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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 5,752,117 $ 2,105,625
Restricted cash   9,500,000
Accounts receivable, net 3,650,005 5,343,716
Prepayments 5,473,938 1,059,335
Other receivables 1,540,044 31,082
Loans receivable 22,487,767 11,416,940
Amount due from related parties 705,280 741,340
Total current assets 39,609,151 30,198,038
NON-CURRENT ASSET    
Property and equipment, net 12,224,582 3,448,109
Deferred tax assets 35,491 31,852
Deposits 10,327,872 261,992
Goodwill 20,152,890  
Total non-current asset 42,740,835 3,741,953
Total assets 82,349,986 33,939,991
CURRENT LIABILITIES:    
Short-term bank borrowings 7,579,324 6,551,724
Accounts payable 1,344,532 1,415,591
Other payables and accrued liabilities 19,269,124 531,120
Amount due to related parties 294,344 993,846
Tax payable 3,133,294 2,722,409
Current maturities of long-term bank borrowings 269,009
Current portion of capital lease and financing obligations 2,267,248 51,135
Current maturities of loans from other financial institutions 144,126 235,487
Total current liabilities 34,301,001 12,501,312
NON-CURRENT LIABILITIES    
Long-term bank borrowings 179,339
Long-term loans from other financial institutions 136,400
Long-term portion of capital lease and financing obligations 200,712 27,989
Total non-current liabilities 380,051 164,389
Total liabilities 34,681,052 12,665,701
SHAREHOLDERS’ EQUITY    
Ordinary shares: $0.001 par value, 50,000,000 shares authorized, 19,134,277 and 12,354,040 shares issued and outstanding as of December 31, 2021 and 2020, respectively* [1] 19,134 12,354
Share subscription receivables (847,086) (847,086)
Additional paid-in capital 41,792,071 13,824,820
Statutory reserves 916,148 877,886
Retained earnings 5,929,043 6,905,718
Accumulated other comprehensive (loss) income (140,376) 500,598
Total shareholders’ equity 47,668,934 21,274,290
Total liabilities and shareholders’ equity $ 82,349,986 $ 33,939,991
[1] Giving retroactive effect to the re-denomination and nominal issuance of shares effected on February 12, 2020, and the surrender and cancellation of shares effected on May 21, 2020.