Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Operations and Comprehensive (loss) Income

v3.22.1
Consolidated Statements of Operations and Comprehensive (loss) Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
REVENUE $ 164,083,044 $ 87,240,420 $ 89,622,156
COST OF REVENUE 176,724,581 89,661,883 64,396,571
GROSS (LOSS)/ PROFIT (12,641,537) (2,421,463) 25,225,585
OPERATING EXPENSE (INCOME):      
Selling 7,632,730 4,850,044 2,715,599
General and administrative 5,892,080 4,091,729 4,163,873
General and administrative - depreciation 836,142 3,066,522 3,726,061
Government subsidy (20,449,471) (13,660,284) (6,440,299)
Impairment loss 6,301,373 67,713,324 7,951,635
Settlement of contract (26,408,130)    
(Gain) on fixed assets disposal (59,432)
Total Operating (Income) Expense, Net (26,195,276) 66,061,335 12,057,437
INCOME (LOSS) FROM OPERATIONS 13,553,739 (68,482,798) 13,168,148
OTHER INCOME (EXPENSE):      
Interest income 371,695 3,745,611 780,604
Interest (expense) (17,371,089) (13,432,919) (6,055,310)
Foreign currency transaction gain (loss) 1,231,614 607,674 (298,304)
Dividend income from cost method investment 612,734 135,338 312,727
(Loss) on the interest sold (86,603)
(Loss) on equity method investment (708,020) (156,085) (486,803)
Other (expense) (74,223) (35,401) (954,394)
Total Other Expense, net (15,937,289) (9,135,782) (6,788,083)
(LOSS) INCOME BEFORE INCOME TAXES (2,383,550) (77,618,580) 6,380,065
INCOME TAXES 1,749
NET (LOSS) INCOME (2,385,299) (77,618,580) 6,380,065
LESS: NET (LOSS) INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST 95,420 (4,740,332) 698,041
NET (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY (2,480,719) (72,878,248) 5,682,024
LESS: PREFERRED DIVIDENDS (640,922)    
NET (LOSS) INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF THE COMPANY (3,121,641) (72,878,248) 5,682,024
OTHER COMPREHENSIVE (LOSS) INCOME      
Unrealized foreign currency translation gain (loss) 2,895,972 7,156,773 (2,861,319)
COMPREHENSIVE INCOME (LOSS) 510,673 (70,461,807) 3,518,746
Less: comprehensive income (loss) attributable to the non-controlling interest 342,401 (4,095,594) 469,583
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY $ 168,272 $ (66,366,213) $ 3,049,163
NET (LOSS) INCOME PER ORDINARY SHARE;      
Basic and diluted (in Dollars per share) $ (0.03) $ (0.92) $ 0.07
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:      
Basic and diluted (in Shares) 84,906,368 79,121,471 79,055,053