  $12,918,119 

 

Schedule of net investment in sales-type leases
    December 31,       June 30,  
    2021     2022  
Total future minimum lease payments receivable   $ 1,737,817       1,427,591  
Less: unearned income, representing interest     (108,773 )       (75,638 )
Present value of minimum lease payments receivables     1,629,044         1,351,953  
Less: Current portion     (790,516 )       (859,348 )
Non-current portion   $ 838,528      $   492,605  

 

Schedule of future minimum lease payments receivable for sales type leases
Fiscal years ending   Total
Minimum
Lease
Payments to
be Received
  

Amortization
of Unearned

Income

  

Net Investment

in Sales

Type Leases

 
Remainder of 2022   $597,665   $42,669   $554,996 
2023    648,416    30,529    617,887 
2024    181,510    2,440    179,070 
2025    
-
    
-
    
-
 
2026    
-
    
-
    
-
 
Thereafter    
-
    
-
    
-
 
    $1,427,591   $75,638   $1,351,953 

 

Schedule of operating lease expenses
   Three months ended
June 30,
   Six months ended
June 30,
 
   2021   2022   2021   2022 
Operating lease cost – straight line  $120,105   $145,966   $131,387   $358,657 
Total lease expense  $120,105   $145,966   $131,387   $358,657 

 

Schedule of maturities of lease liabilities
    Operating leases 
      
Remainder of 2022   $22,852 
2023    231,987 
2024    39,030 
2025    39,621 
2026    35,467 
Thereafter    
-
 
Total undiscounted cash flows    368,957 
Less: imputed interest    (25,389)
Present value of lease liabilities   $343,568 

 

Schedule of lease term and discount rate
   December 31,
2021
   June 30,
2022
 
Weighted-average remaining lease term        
Land use rights   38.9    38.4 
Operating leases   2.32    2.91 
           
Weighted-average discount rate          
Land use rights   Nil    Nil 
Operating leases   5.88%   5.43%

 

Supplemental cash flow information related to leases
   Three months ended
June 30,
   Six months ended
June 30,
 
   2021   2022   2021   2022 
Operating cash outflows from operating assets  $181,462   $182,944   $316,841   $215,395