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Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Sep. 30, 2021
CURRENT ASSETS    
Cash $ 5,711,458 $ 8,077,908
Short-term investments 13,148,594 13,725,204
Accounts receivable, net 15,183,890 15,573,742
Inventories, net 2,206,488 2,462,542
Due from related parties   236,982
Advance to suppliers 16,701 2,738,313
Prepayment for advertising   7,492,320
Prepayment for acquisition 3,514,450  
Prepaid expenses and other current assets 1,724,099 174,053
TOTAL CURRENT ASSETS 41,505,680 50,481,064
Property, plant and equipment, net 4,250,638 4,681,353
Prepayments made to a related party for purchase of property 2,249,248 2,476,800
Prepayments for construction in progress 9,326,296 10,712,160
Intangible assets, net 157,451 178,483
Investment in equity securities 702,890 744,924
Deferred tax assets 1,347,672 869,997
TOTAL NONCURRENT ASSETS 18,034,195 19,663,717
TOTAL ASSETS 59,539,875 70,144,781
CURRENT LIABILITIES    
Short-term bank loans 3,936,184 4,334,400
Accounts payable 3,075,393 5,310,526
Taxes payable 167,350 1,101,460
Due to related parties 3,379,263 19,723
Accrued expenses and other current liabilities 2,539,362 444,319
TOTAL CURRENT LIABILITIES 13,097,552 11,210,428
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY    
Ordinary shares, $0.003125 par value, 100,000,000 shares authorized, 21,750,000 shares issued and outstanding as of September 30, 2022 and 2021 67,969 67,969
Additional paid in capital 29,279,159 29,279,159
Statutory reserve 2,439,535 2,439,535
Retained earnings 16,322,365 25,058,931
Accumulated other comprehensive (loss) income (1,666,705) 2,088,759
TOTAL SHAREHOLDERS’ EQUITY 46,442,323 58,934,353
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 59,539,875 $ 70,144,781