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Lease (Tables)
 6 Months Ended
Jun. 30, 2024
Lease [Abstract]  
Schedule of Prepaid Land Use Rights (a) Prepaid land use rights
   Prepaid land 
   lease payments 
Balance as of January 1, 2023  $12,361,163 
Amortization charge for the year   (322,160)
Foreign exchange adjustment   (326,299)
Balance as of December 31, 2023   11,712,704 
Amortization charge for the period   (158,054)
Foreign exchange adjustment   (273,160)
Balance as of June 30, 2024  $11,281,490 
Schedule of Lease Expenses
   Three months ended
June 30,		   Six months ended
June 30,		 
   2023   2024   2023   2024 
Operating lease cost – straight line  $128,430   $308,479   $265,747   $619,739 

 

Company as lessee - Finance lease
   December 31,   June 30, 
   2023   2024 
Property, plant and equipment, at cost  $4,598,426   $8,151,642 
Accumulated depreciation   (828,351)   (2,257,568)
Impairment   (3,770,075)   (5,894,074)
Property, plant and equipment, net under finance lease   
-
    
-
 
           
Finance lease liabilities, current   1,643,864    1,424,535 
Finance lease liabilities, non-current   
-
    
-
 
Total finance lease liabilities  $1,643,864   $1,424,535 
   Three months ended
June 30,		   Six months ended
June 30,		 
   2023   2024   2023   2024 
Finance lease cost:                
Depreciation of assets   44,275    
-
    89,610    
-
 
Interest of lease liabilities   4,995    20,024    10,110    40,237 
Total lease expense  $49,270   $20,024   $99,720   $40,237 
Lease term and discount rate:
   December 31,
2023		   June 30,
2024		 
Weighted-average remaining lease term        
Land use rights   36.9    36.4 
Operating lease   2.71    4.62 
Finance lease   0.96    0.48 
           
Weighted-average discount rate          
Land use rights   Nil    Nil 
Operating lease   4.69%   4.33%
Finance lease   1.37%   2.9%

 

Supplemental cash flow information related to leases where the Company was the lessee for the three and six months ended June 30, 2023 and 2024 was as follows:
   Three months ended
June 30,		   Six months ended
June 30,		 
   2023   2024   2023   2024 
Operating cash outflows from operating assets  $213,469   $361,860   $391,475   $431,817 
Schedule of Maturities of Lease Liabilities The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2024:
   Operating
leases		   Finance
leases		 
         
Remainder of 2024  $584,179   $1,463,109 
2025   715,916    
-
 
2026   597,720    
-
 
2027   469,194    
-
 
2028   457,198    
-
 
Thereafter   890,866    
-
 
Total undiscounted cash flows   3,715,073    1,463,109 
Less: imputed interest   (394,447)   (38,574)
Present value of lease liabilities  $3,320,626   $1,424,535