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Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash $ 220,338 $ 1,101,443
Restricted cash 3,748 3,771
Accounts receivable, net 2,533,143 2,615,458
Inventory, net 3,045,851 2,645,488
Prepayments 532,661 311,402
Other receivables and other current assets 55,598 127,313
Total current assets 6,391,339 6,804,875
NON-CURRENT ASSETS    
Property, plant and equipment, net 4,365,871 4,724,105
Construction in progress 1,289,167 962,338
Land use rights, net 1,012,829 1,030,982
Operating lease right-of-use assets, net 71,870 87,380
Security deposits 9,030 9,030
Total non-current assets 6,748,767 6,813,835
TOTAL ASSETS 13,140,106 13,618,710
CURRENT LIABILITIES    
Bank borrowings - current 4,471,427 5,689,721
Operating lease liabilities, current 32,207 31,413
Accounts and other payables and accruals 2,508,758 4,538,322
Taxes payable 514,158 608,679
Unearned revenue 1,553,034 1,084,484
Amounts due to related parties 2,931,343 302,943
Obligation under secured borrowing arrangement 0 599,664
Total current liabilities 12,010,927 12,855,226
Bank borrowings – non-current 120,519 124,905
Operating lease liabilities, – non-current 39,663 55,967
Total non-current liabilities 160,182 180,872
TOTAL LIABILITIES 12,171,109 13,036,098
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Common stock, $0.001 par value, 400,000,000 shares authorized, 24,240,000 and 21,380,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023 24,240 21,380
Subscription receivable (30,000) (25,000)
Additional paid-in capital 7,829,752 6,671,016
Retained earnings (6,251,405) (5,313,943)
Accumulated other comprehensive loss (613,590) (775,841)
Total stockholders' equity 968,997 582,612
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 13,140,106 13,618,710
Series A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock – Series A, $0.001 par value, 100,000,000 shares authorized, 20,000,000 shares designated, 10,000,000 and 5,000,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023 $ 10,000 $ 5,000