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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (58,935,452) $ (61,795,279)
Adjustments to reconcile net income to net cash  provided by (used in) operating activities:    
Amortization on capital lease 91,901 96,914
Depreciation and amortization 18,007,875 27,139,589
Deferred tax asset 1,632,978 3,215,727
Stock-based compensation expense 194,700 451,350
Bad debt expense 1,669,002 431
Impairment of inventory 989,035 230,776
Impairment of property plant and equipment 6,772,500
Amortization of right-of-use asset 877,809 887,603
Loss on disposal of property, plant and equipment 29,169,008
Changes in assets and liabilities    
Accounts receivable 4,264,140 410,057
Inventories (733,302) 769,543
Prepayment and deposits 248,817 (4,268,797)
Advance from customers (42,471) 42,945
Other receivables (87,515) (6,849)
Accounts and Other payable and accrued expenses (2,191,652) 1,114,904
Taxes payable (357,954) (213,480)
Lease liabilities (894,351) (827,285)
Net cash provided by (used in) operating activities 675,068 (32,751,851)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant and equipment (60,526,213)
Interest-free loan lent to related parties (25,275)
Net cash used in investing activities (60,551,488)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayment of finance leases obligation (264,094) (267,810)
Proceeds from interest-free loan from a related party 14,854
Net cash used in financing activities (249,240) (267,810)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (2,023,072) (2,982,659)
NET DECREASE IN CASH AND CASH EQUIVALENTS (62,148,732) (36,002,320)
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 72,223,894 108,226,214
CASH AND CASH EQUIVALENTS - END OF YEAR 10,075,162 72,223,894
Cash paid during the year for:    
Paid for taxes 1,520,292 6,413,065
Interest on finance lease obligation 91,901 96,914
Paid for Flood Prevention Project $ 48,384,711