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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES        
Net Income (Loss) $ (681,816) $ 3,901,794 $ (1,239,563) $ 3,781,848
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:        
Amortization on capital lease obligation     56,461 69,696
Depreciation and amortization 5,236,541 5,272,796 10,596,765 10,275,874
Unrealized exchange (gain) loss on translation of inter-company balances 5,644 (245,541) (26,708) 38,248
Deferred tax asset     (393,255) 1,249,763
Changes in assets and liabilities:        
Accounts receivable     3,152,419 4,683,856
Inventories     791,146 94,412
Prepayments and deposits     52,136 (2,790,331)
Other receivables     (1,222)
Accounts and Other payable and accrued expenses     (1,518,073) 2,219,224
Taxes payable     (288,429) (56,516)
Operating lease     (170,121) (1,073,677)
Net cash provided by (used in) by operating activities     11,011,556 18,492,397
CASH FLOWS USED IN INVESTING ACTIVITIES        
Purchase of property, plant and equipment (15,610) (32,822,927) (48,352) (33,217,987)
Net cash used in investing activities     (48,352) (33,217,987)
CASH FLOWS USED IN FINANCING ACTIVITIES        
Repayment of finance lease obligation     (267,810) (283,915)
Net cash used in financing activities     (267,810) (283,915)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS     (3,648,129) (1,642,327)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS     7,047,265 (16,651,832)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD     108,226,214 95,767,263
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 115,273,479 $ 79,115,431 115,273,479 79,115,431
Cash paid during the year for:        
Paid for taxes     3,761,055 3,835,926
Interest on finance lease obligation     $ 56,461 $ 69,696