XML 70 R40.htm IDEA: XBRL DOCUMENT v3.21.2
Summary of Significant Accounting Policies (Details) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2021
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Summary of Significant Accounting Policies (Details) [Line Items]                
Net income   $ 2,220,571 $ 993,940 $ 1,943,347 $ 395,389 $ 4,050,824 $ (8,772,757)  
Net Iincome   1,000,000.0   400,000        
Accumulated deficit   41,100,000   41,100,000   43,030,000.00    
Recognized total Right of Use Asset (“ROU”)   161,510   $ 161,510   $ 54,078  
Accounts receivable, description       As of June 30, 2021 and December 31, 2020, the Company had gross accounts receivable of $0 and $342,974 of Erdos TCH for electricity sold, respectively. As of June 30, 2021 and December 31, 2020, the Company had bad debt allowance of $0 and $34,297 for Erdos TCH due to the customer not making the payments as scheduled, respectively. As of June 30, 2021, all outstanding accounts receivable balance was collected in full.    As of December 31, 2019, the Company had gross accounts receivable of $48.06 million; of which, $35.42 million was for transferring the ownership of Huayu and Shenqiu Phase I and II systems to Mr. Bai; $10.03 million was from the sales of CDQ and a CDQ WHPG system to Zhongtai, and $2.61 million accounts receivable of Erdos TCH for electricity sold. As of December 31, 2020, the Company had bad debt allowance of $34,297 for Erdos TCH due to the customer not making the payments as scheduled. As of December 31, 2019, the Company had bad debt allowance of $5,733,781 for Zhongtai and $261,430 for Erdos TCH due to the customer not making the payments as scheduled. During the year ended December 31, 2020, the Company recognized a reversal of the bad debt allowance of $6,031,058, of which $5,799,094 was for Zhongtai and $231,964 was for Erdos TCH as a result of payment collection from Zhongtai and Erdos TCH.    
Description of insurance policy       Balances at financial institutions and state-owned banks within the PRC are covered by insurance up to RMB 500,000 (US$76,000) per bank. Any balance over RMB 500,000 (US$76,000) per bank in PRC will not be covered. At June 30, 2021, cash held in the PRC bank of approximately $145,934,700 was not covered by such insurance. The Company has not experienced any losses in such accounts.        
Asset impairment loss   $ 0   $ 0   $ 0    
Shares of antidilutive securities under warrants and option (in Shares)   30,911 31,311 30,911 31,311 31,311 406,764  
Net income           $ 4,050,000.00    
Net loss             $ 8,770,000  
Cash   $ 150,994,159 $ 62,666,385 $ 150,994,159 $ 62,666,385 107,804,013 16,221,297 $ 53,223,142
Cash on hand   150,994,159   150,994,159   107,804,013 16,221,297  
Operating lease liability   $ 161,511   $ 161,511        
Interest receivable on sales type leases           0 5,245,244  
Net investment in sales-type leases           0    
Bad debt allowance for net investment receivable           $ 8,287,560 $ 24,416,441  
Subsequent Event [Member]                
Summary of Significant Accounting Policies (Details) [Line Items]                
Private offering value $ 38,250,000              
Series of Individually Immaterial Business Acquisitions [Member]                
Summary of Significant Accounting Policies (Details) [Line Items]                
Business acquisition, description       The CFS include the accounts of CREG and its subsidiaries, Shanghai Yinghua Financial Leasing Co., Ltd. (“Yinghua”) and Sifang Holdings; Sifang Holdings’ wholly owned subsidiaries, Huahong New Energy Technology Co., Ltd. (“Huahong”) and Shanghai TCH Energy Tech Co., Ltd. (“Shanghai TCH”); Shanghai TCH’s wholly-owned subsidiary, Xi’an TCH Energy Tech Co., Ltd. (“Xi’an TCH”); and Xi’an TCH’s subsidiaries, 1) Erdos TCH Energy Saving Development Co., Ltd (“Erdos TCH”), 100% owned by Xi’an TCH, 2) Zhonghong, 90% owned by Xi’an TCH and 10% owned by Shanghai TCH, and 3) Zhongxun, 100% owned by Xi’an TCH. Substantially all the Company’s revenues are derived from the operations of Shanghai TCH and its subsidiaries, which represent substantially all the Company’s consolidated assets and liabilities as of June 30, 2021. However, there was no revenue for the Company for the six and three months ended June 30, 2021. All significant inter-company accounts and transactions were eliminated in consolidation.   The CFS include the accounts of CREG and its subsidiaries, Shanghai Yinghua Financial Leasing Co., Ltd. (“Yinghua”) and Sifang Holdings; Sifang Holdings’ wholly owned subsidiaries, Huahong New Energy Technology Co., Ltd. (“Huahong”) and Shanghai TCH Energy Tech Co., Ltd. (“Shanghai TCH”); Shanghai TCH’s wholly-owned subsidiary, Xi’an TCH Energy Tech Co., Ltd. (“Xi’an TCH”); and Xi’an TCH’s subsidiaries, 1) Erdos TCH Energy Saving Development Co., Ltd (“Erdos TCH”), 100% owned by Xi’an TCH (See note 1), 2) Zhonghong, 90% owned by Xi’an TCH and 10% owned by Shanghai TCH, and 3) Zhongxun, 100% owned by Xi’an TCH. Substantially all the Company’s revenues are derived from the operations of Shanghai TCH and its subsidiaries, which represent substantially all the Company’s consolidated assets and liabilities as of December 31, 2020.    
Xian Tch [Member]                
Summary of Significant Accounting Policies (Details) [Line Items]                
Recognized total Right of Use Asset (“ROU”)           $ 116,917    
Operating lease liability           $ 116,917    
PRC [Member]                
Summary of Significant Accounting Policies (Details) [Line Items]                
Description of insurance policy           Any balance over RMB 500,000 (US$77,000) per bank in PRC will not be covered. At December 31, 2020, cash held in the PRC bank of $107,510,548 was not covered by such insurance.