Condensed Financial Information of the Parent Company (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of Balance Sheets

Balance Sheets

	December 31,
	2022			2021
ASSETS
Current assets
Cash and cash equivalents	$	104,926		$	126,159
Prepaid expenses and other receivables		490			1,666
Amount due from subsidiaries		31,019			30,979
Dividends receivable		3,195			3,195
Total current assets		139,630			161,999
Investment in subsidiaries		8,813,550			9,202,040
Total assets	$	8,953,180		$	9,364,039
LIABILITIES AND EQUITY
Current liabilities
Accrued expenses and other payables	$	4,617		$	15,779
Amount due to subsidiaries		4,035			3,700
Dividend payable		23,107			17,125
Total current liabilities		31,759			36,604
Total liabilities	$	31,759		$	36,604
EQUITY
Preferred stock		15			15
Authorized 50,000,000 shares at par value of $0.001 each
Issued and outstanding: 14,630,813 (2021 – 14,630,813)
Common stock		100			100
Authorized: 100,000,000 shares at par value of $0.001 each
Issued and outstanding: 99,502,243 (2021 – 99,502,243)
Additional paid-in capital		540,582			547,691
Subscriptions receivable		—			(7,109	)
Accumulated other comprehensive income (loss)		(383,276	)		130,622
Retained earnings		8,764,000			8,656,116
Total shareholders' equity		8,921,421			9,327,435
Total liabilities and equity	$	8,953,180		$	9,364,039

Schedule of Statements of Comprehensive Income (Loss)

Statements of Comprehensive Income (Loss)

	For the year ended December 31
	2022			2021			2020
Selling, general and administrative expenses		9,362			15,148			7,013
Total operating expenses		9,362			15,148			7,013
Loss from operations		(9,362	)		(15,148	)		(7,013	)
Other income (expenses)		(40	)		94			(23	)
Interest income		768			248			532
Equity earnings of subsidiaries, net of tax		122,500			8,482,286			116,873
Net income		113,866			8,467,480			110,369
Preferred stock dividends		(5,982	)		(5,982	)		(6,015	)
Net income attributable to common shareholders		107,884			8,461,498			104,354
Net income		113,866			8,467,480			110,369
Foreign currency translation adjustments		(513,898	)		110,697			24,246
Total comprehensive (loss) / income	$	(400,032	)	$	8,578,177		$	134,615

Schedule of Statements of Cash Flows

Statements of Cash Flows

	For the year ended December 31
	2022			2021			2020
Operating activities
Net income	$	113,866		$	8,467,480		$	110,369
Adjustments to reconcile net loss to net cash provided by (used in)    operating activities:
- Share-based compensation		—			7,735			3,003
- Equity in earnings of subsidiaries		(122,500	)		(8,482,286	)		(116,873	)
Changes in:
- Amount due from subsidiaries		(40	)		62,686			(7,659	)
- Prepaid expenses and other receivables		1,176			795			(1,295	)
- Amount due to subsidiaries		(2,573	)		507			(5,771	)
- Accrued expenses and other payables		(11,162	)		11,544			2,692
Net cash (used in) provided by operating activities		(21,233	)		68,461			(15,534	)
Financing activities
- Proceeds from issuance of common stock, net of share issuance costs		—			1,032			1,999
Net cash provided by financing activities		—			1,032			1,999
(Decrease) increase in cash and cash equivalents		(21,233	)		69,493			(13,535	)
Cash and cash equivalents, beginning of year		126,159			56,666			70,201
Cash and cash equivalents, end of year	$	104,926		$	126,159		$	56,666