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CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
--- | --- | --- | --- | ---
Current assets: |  |  |  |
Cash and cash equivalents | $ 10,478,587 | $ 11,829,509 | $ 2,370,283 |
Other receivables, net | 13,182,529 | 232,318 |  |
Restricted cash | 5,000,000 |  |  |
Total current assets | 42,717,316 | 25,659,179 |  |
Non-current assets: |  |  |  |
Property, plant and equipment, net | 2,324,823 | 208,869 |  |
Total non-current assets | 16,098,373 | 9,811,685 |  |
Total assets | 58,815,689 | 35,470,864 |  |
LIABILITIES |  |  |  |
Other payables and accrued liabilities | 3,628,809 | 438,299 |  |
Other payables - related party | 21,341 | 62,368 |  |
Total liabilities | 14,065,407 | 7,214,819 |  |
SHAREHOLDERS' EQUITY |  |  |  |
Ordinary shares, $0.001 par value, 50,000,000 shares authorized, 35,141,114 and 33,000,000 shares issued and outstanding as of December 31, 2019 and 2018, respectively | 35,141 | 33,000 |  |
Additional paid-in capital | 20,771,849 | 12,831,969 |  |
Statutory reserves | 1,289,765 | 1,178,432 |  |
Retained earnings | 24,132,194 | 15,169,573 |  |
Accumulated other comprehensive losses | (1,478,667) | (956,929) |  |
Total shareholders' equity | 44,750,282 | 28,256,045 | 21,810,763 | $ 6,954,768
Total liabilities and shareholders' equity | 58,815,689 | 35,470,864 |  |
Parent Company |  |  |  |
Current assets: |  |  |  |
Cash and cash equivalents | 76,583 |  |  |
Other receivables, net | 600,000 |  |  |
Restricted cash | 5,000,000 |  |  |
Total current assets | 5,676,583 |  |  |
Non-current assets: |  |  |  |
Property, plant and equipment, net | 2,162,449 |  |  |
Investment in subsidiaries | 38,481,702 | 28,256,045 |  |
Total non-current assets | 40,644,151 | 28,256,045 |  |
Total assets | 46,320,734 | 28,256,045 |  |
LIABILITIES |  |  |  |
Other payables and accrued liabilities | 1,570,183 |  |  |
Other payables - related party | 269 |  |  |
Total liabilities | 1,570,452 |  |  |
SHAREHOLDERS' EQUITY |  |  |  |
Ordinary shares, $0.001 par value, 50,000,000 shares authorized, 35,141,114 and 33,000,000 shares issued and outstanding as of December 31, 2019 and 2018, respectively | 35,141 | 33,000 |  |
Additional paid-in capital | 20,771,849 | 12,831,969 |  |
Statutory reserves | 1,289,765 | 1,178,432 |  |
Retained earnings | 24,132,194 | 15,169,573 |  |
Accumulated other comprehensive losses | (1,478,667) | (956,929) |  |
Total shareholders' equity | 44,750,282 | 28,256,045 |  |
Total liabilities and shareholders' equity | $ 46,320,734 | $ 28,256,045 |  |

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