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Condensed Financial Information of the Parent Company | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY | Note 18 - CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The Company performed a test on the restricted net assets of consolidated subsidiary in accordance with Rule 4-08 (e)(3) of Regulation S-X, “General Notes to Financial Statements” and concluded that it was applicable to the Company; and, therefore, the financial statements for the parent company are included herein. The Company did not pay any dividends to the shareholders for the periods presented. For the purpose of presenting parent only financial information, the Company records its investment in its subsidiary under the equity method of accounting. Such investment is presented on the separate condensed balance sheets of the Company as “Investment in subsidiary” and the income (loss) of the subsidiary is presented as “share of income (loss) of subsidiary”. Certain information and footnote disclosures are generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. As of December 31, 2022 and 2021, the Company did not have any outstanding guarantees, long-term obligations, or significant capital and other commitments.
|  | December 31, 2022 |  |  | December 31, 2021 |
Non-current assets |  |  |  |  |  |
Investment in subsidiary |  | $ | 2,214,085 |  |  | $ | 2,796,954 |
Deferred offering costs |  |  | 1,306,313 |  |  |  | - |
Total assets |  | $ | 3,520,398 |  |  | $ | 2,796,954 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Due to related parties |  | $ | 1,098,413 |  |  | $ | - |
Deferred offering costs in accrual and other payables |  |  | 600,000 |  |  |  | - |
Total current liabilities |  |  | 1,698,413 |  |  |  | - |
TOTAL LIABILITIES |  | $ | 1,698,413 |  |  | $ | - |
COMMITMENTS AND CONTINGENCIES |  |  |  |  |  |  |  |
SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Class A ordinary shares, $0.0001 par value, 300,000,000 shares authorized, 8,213,040 shares issued and outstanding as of December 31, 2022 and 2021* |  | $ | 821 |  |  | $ | 821 |
Class B ordinary shares, $0.0001 par value, 200,000,000 shares authorized, 3,786,960 shares issued and outstanding* |  |  | 379 |  |  |  | 379 |
Shares subscription receivables* |  |  | (1,200 | ) |  |  | (1,200 | )
Additional paid-in capital |  |  | 114,726 |  |  |  | 114,726 |
Statutory reserve |  |  | 282,545 |  |  |  | 282,545 |
Retained earnings |  |  | 1,563,563 |  |  |  | 2,335,046 |
Accumulated other comprehensive (loss) income |  |  | (138,849 | ) |  |  | 64,637 |
Total shareholders’ equity |  |  | 1,821,985 |  |  |  | 2,796,954 |
Total liabilities and shareholders’ equity |  | $ | 3,520,398 |  |  | $ | 2,796,954 |
* | Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023 (Note 14).
|  | Years Ended |
|  | December 31, 2022 |  |  | December 31, 2021 |  |  | December 31, 2020 |
(LOSS) INCOME FROM SUBSIDIARIES |  | $ | (771,483 | ) |  | $ | 2,308,626 |  |  | $ | 339,968 |
NET (LOSS) INCOME |  |  | (771,483 | ) |  |  | 2,308,626 |  |  |  | 339,968 |
FOREIGN CURRENCY TRANSLATION ADJUSTMENTS |  |  | (203,486 | ) |  |  | 39,076 |  |  |  | 25,897 |
COMPREHENSIVE (LOSS) INCOME |  | $ | (974,969 | ) |  | $ | 2,347,702 |  |  | $ | 365,865 |
|  | Years Ended |
|  | December 31, 2022 |  |  | December 31, 2021 |  |  | December 31, 2020 |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (771,483 | ) |  | $ | 2,308,626 |  |  | $ | 339,968 |
Adjustments to reconcile net loss to cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity loss (income) of subsidiary |  |  | 771,483 |  |  |  | (2,308,626 | ) |  |  | (339,968 | )
Net cash used in operating activities |  |  | - |  |  |  | - |  |  |  | - |
CHANGES IN CASH |  |  | - |  |  |  | - |  |  |  | - |
CASH, beginning of year |  |  | - |  |  |  | - |  |  |  | - |
CASH, end of year |  | $ | - |  |  | $ | - |  |  | $ | - |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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