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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash $ 5,981,019 $ 3,883,896
Accounts receivable, net 18,182,819 26,350,650
Inventories, net 15,987,667 21,263,961
Prepayments and other current assets 2,647,841 1,546,623
Prepayments and other receivables - related parties 5,715,890 3,119,822
Total current assets 48,515,236 56,164,952
PROPERTY AND EQUIPMENT, NET 1,592,582 387,655
OTHER ASSETS    
Intangible assets   42,683
Operating lease right-of-use assets, net 9,631,504 8,087,969
Deferred tax assets, net 1,369,937 1,478,589
Other noncurrent assets 2,333,399 2,989,012
Total other assets 13,334,840 12,598,253
Total assets 63,442,658 69,150,860
CURRENT LIABILITIES    
Short-term loans 13,007,649 14,657,280
Accounts payable 13,752,256 32,009,851
Accounts payable - related parties 614,633  
Income tax payable 172,790 1,220,939
Operating lease liabilities - current 1,238,857 1,315,848
Accrued expenses and other current liabilities 4,017,469 5,512,438
Total current liabilities 32,803,654 54,716,356
OTHER LIABILITIES    
Operating lease liabilities - noncurrent 8,491,300 6,884,794
Total liabilities 41,294,954 61,601,150
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY    
Preference Shares ($0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2022 and December 31, 2021)
Ordinary shares ($0.0001 par value, 200,000,000 shares authorized, 9,500,000 and 7,000,000 shares issued and outstanding as of September 30, 2022 and December 31, 2021*) 950 700
Parent's net investment   7,549,010
Additional paid-in capital 20,834,944  
Retained earnings 2,972,865  
Accumulated other comprehensive loss (1,661,055)  
Total shareholders' equity 22,147,704 7,549,710
Total liabilities and shareholders' equity $ 63,442,658 $ 69,150,860