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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 288,255 $ 165,685
Accounts receivable, net (including $61,113 and $146,087 from related parties as of December 31, 2023 and 2022, respectively) 3,118,892 4,797,564
Inventories 32,587 148,925
Prepayments and other current assets, net (including $941,978 and $1,102,861 to related parties as of December 31, 2023 and 2022, respectively) 1,643,455 1,758,917
Total current assets 5,083,189 6,871,091
Non-current assets    
Deposits paid, net (including $536,450 and $758,445 to related parties as of December 31, 2023 and 2022, respectively) 618,456 1,121,302
Property and equipment, net 83,706 97,890
Intangible assets, net 151,639 370,926
Goodwill 454,201
Total Assets 6,249,169 9,287,942
Current liabilities    
Accounts payable (including $162,310 and $80,426 to related parties as of December 31, 2023 and 2022, respectively) 583,887 688,822
Accrued liabilities 627,457 502,389
Bank and other borrowings - current 458,023 422,653
Income tax payable 1,453 38,879
Customer advances 1,364,260 139,334
Total current liabilities 3,851,925 2,484,582
Non-current liabilities    
Bank and other borrowings 212,042 58,438
Total Liabilities 4,258,331 2,788,033
Stockholders’ Equity    
Common stock, 150,000,000 shares authorized, 15,655,038 shares issued and outstanding as of December 31, 2023 and 2022 15,655 15,655
Additional paid-in capital 11,061,233 11,061,233
Accumulated deficit and statutory reserves (8,551,019) (4,504,404)
Accumulated other comprehensive income (loss) (406,190) (180,826)
Total Fortune Valley Treasures, Inc. stockholders’ equity 2,119,679 6,391,658
Noncontrolling interests (128,841) 108,251
Total Stockholders’ Equity 1,990,838 6,499,909
Total Liabilities and Stockholders’ Equity 6,249,169 9,287,942
Nonrelated Party [Member]    
Non-current assets    
Operating lease right-of-use assets, related parties 248,626 297,232
Current liabilities    
Operating lease obligations, related parties - current 119,633 110,201
Non-current liabilities    
Operating lease obligations, related parties – non-current 153,487 189,957
Related Party [Member]    
Non-current assets    
Operating lease right-of-use assets, related parties 63,553 75,300
Current liabilities    
Operating lease obligations, related parties - current 16,986 16,629
Due to related parties 680,226 565,675
Non-current liabilities    
Operating lease obligations, related parties – non-current $ 40,877 $ 55,056