0001144204-18-027789.txt : 20180514 0001144204-18-027789.hdr.sgml : 20180514 20180514061918 ACCESSION NUMBER: 0001144204-18-027789 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 75 CONFORMED PERIOD OF REPORT: 20180331 FILED AS OF DATE: 20180514 DATE AS OF CHANGE: 20180514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JRSIS HEALTH CARE Corp CENTRAL INDEX KEY: 0001597892 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HOSPITALS [8060] IRS NUMBER: 464562047 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36758 FILM NUMBER: 18828603 BUSINESS ADDRESS: STREET 1: ST-7TH FLOOR, INDUSTRIAL AND COMMERCIAL STREET 2: XINGFU STREET, HULAN TOWN, HULAN DISTRIC CITY: HARBIN CITY STATE: F4 ZIP: 150025 BUSINESS PHONE: 86 13510016379 MAIL ADDRESS: STREET 1: ST-7TH FLOOR, INDUSTRIAL AND COMMERCIAL STREET 2: XINGFU STREET, HULAN TOWN, HULAN DISTRIC CITY: HARBIN CITY STATE: F4 ZIP: 150025 10-Q 1 tv493736_10q.htm FORM 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2018

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-36758

JRSIS HEALTH CARE CORPORATION.

(Exact name of Registrant as specified in its charter)

Florida	8099	46-4562047
(State or other jurisdiction of	(Primary Standard Industrial	(I.R.S. Employer
incorporation or organization)	Classification Code Number)	Identification Number)

1 ^st – 7 ^th Floor, Industrial and Commercial Bank Building,

Xingfu Street, Hulan Town, Hulan District, Harbin City,

Heilongjiang Province, China 150025

(Address, including zip code, and telephone number, including area code,

of Registrant’s principal executive offices)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (Exchange Act) during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer¨	Accelerated filer ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)	Smaller reporting company x
	Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

As of the date of filing of this report, there were outstanding 14,975,000 shares of the issuer’s common stock, par value $0.001 per share.

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION		3

Item 1	Consolidated Financial Statements	F-1 - 18

Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4

Item 3	Quantitative and Qualitative Disclosures About Market Risk	10

Item 4	Controls and Procedures	10

PART II – OTHER INFORMATION		11

Item 1	Legal Proceedings	11

Item 1A	Risk Factors	11

Item 2	Unregistered Sale of Equity Securities and Use of Proceeds	11

Item 3	Defaults Upon Senior Securities	11

Item 4	Mine safety disclosures	11

Item 5	Exhibits	11

	Signatures	12

PART I – FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Item Regulation S-X, Rule 10-01(c) Interim Financial Statements, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the three months ended March 31, 2018 are not necessarily indicative of the results that can be expected for the year ended December 31, 2018.

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

	Page

JRSIS HEALTH CARE CORPORATION

Consolidated Balance Sheets— March 31, 2018 (Unaudited) and December 31, 2017		F-2

Consolidated Statements of Operations and Comprehensive Income for the Three Months Ended March 31, 2018 and 2017 (Unaudited)		F-3

Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2018 and 2017 (Unaudited)		F-4

Notes to Consolidated Financial Statements (Unaudited)		F-5 - 18

F-1

JRSIS HEALTH CARE CORPORATION

CONSOLIDATED BALANCE SHEETS

(AMOUNTS IN USD, EXCEPT SHARES)

	March 31,		December 31,
	2018		2017
	(Unaudited)

Assets
Current Assets:
Cash and cash equivalents	$	1,200,438	$	884,292
Accounts receivable, net		7,650,770		5,678,957
Inventories		1,155,449		936,549
Other receivables		11,256		3,334
Prepayments		811,806		900,680
Amount due from related parties		789,484		1,788,710
Deferred expenses		71,837		69,334
Total current assets		11,691,040		10,261,856
Construction in progress		12,212,307		11,320,976
Property and equipment, net		27,493,272		26,151,630
Long term deferred expenses		92,293		106,411
Deposits for capital leases		868,374		838,121
Total assets	$	52,357,286	$	48,678,994

Liabilities and shareholders’ equity
Current Liabilities:
Accounts payable	$	2,731,825	$	2,105,563
Short-term bank loan		-		445,647
Deposits received		10,413		6,305
Amount due to related parties		64,704		73,993
Other payable		26,903		77,935
Payroll payable		60,112		57,016
Capital lease obligations - current portion		2,572,635		2,313,181
Total current liabilities		5,466,592		5,079,640

Capital lease obligations		23,046,220		22,767,740
Other capital lease payable		620,044		598,811
Total liabilities	$	29,132,856	$	28,446,191

Shareholders’ equity
Common stock; $0.001 par value, 100,000,000 shares authorized; 14,965,000 and 14,835,000 issued and outstanding at March 31, 2018 and December 31, 2017, respectively		14,965		14,835
Additional Paid-in capital		2,181,373		2,051,503
Retained earnings		12,340,921		10,920,942
Other comprehensive income		490,407		(93,520	)
Total shareholders’ equity of the Company		15,027,666		12,893,760
Non-controlling interest		8,196,764		7,339,043
Total shareholders’ equity		23,224,430		20,232,803
Total liabilities and shareholders’ equity	$	52,357,286	$	48,678,994

See notes to consolidated financial statements

F-2

JRSIS HEALTH CARE CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(AMOUNTS IN USD, EXCEPT SHARES) (UNAUDITED)

	Three Months Ended March 31,
	2018			2017
	(Unaudited)			(Unaudited)
Revenue:
Medicine	$	2,708,046		$	2,528,075
Patient services		4,092,031			2,982,737
Total revenue		6,800,077			5,510,812
Operating costs and expenses:
Cost of medicine sold		1,824,465			1,650,466
Medical consumables		780,272			558,302
Salaries and benefits		1,027,089			814,366
Office supplies		210,500			119,302
Vehicle expenses		31,009			21,480
Utilities expenses		178,979			147,887
Rentals and leases		26,737			-
Advertising and promotion expenses		45			614
Interest expense		306,004			289,939
Professional fee		-			13,762
Depreciation		381,849			303,001
Total operating costs and expenses		4,766,949			3,919,119
Earnings from operations before other income and income taxes		2,033,128			1,591,693
Other income		(4,006	)		(2,930	)
Earnings from operations before income taxes		2,029,122			1,588,763
Income tax		581			919
Net income		2,028,541			1,587,844
Less: net income attributable to non-controlling interests		608,562			476,353
Net income attributable to the Company	$	1,419,979		$	1,111,491
Comprehensive income:
Foreign currency translation adjustment attributable to non-controlling interests		249,159			28,360
Foreign currency translation adjustment attributable to the Company		583,928			18,413
Comprehensive income	$	2,861,628		$	1,634,617
Less: Comprehensive income attributable to non-controlling interests		857,721			504,713
Comprehensive income attributable to the Company	$	2,003,907		$	1,129,904
Basic and diluted earnings per share	$	0.0955		$	0.0799
Weighted average number of shares outstanding		14,871,111			13,915,000

See notes to consolidated financial statements

F-3

JRSIS HEALTH CARE CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(AMOUNTS IN USD, EXCEPT SHARES)

	Three Months Ended March 31,
	2018			2017
	(Unaudited)			(Unaudited)
Cash Flows From Operating Activities
Net income	$	2,028,541		$	1,587,844
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		381,849			303,001
Interest		306,004			289,939
Changes in operating assets and liabilities:
Accounts receivable, net		(1,745,281	)		16,097
Inventories		(182,837	)		(27,322	)
Amount due from related parties		1,049,041			(2,591,155	)
Prepayments and other current assets		116,680			(74,585	)
Accounts payable		543,549			665,253
Amount due to related parties		(13,197	)		108,873
Deposits received		3,832			-
Accrued expenses and other current liabilities		(47,917	)		(61,978	)
Net cash provided by operating activities		2,440,264			215,967

Cash Flows From Investing Activities
Purchases of property and equipment		(698,950	)		(373,129	)
Prepayment for property and equipment acquisition		(514,640	)		(218,670	)
Net cash used in investing activities		(1,213,590	)		(591,799	)

Cash Flows From Financing Activities
Proceeds from shareholders		134,565			-
Payments on capital lease obligation		(694,479	)		(679,359	)
Short-term bank loan		(458,342	)		406,934
Net cash used in financing activities		(1,018,256	)		(272,425	)

Effect of exchange rate fluctuation on cash and cash equivalents		107,728			2,982
Net increase (decrease) in cash and cash equivalents		316,146			(645,275	)

Cash and cash equivalents, beginning of period		884,292			890,662
Cash and cash equivalents, ending of period	$	1,200,438		$	245,387

Supplemental disclosure of cash flow information
Cash paid for income taxes		581			919
Cash paid for interest		306,004			289,939

See notes to consolidated financial statements

F-4

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 1. DESCRIPTION OF BUSINESS AND ORGANIZATION

JRSIS HEALTH CARE CORPORATION (the “Company” or “JHCC”) was incorporated on November 20, 2013 under the laws of the United States and the State of Florida. The general nature of the business shall be to engage in any and all lawful business permitted under the laws of the United States and the State of Florida.

JRSIS HEALTH CARE LIMITED ("JHCL"), formally named China Runteng Medical Group Co., Ltd, which is a privately held Limited Liability Company registered in British Virgin Island (“BVI”) on February 25, 2013. JHCL was authorized to issue 50,000 shares of a single class each with par value of $1.00 per share to its sole shareholder Ms. Yanhua Xing. On November 20, 2013, China Runteng Medical Group Co., Ltd has changed its name to JRSIS HEALTH CARE LIMITED ("JHCL").

Runteng Medical Group Co., Ltd (“Runteng”) is a privately held limited liability company registered in Hong Kong on September 17, 2012. Runteng was authorized to issue up to 10,000 shares with par value of HK$1 per share to its sole shareholder Ms. Yanhua Xing.

Harbin Jiarun Hospital Co., Ltd (“Jiarun”) was a privately held, for-profit hospital, incorporated in Harbin city of Heilongjiang, China in February 2006. Jiarun is a private hospital serving patients on a municipal and county level and providing both Western and Chinese medical practices to the residents of Harbin. After a series of share exchanges mentioned here after in note 1, Jiarun became a 70% owned subsidiary of the Company.

JHCC, JHCL, Runteng and Jiarun are collectively referred as the “Group”.

Reorganization

On December 23, 2012, in accordance with the "Foreign Investment Enterprise Law" under the People’s Republic of China (“PRC”), Runteng and Jiarun entered into an agreement that Runteng and the original owner of Jiarun, Junsheng Zhang should invest a total of RMB50,000,000 ($7,936,508), in which Runteng and the original owner should contribute RMB35,000,000 ($5,555,556) or 70% and RMB15,000,000 ($2,380,952) or 30% of the total capital, respectively. According to the Joint Venture Investment Agreement, Runteng has the obligation to pay RMB35,000,000 ($5,555,556) within five years after the issuance of the joint venture business license. As of December 31, 2017, Jiarun has received $1,831,000 from Runteng.

On March 7, 2013, JHCL acquired all 100 issued and outstanding shares of through share exchanges to obtain 100% controlling interests of Runteng.

On June 1, 2013, Junsheng Zhang, the owner of Jiarun, entered into a supplemental agreement with Runteng for the attribution of accumulated retained earnings of Jiarun. In which, the historical accumulated profit of Jiarun up to June 30, 2013 should be 100% attributed to Junsheng Zhang; the profit generated from Jiarun after July 1, 2013 should be attributed to Runteng and Junsheng Zhang on the basis of 70% and 30%, respectively.

On July 29, 2013, the Joint Venture Investment Agreement between Runteng and Junsheng Zhang has been approved by the Development and Reform Commission of Hulan District, Harbin City and Harbin Investment Promotion Bureau. On the same date, Jiarun has obtained Certificate of Approval for Establishment of Enterprises with Investment of Taiwan, Hong Kong, Macao, and Overseas Chinese in the People’s Republic of China; the Joint Venture prescribe duration of operation of Jiarun is twenty years.

F-5

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 1. DESCRIPTION OF BUSINESS AND ORGANIZATION (CONTINUED)

On October 3, 2013, Ms. Yanhua Xing transferred 23,275 JHCL shares to Mr. Junsheng Zhang, 23,225 JHCL shares to Ms. Chunlan Tang, and 1,050 JHCL shares to Mr. Weiguang Song.

On November 8, 2013, Ms. Chunlan Tang transferred all 23,225 JHCL shares to Mr. Junsheng Zhang, subsequently making Mr. Junsheng Zhang holdings 46,500 JHCL shares.

On December 20, 2013, a share exchange agreement was entered by and among JHCC, JHCL and the shareholders of JHCL, Junsheng Zhang, Yanhua Xing and Weiguang Song. JHCC desires to issue a total of 12,000,000 shares of its Common Stock (the “JHCC Shares”) to the Shareholders of JHCC, pro rata, in exchange for 100% of the JHCL Shares owned by the Shareholders. At the Closing, the Shareholders shall allot and deliver to JHCC a total of 50,000 shares of the ordinary share of JHCL which represents 100% of the issued and outstanding shares of JHCL. JHCL shall become a wholly-owned subsidiary of JHCC, and JHCC will effectively acquire all business and assets of JHCL as now or hereafter existing, including all business and assets of any and all subsidiaries of JHCL, including 70% ownership interest in Jiarun.

On July 8, 2014, Jiarun obtained joint venture business license. Runteng has already completed cooperation restructuring. Up to completion of the legal structures, Jiarun are compliance with the Company Law of People’s Republic of China and all other requirements imposed by PRC authorities.

Before and after the reorganization mentioned above, Junsheng Zhang continued to serve as chairman of Jiarun (the “Operating Subsidiary”), and together with the other management of the Company, continued to direct both day-to-day operation and management of the Operating Subsidiary, as well as its strategic direction. The reorganization effectively resulted in Junsheng Zhang continuing to bear the residual risks and rewards related to the Operating Subsidiary. Because of the reasons described above, the Company is substantively controlled by Junsheng Zhang, and the Company continued to consolidate the Operating subsidiary during the reorganization. And the reorganization transactions are considered as a series of transactions between the parties under common control and did not establish a new basis in the assets and liabilities of the Operating Subsidiary.

During the reorganization, JHCC, JHCL, Runteng and Jiarun were under common control of Junsheng Zhang. Therefore, the reorganization was effectively a legal recapitalization accounted for as transactions between entities under common control at the carry over basis, in a manner similar to pooling-of-interests accounting. The effect of the reorganization was applied retroactively to the prior years’ consolidated financial statements as if the current structure existed since inception.

30% of Jiarun hospital interest held by Junsheng Zhang is subjecting to non-controlling interest (“NCIs”), which was stated under ASC810-10-45, the ownership interest in the subsidiary that are held by owners other than the parent is a non-controlling interest. 70% held by Runteng is applying to its holding Runteng. According to the supplemental agreement signed between Junsheng Zhang and Runteng on June 1, 2013, the comprehensive income from Jiarun would be attributable to retained earnings and non-controlling interest for 70% and 30% respectively, from July 1, 2013.

NOTE 2. SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES

A.	Basis of presentation

The consolidated financial statements have been prepared in accordance with the United States generally accepted accounting principles ("U.S. GAAP").

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. Non-controlling interests represent the equity interest in Jiarun that is not attributable to the Company. Non-controlling interest is reported in the consolidated financial position within equity, separately from the Company’s equity and that net income or loss and comprehensive income or loss are attributable to the Company’s and the non-controlling interest.

F-6

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

C.	Use of estimates

The preparation of audited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ from those estimates. Significant items subject to such estimates and assumptions include valuation allowances for receivables and recoverability of carrying amount and the estimated useful lives of long-lived assets. These estimates are often based on complex judgments and assumptions that management believes to be reasonable but are inherently uncertain and unpredictable. Actual results could differ from these estimates.

Functional currency and foreign currency translation

JHCC and JHCL’s functional currency is the United States dollar (“US$”). Runteng’s functional currency is the Hong Kong dollar (“HK$”). The functional currency of Jiarun is the Renminbi (“RMB”).

The Company’s reporting currency is US$. Assets and liabilities of Runteng and Jiarun are translated at the current exchange rate at the balance sheet dates, revenues and expenses are translated at the average exchange rates during the reporting periods, and equity accounts are translated at historical rates. Translation adjustments are reported in other comprehensive income.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company has a diversified customer base. The majority of sales are either cash receipt in advance or cash receipt upon delivery. For three months ended March 31, 2018 and 2017, no customer accounted for more than 10% of net revenue. As of March 31, 2018, and December 31, 2017, 3 and 2 customer accounted for more than 5% of net accounts receivable, respectively. For those credit sales, the Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited.

F.	Cash and cash equivalents

Cash and cash equivalents include all cash, deposits in banks and other liquid investments with initial maturities of three months or less.

Accounts receivable

Accounts receivable are recorded at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Inventories

Inventories, consisting principally of medicines, are stated at the lower of cost or market using the first-in, first-out method (“FIFO”). This policy requires the Company to make estimates regarding the market value of inventory, including an assessment of excess or obsolete inventory. The Company determines excess or obsolete inventory based on an estimate of the future demand and estimated selling prices for its products.

F-7

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

Construction in progress

Construction in progress represents the new hospital painting and decoration costs. And all direct costs relating to the polishing and decoration are capitalized as construction in progress. No depreciation is provided in respect of construction in progress.

Property and equipment

Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to operations when incurred, while additions and betterments are capitalized. Depreciation is recorded on a straight-line basis reflective of the useful lives of the assets. When assets are retired or disposed, the asset’s original cost and related accumulated depreciation are eliminated from accounts and any gain or loss is reflected in income.

Buildings and improvement	10-40 years
Medical equipment	5-15 years
Transportation instrument	5-10 years
Office equipment	5-10 years
Electronic equipment	5-10 years
Software	5-10 years

Leases

Operating lease

Leases where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Minimum lease payments, including scheduled rent increases, made under operating leases are charged to the consolidated statements of operations and other comprehensive income (loss) on a straight-line basis over the lease term. Contingent rentals are excluded from minimum lease payments and are recognized as expense when the achievement of the specified target is considered probable.

Capital lease

Leases which substantially transfer all of the benefits and risks inherent in ownership to the lessee are classified as capital leases. In a capital lease, assets and liabilities are recorded at the amount of the lesser of (a) the fair value of the leased asset at the inception of the lease or (b) the present value of the minimum lease payments (excluding executing costs) over the lease term. Recorded assets are depreciated over their estimated useful lives. During the lease term, each minimum lease payment is allocated between a reduction of the obligation and interest expense to produce a constant periodic rate of interest on the remaining balance of the obligation. Leasehold improvements are depreciated over the depreciable lives of the corresponding fixed asset or the related lease term, whichever is shorter.

F-8

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

Fair Value Measurement

The Company applies the provisions of ASC Subtopic 820-10, Fair Value Measurements, for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements. ASC 820 also establishes a framework for measuring fair value and expands disclosures about fair value measurements.

Fair value is defined as the price that would be received when selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value for the assets and liabilities required or permitted to be recorded, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

ASC 820 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes three levels of inputs that may be used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices in markets that are not active, or inputs that is observable, either directly or indirectly, for substantially the full term of the asset or liability;

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

There were no transfers between level 1, level 2 or level 3 measurements for three months ended March 31, 2018 and 2017.

Cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are reflected in the accompanying consolidated financial statements at amounts that approximate fair value because of the short-term nature of these instruments. The fair value of the Company’s capital lease obligations also approximates carrying value as they bear interest at current market rates.

Segment and geographic information

The Company is operating in one segment in accordance with the accounting guidance FASB ASC topic 280, “Segment Reporting”. The company’s revenues are from customers in People’s Republic of China (“PRC”). All assets of the company are located in PRC.

F-9

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

N.	Revenue recognition

The Company recognizes revenue when the amount of revenue can be reliably measured, it is probable that economic benefits will flow to the entity and specific criteria have been met for each of the Company’s activities as described below.

Medicine sales

Revenue from the sale of medicine is recognized when it is both earned and realized. The Company’s policy is to recognize the sale of medicine when the title of the medicine, ownership and risk of loss have transferred to the purchasers, and collection of the sales proceeds is reasonably assured, all of which generally occur when the patient receives the medicine.

Given the nature of this revenue source of the Company’s business and the applicable rules guiding revenue recognition, the revenue recognition practices for the sale of medicine do not contain estimates that materially affect results of operations nor any policy for return of products.

Patient Services

In accordance with the medical licenses of Jiarun, the approved medical patient service scope of the Company include medical consulting, surgery, obstetrics and gynecology, pediatrics, anesthesia, clinic laboratory, medical imaging, and traditional Chinese medicine, etc.

Patient service revenue is recognized when it is both earned and realized. The Company’s policy is to recognize patient service revenue when the medical service has been provided to the patient and collection of the revenue is reasonably assured.

The Company provides services to both patients covered by social insurance and patients who are not covered by social insurance. The Company charges the same rates for patient services regardless of the coverage by social insurance.

Patients who are not covered by social insurance are liable for the total cost of medical treatment.

For out-patient medical services, revenue is recognized when the Company provides medical service to the patient. The Company collects payment when the patient checks out from the hospital, which is the same day the services are provided.

For in-patient medical services, the Company estimates the approximate fee the patients will spend in the hospital based on patients’ symptom. This is when the patients check in to the hospital. At that time, the Company collects the estimated fees from the patient and records the payment as deposits received.

During the in-patient services period, the Company recognizes revenue when the patient service is provided and deducts the cost of service from the deposit received. The Company records these transactions based on daily reports generated by the respective medical department. When medical services exceed patient deposits received the Company records revenue and accounts receivable when the patient services are provided.

When patients check out from the hospital, the Company calculates and determines the remaining deposit, if any, and refunds the unused portion of the deposit to the patients. In the case where the patients have a balance in accounts receivable during the in-patient period, accounts receivable are required to be paid in full at checkout.

Patients covered by social insurance will receive a portion or full medical services reimbursed or paid by the social insurance agencies via prepaid cards or insurance claim settlement process.

Settlement process

The Company is a registered medical service vendor under the state social insurance system for various social insurance agencies; the insurance agencies include “Social Medical Insurance funded by PRC and Heilongjiang Province” and “Heilongjiang Province New Rural Cooperative Medical Care System”. The Company utilizes an online system maintained by the social insurance agencies for patients’ who are covered by social insurance agencies.

The Company records patients’ information in the social insurance system at check in. The system determines the covered portion and amounts based on the information input to the system.

At the time of check out, the Company collects payment for services the patients are liable for and records accounts receivable from the social insurance agencies for the portion of services covered by the social insurances. In the case that the patients have made payment during the in-patient services period, the Company refunds any amount in excess of the portion they are liable for.

The Company is responsible for submitting supporting documents of patient services provided to the social insurance agencies for their review. The Company also requires reconciling its records with the social insurance agencies once a month. Once the social insurance agencies approve the reconciliation, the insurance agencies will settle the accounts receivable balance in the next month following the approval.

F-10

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

O.	Income taxes

The Company adopts FASB ASC Topic 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

In July 2006, the FASB issued FIN 48(ASC 740-10), Accounting for Uncertainty in Income Taxes-An Interpretation of FASB Statement No. 109 (ASC 740), which requires income tax positions to meet a more-likely-than-not recognition threshold to be recognized in the financial statements. Under FIN 48(ASC 740-10), tax positions that previously failed to meet the more-likely-than-not threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met.

The application of tax laws and regulations is subject to legal and factual interpretation, judgment and uncertainty. Tax laws and regulations themselves are subject to change as a result of changes in fiscal policy, changes in legislation, the evolution of regulations and court rulings. Therefore, the actual liability may be materially different from our estimates, which could result in the need to record additional tax liabilities or potentially reverse previously recorded tax liabilities or deferred tax asset valuation allowance.

As a result of the implementation of FIN 48 (ASC 740-10), the company made a comprehensive review of its portfolio of tax positions in accordance with recognition standards established by FIN 48 (ASC 740-10). The Company recognized no material adjustments to liabilities or shareholder’s equity as a result of the implementation. The adoption of FIN 48 did not have a material impact on the Company’s unaudited consolidated financial statements.

Enterprise income tax is defined under the Provisional Regulations of PRC Concerning Income Tax on Enterprises promulgated by the PRC, income tax is payable by enterprises at a rate of 25% of their taxable income.

Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.

Jiarun was incorporated in accordance with the law of medical and health institutions, mainly provide medical services, with the "PRC Business Tax Tentative Regulations" Article 8 (3) medical service income tax-free provisions (hospital, clinics and other medical institutions to provide medical services shall be exempt from business tax). The Company's medical services have been exempted from business tax since March 1, 2006.

In considering the achievement of the hospital, it could not have been done without the support of local authorities, Jiarun hospital has voluntarily paid income tax of $581 and $919 for the three months ended March 31, 2018 and 2017, respectively to support the local tax bureau’s economical obligations.

F-11

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

P.	Earnings per share

Basic earnings per common share is computed by using net income divided by the weighted average number of shares of common stock outstanding for the periods presented. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding for the periods presented.

Reclassification

The comparative figures have been reclassified to conform to current year presentation.

Recently accounting pronouncements

In January 2017, the FASB issued Accounting Standards Board Update No. 2017-01: Business Combinations (Topic 805) - Clarifying the Definition of a Business (“ASU 2017-01”). The ASU clarifies the definition of business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 will be effective for the Company’s fiscal year beginning January 1, 2018 and subsequent interim periods with prospective application with impacts on the Company’s consolidated financial statements that may vary depending on each specific acquisition. Early adoption is conditionally permitted.

In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities. Under current GAAP, entities normally amortize the premium as an adjustment of yield over the contractual life of the instrument. This guidance shortens the amortization period for certain callable debt securities held at a premium to the earliest call date. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation: (Topic 718): Scope of Modification Accounting. ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This pronouncement is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. We expect to adopt the new standard using the full retrospective application, and we do not believe the adoption will have a significant impact on our recognition of net revenues or related disclosures for any period.

In July 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815) (“ASU 2017-11”). The update changes the classification of certain equity-linked financial instruments (or embedded features) with down round features. The update also clarifies existing disclosure requirements for equity-classified instruments. The update is effective retrospectively for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted for all companies in any interim or annual period.

We do not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the consolidated financial position, statements of operations and cash flows.

Recently Adopted Accounting Pronouncements

The FASB issued an Accounting Standards Update (ASU) that helps organizations address certain stranded income tax effects in accumulated other comprehensive income (AOCI) resulting from the Tax Cuts and Jobs Act.

ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, provides financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded.

The ASU requires financial statement preparers to disclose:

•

A description of the accounting policy for releasing income tax effects from AOCI;

•

Whether they elect to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and

•

Information about the other income tax effects that are reclassified.

The amendments affect any organization that is required to apply the provisions of Topic 220, Income Statement—Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP.

The amendments are effective for all organizations for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Organizations should apply the proposed amendments either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized.

F-12

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 3. Accounts Receivable, Net

	March 31		December 31
	2018		2017
	(Unaudited)
Accounts receivable	$	7,677,439	$	5,704,697
Less: allowance for doubtful debts		26,669		25,740
	$	7,650,770	$	5,678,957

The Company experienced nil bad debts during three months ended March 31, 2018 and 2017.

NOTE 4. Inventories

At March 31, 2018 and December 31, 2017, inventories consist of the following:

	March 31		December 31
	2018		2017
	(Unaudited)
Western medicine	$	734,770	$	662,079
Chinese herbal medicine		21,796		29,499
Medical material		396,445		243,445
Other material		2,438		1,526
	$	1,155,449	$	936,549

NOTE 5. Prepayment

At March 31, 2018 and December 31, 2017 prepayment consists of the following:

	March 31		December 31
	2018		2017
	(Unaudited)
Deposits on medical equipment	$	426,208	$	491,822
Heating fees		17,345		117,188
Others		368,253		291,670
	$	811,806	$	900,680

NOTE 6. Property and Equipment

At March 31, 2018 and December 31, 2017, property and equipment, at cost, consist of:

	March 31,			December 31,
	2018			2017
	(Unaudited)
Transportation equipment	$	942,523		$	871,653
Medical equipment		12,812,488			11,833,334
Electrical equipment		1,552,754			1,496,461
Office equipment and others		325,754			130,524
Buildings		15,944,709			15,389,204
Software		151,516			146,238
Total fixed assets at cost		31,729,744			29,867,414
Accumulated depreciation		(4,236,472	)		(3,715,784	)
Total fixed assets, net	$	27,493,272		$	26,151,630

The Company recorded depreciation expense of $381,849 and $303,001 for the three months ended March 31, 2018 and 2017, respectively.

F-13

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 7. Long term deferred expenses

On May 7, 2015, July 3, 2015 and October 16, 2015, Jiarun entered into three lease agreements to lease medical equipment from Hair Finance Leasing (China) Co., Ltd. (“Hair”), a third party, for a five-year period, in which Jiarun is required to pay consulting fee to Hair for the services provided over the five years. The consulting fee paid but attributable to the current and subsequent accounting periods was accounted for as deferred expenses and long term deferred expenses. The current portion of the prepaid consulting fee was recorded as deferred expenses $71,837 and $69,334 as of March 31, 2018 and December 31, 2017. The long-term deferred expenses were $92,293 and $106,411 as of March 31, 2018 and December 31, 2017.

The Company recorded consulting fee of $17,740 and $16,373 for the three months ended March 31, 2018 and 2017, respectively.

NOTE 8. Capital Lease Obligations and Deposit for Capital Leases

On June 5, 2013, Jiarun entered into a lease agreement to lease hospital building from Harbin Baiyi Real Estate Development Co., Ltd (“the Leasor”), which is owned by Junsheng Zhang, a related party. The Leasing terms consist of principal plus 30 payments. Each payment will be made on an annual basis when RMB7,000,000 per payment will be paid upfront for each leasing period. The first payment was made on September 1, 2014. At the end of the leasing period, a final payment will be made to settle the total leasing amount. Both parties agreed for Jiarun to pay RMB3,000,000 as deposit at the execution of the Leasing agreement, which will be deducted from the final rental settlement. In accordance to accounting principles and treatment, this payment was booked as deposit in our accounts. The Leasor shall return the premium for lease to Jiarun at expiration of this Contract or pledge this deposit as part of rents for the last period or periods in 2043. The lending interest rate was calculated at 6.55%, which is the benchmark interest rate announced from The People’s Bank of China. After the completion of all payments, the ownership of the lease item will be transferred to Jiarun.

The leasing agreement for our hospital building contains the following provisions:

Rental payments of RMB7,000,000 (equivalent to $1,144,913) per year, payable at the beginning of September.

An option allowing the lessor to extend the lease for thirty years beyond the last renewal option exercised by the company.

A guarantee by the company that the lessor will realize $nil, from selling the asset at the expiration of the lease This lease is a capital lease because its term (30 years) exceeds 75% of the building’s estimated economic life. In addition, the present value ($15,185,032) of the minimum lease payments exceeds 90% of the fair value of the building ($15,721,295).

Accumulated annual amounts resulting from applying an interesting rate 6.55% to the balance of the lease obligation at the beginning of each year. The lease obligation is increased by the amount of the prior year’s interest, the amount of the net rental payment at the beginning of each year; and this amount represents the guaranteed residual value at the end of the lease term.

On September 1, 2014, October 22, 2014, March 26, 2015, May 7, 2015, July 3, 2015, October 16, 2015, April 6, 2016 and April 13, 2016 and November 25, 2016 and April 5 2017 Jiarun entered into several lease agreements to lease medical equipment and elevator from three lease finance companies, which are all third parties, for three to five-year periods, in which Jiarun is required to make monthly or quarterly payments toward the leases. The Company was also required to pay deposits up front, which deposits will later be used to offset against the last quarterly payment. The medical equipment and elevator will be transferred to Jiarun upon the completion of the agreement.

These leases have been classified as capital leases. The cost of the medical equipment included in these leases is included in the consolidated balance sheets as property and equipment and construction in progress.

F-14

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 8. Capital Lease Obligations and Deposit for Capital Leases (Continued)

The future minimum lease payments for annual capital lease obligation as of March 31, 2018 are as follows:

Year	Amounts
2018	$	2,194,794
2019		2,366,768
2020		1,229,284
Thereafter		19,828,009
Total	$	25,618,855

The Company recorded finance lease fees of $322,484 and $325,817 for the three months ended March 31, 2018 and 2017, respectively.

NOTE 9. Short-term Bank Loan

	March 31		December 31
	2018		2017
	(Unaudited)
Short- term bank loan	$	-	$	445,647

As of March 31, 2018 and December 31, 2017, the short-term bank loans were $nil and $445,647, respectively. The loans were primarily obtained from Harbin Bank with interest rate of 6.09% per annum, from January 19, 2017 to January 18, 2018, for working capital and capital expenditure purposes. The interest expenses were $2,238 and $3,917 for the three months ended March 31, 2018 and 2017, respectively.

NOTE 10. Non-controlling Interests

Jiarun is the Company’s majority-owned subsidiary which is consolidated in the Company’s financial statements with a non-controlling interest recognized. The Company holds 70% interest of Jiarun as of March 31, 2018 and December 31, 2017.

As of March 31, 2018 and December 31, 2017, NCI in the consolidated balance sheet was $8,196,764 and $7,339,043, respectively. For the three months ended March 31, 2018, the comprehensive income attributable to shareholders’ equity and NCI is $2,003,906 and $857,721 respectively. For the three months ended March 31, 2017, the comprehensive income attributable to shareholders’ equity and NCI is $1,129,904 and $504,713 respectively.

NOTE 11. Revenue

The Company’s revenue consists of medicine sales and patient care revenue.

	Three Months Ended March 31,
	2018		2017
	(Unaudited)		(Unaudited)
Medicine:
Western medicine	$	2,159,439	$	2,013,797
Chinese medicine		433,217		427,059
Herbal medicine		115,390		87,219
Total medicine	$	2,708,046	$	2,528,075

Patient services:
Medical consulting	$	2,091,465	$	1,605,924
Medical treatment		1,981,455		1,370,479
Others		19,111		6,334
Total patient services	$	4,092,031	$	2,982,737

	$	6,800,077	$	5,510,812

F-15

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 12. Income Tax Expense

The Company uses the asset-liability method of accounting for income taxes prescribed by ASC 740 Income Taxes. The Company and its subsidiaries each file their taxes individually.

United States

JHCC is subject to the United States of America Tax law at tax rate of 35%. No provision for the US federal income taxes has been made as the Company had no US taxable income for the periods presented, and its earnings are permanently invested in PRC.

BVI

JHCL was incorporated in the BVI and, under the current laws of the BVI, it is not subject to income tax.

Hong Kong

Runteng was incorporated in Hong Kong and is subject to Hong Kong profits tax. Runteng is subject to Hong Kong taxation on its activities conducted in Hong Kong and income arising in or derived from Hong Kong. The applicable statutory tax rate is 16.5%.

PRC

Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.

In considering the achievement of the hospital, it could not have been done without the support of local authorities, Jiarun has voluntarily paid income tax of $581 and $919 for the three months ended March 31, 2018 and 2017, respectively to support the local tax bureau's economical obligations.

NOTE 13. Related Party Transactions

The following is the list of the related parties to which the Group has transactions with:

(a) Junsheng Zhang, the Chairman of the Company

(b) Harbin Baiyi Real Estate Development Co., Ltd, owned by Junsheng Zhang

(d) Heilongjiang Province Runjia Medical Equipment Company Limited owned by Junsheng Zhang

(e) Jiarun Super Market Co., Ltd. owned by Junsheng Zhang

(f) Harbin Qi-run pharmacy limited owned by Junsheng Zhang

(g) Yanhua Xing and Weiguang Song, the former shareholder of JHCL

Amount due from related parties

Amount due from related parties consisted of the following as of the periods indicated:

Name of related parties	March 31, 2018		December 31, 2017
	(Unaudited)
Harbin Baiyi Real Estate Development Co., Ltd,	$	739,484	$	1,738,710
Junsheng Zhang		46,500		46,500
Yanhua Xing		2,450		2,450
Weiguang Song		1,050		1,050
	$	789,484	$	1,788,710

F-16

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 13. Related Party Transactions (Continued)

Amount due from Baiyi was mainly represented the deposit for the new outpatient building which was constructed by Baiyi. The Company had paid a prepayment approximately $739,484 for decoration for the new outpatient building.

Amount due from Junsheng Zhang, Yanhua Xing and Weiguang Song, who are the prior shareholders of JHCL, was mainly for the paid-in capital to be paid.

Amount due to related parties

Amount due to related parties consisted of the following as of the periods indicated:

	March 31,		December 31,
Name of related parties	2018		2017
	(Unaudited)
Harbin Jiarun Pharmacy Co., Ltd	$	50,548	$	7
Heilongjiang Province Runjia Medical Equipment Co., Ltd		1,089		6,014
Harbin Qi-run pharmacy Co., Ltd		5,067		17,972
Junsheng Zhang		-		50,000
	$	64,704	$	73,993

Amount due to Harbin Jiarun Pharmacy Co., Ltd., Harbin Qi-run pharmacy Co., Ltd and Heilongjiang Province Runjia Medical Equipment Company Limited were mainly for the balance for purchase of medicine and medical material from these four companies.

Amounts due to Junsheng Zhang represented the balance paid by Mr. Zhang for the daily operation of the Company.

Related parties’ transactions

Purchase of medicine and medical material from related parties consisted of the following for the periods indicated:

	For three months ended March 31,
Name of related parties	2018		2017
Harbin Jiarun Pharmacy Co., Ltd	$	57,828	$	57,022
Heilongjiang Province Runjia Medical Equipment Co., Ltd		1,683		-
Harbin Qi-run pharmacy Co., Ltd		1,019		12,887
	$	60,530	$	69,909

Deposits for capital leases and Capital lease obligations

On June 5, 2013, Jiarun entered into a Lease Agreement to lease a new hospital building from Harbin Baiyi Real Estate Development Co., Ltd, which is owned by Junsheng Zhang, a related party. As of March 31, 2018, the company has balance of deposits for capital leases and capital lease obligations of $477,656 and $14,271,606 respectively. As of December 31, 2017, the company has balance of deposits for capital leases and capital lease obligations of $461,014 and $14,632,836 respectively.

F-17

JRSIS HEALTH CARE CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(AMOUNTS IN USD)

NOTE 14. Basic and Diluted Earnings Per Share

Basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares comprise shares issuable upon the exercise of share-based awards, using the treasury stock method. The reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for income from continuing operations is shown as follows:

	Three Months Ended March 31,
	2018		2017
	(Unaudited)		(Unaudited)
Numerator:
Net income available to common stockholders	$	1,419,979	$	1,111,491
Denominator:
Basic and diluted weighted-average number of shares outstanding		14,871,111		13,915,000
Net income per share:
Basic and diluted	$	0.0955	$	0.0799

NOTE 15. Contingencies and Commitment

Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. There was no contingency as of March 31, 2018 and December 31, 2017.

If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed. There was no contingency as of March 31, 2018 and December 31, 2017.

Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed.

In August 2017 JHCC leases office space under non-cancellable operating lease agreements. Under the terms of the lease, JHCC paid approximately $nil in lease deposits, lease expense payments of approximately $36,881 per year. Under terms of the lease agreement, from August 2017, JHCC is committed to lease expense payments of approximately $36,881 per year for 5 years.

This office is used for 2^nd outpatient.

In December 2017 JHCC leases office space under non-cancellable operating lease agreements. Under the terms of the lease, JHCC paid approximately $3,842 in lease deposits, lease expense payments of approximately $68,128 per year. Under terms of the lease agreement, from December 2017, JHCC is committed to lease expense payments of approximately $68,128 per year for 5 years.

This office is used for 1^stBranch Company.

Future annual minimum lease payments, for non-cancellable operating leases are as follows:

Year ending December 31	Amount $
2018		81,732
2019		108,595
2020		115,036
2021		120,048
2022		122,017
		547,428

The company has paid Rentals and leases expense of $26,737 and $nil for three months ended March 31, 2018 and 2017, respectively

NOTE 16. COMMON STOCK

The Company issued 130,000 restrict common stock in cash at a rate of $1 per share for US$130,000 under Regulation S Section 5 for 7 non-US persons during first three months of 2018. This transaction should be deemed exempt for registration under Rule 902(1)(i) in accordance with Regulation S.

NOTE 17. Subsequent Events

From April 1, 2018 to May 14, 2018 there were 10,000 shares of the Company’s common stock issued to 1 shareholders.

As of May 14, 2018, there were 14,975,000 shares of the Company’s common stock issued and outstanding held by 134 shareholders.

The Management of the Company determined that there were no other reportable subsequent events to be disclosed.

F-18

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements and the notes thereto included elsewhere in this Quarterly Report on Form 10-Q, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of such financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. On an ongoing basis, we evaluate these estimates, including those related to useful lives of real estate assets, bad debts, impairment, contingencies and litigation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. There can be no assurance that actual results will not differ from those estimates. The analysis set forth below is provided pursuant to applicable SEC regulations and is not intended to serve as a basis for projections of future events. See “Cautionary Statement Regarding Forward Looking Statements” above.

Overview

Harbin Jiarun Hospital Company Limited (“Jiarun”) was established in Harbin in the Province of Heilongjiang of the People’s Republic of China (“PRC”) by the owner Junsheng Zhang on February 17, 2006.

Jiarun is a private hospital serving patients on a municipal and county level and providing both Western and Chinese medical practices to the residents of Harbin. Jiarun specializes in the areas of Pediatrics, Dermatology, ENT, Traditional Chinese Medicine (TCM), Ophthalmology, Internal Medicine Dentistry, General Surgery, Rehabilitation Science, Gynecology, General Medical Services, etc.

On November 20, 2013, Junsheng Zhang, the officer of Jiarun Hospital established JRSIS Health Care Corporation, a Florida corporation (“JHCC” or the “Company”). On February 25, 2013, the officer of Jiarun Hospital established JRSIS Health Care Limited ("JHCL"), a wholly owned subsidiary of the Company, and On September 17, 2012, the officer of Jiarun Hospital established Runteng Medical Group Co., Ltd (“Runteng”), a wholly owned subsidiary of JHCL. Runteng, a Hong Kong registered Investment Company, holds a 70% ownership interest in Harbin Jiarun Hospital Company Ltd, a Heilongjiang registered company.

On December 20, 2013, the Company acquired 100% of the issued and outstanding capital stock of JRSIS Health Care Limited, a privately held Limited Liability Company registered in the British Virgin Islands for 12,000,000 shares of our common stock. JHCL, through its wholly owned subsidiary, Runteng Medical Group Co., Ltd, holds majority ownership in Jiarun, a company duly incorporated, organized and validly existing under the laws of China. As the parent company, JHCC rely on Jiarun to conduct 100% of our businesses and operations.

We have two sources of patient revenues: in-patient service revenues and out-patient service revenues. In addition to provide services to our patients, we also sell pharmaceutical medicines to our patients. Revenues from such sales are included in either our in-patient service revenues or our out-patient service revenues. Our revenues come from individuals as well as third-party payers, including PRC government programs and insurance providers, under which the hospital is paid based upon local government established charges. Revenue from the sale of medicine is recognized when it is both earned and realized. The Company’s policy is to recognize the sale of medicine when the title of the medicine, ownership and risk of loss have transferred to the purchasers, and collection of the sales proceeds is reasonably assured, all of which generally occur when the patient receives the medicine. Patient service revenue is recognized when it is both earned and realized. The Company’s policy is to recognize patient service revenue when the medical service has been provided to the patient and collection of the revenue is reasonably assured.

Plan of Operation

Over the next twelve months, we will concentrate on the following two areas to grow our operations:

●

Capital and Funding – Seek to obtain capital from all available sources to complete our hospital expansion and acquisition targets.

●

Advertising and Marketing – Work with several marketing companies to develop brand identity, marketing materials, and update our web site. Utilize all available marketing venues and public relations opportunities to promote the Company and its medicine and services. In April, 2014, we also bought a mobile clinic to provide free health examinations in the hospital area. Management believes this free service will bring us much higher brand reputation and potential customers locally.

Critical Accounting Policies and Management Estimates

Our discussion and analysis of our financial condition and results of operations relates to our consolidated financial statements, which have been prepared in accordance with the United States generally accepted accounting principles ("U.S. GAAP"). The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation.

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation.

Use of estimates

The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ from those estimates. Significant items subject to such estimates and assumptions include valuation allowances for receivables and recoverability of carrying amount and the estimated useful lives of long-lived assets. These estimates are often based on complex judgments and assumptions that management believes to be reasonable but are inherently uncertain and unpredictable. Actual results could differ from these estimates.

Revenue Recognition

Medicine sales

Revenue from the sale of medicine is recognized when it is both earned and realized. The Company's policy is to recognize the sale of medicine when the title of the medicine, ownership and risk of loss have transferred to the purchasers, and collection of the sales proceeds is reasonably assured, all of which generally occur when the patient receives the medicine.

Given the nature of this revenue source of the Company's business and the applicable rules guiding revenue recognition, the revenue recognition practices for the sale of medicine do not contain estimates that materially affect results of operations nor any policy for return of products.

Patient Services

In accordance with the medical licenses of Jiarun, the approved medical patient service scope of the Company includes medical consulting, surgery, obstetrics and gynecology, pediatrics, anesthesia, clinic laboratory, medical imaging, and traditional Chinese medicine, etc.

Patient service revenue is recognized when it is both earned and realized. The Company's policy is to recognize patient service revenue when the medical service has been provided to the patient and collection of the revenue is reasonably assured.

Patients who are not covered by social insurance are liable for the total cost of medical treatment.

For in-patient medical services, the Company estimates the approximate fee the patients will spend in the hospital based on patients' symptom. This is when the patients check in to the hospital. At that time, the Company collects the estimated fees from the patient and records the payment as deposits received.

Patients covered by social insurance will receive a portion or full medical services reimbursed or paid by the social insurance agencies via prepaid cards or insurance claim settlement process.

Settlement process

The Company records patients’ information in the social insurance system at check in. The system determines the covered portion and amounts based on the information input to the system.

Income Taxes and Uncertain Tax Positions

The Company adopts FASB ASC Topic 740, "Income Taxes," which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC 740-10, “Accounting for Uncertainty in Income Taxes” requires income tax positions to meet a more-likely-than-not recognition threshold to be recognized in the financial statements, tax positions that previously failed to meet the more-likely-than-not threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met.

As a result of the implementation of ASC 740-10, the Company made a comprehensive review of its portfolio of tax positions in accordance with recognition standards established by ASC 740-10. The Company recognized no material adjustments to liabilities or shareholder's equity as a result of the implementation. The adoption of ASC 740-10 did not have a material impact on the Company's unaudited consolidated financial statements.

Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.

Accounts Receivable

Accounts receivable are recorded at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the Company's existing accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote

Property and equipment

Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to operations when incurred, while additions and betterments are capitalized. Depreciation is recorded on a straight-line basis reflective of the useful lives of the assets. When assets are retired or disposed, the asset's original cost and related accumulated depreciation are eliminated from accounts and any gain or loss is reflected in income.

Buildings and improvement		10-40 years
Medical equipment		5-15 years
Transportation instrument		5-10 years
Office equipment		5-10 years
Electronic equipment		5-10 years
Software		5-10 years

Foreign currency transactions and translations

JHCC and JHCL’s functional currency is the United States dollar ("US$"). Runteng's functional currency is the Hong Kong dollar ("HK$"). The functional currency of Jiarun is the Renminbi ("RMB").

Results of Operations for Three Months Ended March 31, 2018 and 2017

The following table shows key components of the results of operations during three months ended March 31, 2018 and 2017:

	Three Months Ended March 31,						Change
	2018			2017			$			%

Revenue:
Medicine	$	2,708,046		$	2,528,075		$	179,971			7	%
Patient services		4,092,031			2,982,737			1,109,294			37	%
Total revenue		6,800,077			5,510,812			1,289,265			23	%
Operating costs and expenses:
Cost of medicine sold		1,824,465			1,650,466			173,999			11	%
Medical consumables		780,272			558,302			221,970			40	%
Salaries and benefits		1,027,089			814,366			212,723			26	%
Office supplies		210,500			119,302			91,198			76	%
Vehicle expenses		31,009			21,480			9,529			44	%
Utilities expenses		178,979			147,887			31,092			21	%
Rentals and leases		26,737			-			26,737			100	%
Advertising and promotion expenses		45			614			(569	)		(93	%)
Interest expense		306,004			289,939			16,065			6	%
Professional fee		-			13,762			(13,762	)		(100	%)
Depreciation		381,849			303,001			78,848			26	%
Total operating costs and expenses		4,766,949			3,919,119			847,830			22	%
Earnings from operations before other income and income taxes		2,033,128			1,591,693			441,435			28	%
Other (expenses) income		(4,006	)		(2,930	)		1,076			37	%
Earnings from operations before income taxes		2,029,122			1,588,763			440,359			28	%
Income tax		581			919			(338	)		(37	%)
Net income		2,028,541			1,587,844			440,697			28	%
Less: net income attributable to non-controlling interests		608,562			476,353			132,209			28	%
Net income attributable to the Company	$	1,419,979		$	1,111,491		$	308,488			28	%
Comprehensive income:
Foreign currency translation adjustment attributable to non-controlling interests		249,159			28,360			220,799			779	%
Foreign currency translation adjustment attributable to the Company		583,927			18,413			565,514			3071	%
Comprehensive income	$	2,861,627		$	1,634,617		$	1,227,010			75	%

Revenue

Operating revenue for the three months ended March 31, 2018, which resulted primarily from medicine revenue and patient services revenue, was $6,800,077, an increase of 23% as compared with the operating revenue of $5,510,812 for the three months ended March 31, 2017. The increase was primarily a result of the number of treated inpatients growing to 4,862 patients, about 464 more than the 4,398 patients treated in three months ended March 31, 2017.

Costs and Expenses

Total costs and expenses were $4,766,949 for the three months ended March 31, 2018, an increase of $847,830 or 22% as compared to $3,919,119 for the same period of 2017. This increase was primarily due to significant increase of cost of medicine sold of $173,999, office supplies of $91,198, medical consumables of $221,970, salaries and benefits of $212,723 and depreciation of $78,848.

Cost of medicine sold

Cost of medicine sold mainly consists of cost of Western medicine, Chinese medicine and herbal medicine. Total cost of medicine sold was $1,824,465 for the three months ended March 31, 2018, an increase of $173,999 or 11% as compared to $1,650,466 for the same period of 2017.This increase was primarily due to significant increases in sales of Western medicine and Chinese medicine. For the three months ended March 31, 2018, the cost of Western medicine and Chinese medicine were $1,760,312, as compared to $1,608,322 for the same period of 2017.

Medical consumables

Medical consumables mainly consist of materials expenses, medical film expenses and test reagent. Total medical consumables were $780,272 for the three months ended March 31, 2018, an increase of $221,970 or 40% as compared to $558,302 for the same period of 2017.The increase was mainly a result of increase in materials expenses of $132,670.

Salaries and benefits

Salaries and benefits mainly consist of salary expenses, and social insurance expenses. Total salaries and benefits were $1,027,089 for the three months ended March 31, 2018, an increase of $212,723 or 26% as compared to$814,366 for the same period of 2017. The increase was mainly a result of increase in salary expenses of $108,933 and increase in social insurance expenses of $22,521. The number of employees was 582, an increase of 25 as compared to 557 for the same period of 2017.

Income Taxes

Enterprise income tax is defined under the Provisional Regulations of PRC Concerning Income Tax on Enterprises promulgated by the PRC. Income tax is payable by enterprises at a rate of 25% of their taxable income.

Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.

Jiarun was incorporated in accordance with the law of medical and health institutions to mainly provide medical services, with the "PRC Business Tax Tentative Regulations" Article 8 (3) medical service income tax-free provisions (hospital, clinics and other medical institutions to provide medical services shall be exempt from business tax). The Company's medical services have been exempted from business tax since March 1, 2006.

In considering the achievements of the hospital, they could not have been reached without the support of local authorities. Jiarun hospital has voluntarily paid income tax of $581 and $919 for the three months ended March 31, 2018 and 2017, respectively to support the local tax bureau's economical obligations.

Income from Operations and Net income

Income from Operations was $2,033,128 for the three months ended March 31, 2018, as compared with operating income of $1,591,693 for the three months ended March 31, 2017.The Company’s net income for the three months ended March 31, 2018 was $2,028,541 representing an increase of $440,697 or 28 %, over $1,587,844 for the three months ended March 31, 2017. The increases in income from operations and net income for the three months ended March 31, 2018 were primarily due to aforementioned changes in operating revenue and operating expenses

Liquidity and Capital Resources

The accompanying financial statements have been prepared for the company to continue as a going concern which contemplates, among other things, the realization of assets and satisfaction of liabilities in the ordinary course of business.

As of March 31, 2018, the Company had $1,200,438 of cash and cash equivalents.

We are presently able to meet our obligations as they come due. As of March 31, 2018, we had non-controlling interest of $8,196,764 and shareholders’ equity of $15,027,666.

We anticipate that our future liquidity requirements will arise from the need to fund our growth, pay current obligations and future capital expenditures. The primary sources of funding for such requirements are expected to be cash generated from operations and raising additional funds from the public offering and/or debt financing. However, we can provide no assurances that we will be able to generate sufficient cash flow from operations and/or obtain additional financing on terms satisfactory to us, if at all, to remain a going concern.

Cash Flows and Capital Resources

We believe that we will generate cash flow from our business, which, along with our available cash, will provide sufficient liquidity and financial flexibility. Our cash flows are summarized below:

	Three Months Ended March 31,
	2018			2017
Net cash provided by operating activities		2,440,264			215,967
Net cash used in investing activities		(1,213,590	)		(591,799	)
Net cash used in financing activities		(1,018,256	)		(272,425	)
Effect of exchange rate fluctuation on cash and cash equivalents		107,728			2,982
Net increase (decrease) in cash and cash equivalents		316,146			(645,275	)
Cash and cash equivalents, beginning of period		884,292			890,662
Cash and cash equivalents, ending of period	$	1,200,438		$	245,387

Net Cash provided by Operating Activities

For the three months ended March 31, 2018, we had positive cash flow from operating activities of $2,440,264, an increase of $2,224,297 from the same period of 2017, during which we had cash flow from operating activities of $215,967. The net income for the three months ended March 31, 2017 increased by $440,696 as compared to the three months ended March 31, 2017. The increase in net cash provided by operating activities was mainly as a result of the cash flow in amounts due from related parties items totaling $1,049,041, which was due to the decrease in the deposit and the prepayment for decoration for the new outpatient building.

Net Cash Used in Investing Activities

Net cash used in investing activities for the three months ended March 31, 2018 was $1,213,590, compared to net cash used in investing activities of $591,799 for the three months ended March 31, 2017. The cash used in investing activities for the three months ended March 31, 2018 was mainly used for the purchase of medical equipment.

Net Cash Provided by Financing Activities

Net cash used in financing activities for the three months ended March 31, 2018 was $1,018,256, as compared to net cash used in financing activities of $272,425 for the three months ended March 31, 2017. The cash used in financing activities for the three months ended March 31, 2018 was mainly payments on capital lease obligation of $694,479 and payments on short-term bank loan of $458,342.

Trends, Events and Uncertainties

The China Ministry of Health, as well as other related agencies, may change the prices we can charge for medical services, drugs and medications. We cannot predict the impact of these proposed changes since the changes are not fully defined and we do not know whether such changes will ever be implemented or when they may take effect.

In December 2014, our operations moved into the new building. We have finished most of the decoration of the new building, and part of the expansion of medical facilities and purchases of new medical equipment. The hospital will need more medical facilities to update the medical equipment and acquire one pharmaceuticals wholesale and one medicine retail company. The new hospital building is being constructed by Harbin Baiyi Real Estate Development Co., Ltd, which is owned by Junsheng Zhang, a related party. The building was leased from the related party by financial leasing. The price of the Leasing Agreement referred to the local market price and audited by the auditor. The Leasing Agreement terms consist of 30 payments. Each payment will be made on an annual basis when 7 million RMB per payment will be paid upfront for each leasing period. The first payment was made on September 1^st, 2014. At the end of the leasing period, a final payment will be made to settle the total leasing amount. Both parties agreed for the leasee to pay 3 million RMB as deposit at the execution of the Leasing Agreement, which will be deducted from the final rental settlement. The lending interest rate was calculated at 6.55%, which is the benchmark interest rate announced from The People’s Bank of China. After the completion of all payments, the ownership of the lease item will be transferred to the Jiarun.

We plan to acquire other hospitals and companies involved in the healthcare industry in the PRC using cash and shares of our common stock. Substantial capital may be needed for these acquisitions and we may need to raise additional funds through the sale of our common stock, debt financing or other arrangements. We do not have any commitments or arrangements from any person to provide us with any additional capital. Additional capital may not be available to us, or if available, on acceptable terms, in which case we would not be able to acquire other hospitals or businesses in the healthcare industry.

Other than the factors listed above we do not know of any trends, events or uncertainties that have had or are reasonably expected to have a material impact on our net sales or revenues or income from continuing operations. Our business is not seasonal in nature.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet items reasonably likely to have a material effect on our financial condition.

Recent Accounting Pronouncements

Recent accounting pronouncements issued by the FASB, the AICPA and the SEC did not, or are not believed by management to, have a material effect on the Company’s present or future consolidated financial statements.

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a “smaller reporting company”, we are not required to provide the information required by this Item.

ITEM 4.

CONTROLS AND PROCEDURES

Evaluations of Disclosure Controls and Procedures

Under the supervision and with the participation of our management team, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended, as of December 31, 2004. Based on this evaluation, we concluded that our disclosure controls and procedures are effective in timely alerting them to material information required to be included in our periodic reports.

Changes in Internal Control over Financial Reporting

During the period covered by this report, there has been no change in our internal control over financial reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1.

LEGAL PROCEEDINGS.

The Company has no knowledge of existing or pending legal proceedings against the Company, nor is the Company involved as a plaintiff in any proceeding or pending litigation. There are no proceedings in which any of the Company’s directors, officers or any of their respective affiliates, or any beneficial stockholder, is an adverse party or has a material interest adverse to our interest.

ITEM 1A.

RISK FACTORS

As a “smaller reporting company”, we are not required to provide the information required by this Item.

ITEM 2.

UNREGISTERED SALE OF EQUITY SECURITIES AND USE OF PROCEEDS

From January 1, 2018 to May 14, 2018, the Company issued 140,000 restrict common stock in cash at a rate of $1 per share for US$140,000 under Regulation S Section 5 for 7 non-US persons. This transaction should be deemed exempt for registration under Rule 902(1)(i) in accordance with Regulation S.

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES

Not applicable

ITEM 4.

MINE SAFETY DISCLOSURES

Not applicable

ITEM 5.

EXHIBITS

INDEX TO EXHIBITS

Exhibit		Description
31.1		Certification of Chief Executive Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2		Certification of Chief Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Label Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

JRSIS HEALTH CARE CORPORATION. (Registrant)

Signature	Title	Date

/s/ Lihua. Sun	Chief Executive Officer	May 14, 2018
Lihua. Sun	(Principal Executive Officer)

/s/ Xuewei. Zhang	Chief Financial Officer	May 14, 2018
Xuewei. Zhang	(Principal Financial Officer)

EX-31.1 2 tv493736_ex31-1.htm EXHIBIT 31.1

EXHIBIT 31.1

Certification of Principal Executive Officer

Section 302 Certification

I, Lihua. Sun, certify that:

1. I have reviewed this quarterly report on Form 10-Q for JRSIS HEALTH CARE CORPORATION.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and the internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:

May 14, 2018

/s/ Lihua. Sun

Lihua. Sun, Chief Executive Officer

(Principal Executive Officer)

EX-31.2 3 tv493736_ex31-2.htm EXHIBIT 31.2

EXHIBIT 31.2

Certification of Principal Financial Officer

Section 302 Certification

I, Xuewei. Zhang, certify that:

1. I have reviewed this quarterly report on Form 10-Q of JRSIS HEALTH CARE CORPORATION;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:

May 14, 2018

/s/ Xuewei. Zhang

Xuewei. Zhang, Chief Executive Officer

(Principal Financial Officer)

EX-32.1 4 tv493736_ex32-1.htm EXHIBIT 32.1

EXHIBIT 32.1

CERTIFICATIONS PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of JRSIS HEALTH CARE CORPORATION. (the “Company”) on Form 10-Q for the quarter ended March 31, 2018, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lihua. Sun, as Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

By:

/s/ Lihua. Sun

Dated:

May 14, 2018

Lihua. Sun

Title:

Chief Executive Officer

(Principal Executive Officer)

This certification is being furnished to the SEC as an exhibit to the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the of the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

A signed copy of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2 5 tv493736_ex32-2.htm EXHIBIT 32.2

EXHIBIT 32.2

CERTIFICATIONS PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of JRSIS HEALTH CARE CORPORATION. (the “Company”) on Form 10-Q for the quarter ended March 31, 2018, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Xuewei. Zhang, as Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

By:

/s/ Xuewei. Zhang

Dated:

May 14, 2018

Xuewei. Zhang

Title:

Chief Financial Officer

(Principal Financial Officer)

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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"><b>NOTE 2. SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>A.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Basis of presentation</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The consolidated financial statements have been prepared in accordance with the United States generally accepted accounting principles ("U.S. GAAP").<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>B.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Principles of consolidation</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. Non-controlling interests represent the equity interest in Jiarun that is not attributable to the Company. Non-controlling interest is reported in the consolidated financial position within equity, separately from the Company’s equity and that net income or loss and comprehensive income or loss are attributable to the Company’s and the non-controlling interest.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 30pt; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>C.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Use of estimates</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The preparation of audited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ from those estimates. Significant items subject to such estimates and assumptions include valuation allowances for receivables and recoverability of carrying amount and the estimated useful lives of long-lived assets. These estimates are often based on complex judgments and assumptions that management believes to be reasonable but are inherently uncertain and unpredictable. Actual results could differ from these estimates.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>D.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Functional currency and foreign currency translation</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">JHCC and JHCL’s functional currency is the United States dollar (“US$”). Runteng’s functional currency is the Hong Kong dollar (“HK$”). The functional currency of Jiarun is the Renminbi (“RMB”).</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The Company’s reporting currency is US$. Assets and liabilities of Runteng and Jiarun are translated at the current exchange rate at the balance sheet dates, revenues and expenses are translated at the average exchange rates during the reporting periods, and equity accounts are translated at historical rates. Translation adjustments are reported in other comprehensive income.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>E.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Concentration of Credit Risk</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from its normal business activities. The Company places its cash in what it believes to be credit-worthy financial institutions. The Company has a diversified customer base. The majority of sales are either cash receipt in advance or cash receipt upon delivery. For three months ended March 31, 2018 and 2017, no customer accounted for more than <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font></font>% of net revenue. As of March 31, 2018, and December 31, 2017, 3 and 2 customer accounted for more than <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5</font></font>% of net accounts receivable, respectively. For those credit sales, the Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>F.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Cash and cash equivalents</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Cash and cash equivalents include all cash, deposits in banks and other liquid investments with initial maturities of three months or less.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>G.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Accounts receivable</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Accounts receivable are recorded at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>H.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Inventories</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Inventories, consisting principally of medicines, are stated at the lower of cost or market using the first-in, first-out method (“FIFO”). This policy requires the Company to make estimates regarding the market value of inventory, including an assessment of excess or obsolete inventory. The Company determines excess or obsolete inventory based on an estimate of the future demand and estimated selling prices for its products.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> <b> </b></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>I.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Construction in progress</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Construction in progress represents the new hospital painting and decoration costs. And all direct costs relating to the polishing and decoration are capitalized as construction in progress. No depreciation is provided in respect of construction in progress.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>J.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Property and equipment</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Property and equipment are stated at cost. Expenditures for maintenance and repairs are charged to operations when incurred, while additions and betterments are capitalized. Depreciation is recorded on a straight-line basis reflective of the useful lives of the assets. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>When assets are retired or disposed, the asset’s original cost and related accumulated depreciation are eliminated from accounts and any gain or loss is reflected in income.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 95%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 48px; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: justify; WIDTH: 40%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> Buildings and improvement</font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 60%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font>-<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">40</font> years</font></font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> Medical equipment</font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5</font>-<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">15</font> years</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> Transportation instrument</font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5</font>-<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10</font> years</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> Office equipment</font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5</font>-<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10</font> years</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> Electronic equipment</font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5</font>-<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10</font> years</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> Software</font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 5</font>-<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10</font> years<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </td> </tr> </table> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="center"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>K.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Leases</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"><u>Operating lease</u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Leases where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Minimum lease payments, including scheduled rent increases, made under operating leases are charged to the consolidated statements of operations and other comprehensive income (loss) on a straight-line basis over the lease term. Contingent rentals are excluded from minimum lease payments and are recognized as expense when the achievement of the specified target is considered probable.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"><u>Capital lease</u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Leases which substantially transfer all of the benefits and risks inherent in ownership to the lessee are classified as capital leases. In a capital lease, assets and liabilities are recorded at the amount of the lesser of (a) the fair value of the leased asset at the inception of the lease or (b) the present value of the minimum lease payments (excluding executing costs) over the lease term. Recorded assets are depreciated over their estimated useful lives. During the lease term, each minimum lease payment is allocated between a reduction of the obligation and interest expense to produce a constant periodic rate of interest on the remaining balance of the obligation. Leasehold improvements are depreciated over the depreciable lives of the corresponding fixed asset or the related lease term, whichever is shorter.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> <b> </b></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>L.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Fair Value Measurement</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The Company applies the provisions of ASC Subtopic 820-10, Fair Value Measurements, for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements. ASC 820 also establishes a framework for measuring fair value and expands disclosures about fair value measurements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Fair value is defined as the price that would be received when selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the fair value for the assets and liabilities required or permitted to be recorded, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">ASC 820 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes three levels of inputs that may be used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 22.5pt; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 22.5pt; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 22.5pt; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Level 2: Quoted prices in markets that are not active, or inputs that is observable, either directly or indirectly, for substantially the full term of the asset or liability;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px 0pt 22.5pt; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">There were no transfers between level 1, level 2 or level 3 measurements for three months ended March 31, 2018 and 2017.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 20pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are reflected in the accompanying consolidated financial statements at amounts that approximate fair value because of the short-term nature of these instruments. The fair value of the Company’s capital lease obligations also approximates carrying value as they bear interest at current market rates.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>M.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Segment and geographic information</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The Company is operating in one segment in accordance with the accounting guidance FASB ASC topic 280, “Segment Reporting”. The company’s revenues are from customers in People’s Republic of China (“PRC”). All assets of the company are located in PRC.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="center"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>N.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Revenue recognition</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The Company recognizes revenue when the amount of revenue can be reliably measured, it is probable that economic benefits will flow to the entity and specific criteria have been met for each of the Company’s activities as described below.</div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><i><u>Medicine sales</u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Revenue from the sale of medicine is recognized when it is both earned and realized. The Company’s policy is to recognize the sale of medicine when the title of the medicine, ownership and risk of loss have transferred to the purchasers, and collection of the sales proceeds is reasonably assured, all of which generally occur when the patient receives the medicine.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Given the nature of this revenue source of the Company’s business and the applicable rules guiding revenue recognition, the revenue recognition practices for the sale of medicine do not contain estimates that materially affect results of operations nor any policy for return of products.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"><i> </i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><i><u>Patient Services</u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In accordance with the medical licenses of Jiarun, the approved medical patient service scope of the Company include medical consulting, surgery, obstetrics and gynecology, pediatrics, anesthesia, clinic laboratory, medical imaging, and traditional Chinese medicine, etc.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Patient service revenue is recognized when it is both earned and realized. The Company’s policy is to recognize patient service revenue when the medical service has been provided to the patient and collection of the revenue is reasonably assured.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The Company provides services to both patients covered by social insurance and patients who are not covered by social insurance. The Company charges the same rates for patient services regardless of the coverage by social insurance.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Patients who are not covered by social insurance are liable for the total cost of medical treatment.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 4%"> <div> </div> </td> <td style="TEXT-ALIGN: left; WIDTH: 2%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Symbol"> ⋅</font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 94%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> For out-patient medical services, revenue is recognized when the Company provides medical service to the patient. The Company collects payment when the patient checks out from the hospital, which is the same day the services are provided.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 4%"> <div> </div> </td> <td style="TEXT-ALIGN: left; WIDTH: 2%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Symbol"> ⋅</font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 94%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> For in-patient medical services, the Company estimates the approximate fee the patients will spend in the hospital based on patients’ symptom. This is when the patients check in to the hospital. At that time, the Company collects the estimated fees from the patient and records the payment as deposits received.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">During the in-patient services period, the Company recognizes revenue when the patient service is provided and deducts the cost of service from the deposit received. The Company records these transactions based on daily reports generated by the respective medical department. When medical services exceed patient deposits received the Company records revenue and accounts receivable when the patient services are provided.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">When patients check out from the hospital, the Company calculates and determines the remaining deposit, if any, and refunds the unused portion of the deposit to the patients. In the case where the patients have a balance in accounts receivable during the in-patient period, accounts receivable are required to be paid in full at checkout.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Patients covered by social insurance will receive a portion or full medical services reimbursed or paid by the social insurance agencies via prepaid cards or insurance claim settlement process.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><i> </i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><i><u>Settlement process</u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The Company is a registered medical service vendor under the state social insurance system for various social insurance agencies; the insurance agencies include “Social Medical Insurance funded by PRC and Heilongjiang Province” and “Heilongjiang Province New Rural Cooperative Medical Care System”. The Company utilizes an online system maintained by the social insurance agencies for patients’ who are covered by social insurance agencies.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 4%"> <div> </div> </td> <td style="TEXT-ALIGN: left; WIDTH: 2%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Symbol"> ⋅</font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 94%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> The Company records patients’ information in the social insurance system at check in. The system determines the covered portion and amounts based on the information input to the system.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 4%"> <div> </div> </td> <td style="TEXT-ALIGN: left; WIDTH: 2%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Symbol"> ⋅</font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 94%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> At the time of check out, the Company collects payment for services the patients are liable for and records accounts receivable from the social insurance agencies for the portion of services covered by the social insurances. In the case that the patients have made payment during the in-patient services period, the Company refunds any amount in excess of the portion they are liable for.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 4%"></td> <td style="TEXT-ALIGN: left; WIDTH: 2%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Symbol"> ⋅</font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 94%"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> The Company is responsible for submitting supporting documents of patient services provided to the social insurance agencies for their review. The Company also requires reconciling its records with the social insurance agencies once a month. Once the social insurance agencies approve the reconciliation, the insurance agencies will settle the accounts receivable balance in the next month following the approval.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="left"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>O.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Income taxes</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><i> </i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The Company adopts FASB ASC Topic 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><i> </i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In July 2006, the FASB issued FIN 48(ASC 740-10), Accounting for Uncertainty in Income Taxes-An Interpretation of FASB Statement No. 109 (ASC 740), which requires income tax positions to meet a more-likely-than-not recognition threshold to be recognized in the financial statements. Under FIN 48(ASC 740-10), tax positions that previously failed to meet the more-likely-than-not threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The application of tax laws and regulations is subject to legal and factual interpretation, judgment and uncertainty. Tax laws and regulations themselves are subject to change as a result of changes in fiscal policy, changes in legislation, the evolution of regulations and court rulings. Therefore, the actual liability may be materially different from our estimates, which could result in the need to record additional tax liabilities or potentially reverse previously recorded tax liabilities or deferred tax asset valuation allowance.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">As a result of the implementation of FIN 48 (ASC 740-10), the company made a comprehensive review of its portfolio of tax positions in accordance with recognition standards established by FIN 48 (ASC 740-10). The Company recognized no material adjustments to liabilities or shareholder’s equity as a result of the implementation. The adoption of FIN 48 did not have a material impact on the Company’s unaudited consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Enterprise income tax is defined under the Provisional Regulations of PRC Concerning Income Tax on Enterprises promulgated by the PRC, income tax is payable by enterprises at a rate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 25</font>% of their taxable income.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Jiarun was incorporated in accordance with the law of medical and health institutions, mainly provide medical services, with the "PRC Business Tax Tentative Regulations" Article 8 (3) medical service income tax-free provisions (hospital, clinics and other medical institutions to provide medical services shall be exempt from business tax). The Company's medical services have been exempted from business tax since March 1, 2006.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In considering the achievement of the hospital, it could not have been done without the support of local authorities, Jiarun hospital has voluntarily paid income tax of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">581</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">919</font> for the three months ended March 31, 2018 and 2017, respectively to support the local tax bureau’s economical obligations.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>P.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Earnings per share</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px 0pt 35pt; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">Basic earnings per common share is computed by using net income divided by the weighted average number of shares of common stock outstanding for the periods presented. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding for the periods presented.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Q.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Reclassification</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The comparative figures have been reclassified to conform to current year presentation.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><b> </b></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>R.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Recently accounting pronouncements</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In January 2017, the FASB issued Accounting Standards Board Update No. 2017-01: Business Combinations (Topic 805) - Clarifying the Definition of a Business (“ASU 2017-01”). The ASU clarifies the definition of business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 will be effective for the Company’s fiscal year beginning January 1, 2018 and subsequent interim periods with prospective application with impacts on the Company’s consolidated financial statements that may vary depending on each specific acquisition. Early adoption is conditionally permitted.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In March 2017, the FASB issued ASU No. 2017-08, Receivables  Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities. Under current GAAP, entities normally amortize the premium as an adjustment of yield over the contractual life of the instrument. This guidance shortens the amortization period for certain callable debt securities held at a premium to the earliest call date. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In May 2017, the FASB issued ASU 2017-09, Compensation  Stock Compensation: (Topic 718): Scope of Modification Accounting. ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This pronouncement is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. We expect to adopt the new standard using the full retrospective application, and we do not believe the adoption will have a significant impact on our recognition of net revenues or related disclosures for any period.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In July 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815) (“ASU 2017-11”). The update changes the classification of certain equity-linked financial instruments (or embedded features) with down round features. The update also clarifies existing disclosure requirements for equity-classified instruments. The update is effective retrospectively for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted for all companies in any interim or annual period.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">We do not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the consolidated financial position, statements of operations and cash flows.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><b>Recently Adopted Accounting Pronouncements</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><b> </b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The FASB issued an Accounting Standards Update (ASU) that helps organizations address certain stranded income tax effects in accumulated other comprehensive income (AOCI) resulting from the Tax Cuts and Jobs Act.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">ASU No. 2018-02, Income StatementReporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, provides financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The ASU requires financial statement preparers to disclose:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; COLOR: rgb(13,13,13); BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div>•</div> </td> <td style="TEXT-ALIGN: justify"> <div>A description of the accounting policy for releasing income tax effects from AOCI;</div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; COLOR: rgb(13,13,13); BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div>•</div> </td> <td style="TEXT-ALIGN: justify"> <div>Whether they elect to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and</div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; COLOR: rgb(13,13,13); BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div>•</div> </td> <td style="TEXT-ALIGN: justify"> <div>Information about the other income tax effects that are reclassified.</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The amendments affect any organization that is required to apply the provisions of Topic 220, Income StatementReporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The amendments are effective for all organizations for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Organizations should apply the proposed amendments either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

P10Y

P40Y

P5Y

P15Y

P5Y

P10Y

P5Y

P10Y

P5Y

P10Y

P5Y

P10Y

1144913

10000

14975000

547428

60530

69909

739484

12212307

11320976

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 48px"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>R.</i></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="COLOR: rgb(13,13,13); FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"> <i>Recently accounting pronouncements</i></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In January 2017, the FASB issued Accounting Standards Board Update No. 2017-01: Business Combinations (Topic 805) - Clarifying the Definition of a Business (“ASU 2017-01”). The ASU clarifies the definition of business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 will be effective for the Company’s fiscal year beginning January 1, 2018 and subsequent interim periods with prospective application with impacts on the Company’s consolidated financial statements that may vary depending on each specific acquisition. Early adoption is conditionally permitted.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In March 2017, the FASB issued ASU No. 2017-08, Receivables  Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities. Under current GAAP, entities normally amortize the premium as an adjustment of yield over the contractual life of the instrument. This guidance shortens the amortization period for certain callable debt securities held at a premium to the earliest call date. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In May 2017, the FASB issued ASU 2017-09, Compensation  Stock Compensation: (Topic 718): Scope of Modification Accounting. ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This pronouncement is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. We expect to adopt the new standard using the full retrospective application, and we do not believe the adoption will have a significant impact on our recognition of net revenues or related disclosures for any period.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">In July 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815) (“ASU 2017-11”). The update changes the classification of certain equity-linked financial instruments (or embedded features) with down round features. The update also clarifies existing disclosure requirements for equity-classified instruments. The update is effective retrospectively for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted for all companies in any interim or annual period.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">We do not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the consolidated financial position, statements of operations and cash flows.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><b>Recently Adopted Accounting Pronouncements</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"><b> </b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The FASB issued an Accounting Standards Update (ASU) that helps organizations address certain stranded income tax effects in accumulated other comprehensive income (AOCI) resulting from the Tax Cuts and Jobs Act.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">ASU No. 2018-02, Income StatementReporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, provides financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The ASU requires financial statement preparers to disclose:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; COLOR: rgb(13,13,13); BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div>•</div> </td> <td style="TEXT-ALIGN: justify"> <div>A description of the accounting policy for releasing income tax effects from AOCI;</div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; COLOR: rgb(13,13,13); BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div>•</div> </td> <td style="TEXT-ALIGN: justify"> <div>Whether they elect to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and</div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; COLOR: rgb(13,13,13); BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"> <div>•</div> </td> <td style="TEXT-ALIGN: justify"> <div>Information about the other income tax effects that are reclassified.</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The amendments affect any organization that is required to apply the provisions of Topic 220, Income StatementReporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: rgb(13,13,13); font-size-adjust: none; font-stretch: normal" align="justify">The amendments are effective for all organizations for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Organizations should apply the proposed amendments either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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Property, Plant and Equipment, Policy [Policy Text Block] Property and equipment, Policy [Policy Text Block] Lessee, Leases [Policy Text Block] Fair Value Measurement, Policy [Policy Text Block] Segment Reporting, Policy [Policy Text Block] Segment and geographic information, Policy [Policy Text Block] Revenue Recognition, Policy [Policy Text Block] Income Tax, Policy [Policy Text Block] Income taxes, Policy [Policy Text Block] Earnings Per Share, Policy [Policy Text Block] Property Plant And Equipment Useful Life [Table Text Block] Tabular disclosure of property plant and equipment useful life. Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] Schedule of Inventory, Current [Table Text Block] Schedule Of Prepaid Expenses Current [Table Text Block] Tabular disclosure of prepaid expenses current. Property, Plant and Equipment [Table Text Block] Statement [Line Items] Common Stock, Par or Stated Value Per Share Common Stock, Par or Stated Value Per Share (in dollars per share) Common Stock, Shares Authorized Common Stock, Shares, Issued Common Stock, Shares, Outstanding Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] Schedule of Short-term Debt [Table Text Block] Schedule Of Health Care Organization Revenues [Table Text Block] Schedule of health care organization revenues. Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] Organization, Consolidation and Presentation of Financial Statements [Abstract] Business And Organization [Table] Legal Entity [Axis] Entity [Domain] Jiarun [Member] Subsidiary, Harbin Jiarun Hospital Co., Ltd [Member] Runteng [Member] Subsidiary, JRSIS HEALTH CARE LIMITED [Member] Subsidiary, Runteng Medical Group Co., Ltd [Member] Related Party [Axis] Related Party [Domain] Junsheng Zhang [Member] Junsheng Zhang [Member] Chunlan Tang [Member] Weiguang Song [Member] Equity Components [Axis] Equity Component [Domain] JHCL Shares [Member] Agreement [Axis] Agreement [Domain] Subsequent Event Type [Axis] Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage Joint venture investment in Jiarun, Ownership Percentage in Harbin Jiarun Hospital Co., Ltd Unrecorded Unconditional Purchase Obligation Shares, Outstanding Balance (in shares) Balance (in shares) Common Stock, Capital Shares Reserved for Future Issuance Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners Shares Transferred Under Transaction and Shares Exchange, Shares Shares Transferred Under Transaction and Shares Exchange, Shares It represents the value of shares transferred under transaction and shares exchange, shares. Joint Venture Investment Obligation To Pay Capital Joint Venture Investment Obligation To Pay Capital. Joint Venture Investment Additional Paid Up Capital Joint Venture Investment Additional Paid Up Capital. Variable Interest Entity Accumulated Retained Earnings Percentage Attribution of accumulated retained earnings of Jiarun, Percentage Represents the percentage of receipt of accumulated retained earnings in joint venture investment. Property, Plant and Equipment [Table] Property, Plant and Equipment, Type [Axis] Property, Plant and Equipment, Type [Domain] Building and Building Improvements [Member] Buildings and improvement [Member] Medical Equipment [Member] Medical equipment [Member] Transportation Equipment [Member] Transportation instrument [Member] Transportation equipment [Member] Office Equipment [Member] Office equipment [Member] Office equipment and other [Member] Electrical Equipment [Member] Electronic equipment [Member] Electrical equipment [Member] Software and Software Development Costs [Member] Software [Member] Range [Axis] Range [Domain] Maximum [Member] Maximum [Member] Minimum [Member] Minimum [Member] Property, Plant and Equipment [Line Items] Property, Plant and Equipment, Useful Life Concentration Risk Benchmark [Axis] Concentration Risk Benchmark [Domain] Accounts Receivable [Member] Concentration Risk, Percentage Income Taxes Paid, Net Cash paid for income taxes Effective Income Tax Rate Reconciliation, Percent Schedule of Accounts, Notes, Loans and Financing Receivable [Table] Accounts, Notes, Loans and Financing Receivable [Line Items] Accounts Receivable, Gross, Current Accounts receivable Allowance for Doubtful Accounts Receivable, Current Less: allowance for doubtful debts Inventory, Current [Table] Inventory [Axis] Inventory [Domain] Western Medicine [Member] Western medicine [Member] Chinese Herbal Medicine [Member] Chinese herbal medicine [Member] Inventory [Line Items] Statement of Comprehensive Income [Abstract] Sales Revenue, Goods, Net Medicine Total medicine Sales Revenue, Services, Net Patient services Total patient services Revenue, Net Total revenue Revenue, Net Operating Costs and Expenses [Abstract] Operating costs and expenses: Cost of Goods Sold Cost of medicine sold Cost Of Medical consumables Medical consumables Costs incurred and are directly related to medical consumables during the reporting period. Salaries, Wages and Officers' Compensation Salaries and benefits Supplies Expense Office supplies Shipping, Handling and Transportation Costs Vehicle expenses Utilities Costs Utilities expenses Operating Leases, Rent Expense Rentals and leases Marketing and Advertising Expense Advertising and promotion expenses Interest Expense Interest expense Professional Fees Professional fee Depreciation Depreciation Operating Income (Loss) Earnings from operations before other income and income taxes Other Nonoperating Income (Expense) Other income Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest Earnings from operations before income taxes Income Tax Expense (Benefit) Income tax Net Income (Loss), Including Portion Attributable to Noncontrolling Interest Net income Net income Net Income (Loss) Attributable to Noncontrolling Interest Less: net income attributable to non-controlling interests Net Income (Loss) Attributable to Parent Net income attributable to the Company Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract] Comprehensive income: Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest Foreign currency translation adjustment attributable to non-controlling interests EX-101.PRE 11 jrss-20180331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2018	May 14, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Entity Registrant Name	JRSIS HEALTH CARE Corp
Entity Central Index Key	0001597892
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	JRSS
Entity Common Stock, Shares Outstanding		14,975,000

XML 13 R2.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 1,200,438	$ 884,292
Accounts receivable, net	7,650,770	5,678,957
Inventories	1,155,449	936,549
Other receivables	11,256	3,334
Prepayments	811,806	900,680
Amount due from related parties	789,484	1,788,710
Deferred expenses	71,837	69,334
Total current assets	11,691,040	10,261,856
Construction in progress	12,212,307	11,320,976
Property and equipment, net	27,493,272	26,151,630
Long term deferred expenses	92,293	106,411
Deposits for capital leases	868,374	838,121
Total assets	52,357,286	48,678,994
Current Liabilities:
Accounts payable	2,731,825	2,105,563
Short-term bank loan	0	445,647
Deposits received	10,413	6,305
Amount due to related parties	64,704	73,993
Other payable	26,903	77,935
Payroll payable	60,112	57,016
Capital lease obligations - current portion	2,572,635	2,313,181
Total current liabilities	5,466,592	5,079,640
Capital lease obligations	23,046,220	22,767,740
Other capital lease payable	620,044	598,811
Total liabilities	29,132,856	28,446,191
Shareholders' equity
Common stock; $0.001 par value, 100,000,000 shares authorized; 14,965,000 and 14,835,000 issued and outstanding at March 31, 2018 and December 31, 2017, respectively	14,965	14,835
Additional Paid-in capital	2,181,373	2,051,503
Retained earnings	12,340,921	10,920,942
Other comprehensive income	490,407	(93,520)
Total shareholders’ equity of the Company	15,027,666	12,893,760
Non-controlling interest	8,196,764	7,339,043
Total shareholders' equity	23,224,430	20,232,803
Total liabilities and shareholders’ equity	$ 52,357,286	$ 48,678,994

XML 14 R3.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	14,965,000	14,835,000
Common Stock, Shares, Outstanding	14,965,000	14,835,000

XML 15 R4.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Medicine	$ 2,708,046	$ 2,528,075
Patient services	4,092,031	2,982,737
Total revenue	6,800,077	5,510,812
Operating costs and expenses:
Cost of medicine sold	1,824,465	1,650,466
Medical consumables	780,272	558,302
Salaries and benefits	1,027,089	814,366
Office supplies	210,500	119,302
Vehicle expenses	31,009	21,480
Utilities expenses	178,979	147,887
Rentals and leases	26,737	0
Advertising and promotion expenses	45	614
Interest expense	306,004	289,939
Professional fee	0	13,762
Depreciation	381,849	303,001
Total operating costs and expenses	4,766,949	3,919,119
Earnings from operations before other income and income taxes	2,033,128	1,591,693
Other income	(4,006)	(2,930)
Earnings from operations before income taxes	2,029,122	1,588,763
Income tax	581	919
Net income	2,028,541	1,587,844
Less: net income attributable to non-controlling interests	608,562	476,353
Net income attributable to the Company	1,419,979	1,111,491
Comprehensive income:
Foreign currency translation adjustment attributable to non-controlling interests	249,159	28,360
Foreign currency translation adjustment attributable to the Company	583,928	18,413
Comprehensive income	2,861,628	1,634,617
Less: Comprehensive income attributable to non-controlling interests	857,721	504,713
Comprehensive income attributable to the Company	$ 2,003,907	$ 1,129,904
Basic and diluted earnings per share	$ 0.0955	$ 0.0799
Weighted average number of shares outstanding	14,871,111	13,915,000

XML 16 R5.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities
Net income	$ 2,028,541	$ 1,587,844
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	381,849	303,001
Interest	306,004	289,939
Changes in operating assets and liabilities:
Accounts receivable, net	(1,745,281)	16,097
Inventories	(182,837)	(27,322)
Amount due from related parties	1,049,041	(2,591,155)
Prepayments and other current assets	116,680	(74,585)
Accounts payable	543,549	665,253
Amount due to related parties	(13,197)	108,873
Deposits received	3,832	0
Accrued expenses and other current liabilities	(47,917)	(61,978)
Net cash provided by operating activities	2,440,264	215,967
Cash Flows From Investing Activities
Purchases of property and equipment	(698,950)	(373,129)
Prepayment for property and equipment acquisition	(514,640)	(218,670)
Net cash used in investing activities	(1,213,590)	(591,799)
Cash Flows From Financing Activities
Proceeds from shareholders	134,565	0
Payments on capital lease obligation	(694,479)	(679,359)
Short-term bank loan	(458,342)	406,934
Net cash used in financing activities	(1,018,256)	(272,425)
Effect of exchange rate fluctuation on cash and cash equivalents	107,728	2,982
Net increase (decrease) in cash and cash equivalents	316,146	(645,275)
Cash and cash equivalents, beginning of period	884,292	890,662
Cash and cash equivalents, ending of period	1,200,438	245,387
Supplemental disclosure of cash flow information
Cash paid for income taxes	581	919
Cash paid for interest	$ 306,004	$ 289,939

XML 17 R6.htm IDEA: XBRL DOCUMENT

DESCRIPTION OF BUSINESS AND ORGANIZATION

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1. DESCRIPTION OF BUSINESS AND ORGANIZATION

JHCC, JHCL, Runteng and Jiarun are collectively referred as the “Group”.

Reorganization

On March 7, 2013, JHCL acquired all 100 issued and outstanding shares of through share exchanges to obtain 100% controlling interests of Runteng.

On October 3, 2013, Ms. Yanhua Xing transferred 23,275 JHCL shares to Mr. Junsheng Zhang, 23,225 JHCL shares to Ms. Chunlan Tang, and 1,050 JHCL shares to Mr. Weiguang Song.

On November 8, 2013, Ms. Chunlan Tang transferred all 23,225 JHCL shares to Mr. Junsheng Zhang, subsequently making Mr. Junsheng Zhang holdings 46,500 JHCL shares.

XML 18 R7.htm IDEA: XBRL DOCUMENT

SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

NOTE 2. SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES

A.	Basis of presentation

The consolidated financial statements have been prepared in accordance with the United States generally accepted accounting principles ("U.S. GAAP").

B.	Principles of consolidation

C.	Use of estimates

D.	Functional currency and foreign currency translation

E.	Concentration of Credit Risk

F.	Cash and cash equivalents

Cash and cash equivalents include all cash, deposits in banks and other liquid investments with initial maturities of three months or less.

G.	Accounts receivable

H.	Inventories

I.	Construction in progress

J.	Property and equipment

Buildings and improvement	10-40 years
Medical equipment	5-15 years
Transportation instrument	5-10 years
Office equipment	5-10 years
Electronic equipment	5-10 years
Software	5-10 years

Leases

Operating lease

Capital lease

L.	Fair Value Measurement

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices in markets that are not active, or inputs that is observable, either directly or indirectly, for substantially the full term of the asset or liability;

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

There were no transfers between level 1, level 2 or level 3 measurements for three months ended March 31, 2018 and 2017.

M.	Segment and geographic information

N.	Revenue recognition

Medicine sales

Patient Services

Patients who are not covered by social insurance are liable for the total cost of medical treatment.

⋅

Patients covered by social insurance will receive a portion or full medical services reimbursed or paid by the social insurance agencies via prepaid cards or insurance claim settlement process.

Settlement process

⋅

The Company records patients’ information in the social insurance system at check in. The system determines the covered portion and amounts based on the information input to the system.

⋅

O.	Income taxes

Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.

P.	Earnings per share

Q.	Reclassification

The comparative figures have been reclassified to conform to current year presentation.

R.	Recently accounting pronouncements

Recently Adopted Accounting Pronouncements

The ASU requires financial statement preparers to disclose:

•	A description of the accounting policy for releasing income tax effects from AOCI;

•	Whether they elect to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and

•	Information about the other income tax effects that are reclassified.

XML 19 R8.htm IDEA: XBRL DOCUMENT

Accounts Receivable, Net

3 Months Ended

Mar. 31, 2018

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Financing Receivables [Text Block]

NOTE 3. Accounts Receivable, Net

	March 31		December 31
	2018		2017
	(Unaudited)
Accounts receivable	$	7,677,439	$	5,704,697
Less: allowance for doubtful debts		26,669		25,740
	$	7,650,770	$	5,678,957

The Company experienced nil bad debts during three months ended March 31, 2018 and 2017.

XML 20 R9.htm IDEA: XBRL DOCUMENT

Inventories

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 4. Inventories

At March 31, 2018 and December 31, 2017, inventories consist of the following:

	March 31		December 31
	2018		2017
	(Unaudited)
Western medicine	$	734,770	$	662,079
Chinese herbal medicine		21,796		29,499
Medical material		396,445		243,445
Other material		2,438		1,526
	$	1,155,449	$	936,549

XML 21 R10.htm IDEA: XBRL DOCUMENT

Prepayment

3 Months Ended

Mar. 31, 2018

Prepaid Expense, Current [Abstract]

Prepaid Expenses Current [Text Block]

NOTE 5. Prepayment

At March 31, 2018 and December 31, 2017 prepayment consists of the following:

	March 31		December 31
	2018		2017
	(Unaudited)
Deposits on medical equipment	$	426,208	$	491,822
Heating fees		17,345		117,188
Others		368,253		291,670
	$	811,806	$	900,680

XML 22 R11.htm IDEA: XBRL DOCUMENT

Property and Equipment

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6. Property and Equipment

At March 31, 2018 and December 31, 2017, property and equipment, at cost, consist of:

	March 31,		December 31,
	2018		2017
	(Unaudited)
Transportation equipment	$	942,523	$	871,653
Medical equipment		12,812,488		11,833,334
Electrical equipment		1,552,754		1,496,461
Office equipment and others		325,754		130,524
Buildings		15,944,709		15,389,204
Software		151,516		146,238
Total fixed assets at cost		31,729,744		29,867,414
Accumulated depreciation		(4,236,472)		(3,715,784)
Total fixed assets, net	$	27,493,272	$	26,151,630

The Company recorded depreciation expense of $381,849 and $303,001 for the three months ended March 31, 2018 and 2017, respectively.

XML 23 R12.htm IDEA: XBRL DOCUMENT

Long term deferred expenses

3 Months Ended

Mar. 31, 2018

Deferred Expenses [Abstract]

Long Term Deferred Expenses [Text Block]

NOTE 7. Long term deferred expenses

The Company recorded consulting fee of $17,740 and $16,373 for the three months ended March 31, 2018 and 2017, respectively.

XML 24 R13.htm IDEA: XBRL DOCUMENT

Capital Lease Obligations and Deposit for Capital Leases

3 Months Ended

Mar. 31, 2018

Leases, Capital [Abstract]

Capital Lease Obligations and Deposit for Capital Leases [Text Block]

NOTE 8. Capital Lease Obligations and Deposit for Capital Leases

The leasing agreement for our hospital building contains the following provisions:

⋅

Rental payments of RMB7,000,000 (equivalent to $1,144,913) per year, payable at the beginning of September.

⋅

An option allowing the lessor to extend the lease for thirty years beyond the last renewal option exercised by the company.

⋅

The future minimum lease payments for annual capital lease obligation as of March 31, 2018 are as follows:

Year	Amounts
2018	$	2,194,794
2019		2,366,768
2020		1,229,284
Thereafter		19,828,009
Total	$	25,618,855

The Company recorded finance lease fees of $322,484 and $325,817 for the three months ended March 31, 2018 and 2017, respectively.

XML 25 R14.htm IDEA: XBRL DOCUMENT

Short-term Bank Loan

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Short-term Debt [Text Block]

NOTE 9. Short-term Bank Loan

	March 31		December 31
	2018		2017
	(Unaudited)
Short- term bank loan	$	-	$	445,647

XML 26 R15.htm IDEA: XBRL DOCUMENT

Non-controlling Interests

3 Months Ended

Mar. 31, 2018

Noncontrolling Interest [Abstract]

Noncontrolling Interest Disclosure [Text Block]

NOTE 10. Non-controlling Interests

XML 27 R16.htm IDEA: XBRL DOCUMENT

Revenue

3 Months Ended

Mar. 31, 2018

Revenues [Abstract]

Health Care Organization Revenues Disclosure [Text Block]

NOTE 11. Revenue

The Company’s revenue consists of medicine sales and patient care revenue.

	Three Months Ended March 31,
	2018		2017
	(Unaudited)		(Unaudited)
Medicine:
Western medicine	$	2,159,439	$	2,013,797
Chinese medicine		433,217		427,059
Herbal medicine		115,390		87,219
Total medicine	$	2,708,046	$	2,528,075

Patient services:
Medical consulting	$	2,091,465	$	1,605,924
Medical treatment		1,981,455		1,370,479
Others		19,111		6,334
Total patient services	$	4,092,031	$	2,982,737

	$	6,800,077	$	5,510,812

XML 28 R17.htm IDEA: XBRL DOCUMENT

Income Tax Expense

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 12. Income Tax Expense

The Company uses the asset-liability method of accounting for income taxes prescribed by ASC 740 Income Taxes. The Company and its subsidiaries each file their taxes individually.

United States

BVI

JHCL was incorporated in the BVI and, under the current laws of the BVI, it is not subject to income tax.

Hong Kong

PRC

Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.

XML 29 R18.htm IDEA: XBRL DOCUMENT

Related Party Transactions

3 Months Ended

Mar. 31, 2018

NOTE 13. Related Party Transactions

The following is the list of the related parties to which the Group has transactions with:

(a) Junsheng Zhang, the Chairman of the Company

(b) Harbin Baiyi Real Estate Development Co., Ltd, owned by Junsheng Zhang

(d) Heilongjiang Province Runjia Medical Equipment Company Limited owned by Junsheng Zhang

(e) Jiarun Super Market Co., Ltd. owned by Junsheng Zhang

(f) Harbin Qi-run pharmacy limited owned by Junsheng Zhang

(g) Yanhua Xing and Weiguang Song, the former shareholder of JHCL

Amount due from related parties

Amount due from related parties consisted of the following as of the periods indicated:

Name of related parties	March 31, 2018		December 31, 2017
	(Unaudited)
Harbin Baiyi Real Estate Development Co., Ltd,	$	739,484	$	1,738,710
Junsheng Zhang		46,500		46,500
Yanhua Xing		2,450		2,450
Weiguang Song		1,050		1,050
	$	789,484	$	1,788,710

Amount due from Junsheng Zhang, Yanhua Xing and Weiguang Song, who are the prior shareholders of JHCL, was mainly for the paid-in capital to be paid.

Amount due to related parties

Amount due to related parties consisted of the following as of the periods indicated:

	March 31,		December 31,
Name of related parties	2018		2017
	(Unaudited)
Harbin Jiarun Pharmacy Co., Ltd	$	50,548	$	7
Heilongjiang Province Runjia Medical Equipment Co., Ltd		1,089		6,014
Harbin Qi-run pharmacy Co., Ltd		5,067		17,972
Junsheng Zhang		-		50,000
	$	64,704	$	73,993

Amounts due to Junsheng Zhang represented the balance paid by Mr. Zhang for the daily operation of the Company.

Related parties’ transactions

Purchase of medicine and medical material from related parties consisted of the following for the periods indicated:

	For three months ended March 31,
Name of related parties	2018		2017
Harbin Jiarun Pharmacy Co., Ltd	$	57,828	$	57,022
Heilongjiang Province Runjia Medical Equipment Co., Ltd		1,683		-
Harbin Qi-run pharmacy Co., Ltd		1,019		12,887
	$	60,530	$	69,909

Deposits for capital leases and Capital lease obligations

XML 30 R19.htm IDEA: XBRL DOCUMENT

Basic and Diluted Earnings Per Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 14. Basic and Diluted Earnings Per Share

	Three Months Ended March 31,
	2018		2017
	(Unaudited)		(Unaudited)
Numerator:
Net income available to common stockholders	$	1,419,979	$	1,111,491
Denominator:
Basic and diluted weighted-average number of shares outstanding		14,871,111		13,915,000
Net income per share:
Basic and diluted	$	0.0955	$	0.0799

XML 31 R20.htm IDEA: XBRL DOCUMENT

Contingencies and Commitment

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 15. Contingencies and Commitment

Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed.

This office is used for 2^nd outpatient.

This office is used for 1^st Branch Company.

Future annual minimum lease payments, for non-cancellable operating leases are as follows:

Year ending December 31	Amount $
2018		81,732
2019		108,595
2020		115,036
2021		120,048
2022		122,017
		547,428

The company has paid Rentals and leases expense of $26,737 and $nil for three months ended March 31, 2018 and 2017, respectively

XML 32 R21.htm IDEA: XBRL DOCUMENT

COMMON STOCK

3 Months Ended

Mar. 31, 2018

COMMON STOCK [Abstract]

Common Stock [Text Block]

NOTE 16. COMMON STOCK

XML 33 R22.htm IDEA: XBRL DOCUMENT

Subsequent Events

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 17. Subsequent Events

From April 1, 2018 to May 14, 2018 there were 10,000 shares of the Company’s common stock issued to 1 shareholders.

As of May 14, 2018, there were 14,975,000 shares of the Company’s common stock issued and outstanding held by 134 shareholders.

The Management of the Company determined that there were no other reportable subsequent events to be disclosed.

XML 34 R23.htm IDEA: XBRL DOCUMENT

SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

A.	Basis of presentation

The consolidated financial statements have been prepared in accordance with the United States generally accepted accounting principles ("U.S. GAAP").

Principles of consolidation, Policy [Policy Text Block]

B.	Principles of consolidation

Use of Estimates, Policy [Policy Text Block]

C.	Use of estimates

Functional currency and foreign currency translation [Policy Text Block]

D.	Functional currency and foreign currency translation

Concentration of Credit Risk, Policy [Policy Text Block]

E.	Concentration of Credit Risk

Cash and Cash Equivalents, Policy [Policy Text Block]

F.	Cash and cash equivalents

Cash and cash equivalents include all cash, deposits in banks and other liquid investments with initial maturities of three months or less.

Accounts receivable, Policy [Policy Text Block]

G.	Accounts receivable

Inventories [Policy Text Block]

H.	Inventories

Construction in progress [Policy Text Block]

I.	Construction in progress

Property and equipment, Policy [Policy Text Block]

J.	Property and equipment

Buildings and improvement	10-40 years
Medical equipment	5-15 years
Transportation instrument	5-10 years
Office equipment	5-10 years
Electronic equipment	5-10 years
Software	5-10 years

Lessee, Leases [Policy Text Block]

Leases

Operating lease

Capital lease

Fair Value Measurement, Policy [Policy Text Block]

L.	Fair Value Measurement

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices in markets that are not active, or inputs that is observable, either directly or indirectly, for substantially the full term of the asset or liability;

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

There were no transfers between level 1, level 2 or level 3 measurements for three months ended March 31, 2018 and 2017.

Segment and geographic information, Policy [Policy Text Block]

M.	Segment and geographic information

Revenue Recognition, Policy [Policy Text Block]

N.	Revenue recognition

Medicine sales

Patient Services

Patients who are not covered by social insurance are liable for the total cost of medical treatment.

⋅

Patients covered by social insurance will receive a portion or full medical services reimbursed or paid by the social insurance agencies via prepaid cards or insurance claim settlement process.

Settlement process

⋅

The Company records patients’ information in the social insurance system at check in. The system determines the covered portion and amounts based on the information input to the system.

⋅

Income taxes, Policy [Policy Text Block]

O.	Income taxes

Jiarun's medical services have been exempt from enterprise income tax since March 1, 2006, which has been approved by the Local Taxation Bureau.

Earnings Per Share, Policy [Policy Text Block]

P.	Earnings per share

Reclassification, Policy [Policy Text Block]

Q.	Reclassification

The comparative figures have been reclassified to conform to current year presentation.

Recently accounting pronouncements, Policy [Policy Text Block]

R.	Recently accounting pronouncements

Recently Adopted Accounting Pronouncements

The ASU requires financial statement preparers to disclose:

•	A description of the accounting policy for releasing income tax effects from AOCI;

•	Whether they elect to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act; and

•	Information about the other income tax effects that are reclassified.

XML 35 R24.htm IDEA: XBRL DOCUMENT

SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Property Plant And Equipment Useful Life [Table Text Block]

When assets are retired or disposed, the asset’s original cost and related accumulated depreciation are eliminated from accounts and any gain or loss is reflected in income.

Buildings and improvement	10-40 years
Medical equipment	5-15 years
Transportation instrument	5-10 years
Office equipment	5-10 years
Electronic equipment	5-10 years
Software	5-10 years

XML 36 R25.htm IDEA: XBRL DOCUMENT

Accounts Receivable, Net (Tables)

3 Months Ended

Mar. 31, 2018

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	March 31		December 31
	2018		2017
	(Unaudited)
Accounts receivable	$	7,677,439	$	5,704,697
Less: allowance for doubtful debts		26,669		25,740
	$	7,650,770	$	5,678,957

XML 37 R26.htm IDEA: XBRL DOCUMENT

Inventories (Tables)

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

At March 31, 2018 and December 31, 2017, inventories consist of the following:

	March 31		December 31
	2018		2017
	(Unaudited)
Western medicine	$	734,770	$	662,079
Chinese herbal medicine		21,796		29,499
Medical material		396,445		243,445
Other material		2,438		1,526
	$	1,155,449	$	936,549

XML 38 R27.htm IDEA: XBRL DOCUMENT

Prepayment (Tables)

3 Months Ended

Mar. 31, 2018

Prepaid Expense, Current [Abstract]

Schedule Of Prepaid Expenses Current [Table Text Block]

At March 31, 2018 and December 31, 2017 prepayment consists of the following:

	March 31		December 31
	2018		2017
	(Unaudited)
Deposits on medical equipment	$	426,208	$	491,822
Heating fees		17,345		117,188
Others		368,253		291,670
	$	811,806	$	900,680

XML 39 R28.htm IDEA: XBRL DOCUMENT

Property and Equipment (Tables)

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

At March 31, 2018 and December 31, 2017, property and equipment, at cost, consist of:

	March 31,		December 31,
	2018		2017
	(Unaudited)
Transportation equipment	$	942,523	$	871,653
Medical equipment		12,812,488		11,833,334
Electrical equipment		1,552,754		1,496,461
Office equipment and others		325,754		130,524
Buildings		15,944,709		15,389,204
Software		151,516		146,238
Total fixed assets at cost		31,729,744		29,867,414
Accumulated depreciation		(4,236,472)		(3,715,784)
Total fixed assets, net	$	27,493,272	$	26,151,630

XML 40 R29.htm IDEA: XBRL DOCUMENT

Capital Lease Obligations and Deposit for Capital Leases (Tables)

3 Months Ended

Mar. 31, 2018

Leases, Capital [Abstract]

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The future minimum lease payments for annual capital lease obligation as of March 31, 2018 are as follows:

Year	Amounts
2018	$	2,194,794
2019		2,366,768
2020		1,229,284
Thereafter		19,828,009
Total	$	25,618,855

XML 41 R30.htm IDEA: XBRL DOCUMENT

Short-term Bank Loan (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Short-term Debt [Table Text Block]

	March 31		December 31
	2018		2017
	(Unaudited)
Short- term bank loan	$	-	$	445,647

XML 42 R31.htm IDEA: XBRL DOCUMENT

Revenue (Tables)

3 Months Ended

Mar. 31, 2018

Revenues [Abstract]

Schedule Of Health Care Organization Revenues [Table Text Block]

The Company’s revenue consists of medicine sales and patient care revenue.

	Three Months Ended March 31,
	2018		2017
	(Unaudited)		(Unaudited)
Medicine:
Western medicine	$	2,159,439	$	2,013,797
Chinese medicine		433,217		427,059
Herbal medicine		115,390		87,219
Total medicine	$	2,708,046	$	2,528,075

Patient services:
Medical consulting	$	2,091,465	$	1,605,924
Medical treatment		1,981,455		1,370,479
Others		19,111		6,334
Total patient services	$	4,092,031	$	2,982,737

	$	6,800,077	$	5,510,812

XML 43 R32.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2018

Schedule Of Due From Related Party Transactions [Table Text Block]

Amount due from related parties consisted of the following as of the periods indicated:

Name of related parties	March 31, 2018		December 31, 2017
	(Unaudited)
Harbin Baiyi Real Estate Development Co., Ltd,	$	739,484	$	1,738,710
Junsheng Zhang		46,500		46,500
Yanhua Xing		2,450		2,450
Weiguang Song		1,050		1,050
	$	789,484	$	1,788,710

Schedule Of Due To Related Party Transactions [Table Text Block]

Amount due to related parties consisted of the following as of the periods indicated:

	March 31,		December 31,
Name of related parties	2018		2017
	(Unaudited)
Harbin Jiarun Pharmacy Co., Ltd	$	50,548	$	7
Heilongjiang Province Runjia Medical Equipment Co., Ltd		1,089		6,014
Harbin Qi-run pharmacy Co., Ltd		5,067		17,972
Junsheng Zhang		-		50,000
	$	64,704	$	73,993

Schedule Of Purchases From Related Party Transactions [Table Text Block]

Purchase of medicine and medical material from related parties consisted of the following for the periods indicated:

	For three months ended March 31,
Name of related parties	2018		2017
Harbin Jiarun Pharmacy Co., Ltd	$	57,828	$	57,022
Heilongjiang Province Runjia Medical Equipment Co., Ltd		1,683		-
Harbin Qi-run pharmacy Co., Ltd		1,019		12,887
	$	60,530	$	69,909

XML 44 R33.htm IDEA: XBRL DOCUMENT

Basic and Diluted Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for income from continuing operations is shown as follows:

	Three Months Ended March 31,
	2018		2017
	(Unaudited)		(Unaudited)
Numerator:
Net income available to common stockholders	$	1,419,979	$	1,111,491
Denominator:
Basic and diluted weighted-average number of shares outstanding		14,871,111		13,915,000
Net income per share:
Basic and diluted	$	0.0955	$	0.0799

XML 45 R34.htm IDEA: XBRL DOCUMENT

Contingencies and Commitment (Tables)

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Future annual minimum lease payments, for non-cancellable operating leases are as follows:

Year ending December 31	Amount $
2018		81,732
2019		108,595
2020		115,036
2021		120,048
2022		122,017
		547,428

XML 46 R35.htm IDEA: XBRL DOCUMENT

DESCRIPTION OF BUSINESS AND ORGANIZATION (Details Textual)			1 Months Ended					3 Months Ended
	Nov. 08, 2013 shares	Oct. 03, 2013 shares	Dec. 20, 2013 shares	Jul. 31, 2013	Jul. 02, 2013	Jun. 01, 2013	Dec. 23, 2012 USD ($)	Mar. 31, 2018 $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares	Jun. 30, 2013	Mar. 07, 2013 shares	Feb. 25, 2013 $ / shares shares	Dec. 23, 2012 CNY (¥)	Sep. 17, 2012 $ / shares shares
Business And Organization [Line Items]
Common Stock, Shares Authorized								100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share \| $ / shares								$ 0.001	$ 0.001
Common Stock, Shares, Issued								14,965,000	14,835,000
Joint Venture Investment Obligation To Pay Capital \| $							$ 5,555,556
JHCL Shares [Member]
Business And Organization [Line Items]
Common Stock, Shares, Issued			50,000
Noncontrolling Interest, Ownership Percentage by Parent			100.00%							100.00%
JHCC Shares [Member]
Business And Organization [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance			12,000,000
Junsheng Zhang [Member]
Business And Organization [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners											100.00%
Shares Transferred Under Transaction and Shares Exchange, Shares	23,225	23,275
Attribution of accumulated retained earnings of Jiarun, Percentage				30.00%	30.00%	70.00%
Junsheng Zhang [Member] \| JHCL Shares [Member]
Business And Organization [Line Items]
Shares Transferred Under Transaction and Shares Exchange, Shares	46,500
Chunlan Tang [Member]
Business And Organization [Line Items]
Shares Transferred Under Transaction and Shares Exchange, Shares		23,225
Weiguang Song [Member]
Business And Organization [Line Items]
Shares Transferred Under Transaction and Shares Exchange, Shares		1,050
Subsidiary, Harbin Jiarun Hospital Co., Ltd [Member]
Business And Organization [Line Items]
Joint venture investment in Jiarun, Ownership Percentage in Harbin Jiarun Hospital Co., Ltd							70.00%	70.00%
Unrecorded Unconditional Purchase Obligation \| ¥													¥ 35,000,000
Joint Venture Investment Obligation To Pay Capital							$ 2,380,952						15,000,000
Joint Venture Investment Additional Paid Up Capital \| $									$ 1,831,000
Attribution of accumulated retained earnings of Jiarun, Percentage							30.00%
Joint venture investment in jiarun, Registered Capital							$ 1.00						¥ 50,000,000
Runteng [Member]
Business And Organization [Line Items]
Attribution of accumulated retained earnings of Jiarun, Percentage				70.00%	70.00%
Runteng [Member] \| JHCL Shares [Member]
Business And Organization [Line Items]
Shares, Outstanding											100
Subsidiary, JRSIS HEALTH CARE LIMITED [Member]
Business And Organization [Line Items]
Common Stock, Shares Authorized												50,000
Common Stock, Par or Stated Value Per Share \| $ / shares												$ 1.00
Attribution of accumulated retained earnings of Jiarun, Percentage			70.00%
Noncontrolling Interest, Ownership Percentage by Parent			100.00%
Subsidiary, Runteng Medical Group Co., Ltd [Member]
Business And Organization [Line Items]
Common Stock, Shares Authorized														10,000
Common Stock, Par or Stated Value Per Share \| $ / shares														$ 1

XML 47 R36.htm IDEA: XBRL DOCUMENT

SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2018
Buildings and improvement [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Buildings and improvement [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Medical equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Medical equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Transportation instrument [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Transportation instrument [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Office equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Office equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Electronic equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Electronic equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years

XML 48 R37.htm IDEA: XBRL DOCUMENT

SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Taxes Paid, Net	$ 581	$ 919
Effective Income Tax Rate Reconciliation, Percent	25.00%
Accounts Receivable [Member]
Concentration Risk, Percentage	5.00%		5.00%
Sales Revenue, Net [Member]
Concentration Risk, Percentage	10.00%		10.00%

XML 49 R38.htm IDEA: XBRL DOCUMENT

Accounts Receivable, Net (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 7,677,439	$ 5,704,697
Less: allowance for doubtful debts	26,669	25,740
Accounts Receivable, Net, Current	$ 7,650,770	$ 5,678,957

XML 50 R39.htm IDEA: XBRL DOCUMENT

Inventories (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Inventory, Net	$ 1,155,449	$ 936,549
Western medicine [Member]
Inventory [Line Items]
Inventory, Net	734,770	662,079
Chinese herbal medicine [Member]
Inventory [Line Items]
Inventory, Net	21,796	29,499
Medical material [Member]
Inventory [Line Items]
Inventory, Net	396,445	243,445
Other material [Member]
Inventory [Line Items]
Inventory, Net	$ 2,438	$ 1,526

XML 51 R40.htm IDEA: XBRL DOCUMENT

Prepayment (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Schedule Of Prepaid Expenses Current [Line Items]
Prepaid Expense, Current	$ 811,806	$ 900,680
Deposits on medical equipment [Member]
Schedule Of Prepaid Expenses Current [Line Items]
Prepaid Expense, Current	426,208	491,822
Heating fees [Member]
Schedule Of Prepaid Expenses Current [Line Items]
Prepaid Expense, Current	17,345	117,188
Others [Member]
Schedule Of Prepaid Expenses Current [Line Items]
Prepaid Expense, Current	$ 368,253	$ 291,670

XML 52 R41.htm IDEA: XBRL DOCUMENT

Property and Equipment (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total fixed assets at cost	$ 31,729,744	$ 29,867,414
Accumulated depreciation	(4,236,472)	(3,715,784)
Total fixed assets, net	27,493,272	26,151,630
Transportation equipment [Member]
Property, Plant and Equipment [Line Items]
Total fixed assets at cost	942,523	871,653
Medical equipment [Member]
Property, Plant and Equipment [Line Items]
Total fixed assets at cost	12,812,488	11,833,334
Electrical equipment [Member]
Property, Plant and Equipment [Line Items]
Total fixed assets at cost	1,552,754	1,496,461
Office equipment and other [Member]
Property, Plant and Equipment [Line Items]
Total fixed assets at cost	325,754	130,524
Buildings [Member]
Property, Plant and Equipment [Line Items]
Total fixed assets at cost	15,944,709	15,389,204
Software [Member]
Property, Plant and Equipment [Line Items]
Total fixed assets at cost	$ 151,516	$ 146,238

XML 53 R42.htm IDEA: XBRL DOCUMENT

Property and Equipment (Details Textual) - USD ($)	3 Months Ended
Property and Equipment (Details Textual) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Property, Plant and Equipment [Line Items]
Depreciation	$ 381,849	$ 303,001

XML 54 R43.htm IDEA: XBRL DOCUMENT

Long term deferred expenses (Details Textual) - USD ($)	3 Months Ended
Long term deferred expenses (Details Textual) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Deferred Costs, Current, Total	$ 71,837		$ 69,334
Deferred Costs, Noncurrent, Total	92,293		$ 106,411
consulting fee	$ 17,740	$ 16,373

XML 55 R44.htm IDEA: XBRL DOCUMENT

Capital Lease Obligations and Deposit for Capital Leases (Details)	Mar. 31, 2018 USD ($)
Schedule Of Capital Lease Obligations and Deposit for Capital Leases [Line Items]
2018	$ 2,194,794
2019	2,366,768
2020	1,229,284
Thereafter	19,828,009
Total	$ 25,618,855

XML 56 R45.htm IDEA: XBRL DOCUMENT

Capital Lease Obligations and Deposit for Capital Leases (Details Textual)	1 Months Ended			3 Months Ended
	Sep. 01, 2014 USD ($)	Sep. 01, 2014 CNY (¥)	Jun. 05, 2013 CNY (¥)	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)
Schedule Of Capital Lease Obligations and Deposit for Capital Leases [Line Items]
Capital Lease Financing Fees				$ 322,484	$ 325,817
Harbin Baiyi Real Estate Development Co., Ltd [Member]
Schedule Of Capital Lease Obligations and Deposit for Capital Leases [Line Items]
Lease Agreement Annual Payments	$ 1,144,913	¥ 7,000,000	¥ 7,000,000
Captial Lease Obligation Deposits (Financial Leasing Premium Payments) \| ¥			¥ 3,000,000
Term of Capital Lease	30 years	30 years
Capital Lease Obligation Interest Rate Percentage	6.55%	6.55%	6.55%
Capital Lease Future Minimum Payments Fair Value Of Assets	$ 15,721,295
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments	$ 15,185,032

XML 57 R46.htm IDEA: XBRL DOCUMENT

Short-term Bank Loan (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Short Term Bank Loan Disclosure [Line Items]
Short- term bank loan	$ 0	$ 445,647

XML 58 R47.htm IDEA: XBRL DOCUMENT

Short-term Bank Loan (Details Textual) - USD ($)	3 Months Ended
Short-term Bank Loan (Details Textual) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Short-term Debt [Line Items]
Short-term Debt, Percentage Bearing Fixed Interest Rate	6.09%
Interest Expense, Debt	$ 2,238	$ 3,917
Short-term Debt	$ 0		$ 445,647

XML 59 R48.htm IDEA: XBRL DOCUMENT

Non-controlling Interests (Details Textual) - USD ($)	3 Months Ended
Non-controlling Interests (Details Textual) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	$ 857,721	$ 504,713
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	2,003,907	$ 1,129,904
Stockholders' Equity Attributable to Noncontrolling Interest	$ 8,196,764		$ 7,339,043
Jiarun [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	70.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			70.00%

XML 60 R49.htm IDEA: XBRL DOCUMENT

Revenue (Details) - USD ($)	3 Months Ended
Revenue (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Product Information [Line Items]
Total medicine	$ 2,708,046	$ 2,528,075
Total patient services	4,092,031	2,982,737
Revenue, Net	6,800,077	5,510,812
Western Medicine [Member]
Product Information [Line Items]
Total medicine	2,159,439	2,013,797
Chinese Medicine [Member]
Product Information [Line Items]
Total medicine	433,217	427,059
Herbal Medicine [Member]
Product Information [Line Items]
Total medicine	115,390	87,219
Medical Consulting [Member]
Product Information [Line Items]
Total patient services	2,091,465	1,605,924
Medical Treatment [Member]
Product Information [Line Items]
Total patient services	1,981,455	1,370,479
Others [Member]
Product Information [Line Items]
Total patient services	$ 19,111	$ 6,334

XML 61 R50.htm IDEA: XBRL DOCUMENT

Income Tax Expense (Details Textual) - USD ($)	3 Months Ended
Income Tax Expense (Details Textual) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Income Tax Expense [Line Items]
Income Tax Expense (Benefit)	$ 581	$ 919
United States [Member]
Income Tax Expense [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Hong Kong [Member]
Income Tax Expense [Line Items]
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	16.50%

XML 62 R51.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Amount due from related parties	$ 789,484	$ 1,788,710
Harbin Baiyi Real Estate Development Co., Ltd [Member]
Related Party Transaction [Line Items]
Amount due from related parties	739,484	1,738,710
Junsheng Zhang [Member]
Related Party Transaction [Line Items]
Amount due from related parties	46,500	46,500
Yanhua Xing [Member]
Related Party Transaction [Line Items]
Amount due from related parties	2,450	2,450
Weiguang Song [Member]
Related Party Transaction [Line Items]
Amount due from related parties	$ 1,050	$ 1,050

XML 63 R52.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details 1) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Amount due to related parties	$ 64,704	$ 73,993
Harbin Jiarun pharmacy Co., Ltd [Member]
Related Party Transaction [Line Items]
Amount due to related parties	50,548	7
Heilongjiang Province Runjia Medical Equipment Company Limited [Member]
Related Party Transaction [Line Items]
Amount due to related parties	1,089	6,014
Harbin Qi-run pharmacy Co., Ltd [Member]
Related Party Transaction [Line Items]
Amount due to related parties	5,067	17,972
Junsheng Zhang [Member]
Related Party Transaction [Line Items]
Amount due to related parties	$ 0	$ 50,000

XML 64 R53.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details 2) - USD ($)	3 Months Ended
Related Party Transactions (Details 2) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Related Party Transaction [Line Items]
Related party transaction, purchases from related party	$ 60,530	$ 69,909
Harbin Jiarun Pharmacy Co., Ltd
Related Party Transaction [Line Items]
Related party transaction, purchases from related party	57,828	57,022
Heilongjiang Province Runjia Medical Equipment Co., Ltd
Related Party Transaction [Line Items]
Related party transaction, purchases from related party	1,683	0
Harbin Qi-run pharmacy Co., Ltd
Related Party Transaction [Line Items]
Related party transaction, purchases from related party	$ 1,019	$ 12,887

XML 65 R54.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details Textual) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Prepaid Maintenance Cost	$ 739,484
Harbin Baiyi Real Estate Development Co., Ltd [Member]
Related Party Transaction [Line Items]
Deposits for capital leases, ended of the period	477,656	$ 461,014
Capital lease obligations, ended of the period	$ 14,271,606	$ 14,632,836

XML 66 R55.htm IDEA: XBRL DOCUMENT

Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net income available to common stockholders	$ 1,419,979	$ 1,111,491
Denominator:
Basic and diluted weighted-average number of shares outstanding	14,871,111	13,915,000
Net income per share:
Basic and diluted	$ 0.0955	$ 0.0799

XML 67 R56.htm IDEA: XBRL DOCUMENT

Contingencies and Commitment (Details)	Mar. 31, 2018 USD ($)
2018	$ 81,732
2019	108,595
2020	115,036
2021	120,048
2022	122,017
Operating Leases, Future Minimum Payments Due	$ 547,428

XML 68 R57.htm IDEA: XBRL DOCUMENT

Contingencies and Commitment (Details Textual) - USD ($)	1 Months Ended		3 Months Ended
	Dec. 31, 2017	Aug. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Commitments And Contingencies [Line Items]
Operating Lease, Expense	$ 68,128	$ 36,881
Lessee, Operating Lease, Term of Contract	5 years	5 years
Deposits	$ 3,842
Operating Leases, Rent Expense			$ 26,737	$ 0

XML 69 R58.htm IDEA: XBRL DOCUMENT

COMMON STOCK (Details Textual) - USD ($)	3 Months Ended
COMMON STOCK (Details Textual) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Proceeds from Issuance of Common Stock	$ 134,565	$ 0
Restricted Stock [Member]
Stock Issued During Period, Shares, New Issues	130,000
Shares Issued, Price Per Share	$ 1
Proceeds from Issuance of Common Stock	$ 130,000

XML 70 R59.htm IDEA: XBRL DOCUMENT

Subsequent Events (Details Textual) - shares	May 14, 2018	Mar. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Common Stock, Shares, Issued		14,965,000	14,835,000
Common Stock, Shares, Outstanding		14,965,000	14,835,000
One Hundred Thirty Four Shareholders [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	14,975,000
Common Stock, Shares, Outstanding	14,975,000
1 Shareholders [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	10,000
Common Stock, Shares, Outstanding	10,000

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