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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 1,047,641 $ 1,415,745 $ 1,669,357
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation 50,662 21,881 355,738
Amortization of right of use assets 3,167
Loss on disposal of property, plant and equipment 1,413
Accrued interest income from loans, net (102,418) (21,699) (6,525)
Net investment (gain) loss (208,626) 19,363 (103,375)
(Reversal of) credit losses of receivables and advances to suppliers (2,325) (6,442) (123,754)
Provision for (reversal of ) allowance for obsolete inventories 5,559 2,217 (5,317)
Deferred income tax 339,332 177,029 340,624
Changes in operating assets and liabilities:      
Short-term investments – trading securities (1,696,545) 2,418,675 (2,625,216)
Accounts receivable 567,480 (2,490,725) (1,100,056)
Accounts receivable – related party 390,197 499,933 578,157
Advances to suppliers 472,219 560,352 (184,369)
Deferred offering cost (130,134) 60,000 155,915
Inventories 194,872 (57,899) (276,672)
Prepaid expenses and other current assets (13,028) 89,583 769,913
Accounts payable (146,642) 225,198 127,422
Advances from customers 4,632
Deferred revenue (787,062) 261,856 12,089
Taxes payable 291,578 488,419 327,807
Operating lease liabilities (3,167)
Due to related parties (584) (3,320) 1,062
Accrued expenses and other current liabilities (340,133) 163,884 (127,375)
Net cash (used in) provided by operating activities (61,912) 3,824,050 (214,575)
Investing Activities      
Advance payment for software development (339,309) (117,617) (25,582)
Loans to third parties (11,260,542) (5,498,997) (356,595)
Repayment from third-party loans 8,830,933 199,463 317,059
Prepayment for office renovation (150,156)
Purchases of property, plant and equipment (186,499)
Purchases of held-to-maturity investments (11,000,000) (1,932,080) (1,240,329)
Redemption of held-to-maturity Investments 7,159,018 1,705,453
Net cash (used in) provided by investing activities (6,946,555) (7,349,231) 400,006
Financing activities:      
Borrowing from third parties 2,749,498
Proceeds from issuance of ordinary shares 15,142,902
Net cash provided by financing activities 15,142,902 2,749,498
Effect of exchange rate changes on cash (26,058) (112,465) 44,323
Net increase (decrease) in cash 8,108,377 (888,148) 229,754
Cash at beginning of year 1,203,160 2,091,308 1,861,554
Cash at end of year 9,311,537 1,203,160 2,091,308
Supplemental disclosures of cash flow information:      
Cash paid for income taxes 36,504 45,002 32,646
Non-cash transactions:      
Deferred offering cost 1,049,367
Operating right-of-use assets recognized for related operating lease liabilities $ 6,820