XML 25 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 15,072,947 $ 7,832,552
Short-term investments 2,032,928  
Accounts receivable 10,321,837 5,078,419
Prepayments 554,298 325,496
Due from a related party   14,364
Other current assets 1,613,408 1,258,040
Total Current Assets 29,595,418 14,508,871
Investment in a limited partnership 1,258,787  
Property and equipment, net 1,997,761 1,889,973
Deposit for property 700,884  
Prepayments for lease of land 367,588 366,409
Intangible assets, net 34,973 37,323
Right of use assets 65,137 245,982
Deferred tax assets 795,547 688,994
Total Assets 34,816,095 17,737,552
Current Liabilities    
Accounts payable 408,426 117,064
Advances from customers 6,760 73,961
Deferred government grants, current portion 323,192
Income tax payable 1,523,175 897,892
Operating lease liabilities, current portion 62,160 210,219
Accrued expenses and other liabilities 981,433 735,334
Total Current Liabilities 2,981,954 2,357,662
Operating lease liabilities, noncurrent portion 41,363
Total Liabilities 2,981,954 2,399,025
Commitments and Contingencies
Equity    
Additional paid-in capital 22,775,154 12,044,855
Statutory reserve 801,502 415,813
Retained earnings 7,339,778 3,267,087
Accumulated other comprehensive income (loss) 915,213 (344,771)
Total Zhongchao Inc.’s Shareholders’ Equity 31,834,141 15,385,144
Noncontrolling interests   (46,617)
Total Equity 31,834,141 15,338,527
Total Liabilities and Equity 34,816,095 17,737,552
Class A Ordinary Shares    
Equity    
Ordinary shares 1,944 1,610
Total Equity 1,944 1,610
Class B Ordinary Share    
Equity    
Ordinary shares 550 550
Total Equity $ 550 $ 550