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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Jun. 30, 2021
Current Assets    
Cash and cash equivalents $ 23,607,170 $ 18,593,944
Accounts receivable, net 74,786,136 102,783,004
Inventories, net 38,766,953 64,315,903
Prepaid expenses and other current assets 6,917,487 8,093,808
Amount due from related parties 86,208 42,757
Advances to suppliers, net 26,999,738 23,884,772
Total Current Assets 171,163,692 217,714,188
Plant, property and equipment, net 21,196,299 22,221,016
Other assets 472,533 497,365
Other non-current assets 8,989,477 9,888,518
Intangible assets, net 16,184,054 16,407,651
Total Assets 218,006,055 266,728,738
Current Liabilities    
Accounts payable 6,402,013 16,868,942
Customer deposits 6,434,068 6,257,215
Accrued expenses and other payables 19,627,408 13,598,821
Amount due to related parties 5,238,700 4,976,689
Taxes payable 31,079,921 32,542,494
Short term loans 4,247,100 4,179,600
Interest payable 806,949 794,124
Total Current Liabilities 73,836,159 79,217,885
Total Liabilities 73,836,159 79,217,885
Stockholders’ Equity    
Preferred Stock, $.001 par value, 20,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2021 and June 30, 2021, respectively
Common stock, $.001 par value, 115,197,165 shares authorized, 8,487,629 and 8,487,629 shares issued and outstanding as of December 31, 2021 and June 30, 2021, respectively 8,488 8,488
Additional paid-in capital 170,223,195 170,223,195
Statutory reserve 26,925,274 27,673,245
Retained earnings (52,124,706) (5,812,533)
Accumulated other comprehensive loss (862,354) (4,581,541)
Total Stockholders’ Equity 144,169,896 187,510,853
Total Liabilities and Stockholders’ Equity $ 218,006,055 $ 266,728,738