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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES        
Net Income (Loss) $ 3,901,794 $ (2,703,220) $ 3,781,848 $ (5,205,344)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:        
Interest on finance lease obligation     69,696 71,197
Depreciation and amortization 5,272,796 4,120,507 10,275,874 8,224,864
Unrealized exchange gain on translation of inter-company balances (245,541) 489,338 38,248 594,150
Deferred tax asset     1,249,763 (387,230)
Common stock issued for services     0 3,134,080
Issuance of stock options to employee 0 0 0 0
Changes in assets and liabilities:        
Accounts receivable     4,683,856 1,839,939
Inventories     94,412 (252,995)
Prepayments and deposits     (2,790,331) (98,992)
Other receivables     0 0
Accounts and Other payable and accrued expenses     2,219,224 (785,889)
Retention payable     0 0
Taxes payable     (56,516) 190,892
Prepaid land leases     0 0
Operating lease     (1,073,677) (298,897)
Net cash provided by (used in) by operating activities     18,492,397 7,025,775
CASH FLOWS USED IN INVESTING ACTIVITIES        
Purchase of property, plant and equipment (32,822,927) (5,806,435) (33,217,987) (5,806,435)
Net cash used in investing activities     (33,217,987) (5,806,435)
CASH FLOWS USED IN FINANCING ACTIVITIES        
Repayment of finance lease obligation     (283,915) (296,597)
Net cash used in financing activities     (283,915) (296,597)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS     (1,642,327) 1,912,746
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS     (16,651,832) 2,835,489
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD     95,767,263 94,222,538
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 79,115,431 $ 97,058,027 79,115,431 97,058,027
Cash paid during the periods for:        
Income taxes     0 0
Operating right-of-use assets obtained in exchange for lease obligations     $ 0 $ 0