XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Statement of Cash Flows [Abstract]    
Net (loss) income $ (1,366,697) $ 495,115
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 612,759 608,776
Stock-based compensation expenses 468,935 240,802
Amortization of operating lease right-of-use assets 150,008 205,112
Changes in operating assets:    
Accounts receivable (3,983,251) (4,169,920)
Bills receivable 87,573
Inventories 6,513,887 8,856,426
Prepaid expenses and other current assets (235,028) 62,161
Advance to suppliers (80,762) (1,679,610)
Changes in operating liabilities:    
Accounts payable (3,040,398) (2,211,568)
Accrued expenses (749,942) (485,721)
Other payables 65,232 (203,553)
Deferred revenue 235,827 (303,261)
Operating lease liabilities (176,069) (206,702)
Income tax payable (615,449) (1,270,858)
Net cash (used in) provided by operating activities (2,200,948) 24,772
Purchases of property, plant, and equipment (130,271) (61,258)
Payments for construction of properties (15,150) (1,434,965)
Payment for long-term deposits (241,544) (276,498)
Net cash used in investing activities (386,965) (1,772,721)
Dividend payment (614,742) (614,742)
Repayment from short-term loan (3,435,297)
Proceeds from short-term loan 5,566,040 3,117,337
Net cash provided by financing activities 1,516,001 2,502,595
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND RESTRICTED CASH 8,917 (95,016)
NET (DECREASE) INCREASE IN CASH AND RESTRICTED CASH (1,062,995) 659,630
CASH, AND RESTRICTED CASH, BEGINNING OF THE PERIOD 14,036,867 19,411,603
CASH, AND RESTRICTED CASH, END OF THE PERIOD 12,973,872 20,071,233
CASH, AND RESTRICTED CASH, END OF THE PERIOD 12,973,872 20,071,233
LESS: NON-CURRENT RESTRICTED CASH 1,607,644 1,611,294
CASH, END OF THE PERIOD 11,366,228 18,459,939
Supplemental disclosure information:    
Cash paid for interest 480,203 388,951
Income tax paid 726,177 1,585,961
Non-cash investing and financing activities    
Equipment obtained by utilizing long-term deposit 44,215 25,464
Operating lease right of use assets obtained in exchange for operating lease obligations $ 67,512 $ 177,068