XML 62 R46.htm IDEA: XBRL DOCUMENT v3.23.1
Lease (Tables)
12 Months Ended
Dec. 31, 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 year   (338,706)
Foreign exchange adjustment   (1,097,361)
Balance as of December 31, 2022  $12,361,163 

 

Schedule of net investment in sales-type leases
   December 31,   December 31, 
   2021   2022 
Total future minimum lease payments receivable  $1,737,817    
      -
 
Less: unearned income, representing interest   (108,773)   
-
 
Present value of minimum lease payments receivables   1,629,044    
-
 
Less: Current portion   (790,516)   
-
 
Non-current portion  $838,528    
-
 

 

Schedule of operating lease expenses
   December 31,
2021
   December 31,
2022
 
Operating lease cost – straight line  $539,075   $495,478 

 

Schedule of finance lease
   December 31,   December 31, 
   2021   2022 
Property, plant and equipment, at cost  $
        -
   $1,890,396 
Accumulated depreciation   
-
    (251,626)
Impairment   
-
    (662,006)
Property, plant and equipment, net under finance lease   
-
    976,764 
           
Finance lease liabilities, current   
-
    844,297 
Finance lease liabilities, non-current   
-
    
-
 
Total finance lease liabilities  $
-
   $844,297 

  

Schedule of finance lease expenses
       2021   2022 
Finance lease cost:               
Depreciation of assets  $          $
     -
   $76,861 
Interest of lease liabilities        
-
    8,672 
Total lease expense  $    $
-
   $85,533 

 

Schedule of maturities of lease liabilities
   Operating
leases
   Finance
leases
 
         
2023  $634,361   $856,117 
2024   251,947    
-
 
2025   227,519    
-
 
2026   144,770    
-
 
2027   11,566    
-
 
Thereafter   
-
    
-
 
Total undiscounted cash flows   1,270,163    856,117 
Less: imputed interest   (87,445)   (11,820)
Present value of lease liabilities  $1,182,718   $844,297 

 

Schedule of lease term and discount rate
   December 31,
2021
   December 31,
2022
 
Weighted-average remaining lease term        
Land use rights   38.9    37.9 
Operating leases   2.32    3.39 
Finance lease   
-
    0.5 
           
Weighted-average discount rate          
Land use rights   Nil    Nil 
Operating lease   5.88%   4.94%
Finance lease   
-
    1.40%

 

Schedule of supplemental cash flow
   December 31,
2021
   December 31,
2022
 
Operating cash outflows from operating assets  $447,734   $230,382