2023 Q3 Form 20-F Financial Statement

#000121390024011180 Filed on February 08, 2024

View on sec.gov

Income Statement

Concept 2023 Q3 2023 2022 Q3
Revenue $6.156M $10.81M
YoY Change -43.08%
Cost Of Revenue $4.363M $6.003M
YoY Change -27.32%
Gross Profit $1.792M $4.811M
YoY Change -62.75%
Gross Profit Margin 29.12% 44.49%
Selling, General & Admin $7.468M $6.352M
YoY Change 17.57%
% of Gross Profit 416.62% 132.02%
Research & Development $873.4K
YoY Change 3.47%
% of Gross Profit 48.73%
Depreciation & Amortization $153.4K
YoY Change -9.66%
% of Gross Profit 8.56%
Operating Expenses $7.930M $6.352M
YoY Change 24.85%
Operating Profit -$6.138M -$1.540M
YoY Change 298.44%
Interest Expense $331.7K -$213.9K
YoY Change 55.07%
% of Operating Profit
Other Income/Expense, Net $494.5K -$9.510K
YoY Change -5299.31%
Pretax Income -$5.643M -$1.764M
YoY Change 219.94%
Income Tax $136.8K $354.5K
% Of Pretax Income
Net Earnings -$5.786M -$2.139M
YoY Change 170.47%
Net Earnings / Revenue -94.0% -19.78%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.31 -$0.15
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.553M $20.35M
YoY Change -67.8%
Cash & Equivalents $6.553M $20.35M
Short-Term Investments
Other Short-Term Assets $4.869M $1.022M
YoY Change 376.31%
Inventory $153.9K $153.9K
Prepaid Expenses
Receivables $39.33K $477.9K $257.6K
Other Receivables $0.00 $23.38K
Total Short-Term Assets $12.05M $12.05M $22.12M
YoY Change -45.5% -45.5% 300.02%
LONG-TERM ASSETS
Property, Plant & Equipment $314.7K $1.673M $344.0K
YoY Change -8.54% 386.29% -8.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.248M
YoY Change
Other Assets $473.4K $978.9K
YoY Change -51.64%
Total Long-Term Assets $7.394M $7.394M $1.323M
YoY Change 458.94% 458.94% 19.47%
TOTAL ASSETS
Total Short-Term Assets $12.05M $12.05M $22.12M
Total Long-Term Assets $7.394M $7.394M $1.323M
Total Assets $19.45M $19.45M $23.44M
YoY Change -17.03% -17.03% 253.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $974.3K $974.3K $665.4K
YoY Change 46.43% 46.42% 215.68%
Accrued Expenses $1.310M $1.734M
YoY Change -24.43%
Deferred Revenue
YoY Change
Short-Term Debt $33.72K $33.72K
YoY Change
Long-Term Debt Due $15.06K $933.4K
YoY Change -98.77% 201.41%
Total Short-Term Liabilities $10.82M $10.82M $12.57M
YoY Change -13.95% -13.95% -0.06%
LONG-TERM LIABILITIES
Long-Term Debt $3.207M $3.373M $2.095M
YoY Change 53.12% 57.88% 103.72%
Other Long-Term Liabilities $882.6K
YoY Change
Total Long-Term Liabilities $4.256M $4.256M $2.095M
YoY Change 103.19% 99.18% 103.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.82M $10.82M $12.57M
Total Long-Term Liabilities $4.256M $4.256M $2.095M
Total Liabilities $15.07M $15.02M $14.71M
YoY Change 2.49% 2.55% 3.01%
SHAREHOLDERS EQUITY
Retained Earnings -$14.84M -$9.007M
YoY Change 64.72% 33.23%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.428M $4.428M $8.792M
YoY Change
Total Liabilities & Shareholders Equity $19.45M $19.45M $23.44M
YoY Change -17.03% -17.03% 253.21%

Cashflow Statement

Concept 2023 Q3 2023 2022 Q3
OPERATING ACTIVITIES
Net Income -$5.786M -$2.139M
YoY Change 170.47%
Depreciation, Depletion And Amortization $153.4K
YoY Change -9.66%
Cash From Operating Activities -$7.942M
YoY Change -972.51%
INVESTING ACTIVITIES
Capital Expenditures $249.0K
YoY Change 43.02%
Acquisitions
YoY Change
Other Investing Activities -$5.476M
YoY Change
Cash From Investing Activities -$5.725M
YoY Change 3188.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $7.307M
YoY Change 1846.57%
Cash From Financing Activities $246.8K
YoY Change -98.68%
NET CHANGE
Cash From Operating Activities -$7.942M
Cash From Investing Activities -$5.725M
Cash From Financing Activities $246.8K
Net Change In Cash -$13.79M
YoY Change -172.02%
FREE CASH FLOW
Cash From Operating Activities -$7.942M
Capital Expenditures $249.0K
Free Cash Flow -$8.191M
YoY Change -1212.64%

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CY2023 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
721355 usd
CY2023 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-39698 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
59513 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3490191 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-885417 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1525710 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
101946 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-300923 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
498358 usd
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
336763 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
514569 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
158112 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1096865 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1759627 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
351024 usd
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-347986 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2023 gsun Increase Decrease Refund Liabilities
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104770 usd
CY2022 gsun Increase Decrease Refund Liabilities
IncreaseDecreaseRefundLiabilities
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CY2021 gsun Increase Decrease Refund Liabilities
IncreaseDecreaseRefundLiabilities
87635 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
159145 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
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-244579 usd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
133017 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
501164 usd
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2021 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31893 usd
CY2023 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
5447308 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
248964 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
174074 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
91145 usd
CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
28356 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-5724628 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-174074 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-91145 usd
CY2021 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-121471 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-174074 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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-212616 usd
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
18275182 usd
CY2023 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
247544 usd
CY2022 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
228896 usd
CY2021 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
2596206 usd
CY2023 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
212666 usd
CY2022 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
976622 usd
CY2021 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2073892 usd
CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
7570924 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2343893 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7307218 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
375389 usd
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
76811 usd
CY2023 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
166838 usd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-771089 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
5170734 usd
CY2023 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
-218621 usd
CY2022 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
61039 usd
CY2021 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
307243 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
151646 usd
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
240815 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
246801 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
18634264 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
5682665 usd
CY2021 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
-7686234 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
246801 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18634264 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2003569 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-374962 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-215720 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
167061 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13794793 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19154721 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2017231 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20347501 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1192780 usd
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3210011 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6552708 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20347501 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1192780 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2563 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
147 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10441 usd
CY2023 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
352842 usd
CY2022 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
215617 usd
CY2021 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
139279 usd
CY2022 gsun Reclassification Of Deferred Issuance Costs
ReclassificationOfDeferredIssuanceCosts
496612 usd
CY2023 gsun Operating Lease Right Of Use Assets Obtained In Exchange For Operating Lease Obligations
OperatingLeaseRightOfUseAssetsObtainedInExchangeForOperatingLeaseObligations
1727924 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Uses of estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions. Furthermore, when testing assets for impairment in future periods, if management uses different assumptions or if different conditions occur, impairment charges may result. Significant estimates required to be made by management include, but are not limited to, determinations of the useful lives and valuation of long-lived assets, valuation of inventories, estimates of allowances for doubtful accounts, contract assets, commission payables, refund liabilities, revenue recognition, and valuation allowance for deferred tax assets. </p>
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
7263 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
23384 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
13465 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
92086 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
153851 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
153851 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
10378 usd
CY2022Q3 us-gaap Other Receivables
OtherReceivables
48373 usd
CY2023 us-gaap Revenues
Revenues
6155593 usd
CY2022 us-gaap Revenues
Revenues
10814656 usd
CY2021 us-gaap Revenues
Revenues
15026991 usd
CY2023Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
2400000 usd
CY2023Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
17500000 cny
CY2023Q3 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
2400000 usd
CY2023Q3 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
17500000 cny
CY2023 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
639680 usd
CY2022 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1141544 usd
CY2021 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1097346 usd
CY2023Q3 us-gaap Deposit Contracts Assets
DepositContractsAssets
423532 usd
CY2023 us-gaap Revenues
Revenues
6155593 usd
CY2022 us-gaap Revenues
Revenues
10814656 usd
CY2021 us-gaap Revenues
Revenues
15026991 usd
CY2022Q3 us-gaap Deposit Contracts Assets
DepositContractsAssets
333314 usd
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
3988699 usd
CY2022Q3 us-gaap Deferred Revenue
DeferredRevenue
4435393 usd
CY2023Q3 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
333030 usd
CY2022Q3 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
237691 usd
CY2023 gsun Government Subsidies Income
GovernmentSubsidiesIncome
853444 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
211769 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
276767 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
247952 usd
CY2023 gsun Value Added Tax Percentage
ValueAddedTaxPercentage
0.13 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.50 pure
CY2023Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2639258 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2573830 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-2118349 usd
CY2023 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
4659063 usd
CY2023 gsun Net Loss Increased
NetLossIncreased
3661705 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentrations of risks</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Concentration of credit risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Assets that potentially subject the Company to a significant concentration of credit risk primarily consist of cash, accounts receivable and other current assets. The maximum exposure of such assets to credit risk is their carrying amounts as at the balance sheet dates. As of September 30, 2023 and 2022, the aggregate amount of cash of $3,431,979 and $2,155,389, respectively, was held at major financial institutions in mainland PRC, where there is a RMB 500,000 deposit insurance limit for a legal entity’s aggregated balance at each bank. As of September 30, 2023 and 2022, cash of $3,112,082 and $18,181,099, respectively, was held at major financial institutions in Hong Kong, PRC. The bank deposits with financial institutions in the Hong Kong Special Administrative Region are insured by the government authority up to HKD500,000. To limit the exposure to credit risk relating to deposits, the Company primarily places cash deposits with large financial institutions. The Company conducts credit evaluations of its customers and suppliers, and generally does not require collateral or other security from them. The Company establishes an accounting policy to provide for allowance for doubtful accounts based on the individual customer’s and supplier’s financial condition, credit history, and the current economic conditions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Foreign currency risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A majority of the Company’s expense transactions are denominated in RMB and a significant portion of the Company and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through the PBOC or other China foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the U.S. dollar in the future. The change in the value of the RMB relative to the U.S. dollar may affect the Company’s financial results reported in the U.S. dollar terms without giving effect to any underlying changes in the Company’s business or results of operations. Currently, the Company’s assets, liabilities, revenues and costs are denominated in RMB. To the extent that the Company needs to convert U.S. dollars into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends, strategic acquisition or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company.</p>
CY2023Q3 us-gaap Deposits
Deposits
500000 cny
CY2022 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
10814656 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-5780054 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7942004 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14835585 usd
CY2023Q3 gsun Working Capital
workingCapital
1238096 usd
CY2023Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
3988699 usd
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
33717 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3207237 usd
CY2023Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
52796 usd
CY2022Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
349703 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
13465 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
92086 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
39331 usd
CY2022Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
257617 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
92086 usd
CY2023 us-gaap Provision For Other Losses
ProvisionForOtherLosses
-71681 usd
CY2022 us-gaap Provision For Other Losses
ProvisionForOtherLosses
123343 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
7263 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
23384 usd
CY2023 us-gaap Financing Receivable Allowance For Credit Loss Foreign Currency Translation
FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation
323 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Loss Foreign Currency Translation
FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation
-7873 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13465 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
92086 usd
CY2023Q3 us-gaap Prepaid Rent
PrepaidRent
191339 usd
CY2022Q3 us-gaap Prepaid Rent
PrepaidRent
75074 usd
CY2023Q3 gsun Prepaid Service Fee Noncurrent
PrepaidServiceFeeNoncurrent
597410 usd
CY2022Q3 gsun Prepaid Service Fee Noncurrent
PrepaidServiceFeeNoncurrent
590363 usd
CY2023Q3 gsun Prepaid Loans T Third Parties
PrepaidLoansTThirdParties
-238134 usd
CY2022Q3 gsun Prepaid Loans T Third Parties
PrepaidLoansTThirdParties
-780934 usd
CY2023Q3 gsun Advance To Empoloyees
AdvanceToEmpoloyees
378152 usd
CY2022Q3 gsun Advance To Empoloyees
AdvanceToEmpoloyees
140578 usd
CY2023Q3 us-gaap Advance Royalties
AdvanceRoyalties
5491 usd
CY2022Q3 us-gaap Advance Royalties
AdvanceRoyalties
35471 usd
CY2023Q3 us-gaap Security Deposit
SecurityDeposit
202155 usd
CY2022Q3 us-gaap Security Deposit
SecurityDeposit
323419 usd
CY2023Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
3602000 usd
CY2023Q3 gsun Prepaid Board Compensation
PrepaidBoardCompensation
16667 usd
CY2023Q3 us-gaap Other Assets
OtherAssets
111386 usd
CY2022Q3 us-gaap Other Assets
OtherAssets
55340 usd
CY2023Q3 gsun Prepayment And Other Assets Net
PrepaymentAndOtherAssetsNet
5342734 usd
CY2022Q3 gsun Prepayment And Other Assets Net
PrepaymentAndOtherAssetsNet
2001179 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4869347 usd
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1022309 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
473387 usd
CY2022Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
978870 usd
CY2023Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P12M
CY2023Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
473387 usd
CY2023 us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.05 pure
CY2023 gsun Allowance For Doubtful Accounts Receivable Provision
AllowanceForDoubtfulAccountsReceivableProvision
10378 usd
CY2022 gsun Allowance For Doubtful Accounts Receivable Provision
AllowanceForDoubtfulAccountsReceivableProvision
48373 usd
CY2023Q3 gsun Write Off Security Deposits
WriteOffSecurityDeposits
10378 usd
CY2022Q3 gsun Write Off Security Deposits
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CY2023Q3 us-gaap Property Plant And Equipment Gross
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CY2022Q3 us-gaap Property Plant And Equipment Gross
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CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
401866 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
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CY2022Q3 us-gaap Property Plant And Equipment Net
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344028 usd
CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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CY2021 us-gaap Depreciation
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CY2023 gsun Additions Form Long Term Investment
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CY2023 gsun Foreign Exchange Translation Effect Form Long Term Investment
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628 usd
CY2023Q3 us-gaap Long Term Investments
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CY2023Q1 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
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0.041 pure
CY2023Q3 gsun Amount Paid To Sharehoder
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4600000 usd
CY2023Q3 gsun Amount Paid To Sharehoder
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31583140 cny
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
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800000 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
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CY2023Q1 gsun Shareholders Designated Register Capital
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274123 usd
CY2023Q1 gsun Shareholders Designated Register Capital
ShareholdersDesignatedRegisterCapital
2000000 cny
CY2023Q3 gsun Shareholders Designated Register Capital
ShareholdersDesignatedRegisterCapital
41118 usd
CY2023Q3 gsun Shareholders Designated Register Capital
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300000 cny
CY2023 us-gaap Gain Loss On Investments
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CY2023 us-gaap Payments For Rent
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CY2022 us-gaap Payments For Rent
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CY2021 us-gaap Payments For Rent
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CY2023Q3 us-gaap Operating Lease Right Of Use Asset
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CY2023Q3 us-gaap Operating Lease Liability
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CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y3M
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0.079 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q3 us-gaap Operating Lease Liability
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CY2023 gsun Short Term Loan Maturing Term
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P1Y
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CY2023Q3 us-gaap Loans Held For Sale Maturity Date
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2022-12-12
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0.068 pure
CY2022 us-gaap Long Term Debt Weighted Average Interest Rate Over Time
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0.079 pure
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2023Q3 us-gaap Long Term Debt
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CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2022Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2023Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
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CY2022Q3 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
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CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q3 us-gaap Operating Loss Carryforwards
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CY2023Q3 gsun Valueadded Tax Payable
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CY2022Q3 gsun Valueadded Tax Payable
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CY2023 us-gaap Taxes Other
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CY2022 us-gaap Taxes Other
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CY2023Q3 us-gaap Taxes Payable Current
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CY2022Q3 us-gaap Taxes Payable Current
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CY2022Q3 us-gaap Unrecognized Tax Benefits
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CY2020Q3 us-gaap Unrecognized Tax Benefits
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2023Q3 us-gaap Unrecognized Tax Benefits
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CY2022Q3 us-gaap Unrecognized Tax Benefits
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CY2021Q3 us-gaap Unrecognized Tax Benefits
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CY2023Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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2639258 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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2573830 usd
CY2023Q3 us-gaap Taxes Payable Current And Noncurrent
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100 cny
CY2018Q3 us-gaap Common Stock Shares Issued
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2410 shares
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2410 shares
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1662.9 shares
CY2020Q4 us-gaap Dividends Stock
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50000 usd
CY2023 gsun Initial Public Offering Description
InitialPublicOfferingDescription
On June 24, 2022, the Company completed its IPO of 5,060,000 Class A ordinary shares at a public offering price of $4.00 per share. The Company received aggregate net proceeds of $17,626,924 from the offering, after deducting 7.5% of underwriting discounts and other related expenses of $648,258.
CY2023 gsun Purchase Rate
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0.075 pure
CY2023 gsun Warrant Exercise Price
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1.30 pure
CY2022Q3 us-gaap Common Stock Shares Issued
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295491 shares
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340000 shares
CY2023Q1 us-gaap Excess Stock Shares Issued
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340000 shares
CY2023Q1 us-gaap Capital Units
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850000 usd
CY2023Q3 us-gaap Common Stock Shares Outstanding
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19085491 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
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18355491 shares
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133596 usd
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120196 usd
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0.25 pure
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0.25 pure
CY2023 us-gaap Research And Development Expense
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873431 usd
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1032672 usd
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990008 usd
CY2023 us-gaap Revenues
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6155593 usd
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15026991 usd
CY2023 us-gaap Cost Of Revenue
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4363124 usd
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6003258 usd
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6210672 usd
CY2023 us-gaap Gross Profit
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1792469 usd
CY2022 us-gaap Gross Profit
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4811398 usd
CY2021 us-gaap Gross Profit
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CY2023 us-gaap Interest Revenue Expense Net
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331692 usd
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213894 usd
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212023 usd
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153405 usd
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169808 usd
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143562 usd
CY2023 us-gaap Capital Expenditure Discontinued Operations
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277320 usd
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174074 usd
CY2021 us-gaap Capital Expenditure Discontinued Operations
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CY2023Q3 us-gaap Assets
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CY2022Q3 us-gaap Assets
Assets
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CY2021Q3 us-gaap Assets
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2161400 usd
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0.50 pure
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0.25 pure
CY2022Q3 us-gaap Inventory Net
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CY2022Q3 us-gaap Long Term Investments
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CY2023Q3 us-gaap Commitments And Contingencies
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CY2022Q3 us-gaap Commitments And Contingencies
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CY2022Q3 us-gaap Common Stock Value
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CY2022 us-gaap Gain Loss On Investments
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CY2021 us-gaap Gain Loss On Investments
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2021 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.09
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.15
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.31
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.07
CY2021 gsun Discontinued Operations Weighted Average Number Of Diluted Shares Outstanding
DiscontinuedOperationsWeightedAverageNumberOfDilutedSharesOutstanding
13000000 shares
CY2022 gsun Discontinued Operations Weighted Average Number Of Diluted Shares Outstanding
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14433156 shares
CY2023 gsun Discontinued Operations Weighted Average Number Of Diluted Shares Outstanding
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CY2021 gsun Stock Issued During Period Value Statutory Reserve
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2022 us-gaap Gain Loss On Investments
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CY2021 us-gaap Share Based Compensation
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CY2023 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Increase Decrease In Inventories
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CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
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CY2021 us-gaap Increase Decrease In Operating Lease Liability
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