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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income(loss) $ (40,582,933) $ (3,015,360)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization on capital lease 70,835 80,252
Depreciation and amortization 14,037,554 15,385,624
Unrealized translation difference 165,444
Deferred tax asset (3,615,091) (1,002,511)
Amortization of right-of-use asset 659,509
Loss on disposal of equipment 29,169,008
Changes in assets and liabilities:    
Accounts receivable 3,677,653 3,132,796
Inventories 153,371 718,994
Prepayments and deposits 171,305 (3,947,311)
Advance from customers (42,545)
Other receivables (86,423)
Accounts and Other payable and accrued expenses (2,685,766) (1,503,845)
Amount due to related Parties
Taxes payable (330,299) (229,600)
Operating lease (889,641) 85,129
Net cash (used in) provided  by operating activities (293,463) 9,869,612
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (60,526,213) (15,197,648)
Net cash from investing activities (60,526,213) (15,197,648)
CASH FLOWS USED IN FINANCING ACTIVITIES    
Repayment of finance lease obligation (264,094) (267,810)
Net cash used in financing activities (264,094) (267,810)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 97,369 1,144,609
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (60,986,401) (4,451,237)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 72,223,894 108,226,214
CASH AND CASH EQUIVALENTS - END OF PERIOD 11,237,493 103,774,977
Cash paid during the nine-month period ended September 30, 2024 for:    
Paid for taxes 1,013,382 4,930,601
Interest on finance lease obligation $ 70,835 $ 80,252