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Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Rubber Leaf Sealing Products (Zhejiang) Co., Ltd. (the “RLSP”) was established on July 8, 2019, and is located in Fenghua District, Ningbo, Zhejiang province, the People’s Republic of China (“PRC”). It is engaged in the import and export trade, production and sales of synthetic rubber, rubber compound, car window seals, auto parts, etc. of integrated group companies. It has an integrated machinery production plant on PRC. RLSP, a well-known auto parts enterprise, is a first-tier supplier of well-known auto brands such as Dongfeng Motor and French Renault. RLSP has a registered capital of $<span id="xdx_909_eus-gaap--CapitalUnits_iI_pn6n6_c20190708__dei--LegalEntityAxis__custom--RubberLeafSealingProductsCoLtdMember_zHXhBsfbqdV4" title="Registered capital amount">20</span> million US dollars to be injected and is a wholly owned by foreign investment.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Rubber Leaf Inc (the “Company” or “RLI”) was incorporated under the law of the State of Nevada on May 18, 2021 by Ms. Xingxiu Hua, the sole shareholder of RLSP. On May 27, 2021, the Company entered a share exchange agreement with Ms. Hua, pursuant to which, the Company issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20210526__20210527__dei--LegalEntityAxis__custom--RubberLeafSealingProductsCoLtdMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zcdqiy2fzexf" title="Number of shares issued">40,000,000</span> shares of common stock to exchange for all of RLSP’s shares. No change of control of RLSP resulted from the execution of the share exchange agreement.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 20000000 40000000 <p id="xdx_809_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zEmACXf4fLfk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 2 – <span id="xdx_82E_zihC49CNY86f">Going concern</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), which contemplate continuation of the Company as a going concern. The Company currently has a net loss of $(<span id="xdx_903_eus-gaap--NetIncomeLoss_iN_di_c20230101__20230630_zhOUaMdvt1N7" title="Net Loss">235,214</span>) for the six months ended June 30, 2023 and accumulated deficits of $<span id="xdx_90C_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_c20230630_zIXFJSabFfa5" title="Accumulated deficits">(2,054,971)</span> as of June 30, 2023. The Company has negative working capital of $<span id="xdx_90A_ecustom--WorkingCapitalDeficit_iI_c20230630_zMJnCpkqLBE8" title="Negative working capital">(9,272,287</span>) as of June 30, 2023. The Company has not completed its efforts to establish a stabilized source of gross profit sufficient to cover operating costs over a reasonable period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, in the near future, on additional investment capital to fund operating expenses and its construction of new production line. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> -235214 -2054971 -9272287 <p id="xdx_806_eus-gaap--SignificantAccountingPoliciesTextBlock_zH0HuAPy8ozi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 3 - <span id="xdx_829_zsCoyd0oKMIe">Summary of Significant Accounting Policies</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84A_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z90sQUcRA1wh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_863_zFdyBIrV80Ie">Basis of Presentation</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">This summary of significant accounting policies is presented to assist in understanding the Company’s financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. With respect to the unaudited financial statements as of and for the six months ended June 30, 2023, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ended December 31, 2023.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The consolidated financial statements include the accounts of Rubber Leaf Inc, the parent company and its wholly owned subsidiary in China - Rubber Leaf Sealing Products (Zhejiang) Co., Ltd. All intercompany transactions and balances were eliminated in consolidation.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84B_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zadFYxHiKxZi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_867_zoU00TASyiy2">Reclassifications</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Certain amounts on the prior year’s consolidated balance sheets, consolidated statements of operations and cash flows were reclassified to conform to current-year presentation, with no effect on ending stockholders’ equity.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_847_eus-gaap--UseOfEstimates_zHLrabvGttqd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86D_zERsXYiTmonf">Use of Estimates</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. Signiant estimates are used in the collectability of accounts receivable, the useful lives and impairment of property and equipment, the valuation of deferred tax assets, inventories reserve and provisions for income taxes, among others.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84E_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zXUnMXKrzVA1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86B_zTRL8fZ9Efqf">Revenue Recognition</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company adopted Accounting Standards Update (“ASU”) 2014-09, Accounting Standards Codification Topic 606, <i>Revenue from Contracts with Customers</i> (ASC 606) since July 2019. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company applies the five-step model to sales contracts.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company’s revenue is mainly generated from selling the synthetic rubber, rubber compound, car window seals, auto parts under two models of supply. The Company has disaggregated revenue at the sales channels through direct supply model and indirect supply model.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Model A: Direct supply model. Upon passing the on-site inspections of automobile Original Equipment Manufacturers (the “OEMs”), RLSP is listed at the OEMs’ directories being one of their first-tier suppliers who will purchase raw materials, produce final products independently, and deliver finished products to the OEMs’ warehouses directly. RLSP satisfies its performance obligation when its finished products are delivered to the OEMs’ warehouses and a follow-up quality inspection is accepted by the OEMs. Meanwhile, the OEMs will also request product replacement for disqualified products. The ownership and control of our finished products are transferred to our customers as soon as the products pass the inspection and acceptance into the warehouses of the OEMs. Our revenue will be recognized once the control of our products has been transferred to our customers, and the payments will be paid by the OEMs directly.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Model B: Indirect supply model. RLSP received the purchase orders from our related parties-Shanghai Xinsen Import &amp; Export Co., Ltd (“Shanghai Xinsen”) and Xinsen Sealing Products (Hangzhou) Co., Ltd (“Hangzhou Xinsen”) (collectively named as “Xinsen Group” for two companies together). Branded Automobile Manufacturers (the “Auto Manufacturers”) send a lump sum purchase orders of the whole vehicle rubber and plastic auto parts of one model to their first-tier suppliers, who then subcontract rubber and plastic seals to Xinsen Group. Xinsen Group is a certified second-tier supplier of Auto Manufacturers who then subcontract some products that they do not have capability to manufacture to RLSP. Once purchase orders are received, RLSP will purchase rubber materials from our venders and outsourced the purchase orders to third party manufacturer for work-in-process products (“WIP”) or finished products in its entirely based on management’s decision under the operating circumstances. RLSP has two forms of outsourced processing under Model B:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">1)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RLSP purchases raw materials and subcontracts the third-party manufacturers to produce WIP. Once WIP is finished and delivered to RLSP’s warehouse, RLSP performs some manual processes, such as welding and constructing in order to meet the specification of the purchase orders, the final products are concluded after strict quality inspection.</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">2)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RLSP purchases raw materials and subcontracts third party manufacturers to produce finished products. RLSP will perform the responsibilities to trace and observe each step of production from the third-party manufacturers.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The finished products will be delivered to the first-tier suppliers’ warehouses, the downstream customers of Xinsen Group either from RLSP or third-party manufacturers’ locations. Xinsen Group will assign inspectors and perform quality inspections when the finished products are delivered. RLSP satisfies its performance obligation when the finished products are delivered to Xinsen Group’s customers and the quality inspection is qualified performed by Xinsen Group. Meanwhile, Xinsen Group will also request product replacement for disqualified products. Once the quality and quantity are confirmed and finished products are acceptable into the warehouses of Xinsen Group’s customers, receiving notes will be provided by Xinsen Group’s customers, then to RLSP as proof of delivery. The date of receiving notes signed is the time that RLSP transfers ownership and control of the finished products under model B to Xinsen Group then indirectly to the first-tier suppliers. RLSP recognizes revenue on the dates when receiving notes are signed by Xinsen Group’s customers.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Under both supply models, payment of products is generally made within a 30-day term upon receiving notes signed by our customers. Extended payment terms are provided on a limited basis not to exceed two months. After the customer receives the finished products, if the customer finds quality problems before installing them to the vehicles, the customer is able to inform RLSP and request replacement for the same type products. Since November 2021, RLSP has terminated warranty assurance to our customers due to the characteristics of our products.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84F_eus-gaap--CostOfSalesPolicyTextBlock_z4inhnusSIe1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_868_zkfcZNaWdaFa">Cost of revenue</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Cost of revenues is comprised of raw materials consumed, manufacturing costs, third party logistics and distribution costs including packaging, freight, transportation, shipping and handling costs, and inventory adjustment due to the defectives and inventory count.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84C_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zQ2l9V5QgiHb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86A_zfZyWjrIOrji">Cash and Cash Equivalents</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Cash and cash equivalents include bank deposits and liquid investments with original maturities of three months or less as of the purchase date of such investments.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84C_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zx6lA5cTyUdk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_866_zgUX10ebPPFg">Restricted cash</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company had notes payable outstanding with Ningbo bank and was required to keep certain amounts on deposit that were subject to withdrawal restrictions. The notes payable are generally short term in nature due to its maturity period of six months or less, thus restricted cash was classified as a current asset.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_za9jKy6rCiof" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_863_zlhC7mWBVO16">Concentration risk</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company maintains cash with banks in the United States of America (“USA”) and PRC. Should any bank holding cash become insolvent, or if the Company is otherwise unable to withdraw funds, the Company would lose the cash with that bank; however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. In China, a depositor has up to RMB<span id="xdx_903_ecustom--CashFSDInsuredAmount_iI_uRMB_c20230630_znKL6aGSwBOa" title="FSD insured amonut">500,000</span> insured by the People’s Bank of China Financial Stability Bureau (“FSD”). In the United States, the standard insurance amount is $<span id="xdx_909_eus-gaap--CashFDICInsuredAmount_iI_c20230630_zNfqgBUGr0Wb" title="FDIC insured amount">250,000</span> per depositor in a bank insured by the Federal Deposit Insurance Corporation (“FDIC”).</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Financial instruments that potentially subject the Company to significant concentrations of credit risk are cash and cash equivalents and accounts receivable. As of June 30, 2023 and December 31, 2022, $<span id="xdx_903_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_dxL_c20230630_z3XkXJPjSwg3" title="Cash and restricted cash::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0559">Nil</span></span> and $<span id="xdx_904_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_c20221231_z2VxtAJ7o2yk" title="Cash and restricted cash">1,240,272</span> of the Company’s cash and restricted cash held by financial institutions were uninsured, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i>Major customers</i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_895_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_z690B1hMHau7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, as well as three months ended June 30, 2023 and 2022 the Company’s revenues from two major customers accounted more than 10% of the total revenue were as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span id="xdx_8B0_zdzWpaFy5Upj" style="display: none">Schedule of Concentration Risk Percent</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Six months ended <br/> June 30, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Three months ended <br/> June 30, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Six months ended <br/> June 30, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Three months ended <br/> June 30, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; color: Black; text-align: left">Customer B</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_983_eus-gaap--Revenues_c20230101__20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zaSqQcCJWgw6" style="width: 7%; color: Black; text-align: right" title="Revenues">3,358,311</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zhyufo54mwuj" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">73</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_981_eus-gaap--Revenues_c20230401__20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zSPqJtr450p4" style="width: 7%; color: Black; text-align: right" title="Revenues">1,910,202</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zmqnbHegrbee" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">84</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">$</p></td><td id="xdx_987_eus-gaap--Revenues_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zjIWWanR8g12" style="width: 7%; color: Black; text-align: right" title="Revenues">3,719,213</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zUNYRhcoRGN3" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">63</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_c20220401__20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zejS0eS9g5ma" style="width: 7%; color: Black; text-align: right" title="Revenues">1,205,594</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_z4p6wJsiv6h1" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">55</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Customer A</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_c20230101__20230630__srt--MajorCustomersAxis__custom--CustomerAMember_z3OlWfxkOxJb" style="color: Black; text-align: right" title="Revenues">1,267,970</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zSl6M2Jkvyad" style="color: Black; text-align: right" title="Concentrationr risk, percentage">27</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--Revenues_c20230401__20230630__srt--MajorCustomersAxis__custom--CustomerAMember_zfB3KFzPvvAa" style="color: Black; text-align: right" title="Revenues">370,538</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_znpTXV0bh7Xk" style="color: Black; text-align: right" title="Concentrationr risk, percentage">16</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_985_eus-gaap--Revenues_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerAMember_zipgf1JYmFmb" style="color: Black; text-align: right" title="Revenues">2,197,969</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zKEKSkWzlrA5" style="color: Black; text-align: right" title="Concentrationr risk, percentage">37</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_986_eus-gaap--Revenues_c20220401__20220630__srt--MajorCustomersAxis__custom--CustomerAMember_zem0xojwBsUj" style="color: Black; text-align: right" title="Revenues">976,845</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_dp_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zisOgUTBpaNg" style="color: Black; text-align: right" title="Concentrationr risk, percentage">45</td><td style="color: Black; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> June 30, 2023</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> June 30, 2022</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; text-align: left">Customer B</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_c20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zZDzCoTkA9Zg" style="width: 13%; text-align: right" title="Accounts receivable">4,164,544</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zzL7PRjNMFt3" style="width: 13%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--AccountsReceivableNetCurrent_iI_c20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zgnAi97OoRX8" style="width: 13%; text-align: right" title="Accounts receivable">3,883,504</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_ztYBaGEj5nY6" style="width: 13%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer A</td><td> </td> <td style="text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">$</p></td><td id="xdx_98E_eus-gaap--AccountsReceivableNetCurrent_iI_c20230630__srt--MajorCustomersAxis__custom--CustomerAMember_ziUtjuKH9x02" style="text-align: right" title="Accounts receivable"><span style="-sec-ix-hidden: xdx2ixbrl0605">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_z6Q6dL74q3kg" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0607">-</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AccountsReceivableNetCurrent_iI_c20220630__srt--MajorCustomersAxis__custom--CustomerAMember_z0CvgrOhkiFi" style="text-align: right" title="Accounts receivable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0609">-</span></span></td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_ztLFclsbTDt9" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0611">-</span></span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Customer A: eGT New Energy Automotive Co., Ltd. (“eGT” ), an unrelated party.</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Customer B: Shanghai Xinsen Import &amp; Export Co., Ltd (“Shanghai Xinsen”), a related party that sells RLSP’s products to Shanghai Hongyang Sealing Co., Ltd. (“Shanghai Hongyang”) and Wuhu Huichi Auto Parts Co., Ltd. (“Wuhu Huichi”), two unrelated parties of RLSP and the Company, and certified first-tier suppliers of Auto Manufacturers.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i></i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i>Major vendors</i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, as well as three months ended June 30, 2023 and 2022, the Company made purchases from the major vendors accounted more than 10% of the total purchases were as following:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six months ended <br/> June 30, 2023</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three months ended <br/> June 30, 2023</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six months ended <br/> June 30, 2022</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three months ended <br/> June 30, 2022</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 12%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor A</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zTVDGzRNimS7" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,864,667</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zY5lrUq0EzJi" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">90</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98D_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zkucKZqHQ3F5" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,956,561</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zrhzSJKGNCpb" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">96</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ </span></td><td id="xdx_980_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zH4Ifv3XMASk" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,793,171</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zDh2UXMFRdOk" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">68</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_980_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zUXpRzWujSq3" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,236,093</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zo4iPQNsG2Y9" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor B</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_986_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zPcqBQmvd2Nb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0629">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zd7kDSNHFc83" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0631">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zq6iraNVwsC7" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0633">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zChdYNfwkkFc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0635">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">$</td><td id="xdx_988_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zf0Hv5KdRhCc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,348</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zAHBTTrRrGw" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0639">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zGhq5KUq4vC4" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,348</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_z4DfOGfP5aH9" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0643">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor C</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zu9dDQjlsT14" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">441,441</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zJ9htmPd90Ib" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z5s5PATdD9r9" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,052</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zEwGLPyovgth" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zpe3deElqO9d" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,127,791</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zOcX1T5kEoZb" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98F_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zVtJ28YZpA34" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">543,838</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zItQyLYZ6KRc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">As of <br/> June 30, 2023</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">As of <br/> June 30, 2022</td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; color: Black; text-align: left">Vendor A</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right"><span id="xdx_90D_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zngXvVvnVNUd" title="Accounts payable">2,406,182</span></td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zELkk8awa8A5" style="width: 13%; color: Black; text-align: right" title="Concentrationr risk, percentage">34</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right"><span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zD5MNrLegBK1" title="Accounts payable">2,115,497</span></td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zK8VbTdISDW2" style="width: 13%; color: Black; text-align: right" title="Concentrationr risk, percentage">21</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Vendor B</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_ze7X8TtC0Vkb" title="Accounts payable">4,595,664</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zjegoNK17SH7" style="color: Black; text-align: right" title="Concentrationr risk, percentage">66</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_900_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zUhOoF26hna9" title="Accounts payable">6,835,124</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zToRUpD7nPwl" style="color: Black; text-align: right" title="Concentrationr risk, percentage">66</td><td style="color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Vendor C</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_904_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zuxlaBM6OVnj" title="Accounts payable"><span style="-sec-ix-hidden: xdx2ixbrl0677">-</span></span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zB2Eydo10rYh" style="color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0679">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_903_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zXxkWIWa0S01" title="Accounts payable">49,857</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zyx7c7N0BrI9" style="color: Black; text-align: right" title="Concentrationr risk, percentage">0</td><td style="color: Black; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor A: Shanghai Haozong Rubber &amp; Plastic Technology Co., Ltd. (“Shanghai Haozong”), a related party. </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor B: Shanghai Huaxin Economic and Trade Co., Ltd. (“Shanghai Huaxin”), a related party, purchase amounts and accounts payable balances include retainage payables. </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor C: Shanghai Yongliansen Import and Export Trading Company (“Yongliansen”), a related party.</span></td></tr> </table> <p id="xdx_8A9_z2MiO3ROx51f" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84A_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zS6kWhAUcrfa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Accounts Receivable</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Accounts receivables are reported at their net realizable value. Any value adjustments are booked directly against the relevant receivable. We have standard payment terms that generally require payment within approximately 30 to 60 days. Management performs ongoing credit evaluations of its customers. An allowance for potentially uncollectible accounts is provided based on history, economic conditions, and composition of the accounts receivable started from January 1, 2023, the first date the Company adopted ASC 2016-13. As of June 30, 2023 and December 31, 2022 no credit risk identified by the management and no allowance for doubtful accounts deemed necessary.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_849_eus-gaap--InventoryPolicyTextBlock_zlVVjAw2141i" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Inventories</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Inventories consist of raw materials and finished products, and are stated at the lower of cost or net realizable value. Cost is calculated by applying the weighted -average method and physically applied first-in-first-out method (FIFO) in inventory stock in and out. The Company regularly reviews inventory quantities on hand and writes down to its net realizable value any inventory that it believes to be impaired. Management considers forecast demand in relation to the inventory on hand, competitiveness of product offerings, market conditions and product life cycles when determining excess and obsolescence and net realizable value adjustments. Once inventory is written down and a new cost basis is established, it is not written back up if demand increases.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84B_ecustom--AdvancesToVendorsPolicyPolicyTextBlock_z4s3jsQIRSzl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Advances to vendors</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">From time to time, we paid advances to our vendors in order to secure our purchase orders or as retainers required pursuant to various purchase agreements related to production and the 2^nd production lines currently under construction. The advances have no interest bearing, normally settled along with purchase transactions within 60 to 180 days depending on market condition, and around 365 days for construction projects and/or equipment purchase.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></p> <p id="xdx_845_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zlZS6ziYt8Fl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Property and equipment</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Property and equipment are initially recorded at their historical cost. Repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the following estimated useful lives of the depreciable assets:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Land use rights: <span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zoz9VII6Huf6" title="Property and equipment, useful life">50</span> years</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Leasehold improvement: <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zoQwsREuidvj" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2023%23UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember"><span style="-sec-ix-hidden: xdx2ixbrl0694">shorter of the estimate useful life or lease term</span></span></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Factory equipment: <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zH3k3FarMW6f" title="Property and equipment, useful life">3</span>-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_z2CcM41K9Ic3" title="Property and equipment, useful life">36</span> years</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Auto vehicles: <span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AutoVehiclesMember_zIexOLdRUe83" title="Property and equipment, useful life">4</span> years</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Office equipment and furniture: <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zqOXCQPefFTb" title="Property and equipment, useful life">4</span>-<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_ziEdsePJRlha" title="Property and equipment, useful life">10</span> years</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Construction in progress (“CIP”) includes pre-construction costs, construction costs, interest incurred on financing, amortization of land use right during the construction period, insurance and overhead costs related to construction. Interest of borrowings specific for the construction project and amortization of land use rights are capitalized under CIP when development activities commence, and end when the qualifying assets are ready for their intended use.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_844_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zKNITcftcRJ5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86E_zxJaveKdNIJ4">Intangible Assets</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">All land in the PRC is owned by the PRC government and cannot be sold to any individual or company. The Company has recorded the amounts paid to the PRC government when acquired long-term interests of land use rights under intangible assets. This type of arrangement is common for the use of land in the PRC. The Company amortizes land use rights based on the term of the respective land use rights granted, which generally ranges from <span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20230630__srt--RangeAxis__srt--MinimumMember_zTIsnHOlsTM3" title="Intangible asset useful life">15</span> to <span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20230630__srt--RangeAxis__srt--MaximumMember_z3D4TOpBJbz1" title="Intangible asset useful life">50</span> years. The land use rights of Collective Lands has unlimited useful lifetime.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84C_eus-gaap--DebtPolicyTextBlock_zl71t366Ao7d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86B_zjQpg8ihUGL3">Notes payable</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Short-term notes payable are lines of credit extended by banks. The banks in-turn issue the Company a bankers acceptance notes, which can be endorsed and assigned to vendors as payments for purchases. These short-term notes payable bear no interest and is guaranteed by the bank for its complete face value and usually matures within three to six-month period. The banks usually require the Company to deposit a certain amount of cash at the bank as a guaranteed deposit, which is classified on the balance sheet as restricted cash.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">As of June 30, 2023 and December 31, 2022, RLSP held $<span id="xdx_900_eus-gaap--NotesPayable_iI_dxL_c20230630_zwUnBVoj28Gc" title="Notes payable::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0714">Nil</span></span> and $<span id="xdx_905_eus-gaap--NotesPayable_iI_c20221231_z2kRQog7xb75" title="Notes payable">1,312,362 </span>notes payable issued by Ningbo bank with various maturity dates up to June 30, 2023. The same amount of deposits was required by the banks and classified as restricted cash as of June 30, 2023 and December 31, 2022.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_848_eus-gaap--MajorCustomersPolicyPolicyTextBlock_z1lnLAThhDl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_860_z0k19AEwna5j">Advances from customers</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">From time to time, we receive advances from our customers, which are made normally under sales frame contracts, each sales transaction will be initiated by purchase orders received under the frame contracts. The advances have no interest bearing, normally settled along with purchase/sales transactions within 60 to180 days.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84B_ecustom--RetainagePayablesPolicyPolicyTextBlock_zZ9nypxreDAj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_868_zVNP563agZIk">Retainage Payables</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_90F_ecustom--RetainagePayableDescription_c20230101__20230630_zmapaH2UKTt9" title="Retainage payable description">For equipment purchased from Shanghai Huaxin in the PRC, a related party, by RLSP in the PRC, the Company typically retains a portion of the purchase invoices, typically 3-5%, for 12 to 24 months to ensure the quality of equipment after installation during the qualifying warranty period.</span> As of June 30, 2023 and December 31, 2022, retainage payables were $<span id="xdx_90B_ecustom--RetainagePayable_iI_dxL_c20230630_zn4HWCLpV183" title="Retainage payable::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0724">Nil</span></span> and $<span id="xdx_90E_ecustom--RetainagePayable_iI_c20221231_za19RHRJi8j4" title="Retainage payable">38,138</span> with maturity dates various to June 30, 2023 and 2022, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_849_eus-gaap--IncomeTaxPolicyTextBlock_ztj0ijLx1Kv4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86E_zVfRGKystUZ5">Income Taxes</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">We are governed by the Income Tax Law of the PRC and the United States. The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The 2017 Tax Reform Act permanently reduces the U.S. corporate income tax rate to a <span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_c20230101__20230630_zKKUjMZPrEW6" title="Corporate tax rate">21</span>% flat rate. In addition, the 2017 Tax Reform Act also creates a new requirement that certain income (i.e., Global Intangible Low-Taxed Income (“GILTI”)) earned by controlled foreign corporations (“CFCs”) must be included in the gross income of the CFCs’ U.S. shareholder income. The tax law in PRC applies an income tax rate of <span id="xdx_90A_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxContingencies_pid_dp_c20230101__20230630_zin3fdnPY7n7" title="PRC applies, income tax rate">25</span>% to all enterprises. The Company’s subsidiary does not receive any preferential tax treatment from local government.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_849_eus-gaap--IncomeTaxUncertaintiesPolicy_zht28sbaSuY3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86F_zgB1DSyXlgVi">Value added tax</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.25in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company is subject to value added tax (“VAT”). The applicable VAT rate is <span id="xdx_905_ecustom--ValueAddedTaxRate_pid_dp_c20230101__20230630_znpYZ5d9xjJ7" title="Value added tax rate">13</span>% for products sold in the PRC for the years of 2023 and 2022. The amount of VAT liability is determined by applying the applicable tax rate to the amount of goods sold (output VAT) less VAT accrued on purchases made with the relevant supporting invoices (input VAT). Sales and purchases are recorded net of VAT (the amount of VAT is excluded from revenues and costs) collected and paid as the Company acts as an agent for the government.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_zAZPQHvyQFbf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_869_zHZ8zlNSCd3l">Earnings Per Share</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company computes basic and diluted earnings per share amounts in accordance with ASC Topic 260, Earnings per Share. Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Pursuant to ASC 260-10-55, EPS computations should be based on the facts and circumstances of the transaction for reorganization. The Company calculated its EPS retrospectively akin to a normal share issuance as if the reorganization incurred from the inception.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company does not have any potentially dilutive instruments as of June 30, 2023 and December 31, 2022, and, thus, anti-dilution issues are not applicable.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_846_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zV9dr7Mkvjhi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_860_zSAbaSivdMvg">Fair Value of Financial Instruments</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company’s balance sheets include certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Level 3 - Inputs that are both significant to the fair value measurement and unobservable.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2023 and December 31, 2022. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash and cash equivalent, restricted cash, accounts receivable, advances to vendors, inventories, other current assets, accounts payables, advances from customers and other current liabilities. For short term borrowings and notes payable, the Company concluded the carrying values are a reasonable estimate of fair values because of the short period of time between the origination and repayment and as their stated interest rates approximate current rates available.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_844_eus-gaap--LesseeLeasesPolicyTextBlock_znXgn4F5WD1a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_864_zyS1S4jkrXGe">Operating Leases</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company adopted ASC 842 since its inception. The Company determines if an arrangement is or contains a lease at inception. Operating leases with lease terms of more than 12 months are included in operating lease assets, accrued and other current liabilities, and long-term operating lease liabilities on its consolidated balance sheet. Operating lease assets represent its right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments over the lease term. Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using its incremental borrowing rate. Lease expense is recognized on a straight-line basis over the lease term.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_843_ecustom--RelatedPartyPolicyTextBlock_zslbg8A37PNf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_865_z0nBN47Mjkah">Related Parties</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. The Company follows ASC 850, <i>Related Party Disclosures,</i> for the identification of related parties and disclosure of related party transactions.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_843_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zEhw5sxHzJJf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_867_zrMV9VQuLN0e">Foreign Currency</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Amounts reported in the condensed consolidated financial statements are stated in United States dollars, unless stated otherwise. The Company’s subsidiary in the PRC use the Chinese renminbi (RMB) as their functional currency and the holding company - RLI uses the United States dollar as their functional currency. For subsidiaries that use the local currency as the functional currency, all assets and liabilities are translated to United States dollars using exchange rates in effect at the end of the respective periods and the results of operations have been translated into United States dollars at the weighted average rates during the periods the transactions were recognized. Resulting translation gains or losses are recognized as a component of other comprehensive income (loss).</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In accordance with ASC 830, Foreign Currency Matters (ASC 830), the Company translates the assets and liabilities into United States dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from RMB into United States dollar are recorded in stockholders’ equity as part of accumulated other comprehensive income. Further, foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Gains and losses on those foreign currency transactions are included in other income (expense), net for the period in which exchange rates change.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_846_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_z6O9ybvTqZg4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86F_zbBzEaGRHTr6">Comprehensive Income (Loss)</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company accounts for comprehensive income (loss) in accordance with ASC 220, <i>Income Statement-Reporting Comprehensive Income </i>(ASC 220). Under ASC 220, the Company is required to report comprehensive income (loss), which includes net income (loss) as well as other comprehensive income (loss). The only significant component of accumulated other comprehensive income (loss) as of June 30, 2023 and December 31, 2022 is the currency translation adjustment.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84E_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zhhUOWS86Hec" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86A_zAaUZzyn2Jrb">Segment Information</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Operating segments are defined as components of a company about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the executive team, which is comprised of the chief executive officer and the chief financial officer. Based on the financial information presented to and reviewed by the chief operating decision maker in deciding how to allocate the resources and in assessing the performance, the Company has determined that it has two operating and reporting segments based on sales channels – direct supply and indirect supply as of June 30, 2023 and December 31, 2022 and for three and six months ended.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zfR97ZHRTeb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86E_zAO3t3JrXIai">Adoption of New Accounting Standards</span> </span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses”. The standard, including subsequently issued amendments (ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10 and ASU 2019-11), requires a financial asset measured at amortized cost basis, such as accounts receivable and certain other financial assets, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies defined by the SEC to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted ASU No. 2016-13 effective on January 1, 2023. Adoption of the new standard did not have impact on the Company’s consolidated financial statements or financial disclosure since all accounts receivable as of January 1, 2023 were due from Xinsen Group, which were deemed no credit loss issue.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_848_ecustom--AccountingStandardsIssuedButNotYetAdoptedPolicyTextBlock_zvPX0Tby4AI6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_869_zXxAl1LbL3J5">Accounting Standards Issued but Not Yet Adopted</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">ASUs issued but not yet adopted were assessed and determined to be not applicable or are not expected to have a material impact on our consolidated financial statements or financial statement disclosures.</span></p> <p id="xdx_853_zz33M2b9It3h" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84A_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z90sQUcRA1wh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_863_zFdyBIrV80Ie">Basis of Presentation</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">This summary of significant accounting policies is presented to assist in understanding the Company’s financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. With respect to the unaudited financial statements as of and for the six months ended June 30, 2023, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ended December 31, 2023.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The consolidated financial statements include the accounts of Rubber Leaf Inc, the parent company and its wholly owned subsidiary in China - Rubber Leaf Sealing Products (Zhejiang) Co., Ltd. All intercompany transactions and balances were eliminated in consolidation.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84B_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zadFYxHiKxZi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_867_zoU00TASyiy2">Reclassifications</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Certain amounts on the prior year’s consolidated balance sheets, consolidated statements of operations and cash flows were reclassified to conform to current-year presentation, with no effect on ending stockholders’ equity.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_847_eus-gaap--UseOfEstimates_zHLrabvGttqd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86D_zERsXYiTmonf">Use of Estimates</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. Signiant estimates are used in the collectability of accounts receivable, the useful lives and impairment of property and equipment, the valuation of deferred tax assets, inventories reserve and provisions for income taxes, among others.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84E_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zXUnMXKrzVA1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86B_zTRL8fZ9Efqf">Revenue Recognition</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company adopted Accounting Standards Update (“ASU”) 2014-09, Accounting Standards Codification Topic 606, <i>Revenue from Contracts with Customers</i> (ASC 606) since July 2019. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied. The Company applies the five-step model to sales contracts.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company’s revenue is mainly generated from selling the synthetic rubber, rubber compound, car window seals, auto parts under two models of supply. The Company has disaggregated revenue at the sales channels through direct supply model and indirect supply model.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Model A: Direct supply model. Upon passing the on-site inspections of automobile Original Equipment Manufacturers (the “OEMs”), RLSP is listed at the OEMs’ directories being one of their first-tier suppliers who will purchase raw materials, produce final products independently, and deliver finished products to the OEMs’ warehouses directly. RLSP satisfies its performance obligation when its finished products are delivered to the OEMs’ warehouses and a follow-up quality inspection is accepted by the OEMs. Meanwhile, the OEMs will also request product replacement for disqualified products. The ownership and control of our finished products are transferred to our customers as soon as the products pass the inspection and acceptance into the warehouses of the OEMs. Our revenue will be recognized once the control of our products has been transferred to our customers, and the payments will be paid by the OEMs directly.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Model B: Indirect supply model. RLSP received the purchase orders from our related parties-Shanghai Xinsen Import &amp; Export Co., Ltd (“Shanghai Xinsen”) and Xinsen Sealing Products (Hangzhou) Co., Ltd (“Hangzhou Xinsen”) (collectively named as “Xinsen Group” for two companies together). Branded Automobile Manufacturers (the “Auto Manufacturers”) send a lump sum purchase orders of the whole vehicle rubber and plastic auto parts of one model to their first-tier suppliers, who then subcontract rubber and plastic seals to Xinsen Group. Xinsen Group is a certified second-tier supplier of Auto Manufacturers who then subcontract some products that they do not have capability to manufacture to RLSP. Once purchase orders are received, RLSP will purchase rubber materials from our venders and outsourced the purchase orders to third party manufacturer for work-in-process products (“WIP”) or finished products in its entirely based on management’s decision under the operating circumstances. RLSP has two forms of outsourced processing under Model B:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">1)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RLSP purchases raw materials and subcontracts the third-party manufacturers to produce WIP. Once WIP is finished and delivered to RLSP’s warehouse, RLSP performs some manual processes, such as welding and constructing in order to meet the specification of the purchase orders, the final products are concluded after strict quality inspection.</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">2)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RLSP purchases raw materials and subcontracts third party manufacturers to produce finished products. RLSP will perform the responsibilities to trace and observe each step of production from the third-party manufacturers.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The finished products will be delivered to the first-tier suppliers’ warehouses, the downstream customers of Xinsen Group either from RLSP or third-party manufacturers’ locations. Xinsen Group will assign inspectors and perform quality inspections when the finished products are delivered. RLSP satisfies its performance obligation when the finished products are delivered to Xinsen Group’s customers and the quality inspection is qualified performed by Xinsen Group. Meanwhile, Xinsen Group will also request product replacement for disqualified products. Once the quality and quantity are confirmed and finished products are acceptable into the warehouses of Xinsen Group’s customers, receiving notes will be provided by Xinsen Group’s customers, then to RLSP as proof of delivery. The date of receiving notes signed is the time that RLSP transfers ownership and control of the finished products under model B to Xinsen Group then indirectly to the first-tier suppliers. RLSP recognizes revenue on the dates when receiving notes are signed by Xinsen Group’s customers.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Under both supply models, payment of products is generally made within a 30-day term upon receiving notes signed by our customers. Extended payment terms are provided on a limited basis not to exceed two months. After the customer receives the finished products, if the customer finds quality problems before installing them to the vehicles, the customer is able to inform RLSP and request replacement for the same type products. Since November 2021, RLSP has terminated warranty assurance to our customers due to the characteristics of our products.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84F_eus-gaap--CostOfSalesPolicyTextBlock_z4inhnusSIe1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_868_zkfcZNaWdaFa">Cost of revenue</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Cost of revenues is comprised of raw materials consumed, manufacturing costs, third party logistics and distribution costs including packaging, freight, transportation, shipping and handling costs, and inventory adjustment due to the defectives and inventory count.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84C_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zQ2l9V5QgiHb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86A_zfZyWjrIOrji">Cash and Cash Equivalents</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Cash and cash equivalents include bank deposits and liquid investments with original maturities of three months or less as of the purchase date of such investments.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84C_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zx6lA5cTyUdk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_866_zgUX10ebPPFg">Restricted cash</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company had notes payable outstanding with Ningbo bank and was required to keep certain amounts on deposit that were subject to withdrawal restrictions. The notes payable are generally short term in nature due to its maturity period of six months or less, thus restricted cash was classified as a current asset.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_za9jKy6rCiof" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_863_zlhC7mWBVO16">Concentration risk</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company maintains cash with banks in the United States of America (“USA”) and PRC. Should any bank holding cash become insolvent, or if the Company is otherwise unable to withdraw funds, the Company would lose the cash with that bank; however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. In China, a depositor has up to RMB<span id="xdx_903_ecustom--CashFSDInsuredAmount_iI_uRMB_c20230630_znKL6aGSwBOa" title="FSD insured amonut">500,000</span> insured by the People’s Bank of China Financial Stability Bureau (“FSD”). In the United States, the standard insurance amount is $<span id="xdx_909_eus-gaap--CashFDICInsuredAmount_iI_c20230630_zNfqgBUGr0Wb" title="FDIC insured amount">250,000</span> per depositor in a bank insured by the Federal Deposit Insurance Corporation (“FDIC”).</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Financial instruments that potentially subject the Company to significant concentrations of credit risk are cash and cash equivalents and accounts receivable. As of June 30, 2023 and December 31, 2022, $<span id="xdx_903_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_dxL_c20230630_z3XkXJPjSwg3" title="Cash and restricted cash::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0559">Nil</span></span> and $<span id="xdx_904_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iI_c20221231_z2VxtAJ7o2yk" title="Cash and restricted cash">1,240,272</span> of the Company’s cash and restricted cash held by financial institutions were uninsured, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i>Major customers</i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_895_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_z690B1hMHau7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, as well as three months ended June 30, 2023 and 2022 the Company’s revenues from two major customers accounted more than 10% of the total revenue were as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span id="xdx_8B0_zdzWpaFy5Upj" style="display: none">Schedule of Concentration Risk Percent</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Six months ended <br/> June 30, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Three months ended <br/> June 30, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Six months ended <br/> June 30, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Three months ended <br/> June 30, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; color: Black; text-align: left">Customer B</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_983_eus-gaap--Revenues_c20230101__20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zaSqQcCJWgw6" style="width: 7%; color: Black; text-align: right" title="Revenues">3,358,311</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zhyufo54mwuj" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">73</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_981_eus-gaap--Revenues_c20230401__20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zSPqJtr450p4" style="width: 7%; color: Black; text-align: right" title="Revenues">1,910,202</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zmqnbHegrbee" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">84</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">$</p></td><td id="xdx_987_eus-gaap--Revenues_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zjIWWanR8g12" style="width: 7%; color: Black; text-align: right" title="Revenues">3,719,213</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zUNYRhcoRGN3" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">63</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_c20220401__20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zejS0eS9g5ma" style="width: 7%; color: Black; text-align: right" title="Revenues">1,205,594</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_z4p6wJsiv6h1" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">55</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Customer A</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_c20230101__20230630__srt--MajorCustomersAxis__custom--CustomerAMember_z3OlWfxkOxJb" style="color: Black; text-align: right" title="Revenues">1,267,970</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zSl6M2Jkvyad" style="color: Black; text-align: right" title="Concentrationr risk, percentage">27</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--Revenues_c20230401__20230630__srt--MajorCustomersAxis__custom--CustomerAMember_zfB3KFzPvvAa" style="color: Black; text-align: right" title="Revenues">370,538</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_znpTXV0bh7Xk" style="color: Black; text-align: right" title="Concentrationr risk, percentage">16</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_985_eus-gaap--Revenues_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerAMember_zipgf1JYmFmb" style="color: Black; text-align: right" title="Revenues">2,197,969</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zKEKSkWzlrA5" style="color: Black; text-align: right" title="Concentrationr risk, percentage">37</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_986_eus-gaap--Revenues_c20220401__20220630__srt--MajorCustomersAxis__custom--CustomerAMember_zem0xojwBsUj" style="color: Black; text-align: right" title="Revenues">976,845</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_dp_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zisOgUTBpaNg" style="color: Black; text-align: right" title="Concentrationr risk, percentage">45</td><td style="color: Black; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> June 30, 2023</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> June 30, 2022</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; text-align: left">Customer B</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_c20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zZDzCoTkA9Zg" style="width: 13%; text-align: right" title="Accounts receivable">4,164,544</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zzL7PRjNMFt3" style="width: 13%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--AccountsReceivableNetCurrent_iI_c20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zgnAi97OoRX8" style="width: 13%; text-align: right" title="Accounts receivable">3,883,504</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_ztYBaGEj5nY6" style="width: 13%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer A</td><td> </td> <td style="text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">$</p></td><td id="xdx_98E_eus-gaap--AccountsReceivableNetCurrent_iI_c20230630__srt--MajorCustomersAxis__custom--CustomerAMember_ziUtjuKH9x02" style="text-align: right" title="Accounts receivable"><span style="-sec-ix-hidden: xdx2ixbrl0605">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_z6Q6dL74q3kg" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0607">-</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AccountsReceivableNetCurrent_iI_c20220630__srt--MajorCustomersAxis__custom--CustomerAMember_z0CvgrOhkiFi" style="text-align: right" title="Accounts receivable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0609">-</span></span></td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_ztLFclsbTDt9" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0611">-</span></span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Customer A: eGT New Energy Automotive Co., Ltd. (“eGT” ), an unrelated party.</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Customer B: Shanghai Xinsen Import &amp; Export Co., Ltd (“Shanghai Xinsen”), a related party that sells RLSP’s products to Shanghai Hongyang Sealing Co., Ltd. (“Shanghai Hongyang”) and Wuhu Huichi Auto Parts Co., Ltd. (“Wuhu Huichi”), two unrelated parties of RLSP and the Company, and certified first-tier suppliers of Auto Manufacturers.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i></i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i>Major vendors</i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, as well as three months ended June 30, 2023 and 2022, the Company made purchases from the major vendors accounted more than 10% of the total purchases were as following:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six months ended <br/> June 30, 2023</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three months ended <br/> June 30, 2023</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six months ended <br/> June 30, 2022</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three months ended <br/> June 30, 2022</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 12%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor A</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zTVDGzRNimS7" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,864,667</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zY5lrUq0EzJi" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">90</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98D_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zkucKZqHQ3F5" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,956,561</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zrhzSJKGNCpb" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">96</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ </span></td><td id="xdx_980_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zH4Ifv3XMASk" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,793,171</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zDh2UXMFRdOk" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">68</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_980_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zUXpRzWujSq3" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,236,093</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zo4iPQNsG2Y9" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor B</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_986_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zPcqBQmvd2Nb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0629">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zd7kDSNHFc83" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0631">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zq6iraNVwsC7" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0633">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zChdYNfwkkFc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0635">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">$</td><td id="xdx_988_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zf0Hv5KdRhCc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,348</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zAHBTTrRrGw" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0639">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zGhq5KUq4vC4" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,348</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_z4DfOGfP5aH9" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0643">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor C</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zu9dDQjlsT14" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">441,441</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zJ9htmPd90Ib" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z5s5PATdD9r9" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,052</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zEwGLPyovgth" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zpe3deElqO9d" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,127,791</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zOcX1T5kEoZb" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98F_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zVtJ28YZpA34" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">543,838</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zItQyLYZ6KRc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">As of <br/> June 30, 2023</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">As of <br/> June 30, 2022</td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; color: Black; text-align: left">Vendor A</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right"><span id="xdx_90D_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zngXvVvnVNUd" title="Accounts payable">2,406,182</span></td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zELkk8awa8A5" style="width: 13%; color: Black; text-align: right" title="Concentrationr risk, percentage">34</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right"><span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zD5MNrLegBK1" title="Accounts payable">2,115,497</span></td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zK8VbTdISDW2" style="width: 13%; color: Black; text-align: right" title="Concentrationr risk, percentage">21</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Vendor B</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_ze7X8TtC0Vkb" title="Accounts payable">4,595,664</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zjegoNK17SH7" style="color: Black; text-align: right" title="Concentrationr risk, percentage">66</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_900_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zUhOoF26hna9" title="Accounts payable">6,835,124</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zToRUpD7nPwl" style="color: Black; text-align: right" title="Concentrationr risk, percentage">66</td><td style="color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Vendor C</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_904_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zuxlaBM6OVnj" title="Accounts payable"><span style="-sec-ix-hidden: xdx2ixbrl0677">-</span></span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zB2Eydo10rYh" style="color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0679">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_903_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zXxkWIWa0S01" title="Accounts payable">49,857</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zyx7c7N0BrI9" style="color: Black; text-align: right" title="Concentrationr risk, percentage">0</td><td style="color: Black; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor A: Shanghai Haozong Rubber &amp; Plastic Technology Co., Ltd. (“Shanghai Haozong”), a related party. </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor B: Shanghai Huaxin Economic and Trade Co., Ltd. (“Shanghai Huaxin”), a related party, purchase amounts and accounts payable balances include retainage payables. </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor C: Shanghai Yongliansen Import and Export Trading Company (“Yongliansen”), a related party.</span></td></tr> </table> <p id="xdx_8A9_z2MiO3ROx51f" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 500000 250000 1240272 <p id="xdx_895_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_z690B1hMHau7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, as well as three months ended June 30, 2023 and 2022 the Company’s revenues from two major customers accounted more than 10% of the total revenue were as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span id="xdx_8B0_zdzWpaFy5Upj" style="display: none">Schedule of Concentration Risk Percent</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Six months ended <br/> June 30, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Three months ended <br/> June 30, 2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Six months ended <br/> June 30, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Three months ended <br/> June 30, 2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Amount</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td><td style="text-align: center; color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Revenue</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; color: Black; text-align: left">Customer B</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_983_eus-gaap--Revenues_c20230101__20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zaSqQcCJWgw6" style="width: 7%; color: Black; text-align: right" title="Revenues">3,358,311</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zhyufo54mwuj" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">73</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_981_eus-gaap--Revenues_c20230401__20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zSPqJtr450p4" style="width: 7%; color: Black; text-align: right" title="Revenues">1,910,202</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zmqnbHegrbee" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">84</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">$</p></td><td id="xdx_987_eus-gaap--Revenues_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zjIWWanR8g12" style="width: 7%; color: Black; text-align: right" title="Revenues">3,719,213</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zUNYRhcoRGN3" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">63</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_c20220401__20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zejS0eS9g5ma" style="width: 7%; color: Black; text-align: right" title="Revenues">1,205,594</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_z4p6wJsiv6h1" style="width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage">55</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Customer A</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98D_eus-gaap--Revenues_c20230101__20230630__srt--MajorCustomersAxis__custom--CustomerAMember_z3OlWfxkOxJb" style="color: Black; text-align: right" title="Revenues">1,267,970</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zSl6M2Jkvyad" style="color: Black; text-align: right" title="Concentrationr risk, percentage">27</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--Revenues_c20230401__20230630__srt--MajorCustomersAxis__custom--CustomerAMember_zfB3KFzPvvAa" style="color: Black; text-align: right" title="Revenues">370,538</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_znpTXV0bh7Xk" style="color: Black; text-align: right" title="Concentrationr risk, percentage">16</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_985_eus-gaap--Revenues_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerAMember_zipgf1JYmFmb" style="color: Black; text-align: right" title="Revenues">2,197,969</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zKEKSkWzlrA5" style="color: Black; text-align: right" title="Concentrationr risk, percentage">37</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_986_eus-gaap--Revenues_c20220401__20220630__srt--MajorCustomersAxis__custom--CustomerAMember_zem0xojwBsUj" style="color: Black; text-align: right" title="Revenues">976,845</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_dp_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zisOgUTBpaNg" style="color: Black; text-align: right" title="Concentrationr risk, percentage">45</td><td style="color: Black; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> June 30, 2023</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/> June 30, 2022</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total Accounts Receivable</td><td style="padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; text-align: left">Customer B</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_c20230630__srt--MajorCustomersAxis__custom--CustomerBMember_zZDzCoTkA9Zg" style="width: 13%; text-align: right" title="Accounts receivable">4,164,544</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zzL7PRjNMFt3" style="width: 13%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--AccountsReceivableNetCurrent_iI_c20220630__srt--MajorCustomersAxis__custom--CustomerBMember_zgnAi97OoRX8" style="width: 13%; text-align: right" title="Accounts receivable">3,883,504</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_ztYBaGEj5nY6" style="width: 13%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer A</td><td> </td> <td style="text-align: left"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">$</p></td><td id="xdx_98E_eus-gaap--AccountsReceivableNetCurrent_iI_c20230630__srt--MajorCustomersAxis__custom--CustomerAMember_ziUtjuKH9x02" style="text-align: right" title="Accounts receivable"><span style="-sec-ix-hidden: xdx2ixbrl0605">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_z6Q6dL74q3kg" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0607">-</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--AccountsReceivableNetCurrent_iI_c20220630__srt--MajorCustomersAxis__custom--CustomerAMember_z0CvgrOhkiFi" style="text-align: right" title="Accounts receivable"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0609">-</span></span></td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_ztLFclsbTDt9" style="text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0611">-</span></span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Customer A: eGT New Energy Automotive Co., Ltd. (“eGT” ), an unrelated party.</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Customer B: Shanghai Xinsen Import &amp; Export Co., Ltd (“Shanghai Xinsen”), a related party that sells RLSP’s products to Shanghai Hongyang Sealing Co., Ltd. (“Shanghai Hongyang”) and Wuhu Huichi Auto Parts Co., Ltd. (“Wuhu Huichi”), two unrelated parties of RLSP and the Company, and certified first-tier suppliers of Auto Manufacturers.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i></i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i>Major vendors</i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, as well as three months ended June 30, 2023 and 2022, the Company made purchases from the major vendors accounted more than 10% of the total purchases were as following:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six months ended <br/> June 30, 2023</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three months ended <br/> June 30, 2023</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Six months ended <br/> June 30, 2022</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three months ended <br/> June 30, 2022</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of Total Purchase</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 12%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor A</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zTVDGzRNimS7" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,864,667</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zY5lrUq0EzJi" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">90</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98D_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zkucKZqHQ3F5" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,956,561</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zrhzSJKGNCpb" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">96</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$ </span></td><td id="xdx_980_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zH4Ifv3XMASk" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,793,171</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zDh2UXMFRdOk" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">68</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_980_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zUXpRzWujSq3" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,236,093</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zo4iPQNsG2Y9" style="font: 10pt Times New Roman, Times, Serif; width: 7%; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor B</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_986_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zPcqBQmvd2Nb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0629">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zd7kDSNHFc83" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0631">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zq6iraNVwsC7" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0633">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zChdYNfwkkFc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0635">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left">$</td><td id="xdx_988_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zf0Hv5KdRhCc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,348</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zAHBTTrRrGw" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0639">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zGhq5KUq4vC4" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,348</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_z4DfOGfP5aH9" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0643">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor C</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zu9dDQjlsT14" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">441,441</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zJ9htmPd90Ib" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--CostOfGoodsAndServicesSold_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z5s5PATdD9r9" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,052</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zEwGLPyovgth" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zpe3deElqO9d" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,127,791</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zOcX1T5kEoZb" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98F_eus-gaap--CostOfGoodsAndServicesSold_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zVtJ28YZpA34" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Cost of goods"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">543,838</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zItQyLYZ6KRc" style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</span></td><td style="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">As of <br/> June 30, 2023</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">As of <br/> June 30, 2022</td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center">% of Total Accounts Payable</td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 32%; color: Black; text-align: left">Vendor A</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right"><span id="xdx_90D_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zngXvVvnVNUd" title="Accounts payable">2,406,182</span></td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zELkk8awa8A5" style="width: 13%; color: Black; text-align: right" title="Concentrationr risk, percentage">34</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right"><span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zD5MNrLegBK1" title="Accounts payable">2,115,497</span></td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zK8VbTdISDW2" style="width: 13%; color: Black; text-align: right" title="Concentrationr risk, percentage">21</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Vendor B</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_901_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_ze7X8TtC0Vkb" title="Accounts payable">4,595,664</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zjegoNK17SH7" style="color: Black; text-align: right" title="Concentrationr risk, percentage">66</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_900_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zUhOoF26hna9" title="Accounts payable">6,835,124</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zToRUpD7nPwl" style="color: Black; text-align: right" title="Concentrationr risk, percentage">66</td><td style="color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Vendor C</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_904_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zuxlaBM6OVnj" title="Accounts payable"><span style="-sec-ix-hidden: xdx2ixbrl0677">-</span></span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zB2Eydo10rYh" style="color: Black; text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0679">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td style="color: Black; text-align: right"><span id="xdx_903_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zXxkWIWa0S01" title="Accounts payable">49,857</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zyx7c7N0BrI9" style="color: Black; text-align: right" title="Concentrationr risk, percentage">0</td><td style="color: Black; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor A: Shanghai Haozong Rubber &amp; Plastic Technology Co., Ltd. (“Shanghai Haozong”), a related party. </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor B: Shanghai Huaxin Economic and Trade Co., Ltd. (“Shanghai Huaxin”), a related party, purchase amounts and accounts payable balances include retainage payables. </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Vendor C: Shanghai Yongliansen Import and Export Trading Company (“Yongliansen”), a related party.</span></td></tr> </table> 3358311 0.73 1910202 0.84 3719213 0.63 1205594 0.55 1267970 0.27 370538 0.16 2197969 0.37 976845 0.45 4164544 1 3883504 1 3864667 0.90 1956561 0.96 3793171 0.68 1236093 0.69 6348 6348 441441 0.10 72052 0.04 1127791 0.20 543838 0.30 2406182 0.34 2115497 0.21 4595664 0.66 6835124 0.66 49857 0 <p id="xdx_84A_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zS6kWhAUcrfa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Accounts Receivable</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Accounts receivables are reported at their net realizable value. Any value adjustments are booked directly against the relevant receivable. We have standard payment terms that generally require payment within approximately 30 to 60 days. Management performs ongoing credit evaluations of its customers. An allowance for potentially uncollectible accounts is provided based on history, economic conditions, and composition of the accounts receivable started from January 1, 2023, the first date the Company adopted ASC 2016-13. As of June 30, 2023 and December 31, 2022 no credit risk identified by the management and no allowance for doubtful accounts deemed necessary.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_849_eus-gaap--InventoryPolicyTextBlock_zlVVjAw2141i" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Inventories</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Inventories consist of raw materials and finished products, and are stated at the lower of cost or net realizable value. Cost is calculated by applying the weighted -average method and physically applied first-in-first-out method (FIFO) in inventory stock in and out. The Company regularly reviews inventory quantities on hand and writes down to its net realizable value any inventory that it believes to be impaired. Management considers forecast demand in relation to the inventory on hand, competitiveness of product offerings, market conditions and product life cycles when determining excess and obsolescence and net realizable value adjustments. Once inventory is written down and a new cost basis is established, it is not written back up if demand increases.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84B_ecustom--AdvancesToVendorsPolicyPolicyTextBlock_z4s3jsQIRSzl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Advances to vendors</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">From time to time, we paid advances to our vendors in order to secure our purchase orders or as retainers required pursuant to various purchase agreements related to production and the 2^nd production lines currently under construction. The advances have no interest bearing, normally settled along with purchase transactions within 60 to 180 days depending on market condition, and around 365 days for construction projects and/or equipment purchase.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></p> <p id="xdx_845_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zlZS6ziYt8Fl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline">Property and equipment</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Property and equipment are initially recorded at their historical cost. Repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the following estimated useful lives of the depreciable assets:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Land use rights: <span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zoz9VII6Huf6" title="Property and equipment, useful life">50</span> years</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Leasehold improvement: <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zoQwsREuidvj" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2023%23UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember"><span style="-sec-ix-hidden: xdx2ixbrl0694">shorter of the estimate useful life or lease term</span></span></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Factory equipment: <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zH3k3FarMW6f" title="Property and equipment, useful life">3</span>-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_z2CcM41K9Ic3" title="Property and equipment, useful life">36</span> years</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Auto vehicles: <span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AutoVehiclesMember_zIexOLdRUe83" title="Property and equipment, useful life">4</span> years</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Office equipment and furniture: <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zqOXCQPefFTb" title="Property and equipment, useful life">4</span>-<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_ziEdsePJRlha" title="Property and equipment, useful life">10</span> years</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Construction in progress (“CIP”) includes pre-construction costs, construction costs, interest incurred on financing, amortization of land use right during the construction period, insurance and overhead costs related to construction. Interest of borrowings specific for the construction project and amortization of land use rights are capitalized under CIP when development activities commence, and end when the qualifying assets are ready for their intended use.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; background-color: white; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> P50Y P3Y P36Y P4Y P4Y P10Y <p id="xdx_844_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zKNITcftcRJ5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86E_zxJaveKdNIJ4">Intangible Assets</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">All land in the PRC is owned by the PRC government and cannot be sold to any individual or company. The Company has recorded the amounts paid to the PRC government when acquired long-term interests of land use rights under intangible assets. This type of arrangement is common for the use of land in the PRC. The Company amortizes land use rights based on the term of the respective land use rights granted, which generally ranges from <span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20230630__srt--RangeAxis__srt--MinimumMember_zTIsnHOlsTM3" title="Intangible asset useful life">15</span> to <span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20230630__srt--RangeAxis__srt--MaximumMember_z3D4TOpBJbz1" title="Intangible asset useful life">50</span> years. The land use rights of Collective Lands has unlimited useful lifetime.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> P15Y P50Y <p id="xdx_84C_eus-gaap--DebtPolicyTextBlock_zl71t366Ao7d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86B_zjQpg8ihUGL3">Notes payable</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Short-term notes payable are lines of credit extended by banks. The banks in-turn issue the Company a bankers acceptance notes, which can be endorsed and assigned to vendors as payments for purchases. These short-term notes payable bear no interest and is guaranteed by the bank for its complete face value and usually matures within three to six-month period. The banks usually require the Company to deposit a certain amount of cash at the bank as a guaranteed deposit, which is classified on the balance sheet as restricted cash.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">As of June 30, 2023 and December 31, 2022, RLSP held $<span id="xdx_900_eus-gaap--NotesPayable_iI_dxL_c20230630_zwUnBVoj28Gc" title="Notes payable::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0714">Nil</span></span> and $<span id="xdx_905_eus-gaap--NotesPayable_iI_c20221231_z2kRQog7xb75" title="Notes payable">1,312,362 </span>notes payable issued by Ningbo bank with various maturity dates up to June 30, 2023. The same amount of deposits was required by the banks and classified as restricted cash as of June 30, 2023 and December 31, 2022.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 1312362 <p id="xdx_848_eus-gaap--MajorCustomersPolicyPolicyTextBlock_z1lnLAThhDl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_860_z0k19AEwna5j">Advances from customers</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">From time to time, we receive advances from our customers, which are made normally under sales frame contracts, each sales transaction will be initiated by purchase orders received under the frame contracts. The advances have no interest bearing, normally settled along with purchase/sales transactions within 60 to180 days.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84B_ecustom--RetainagePayablesPolicyPolicyTextBlock_zZ9nypxreDAj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_868_zVNP563agZIk">Retainage Payables</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span id="xdx_90F_ecustom--RetainagePayableDescription_c20230101__20230630_zmapaH2UKTt9" title="Retainage payable description">For equipment purchased from Shanghai Huaxin in the PRC, a related party, by RLSP in the PRC, the Company typically retains a portion of the purchase invoices, typically 3-5%, for 12 to 24 months to ensure the quality of equipment after installation during the qualifying warranty period.</span> As of June 30, 2023 and December 31, 2022, retainage payables were $<span id="xdx_90B_ecustom--RetainagePayable_iI_dxL_c20230630_zn4HWCLpV183" title="Retainage payable::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0724">Nil</span></span> and $<span id="xdx_90E_ecustom--RetainagePayable_iI_c20221231_za19RHRJi8j4" title="Retainage payable">38,138</span> with maturity dates various to June 30, 2023 and 2022, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> For equipment purchased from Shanghai Huaxin in the PRC, a related party, by RLSP in the PRC, the Company typically retains a portion of the purchase invoices, typically 3-5%, for 12 to 24 months to ensure the quality of equipment after installation during the qualifying warranty period. 38138 <p id="xdx_849_eus-gaap--IncomeTaxPolicyTextBlock_ztj0ijLx1Kv4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86E_zVfRGKystUZ5">Income Taxes</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">We are governed by the Income Tax Law of the PRC and the United States. The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Accounting for Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The 2017 Tax Reform Act permanently reduces the U.S. corporate income tax rate to a <span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_c20230101__20230630_zKKUjMZPrEW6" title="Corporate tax rate">21</span>% flat rate. In addition, the 2017 Tax Reform Act also creates a new requirement that certain income (i.e., Global Intangible Low-Taxed Income (“GILTI”)) earned by controlled foreign corporations (“CFCs”) must be included in the gross income of the CFCs’ U.S. shareholder income. The tax law in PRC applies an income tax rate of <span id="xdx_90A_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxContingencies_pid_dp_c20230101__20230630_zin3fdnPY7n7" title="PRC applies, income tax rate">25</span>% to all enterprises. The Company’s subsidiary does not receive any preferential tax treatment from local government.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 0.21 0.25 <p id="xdx_849_eus-gaap--IncomeTaxUncertaintiesPolicy_zht28sbaSuY3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86F_zgB1DSyXlgVi">Value added tax</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.25in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company is subject to value added tax (“VAT”). The applicable VAT rate is <span id="xdx_905_ecustom--ValueAddedTaxRate_pid_dp_c20230101__20230630_znpYZ5d9xjJ7" title="Value added tax rate">13</span>% for products sold in the PRC for the years of 2023 and 2022. The amount of VAT liability is determined by applying the applicable tax rate to the amount of goods sold (output VAT) less VAT accrued on purchases made with the relevant supporting invoices (input VAT). Sales and purchases are recorded net of VAT (the amount of VAT is excluded from revenues and costs) collected and paid as the Company acts as an agent for the government.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 0.13 <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_zAZPQHvyQFbf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_869_zHZ8zlNSCd3l">Earnings Per Share</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company computes basic and diluted earnings per share amounts in accordance with ASC Topic 260, Earnings per Share. Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Pursuant to ASC 260-10-55, EPS computations should be based on the facts and circumstances of the transaction for reorganization. The Company calculated its EPS retrospectively akin to a normal share issuance as if the reorganization incurred from the inception.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company does not have any potentially dilutive instruments as of June 30, 2023 and December 31, 2022, and, thus, anti-dilution issues are not applicable.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_846_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zV9dr7Mkvjhi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_860_zSAbaSivdMvg">Fair Value of Financial Instruments</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company’s balance sheets include certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.</span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Level 3 - Inputs that are both significant to the fair value measurement and unobservable.</span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of June 30, 2023 and December 31, 2022. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash and cash equivalent, restricted cash, accounts receivable, advances to vendors, inventories, other current assets, accounts payables, advances from customers and other current liabilities. For short term borrowings and notes payable, the Company concluded the carrying values are a reasonable estimate of fair values because of the short period of time between the origination and repayment and as their stated interest rates approximate current rates available.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_844_eus-gaap--LesseeLeasesPolicyTextBlock_znXgn4F5WD1a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_864_zyS1S4jkrXGe">Operating Leases</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company adopted ASC 842 since its inception. The Company determines if an arrangement is or contains a lease at inception. Operating leases with lease terms of more than 12 months are included in operating lease assets, accrued and other current liabilities, and long-term operating lease liabilities on its consolidated balance sheet. Operating lease assets represent its right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments over the lease term. Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using its incremental borrowing rate. Lease expense is recognized on a straight-line basis over the lease term.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_843_ecustom--RelatedPartyPolicyTextBlock_zslbg8A37PNf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_865_z0nBN47Mjkah">Related Parties</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. The Company follows ASC 850, <i>Related Party Disclosures,</i> for the identification of related parties and disclosure of related party transactions.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_843_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zEhw5sxHzJJf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_867_zrMV9VQuLN0e">Foreign Currency</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Amounts reported in the condensed consolidated financial statements are stated in United States dollars, unless stated otherwise. The Company’s subsidiary in the PRC use the Chinese renminbi (RMB) as their functional currency and the holding company - RLI uses the United States dollar as their functional currency. For subsidiaries that use the local currency as the functional currency, all assets and liabilities are translated to United States dollars using exchange rates in effect at the end of the respective periods and the results of operations have been translated into United States dollars at the weighted average rates during the periods the transactions were recognized. Resulting translation gains or losses are recognized as a component of other comprehensive income (loss).</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In accordance with ASC 830, Foreign Currency Matters (ASC 830), the Company translates the assets and liabilities into United States dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from RMB into United States dollar are recorded in stockholders’ equity as part of accumulated other comprehensive income. Further, foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Gains and losses on those foreign currency transactions are included in other income (expense), net for the period in which exchange rates change.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_846_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_z6O9ybvTqZg4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86F_zbBzEaGRHTr6">Comprehensive Income (Loss)</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company accounts for comprehensive income (loss) in accordance with ASC 220, <i>Income Statement-Reporting Comprehensive Income </i>(ASC 220). Under ASC 220, the Company is required to report comprehensive income (loss), which includes net income (loss) as well as other comprehensive income (loss). The only significant component of accumulated other comprehensive income (loss) as of June 30, 2023 and December 31, 2022 is the currency translation adjustment.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84E_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zhhUOWS86Hec" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86A_zAaUZzyn2Jrb">Segment Information</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Operating segments are defined as components of a company about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the executive team, which is comprised of the chief executive officer and the chief financial officer. Based on the financial information presented to and reviewed by the chief operating decision maker in deciding how to allocate the resources and in assessing the performance, the Company has determined that it has two operating and reporting segments based on sales channels – direct supply and indirect supply as of June 30, 2023 and December 31, 2022 and for three and six months ended.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zfR97ZHRTeb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_86E_zAO3t3JrXIai">Adoption of New Accounting Standards</span> </span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses”. The standard, including subsequently issued amendments (ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10 and ASU 2019-11), requires a financial asset measured at amortized cost basis, such as accounts receivable and certain other financial assets, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies defined by the SEC to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted ASU No. 2016-13 effective on January 1, 2023. Adoption of the new standard did not have impact on the Company’s consolidated financial statements or financial disclosure since all accounts receivable as of January 1, 2023 were due from Xinsen Group, which were deemed no credit loss issue.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_848_ecustom--AccountingStandardsIssuedButNotYetAdoptedPolicyTextBlock_zvPX0Tby4AI6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span style="text-decoration: underline"><span id="xdx_869_zXxAl1LbL3J5">Accounting Standards Issued but Not Yet Adopted</span></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">ASUs issued but not yet adopted were assessed and determined to be not applicable or are not expected to have a material impact on our consolidated financial statements or financial statement disclosures.</span></p> <p id="xdx_80A_eus-gaap--InventoryDisclosureTextBlock_z1w7FSOLHNbk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 4 – <span id="xdx_82A_ziKBypIu5rw">Inventories</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zhJAA5jYbPW1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Inventories consisted of raw rubber materials, finished goods of rubber products and others, and are stated at the lower of cost or net realizable value. As of June 30, 2023 and December 31, 2022, inventories consisted of the following:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_z5WGsCoozX6d" style="display: none">Schedule of Inventories</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230630_zVJGQSiAQzh5" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2023</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20221231_zoXeexG6lvll" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>December 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2022</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">(Unaudited)</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: right"> </td><td style="color: Black"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzmcP_zdZnHIG6RQu1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">Raw materials</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">22,160</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">8,900</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_maINzmcP_zTJSb7kgmpZj" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Finished goods</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,711,312</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,329,577</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryNet_iTI_mtINzmcP_zc3mpBUjMqX2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">1,733,472</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">1,338,477</td><td style="color: Black; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zUfQda1fEEn9" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zhJAA5jYbPW1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Inventories consisted of raw rubber materials, finished goods of rubber products and others, and are stated at the lower of cost or net realizable value. As of June 30, 2023 and December 31, 2022, inventories consisted of the following:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_z5WGsCoozX6d" style="display: none">Schedule of Inventories</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230630_zVJGQSiAQzh5" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2023</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20221231_zoXeexG6lvll" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>December 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2022</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">(Unaudited)</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: right"> </td><td style="color: Black"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryRawMaterialsAndSupplies_iI_maINzmcP_zdZnHIG6RQu1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">Raw materials</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">22,160</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">8,900</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_maINzmcP_zTJSb7kgmpZj" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Finished goods</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,711,312</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,329,577</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryNet_iTI_mtINzmcP_zc3mpBUjMqX2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">1,733,472</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">1,338,477</td><td style="color: Black; text-align: left"> </td></tr> </table> 22160 8900 1711312 1329577 1733472 1338477 <p id="xdx_805_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zt2MbrKNtd9l" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 5 - <span id="xdx_82A_zCOAOsqxP8ej">Plant and equipment, net</span></b></span></p> <p id="xdx_898_eus-gaap--PropertyPlantAndEquipmentTextBlock_ziAlwjH3IFI9" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zdma9GUXtSF2" style="display: none">Schedule of Plant and Equipment</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20230630_zoJAC1LmQ5od" style="color: Black; font-weight: bold; text-align: center">June 30,</td><td style="text-align: center; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20221231_zY0rbBjxnIB9" style="color: Black; font-weight: bold; text-align: center">December 31,</td><td style="text-align: center; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: right"> </td><td style="color: Black"> </td></tr> <tr id="xdx_404_eus-gaap--MachineryAndEquipmentGross_iI_maPAENze4r_zM3XdU3KZHWe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">Equipment and machinery</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">5,353,165</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">5,633,421</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FurnitureAndFixturesGross_iI_maPAENze4r_zaOKiSbSOmDl" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Furniture and office equipment</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,167</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">3,505</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AutoVehiclesGross_iI_maPAENze4r_zEVKuocuAYqf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Auto vehicles</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">23,145</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">19,783</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseholdImprovementsGross_iI_maPAENze4r_zddivg0yQ9ni" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Leasehold improvement</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">116,161</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">122,124</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPAENze4r_z0Sg2UH76EI1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Minus: Accumulated depreciation and amortization</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(1,696,540</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(1,497,885</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--PlantAndEquipmentGross_iTI_mtPAENze4r_maPPAENzp56_zyjkeYZh6Sd3" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Plant and equipment, net</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">3,800,098</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,280,948</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ConstructionInProgressGross_iI_maPPAENzp56_zNoFZznlzbPd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Construction in progress</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">4,309,666</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">2,518,836</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzp56_zkjyI2EiW6N6" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Property plant and equipment, net</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">8,109,764</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">6,799,784</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> <p id="xdx_8AF_z3kh5SRnpbC3" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Upon the right use of land obtained, RLSP started to build the manufacture plant on the land. The Company capitalized the cost in related to the construction, including the interests related to the borrowings, the utilities occurred in the construction, the amortization of land use of right. On September 17, 2020, RLSP entered into a construction contract with Ningbo Rongsen to build up the manufacture plant including a new production line for which the annual production capacity will be up to four million set of automotive seals. The budget of the project is around $<span id="xdx_901_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20200917__20200917__us-gaap--RelatedPartyTransactionAxis__custom--ConstructionContractMember_z5qn5YB2SQma" title="Related party transaction">5,420,810</span> (RMB <span id="xdx_90B_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn6n6_uRMB_c20200917__20200917__us-gaap--RelatedPartyTransactionAxis__custom--ConstructionContractMember_zNde7ausZa5i" title="Related party transaction">35</span> million) with the project started in April 2021. As of June 30, 2023, the construction has completed around <span id="xdx_90B_ecustom--ConstructionCompletedPercentage_dp_c20230101__20230630__us-gaap--RelatedPartyTransactionAxis__custom--ConstructionContractMember_zIiL8UJKzhEl" title="Construction completed percentage">85</span>% of the overall project and is expected to complete around September 2023.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the equipment used for manufacturing, the depreciation expense is included as part of manufacturing overhead, while the equipment used for general administrative are included in selling, general and administrative expense on the statements of operations.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, the depreciation and amortization expenses were $<span id="xdx_907_eus-gaap--DepreciationAndAmortization_c20230101__20230630_zLVpK1kxaAZe" title="Depreciation and amortization">246,707</span> and $<span id="xdx_90E_eus-gaap--DepreciationAndAmortization_c20220101__20220630_z0HzUZrLpee3" title="Depreciation and amortization">293,363</span>, respectively, and $<span id="xdx_904_eus-gaap--DepreciationAndAmortization_c20230401__20230630_zGQdzKLdx372" title="Depreciation and amortization">126,679</span> and $<span id="xdx_90F_eus-gaap--DepreciationAndAmortization_c20220401__20220630_zI3XudLwfGa1" title="Depreciation and amortization">152,837</span> for the three months ended June 30, 2023 and 2022, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_898_eus-gaap--PropertyPlantAndEquipmentTextBlock_ziAlwjH3IFI9" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zdma9GUXtSF2" style="display: none">Schedule of Plant and Equipment</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20230630_zoJAC1LmQ5od" style="color: Black; font-weight: bold; text-align: center">June 30,</td><td style="text-align: center; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20221231_zY0rbBjxnIB9" style="color: Black; font-weight: bold; text-align: center">December 31,</td><td style="text-align: center; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: right"> </td><td style="color: Black"> </td></tr> <tr id="xdx_404_eus-gaap--MachineryAndEquipmentGross_iI_maPAENze4r_zM3XdU3KZHWe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">Equipment and machinery</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">5,353,165</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">5,633,421</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FurnitureAndFixturesGross_iI_maPAENze4r_zaOKiSbSOmDl" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Furniture and office equipment</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,167</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">3,505</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AutoVehiclesGross_iI_maPAENze4r_zEVKuocuAYqf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Auto vehicles</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">23,145</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">19,783</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseholdImprovementsGross_iI_maPAENze4r_zddivg0yQ9ni" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Leasehold improvement</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">116,161</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">122,124</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPAENze4r_z0Sg2UH76EI1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Minus: Accumulated depreciation and amortization</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(1,696,540</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(1,497,885</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_407_ecustom--PlantAndEquipmentGross_iTI_mtPAENze4r_maPPAENzp56_zyjkeYZh6Sd3" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Plant and equipment, net</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">3,800,098</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,280,948</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ConstructionInProgressGross_iI_maPPAENzp56_zNoFZznlzbPd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Construction in progress</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">4,309,666</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">2,518,836</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzp56_zkjyI2EiW6N6" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Property plant and equipment, net</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">8,109,764</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">6,799,784</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> 5353165 5633421 4167 3505 23145 19783 116161 122124 1696540 1497885 3800098 4280948 4309666 2518836 8109764 6799784 5420810 35000000 0.85 246707 293363 126679 152837 <p id="xdx_80A_eus-gaap--IntangibleAssetsDisclosureTextBlock_zXrtK96wRWRl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 6 - <span id="xdx_824_zz5quzyYWnk3">Intangible asset, net</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On October 21, 2020, RLSP entered a purchase contract with the Ninbo government agent, Zhejiang Province, whereby the Company was assigned the land use rights, for <span id="xdx_905_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20201021_zikrXbvz1It6" title="Intangible asset useful life">50</span> years useful life, located in Chunhun Street, in Fenghua city, Zhejiang Province, for a total purchase price of $<span id="xdx_904_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20201020__20201021_zYIabTPlMcz7" title="Finite-lived intangible assets acquired">2,064,554</span> (RMB <span id="xdx_907_eus-gaap--FinitelivedIntangibleAssetsAcquired1_uRMB_c20201020__20201021_zRxZRniKT6uj" title="Finite-lived intangible assets acquired">13,729,900</span> at exchange rate of <span id="xdx_90F_eus-gaap--ForeignCurrencyExchangeRateRemeasurement1_iI_uPure_c20201021_ziUkXhBj0SF2" title="Exchange rate">0.1504</span>), the information of the land use rights is as followed:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zklrfs5dJ9pg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Intangible asset, net consists of the following:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zJx9ogftOG26" style="display: none">Schedule of Intangible Asset</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230630_z9liJWgQiao" style="color: Black; font-weight: bold; text-align: center">June 30,</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20221231_z00zRqdPsFXe" style="color: Black; font-weight: bold; text-align: center">December 31,</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: right"> </td><td style="color: Black"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANzdbe_zz0dLUUm8Ep6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">Land use rights</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,093,557</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,201,040</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANzdbe_zAoFxwq66JF4" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Less: Accumulated amortization</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(113,869</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(97,705</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzdbe_zi0cSK4ZvYrb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Intangible asset, net</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,979,688</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">2,103,335</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zYvAsmTdBGO3" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, $<span id="xdx_901_eus-gaap--AmortizationOfIntangibleAssets_c20230101__20230630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LandUseRightsMember_zXlr6nfMPDnj" title="Amortization of intangible assets">21,777</span> and $<span id="xdx_905_eus-gaap--AmortizationOfIntangibleAssets_c20220101__20220630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LandUseRightsMember_zniGkFR6fTne" title="Amortization of intangible assets">23,364</span> amortization of land use rights were capitalized under CIP, respectively. For the three months ended June 30, 2023 and 2022, $<span id="xdx_906_eus-gaap--AmortizationOfIntangibleAssets_c20230401__20230630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LandUseRightsMember_zOJly7I9cO7h" title="Amortization of intangible assets">10,682</span> and $<span id="xdx_90E_eus-gaap--AmortizationOfIntangibleAssets_c20220401__20220630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LandUseRightsMember_zciZBgYyhx38" title="Amortization of intangible assets">11,384</span> amortization of land use rights were capitalized under CIP, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></p> P50Y 2064554 13729900 0.1504 <p id="xdx_890_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zklrfs5dJ9pg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Intangible asset, net consists of the following:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zJx9ogftOG26" style="display: none">Schedule of Intangible Asset</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230630_z9liJWgQiao" style="color: Black; font-weight: bold; text-align: center">June 30,</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20221231_z00zRqdPsFXe" style="color: Black; font-weight: bold; text-align: center">December 31,</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: right"> </td><td style="color: Black"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANzdbe_zz0dLUUm8Ep6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">Land use rights</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,093,557</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">2,201,040</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANzdbe_zAoFxwq66JF4" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Less: Accumulated amortization</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(113,869</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(97,705</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzdbe_zi0cSK4ZvYrb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Intangible asset, net</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,979,688</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">2,103,335</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> 2093557 2201040 113869 97705 1979688 2103335 21777 23364 10682 11384 <p id="xdx_804_eus-gaap--ShortTermDebtTextBlock_zPyNgwx5e6T7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 7 - <span id="xdx_82C_zFTaySaWfEf4">Borrowings</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On November 30, 2020, RLSP entered a one-year bank loan of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20201130__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--NingboFenghuaRuralCommercialBankCoLtdMember_zZXHtlqUdOp" title="Borrowings, face amount">2,298,851</span> (RMB <span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pn6n6_uRMB_c20201130__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--NingboFenghuaRuralCommercialBankCoLtdMember_zfizw8bLdaQ2" title="Borrowings, face amount">15</span> million) with Fenghua Chunhu branch, Agricultural Bank of China Co., Ltd. with the annual interest rate of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20201129__20201130__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--NingboFenghuaRuralCommercialBankCoLtdMember_zRgnXBxBa2i9" title="Borrowings, interest rate">4.7</span>%. The collateral pledged for the loan was the land use right with appraisal value of $<span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn4n6_c20201130__us-gaap--PledgedStatusAxis__us-gaap--AssetPledgedAsCollateralMember_zWH6ykdNrH1k" title="Land use right value">5.44</span> million (approximately RMB <span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn5n6_uRMB_c20201130__us-gaap--PledgedStatusAxis__us-gaap--AssetPledgedAsCollateralMember_zlKNZoSHS5kl" title="Land use right value">35.2</span> million). RLSP repaid RMB <span id="xdx_90A_eus-gaap--RepaymentsOfShortTermDebt_pn6n6_uRMB_c20211129__20211130__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--NingboFenghuaRuralCommercialBankCoLtdMember_zdvD5dC9CMt6" title="Repayment of loan">2</span> million and renewed $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20211130__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--NingboFenghuaRuralCommercialBankCoLtdMember_zVLNA4U8Nl5i" title="Borrowings, face amount">2,017,005</span> (RMB <span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_pn6n6_uRMB_c20211130__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--NingboFenghuaRuralCommercialBankCoLtdMember_zwkq3akPkxnf" title="Borrowings, face amount">13</span> million) loan on November 30, 2021 with one-year term. The loan was fully paid back on November 2022.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On April 30, 2021, RLSP borrowed $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20210430__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z9o2ZL5Bnrsa" title="Borrowings, face amount">774,401</span> (RMB <span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pn6n6_uRMB_c20210430__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zXuiARZgB7Od" title="Borrowings, face amount">5</span> million) short-term loan from an unrelated entity guaranteed by an individual person. The loan has a monthly interest rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_c20210429__20210430__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember_zfLyAq1u259h" title="Borrowings, monthly interest rate">1</span>% with the due date on June 15, 2021. <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateTerms_c20210429__20210430__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember_zaSsvyiv4nl7" title="Interest rate term">Pursuant to the loan agreement, the interest rate will increase to 2% monthly if RLSP is in default of loan terms and the lender may further obtain 5% of RLSP’s ownership.</span> On November 10, 2021, RLSP extended the maturity date of the loan till April 30, 2022 with the other loan terms remain the same and the two parties have verbally agreed to extend the due date to December 31, 2023. As of June 30, 2023 and December 31, 2022, the loan balance were $<span id="xdx_905_esrt--BankLoans_iI_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--AprilThirtyTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zqCUKAKO1cs8" title="Borrowings, outstanding">262,022</span> (RMB <span id="xdx_90F_esrt--BankLoans_iI_pn5n6_uRMB_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--AprilThirtyTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z6ugll0r9Fqa" title="Borrowings, outstanding">1.9</span> million) and $<span id="xdx_90A_esrt--BankLoans_iI_c20221231__us-gaap--ShortTermDebtTypeAxis__custom--AprilThirtyTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zm44VawpEBgc" title="Borrowings, outstanding">275,474</span> (RMB <span id="xdx_907_esrt--BankLoans_iI_pn5n6_uRMB_c20221231__us-gaap--ShortTermDebtTypeAxis__custom--AprilThirtyTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zdUCjtQiSPHb" title="Borrowings, outstanding">1.9</span> million), respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On September 1, 2021, RLSP borrowed $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20210901__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zoU1AclZVO5h" title="Borrowings, face amount">154,832</span> (RMB <span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_pn6n6_uRMB_c20210901__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z3w0XzlgxD08" title="Borrowings, face amount">1</span> million) short-term loan from an unrelated individual. The loan has annual interest rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20210901__20210901__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z9aQuooR6XHk" title="Borrowings, interest rate">13</span>% with due date on August 31, 2022. RLSP has had several round financing transactions with the individual since then. As of June 30, 2023 and December 31, 2022, the individual loan balances were $<span id="xdx_90A_esrt--BankLoans_iI_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zskxcUCFJQqe" title="Borrowings, outstanding">66,195</span> (RMB <span id="xdx_909_esrt--BankLoans_iI_pn4n6_uRMB_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zJspwxaJ43w2" title="Borrowings, outstanding">0.48</span> million) and $<span id="xdx_906_esrt--BankLoans_iI_c20221231__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z8DmxZxuly3h" title="Borrowings, outstanding">98,591</span> (RMB <span id="xdx_904_esrt--BankLoans_iI_pn4n6_uRMB_c20221231__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zdjQnqqRiZ2b" title="Borrowings, outstanding">0.68</span> million) respectively. Out of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20220901__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberThirtyTwentyTwentytwoMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z6r6XqVODoh1" title="Borrowings, face amount">150,798</span> loan balance, RMB<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_uRMB_c20220901__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberThirtyTwentyTwentytwoMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z6MTNPYBNFX3" title="Borrowings, face amount">500,000</span> loan was extended its maturity date to <span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_c20220901__20220901__us-gaap--LineOfCreditFacilityAxis__custom--SeptemberOneTwentyTwentyOneMember_zWxvZsxg6wO9" title="Debt, maturity date">December 31, 2023</span> with no interest bearing on September 1, 2022.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On September 1, 2021, RLSP borrowed $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20210901__us-gaap--ShortTermDebtTypeAxis__us-gaap--ShortTermDebtMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zDE7a2tccLE6" title="Borrowings, face amount">247,732</span>(RMB <span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_uRMB_c20210901__us-gaap--ShortTermDebtTypeAxis__us-gaap--ShortTermDebtMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zJ1XQqeGdjg8" title="Borrowings, face amount">1.6</span> million) short-term loan from an officer of RLSP. The loan has an annual interest rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20210901__20210901__us-gaap--ShortTermDebtTypeAxis__us-gaap--ShortTermDebtMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zHBnfRgveMU6" title="Borrowings, interest rate">8</span>% with due date on August 31, 2022. RLSP repaid $<span id="xdx_903_eus-gaap--RepaymentsOfShortTermDebt_c20220101__20221231__us-gaap--ShortTermDebtTypeAxis__us-gaap--ShortTermDebtMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z1VTeBdaOrh8" title="Repayment of loan">69,256</span> and $<span id="xdx_90E_eus-gaap--RepaymentsOfShortTermDebt_c20210101__20211231__us-gaap--ShortTermDebtTypeAxis__us-gaap--ShortTermDebtMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zuYqjWNJ2aIk" title="Repayment of loan">85,453</span> back during 2022 and 2021, respectively. For the six months ended June 30, 2023, RLSP borrowed additional $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_z96yNmilBwTl" title="Borrowings, face amount">125,968</span> (RMB <span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_pn4n6_uRMB_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--TermLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zwzQEul4mbOa" title="Borrowings, face amount">0.87</span> million) from the officer. As of June 30, 2023 and December 31, 2022, the loan balances were $<span id="xdx_905_esrt--BankLoans_iI_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoan1Member__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zTwvG2OT2Cvd" title="Borrowings, outstanding">179,988</span> (RMB<span id="xdx_904_esrt--BankLoans_iI_pn5n6_uRMB_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoan1Member__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zoz00BR5HMsh" title="Borrowings, outstanding">1.3</span> million) and $<span id="xdx_903_esrt--BankLoans_iI_c20221231__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoan1Member__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zph4GVfkYTu" title="Borrowings, outstanding">61,909</span> (RMB <span id="xdx_904_esrt--BankLoans_iI_pn4n6_uRMB_c20221231__us-gaap--ShortTermDebtTypeAxis__custom--SeptemberOneTwentytwentyOneTermLoan1Member__us-gaap--LineOfCreditFacilityAxis__custom--UnrelatedIndividualMember_zCVxrsQOkud8" title="Borrowings, outstanding">0.43</span> million), respectively. The loan was extended to December 31, 2023 on March 11, 2023 and the officer has waived loan interest since September 2022.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On November 30, 2021, RLSP borrowed $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20211130__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--ZhejiangYongyinFinancialleasingCoLtdMember_zuG1cZFwlv2d" title="Borrowings, face amount">314,857</span> (RMB <span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pn6n6_uRMB_c20211130__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--ZhejiangYongyinFinancialleasingCoLtdMember_zunnjUVQOfRf" title="Borrowings, face amount">2</span> million) mortgage loan from Zhejiang Yongyin Financial leasing Co., Ltd, a subsidiary of Ningbo Fenghua Rural Commercial Bank Co., Ltd, pledged with machinery and equipment RLSP purchased and fully paid with the market value of approximately RMB<span id="xdx_908_eus-gaap--MachineryAndEquipmentGross_iI_pn5n6_uRMB_c20211130__us-gaap--PledgedStatusAxis__us-gaap--AssetPledgedAsCollateralMember_zFger88788Wh" title="Machinery and equipment">2.3</span> million. The loan has two-year term with due date on <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20211129__20211130__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--ZhejiangYongyinFinancialleasingCoLtdMember_zGCk2ClgEfo4" title="Borrowings, maturity date">November 19, 2023</span>. For the six months ended June 30, 2023, RLSP borrowed $<span id="xdx_901_eus-gaap--OtherShortTermBorrowings_iI_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--PersonalLoanMember_zh5hFOTzCte5" title="Personal loan">551,625</span> (RMB <span id="xdx_905_eus-gaap--OtherShortTermBorrowings_iI_pn6n6_uRMB_c20230630__us-gaap--ShortTermDebtTypeAxis__custom--PersonalLoanMember_z2CIfxGYzQic" title="Personal loan">4</span> million) The loan balances were $<span id="xdx_906_eus-gaap--SecuredDebt_iI_c20230630__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--ZhejiangYongyinFinancialleasingCoLtdMember_zNtOTavb5gC7" title="Mortgage loan">488,233</span> and $<span id="xdx_902_eus-gaap--SecuredDebt_iI_c20221231__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--ZhejiangYongyinFinancialleasingCoLtdMember_z5uyvKZFm1l" title="Mortgage loan">135,357</span> as of June 30, 2023 and December 31, 2022, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On March 2022, RLSP borrowed $<span id="xdx_908_eus-gaap--OtherShortTermBorrowings_iI_c20220331__us-gaap--ShortTermDebtTypeAxis__custom--PersonalLoanMember_z02YzFwuslvg">20,901</span> personal loans from two employees and $<span id="xdx_903_eus-gaap--RepaymentsOfSubordinatedShortTermDebt_c20220401__20220430__us-gaap--ShortTermDebtTypeAxis__custom--PersonalLoanMember_zfFwGrcckdu6">10,451</span> was repaid in April 2022. As of December 31, 2022, the outstanding loan balance was $<span id="xdx_90D_eus-gaap--SecuredDebt_iI_c20221231__us-gaap--ShortTermDebtTypeAxis__custom--PersonalLoanMember__us-gaap--LineOfCreditFacilityAxis__custom--RLSPMember_zirq8dEGK1Ca">10,149</span>. The loans bear no interest and due on demand. The loan was fully paid back on March 2023.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On November 18, 2022, RLSP entered a one-year bank loan of $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_c20221118__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--FenghuaChunhuBranchMember_zzYonfANP365" title="Borrowings, face amount">1,884,823</span> (RMB <span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pn6n6_uRMB_c20221118__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--FenghuaChunhuBranchMember_zfr3iPqqNME9" title="Borrowings, face amount">13</span> million) with Fenghua Chunhu branch, Bank of Ningbo. with the annual interest rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20221115__20221118__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--FenghuaChunhuBranchMember_z0dQuYcoEFXj" title="Borrowings, interest rate">4.5</span>%. The collateral pledged for the loan was the land use right with appraisal value of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pn2n6_c20221118__us-gaap--PledgedStatusAxis__us-gaap--AssetPledgedAsCollateralMember__us-gaap--LineOfCreditFacilityAxis__custom--FenghuaChunhuBranchMember_z2vQ34t8A6W7" title="Borrowings, face amount">3.44</span> million (approximately RMB <span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pn4n6_uRMB_c20221118__us-gaap--PledgedStatusAxis__us-gaap--AssetPledgedAsCollateralMember__us-gaap--LineOfCreditFacilityAxis__custom--FenghuaChunhuBranchMember_zr7PV7mLXHsh" title="Borrowings, face amount">23.69</span> million). The loan balance was $<span id="xdx_903_eus-gaap--SecuredDebt_iI_c20230630__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--FenghuaChunhuBranchMember_zTBFFvPN1Rtg" title="Loa, outstanding">1,792,782</span> and $<span id="xdx_90A_eus-gaap--SecuredDebt_iI_c20221231__us-gaap--ShortTermDebtTypeAxis__us-gaap--MortgagesMember__us-gaap--LineOfCreditFacilityAxis__custom--FenghuaChunhuBranchMember_zmjMNbSncyec" title="Loa, outstanding">1,884,823</span> as of June 30, 2023 and December 31, 2022, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Interest expense primarily consists of the interest incurred on the bank loans, commercial &amp; individual loans and minor bank service charges. For six months ended June 30, 2023 and 2022, the Company recorded the interest expense of $<span id="xdx_909_eus-gaap--InterestExpenseDebt_c20230101__20230630__us-gaap--ShortTermDebtTypeAxis__custom--BankLoanMember_z2Jm0SNTFXh9" title="Interest expense">108,450</span> and $<span id="xdx_900_eus-gaap--InterestExpenseDebt_c20220101__20220630__us-gaap--ShortTermDebtTypeAxis__custom--BankLoanMember_zsgku8oC43we" title="Interest expense">102,568</span>, respectively. For three months ended June 30, 2023 and 2022, the Company recorded the interest expense of $<span id="xdx_904_eus-gaap--InterestExpenseDebt_c20230401__20230630__us-gaap--ShortTermDebtTypeAxis__custom--BankLoanMember_zWnuhpdvH0i" title="Interest expense">68,255</span> and $<span id="xdx_900_eus-gaap--InterestExpenseDebt_c20220401__20220630__us-gaap--ShortTermDebtTypeAxis__custom--BankLoanMember_z7t23TWoAOYf" title="Interest expense">55,573</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></p> 2298851 15000000 0.047 5440000 35200000 2000000 2017005 13000000 774401 5000000 0.01 Pursuant to the loan agreement, the interest rate will increase to 2% monthly if RLSP is in default of loan terms and the lender may further obtain 5% of RLSP’s ownership. 262022 1900000 275474 1900000 154832 1000000 0.13 66195 480000 98591 680000 150798 500000 2023-12-31 247732 1600000 0.08 69256 85453 125968 870000 179988 1300000 61909 430000 314857 2000000 2300000 2023-11-19 551625 4000000 488233 135357 20901 10451 10149 1884823 13000000 0.045 3440000 23690000 1792782 1884823 108450 102568 68255 55573 <p id="xdx_804_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zXBXvp1fmKl9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 8 – <span id="xdx_82B_zDPNhgubn6ai">Related Party Transactions</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i><span style="text-decoration: underline">Purchase</span></i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In order to reduce the purchase cost and enhance the purchase power, the Company purchases the main raw materials from Yongliansen Import and Export Trading Company (“Yongliansen”) and Shanghai Haozong Rubber &amp; Plastic Technology Co., Ltd. (“Shanghai Haozong”), and also purchases equipment and rubber products under indirect supply model from Shanghai Huaxin Economic and Trade Co., Ltd. (“Shanghai Huaxin”) during the three months ended June 30, 2023 and 2022. The Company’s founder holds minor equity interests of the three suppliers directly or indirectly and one of the Company directors, Mr. Jun Tong holds <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20230630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ShanghaiHaozongRubberAndPlasticTechnologyCoLtdMember__srt--TitleOfIndividualAxis__custom--JunTongMember_zaqccvNEHfgi" title="Ownership percentage">30</span>% ownership of Shanghai Haozong.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For six months ended June 30, 2023 and 2022, the Company purchased raw materials from Yongliansen (“Vendor C”) in the total amount of $<span id="xdx_903_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember__us-gaap--PublicUtilitiesInventoryAxis__us-gaap--PublicUtilitiesInventoryRawMaterialsMember_zPD46He9kO11" title="Related party transaction, purchases">441,441</span> and $<span id="xdx_908_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember__us-gaap--PublicUtilitiesInventoryAxis__us-gaap--PublicUtilitiesInventoryRawMaterialsMember_zhmpnf0WXEJa" title="Related party transaction, purchases">1,121,791</span>, respectively. For three months ended June 30, 2023 and 2022, the total purchase amounts from Yongliansen were $<span id="xdx_902_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember__us-gaap--PublicUtilitiesInventoryAxis__us-gaap--PublicUtilitiesInventoryRawMaterialsMember_zZmSSwv6T38g" title="Related party transaction, purchases">72,052</span> and $<span id="xdx_903_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember__us-gaap--PublicUtilitiesInventoryAxis__us-gaap--PublicUtilitiesInventoryRawMaterialsMember_zzJFhA2ZB5Xg" title="Related party transaction, purchases">543,838</span>, respectively. As of June 30, 2023 and December 31, 2022, the Company advanced Yongliansen $<span id="xdx_907_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zydJLvSVQuYa" title="Related party transaction, purchases">50,691</span> and $<span id="xdx_906_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220101__20221231__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zZAS73Uc5Swh" title="Related party transaction, purchases">10,353</span>, respectively, mainly for raw material purchases.On November 30, 2020, RLSP advanced RMB <span id="xdx_904_eus-gaap--OtherReceivables_iI_pn6n6_uRMB_c20201130__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zPU7IajhNpm8" title="Due from related party">15</span> million or $<span id="xdx_908_eus-gaap--OtherReceivables_iI_c20201130__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zHvtUvGGoXWa" title="Due from related party">2,068,595</span> as a deposit (the “Deposit”) to Yongliansen in order to lock-down our premium customer position among all customers of Yongliansen and maintain a long-term business relationship. The Deposit bears no interest and due on demand. Due to less procurement of raw materials made from Yongliansen in 2022, RLSP requested Yongliansen to refund the Deposit, and Yongliansen agreed to fully refund RLSP by December 31, 2022. On December 15, 2022, RLSP and Yongliansen entered into a Payment Agreement, among which Yongliansen requested to extend the repayment date of the Deposit to September 30, 2023, and RLSP has agreed to grant such extension request.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For six months ended June 30, 2023 and 2022, the Company purchased $<span id="xdx_908_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zxwudBUdjja4" title="Related party transaction, purchases">3,864,667</span> and $<span id="xdx_902_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zW8IjjzgLYVd" title="Related party transaction, purchases">3,793,171</span> rubber products from Shanghai Haozong (“Vendor A”), respectively, and purchased $<span id="xdx_90B_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zXqm52eu6QNg" title="Related party transaction, purchases">1,956,561</span> and $<span id="xdx_903_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_za8RTPiN6MD3" title="Related party transaction, purchases">1,236,093</span> rubber products from Shanghai Haozong for the three months ended June 30, 2023 and 2022, respectively. As of June 30, 2023 and December 31, 2022, $<span id="xdx_906_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z8QyFr5vPUg3" title="Due from related party">2,406,182</span> and $<span id="xdx_903_eus-gaap--AccountsPayableCurrent_iI_c20221231__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zIYqPll8CAG8" title="Due from related party">2,384,035</span> accounts payable due to Shanghai Haozong, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For six months ended June 30, 2023 and 2022, RLSP purchased $<span id="xdx_904_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_dxL_c20230101__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zjxu69ZIjwWc" title="Related party transaction, purchases::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0989">nil </span></span>and $<span id="xdx_90E_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220101__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zayIAQBjl2Hd" title="Related party transaction, purchases">6,348</span> rubber products and equipment from Shanghai Huaxin (“Vendor B”), respectively, and purchased $<span id="xdx_906_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_dxL_c20230401__20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zxAOVe1AnKW5" title="Related party transaction, purchases::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0993">nil</span></span> and $<span id="xdx_900_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220401__20220630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zI20B5pgWQWf" title="Related party transaction, purchases">6,348</span> for the three months ended June 30, 2023 and 2022, respectively. As of June 30, 2023 and December 31, 2022, $<span id="xdx_906_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zrgSX9UAOtT6" title="Accounts payable">4,595,664</span> and $<span id="xdx_90B_eus-gaap--AccountsPayableCurrent_iI_c20221231__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zlTBjxrOjJ73" title="Accounts payable">5,135,351</span> payable were due to Shanghai Huaxin, respectively, including $<span id="xdx_909_ecustom--RetainagePayable_iI_dxL_c20230630__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zKMOaTbNiyWg" title="Retainage payable::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1001">nil</span></span> and $<span id="xdx_905_ecustom--RetainagePayable_iI_c20221231__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zf2o3xFlk8Wb" title="Retainage payable">38,119</span> retainage payable, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On December 25, 2021, RLSP signed a Payment Extension Agreement with Shanghai Huaxin regarding outstanding account payable balance, which was amended on August 14, 2022. Under the amended Payment Extension Agreement, RLSP and Shanghai Huaxin both agreed that the $<span id="xdx_905_eus-gaap--AccountsPayableCurrent_iI_c20220630__us-gaap--RelatedPartyTransactionAxis__custom--PaymentExtensionAgreementMember_zNrlzOspBt06" title="Due from related party">6,835,124</span> accounts payable as of June 30, 2022 shall be paid based on the agreed-upon payment schedule, of which $<span id="xdx_90E_eus-gaap--AccountsPayableCurrent_iI_c20221231__us-gaap--RelatedPartyTransactionAxis__custom--PaymentExtensionAgreementMember_zrjnwhiA80Yd" title="Accounts payable">746,480</span> accounts payable should be paid before December 31, 2022. During the six months ended December 31, 2022, the Company has paid RMB <span id="xdx_90A_eus-gaap--RepaymentsOfDebt_uRMB_c20220701__20221231__us-gaap--RelatedPartyTransactionAxis__custom--PaymentExtensionAgreementMember_znfLMCuJ3ybk" title="Repayments of related party debt">11,350,337</span> or about USD $<span id="xdx_90A_eus-gaap--RepaymentsOfDebt_c20220701__20221231__us-gaap--RelatedPartyTransactionAxis__custom--PaymentExtensionAgreementMember_zpx3R7skUz2c" title="Repayments of related party debt">1,626,379</span>. For the six months ended June 30, 2023, RLSP has paid RMB<span id="xdx_90B_eus-gaap--RepaymentsOfDebt_uRMB_c20230101__20230630__us-gaap--RelatedPartyTransactionAxis__custom--PaymentExtensionAgreementMember_z3GMeigLnsQb" title="Repayments of related party debt">2,095,000</span> or about USD <span id="xdx_909_eus-gaap--RepaymentsOfDebt_c20230101__20230630__us-gaap--RelatedPartyTransactionAxis__custom--PaymentExtensionAgreementMember_zOlL0y7WHSlj" title="Repayments of related party debt">300,522</span>. The remaining balance of $<span id="xdx_90C_eus-gaap--OtherReceivables_iI_c20231231__us-gaap--RelatedPartyTransactionAxis__custom--PaymentExtensionAgreementMember_zM1tfjYzvSQl" title="Due from related party">4,595,664</span> shall be paid by the end of December 31, 2023 per the Payment Extension Agreement.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i><span style="text-decoration: underline">Sales under Indirect Supply Model</span></i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In order to stabilize customer relationships and maintain long-term orders, we authorized two related parties - Shanghai Xinsen (“Customer B”) and Hangzhou Xinsen (“Customer C”) as our distributors. The Company’s President, Ms. Xingxiu Hua, held <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20230630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XinsenSealingProductsHangzhouCoLtdMember__srt--TitleOfIndividualAxis__custom--XingxiuHuaMember_zTI20R0Yug4l" title="Ownership percentage">90</span>% ownership of Shanghai Xinsen and Shanghai Xinsen holds <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20230630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XinsenSealingProductsHangzhouCoLtdMember__srt--TitleOfIndividualAxis__custom--ShanghaiXinsenMember_zcFHsvZt8JQh" title="Ownership percentage">70</span>% ownership of Hangzhou Xinsen, or Ms. Hua owns 63% ownership of Hangzhou Xinsen, respectively. <span id="xdx_906_eus-gaap--NatureOfCommonOwnershipOrManagementControlRelationships_c20230101__20230630_zlfteFLZpN5a" title="Ownership description">Effective on October 1, 2022, Ms. Hua reduced her ownership of Shanghai Xinsen to 15%, and so accordingly reduced her indirect ownership of Hangzhou Xinsen to 10.5%. Xinsen Group is a rubber product trading expert with 20 years of experience in the auto parts market, who charges 1% of the total sales amount before VAT tax as sales commission before June 30, 2023, and subsequently 0.25% effective from October 1, 2022 after the renegotiation between RLSP and Xinsen Group. Sales commission incurred in each period is recorded as part of selling expense of the Company.</span></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For six months ended June 30, 2023 and 2022, RLSP had indirect sales through Xinsen Group that were sold to two certified first-tier suppliers of the Auto Manufacturers $<span id="xdx_901_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20230101__20230630__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_zLFJhNXUlzt3" title="Purchases from related party">3,358,311</span> and $<span id="xdx_90F_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220101__20220630__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_zVYGaUolYOXg" title="Purchases from related party">3,719,213</span> respectively. For three months ended June 30, 2023 and 2022, the total indirect sales through Xinsen Group to the same downstream two customers were $<span id="xdx_906_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20230401__20230630__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_z5uDWfS1edjl" title="Purchases from related party">1,910,202</span> and $<span id="xdx_905_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20220401__20220630__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_zDem3u0mIqs6" title="Purchases from related party">1,205,594</span>, respectively. As of June 30, 2023, and December 31, 2022, the accounts receivable due from Shanghai Xinsen were $<span id="xdx_90D_eus-gaap--AccountsReceivableNet_iI_c20230630__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_zoWP0a1CnDff" title="Accounts receivable, related parties">4,164,544</span> and $<span id="xdx_90B_eus-gaap--AccountsReceivableNet_iI_c20221231__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_zvAhDDZPQqTk" title="Accounts receivable, related parties">4,665,735</span> respectively. Since the end of 2021, Shanghai Xinsen received some payments from their customers in the form of bank notes with expiration period between three to six months. However, RLSP does not accept bank notes as payments and agreed to temporarily extend the payment terms to four months from two months after negotiated with Shanghai Xinsen. RLSP held advances from Hangzhou Xinsen in the amounts of $<span id="xdx_90B_eus-gaap--AccountsPayableCurrent_iI_c20230630__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_zOw2W7YgLQrj" title="Accounts payable">17,989</span> and $<span id="xdx_903_eus-gaap--AccountsPayableCurrent_iI_c20221231__us-gaap--RelatedPartyTransactionAxis__custom--SalesUnderIndirectSupplyModelMember_zFPpjy7rIQfj" title="Accounts payable">18,912</span> as of June 30, 2023 and December 31, 2022, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><i><span style="text-decoration: underline">Others</span></i></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">As of June 30, 2023 and December 31, 2022, the Company’s founder and officer funded the Company and RLSP in the total amount of $<span id="xdx_901_eus-gaap--OtherReceivables_iI_c20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderAndOfficerMember_zYElmwklM83k">2,391,554</span> and $<span id="xdx_904_eus-gaap--OtherReceivables_iI_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderAndOfficerMember_zIg8mJZYAymc">2,524,366</span> for its daily operation, respectively. The payable amounts bear no interest rate and due on demand. During the six months ended June 30, 2023 and 2022, the Company transferred cash in the amount of $<span id="xdx_90B_eus-gaap--CashFDICInsuredAmount_iI_c20230630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderAndOfficerMember_zbv7cbKNSd5g">194,000</span> and $<span id="xdx_90F_eus-gaap--CashFDICInsuredAmount_iI_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderAndOfficerMember_zJWawHSLEJ5e">188,565</span> respectively to RLSP as capital contribution for its daily operation, within the current existing approved registered capital amount of RLSP in China. The cash transfer has been approved by Agricultural Bank of China, Fenghua Branch, which is authorized by the State Administration of Foreign Exchange (the “SAFE”).</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"></p><p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 0.30 441441 1121791 72052 543838 50691 10353 15000000 2068595 3864667 3793171 1956561 1236093 2406182 2384035 6348 6348 4595664 5135351 38119 6835124 746480 11350337 1626379 2095000 300522 4595664 0.90 0.70 Effective on October 1, 2022, Ms. Hua reduced her ownership of Shanghai Xinsen to 15%, and so accordingly reduced her indirect ownership of Hangzhou Xinsen to 10.5%. Xinsen Group is a rubber product trading expert with 20 years of experience in the auto parts market, who charges 1% of the total sales amount before VAT tax as sales commission before June 30, 2023, and subsequently 0.25% effective from October 1, 2022 after the renegotiation between RLSP and Xinsen Group. Sales commission incurred in each period is recorded as part of selling expense of the Company. 3358311 3719213 1910202 1205594 4164544 4665735 17989 18912 2391554 2524366 194000 188565 <p id="xdx_803_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zAZyNN5hqWve" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 9 – <span id="xdx_825_ziPwcmUCoP24">Shareholder’s Equity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May and June 2023, the Company issued <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230530__20230531__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z75X9m6kZiOg" title="Common shares, issued"><span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230630__20230630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z85f4Cb4qu54" title="Common shares, issued">126,000</span></span> shares of common stocks at $<span id="xdx_90A_eus-gaap--SharePrice_iI_c20230531__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zajhDWyXQn13" title="Share price"><span id="xdx_90F_eus-gaap--SharePrice_iI_c20230630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zmLpa7f0iEr" title="Share price">3.00</span></span> per share pursuant to private placements to ten individuals for cash. The total $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20230630__20230630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z0eQwXQ58Ua2" title="Total value subscription">378,000</span> subscription were fully received as of June 30, 2023. The Company relied upon Regulation S of the Securities Act of 1933, as amended, for the sale of these securities. No commissions were paid regarding the share issuance and the share certificates were issued with a Rule 144 restrictive legend.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 126000 126000 3.00 3.00 378000 <p id="xdx_80A_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zhGoUcWAz4Nk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 10 – <span id="xdx_826_zDKZAqUlWv4a">Commitment and Contingencies</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On February 7, 2021, the landlord of the factory leased by RLSP filed a lawsuit against RLSP for default on lease payment pursuant to the lease agreement entered on November 11, 2019. The case was settled under the court mediation and a civil settlement was issued on April 20, 2021, pursuant to which, RLSP should pay the total unpaid balance of $<span id="xdx_901_eus-gaap--LossContingencyDamagesSoughtValue_c20210419__20210420_zRPPuQzq1icg" title="Litigation settlement, unpaid balance">46,454</span> (approximately RMB <span id="xdx_905_eus-gaap--LossContingencyDamagesSoughtValue_uRMB_c20210419__20210420_zfcOUenrNbeg" title="Litigation settlement, unpaid balance">300,000</span>) along with interest calculated with <span id="xdx_901_ecustom--LossContingencyDamagesSoughtInterest_dp_uPure_c20210419__20210420_zvQO6tUtiIq7" title="Litigation settlement, interest">24</span>% annum for around five months period. RLSP agreed to make the remaining two lease payments on time. $<span id="xdx_90E_eus-gaap--LeaseDepositLiability_iI_c20210420_zBlqgnGeQjEf" title="Lease payments">58,855</span> (RMB<span id="xdx_90F_eus-gaap--LeaseDepositLiability_iI_uRMB_c20210420_znb6ClwRjR78" title="Lease payments">380,000</span>) was made to the landlord through the court in April 2021, including unpaid lease payments, interest and attorney fee. RLSP extended the lease agreement with the landlord to August 14, 2022 in December 2021 and again to January 14, 2023 in August 2022. On January 14, 2023, RLSP signed a lease supplement agreement with the landlord <span id="xdx_90E_eus-gaap--LesseeFinanceLeaseOptionToExtend_c20230114__20230114_zI8cnjG3qgB7" title="Extended lease term">which extended the lease agreement from January 15, 2023 to January 14, 2024</span> at monthly lease amount of RMB <span id="xdx_902_eus-gaap--OperatingLeasePayments_uRMB_c20230114__20230114_zC6mkia7Yofj" title="Lease payment">429,000</span> (or approximately $<span id="xdx_90D_eus-gaap--OperatingLeasePayments_c20230114__20230114_z3YYpn8tkbgh" title="Lease payment">61,638</span>), payable per each quarter. Either the landlord or RLSP can request to terminate the lease supplement agreement at any time depend upon a ninety-day advance notice.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On July 5, 2022, Guangzhou FuRuiDe Metal Processing Machinery Manufacturing Co., Ltd. (“GFMP”) and RLSP entered into a settlement agreement regarding the dispute about the molds produced by GFMP. GFMP manufactured five pair of molds for RLSP for the total purchase amount of RMB <span id="xdx_901_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_uRMB_c20191030__20191031__us-gaap--RelatedPartyTransactionAxis__custom--SettlementAgreementMember_z7KF2d7fUpp8" title="Purchase from related party">200,000</span> (approximately USD $<span id="xdx_905_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20191030__20191031__us-gaap--RelatedPartyTransactionAxis__custom--SettlementAgreementMember_z7BnwY3gGWLk" title="Purchase from related party">31,000</span>), whereas RLSP prepaid RMB <span id="xdx_900_eus-gaap--OtherLiabilities_iI_uRMB_c20191031__us-gaap--RelatedPartyTransactionAxis__custom--SettlementAgreementMember_zgjqzvIGyD4" title="Due to related party">30,000</span> (approximately USD $<span id="xdx_90C_eus-gaap--OtherLiabilities_iI_c20191031__us-gaap--RelatedPartyTransactionAxis__custom--SettlementAgreementMember_zECwR9mvchOe" title="Due to related party">5,000</span>) as deposit in October 2019. RLSP claims that the molds are defective which led to higher product defectives rate and RLSP has removed the models from production since then. As a result, RLSP disputed the remaining unpaid purchase amount (i.e. RMB<span id="xdx_900_eus-gaap--OtherLiabilities_iI_uRMB_c20220705__us-gaap--RelatedPartyTransactionAxis__custom--SettlementAgreementMember_zWnv9Pi5EZbg" title="Related party unapid purchase amount">170,000</span>). According to the mediation letter entered by both parties on July 5, 2022, GFMP and RLSP are willing to solve the dispute and settled the remaining unpaid balance in RMB <span id="xdx_902_eus-gaap--OtherLiabilities_iI_uRMB_c20220801__us-gaap--RelatedPartyTransactionAxis__custom--SettlementAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GFMPMember_zSWMBxox6oK3" title="Related party unapid purchase amount">131,850</span> (approximately $<span id="xdx_908_eus-gaap--OtherLiabilities_iI_c20220801__us-gaap--RelatedPartyTransactionAxis__custom--SettlementAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GFMPMember_zOV7fg8ttEqh" title="Related party unapid purchase amount">20,000</span>). The settlement amount has been paid on August 1, 2022 through court enforcement of Ningbo City.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On September 17, 2020, RLSP entered into a construction contract with Ningbo Rongsen to build up a manufacturing factor and a new production line for which the annual production capacity will be up to four million set of automotive seals. The budget of the project is around $<span id="xdx_90A_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20200916__20200917__us-gaap--RelatedPartyTransactionAxis__custom--ConstructionContractMember_zc0V9robxjEg" title="Related party transaction">5,420,810</span> (RMB<span id="xdx_905_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn6n6_uRMB_c20200916__20200917__us-gaap--RelatedPartyTransactionAxis__custom--ConstructionContractMember_zhAdDwQlznZ4" title="Related party transaction">35</span> million) with the project started in April 2021, and project is expected to complete around September 2023. As of June 30, 2023, the completion percentage of the project is 85% and Ningbo Rongsen has advanced $<span id="xdx_90D_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230630__20230630__us-gaap--RelatedPartyTransactionAxis__custom--ConstructionContractMember_zAQR12OJrkW7" title="Related party transaction">3,567,982</span> (RMB<span id="xdx_903_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_pn6n6_uRMB_c20230630__20230630__us-gaap--RelatedPartyTransactionAxis__custom--ConstructionContractMember_zn9gvsCGBCh2" title="Related party transaction">25,872,509</span>) for the project as of June 30, 2023. </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> 46454 300000 0.24 58855 380000 which extended the lease agreement from January 15, 2023 to January 14, 2024 429000 61638 200000 31000 30000 5000 170000 131850 20000 5420810 35000000 3567982 25872509000000 <p id="xdx_80F_eus-gaap--IncomeTaxDisclosureTextBlock_zKHbd5XUedca" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 11 - <span id="xdx_82C_zbmlQsZAFIHj">Income Taxes</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company, RLI is a Nevada company and subject to the United States federal income tax at a tax rate of <span id="xdx_908_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_c20230101__20230630_zbyX0LH8OJM" title="Corporate tax rate">21</span>%. The Company’s subsidiary, RLSP, is incorporated in the PRC and are subject to PRC’s Enterprise Income Tax. Pursuant to the PRC Income Tax Laws, Enterprise Income Taxes (“EIT”) is generally imposed at <span id="xdx_904_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxContingencies_pid_dp_c20230101__20230630_z6H3Et5RxjUd" title="PRC applies, income tax rate">25</span>%.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For the six months ended June 30, 2023 and 2022, the provision for income taxes was $<span id="xdx_90F_eus-gaap--IncomeTaxExpenseBenefit_c20230101__20230630_zSXCpUYymPvi" title="Income tax expense">16,309</span> and $<span id="xdx_902_eus-gaap--IncomeTaxExpenseBenefit_c20220101__20220630_z4ShNjKOTG72" title="Income tax expense">7,838</span>, respectively. As of June 30, 2023 and December 30, 2022, the income tax payables were $<span id="xdx_904_eus-gaap--TaxesPayableCurrent_iI_dxL_c20230630_zW8SkZdMusig" title="Income tax payable::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1107">nil</span></span> and $<span id="xdx_901_eus-gaap--TaxesPayableCurrent_iI_c20221231_zvD51taIqYl2" title="Income tax payable">237,670</span>, respectively.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zZfcNcJPGLh5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The table below summarizes the difference between the U.S. statutory federal tax rate and the Company’s effective tax rate for six months ended June 30, 2023 and 2022:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zynwK2kzf2Cc" style="display: none">Schedule of Federal Effective Tax Rate</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20230101__20230630_zMV5OI6gJFBk" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20220101__20220630_zPr4y7KXHRL1" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black"> </td> <td colspan="6" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td></tr> <tr id="xdx_406_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_zROL5JnuWVt1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">U.S. federal income tax rate</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 16%; color: Black; text-align: right">21.0</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 16%; color: Black; text-align: right">21.0</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr id="xdx_401_ecustom--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateExcept_dp_zHAPoGnkzgxh" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Tax rate difference</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4.0</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4.0</td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_dp_zp0pFrbx3pwa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Tax except</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1119">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1120">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_z1hxWqWx1bgd" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Nontaxable items</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(11.5</td><td style="color: Black; text-align: left">)%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1123">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationGiltiPercent_dp_zqdmI3Hd69b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">GILTI tax</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1125">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1126">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxSettlementsOther_dp_zW9iOYTqq8oc" style="vertical-align: bottom; background-color: White"> <td style="color: Black">Others</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1128">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1129">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_z6smfC4FDli9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(21.0</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)%</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(23.3</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_ziqmYUnv9bB3" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 2.5pt">Effective tax rate</td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">(7.5</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left">)%</td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">1.7</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left">%</td></tr> </table> <p id="xdx_8A9_zAJklvao3OL3" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">For U.S. income tax purposes, the Company has no cumulative undistributed earnings of foreign subsidiary as of June 30, 2023 after acquired RLSP on May 27, 2021. Accordingly, no provision has been made for U.S. deferred taxes related to future repatriation of these earnings, nor is it practicable to estimate the amount of income taxes that would have to be provided if we concluded that such earnings will be remitted to the U.S. in the future.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In addition, the 2017 Tax Act also creates a new requirement that certain income (i.e., Global Intangible Low-Taxed Income (“GILTI”)) earned by controlled foreign corporations (“CFCs”) must be included currently in the gross income of the CFCs’ U.S. shareholder. GILTI is the excess of the shareholder’s net CFC tested income over the net deemed tangible income return, which is currently defined as the excess of (1) 10 percent of the aggregate of the U.S. shareholder’s pro rata share of the qualified business asset investment of each CFC with respect to which it is a U.S. shareholder over (2) the amount of certain interest expense taken into account in the determination of net CFC-tested income. The Company has elected to recognize the tax on GILTI as a period expense in the period the tax is incurred. For the six months ended June 30, 2023 and 2022</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; text-indent: 0.25in; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">ASC 740 requires recognition and measurement of uncertain income tax positions using a “more-likely-than-not” approach. The management evaluated the Company’s tax positions and considered that no provision for uncertainty in income taxes was necessary as of June 30, 2023.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></p> 0.21 0.25 16309 7838 237670 <p id="xdx_89E_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zZfcNcJPGLh5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The table below summarizes the difference between the U.S. statutory federal tax rate and the Company’s effective tax rate for six months ended June 30, 2023 and 2022:</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zynwK2kzf2Cc" style="display: none">Schedule of Federal Effective Tax Rate</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20230101__20230630_zMV5OI6gJFBk" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20220101__20220630_zPr4y7KXHRL1" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="text-align: center; color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="text-align: center; padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black"> </td> <td colspan="6" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td></tr> <tr id="xdx_406_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_zROL5JnuWVt1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black; text-align: left">U.S. federal income tax rate</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 16%; color: Black; text-align: right">21.0</td><td style="width: 1%; color: Black; text-align: left">%</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 16%; color: Black; text-align: right">21.0</td><td style="width: 1%; color: Black; text-align: left">%</td></tr> <tr id="xdx_401_ecustom--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateExcept_dp_zHAPoGnkzgxh" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Tax rate difference</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4.0</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4.0</td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_dp_zp0pFrbx3pwa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Tax except</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1119">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1120">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_z1hxWqWx1bgd" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Nontaxable items</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(11.5</td><td style="color: Black; text-align: left">)%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1123">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationGiltiPercent_dp_zqdmI3Hd69b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">GILTI tax</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1125">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1126">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxSettlementsOther_dp_zW9iOYTqq8oc" style="vertical-align: bottom; background-color: White"> <td style="color: Black">Others</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1128">-</span></td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1129">-</span></td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_z6smfC4FDli9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Valuation allowance</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(21.0</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)%</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(23.3</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_ziqmYUnv9bB3" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left; padding-bottom: 2.5pt">Effective tax rate</td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">(7.5</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left">)%</td><td style="color: Black; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; color: Black; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; color: Black; text-align: right">1.7</td><td style="padding-bottom: 2.5pt; color: Black; text-align: left">%</td></tr> </table> 0.210 0.210 0.040 0.040 -11.5 -0.210 -0.233 -0.075 0.017 <p id="xdx_80F_eus-gaap--SegmentReportingDisclosureTextBlock_zNblLQTamHU5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 12 - <span id="xdx_82E_zFw6jCkIgCza">Segment Reporting</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">We realize revenue primarily through the sale of synthetic rubber, rubber compound, car window seals, auto parts with two sales channels. The Company managed and reviewed its business as two operating and reporting segments: direct supply and indirect supply models.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zh7MJRZU6m99" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The business line distribution of the Company’s information as of and for six months as well as three months ended June 30, 2023 and 2022 as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zjH7zEIPxk76" style="display: none">Schedule of Business Line Distribution</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230101__20230630_zrVuKElRGglh" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220101__20220630_zhZDSKjnkiGl" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20230401__20230630_zzUGMgdqVgl6" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20220401__20220630_z8vKqcw53Mt7" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>For the six months ended </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30,</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">For the three months ended <br/> June 30,</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black"> </td> <td colspan="6" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="6" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic">Revenue:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_z0lVQat4tfgd" style="vertical-align: bottom; background-color: White"> <td style="width: 32%; color: Black; text-align: left">Direct supply model</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right">1,267,970</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right">2,197,969</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right">370,538</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 13%; color: Black; text-align: right">976,845</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_z3LvdvK1PEBf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Indirect supply model</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">3,358,311</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">3,719,213</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,910,202</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,205,594</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zM1Yy3XvW39l" style="vertical-align: bottom; background-color: White"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,626,281</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5,917,182</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,280,740</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,182,439</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zQuYlvXQHgM1" style="display: none; vertical-align: bottom; background-color: White"> <td style="color: Black">Revenue</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,626,281</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5,917,182</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,280,740</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,182,439</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; font-style: italic; text-align: left">Gross profit:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--GrossProfitPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_zfXdwDkj4Vw9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Direct supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">24.3</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">17.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">68.9</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">11.9</td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_403_ecustom--GrossProfitPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_zrKmQRZUVgKf" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">0.1</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(2</td><td style="color: Black; text-align: left">)%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(0.5</td><td style="color: Black; text-align: left">)%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(2.0</td><td style="color: Black; text-align: left">)%</td></tr> <tr id="xdx_40C_ecustom--GrossProfitPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z031og7c6sYe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">6.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5.3</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">10.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4.2</td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_401_ecustom--GrossProfitsPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zbQvCpk6ATQb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Gross profit</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">6.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5.3</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">10.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4</td><td style="color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic; text-align: left">Income(loss) from operations:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_zdn2nZXVrQwi" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Direct supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">19,463</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">25,869</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">143,984</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(52,999</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_zyWBYeXdDmo7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(41,117</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(165,734</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(30,773</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(83,006</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zDDoLJcI02u" style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Corporate</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(101,088</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(51,752</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(61,294</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(33,766</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zSXxcHyvL4Cf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(122,742</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(191,617</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">51,917</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(169,770</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zDnv2FUDVBt1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Income(loss) from operations</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(122,742</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(191,617</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">51,917</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(169,770</td><td style="color: Black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic; text-align: left">Net income(loss)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_zapZxaRfozv6" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Direct supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(76,700</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(82,214</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">63,428</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(114,245</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_z3xG32C4GrEg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(41,117</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(165,734</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(30,773</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(74,967</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_z1NnXXjgnlB1" style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Corporate</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(101,088</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(51,752</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(61,294</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(33,766</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zagwLbrb3PNj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Total</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(218,905</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(299,700</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(28,639</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(222,978</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zKVwP4xpoTKd" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Net income(loss)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(218,905</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(299,700</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(28,639</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(222,978</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20230630_zeTHLpuMHxPf" style="color: Black; font-weight: bold; text-align: center">June 30,</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20221231_ze2gPuoUTA0b" style="color: Black; font-weight: bold; text-align: center">December 31,</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: center"> </td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black"> </td><td style="color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic; text-align: left">Reportable assets</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_z5LeckZSry1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; color: Black; text-align: left">Direct supply model</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">12,500,056</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">14,066,203</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_zSH0ePyCAMI8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5,748,746</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,665,735</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zf9Hlye8C14l" style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Corporate</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">16,150</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">22,938</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zNnbALMwo79b" style="display: none; vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Reportable assets</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">16,150</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">22,938</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zEODx6VtQfTb" style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">All long-term assets are managed under direct supply model by the chief operating decision maker.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zh7MJRZU6m99" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The business line distribution of the Company’s information as of and for six months as well as three months ended June 30, 2023 and 2022 as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zjH7zEIPxk76" style="display: none">Schedule of Business Line Distribution</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230101__20230630_zrVuKElRGglh" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20220101__20220630_zhZDSKjnkiGl" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20230401__20230630_zzUGMgdqVgl6" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20220401__20220630_z8vKqcw53Mt7" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>For the six months ended </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30,</b></span></p></td><td style="padding-bottom: 1.5pt; color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">For the three months ended <br/> June 30,</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black; text-align: center"> </td><td style="color: Black"> </td> <td colspan="6" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="6" style="color: Black; text-align: center">(Unaudited)</td><td style="color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic">Revenue:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_z0lVQat4tfgd" style="vertical-align: bottom; background-color: White"> <td style="width: 32%; color: Black; text-align: left">Direct supply model</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right">1,267,970</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right">2,197,969</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 13%; color: Black; text-align: right">370,538</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 13%; color: Black; text-align: right">976,845</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_z3LvdvK1PEBf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left; padding-bottom: 1.5pt">Indirect supply model</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">3,358,311</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">3,719,213</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,910,202</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">1,205,594</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zM1Yy3XvW39l" style="vertical-align: bottom; background-color: White"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,626,281</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5,917,182</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,280,740</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,182,439</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Revenues_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zQuYlvXQHgM1" style="display: none; vertical-align: bottom; background-color: White"> <td style="color: Black">Revenue</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,626,281</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5,917,182</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,280,740</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">2,182,439</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; font-style: italic; text-align: left">Gross profit:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--GrossProfitPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_zfXdwDkj4Vw9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Direct supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">24.3</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">17.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">68.9</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">11.9</td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_403_ecustom--GrossProfitPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_zrKmQRZUVgKf" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">0.1</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(2</td><td style="color: Black; text-align: left">)%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(0.5</td><td style="color: Black; text-align: left">)%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(2.0</td><td style="color: Black; text-align: left">)%</td></tr> <tr id="xdx_40C_ecustom--GrossProfitPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_z031og7c6sYe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">6.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5.3</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">10.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4.2</td><td style="color: Black; text-align: left">%</td></tr> <tr id="xdx_401_ecustom--GrossProfitsPercentage_dp_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zbQvCpk6ATQb" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Gross profit</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">6.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5.3</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">10.8</td><td style="color: Black; text-align: left">%</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4</td><td style="color: Black; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic; text-align: left">Income(loss) from operations:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_zdn2nZXVrQwi" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Direct supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">19,463</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">25,869</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">143,984</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(52,999</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_zyWBYeXdDmo7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(41,117</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(165,734</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(30,773</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(83,006</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zDDoLJcI02u" style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Corporate</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(101,088</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(51,752</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(61,294</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(33,766</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zSXxcHyvL4Cf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Total</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(122,742</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(191,617</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">51,917</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(169,770</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--OperatingIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zDnv2FUDVBt1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Income(loss) from operations</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(122,742</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(191,617</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">51,917</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(169,770</td><td style="color: Black; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic; text-align: left">Net income(loss)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_zapZxaRfozv6" style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Direct supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(76,700</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(82,214</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">63,428</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(114,245</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_z3xG32C4GrEg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(41,117</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(165,734</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(30,773</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">(74,967</td><td style="color: Black; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_z1NnXXjgnlB1" style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Corporate</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(101,088</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(51,752</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(61,294</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(33,766</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zagwLbrb3PNj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Total</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(218,905</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(299,700</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(28,639</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(222,978</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember_zKVwP4xpoTKd" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Net income(loss)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(218,905</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(299,700</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(28,639</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">(222,978</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_497_20230630_zeTHLpuMHxPf" style="color: Black; font-weight: bold; text-align: center">June 30,</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20221231_ze2gPuoUTA0b" style="color: Black; font-weight: bold; text-align: center">December 31,</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black; text-align: center"> </td><td style="color: Black"> </td><td style="color: Black"> </td> <td colspan="2" style="color: Black"> </td><td style="color: Black"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; font-style: italic; text-align: left">Reportable assets</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--DirectSupplyModelMember_z5LeckZSry1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; color: Black; text-align: left">Direct supply model</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">12,500,056</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td style="width: 16%; color: Black; text-align: right">14,066,203</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--SubsegmentsAxis__custom--IndirectSupplyModelMember_zSH0ePyCAMI8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; text-align: left">Indirect supply model</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">5,748,746</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right">4,665,735</td><td style="color: Black; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zf9Hlye8C14l" style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Corporate</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">16,150</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">22,938</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Assets_iI_hsrt--ConsolidationItemsAxis__us-gaap--OperatingSegmentsMember__us-gaap--StatementBusinessSegmentsAxis__us-gaap--CorporateMember_zNnbALMwo79b" style="display: none; vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Reportable assets</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">16,150</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right">22,938</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> 1267970 2197969 370538 976845 3358311 3719213 1910202 1205594 4626281 5917182 2280740 2182439 4626281 5917182 2280740 2182439 0.243 0.178 0.689 0.119 0.001 -0.02 -0.005 -0.020 0.068 0.053 0.108 0.042 0.068 0.053 0.108 0.04 19463 25869 143984 -52999 -41117 -165734 -30773 -83006 -101088 -51752 -61294 -33766 -122742 -191617 51917 -169770 -122742 -191617 51917 -169770 -76700 -82214 63428 -114245 -41117 -165734 -30773 -74967 -101088 -51752 -61294 -33766 -218905 -299700 -28639 -222978 -218905 -299700 -28639 -222978 12500056 14066203 5748746 4665735 16150 22938 16150 22938 <p id="xdx_806_eus-gaap--SubsequentEventsTextBlock_zObL4FaFdHk7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 13 - <span id="xdx_82F_zpbBx9chAbfa">Subsequent Events</span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On July <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,</span> 2023, the Company sold <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230705__20230705__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zW36RhndGMl5" title="Common stock issued, shares">7,000</span> shares of its common stock pursuant to private placement to one investor for $<span id="xdx_90E_eus-gaap--SaleOfStockPricePerShare_iI_c20230705__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zOucYuMKECIc" title="Sale price">3.00</span> per share for total amount of $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20230705__20230705__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zyo5Qs4pGLih" title="Common stock issued, value">21,000</span>. The Company relied upon Regulation S of the Securities Act of 1933, as amended, for the sale of these securities. No commissions were paid regarding the share issuance and the share certificates were issued with a Rule 144 restrictive legend.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"></span></p> 7000 3.00 21000