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Concentrations of Credit Risk and Major Customers
 12 Months Ended
Dec. 31, 2022
Risks and Uncertainties [Abstract]  
CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS

Note 13 – CONCENTRATIONS OF CREDIT RISK AND MAJOR CUSTOMERS

 

Customers

 

For the years ended December 31, 2022, 2021 and 2020, customers accounting for 10% or more of the Company’s net revenue were as follows:

 

   For the Years Ended December 31, 
Customer  2022   2021   2020 
Customer A   
*
%   
*
%   
*
%
Customer G   
*
%   
*
%   
*
%
Customer P   
*
%   
*
%   17.33%

 

*Less than 10%

 

As of December 31, 2021, no single customer accounted for more than 10% of the Company’s outstanding accounts receivable.

 

As of December 31, 2021, Customer Q, Customer R and Customer S accounted for 28%, 35% and 36% of the Company’s total current outstanding accounts receivable, respectively.

 

Suppliers

 

For the years ended December 31, 2022, 2021 and 2020, suppliers accounting for 10% or more of the Company’s purchase were as follows:

 

   For the Years Ended December 31, 
Supplier  2022   2021   2020 
Supplier D   *%   *%   16.45%
Supplier E   *%   *%   10.16%
Supplier F   *%   *%   17.62%
Supplier G   *%   35.57%   *%
Supplier H   28.29%   *%   *%
Supplier I   20.37%   *%   *%
Supplier J   18.61%   *%   *%
Supplier K   15.69%   *%   *%

 

*Less than 10%

 

As of December 31, 2022, Supplier G’s balance accounted for 39.87% of the Company’s total accounts payable.

 

As of December 31, 2021, Supplier G’s balance accounted for 35.57% of the Company’s total accounts payable.