$FVTI
Fortune Valley Treasures, Inc. Stock $fvti

$fvti Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000149315223016973 Filed on May 15, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q4
Revenue	$1.273M	$26.75K	$2.721M
YoY Change	-45.53%	-97.88%	6.82%
Cost Of Revenue	$652.8K	$677.4K	$1.575M
YoY Change	-40.63%	30.65%	25.28%
Gross Profit	$619.8K	$957.9K	$1.146M
YoY Change	-49.89%	28.87%	-11.18%
Gross Profit Margin	48.7%	3581.02%	42.11%
Selling, General & Admin	$1.041M	$964.6K	$3.337M
YoY Change	186.2%	80.99%	395.13%
% of Gross Profit	167.89%	100.7%	291.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$60.39K	$64.29K	$204.1K
YoY Change	-71.11%	-71.35%	-11.75%
% of Gross Profit	9.74%	6.71%	17.82%
Operating Expenses	$1.041M	$964.6K	$3.350M
YoY Change	186.2%	76.85%	389.52%
Operating Profit	-$420.8K	-$6.715K	-$2.205M
YoY Change	-148.18%	-103.39%	-464.17%
Interest Expense	$8.964K	$9.292K	-$10.32K
YoY Change	84.29%	-261.6%	166.67%
% of Operating Profit
Other Income/Expense, Net	-$2.512K	-$7.487K	$130.00
YoY Change	-11.95%	-220.56%	-99.74%
Pretax Income	-$423.3K	-$14.20K	-$4.058M
YoY Change	-148.63%	-107.16%	-723.41%
Income Tax	$21.53K	$74.97K	-$25.79K
% Of Pretax Income
Net Earnings	-$386.8K	-$88.82K	-$3.695M
YoY Change	-151.73%	-150.48%	-651.47%
Net Earnings / Revenue	-30.4%	-332.03%	-135.82%
Basic Earnings Per Share	-$0.02	-$0.01
Diluted Earnings Per Share	-$0.02	-$0.01	-$0.24
COMMON SHARES
Basic Shares Outstanding	15.66M shares	15.66M shares	15.66M shares
Diluted Shares Outstanding	15.66M shares	15.66M shares

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$75.95K	$20.19K	$165.7K
YoY Change	-10.99%	-86.59%	34.53%
Cash & Equivalents	$75.95K	$20.19K	$165.7K
Short-Term Investments
Other Short-Term Assets	$6.995K	$45.31K	$4.631K
YoY Change	-20.92%	-98.28%	-39.21%
Inventory	$76.80K	$85.27K	$148.9K
Prepaid Expenses	$2.876M	$3.032M	$3.002M
Receivables	$5.102M	$5.370M	$4.798M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$6.792M	$7.299M	$6.871M
YoY Change	26.55%	50.93%	35.54%
LONG-TERM ASSETS
Property, Plant & Equipment	$112.5K	$87.74K	$97.89K
YoY Change	-4.74%	-84.44%	-30.27%
Goodwill	$435.6K	$456.9K	$454.2K
YoY Change	-67.35%		-67.7%
Intangibles	$252.1K	$318.4K	$370.9K
YoY Change	-85.74%		-83.74%
Long-Term Investments
YoY Change
Other Assets	$673.6K	$863.5K	$1.121M
YoY Change	-75.52%	-67.28%	-51.38%
Total Long-Term Assets	$1.783M	$2.092M	$2.417M
YoY Change	-71.91%	-68.72%	-63.49%
TOTAL ASSETS
Total Short-Term Assets	$6.792M	$7.299M	$6.871M
Total Long-Term Assets	$1.783M	$2.092M	$2.417M
Total Assets	$8.575M	$9.390M	$9.288M
YoY Change	-26.8%	-18.51%	-20.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$692.0K	$716.4K	$688.8K
YoY Change	262.32%	120.86%	187.62%
Accrued Expenses	$553.0K	$600.9K	$502.4K
YoY Change	299.04%	322.69%	291.44%
Deferred Revenue	$116.8K	$140.7K	$139.3K
YoY Change	-54.38%		-63.57%
Short-Term Debt	$483.2K	$482.4K	$422.7K
YoY Change	132.31%	403.45%	317.61%
Long-Term Debt Due	$483.2K	$482.4K	$422.7K
YoY Change	132.31%		317.61%
Total Short-Term Liabilities	$2.739M	$2.668M	$2.485M
YoY Change	88.53%	89.9%	44.66%
LONG-TERM LIABILITIES
Long-Term Debt	$46.36K	$32.39K	$58.44K
YoY Change	-73.27%	-81.74%	-68.95%
Other Long-Term Liabilities	$200.8K	$234.0K	$245.0K
YoY Change	-19.99%	-19.2%	-23.09%
Total Long-Term Liabilities	$46.36K	$32.39K	$58.44K
YoY Change	-73.27%	-93.06%	-68.95%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.739M	$2.668M	$2.485M
Total Long-Term Liabilities	$46.36K	$32.39K	$58.44K
Total Liabilities	$2.986M	$2.934M	$2.788M
YoY Change	59.07%	27.26%	25.35%
SHAREHOLDERS EQUITY
Retained Earnings	-$4.980M	-$4.593M	-$4.504M
YoY Change	199.05%		75.84%
Common Stock	$11.08M	$11.08M	$11.08M
YoY Change	0.0%		0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$5.580M	$6.348M	$6.392M
YoY Change
Total Liabilities & Shareholders Equity	$8.575M	$9.390M	$9.288M
YoY Change	-26.8%	-18.51%	-20.54%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2022 Q4
OPERATING ACTIVITIES
Net Income	-$386.8K	-$88.82K	-$3.695M
YoY Change	-151.73%	-150.48%	-651.47%
Depreciation, Depletion And Amortization	$60.39K	$64.29K	$204.1K
YoY Change	-71.11%	-71.35%	-11.75%
Cash From Operating Activities	$89.09K	-$174.9K	-$41.51K
YoY Change	-176.8%	-231.07%	-116.27%
INVESTING ACTIVITIES
Capital Expenditures	$4.790K	$700.00	$10.11K
YoY Change			-568.06%
Acquisitions
YoY Change
Other Investing Activities			$0.00
YoY Change			-100.0%
Cash From Investing Activities	-$4.790K	-$702.00	-$10.11K
YoY Change			-109.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	11.78K	$31.02K	-41.88K
YoY Change	-74.45%	-132.43%	-89.64%
NET CHANGE
Cash From Operating Activities	89.09K	-$174.9K	-41.51K
Cash From Investing Activities	-4.790K	-$702.00	-10.11K
Cash From Financing Activities	11.78K	$31.02K	-41.88K
Net Change In Cash	96.08K	-$145.5K	-93.50K
YoY Change	-237.45%		117.49%
FREE CASH FLOW
Cash From Operating Activities	$89.09K	-$174.9K	-$41.51K
Capital Expenditures	$4.790K	$700.00	$10.11K
Free Cash Flow	$84.30K	-$175.6K	-$51.62K
YoY Change	-172.67%	-231.6%	-120.07%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
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CY2022Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts		usd
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CY2021Q4	FVTI	Prepaid Assets Allowance For Doubtful Accounts Current PrepaidAssetsAllowanceForDoubtfulAccountsCurrent		usd
CY2021Q4	FVTI	Deposits Assets Allowance For Doubtful Accounts DepositsAssetsAllowanceForDoubtfulAccounts		usd
CY2023Q1	FVTI	Long Term Debt Maturities Repayments Of Principal After Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearTwo		usd
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	001-38308
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	Fortune Valley Treasures, Inc.
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	32-0439333
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	B1601 Donogfang Yinxiang Building
CY2023Q1	dei	Entity Address Address Line2 EntityAddressAddressLine2	No. 139 Liansheng Road
CY2023Q1	dei	Entity Address Address Line3 EntityAddressAddressLine3	Humen Town
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Dongguan
CY2023Q1	dei	Entity Address Country EntityAddressCountry	CN
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	523000
CY2023Q1	dei	City Area Code CityAreaCode	(86)
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	769-85729133
CY2023Q1	dei	Security12g Title Security12gTitle	Common stock, par value $0.001 per share
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
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CY2023Q1	us-gaap	Goodwill Goodwill	456857	usd
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CY2023Q1	us-gaap	Short Term Borrowings ShortTermBorrowings	482409	usd
CY2022Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	422653	usd
CY2023Q1	us-gaap	Taxes Payable Current TaxesPayableCurrent	32417	usd
CY2022Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	38879	usd
CY2023Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	140664	usd
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CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	2484582	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	32392	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	58438	usd
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CY2022Q4	us-gaap	Liabilities Liabilities	2788033	usd
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000	shares
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CY2022Q1	us-gaap	Profit Loss ProfitLoss	175959	usd
CY2022Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	10720	usd
CY2022Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	9651033	usd
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-89176	usd
CY2022Q1	us-gaap	Profit Loss ProfitLoss	175959	usd
CY2023Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	64294	usd
CY2022Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	224423	usd
CY2023Q1	FVTI	Noncash Lease Expense NoncashLeaseExpense	34833	usd
CY2022Q1	FVTI	Noncash Lease Expense NoncashLeaseExpense	49712	usd
CY2023Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	276769	usd
CY2023Q1	us-gaap	Gain Loss On Disposition Of Intangible Assets GainLossOnDispositionOfIntangibleAssets	-1526	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	546350	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-785262	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-64778	usd
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	66676	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	53733	usd
CY2022Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	446876	usd
CY2022Q1	us-gaap	Increase Decrease In Due From Related Parties IncreaseDecreaseInDueFromRelatedParties	-167	usd
CY2023Q1	us-gaap	Increase Decrease In Deposit Other Assets IncreaseDecreaseInDepositOtherAssets	11881	usd
CY2022Q1	us-gaap	Increase Decrease In Deposit Other Assets IncreaseDecreaseInDepositOtherAssets	327389	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	23682	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	-74504	usd
CY2023Q1	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	12199	usd
CY2022Q1	us-gaap	Increase Decrease In Due To Related Parties IncreaseDecreaseInDueToRelatedParties	-112717	usd
CY2023Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	517	usd
CY2022Q1	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-31914	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	95903	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	27819	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-6716	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-25754	usd
CY2023Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-41550	usd
CY2022Q1	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-44070	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-174905	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	133442	usd
CY2023Q1	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	702	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-702	usd
CY2023Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	67963	usd
CY2023Q1	us-gaap	Repayments Of Bank Debt RepaymentsOfBankDebt	27062	usd
CY2022Q1	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	78761	usd
CY2023Q1	FVTI	Repayments To Third Party RepaymentsToThirdParty	9884	usd
CY2022Q1	FVTI	Repayments To Third Party RepaymentsToThirdParty	16877	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	31017	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-95638	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	-909	usd
CY2022Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	-10354	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-145499	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	27450	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	165685	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	123163	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	20186	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	150613	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	9292	usd
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	5825	usd
CY2023Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	121883	usd
CY2022Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	64784	usd
CY2023Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	25185	usd
CY2023Q1	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_842_eus-gaap--UseOfEstimates_zynDl8yCttRk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_864_zMWPzT5ShFKf">Use of estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to going concern, allowance of credit losses, allowance of deferred tax asset and uncertain tax position, implicit interest rate of operating leases, useful lives and impairment of long-lived assets, and impairment of goodwill. Actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1635289	usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1261810	usd
CY2023Q1	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	140664	usd
CY2022Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	139334	usd
CY2023Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	9786	usd
CY2023Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	3032303	usd
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	3001866	usd
CY2023Q1	us-gaap	Other Assets Current OtherAssetsCurrent	45314	usd
CY2022Q4	us-gaap	Other Assets Current OtherAssetsCurrent	4631	usd
CY2023Q1	FVTI	Prepaid Expense And Other Assets Current Gross PrepaidExpenseAndOtherAssetsCurrentGross	3077617	usd
CY2022Q4	FVTI	Prepaid Expense And Other Assets Current Gross PrepaidExpenseAndOtherAssetsCurrentGross	3006497	usd
CY2023Q1	FVTI	Prepaid Assets Allowance For Doubtful Accounts Current PrepaidAssetsAllowanceForDoubtfulAccountsCurrent	1254386	usd
CY2022Q4	FVTI	Prepaid Assets Allowance For Doubtful Accounts Current PrepaidAssetsAllowanceForDoubtfulAccountsCurrent	1247580	usd
CY2023Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1823231	usd
CY2022Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1758917	usd
CY2022Q4	FVTI	Prepaid Assets Allowance For Doubtful Accounts Current PrepaidAssetsAllowanceForDoubtfulAccountsCurrent	1247580	usd
CY2023Q1	FVTI	Prepaid Assets Allowance For Doubtful Accounts Additions PrepaidAssetsAllowanceForDoubtfulAccountsAdditions	-499	usd
CY2022	FVTI	Prepaid Assets Allowance For Doubtful Accounts Additions PrepaidAssetsAllowanceForDoubtfulAccountsAdditions	1284005	usd
CY2023Q1	FVTI	Prepaid Assets Allowance For Doubtful Accounts Foreign Currency Translation Adjustment PrepaidAssetsAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment	7305	usd
CY2022	FVTI	Prepaid Assets Allowance For Doubtful Accounts Foreign Currency Translation Adjustment PrepaidAssetsAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment	-36425	usd
CY2023Q1	FVTI	Prepaid Assets Allowance For Doubtful Accounts Current PrepaidAssetsAllowanceForDoubtfulAccountsCurrent	1254386	usd
CY2022Q4	FVTI	Prepaid Assets Allowance For Doubtful Accounts Current PrepaidAssetsAllowanceForDoubtfulAccountsCurrent	1247580	usd
CY2023Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	242906	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	242906	usd
CY2023Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	155162	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	145016	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	87744	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	97890	usd
CY2023Q1	us-gaap	Depreciation Depreciation	10183	usd
CY2022Q1	us-gaap	Depreciation Depreciation	12466	usd
CY2023Q1	FVTI	Deposits Assets Noncurrent Gross DepositsAssetsNoncurrentGross	2391336	usd
CY2022Q4	FVTI	Deposits Assets Noncurrent Gross DepositsAssetsNoncurrentGross	2365652	usd
CY2023Q1	FVTI	Deposits Assets Allowance For Doubtful Accounts DepositsAssetsAllowanceForDoubtfulAccounts	1527819	usd
CY2022Q4	FVTI	Deposits Assets Allowance For Doubtful Accounts DepositsAssetsAllowanceForDoubtfulAccounts	1244350	usd
CY2023Q1	us-gaap	Deposits Assets Noncurrent DepositsAssetsNoncurrent	863517	usd
CY2022Q4	us-gaap	Deposits Assets Noncurrent DepositsAssetsNoncurrent	1121302	usd
CY2022Q4	FVTI	Deposits Assets Allowance For Doubtful Accounts DepositsAssetsAllowanceForDoubtfulAccounts	1244350	usd
CY2023Q1	FVTI	Deposits Paid Allowance For Doubtful Accounts Additions DepositsPaidAllowanceForDoubtfulAccountsAdditions	277268	usd
CY2022	FVTI	Deposits Paid Allowance For Doubtful Accounts Additions DepositsPaidAllowanceForDoubtfulAccountsAdditions	1280681	usd
CY2023Q1	FVTI	Deposits Paid Allowance For Doubtful Accounts Foreign Currency Translation Adjustment DepositsPaidAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment	6201	usd
CY2022	FVTI	Deposits Paid Allowance For Doubtful Accounts Foreign Currency Translation Adjustment DepositsPaidAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment	-36331	usd
CY2023Q1	FVTI	Deposits Assets Allowance For Doubtful Accounts DepositsAssetsAllowanceForDoubtfulAccounts	1527819	usd
CY2022Q4	FVTI	Deposits Assets Allowance For Doubtful Accounts DepositsAssetsAllowanceForDoubtfulAccounts	1244350	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	3163030	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	3145444	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1887441	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1822875	usd
CY2023Q1	FVTI	Finite Lived Intangible Assets Impairment Loss FiniteLivedIntangibleAssetsImpairmentLoss	957215	usd
CY2022Q4	FVTI	Finite Lived Intangible Assets Impairment Loss FiniteLivedIntangibleAssetsImpairmentLoss	951643	usd
CY2023Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	318374	usd
CY2022Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	370926	usd
CY2023Q1	us-gaap	Adjustment For Amortization AdjustmentForAmortization	54111	usd
CY2022Q1	us-gaap	Adjustment For Amortization AdjustmentForAmortization	211957	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	161697	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	145016	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	5255	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	5255	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	1151	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	318374	usd
CY2023Q1	us-gaap	Revenues Revenues	26750	usd
CY2022Q1	us-gaap	Revenues Revenues	725	usd
CY2023Q1	us-gaap	Related Party Transaction Purchases From Related Party RelatedPartyTransactionPurchasesFromRelatedParty	240220	usd
CY2022Q1	us-gaap	Related Party Transaction Purchases From Related Party RelatedPartyTransactionPurchasesFromRelatedParty	136912	usd
CY2023Q1	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.21	pure
CY2023Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.25	pure
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	74974	usd
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	22407	usd
CY2023Q1	us-gaap	Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential	-5.279	pure
CY2022Q1	us-gaap	Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential	0.113	pure
CY2023Q1	us-gaap	Lessee Operating Lease Description LesseeOperatingLeaseDescription	the Company has nineteen separate operating lease agreements for three office spaces, one warehouse and fifteen stores in PRC with remaining lease terms of from 4 months to 49 months.
CY2023Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	38090	usd
CY2022Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	42499	usd
CY2023Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	38090	usd
CY2022Q1	us-gaap	Operating Lease Cost OperatingLeaseCost	42499	usd
CY2023Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	42179	usd
CY2022Q1	us-gaap	Operating Lease Payments OperatingLeasePayments	51477	usd
CY2023Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y10M28D
CY2022Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P3Y7M28D
CY2023Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0323	pure
CY2022Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.0323	pure
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	105231	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	119801	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	104701	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	42953	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	5823	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	378509	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	20693	usd
CY2023Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	357816	usd
CY2023Q1	us-gaap	Long Term Debt LongTermDebt	514801	usd
CY2022Q4	us-gaap	Long Term Debt LongTermDebt	481091	usd
CY2023Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	482409	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	422653	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	32392	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	58438	usd
CY2023Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	9292	usd
CY2022Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	5825	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	388325	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	126476	usd
CY2023Q1	us-gaap	Long Term Debt LongTermDebt	514801	usd

Files In Submission

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0001493152-23-016973-index.html	Edgar Link	pending
0001493152-23-016973.txt	Edgar Link	pending
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report.css	Edgar Link	pending
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fvti-20230331_cal.xml	Edgar Link	unprocessable
fvti-20230331_pre.xml	Edgar Link	unprocessable

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$FVTI
Fortune Valley Treasures, Inc. Stock $fvti

2023 Q2 Form 10-Q Financial Statement

#000149315223016973 Filed on May 15, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

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$FVTI Fortune Valley Treasures, Inc. Stock $fvti

2023 Q2 Form 10-Q Financial Statement

#000149315223016973 Filed on May 15, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FVTI
Fortune Valley Treasures, Inc. Stock $fvti