XML 56 R43.htm IDEA: XBRL DOCUMENT
v3.22.1

Construction Loan Facility and Lines of Credit (Details) |  | 1 Months Ended | 12 Months Ended | 13 Months Ended |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Sep. 18, 2021 | Jun. 30, 2020 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Apr. 30, 2021 | Dec. 31, 2021 CNY (¥) | Jul. 12, 2021 USD ($) | Jul. 12, 2021 CNY (¥) | Jun. 25, 2021 | Jun. 30, 2020 CNY (¥) | Apr. 30, 2020 CNY (¥) | Jun. 21, 2013 USD ($) | Jun. 21, 2013 CNY (¥)
Construction Loan Facility and Lines of Credit (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Line of credit amount |  | $ 1,200,000 |  |  |  |  |  |  |  | ¥ 8,500,000 |  | $ 13,000,000 | ¥ 80,000,000
Description of loan interest rates |  |  | The loan bears interest based upon 110% of the PRC government’s eight-year term rate effective on the actual draw-down date, subject to annual adjustments based on 110% of the floating rate for the same type of loan on the anniversary from the draw-down date and its subsequent anniversary dates. The interest rate has remained at 5.39% on each of the July 10 anniversary dates since inception. The loan required interest-only payments for the first two years. Beginning July 11, 2015, the principal was due in at least two (2) annual installments with the first annual payment being due within six month period after July 10, 2015 and the second annual payment being due July 10, 2016 and each following year over the next five years through July 11, 2021 on the identical terms as described above for 2015. |  |  |  |  |  |  |  |  |  |
Principal Payments |  |  | $ 2,325,039 |  |  | ¥ 15,000,000 |  |  |  |  |  |  |
Lines of credit description |  | the Company obtained a line of credit with Bank of Communications for an aggregate amount of RMB 8,500,000 (approximately $1.2 million), all of which has been advanced. The loan bears interest at the rate of 4.05% per annum. The line of credit is due in one year on the anniversary date of the line of credit. In addition, the Company’s Chief Executive Officer and Chair of the Board personally guaranteed the new line of credit and pledged personal assets as collateral for the loan. On June 21, 2021 the Company paid the balance in full. On June 25, 2021 the Company entered into a new loan bearing an interest rate of 4.17%. The line of credit is due in one year on the anniversary date of the line of credit. In addition, the Company’s Chief Executive Officer and Chair of the Board personally guaranteed the new line of credit and pledged personal assets as collateral for the loan. Total interest expense under this facility for the years ended December 31, 2021 and 2020 was $54,294 and $25,500, respectively. |  |  | the Company obtained a line of credit from Postal Savings Bank of China for an aggregate amount of RMB 10,000,000 (approximately $1.4 million), of which RMB 5,000,000 (approximately $0.7 million) was advanced in April 2020, and RMB 3,000,000 (approximately $0.4 million) was advanced in July 2020. The loan bears interest at a rate of 4.25% per annum. Advances on the line of credit are due two years from the date of the advance. A third party company has guaranteed the loan as being a second priority creditor in the collateral in certain land use rights and buildings next to the creditor of the construction loan facility as discussed above. In addition, the Company’s Chief Executive Officer and Chair of the Board personally guaranteed the new line of credit. The Company has an additional RMB 2,000,000 (approximately $0.3 million) available under the line, subject to a risk review and approval by the third party guarantee company. Total interest expense under this facility for the years ended December 31, 2021 and 2020 was $44,629 and $29,103, respectively. The Company repaid RMB 1,600,000 (approximately $0.25 million) during the year ended December 31, 2021 as per the repayment schedule. |  |  |  |  |  |  |  |
Interest rates description |  | The loan bears interest at the rate of 4.05% per annum. |  |  |  |  |  |  |  |  |  |  |
Interest rate |  |  | 1.00% |  |  | 1.00% |  |  |  |  |  |  |
Total interest expense |  |  | $ 542,001 | $ 294,159 |  |  |  |  |  |  |  |  |
Short-term loan |  |  |  |  |  |  | $ 460,000 | ¥ 3,000,000 |  |  |  |  |
Interest amount |  |  |  | 0 |  | ¥ 16,051 |  |  |  |  |  |  |
Haikou HaiHongXin microfinance Co., Ltd., [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Loan Facility and Lines of Credit (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate |  |  |  |  |  |  | 1.50% | 1.50% |  |  |  |  |
Bank of Communications [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Loan Facility and Lines of Credit (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate |  |  |  |  |  |  |  |  | 4.17% |  |  |  |
Total interest expense |  |  | 54,294 | 25,500 |  |  |  |  |  |  |  |  |
China CITIC Bank [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Loan Facility and Lines of Credit (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Total interest expense |  |  | $ 22,258 | 5,168 |  |  |  |  |  |  |  |  |
Line of credit, description |  |  | The Company obtained a line of credit of RMB 3,200,000 (approximately $0.5 million) from China CITIC Bank in September 2020 and obtained an advance of RMB 2,343,340 (approximately $0.3 million), and the remaining of RMB 856,660 (approximately $0.1 million) in October 2020 under this line. The loan bears interest at the rate of 4.50% per annum. In September, 2021 the Company repaid the line of credit in full. Also in September, 2021 the Company entered into a new line a credit in the amount of RMB 3,200,000 (approximately $0.8 million) on the same terms. The line of credit is due on September 2, 2022. |  |  |  |  |  |  |  |  |  |
Bank of China [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Loan Facility and Lines of Credit (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Interest amount |  |  | $ 15,582 | $ 0 |  |  |  |  |  |  |  |  |
Line of credit description | On September 18, 2021 the Company obtained a line of credit for RMB 10,000,000 (approximately $1.54 million) with Bank of China. The loan bears interest at the rate of 3.85% per annum. The line of credit is due September 18, 2022. The loan is collateralized by the Company’s new production facility. In addition, the Company’s Chief Executive Officer and Chair of the Board personally guaranteed the new line of credit. |  |  |  |  |  |  |  |  |  |  |  |
RMB [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Loan Facility and Lines of Credit (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Line of credit amount | ¥ |  |  |  |  |  |  |  |  |  |  | ¥ 10,000,000 |  |

X
- References No definition available. + Details
Name: | cphi_ConstructionLoanFacilityandLinesofCreditDetailsLineItems
Namespace Prefix: | cphi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cphi_DescriptionOfLoanInterestRate
Namespace Prefix: | cphi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cphi_DescriptionOfLoanInterestRates
Namespace Prefix: | cphi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cphi_InterestAmount
Namespace Prefix: | cphi_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | cphi_InterestRate
Namespace Prefix: | cphi_
Data Type: | dtr:percentItemType
Balance Type: | na
Period Type: | instant

X
- References No definition available. + Details
Name: | cphi_LineOfCreditDescription
Namespace Prefix: | cphi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | cphi_LinesCreditDescription
Namespace Prefix: | cphi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition This element represents the carrying value of a short-term real estate loan to finance building costs. The funds are disbursed as needed or in accordance with a prearranged plan; generally, a portion of the funds is disbursed at inception and the remainder as construction progresses. The money is repaid on completion of the project, usually from the proceeds of a mortgage loan. The rate is normally higher than the prime rate, and there is usually an origination fee. The effective yield on these loans tends to be high, and the lender has a security interest in the real property. Note that there are separate concepts for the current and noncurrent portions of long-term construction loans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ConstructionLoan
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466204&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28555-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (210.5-03(11)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 + Details
Name: | us-gaap_InterestExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Description of the terms of a credit facility arrangement. Terms typically include interest rate, collateral required, guarantees required, repayment requirements, and restrictions on use of assets and activities of the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityDescription
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of borrowings from a bank classified as other, maturing within one year or operating cycle, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_ShortTermBankLoansAndNotesPayable
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_RelatedPartyTransactionAxis=cphi_HaikouHaiHongXinMicrofinanceCoLtdMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=cphi_BankOfCommunicationsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=cphi_ChinaCITICBankMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=cphi_BankOfChinaMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_TitleOfIndividualAxis=cphi_RMBMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |