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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net cash used in operating activities $ (12,912,011) $ (45,588,906)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equity investment 0 (680,932)
Purchase of property, plant and equipment (720,445) (7,329,509)
Purchase of land use right and property 0 (2,183,430)
Purchase of other intangible assets 0 (7,502)
Net of cash acquired of 60% of Hezhe's equity interests (355,400) 0
Purchase of short-term investment (4,167,970) 0
Proceeds from short-term investment 8,431,348 0
Cash dividend received 55,573 0
Proceeds from disposal of property, plant and equipment 41,495 842
Loans provided to third parties 0 (790,000)
Proceeds from interest and redemption of equity securities investment 1,573,441 0
Net cash provided by (used in) investing activities 4,858,042 (12,913,713)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from bank loans 662,836 0
Repayment of bank loans (38,600) (602,477)
Loans proceed from third parties 708,832 0
Repayment of loans to third parties (90,000) 0
Redemption of convertible promissory notes 0 (47,534,119)
Net cash provided by (used in) financing activities 1,243,068 (48,136,596)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 70,752 (2,614,204)
Net decrease in cash, cash equivalents and restricted cash (6,740,149) (109,253,419)
Cash, cash equivalents and restricted cash at beginning of period 29,571,897 154,096,801
Cash, cash equivalents and restricted cash at end of period 22,831,748 44,843,382
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 553,654 1,200,673
Income tax paid 0 4,829
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Convention from debt to equity interest of HW Electro Co., Ltd. 0 1,000,000
Cashless exercise of warrants 49,076 2,168,185
CAE [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of equity interests 0 (1,924,557)
Antric GmbH [Member]    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of equity interests 0 (1)
Cash acquired from acquisition $ 0 $ 1,376