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Asset Subject to Buyback | 3 Months Ended
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Mar. 31, 2021
Asset Subject To Buyback And Construction In Progress [Abstract] |
ASSET SUBJECT TO BUYBACK | 4. ASSET SUBJECT TO BUYBACK As of March 31, 2021 and December 31, 2020, the Company had asset subject to buyback of $28.71 million and $28.92 million, respectively, which was for the Chengli project. The Chengli project finished construction, and was transferred to the Company’s fixed assets at a cost of $35.24 million (without impairment loss) and ready to be put into operation as of December 31, 2018. On January 22, 2019, Xi’an Zhonghong completed the transfer of Chengli CDQ WHPG project as the partial repayment for the loan and accrued interest of RMB 188,639,400 ($27.54 million) to HYREF (see Note 8). However, because the loan was not deemed repaid due to the buyback provision (See Note 8 for detail), the Company kept the loan and the Chengli project recognized in its CFS as of March 31, 2021 and December 31, 2020.

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