Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive (loss) Income

v3.21.2
Consolidated Statements of Operations and Comprehensive (loss) Income - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
REVENUE $ 87,240,420 $ 89,622,156 $ 64,256,088
COST OF REVENUE 89,661,883 64,396,571 33,239,582
GROSS (LOSS)/ PROFIT (2,421,463) 25,225,585 31,016,506
OPERATING EXPENSES (INCOME):      
Selling 4,850,044 2,715,599 1,622,451
General and administrative 4,091,729 4,163,873 4,513,193
General and administrative - depreciation 3,066,522 3,726,061 5,791,557
Government subsidy (13,660,284) (6,440,299) (8,584,731)
Impairment loss 67,713,324 7,951,635 9,715,058
(Gain) loss on fixed assets disposal (59,432) 2,105,960
Total Operating Expenses, Net 66,061,335 12,057,437 15,163,488
(LOSS) INCOME FROM OPERATIONS (68,482,798) 13,168,148 15,853,018
OTHER INCOME (EXPENSE):      
Interest income 3,745,611 780,604 41,446
Interest (expense) (13,432,919) (6,055,310) (1,210,974)
Foreign currency transaction gain (loss) 607,674 (298,304) (157,852)
Dividend income from cost method investment 135,338 312,727 382,627
(Loss) on the interest sold   (86,603)  
(Loss) on equity method investment (156,085) (486,803) (192,746)
Other (expense) income (35,401) (954,394) 97,179
Total Other Expense (9,135,782) (6,788,083) (1,040,320)
(LOSS) INCOME BEFORE INCOME TAXES (77,618,580) 6,380,065 14,812,698
INCOME TAXES
NET (LOSS) INCOME (77,618,580) 6,380,065 14,812,698
LESS: NET (LOSS) INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST (4,740,332) 698,041 1,415,397
NET (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY (72,878,248) 5,682,024 13,397,301
COMPREHENSIVE (LOSS) INCOME:      
NET (LOSS) INCOME (77,618,580) 6,380,065 14,812,698
Unrealized foreign currency translation gain (loss) 7,156,773 (2,861,319) (8,387,092)
COMPREHENSIVE (LOSS) INCOME (70,461,807) 3,518,746 6,425,606
Less: comprehensive (loss) income attributable to the non-controlling interest (4,095,594) 469,583 744,463
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY $ (66,366,213) $ 3,049,163 $ 5,681,143
NET (LOSS) INCOME PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY      
Basic and diluted (in Dollars per share) $ (0.92) $ 0.07 $ 0.17
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:      
Basic and diluted (in Shares) 79,121,471 79,055,053 79,055,053