2024 Q2 Form 10-Q Financial Statement

#000149315224023624 Filed on June 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $1.333M $26.39K $792.1K
YoY Change -9.72% -96.5% -33.78%
Cost Of Revenue $480.1K $788.9K $900.6K
YoY Change -47.24% 20.76% -11.28%
Gross Profit $852.6K $62.67K -$108.5K
YoY Change 52.24% -38.21% -159.93%
Gross Profit Margin 63.97% 237.51% -13.7%
Selling, General & Admin $664.2K $583.0K $998.3K
YoY Change 14.12% -3.53% 41.56%
% of Gross Profit 77.9% 930.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $94.11K $106.3K $100.7K
YoY Change 6.33% 1.66% -1.91%
% of Gross Profit 11.04% 169.62%
Operating Expenses $664.2K $1.473M $998.3K
YoY Change -57.99% 12.71% 41.56%
Operating Profit -$268.8K -$621.2K -$1.107M
YoY Change 156.59% 12.55% 111.16%
Interest Expense $200.00 $110.00 $150.00
YoY Change -62.07% -87.9%
% of Operating Profit
Other Income/Expense, Net $92.57K $17.65K $95.10K
YoY Change 663.2% -22.07% 1090.24%
Pretax Income -$176.3K -$603.6K -$1.012M
YoY Change 90.26% 14.03% 96.45%
Income Tax $526.00 $13.64K
% Of Pretax Income
Net Earnings -$176.8K -$603.6K -$1.025M
YoY Change 81.23% 13.93% 98.92%
Net Earnings / Revenue -13.27% -2287.58% -129.43%
Basic Earnings Per Share -$0.01 -$0.02
Diluted Earnings Per Share -$0.01 -$0.02 -$0.04
COMMON SHARES
Basic Shares Outstanding 25.00M shares 25.00M shares 25.00M shares
Diluted Shares Outstanding 25.00M shares 25.00M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $614.7K $305.0K $443.8K
YoY Change 92.09% -38.62% -13.01%
Cash & Equivalents $614.7K $305.0K $443.8K
Short-Term Investments
Other Short-Term Assets $350.2K $285.2K $173.0K
YoY Change 34.69% 43.42% -19.05%
Inventory $483.5K $459.4K $441.1K
Prepaid Expenses
Receivables $309.4K $379.8K $253.6K
Other Receivables $101.9K $102.4K $12.40K
Total Short-Term Assets $1.788M $1.696M $1.497M
YoY Change 2.57% -16.31% -24.22%
LONG-TERM ASSETS
Property, Plant & Equipment $1.677M $1.551M $1.680M
YoY Change -1.44% -17.4% -14.81%
Goodwill
YoY Change
Intangibles $5.714K $3.398K $3.917K
YoY Change 76.3% 211.17% 208.67%
Long-Term Investments $210.00 $83.17K $84.51K
YoY Change -99.74% -4.81% -2.85%
Other Assets $4.710K $0.00
YoY Change -52.9% -100.0%
Total Long-Term Assets $3.720M $3.763M $3.345M
YoY Change 49.76% 34.75% 8.78%
TOTAL ASSETS
Total Short-Term Assets $1.788M $1.696M $1.497M
Total Long-Term Assets $3.720M $3.763M $3.345M
Total Assets $5.508M $5.459M $4.842M
YoY Change 30.3% 13.28% -4.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $590.7K $487.9K $478.5K
YoY Change 25.48% 10.83% 20.07%
Accrued Expenses $2.252M $2.395M $2.927M
YoY Change -16.59% -17.9% -7.27%
Deferred Revenue
YoY Change
Short-Term Debt $82.56K $83.10K $84.51K
YoY Change 3.2% -4.89% -2.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.217M $5.946M $5.964M
YoY Change 34.08% 10.15% 12.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.744M $1.902M $789.5K
YoY Change 730.35% 958.77% 305.43%
Total Long-Term Liabilities $1.744M $1.902M $789.5K
YoY Change 730.35% 958.77% 305.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.217M $5.946M $5.964M
Total Long-Term Liabilities $1.744M $1.902M $789.5K
Total Liabilities $7.961M $7.848M $6.754M
YoY Change 64.39% 40.7% 22.42%
SHAREHOLDERS EQUITY
Retained Earnings -$18.00M -$17.82M -$17.22M
YoY Change 14.24% 13.82% 12.92%
Common Stock $250.00 $250.00 $250.00
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.453M -$2.389M -$1.912M
YoY Change
Total Liabilities & Shareholders Equity $5.508M $5.459M $4.842M
YoY Change 30.3% 13.28% -4.13%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$176.8K -$603.6K -$1.025M
YoY Change 81.23% 13.93% 98.92%
Depreciation, Depletion And Amortization $94.11K $106.3K $100.7K
YoY Change 6.33% 1.66% -1.91%
Cash From Operating Activities $113.1K -$461.5K -$1.172M
YoY Change -5.73% -2.38% 452.9%
INVESTING ACTIVITIES
Capital Expenditures $199.0K $41.05K $79.52K
YoY Change 1890.1% 2251.26% -23.71%
Acquisitions
YoY Change
Other Investing Activities $90.00 -$3.320K
YoY Change -99.91%
Cash From Investing Activities -$198.9K -$41.05K -$82.84K
YoY Change 1889.2% 692.38% -97.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 412.8K $383.8K 1.210M
YoY Change -258.75% -12.29% -240.14%
NET CHANGE
Cash From Operating Activities 113.1K -$461.5K -1.172M
Cash From Investing Activities -198.9K -$41.05K -82.84K
Cash From Financing Activities 412.8K $383.8K 1.210M
Net Change In Cash 327.0K -$126.0K -44.63K
YoY Change -317.97% 236.23% -99.11%
FREE CASH FLOW
Cash From Operating Activities $113.1K -$461.5K -$1.172M
Capital Expenditures $199.0K $41.05K $79.52K
Free Cash Flow -$85.89K -$502.5K -$1.252M
YoY Change -178.08% 5.92% 295.82%

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CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
383802 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
437560 usd
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-7270 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2836 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-125972 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-37466 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
466966 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
619900 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
340994 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
582434 usd
CY2023Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1 for 2 reverse stock split
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
24999834 shares
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-603600 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-529784 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-461451 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-472681 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17823992 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
443758 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
305027 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_ztgGvKHQ7mY9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_867_z5ySTHqi8dS3">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In preparing consolidated financial statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Significant estimates required by management, include the recoverability of long-lived assets, allowance for doubtful accounts, and the reserve for obsolete and slow-moving inventories. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
87287 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
80640 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
80640 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
272550 usd
CY2024Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8027 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
43816 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-1380 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1342 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
87287 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
230076 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
851559 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
754713 usd
CY2024Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1472805 usd
CY2023Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1306683 usd
CY2024Q1 us-gaap Inventory Write Down
InventoryWriteDown
9405 usd
CY2023Q1 us-gaap Inventory Write Down
InventoryWriteDown
18502 usd
CY2024Q1 us-gaap Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
0.05 pure
CY2024Q1 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p id="xdx_842_eus-gaap--RevenueRecognitionDeferredRevenue_z1ypJjwEvAoh" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_869_zWWkOKxuGJPb">Unearned Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s unearned revenue primarily consists of advances received from customers for the purchase of products prior to the delivery of goods, and for the rental of hotel rooms prior to the delivery of service. The delivery of products and room rental services is based upon contract terms and customer demand, normally within one year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zUQzZG4puZd2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_86F_z2YGcgeQKM21">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The operations of the Company are in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by the political, economic, and legal environments in the PRC, and by the general state of the PRC economy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company has cash on hand and demand deposits in accounts maintained with state-owned banks within the PRC. Cash in state-owned banks is covered by insurance up to RMB <span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uRMB_c20240331_zhr3ca9YHvQ1">500,000</span> ($<span id="xdx_908_eus-gaap--CashFDICInsuredAmount_iI_uUSD_c20240331_zySoTt00Vgw5">72,500</span>) per bank. As of March 31, 2024 and December 31, 2023, <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Company has uninsured deposits in banks of <span style="background-color: white">$<span id="xdx_90E_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20240331_zNh9zTLqyzm6" title="Uninsured deposits">133,279</span> and $<span id="xdx_900_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20231231_z36FxJFQR65" title="Uninsured deposits">289,059</span> held in the PRC.</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company has not experienced any losses in such accounts and believes they are not exposed to any risks on its cash in these bank accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the three months ended March 31, 2024 and 2023, the Company had no customer that accounted for over 10% of its total revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_z6BdPveGTxYc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the three months ended March 31, 2024, the Company had one major supplier that accounted for over 10% of its total purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zPcTNDBuW9O" style="display: none">SCHEDULE OF CONCENTRATION OF RISK BY RISK FACTORS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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="border-bottom: Black 1.5pt solid; font-weight: bold">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net purchases for the<br/> three months ended<br/> March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">% of total purchase</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_ecustom--PurchaseCost_pp0p0_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierAMember_zaRDrdoz7Kta" style="width: 14%; text-align: right" title="Net purchases">44,920</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--ConcentrationRiskPercentage1_pid_dp_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierAMember_zZnLWYvJFcRh" style="width: 14%; text-align: right" title="Percentage of total purchase">12</td><td style="width: 1%; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the three months ended March 31, 2023, the Company had two major suppliers that accounted for over 10% of its total purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </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="border-bottom: Black 1.5pt solid; font-weight: bold">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net purchases for the<br/> three months ended<br/> March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">% of total purchase</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">B</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--PurchaseCost_pp0p0_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zzDjt4vKaxpi" style="width: 14%; text-align: right" title="Net purchases">68,717</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_98E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zltkt8AZ18V8" style="width: 14%; text-align: right" title="Percentage of total purchase">17</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>C</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--PurchaseCost_pp0p0_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zLUqKxT1hx8c" style="text-align: right" title="Net purchases">61,737</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zstpqzaM4tsi" style="text-align: right" title="Percentage of total purchase">15</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A6_zl46R0YSxSAl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
500000
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
72500 usd
CY2024Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
133279 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
289059 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-621246 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-551970 usd
CY2024Q1 us-gaap Assets
Assets
5459054 usd
CY2023Q4 us-gaap Assets
Assets
4842358 usd
CY2024Q1 us-gaap Deposit Assets
DepositAssets
40383 usd
CY2023Q4 us-gaap Deposit Assets
DepositAssets
8978 usd
CY2024Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
106413 usd
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
128378 usd
CY2024Q1 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
9447 usd
CY2023Q4 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
8667 usd
CY2024Q1 us-gaap Other Assets
OtherAssets
31728 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
24808 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
187971 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
170831 usd
CY2024Q1 us-gaap Supplies
Supplies
225294 usd
CY2023Q4 us-gaap Supplies
Supplies
152563 usd
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
110218 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
114005 usd
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2875 usd
CY2024Q1 AIXN Drugs Pharmaceutical And Nutritional Products
DrugsPharmaceuticalAndNutritionalProducts
358387 usd
CY2023Q4 AIXN Drugs Pharmaceutical And Nutritional Products
DrugsPharmaceuticalAndNutritionalProducts
324588 usd
CY2024Q1 AIXN Inventory Food And Beverage Hotel Supplies And Consumables Gross
InventoryFoodAndBeverageHotelSuppliesAndConsumablesGross
75439 usd
CY2023Q4 AIXN Inventory Food And Beverage Hotel Supplies And Consumables Gross
InventoryFoodAndBeverageHotelSuppliesAndConsumablesGross
81969 usd
CY2024Q1 us-gaap Inventory Gross
InventoryGross
546919 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
520562 usd
CY2024Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
87503 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
79464 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
459416 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
441098 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2965101 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3010372 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1413890 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1330697 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1551211 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1679675 usd
CY2024Q1 us-gaap Depreciation
Depreciation
105842 usd
CY2023Q1 us-gaap Depreciation
Depreciation
104400 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12309 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12516 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8911 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8599 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3398 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3917 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
457 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
161 usd
CY2024Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
37746 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
6439 usd
CY2024Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
29498 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
29998 usd
CY2024Q1 AIXN City Construction Tax Payable Current
CityConstructionTaxPayableCurrent
2520 usd
CY2023Q4 AIXN City Construction Tax Payable Current
CityConstructionTaxPayableCurrent
1423 usd
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<p id="xdx_805_eus-gaap--LossContingencyDisclosures_zCMwKzlJuYE5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>17. <span id="xdx_829_zzxTqYvB4flb">OPERATING CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s sales, purchases and expenses are denominated in RMB and all of the Company’s assets and liabilities are also denominated in RMB. The RMB is not freely convertible into foreign currencies under the current law. In China, foreign exchange transactions are required by law to be transacted only by authorized financial institutions. Remittances in currencies other than RMB may require certain supporting documentation to affect the remittance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Litigation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company is, from time to time, involved in litigation incidental to the conduct of its business regarding merchandise sold, employment matters, and litigation regarding intellectual property rights.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In October 2020, Jian Yiao (the “Plaintiff”) filed a complaint against Chengdu Aixintang Pharmacy Co., Ltd. (“Aixintang Pharmacy”, or the “Defendant”) in Zhangjiagang People’s Court in Jiangsu Province. The complaint alleges that Jian Yiao is entitled to $<span id="xdx_90C_eus-gaap--LongTermPurchaseCommitmentAmount_c20201001__20201031_zJVzLutfu1l1" title="Purchase commitment amount">392,305</span> (RMB <span id="xdx_904_eus-gaap--LongTermPurchaseCommitmentAmount_uRMB_c20201001__20201031_zDMoy1A0t6U" title="Purchase commitment amount">2,500,000</span>) from Aixintang Pharmacy for not fulfilling the contractual obligation of a purchase agreement entered in March 2020 (the “Purchase Agreement”). Aixintang Pharmacy claimed that the Purchase Agreement was falsely entered by an employee through forged documents, and that Aixintang Pharmacy did not enter the Purchase Agreement. The Court determined that Aixintang Pharmacy breached the Purchase Agreement by not delivering the products ordered and ordered Aixintang Pharmacy to pay $<span id="xdx_90F_eus-gaap--LitigationSettlementExpense_c20201001__20201031_zE6hLlNRGDI8" title="Litigation settlement expense">392,305</span> (RMB <span id="xdx_905_eus-gaap--LitigationSettlementExpense_uRMB_c20201001__20201031_zUV8rxjj4zv8" title="Litigation settlement expense">2,500,000</span>) to the Plaintiff. In December 2020, Aixintang Pharmacy filed a motion of appeal in the Jiangsu Suzhou Intermediate People’s Court against the determination reached from the first trial.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In February 2021, the judge in the Jiangsu Suzhou Intermediate People’s Court denied the Defendant’s motion and upheld the judgment from the first trial. In March 2021, Aixintang Pharmacy filed another motion of re-trial to the Jiangsu High People’s Court on the basis that the Purchase Agreement was forged, the motion was accepted by Jiangsu High People’s Court in July 2021. In September 2022, the Court rejected the Defendant’s motion and upheld the judgment rendered in the second trial.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In April 2021, Jian Yiao applied for the first execution of the judgement; a total of $<span id="xdx_90F_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_c20210401__20210430__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_zrHbDbaaisad" title="Litigation settlement amount">97,748</span> (RMB <span id="xdx_907_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_uRMB_c20210401__20210430__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_zbWH8zZczl92" title="Litigation settlement amount">694,000</span>) was received. On June 13, 2023, Jian Yiao applied to execute for the balance. The total amount executed this time was $<span id="xdx_904_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_c20230613__20230613__srt--LitigationCaseAxis__custom--RestorationOfExecutionMember_zvn7PpEjVdfg" title="Litigation settlement amount">110,818</span> (RMB <span id="xdx_90D_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_uRMB_c20230613__20230613__srt--LitigationCaseAxis__custom--RestorationOfExecutionMember_zTXloagzw6f8" title="Litigation settlement amount">786,800</span>), and the remaining amount including overdue interest of $<span id="xdx_900_eus-gaap--LitigationSettlementInterest_c20230613__20230613__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_zlmEch3Lwmsk" title="Litigation settlement interest">139,692</span> (RMB <span id="xdx_909_eus-gaap--LitigationSettlementInterest_uRMB_c20230613__20230613__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_zaq4l2hoNCVd" title="Litigation settlement interest">991,800</span>) was not executed. To date, the amount that was frozen from this case was $<span id="xdx_902_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_c20210401__20210430__srt--LitigationCaseAxis__custom--FrozenCaseMember_zWiXmqi7JX17" title="Litigation settlement amount">44,292</span> (RMB <span id="xdx_90F_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_uRMB_c20210401__20210430__srt--LitigationCaseAxis__custom--FrozenCaseMember_zsWHvmrS58Rj" title="Litigation settlement amount">319,805</span>), the total amount executed was $<span id="xdx_904_eus-gaap--GainLossRelatedToLitigationSettlement_c20210401__20210430__srt--LitigationCaseAxis__custom--FrozenCaseMember_zvmQphaclLP5" title="Gain loss litigation settlement">212,412</span> (RMB <span id="xdx_90B_eus-gaap--GainLossRelatedToLitigationSettlement_pn4n6_uRMB_c20210401__20210430__srt--LitigationCaseAxis__custom--FrozenCaseMember_z2H9zkltIvn1" title="Gain loss litigation settlement">1.51</span> million), and the bank accounts of Chengdu Aixin Tang Haichuan Pharmacy Co., Ltd and its three branches were still frozen as of this report date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In November 2021, the Company and Mr. Quanzhong Lin agreed that Mr. Lin shall assume any losses arising from this legal proceeding. As such, the Company did not accrue contingent losses from this legal proceeding as of March 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company believes that current pending litigation will not have a material adverse effect on its consolidated financial position, results of operations or cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2020Q4 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
392305 usd
CY2020Q4 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
2500000
CY2020Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
392305 usd
CY2020Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
2500000
CY2024Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
102437 usd
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
12400 usd
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1679188 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1226885 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2024Q1 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
24999834 shares
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
92885 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
92885 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
208242 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y6M21D
CY2024Q1 AIXN Net Income Transfer Percentage
NetIncomeTransferPercentage
0.10 pure
CY2024Q1 AIXN Capital Reserve Percentage
CapitalReservePercentage
0.50 pure
CY2024Q1 AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd
CY2023Q1 AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd

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