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Discontinued Operations
 6 Months Ended
Jun. 30, 2022
Discontinued Operations [Abstract]  
DISCONTINUED OPERATIONS

22. DISCONTINUED OPERATIONS

 

On March 18, 2021, Chain Future Digital Tech (Beijing) Co., Ltd. was deregistered.

 

On April 9, 2021, FT Commercial Management (Beijing) Co., Ltd. was dissolved and deregistered.

 

On August 2, 2021, the Company sold Guangchengji (Guangdong) Industrial Co., Ltd. to an unrelated third party.

 

On September 2, 2021, Future Supply Chain Co., Ltd. discontinued its operations, and on November 4, 2021, it was transferred to Shaanxi Fu Chen Venture Capital Management Co. Ltd.

 

On June 27, 2022, Chain Cloud Mall Logistics Center (Shanxi) Co., Ltd. was dissolved and deregistered.

 

Loss from discontinued operations for June 30, 2022 and 2021 was as follows:

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2022   2021   2022   2021 
REVENUES  $
-
    594,658    
-
    593,772 
COST OF SALES   
-
    574,568    
-
    573,682 
GROSS PROFIT   
-
    20,090    
-
    20,090 
                     
OPERATING EXPENSES:                    
General and administrative   
-
    (197,073)   
-
    (130,461)
Bad debt provision   
-
    (6)   
-
    (3,075)
Total   
-
    (197,079)   
-
    (133,536)
OTHER INCOME (EXPENSE)                    
Interest income   
-
    147,953    
-
    281,308 
Other income(expenses) net   
-
    (602)   
-
    25,493 
Total   
-
    147,351    
-
    306,801 
                     
Income from discontinued operations before income tax   
-
    364,520    
-
    460,427 
Income tax provision   
 
    
 
         
-
 
Income from discontinued operation before non-controlling interest   
-
    364,520    
-
    460,427 
(Loss) Income on disposal of discontinued operations   (154)   508,407    (154)   156,493 
(LOSS) INCOME FROM DISCONTINUED OPERATION   (154)   872,927    (154)   616,920 

 

The major components of assets and liabilities related to discontinued operations are summarized below:  

 

   June 30,
2022		   December 31,
2021		 
Cash  $
      -
   $
         -
 
Property, plant and equipment, net   
-
    
-
 
Other current assets   
-
    
-
 
Amount due from related parties   
-
    157 
Total assets related to discontinued operations  $
-
    157 
           
Accrued expenses  $
-
   $
-
 
Amount due to related parties   
-
    
-
 
Total liabilities related to discontinued operations  $
-
   $
-