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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current Assets    
Cash $ 11,237,493 $ 72,223,894
Accounts receivable ,net 1,186,880 4,865,696
Inventories, net 427,839 577,229
Prepayments and deposits 8,311,871 8,395,290
Other receivable 95,245 7,482
Total Current Assets 21,259,328 86,069,591
Non-Current Assets    
Property, plant and equipment, net 150,680,984 122,188,023
Finance lease right-of use assets 80,144 83,115
Operating lease right-of-use assets 6,385,605 6,699,784
Prepaid land leases, net of current portion 9,823,607 9,772,170
Deferred tax assets ,net 5,655,626 1,859,025
Total non-current assets 172,625,966 140,602,117
Total Assets 193,885,294 226,671,708
Current Liabilities    
Accounts payable and accrued expenses 15,775,145 8,833,936
Taxes payable-current 145,642 475,630
Advance from customer 42,705
Amount due to related parties 2,598,765 2,586,658
Finance lease liability, current portion 201,855 172,625
Operating lease liabilities, current portion 498,580 473,653
Total Current Liabilities 19,219,987 12,585,207
Non-Current Liabilities    
Finance lease liability, net of current portion 1,103,707 1,312,950
Operating lease liabilities, net of current portion 7,036,482 7,525,255
Total Non-Current Liabilities 8,140,189 8,838,205
Total Liabilities 27,360,176 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 September 30, 2024 and December 31, 2023, respectively 24,623 24,623
Treasury stock; 285,830  shares as of September 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 55,711,323 96,294,256
Retained earnings appropriated 26,667,097 26,667,097
Accumulated other comprehensive loss (16,193,514) (18,053,269)
Total Stockholders’ Equity 166,525,118 205,248,296
Total Liabilities and Stockholders’ Equity $ 193,885,294 $ 226,671,708