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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ 10,059,450 $ (924,718)
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Amortization on capital lease 120,332 135,707
Depreciation and amortization 26,775,620 20,543,425
Unrealized translation difference 563,636 782,660
Deferred tax asset 6,586,985 6,298,218
Stock-based compensation expense 668,000 3,134,080
Shares issued from treasury stock for services 0 0
Changes in assets and liabilities    
Accounts receivable 8,195,123 (7,749,127)
Inventories (938,923) (259,999)
Prepayment and deposits 40,430 (2,849,670)
Other receivables 0 (85)
Accounts and Other payable and accrued expenses (820,628) 2,856,504
Amount due to a related Party 778,393 1,852,230
Taxes payable (288,197) (534,307)
Prepaid land leases 0 0
Operating lease (591,156) 26,251
Net cash provided by operating activities 51,149,065 23,311,169
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (37,560,932) (30,093,140)
Net cash used in investing activities (37,560,932) (30,093,140)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of finance lease obligation (264,863) (290,597)
Net cash used in financing activities (264,863) (290,597)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (864,319) 8,617,293
NET DECREASE IN CASH AND CASH EQUIVALENTS 12,458,951 1,544,725
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 95,767,263 94,222,538
CASH AND CASH EQUIVALENTS - END OF YEAR 108,226,214 95,767,263
Cash paid during the year for:    
Paid for taxes 10,076,097 13,818,199
Interest on finance lease obligation $ 120,322 $ 136,709