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Income Taxes, Deferred Tax Assets and Deferred Tax Liabilities (Tables)
12 Months Ended
Dec. 31, 2023
Income Taxes, Deferred Tax Assets and Deferred Tax Liabilities [Abstract]  
Schedule of Provision for Income Taxes credit The Company’s provision for income taxes credit consisted of:
   December 31,   December 31, 
   2022   2023 
PRC income tax  $         $        
Current income tax credit, net   
-
    
-
 
Deferred income tax credit (expenses)   1,228,207    (2,486,145)
   $1,228,207   $(2,486,145)
Schedule of Provision for Income Taxes Determined at the Statutory Income Tax Rate A reconciliation of the provision for income taxes determined at the statutory income tax rate to the Company’s income taxes is as follows:
   Year ended
December 31,
2022
   Year ended
December 31,
2023
 
Income (loss) before income taxes  $(12,556,018)  $(6,053,182)
United States federal corporate income tax rate   21%   21%
Income tax credit computed at United States statutory corporate income tax rate   (2,636,764)   (1,271,168)
Reconciling items:          
Over provision of deferred taxation in prior year          
Rate differential for PRC earnings   (685,944)   (160,672)
Tax effect of entity at preferential tax rate   683,459    1,918,084 
Non-deductible (income) expenses   (978,010)   171,936 
Share based payments   13,481    257,407 
Tax effect of utilisation of tax losses previously not recognised   (885,021)   (222,354)
Valuation allowance on deferred tax assets   3,260,592    1,792,912 
Income tax (credit) expenses  $(1,228,207)  $2,486,145 
Schedule of Deferred Tax Assets and Liabilities The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2022 and 2023 are presented below:
   December 31,
2022
   December 31,
2023
 
Deferred tax assets        
Trade accounts receivable  $1,976,354    1,156,095 
Inventories   554,041    2,942,702 
Property, plant and equipment   2,353,141    2,398,035 
Non-marketable equity securities   161,716    157,432 
Equity method investment   157,432    380,982 
Intangible assets   97,468    31,601 
Accrued expenses, payroll and others   224,795    541,665 
Provision for product warranty   119,207    136,611 
Net operating loss carried forward   34,379,188    36,103,945 
Valuation allowance   (37,122,551)   (43,645,828)
Deferred tax assets, non-current  $2,743,359    203,240 
           
Deferred tax liabilities, non-current          
Long-lived assets arising from acquisitions  $256,380   $203,240