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Discontinued Operations | 12 Months Ended
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Dec. 31, 2023
Discontinued Operations [Abstract] |
DISCONTINUED OPERATIONS | 24. DISCONTINUED OPERATIONS On June 27, 2022, Chain Cloud Mall Logistics Center (Shanxi) Co., Ltd. was dissolved and deregistered. On June 16, 2023, QR (HK) Limited was dissolved and deregistered. On December 5, 2023, FTFT PARAGUAY S.A. was dissolved. Loss from discontinued operations for fiscal years 2023 and 2022 was as follows:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
REVENUES |  | $ | - |  |  | $ | - |
COST OF SALES |  |  | - |  |  |  | - |
GROSS PROFIT |  |  | - |  |  |  | - |
OPERATING EXPENSES: |  |  |  |  |  |  |  |
General and administrative |  |  | - |  |  |  | 299,082 |
Total |  |  | - |  |  |  | 299,082 |
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |  |
Interest income |  |  | - |  |  |  | - |
Interest expense |  |  | - |  |  |  | (11,696 | )
Other income |  |  | - |  |  |  | 3,737 |
Total |  |  | - |  |  |  | (7,959 | )
Loss from discontinued operations before income tax |  |  | - |  |  |  | (307,041 | )
Income tax provision |  |  | - |  |  |  | - |
Loss from discontinued operation before noncontrolling interest |  | $ | - |  |  |  | - |
Gain (loss) on disposal of discontinued operations |  |  | 386,482 |  |  |  | (154 | )
Less: Net loss attributable to non-controlling interests |  |  | - |  |  |  | - |
LOSS FROM DISCONTINUED OPERATION |  | $ | 386,482 |  |  | $ | (307,195 | )
The major components of assets and liabilities related to discontinued operations are summarized below:
|  | December 31, 2023 |  |  | December 31, 2022 |
Cash and cash equivalents |  | $ | - |  |  | $ | 74,250 |
Other receivables |  |  | - |  |  |  | 14,312 |
Property, plant and equipment, net |  |  | - |  |  |  | 208,092 |
Total assets related to discontinued operations |  | $ | - |  |  | $ | 296,654 |
Accrued expenses and other payables |  | $ | - |  |  | $ | 105,479 |
Amount Due to Related Party |  |  | - |  |  |  | 9,077 |
Total liabilities related to discontinued operations |  | $ | - |  |  | $ | 114,556 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent + Details
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