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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Taxes [Abstract] |
Schedule of Effective Income Tax Rate and PRC Statutory Income Tax | The reconciliation of tax computed by applying the statutory income tax rate of 25% for the years ended December 31, 2023, 2022 and 2021 applicable to the PRC operations to income tax expenses is as follows:
|  | For the year ended December 31, |  |  | For the year ended December 31, |  |  | For the year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Statutory income tax rate |  |  | 25.00 | % |  |  | 25.00 | % |  |  | 25.00 | %
Effect of expenses not deductible for tax purposes |  |  | (0.20 | )% |  |  | 0.00 | % |  |  | 0.40 | %
Effect of additional deduction of research and development expense |  |  | 4.80 | % |  |  | 0.70 | % |  |  | (35.10 | )%
Effect of income tax exemptions and reliefs |  |  | (8.00 | )% |  |  | 2.90 | % |  |  | 60.90 | %
Recovery from deferred income tax assets |  |  | 5.20 | % |  |  | 5.50 | % |  |  | - |
Effect of valuation allowance on deferred income tax assets |  |  | (27.10 | )% |  |  | (28.00 | )% |  |  | 2.20 | %
Income tax difference under different tax jurisdictions |  |  | 4.30 | % |  |  | (6.10 | )% |  |  | (45.70 | )%
Prior year true-ups |  |  | - |  |  |  | - |  |  |  | (23.60 | )%
Others |  |  | (1.40 | )% |  |  | - |  |  |  | - |
Total |  |  | 2.60 | % |  |  | (0.00 | )% |  |  | (15.90 | )%
Schedule of Provision for Income Taxes | Significant components of the provision for income taxes are as follows:
|  | For the year ended December 31, |  |  | For the year ended December 31, |  |  | For the year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Current income tax expense |  | $ | - |  |  | $ | 7,666 |  |  | $ | 2,466,745 |
Deferred tax benefit |  |  | (1,031,461 | ) |  |  | (80,599 | ) |  |  | (2,845,588 | )
Income taxes benefit |  | $ | (1,031,461 | ) |  | $ | (72,933 | ) |  | $ | (378,843 | )
Schedule of Deferred Tax Assets and Liabilities | For the purpose of presentation in the consolidated balance sheets, deferred income tax assets and liabilities have been offset. Significant components of deferred tax assets and liabilities are as follows:
|  | As of December 31, |  |  | As of December 31, |
|  | 2023 |  |  | 2022 |
Provision for doubtful accounts |  | $ | 2,007,749 |  |  | $ | 1,986,464 |
Net operating loss carryforward |  |  | 30,276,268 |  |  |  | 23,052,402 |
Impairment of VAT recoverable, inventory write-down and others |  |  | 5,835,385 |  |  |  | 3,672,475 |
|  |  | 38,119,402 |  |  |  | 28,711,341 |
Less: valuation allowance |  |  | (38,119,402 | ) |  |  | (28,711,341 | )
Deferred tax assets |  | $ | - |  |  | $ | - |
Intangible assets |  | $ | - |  |  | $ | 1,004,365 |
Property, plant and equipment |  |  | 74,225 |  |  |  | 129,174 |
Deferred tax liabilities |  | $ | 74,225 |  |  | $ | 1,133,539 |
Total deferred tax liabilities |  | $ | 74,225 |  |  | $ | 1,133,539 |
Schedule of Cumulative Net Operating Loss of Major Tax Juridistions and the Year of Expiration | The amounts of cumulative net operating loss in 2023 of major tax jurisdictions and the year of expiration are as follows:
Tax Jurisdiction |  | Amount in USD (in thousands) |  |  | Earliest year of expiration if not utilized
PRC |  |  | 127,740 |  |  | 2025
Hong Kong |  |  | 19,087 |  |  | No expiration
Australia |  |  | 10,279 |  |  | No expiration
Singapore |  |  | 2,452 |  |  | No expiration
United States |  |  | 3,776 |  |  | No expiration

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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