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Condensed Consolidated Balance Sheets
Jun. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Current Assets    
Cash and cash equivalents $ 10,802,613 $ 43,144,049
Restricted cash 0 422,832
Accounts receivable, net 47,011,566 44,962,926
Factoring receivable 43,728,005  
Inventories, net 978,837 1,069,698
Due a from related party   10,354,051
Advances to suppliers, net 3,155,084 3,420,628
Prepaid taxes 1,534,200 1,609,466
Prepaid expenses and other receivables, net 463,405 824,239
Total Current Assets 107,673,710 105,807,889
Other Assets    
Property, plant and equipment, net 1,829,261 2,103,947
Intangible assets, net 191,853 205,971
Right of use assets 1,700,923 313,172
Long-term investment 24,832,024 26,096,079
Total Non-current Assets 28,554,061 28,719,169
Total Assets 136,227,771 134,527,058
Current Liabilities    
Short-term bank loans 4,192,344 4,719,552
Accounts payable 2,396,958 1,563,787
Due to related parties 971,919 1,847,421
Customer deposits 1,060,664 3,580,622
Taxes payable 966,359 823,701
Loan payable to third parties 3,579,893 7,002,385
Lease liabilities-current 463,433 115,330
Accrued liabilities and other payables 2,624,664 2,114,258
Total Current Liabilities 16,256,234 21,767,056
Lease liabilities non-current 1,390,100 223,291
Total Liabilities 17,646,334 21,990,347
Stockholders' Equity    
Common stock, $0.24 par value, 6,000,000 shares authorized, 1,219,937 and 266,640 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 292,786 63,995
Additional paid-in capital 79,458,395 69,566,786
Statutory reserves 7,196,867 6,874,614
Retained earnings 38,462,003 36,684,794
Accumulated other comprehensive (loss) income (4,884,131) 1,071,149
Total Stockholders' Equity attributable to the Company 120,525,920 114,261,338
Noncontrolling interest (1,944,483) (1,724,627)
Total Stockholders' Equity 118,581,437 112,536,711
Total Liabilities and Stockholders' Equity $ 136,227,771 $ 134,527,058