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Lease (Tables) | 9 Months Ended
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Sep. 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 |  |  | (237,565 | )
Foreign exchange adjustment |  |  | 125,939 |
Balance as of September 30, 2024 |  | $ | 11,601,078 |
Schedule of Lease Expenses | Operating lease expenses for the three and nine months ended September 30, 2023 and 2024 for the capitation agreement was as follows:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |
Operating lease cost – straight line |  | $ | 110,057 |  |  | $ | 337,405 |  |  | $ | 375,804 |  |  | $ | 957,144 |
Company as lessee - Finance lease
|  | December 31, |  |  | September 30, |
|  | 2023 |  |  | 2024 |
Property, plant and equipment, at cost |  | $ | 4,598,426 |  |  | $ | 8,441,208 |
Accumulated depreciation |  |  | (828,351 | ) |  |  | (2,337,763 | )
Impairment |  |  | (3,770,075 | ) |  |  | (6,103,445 | )
Property, plant and equipment, net under finance lease |  |  | - |  |  |  | - |
Finance lease liabilities, current |  |  | 1,643,864 |  |  |  | 762,694 |
Finance lease liabilities, non-current |  |  | - |  |  |  | - |
Total finance lease liabilities |  | $ | 1,643,864 |  |  | $ | 762,694 |
The components of finance lease expenses for the three and nine months ended September 30, 2023 and 2024 were as follows:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation of assets |  |  | 44,275 |  |  |  | - |  |  |  | 102,999 |  |  |  | - |
Interest of lease liabilities |  |  | 4,995 |  |  |  | 20,242 |  |  |  | 11,622 |  |  |  | 60,479 |
Total lease expense |  | $ | 49,270 |  |  | $ | 20,242 |  |  | $ | 114,621 |  |  | $ | 60,479 |
Lease term and discount rate:
|  | December 31, 2023 |  |  | September 30, 2024 |
Weighted-average remaining lease term |  |  |  |  |  |  |  |
Land use rights |  |  | 36.9 |  |  |  | 36.2 |
Operating lease |  |  | 2.71 |  |  |  | 4.18 |
Finance lease |  |  | 0.96 |  |  |  | 0.16 |
Weighted-average discount rate |  |  |  |  |  |  |  |
Land use rights |  |  | Nil |  |  |  | Nil |
Operating lease |  |  | 4.69 | % |  |  | 4.35 | %
Finance lease |  |  | 1.37 | % |  |  | 2.9 | %
Supplemental cash flow information related to leases where the Company was the lessee for the three and nine months ended September 30, 2023 and 2024 was as follows:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |
Operating cash outflows from operating assets |  | $ | 92,457 |  |  | $ | 120,979 |  |  | $ | 483,932 |  |  | $ | 552,796 |
Schedule of Maturities of Lease Liabilities | The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2024:
|  | Operating leases |  |  | Finance leases |
Remainder of 2024 |  | $ | 769,615 |  |  | $ | 781,978 |
2025 |  |  | 1,031,673 |  |  |  | - |
2026 |  |  | 928,195 |  |  |  | - |
2027 |  |  | 516,579 |  |  |  | - |
2028 |  |  | 486,314 |  |  |  | - |
Thereafter |  |  | 932,643 |  |  |  | - |
Total undiscounted cash flows |  |  | 4,665,019 |  |  |  | 781,978 |
Less: imputed interest |  |  | (453,418 | ) |  |  | (19,284 | )
Present value of lease liabilities |  | $ | 4,211,601 |  |  | $ | 762,694 |

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability and financing lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References No definition available. + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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