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Condensed Financial Information of the Parent Company (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Explanatory [Abstract]

Schedule of statements of financial position - parent company only

		As of December 31,
		2021				2020
		(Unaudited)				(Unaudited)
Assets
Cash and cash equivalents		$	5,129,248			$	1,030,340
Other receivables			5,833				-
Goodwill			329,534				-
Investment in subsidiaries			5,731,576				1,823,463
Total assets		$	11,196,191			$	2,853,803

Liabilities and equity

Trade and other payables		$	135,295			$	116,084
Long-term borrowings from related company			4,575,852				4,947,400
Total liabilities			4,711,147				5,063,484

Equity
Ordinary Shares –Authorized 300,000,000 shares, par value $0.003 (2020: Authorized 100,000,000 shares*)			63,606				52,069
Subscription receivable			(50,000	)			(50,000	)
Additional paid in capital			15,603,631				2,082,795
Legal reserve			223,500				223,500
Accumulated deficit			(10,204,220	)			(4,722,294	)
Accumulated other comprehensive income			821,527				204,249
Capital & reserves			6.485,044				(2,209,681	)
Total liabilities and equity		$	11,196,191			$	2,853,803

Schedule of statements of profit and loss and comprehensive loss - parent company only

		For the years ended December 31,
		2021				2020				2019
		(Unaudited)				(Unaudited)				(Unaudited)
Revenue		$	-			$	-			$	-
Cost of sales			-				-				-
Gross margin			-				-				-

Administrative expenses			(1,861,520	)			(1,519,150	)			(656,176	)
Loss from operations			(1,861,520	)			(1,519,150	)			(656,176	)

Other income, net			227,205				9				-
Finance cost			(99,470	)			(92,717	)			(53,214	)
Equity (loss) income of subsidiaries			(3,748,142	)			(1,515,166	)			763,425
Net (loss) profit for the year			(3,620,407	)			(3,126,024	)			54,035
Total comprehensive (loss) income for the year		$	(5,481,927	)		$	(3,126,024	)		$	54,035

Schedule of statements of cash flows - parent company only

		For the years ended December 31,
		2021				2020				2019
		(Unaudited)				(Unaudited)				(Unaudited)
Operating activities
Net loss		$	(5,481,927	)		$	(3,126,024	)		$	54,035
Adjustments to reconcile net income to net cash provided by operating activities
Stock-based compensation			-				100,936				-
Equity loss from equity investments			3,748,142				1,514,166				(763,425	)
Changes in operating assets and liabilities:
Other receivables, net			(5,833	)			57,400				332,599
Other payables			(7,405,803	)			975,618				1,422,550
Net cash used in operating activities			(9,145,421	)			(477,904	)			1,045,759

Financing activities
IPO proceeds			13,244,329				-				-
Net cash provided by financing activities			13,244,329				-				-

Net increase (decrease) in cash and cash equivalents, and restricted cash			4,098,908				(477,904	)			1,045,759
Cash and cash equivalents at beginning of year			1,030,340				1,508,244				462,485
Cash and cash equivalents at end of year		$	5,129,248			$	1,030,340			$	1,508,244