XML 9 R2.htm IDEA: XBRL DOCUMENT v3.25.3
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay versus Performance

We believe that performance-based compensation leads to results that are consistent with stockholder and customer interests.

For each covered fiscal year, these are the names of the CEO and each non-CEO Named Executive Officers whose compensation is included in the Pay versus Performance table below:

Year   CEO   Non-CEO NEOs
2024   Zhiguang Hu, Yunfei Li   Jiewei Li, Xiangyu Pei
2023   Yunfei Li   Jiewei Li, Xiangyu Pei
2022   Yunfei Li   Xiangyu Pei

The table below provides pay and performance data for the three most recently completed fiscal years. The use of the term “compensation actually paid” (“CAP”) is required and defined by the SEC’s rules and does not reflect the actual amount of compensation earned or paid during the applicable year.

Year  Summary
Compensation
Table Total
for CEO		   Compensation
Actually Paid
to CEO(1)		   Average
Summary
Compensation
Table Total
for Other
NEOs		   Average
Compensation
Actually Paid
to Other
NEOs(2)		   Value of
$100
Investment
Based on:
Company
Total
Shareholder
Return		   Net Income
(Loss)		 
                         
2024  $288,420   $229,744   $118,404   $97,182   $18.58   $9,585,150 
                               
2023   321,164    548,962    79,308    93,757    20.75   $(8,539,327)
                               
2022   177,658    235,853.85    115,556    155,306.32   $19.57   $(11,327,811)
(1) Amounts deducted or added to calculate the compensation actually paid to Yunfei Li and Zhiguang Hu for each of the following fiscal years

For CEO

Year   Summary
compensation
table total		     Less:
Summary
compensation
table total
equity (stock
awards +
option
awards)		     Plus: FV
as of
fiscal
year end
of stock
and option
awards
granted
in covered
year		     Plus:
Change in
FV  of
outstanding
unvested
stock and
option
awards
from prior
years		     Plus:
Change in
FV of
stock and
option
awards
from prior
years that
vested in
the
covered
year		     Plus: For
awards
granted
in the
covered
year that
vested
during
the
covered
year		     Less: FV
at prior
fiscal
year-end
of stock
and option
awards
forfeited
during
the
covered
year		     Compensation
actually paid		  
    $     $     $     $     $     $     $     $  
2024     288,420       (4,817 )     -       (7,776 )     (1,926 )     -       (44,157 )     229,744  
2023     321,164       -119,832       -199,536       -559       -       170,250       -21,957       548,962  
2022     177,658       -5,678       -       45,207       18,667       --       -       235,854  
(2) Amounts deducted or added to calculate the compensation actually paid to other NEOs, on average, for each of the following fiscal years

Average
Non-CEO
NEOs

Year   Summary
compensation
table total		     Less:
Summary
compensation
table total
equity (stock
awards +
option
awards)		     Plus: FV
as of fiscal
year end of
stock and
option
awards
granted in
covered
year		     Plus:
Change in
FV  of
outstanding
unvested
stock and
option
awards
from prior
years		     Plus:
Change in
FV of
stock and
option
awards
from prior
years that
vested in
the
covered
year		     Plus:
For awards
granted
in the
covered
year that
vested
during
the
covered
year		     Less: FV
at prior
fiscal
year- end
of stock
and option
awards
forfeited
during
the
covered
year		     Compensation
actually paid		  
    $     $     $     $     $     $     $     $  
2024     118,404       (9,634 )     -       1,647       (3,852 )     -       (9,383)       97,182  
2023     79,308       -7,989       13,302       -56       -       11,350       -2158       93,757  
2022     115,556.00       -2,555.00       0       33,905.32       8,400.00       -       -       155,306.32  
    
PEO Total Compensation Amount $ 288,420 $ 321,164 $ 177,658
PEO Actually Paid Compensation Amount [1] $ 229,744 548,962 235,853.85
Adjustment To PEO Compensation, Footnote Amounts deducted or added to calculate the compensation actually paid to Yunfei Li and Zhiguang Hu for each of the following fiscal years

For CEO

Year   Summary
compensation
table total		     Less:
Summary
compensation
table total
equity (stock
awards +
option
awards)		     Plus: FV
as of
fiscal
year end
of stock
and option
awards
granted
in covered
year		     Plus:
Change in
FV  of
outstanding
unvested
stock and
option
awards
from prior
years		     Plus:
Change in
FV of
stock and
option
awards
from prior
years that
vested in
the
covered
year		     Plus: For
awards
granted
in the
covered
year that
vested
during
the
covered
year		     Less: FV
at prior
fiscal
year-end
of stock
and option
awards
forfeited
during
the
covered
year		     Compensation
actually paid		  
    $     $     $     $     $     $     $     $  
2024     288,420       (4,817 )     -       (7,776 )     (1,926 )     -       (44,157 )     229,744  
2023     321,164       -119,832       -199,536       -559       -       170,250       -21,957       548,962  
2022     177,658       -5,678       -       45,207       18,667       --       -       235,854  
    
Non-PEO NEO Average Total Compensation Amount $ 118,404 79,308 115,556
Non-PEO NEO Average Compensation Actually Paid Amount [2] $ 97,182 93,757 155,306.32
Adjustment to Non-PEO NEO Compensation Footnote Amounts deducted or added to calculate the compensation actually paid to other NEOs, on average, for each of the following fiscal years

Average
Non-CEO
NEOs

Year   Summary
compensation
table total		     Less:
Summary
compensation
table total
equity (stock
awards +
option
awards)		     Plus: FV
as of fiscal
year end of
stock and
option
awards
granted in
covered
year		     Plus:
Change in
FV  of
outstanding
unvested
stock and
option
awards
from prior
years		     Plus:
Change in
FV of
stock and
option
awards
from prior
years that
vested in
the
covered
year		     Plus:
For awards
granted
in the
covered
year that
vested
during
the
covered
year		     Less: FV
at prior
fiscal
year- end
of stock
and option
awards
forfeited
during
the
covered
year		     Compensation
actually paid		  
    $     $     $     $     $     $     $     $  
2024     118,404       (9,634 )     -       1,647       (3,852 )     -       (9,383)       97,182  
2023     79,308       -7,989       13,302       -56       -       11,350       -2158       93,757  
2022     115,556.00       -2,555.00       0       33,905.32       8,400.00       -       -       155,306.32  
    
Compensation Actually Paid vs. Company Selected Measure

Relationship between Financial Performance Measures and Executive Compensation Actually Paid

 

As illustrated in the above table, for the fiscal year ended December 31, 2024, the summary compensation table total for our PEO and average summary compensation table for our non-PEO NEOs were $288,420 and $118,404, respectively. The amounts actually paid to our PEO and average amounts actually paid to our non-PEO NEOs based on CAP were also $229,744 and $97,182, respectfully. During such period, the cumulative TSR of our common stock for an initial fixed $100 investment was $60.26. 

 

For the fiscal year ended December 31, 2023, the summary compensation table total for our PEO and average summary compensation table for our non-PEO NEOs were $321,164 and $79,308, respectively, and the amounts actually paid to our PEO and average amounts actually paid to our non-PEO NEOs based on CAP were $548,962 and $93,757, respectfully. During such period, the cumulative total shareholder return (“TSR”) of our common stock for an initial fixed $100 investment was $67.31.

 

For the fiscal year ended December 31, 2022, the summary compensation table total for our PEO and average summary compensation table for our non-PEO NEOs were $177,658 and $115,556, respectively, and the amounts actually paid to our PEO and average amounts actually paid to our non-PEO NEOs based on CAP were $235,853.85 and $155,306.32, respectfully. During such period, the cumulative total shareholder return (“TSR”) of our common stock for an initial fixed $100 investment was $63.46.

 

The Company’s fiscal 2022 net loss of $11,327,811 decreased to a net loss of $8,539,327 in fiscal 2023. The Company’s net loss increased to $9,585,150 in fiscal 2024.

    
Total Shareholder Return Amount $ 18.58 20.75 19.57
Net Income (Loss) $ 9,585,150 $ (8,539,327) $ (11,327,811)
PEO Name Zhiguang Hu, Yunfei Li Yunfei Li Yunfei Li
PEO | Less: Summary compensation table total equity (stock awards + option awards) [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (4,817) $ (119,832) $ (5,678)
PEO | Plus: FV as of fiscal year end of stock and option awards granted in covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (199,536)
PEO | Plus: Change in FV of outstanding unvested stock and option awards from prior years [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (7,776) (559) 45,207
PEO | Plus: Change in FV of stock and option awards from prior years that vested in the covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,926) 18,667
PEO | Plus: For awards granted in the covered year that vested during the covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 170,250
PEO | Less: FV at prior fiscal year-end of stock and option awards forfeited during the covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (44,157) (21,957)
Non-PEO NEO | Less: Summary compensation table total equity (stock awards + option awards) [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (9,634) (7,989) (2,555)
Non-PEO NEO | Plus: FV as of fiscal year end of stock and option awards granted in covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 13,302 0
Non-PEO NEO | Plus: Change in FV of outstanding unvested stock and option awards from prior years [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,647 (56) 33,905.32
Non-PEO NEO | Plus: Change in FV of stock and option awards from prior years that vested in the covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (3,852) 8,400
Non-PEO NEO | Plus: For awards granted in the covered year that vested during the covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 11,350
Non-PEO NEO | Less: FV at prior fiscal year-end of stock and option awards forfeited during the covered year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (9,383) $ (2,158)
[1] Amounts deducted or added to calculate the compensation actually paid to Yunfei Li and Zhiguang Hu for each of the following fiscal years

For CEO

Year   Summary
compensation
table total		     Less:
Summary
compensation
table total
equity (stock
awards +
option
awards)		     Plus: FV
as of
fiscal
year end
of stock
and option
awards
granted
in covered
year		     Plus:
Change in
FV  of
outstanding
unvested
stock and
option
awards
from prior
years		     Plus:
Change in
FV of
stock and
option
awards
from prior
years that
vested in
the
covered
year		     Plus: For
awards
granted
in the
covered
year that
vested
during
the
covered
year		     Less: FV
at prior
fiscal
year-end
of stock
and option
awards
forfeited
during
the
covered
year		     Compensation
actually paid		  
    $     $     $     $     $     $     $     $  
2024     288,420       (4,817 )     -       (7,776 )     (1,926 )     -       (44,157 )     229,744  
2023     321,164       -119,832       -199,536       -559       -       170,250       -21,957       548,962  
2022     177,658       -5,678       -       45,207       18,667       --       -       235,854  
[2] Amounts deducted or added to calculate the compensation actually paid to other NEOs, on average, for each of the following fiscal years

Average
Non-CEO
NEOs

Year   Summary
compensation
table total		     Less:
Summary
compensation
table total
equity (stock
awards +
option
awards)		     Plus: FV
as of fiscal
year end of
stock and
option
awards
granted in
covered
year		     Plus:
Change in
FV  of
outstanding
unvested
stock and
option
awards
from prior
years		     Plus:
Change in
FV of
stock and
option
awards
from prior
years that
vested in
the
covered
year		     Plus:
For awards
granted
in the
covered
year that
vested
during
the
covered
year		     Less: FV
at prior
fiscal
year- end
of stock
and option
awards
forfeited
during
the
covered
year		     Compensation
actually paid		  
    $     $     $     $     $     $     $     $  
2024     118,404       (9,634 )     -       1,647       (3,852 )     -       (9,383)       97,182  
2023     79,308       -7,989       13,302       -56       -       11,350       -2158       93,757  
2022     115,556.00       -2,555.00       0       33,905.32       8,400.00       -       -       155,306.32