XML 50 R35.htm IDEA: XBRL DOCUMENT v3.22.2.2
Organization and Description of Business (Details)
 1 Months Ended 12 Months Ended
Apr. 13, 2020
Jan. 10, 2020
Feb. 11, 2015
Apr. 14, 2009
Dec. 29, 2018
Mar. 31, 2016
Mar. 24, 2014
Jul. 31, 2013
USD ($)
Jul. 19, 2013
Jun. 15, 2013
USD ($)
Jun. 15, 2013
CNY (¥)
Dec. 31, 2021
USD ($)
$ / shares
shares
Dec. 31, 2021
CNY (¥)
Jul. 27, 2021
$ / shares
shares
Dec. 31, 2020
$ / shares
shares
Jan. 04, 2019
USD ($)
Jan. 04, 2019
CNY (¥)
Apr. 28, 2016
CNY (¥)
Organization and Description of Business (Details) [Line Items]                                    
Amount of ownership interest | $               $ 1,290,000                    
Electricity sold | ¥                                   ¥ 0.3
Percentage of owns                 10.00%                  
Description of business agreement         On December 29, 2018, Xi’an Zhonghong, Xi’an TCH, HYREF, Guohua Ku, and Mr. Chonggong Bai entered into a CDQ WHPG Station Fixed Assets Transfer Agreement, pursuant to which Xi’an Zhonghong transferred Chengli CDQ WHPG station (‘the Station”) as the repayment for the loan of RMB 188,639,400 ($27.54 million) to HYREF. Xi’an Zhonghong, Xi’an TCH, Guohua Ku and Chonggong Bai also agreed to a Buy Back Agreement for the Station when certain conditions are met (see Note 8). The transfer of the Station was completed on January 22, 2019, at which time the Company recorded a $624,133 loss from this transfer.                          
Cooperative agreement, description                 The term of the Tianyu Agreement is 20 years. The construction of the Xuzhou Tian’an Project is anticipated to be completed by the second quarter of 2020.                  
Transfer agreement                               $ 17,520,000 ¥ 120,000,000  
Description of business agreement                       The Company recorded $397,033 loss from this transfer during the year ended December 31, 2019. On January 10, 2019, Mr. Chonggong Bai transferred all the equity shares of his wholly owned company, Xi’an Hanneng, to HYREF as repayment for the loan. Xi’an Hanneng was expected to own 47,150,000 shares of Xi’an Huaxin New Energy Co., Ltd for the repayment of Huayu system and Shenqiu system. As of September 30, 2019, Xi’an Hanneng already owned 29,948,000 shares of Huaxin, but was not able to obtain the remaining 17,202,000 shares due to halted trading of Huaxin stock by NEEQ for not filing its 2018 annual report. On December 20, 2019, Mr. Bai and all the related parties agreed to have Mr. Bai instead making a payment in cash for the transfer price of Huayu (see Note 8 for detail).            
Transfer agreement, description   Zhonghong, Tianyu and Huaxin signed a transfer agreement to transfer all assets under construction and related rights and interests of Xuzhou Tian’an Project to Tianyu for RMB 170 million including VAT ($24.37 million) in three installment payments. The 1st installment payment of RMB 50 million ($7.17 million) to be paid within 20 working days after the contract is signed. The 2nd installment payment of RMB 50 million ($7.34 million) is to be paid within 20 working days after completion of the project construction but no later than July 31, 2020. The final installment payment of RMB 70 million ($10.28 million) is to be paid before December 31, 2020. The Company received the payment in full for Tian’an Project as of December 31, 2020.                                
Description of transfer agreement           In March 2016, Xi’an TCH entered into a Transfer Agreement of CDQ and a CDQ WHPG system with Zhongtai and Xi’an Huaxin (the “Transfer Agreement”). Under the Transfer Agreement, Xi’an TCH agreed to transfer to Zhongtai all of the assets associated with the CDQ Waste Heat Power Generation Project (the “Project”), which is under construction pursuant to the Zhongtai Agreement. Additionally, Xi’an TCH agreed to transfer to Zhongtai the Engineering, Procurement and Construction (“EPC”) Contract for the CDQ Waste Heat Power Generation Project which Xi’an TCH had entered into with Xi’an Huaxin in connection with the Project. Xi’an Huaxin will continue to construct and complete the Project and Xi’an TCH agreed to transfer all its rights and obligations under the EPC Contract to Zhongtai. As consideration for the transfer of the Project, Zhongtai agreed to pay to Xi’an TCH RMB 167,360,000 ($25.77 million) including (i) RMB 152,360,000 ($23.46 million) for the construction of the Project; and (ii) RMB 15,000,000 ($2.31 million) as payment for partial loan interest accrued during the construction period. Those amounts have been, or will be, paid by Zhongtai to Xi’an TCH according to the following schedule: (a) RMB 50,000,000 ($7.70 million) was to be paid within 20 business days after the Transfer Agreement was signed; (b) RMB 30,000,000 ($4.32 million) was to be paid within 20 business days after the Project was completed, but no later than July 30, 2016; and (c) RMB 87,360,000 ($13.45 million) was to be paid no later than July 30, 2017. Xuzhou Taifa Special Steel Technology Co., Ltd. (“Xuzhou Taifa”) guaranteed the payments from Zhongtai to Xi’an TCH. The ownership of the Project was conditionally transferred to Zhongtai following the initial payment of RMB 50,000,000 ($7.70 million) by Zhongtai to Xi’an TCH and the full ownership of the Project will be officially transferred to Zhongtai after it completes all payments pursuant to the Transfer Agreement. In 2016, Xi’an TCH had received the first payment of $7.70 million and the second payment of $4.32 million. However, the Company received a repayment commitment letter from Zhongtai on February 23, 2018, in which Zhongtai committed to pay the remaining payment of RMB 87,360,000 ($13.45 million) no later than the end of July 2018; in July 2018, Zhongtai and the Company reached a further oral agreement to extend the repayment term of RMB 87,360,000 ($13.45 million) by another two to three months. In January 2020, Zhongtai paid RMB 10 million ($1.41 million); in March 2020, Zhongtai paid RMB 20 million ($2.82 million); in June 2020, Zhongtai paid RMB 10 million ($1.41 million); and in December 2020, Zhongtai paid RMB 30 million ($4.28 million), which was payment in full. Accordingly, the Company reversed the bad debt expense of $5.80 million in 2020 which had been recorded earlier. Formation of Zhongxun On March 24, 2014, Xi’an TCH incorporated a subsidiary, Zhongxun Energy Investment (Beijing) Co., Ltd. (“Zhongxun”) with registered capital of $5,695,502 (RMB 35,000,000), which must be contributed before October 1, 2028. Zhongxun is 100% owned by Xi’an TCH and will be mainly engaged in project investment, investment management, economic information consulting, and technical services. Zhongxun has not commenced operations nor has any capital contribution been made as of the date of this report. Formation of Yinghua On February 11, 2015, the Company incorporated a subsidiary, Shanghai Yinghua Financial Leasing Co., Ltd.                        
Description of formation of zhongxun             On March 24, 2014, Xi’an TCH incorporated a subsidiary, Zhongxun Energy Investment (Beijing) Co., Ltd. (“Zhongxun”) with registered capital of $5,695,502 (RMB 35,000,000), which must be contributed before October 1, 2028. Zhongxun is 100% owned by Xi’an TCH and will be mainly engaged in project investment, investment management, economic information consulting, and technical services. Zhongxun has not commenced operations nor has any capital contribution been made as of the date of this report. Formation of Yinghua On February 11, 2015, the Company incorporated a subsidiary, Shanghai Yinghua Financial Leasing Co., Ltd.                      
Description of formation of yinghua     On February 11, 2015, the Company incorporated a subsidiary, Shanghai Yinghua Financial Leasing Co., Ltd. (“Yinghua”) with registered capital of $30,000,000, to be paid within 10 years from the date the business license is issued. Yinghua is 100% owned by the Company and will be mainly engaged in financial leasing, purchase of financial leasing assets, disposal and repair of financial leasing assets, consulting and ensuring of financial leasing transactions, and related factoring business. Yinghua has not commenced operations nor has any capital contribution been made as of the date of this report.                               
Description of reverse stock split On April 13, 2020, the Company filed a certificate of change (“Certificate of Change”) with the Secretary of State of the State of Nevada, pursuant to which, on April 13, 2020, the Company effected a reverse split of its common stock, at a rate of 1-for-10, accompanied by a corresponding decrease in the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). The accompanying consolidated financial statements (“CFS”) and related disclosure for periods prior to the Reverse Stock Split were retroactively restated to reflect this reverse stock split.                                   
Common stock, shares authorized                       100,000,000     100,000,000      
Common stock, par value | $ / shares                       $ 0.001     $ 0.001      
Minimum [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Common stock, shares authorized                           10,000,000        
Maximum [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Common stock, shares authorized                           100,000,000        
DaTong Recycling Energy Technology Co., Ltd. [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Maturity term       20 years                            
Ownership percentage                       30.00%            
Erdos Metallurgy Co., Ltd. [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Ownership percentage       7.00%           7.00% 7.00%              
Xi'an TCH Energy Technology Co., Ltd. [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Ownership percentage       93.00%                            
Erdos TCH [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Amount of ownership interest                   $ 1,290,000 ¥ 8,000,000              
Until operation resume                       $ (145,460) ¥ 1,000,000          
DaTangShiDai (BinZhou) Energy Savings Technology Co., Ltd. [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Ownership percentage                       30.00%            
TianYu XuZhou Recycling Energy Technology Co, Ltd. [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Ownership percentage                       40.00%            
Xi’an Zhonghong New Energy Technology Co., Ltd. [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Ownership, description                 Zhonghong is engaged to provide energy saving solution and services, including constructing, selling and leasing energy saving systems and equipment to customers. On December 29, 2018, Shanghai TCH entered into a Share Transfer Agreement with HYREF, pursuant to which HYREF transferred its 10% ownership in Zhonghong to Shanghai TCH for RMB 3 million ($0.44 million). The transfer was completed on January 22, 2019. The Company owns 100% of Xi’an Zhonghong after the transaction.                  
Zhonghong [Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Percentage of owns                 90.00%                  
Articles of Incorporation[Member]                                    
Organization and Description of Business (Details) [Line Items]                                    
Common stock, par value | $ / shares                           $ 0.001