XML 106 R81.htm IDEA: XBRL DOCUMENT v3.20.1
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