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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 848,040 $ 52,351,612
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 5,726,020 2,013,729
(Recovery of ) provision for doubtful debts 68,651 (437,475)
Write-down of inventories 1,177,891 663,041
Share-based compensation 57,152 333,365
Loss on disposal of property, plant and equipment 2,705,233 9,613
Change in fair value of warrant liability (4,699,000) (57,174,000)
Impairment charge - Investment 690,585
Amortization of operating lease right-of-use assets 437,502 290,051
Trade and bills receivable 24,379,828 8,062,046
Inventories (29,001,132) (4,578,372)
Prepayments and other receivables 6,752,833 (2,191,300)
Trade and bills payable 13,099,248 (7,632,763)
Accrued expenses and other payables (303,703) 323,174
Investment in sales-type lease 347,903 (717,138)
Lease liabilities (310,756) (715,150)
Trade receivable from and payables to former subsidiaries (4,659,713) (75,718)
Government grants 1,545,189
Income tax payable (15,215)
Deferred tax assets 84,230
Net cash (used in) provided by operating activities 16,695,012 (7,239,511)
Deposit paid for acquisition of a subsidiary (8,316,787)
Purchase of non-marketable equity securities (1,390,670)
Hitrans Loan (20,248,061)
Proceeds on disposal of property, plant and equipment 140,831
Purchases of property, plant and equipment and construction in progress (9,761,089) (17,548,901)
Investment in equity method investment (303,122)
Net cash used in investing activities (9,923,380) (47,504,419)
Proceeds from bank borrowings 11,981,490
Repayment of bank borrowings (1,515,611) (13,860,346)
Borrowings from unrelated parties 1,515,611
Repayment of borrowings from unrelated parties (399,715)
Repayment of borrowings from related parties (185,985)
Borrowings from a related party 1,515,611
Proceeds from issuance of shares 65,495,011
Repayment of borrowings from Mr. Ye Junnan (3,789,027)
Capital injection from non-controlling interests 1,433,187
Proceeds from finance lease 1,515,611  
Principal payments on finance leases (256,138)
Net cash provided by financing activities 12,400,734 51,048,965
Effect of exchange rate changes on cash and cash equivalents and restricted cash (3,890,380) 569,994
Net (decrease) increase in cash and cash equivalents and restricted cash 15,281,986 (3,124,971)
Cash and cash equivalents and restricted cash at the beginning of period 26,354,624 20,671,498
Cash and cash equivalents and restricted cash at the end of period 41,636,610 17,546,527
Supplemental non-cash investing and financing activities:    
Transfer of construction in progress to property, plant and equipment 22,287,410 3,556,965
Non-cash payment for purchase of property, plant and equipment and construction in progress by new vehicles 61,344
Lease liabilities arising from obtaining right-of-use assets 213,677 1,946,939
Cash paid during the period for:    
Income taxes 60,666
Interest, net of amounts capitalized $ 476,298 $ 7,031