XML 27 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Revenues $ 17,989,788 $ 14,882,763 $ 12,865,870
Cost of revenues (6,117,640) (4,655,827) (4,456,353)
Gross Profit 11,872,148 10,226,936 8,409,517
Operating Expenses      
Selling and marketing expenses (3,441,941) (3,196,469) (2,261,258)
General and administrative expenses (3,124,301) (2,524,003) (1,425,663)
Research and development expenses (816,553) (864,320) (1,447,949)
Total Operating Expenses (7,382,795) (6,584,792) (5,134,870)
Income from Operations 4,489,353 3,642,144 3,274,647
Interest income, net 146,965 211,479 191,609
Other income, net 305,566 534,020 37,364
Income Before Income Taxes 4,941,884 4,387,643 3,503,620
Income tax expenses (484,787) (387,144) (502,131)
Net Income 4,457,097 4,000,499 3,001,489
Net loss attributable to noncontrolling interests 1,283 46,171 17,834
Net Income Attributable to Zhongchao Inc.’s shareholders 4,458,380 4,046,670 3,019,323
Other Comprehensive Income (Loss)      
Foreign currency translation adjustment 1,259,984 (173,604) (379,520)
Comprehensive Income 5,717,081 3,826,895 2,621,969
Total comprehensive loss attributable to noncontrolling interests 1,283 46,171 17,834
Total comprehensive income attributable to Zhongchao Inc.’s shareholders $ 5,718,364 $ 3,873,066 $ 2,639,803
Weighted average number of ordinary share outstanding      
Basic and Diluted (in Shares) 24,425,637 21,600,135 20,764,245
Earnings per share      
Basic and Diluted (in Dollars per share) $ 0.183 $ 0.187 $ 0.145