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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 14,910,120 $ 620,439
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 6,147,032 6,168,060
Allowance for expected credit losses (334,164) 273,136
Amortization of operating lease 913,789 397,481
Write-down of inventories 3,364,889 2,074,233
Share-based compensation 266,815 959,833
Changes in fair value of warrants liability (136,000)
Gain on disposal of property, plant and equipment (184,555)
Gain on disposal on equity investee (26,967)
Changes in operating assets and liabilities:    
Trade and bills receivable (5,486,254) (20,463,675)
Inventories 5,871,262 7,766,141
Prepayments and other receivable (1,861,326) (1,823,889)
Trade and bills payable 6,260,817 24,935,040
Accrued expenses and other payables and product warranty provisions 1,091,820 (3,760,511)
Operating lease liabilities (1,387,042) (430,127)
Trade receivable from and payables to former subsidiaries 66,554 5,102,972
Income tax payable 465,430 134,258
Deferred tax assets (1,072,434)
Net cash provided by operating activities 30,078,220 20,744,957
Cash flows from investing activities    
Deposit paid for acquisition of long-term investment (9,092,679) (3,799,522)
Proceeds from disposal of an equity method investees 278,064
Proceeds from disposal of property, plant and equipment 184,555
Purchases of property, plant and equipment and construction in progress (11,481,670) (24,937,832)
Net cash used in investing activities (20,111,730) (28,737,354)
Cash flows from financing activities    
Borrowings from banks 40,864,500 36,355,590
Repayment of bank borrowings (47,935,100) (16,649,590)
Placement of term deposits (30,999,022)
Withdrawal of term deposits 17,545,368
Borrowings from a shareholder 199,942
Repayment of borrowings to a shareholder (259,960)
Repayment of borrowings from a unrelated party (279,231)
Proceeds from finance lease 1,112,254
Principal payments of finance leases (2,050,580) (841,729)
Net cash provided by (used in) financing activities (21,462,580) 18,525,022
Effect of exchange rate changes on cash and cash equivalents and restricted cash 537,582 (2,200,580)
Net increase (decrease) in cash and cash equivalents and restricted cash (10,958,508) 8,332,045
Cash and cash equivalents and restricted cash at the beginning of period 58,822,816 37,356,076
Cash and cash equivalents and restricted cash at the end of period 47,864,308 45,688,121
Supplemental non-cash investing and financing activities:    
Transfer of construction in progress to property, plant and equipment 3,130,934 15,174,632
Lease liabilities arising from obtaining right-of-use assets 3,504,162 93,074
Cash paid during the year for:    
Income taxes 1,853,346
Interest, net of amounts capitalized $ 378,388 $ 124,780