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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current Assets    
Cash $ 10,367,539 $ 72,223,894
Accounts receivable ,net 1,736,295 4,865,696
Inventories, net 413,760 577,229
Prepayments and deposits 8,274,872 8,395,290
Other receivable 2,597 7,482
Total Current Assets 20,795,063 86,069,591
Non-Current Assets    
Property, plant and equipment, net 152,673,899 122,188,023
Finance lease right-of use assets 80,068 83,115
Operating lease right-of-use assets 6,407,509 6,699,784
Prepaid land leases, net of current portion 9,691,071 9,772,170
Deferred tax assets ,net 4,278,416 1,859,025
Total non-current assets 173,130,963 140,602,117
Total Assets 193,926,026 226,671,708
Current Liabilities    
Accounts payable and accrued expenses 15,608,873 8,833,936
Taxes payable-current 157,869 475,630
Advance from customer 15,523 42,705
Amount due to related parties 2,579,729 2,586,658
Finance lease liability, current portion 177,313 172,625
Operating lease liabilities, current portion 482,129 473,653
Total Current Liabilities 19,021,436 12,585,207
Non-Current Liabilities    
Finance lease liability, net of current portion 1,085,223 1,312,950
Operating lease liabilities, net of current portion 6,904,242 7,525,255
Total Non-Current Liabilities 7,989,465 8,838,205
Total Liabilities 27,010,901 21,423,412
Commitment and Loss Contingencies
Stockholders’ Equity    
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 11,012,754 shares issued; and 10,726,924 shares outstanding as of June 30, 2024 and December 31, 2023, respectively 24,623 24,623
Treasury stock; 285,830  shares as of June 30, 2024 and December 31, 2023 at cost (1,372,673) (1,372,673)
Additional paid-in capital 101,688,262 101,688,262
Retained earnings unappropriated 59,204,206 96,294,256
Retained earnings appropriated 26,667,097 26,667,097
Accumulated other comprehensive loss (19,296,390) (18,053,269)
Total Stockholders’ Equity 166,915,125 205,248,296
Total Liabilities and Stockholders’ Equity $ 193,926,026 $ 226,671,708