2024 Q2 Form 20-F Financial Statement

#000121390024043100 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $4.646M $8.158M $8.226M
YoY Change 27.77% 2.5% 2.48%
Cost Of Revenue $2.995M $4.835M $4.835M
YoY Change 44.44% 19.47% 19.47%
Gross Profit $1.652M $3.324M $3.324M
YoY Change 5.65% -15.06% -15.06%
Gross Profit Margin 35.55% 40.74% 40.41%
Selling, General & Admin $1.638M $950.4K $950.4K
YoY Change 149.98% -10.29% -10.29%
% of Gross Profit 99.19% 28.59% 28.59%
Research & Development $288.2K $630.8K $630.8K
YoY Change 28.22% 28.06% 28.06%
% of Gross Profit 17.45% 18.98% 18.98%
Depreciation & Amortization $250.6K $209.6K $404.9K
YoY Change 28.3% -23.02% 48.72%
% of Gross Profit 15.17% 6.3% 12.18%
Operating Expenses $1.927M $1.581M $1.581M
YoY Change 118.89% 1.88% 1.88%
Operating Profit -$274.8K $1.743M $1.743M
YoY Change -140.23% -26.2% -26.19%
Interest Expense -$15.17K -$55.02K $59.48K
YoY Change -37.26% 6.18% 10.16%
% of Operating Profit -3.16% 3.41%
Other Income/Expense, Net $23.71K $164.2K $34.44K
YoY Change 150.63% 8.66% -40.94%
Pretax Income -$273.4K $1.851M $1.851M
YoY Change -140.9% -24.76% -24.76%
Income Tax -$7.550K $344.6K $344.6K
% Of Pretax Income 18.61% 18.61%
Net Earnings -$265.8K $1.507M $1.507M
YoY Change -147.27% -29.37% -29.37%
Net Earnings / Revenue -5.72% 18.47% 18.32%
Basic Earnings Per Share $0.30
Diluted Earnings Per Share -$0.05 $0.30 $0.30
COMMON SHARES
Basic Shares Outstanding 6.208M shares 5.000M shares
Diluted Shares Outstanding 5.000M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.381M $1.056M $1.056M
YoY Change -13.13% -41.1% -41.1%
Cash & Equivalents $1.381M $1.056M $1.056M
Short-Term Investments
Other Short-Term Assets $263.3K $388.1K $388.1K
YoY Change -8.58% 57.83% 57.83%
Inventory $1.332M $1.217M $1.217M
Prepaid Expenses
Receivables $3.753M $3.518M $3.518M
Other Receivables $929.0K $12.34K $483.5K
Total Short-Term Assets $7.658M $6.663M $6.663M
YoY Change 13.74% 5.5% 5.5%
LONG-TERM ASSETS
Property, Plant & Equipment $3.668M $3.335M $3.335M
YoY Change 28.93% 25.99% 4.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.534M $715.8K $715.8K
YoY Change 288.68% 28.62% 28.62%
Total Long-Term Assets $6.202M $4.051M $4.051M
YoY Change 77.36% 7.93% 7.93%
TOTAL ASSETS
Total Short-Term Assets $7.658M $6.663M $6.663M
Total Long-Term Assets $6.202M $4.051M $4.051M
Total Assets $13.86M $10.71M $10.71M
YoY Change 35.49% 6.4% 6.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.263M $1.053M $1.053M
YoY Change 59.08% 46.62% 46.62%
Accrued Expenses $510.8K $474.6K $474.6K
YoY Change -16.64% -21.43% -21.43%
Deferred Revenue
YoY Change
Short-Term Debt $1.403M $282.4K $282.4K
YoY Change 1.39% -79.3% -79.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.152M $3.020M $3.020M
YoY Change 13.16% -23.08% -23.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $246.9K $0.00
YoY Change -100.0% 257.64% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.152M $3.020M $3.020M
Total Long-Term Liabilities $0.00 $246.9K $0.00
Total Liabilities $4.377M $3.267M $3.267M
YoY Change 14.04% -18.23% -18.23%
SHAREHOLDERS EQUITY
Retained Earnings $6.466M
YoY Change 30.38%
Common Stock $897.4K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.483M $7.447M $7.447M
YoY Change
Total Liabilities & Shareholders Equity $13.86M $10.71M $10.71M
YoY Change 35.49% 6.4% 6.4%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$265.8K $1.507M $1.507M
YoY Change -147.27% -29.37% -29.37%
Depreciation, Depletion And Amortization $250.6K $209.6K $404.9K
YoY Change 28.3% -23.02% 48.72%
Cash From Operating Activities -$663.2K $1.366M $1.300M
YoY Change 910.67% -52.13% -54.43%
INVESTING ACTIVITIES
Capital Expenditures $681.3K $740.0K $761.8K
YoY Change 3029.44% -48.59% -47.07%
Acquisitions
YoY Change
Other Investing Activities -$2.478M
YoY Change
Cash From Investing Activities -$3.159M -$740.0K -$761.8K
YoY Change 14412.08% -48.35% -46.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.154M -1.192M -$1.249M
YoY Change -7409.7% -820.08% -854.42%
NET CHANGE
Cash From Operating Activities -663.2K 1.366M $1.300M
Cash From Investing Activities -3.159M -740.0K -$761.8K
Cash From Financing Activities 4.154M -1.192M -$1.249M
Net Change In Cash 331.6K -566.6K -$737.1K
YoY Change -329.94% -135.74% -149.59%
FREE CASH FLOW
Cash From Operating Activities -$663.2K $1.366M $1.300M
Capital Expenditures $681.3K $740.0K $761.8K
Free Cash Flow -$1.344M $625.6K $538.2K
YoY Change 1438.48% -55.74% -61.92%

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CY2022 us-gaap Increase Decrease In Operating Lease Liability
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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2852697 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1439365 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6558 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
743376 usd
CY2022 us-gaap Proceeds From Contributions From Affiliates
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148675 usd
CY2022 us-gaap Payments Of Dividends
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352123 usd
CY2023 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
172179 usd
CY2022 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
144000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
12488 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
230372 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1248988 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
165556 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-26296 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1486290 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1793323 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
307033 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1056236 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1793323 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 us-gaap Income Taxes Paid
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205761 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
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CY2023 mten Shares Percentage
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0.4182 pure
CY2023 us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 disclosures of contingent assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, the assessment of the allowance for doubtful accounts, the allowance for inventory obsolescence, useful lives of property and equipment and intangible assets, the recoverability of long-lived assets, provision necessary for contingent liabilities, and realization of deferred tax assets. Actual results could differ from those estimates.</span></p>
CY2023 us-gaap Insurance Tax
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CY2023 us-gaap Insurance Tax
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CY2023Q4 us-gaap Inventory Adjustments
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CY2022Q4 us-gaap Inventory Adjustments
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CY2023Q4 us-gaap Capital Lease Obligations
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CY2022Q4 us-gaap Capital Lease Obligations
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CY2022Q4 us-gaap Operating Lease Liability Current
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CY2023 us-gaap Revenues
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CY2022 us-gaap Revenues
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CY2023 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
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CY2022 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
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CY2023Q4 us-gaap Shares Issued Price Per Share
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CY2022Q4 us-gaap Shares Issued Price Per Share
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CY2023 mten Value Added Tax Rate
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0.13 pure
CY2023 us-gaap Federal Deposit Insurance Corporation Premium Expense
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500000 cny
CY2023 us-gaap Federal Deposit Insurance Corporation Premium Expense
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72000 usd
CY2023 us-gaap Insurance Recoveries
InsuranceRecoveries
5462789 cny
CY2023 us-gaap Insurance Recoveries
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771286 usd
CY2022 us-gaap Insurance Recoveries
InsuranceRecoveries
11989775 cny
CY2022 us-gaap Insurance Recoveries
InsuranceRecoveries
1721531 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
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3540696 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023Q4 us-gaap Accounts Receivable Net Current
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CY2022Q4 us-gaap Accounts Receivable Net Current
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2429450 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2023 mten Accounts Receivable Reduction Addition
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CY2022 mten Accounts Receivable Reduction Addition
AccountsReceivableReductionAddition
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CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
477 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
357 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
23064 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
28594 usd
CY2023Q4 us-gaap Inventory Raw Materials
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55029 usd
CY2022Q4 us-gaap Inventory Raw Materials
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39485 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
135341 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
202412 usd
CY2023Q4 us-gaap Inventory Finished Goods
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1044733 usd
CY2022Q4 us-gaap Inventory Finished Goods
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831688 usd
CY2023Q4 us-gaap Inventory Adjustments
InventoryAdjustments
18058 usd
CY2022Q4 us-gaap Inventory Adjustments
InventoryAdjustments
12359 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
1217045 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1061226 usd
CY2023Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
4562880 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
3498470 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1227693 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
851305 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3335187 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2647165 usd
CY2023 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
376388 usd
CY2022 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
201232 usd
CY2023 us-gaap Deferred Policy Acquisition Costs Text Block1
DeferredPolicyAcquisitionCostsTextBlock1
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6 – DEFERRED OFFERING COSTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred offering costs are expenses directly related to the Company’s planned initial public offering (“IPO”). The deferred offering costs will offset against the IPO proceeds and will be reclassified to additional paid-in capital upon completion of the IPO.</span></p>
CY2020Q1 us-gaap Payments For Rent
PaymentsForRent
380240 cny
CY2020Q1 us-gaap Payments For Rent
PaymentsForRent
58275 usd
CY2022Q1 us-gaap Payments For Rent
PaymentsForRent
624240 cny
CY2022Q1 us-gaap Payments For Rent
PaymentsForRent
93012 usd
CY2021Q1 us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
458000 cny
CY2021Q1 us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
71835 usd
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1832000 cny
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
287341 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0104 pure
CY2021Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
4500000 cny
CY2021Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
710000 usd
CY2021Q1 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.0445 pure
CY2021Q1 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2022-03-28
CY2022Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
4500000 cny
CY2022Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
670000 usd
CY2022Q1 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.0445 pure
CY2022Q1 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2023-03-22
CY2022Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
5000000 cny
CY2022Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
750000 usd
CY2022Q1 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.04 pure
CY2022Q1 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2023-03-03
CY2022Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
2000000 cny
CY2022Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
300000 usd
CY2022Q1 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.0513 pure
CY2022Q1 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2022-04-01
CY2023Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
5000000 cny
CY2023Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
720000 usd
CY2023Q1 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.034 pure
CY2023Q1 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2024-01-30
CY2023Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
5000000 cny
CY2023Q1 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
720000 usd
CY2023Q1 us-gaap Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
0.037 pure
CY2023Q1 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2024-02-27
CY2023Q4 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
3000000 cny
CY2023Q4 us-gaap Shortterm Debt Maximum Amount Outstanding During Period
ShorttermDebtMaximumAmountOutstandingDuringPeriod
420000 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
379395 usd
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
502588 usd
CY2023Q4 mten Value Added Tax Payable
ValueAddedTaxPayable
121691 usd
CY2022Q4 mten Value Added Tax Payable
ValueAddedTaxPayable
264245 usd
CY2023Q4 us-gaap Construction Payable Current
ConstructionPayableCurrent
14615 usd
CY2022Q4 us-gaap Construction Payable Current
ConstructionPayableCurrent
32063 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
3598 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2081 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
519299 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
800977 usd
CY2023 mten Total Cost Of Revenues Related Parities
TotalCostOfRevenuesRelatedParities
293226 usd
CY2022 mten Total Cost Of Revenues Related Parities
TotalCostOfRevenuesRelatedParities
281201 usd
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
240309 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
316039 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2500000 cny
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
352123 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1000000 cny
CY2022Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
145345 usd
CY2023 mten Percentage Of After Tax Profits
PercentageOfAfterTaxProfits
0.10 pure
CY2023 mten Statutory Reserves Percentage
StatutoryReservesPercentage
0.50 pure
CY2022 us-gaap Statutory Accounting Practices Statutory Net Income Amount
StatutoryAccountingPracticesStatutoryNetIncomeAmount
465572 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-4304 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
3460 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
4289 usd
CY2023Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
2709 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
34440 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
58311 usd
CY2022 mten Effective Income Tax Rate Reconciliation Preferential Tax Treatment
EffectiveIncomeTaxRateReconciliationPreferentialTaxTreatment
0.15 pure
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
344586 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
327384 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2023 mten Effective Income Tax Rate Reconciliationdeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationdeductibleExpenseResearchAndDevelopment
-0.082 pure
CY2022 mten Effective Income Tax Rate Reconciliationdeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationdeductibleExpenseResearchAndDevelopment
-0.054 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.012 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.002 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.032 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.088 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.039 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.023 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.187 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.133 pure
CY2023 mten Favorable Tax Rate Amounted
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161637 usd
CY2022 mten Favorable Tax Rate Amounted
FavorableTaxRateAmounted
218256 usd
CY2023 mten Favorable Tax Rate Price Per Share
FavorableTaxRatePricePerShare
0.03
CY2022 mten Favorable Tax Rate Price Per Share
FavorableTaxRatePricePerShare
0.04
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
1854 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
253062 usd
CY2023Q4 mten Net Deferred Tax Assets Liabilities
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-246893 usd
CY2022Q4 mten Net Deferred Tax Assets Liabilities
NetDeferredTaxAssetsLiabilities
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CY2023 mten Schedule Of Movement Of Deferred Tax Liabilities And Assets Table Text Bllock
ScheduleOfMovementOfDeferredTaxLiabilitiesAndAssetsTableTextBllock
The movement of deferred tax liabilities and assets is as follows:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">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">2022</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: 76%; text-align: left">Balance at beginning of the year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">6,143</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,169</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current year (reduction) addition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(254,224</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,304</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Foreign exchange difference</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,188</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(330</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Balance at end of the year</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(246,893</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,143</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2022Q4 mten Net Deferred Tax Assets Liabilities
NetDeferredTaxAssetsLiabilities
6143 usd
CY2021Q4 mten Net Deferred Tax Assets Liabilities
NetDeferredTaxAssetsLiabilities
2169 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
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CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001948099

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