2024 Q2 Form 10-Q Financial Statement
#000149315224019316 Filed on May 14, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| Revenue | $1.958M | $2.955M | $2.346M |
| YoY Change | -14.16% | 25.97% | -37.2% |
| Cost Of Revenue | $2.116M | $3.151M | $2.278M |
| YoY Change | 3.98% | 38.31% | -35.11% |
| Gross Profit | -$158.2K | -$196.6K | $67.12K |
| YoY Change | -164.33% | -392.94% | -69.99% |
| Gross Profit Margin | -8.08% | -6.65% | 2.86% |
| Selling, General & Admin | $330.5K | $400.4K | $241.8K |
| YoY Change | 70.42% | 65.59% | -1.51% |
| % of Gross Profit | 360.21% | ||
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $165.5K | $165.5K | $131.1K |
| YoY Change | 30.63% | 26.24% | -8.14% |
| % of Gross Profit | 195.35% | ||
| Operating Expenses | $330.5K | $400.4K | $241.8K |
| YoY Change | 70.42% | 65.59% | -1.51% |
| Operating Profit | -$488.6K | -$597.0K | -$174.7K |
| YoY Change | -1041.2% | 241.8% | 699.46% |
| Interest Expense | $122.5K | $40.20K | |
| YoY Change | 204.85% | -14.47% | |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$93.55K | -$128.1K | -$15.61K |
| YoY Change | 16.13% | 720.95% | -66.68% |
| Pretax Income | -$582.2K | -$725.1K | -$190.3K |
| YoY Change | 1932.75% | 281.11% | 177.02% |
| Income Tax | -$8.587K | $9.055K | |
| % Of Pretax Income | |||
| Net Earnings | -$573.6K | -$725.1K | -$199.3K |
| YoY Change | 1498.02% | 263.79% | 159.8% |
| Net Earnings / Revenue | -29.3% | -24.54% | -8.5% |
| Basic Earnings Per Share | -$0.01 | -$0.02 | $0.00 |
| Diluted Earnings Per Share | -$0.01 | -$0.02 | $0.00 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 41.11M shares | 41.11M shares | 40.98M shares |
| Diluted Shares Outstanding | 41.11M shares | 41.11M shares | 40.98M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $5.100K | ||
| YoY Change | |||
| Cash & Equivalents | $2.231M | $2.231M | $654.4K |
| Short-Term Investments | |||
| Other Short-Term Assets | $484.0K | $266.6K | $342.8K |
| YoY Change | 53.64% | -22.23% | |
| Inventory | $728.8K | $740.8K | $1.679M |
| Prepaid Expenses | |||
| Receivables | $3.344M | ||
| Other Receivables | $0.00 | ||
| Total Short-Term Assets | $7.759M | $12.30M | $8.279M |
| YoY Change | -7.44% | 48.52% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $8.563M | $8.743M | $7.723M |
| YoY Change | 5.59% | 13.2% | |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $1.932M | $1.956M | $2.101M |
| YoY Change | -2.39% | -6.94% | |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $10.50M | $10.70M | $9.825M |
| YoY Change | 4.02% | 8.9% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $7.759M | $12.30M | $8.279M |
| Total Long-Term Assets | $10.50M | $10.70M | $9.825M |
| Total Assets | $18.25M | $22.99M | $18.10M |
| YoY Change | -1.18% | 27.02% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $10.49M | ||
| YoY Change | |||
| Accrued Expenses | |||
| YoY Change | |||
| Deferred Revenue | $345.8K | $348.1K | $361.5K |
| YoY Change | -9.25% | -3.71% | |
| Short-Term Debt | $2.866M | ||
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $19.85M | $24.01M | $17.47M |
| YoY Change | 12.46% | 37.48% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | ||
| YoY Change | |||
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | ||
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $19.85M | $24.01M | $17.47M |
| Total Long-Term Liabilities | $0.00 | ||
| Total Liabilities | $19.85M | $24.01M | $17.47M |
| YoY Change | 12.46% | 37.48% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$4.517M | -$3.943M | -$2.019M |
| YoY Change | 119.79% | 95.29% | |
| Common Stock | $41.11K | $41.11K | $40.98K |
| YoY Change | 0.02% | 0.32% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$1.600M | -$1.017M | $638.5K |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $18.25M | $22.99M | $18.10M |
| YoY Change | -1.18% | 27.02% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$573.6K | -$725.1K | -$199.3K |
| YoY Change | 1498.02% | 263.79% | 159.8% |
| Depreciation, Depletion And Amortization | $165.5K | $165.5K | $131.1K |
| YoY Change | 30.63% | 26.24% | -8.14% |
| Cash From Operating Activities | -$628.7K | -$1.078M | |
| YoY Change | -41.68% | -1697.8% | |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $24.02K | ||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | -$24.02K | ||
| YoY Change | 50.58% | ||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | $785.4K | $384.3K | |
| YoY Change | 104.34% | 606.49% | |
| NET CHANGE | |||
| Cash From Operating Activities | -$628.7K | -$1.078M | |
| Cash From Investing Activities | -$24.02K | ||
| Cash From Financing Activities | $785.4K | $384.3K | |
| Net Change In Cash | $155.8K | -$715.1K | |
| YoY Change | -121.78% | -783.57% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$628.7K | -$1.078M | |
| Capital Expenditures | $24.02K | ||
| Free Cash Flow | -$1.102M | ||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q1 | RLEA |
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Increase Decrease In Retainage Payable
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Effective Income Tax Rate Continuing Operations
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|
2686 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
155751 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-715126 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
41687 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1369557 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
197438 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
654431 | usd |
| CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
29224 | usd |
| CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
40215 | usd |
| CY2023Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
6910 | usd |
| CY2023Q1 | RLEA |
Construction In Progress Additions
ConstructionInProgressAdditions
|
993565 | usd |
| CY2019Q3 | us-gaap |
Capital Units
CapitalUnits
|
20000000 | usd |
| CY2024Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p id="xdx_848_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zhkGRKm2mRxg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_868_zLzwZTWWbDD2">Reclassifications</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain amounts on the prior year’s consolidated balance sheets, consolidated statements of operations and cash flows were reclassified to conform to current-year presentation, with no effect on ending stockholders’ equity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
| CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84E_eus-gaap--UseOfEstimates_zwlSsBicby49" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_861_zGwTwKDlGbff">Use of Estimates</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make 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. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. Signiant estimates are used in the collectability of accounts receivable, the useful lives and impairment of property and equipment, the valuation of deferred tax assets, inventories reserve and provisions for income taxes, among others.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | |
| CY2024Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_z9GEhOqPVqdb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_860_zv5H0K8RoiUj">Concentration risk</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash with banks in the United States of America (“USA”) and PRC. Should any bank holding cash become insolvent, or if the Company is otherwise unable to withdraw funds, the Company would lose the cash with that bank; however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. In China, a depositor has up to RMB<span id="xdx_904_eus-gaap--CashFDICInsuredAmount_iI_uRMB_c20240331_zOh2uUiDNHma" title="Cash insured amount">500,000</span> insured by the People’s Bank of China Financial Stability Bureau (“FSD”). In the United States, the standard insurance amount is $<span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_iI_c20240331_zHZmzLT6Lru7" title="Cash insured amount">250,000</span> per depositor in a bank insured by the Federal Deposit Insurance Corporation (“FDIC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to significant concentrations of credit risk are cash and cash equivalents and accounts receivable. As of March 31, 2024 and December 31, 2023, $<span id="xdx_908_eus-gaap--CashUninsuredAmount_iI_c20240331_zTQDKw81qqtc" title="Cash and restricted cash uninsured">69,224</span> and $<span id="xdx_90C_eus-gaap--CashUninsuredAmount_iI_dxL_c20231231_zCaMWFtr0Sm1" title="Cash and restricted cash uninsured::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0502">Nil</span></span> of the Company’s cash held by financial institutions were uninsured, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Major customers</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zt4Ws9yWYHXl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended March 31, 2024 and 2023, the Company’s revenues from two major customers accounted more than 10% of the total revenue were as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BC_zTxw1o83ODN1" style="display: none">Schedule of Concentration Risk Percent</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 2024</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/>March 31, 2024</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/>March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of<br/> Total<br/> Revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts<br/> Receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total<br/> Accounts<br/> Receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of<br/> Total<br/> Revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts<br/> Receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of Total<br/> Accounts<br/> Receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Customer B</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--Revenues_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zKJvkLygElV2" style="width: 6%; text-align: right" title="Revenues">2,954,607</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zqYy6pgg3wlg" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AccountsReceivableNetCurrent_iI_c20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zAm7Lktqkvk9" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">8,437,022</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_dp_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zkcnrKqE1AB1" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--Revenues_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zN5HPHHouUV5" style="width: 6%; text-align: right" title="Revenues">1,448,109</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zDoVa7MF9Ll6" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">62</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AccountsReceivableNetCurrent_iI_c20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_ztCEHeHKOQJh" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">3,344,349</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zQamhxs7zey5" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer A</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--Revenues_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zPZ1vHhQCR29" style="text-align: right" title="Revenues"><span style="-sec-ix-hidden: xdx2ixbrl0522">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zGyQDPhxTQQ4" style="text-align: right" title="Concentrationr risk, percentage"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0524">-</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--AccountsReceivableNetCurrent_iI_c20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zeVxbXyt39Q4" style="text-align: right" title="Concentrationr risk, percentage"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0526">-</span></span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_dp_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zKrIEMOl6C2d" style="text-align: right" title="Concentrationr risk, percentage"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0528">-</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--Revenues_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_z7R2rSRj1ryl" style="text-align: right" title="Revenues">897,432</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zc2nKP2UPv35" style="text-align: right" title="Concentrationr risk, percentage">38</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--AccountsReceivableNetCurrent_iI_c20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zYhn9pIUwVYc" style="text-align: right" title="Accounts receivable"><span style="-sec-ix-hidden: xdx2ixbrl0534">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zGVHyAKXx18g" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0536">-</span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer A: eGT New Energy Automotive Co., Ltd. (“eGT” ), an unrelated party.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer B: Shanghai Xinsen Import & Export Co., Ltd (“Shanghai Xinsen”), a related party that sells RLSP’s products to Shanghai Hongyang Sealing Co., Ltd. (“Shanghai Hongyang”) and Wuhu Huichi Auto Parts Co., Ltd. (“Wuhu Huichi”), two unrelated parties of RLSP and the Company, and certified first-tier suppliers of Auto Manufacturers.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Major vendors</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended March 31, 2024 and 2023, the Company made purchases from the major vendors accounted more than 10% of the total purchases were as following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 202<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/>March 31, 202<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Three months ended March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of <br/>March 31, 2023</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of<br/> Total<br/> Purchase</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts<br/> payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of<br/> Total<br/> Accounts<br/> Payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of<br/> Total<br/> Purchase</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts<br/> payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">% of<br/> Total<br/> Accounts<br/> Payable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left">Vendor A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_z5ATfskFxTI7" style="width: 6%; text-align: right" title="Cost of goods">2,960,164</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zjbPcAwOD3A4" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AccountsPayableCurrent_iI_c20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zsEdeeXJUa56" style="width: 6%; text-align: right" title="Accounts payable">6,118,302</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zjX1A4NxcSrd" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">59</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_ztCfSp90Mr77" style="width: 6%; text-align: right" title="Cost of goods">1,908,106</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zY4v0x8dlrj" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">84</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--AccountsPayableCurrent_iI_c20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zwUd8rWm3N1a" style="width: 6%; text-align: right" title="Accounts payable">1,534,522</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorAMember_zkNLEtcHc5E2" style="width: 6%; text-align: right" title="Concentrationr risk, percentage">23</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vendor B</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--CostOfGoodsAndServicesSold_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zqRwphBJkW58" style="text-align: right" title="Cost of goods"><span style="-sec-ix-hidden: xdx2ixbrl0554">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zXoNQmf8qB74" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0556">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsPayableCurrent_iI_c20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zwGbCl17jUU5" style="text-align: right" title="Accounts payable">4,290,063</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zOIf2ZfLe9Ol" style="text-align: right" title="Concentrationr risk, percentage">41</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zauESvTvQSMf" style="text-align: right" title="Cost of goods"><span style="-sec-ix-hidden: xdx2ixbrl0562">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zIUKMBQgyCk" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0564">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AccountsPayableCurrent_iI_c20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_z4dmNX5zNR89" style="text-align: right" title="Accounts payable">4,983,479</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorBMember_zae2Bf3Th6nl" style="text-align: right" title="Concentrationr risk, percentage">76</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vendor C</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--CostOfGoodsAndServicesSold_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z2hT3q5xZm6d" style="text-align: right" title="Cost of goods"><span style="-sec-ix-hidden: xdx2ixbrl0570">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zDc8uvEKef15" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0572">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--AccountsPayableCurrent_iI_c20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_znU15xizJtn" style="text-align: right" title="Accounts payable"><span style="-sec-ix-hidden: xdx2ixbrl0574">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zP1rpUYiP3g3" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0576">-</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--CostOfGoodsAndServicesSold_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zO9QvNrKQ04g" style="text-align: right" title="Purchase">369,389</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_z0qsy9Fgoo2a" style="text-align: right" title="Concentrationr risk, percentage">16</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsPayableCurrent_iI_c20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zCIPw4RdXDoe" style="text-align: right" title="Accounts payable"><span style="-sec-ix-hidden: xdx2ixbrl0582">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorCMember_zpfAvzQkHr3c" style="text-align: right" title="Concentrationr risk, percentage"><span style="-sec-ix-hidden: xdx2ixbrl0584">-</span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor A: Shanghai Haozong Rubber & Plastic Technology Co., Ltd. (“Shanghai Haozong”), a related party.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor B: Shanghai Huaxin Economic and Trade Co., Ltd. (“Shanghai Huaxin”), a related party, purchase amounts and accounts payable balances include retainage payables.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vendor C: Shanghai Yongliansen Import and Export Trading Company (“Yongliansen”), a related party.</span></td></tr> </table> <p id="xdx_8A3_zFKD16PfiYp1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
| CY2024Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
500000 | |
| CY2024Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
| CY2024Q1 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
69224 | usd |
| CY2024Q1 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
| CY2023 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | usd |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
| CY2023 | RLEA |
Value Added Tax Rate
ValueAddedTaxRate
|
0.13 | pure |
| CY2024Q1 | RLEA |
Value Added Tax Rate
ValueAddedTaxRate
|
0.13 | pure |
| CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | segment |
| CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
| CY2023Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | segment |
| CY2023Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
| CY2024Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
11602 | usd |
| CY2023Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
12761 | usd |
| CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
729166 | usd |
| CY2023Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
747849 | usd |
| CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
740768 | usd |
| CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
760610 | usd |
| CY2024Q1 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
5376884 | usd |
| CY2023Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
5469683 | usd |
| CY2024Q1 | us-gaap |
Buildings And Improvements Gross
BuildingsAndImprovementsGross
|
5363059 | usd |
| CY2023Q4 | us-gaap |
Buildings And Improvements Gross
BuildingsAndImprovementsGross
|
5455619 | usd |
| CY2024Q1 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
4185 | usd |
| CY2023Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
4257 | usd |
| CY2024Q1 | RLEA |
Auto Vehicles Gross
AutoVehiclesGross
|
23244 | usd |
| CY2023Q4 | RLEA |
Auto Vehicles Gross
AutoVehiclesGross
|
23645 | usd |
| CY2024Q1 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
116660 | usd |
| CY2023Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
118673 | usd |
| CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2141078 | usd |
| CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2010404 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8742954 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
9061473 | usd |
| CY2022Q3 | us-gaap |
Cost Direct Labor
CostDirectLabor
|
4931105 | usd |
| CY2022Q3 | us-gaap |
Cost Direct Labor
CostDirectLabor
|
35000000 | |
| CY2024Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
165532 | usd |
| CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
120028 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2102545 | usd |
| CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2138833 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
147005 | usd |
| CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
137720 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1955540 | usd |
| CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2001113 | usd |
| CY2024Q1 | us-gaap |
Nature Of Common Ownership Or Management Control Relationships
NatureOfCommonOwnershipOrManagementControlRelationships
|
Effective on October 1, 2022, Ms. Hua reduced her ownership of Shanghai Xinsen to 15%, and so accordingly reduced her indirect ownership of Hangzhou Xinsen to 10.5%. Xinsen Group is a rubber product trading expert with 20 years of experience in the auto parts market, who charges 1% of the total sales amount before VAT tax as sales commission before September 30, 2022, and subsequently 0.25% effective from October 1, 2022 after the renegotiation between RLSP and Xinsen Group. Sales commission incurred in each period is recorded as part of selling expense of the Company. | |
| CY2024Q1 | RLEA |
Unpaid Registered Capital
UnpaidRegisteredCapital
|
17772925 | usd |
| CY2024Q1 | RLEA |
Unpaid Registered Capital
UnpaidRegisteredCapital
|
126000000 | |
| CY2019Q3 | us-gaap |
Capital Units
CapitalUnits
|
20000000 | usd |
| CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2230915 | usd |
| CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2105915 | usd |
| CY2022Q3 | us-gaap |
Cost Direct Labor
CostDirectLabor
|
4931105 | usd |
| CY2022Q3 | us-gaap |
Cost Direct Labor
CostDirectLabor
|
35000000 | |
| CY2022Q3 | us-gaap |
Payments For Construction In Process
PaymentsForConstructionInProcess
|
6519991 | usd |
| CY2022Q3 | us-gaap |
Payments For Construction In Process
PaymentsForConstructionInProcess
|
46277593 | |
| CY2024Q1 | us-gaap |
Payments For Construction In Process
PaymentsForConstructionInProcess
|
7171990 | usd |
| CY2024Q1 | us-gaap |
Payments For Construction In Process
PaymentsForConstructionInProcess
|
50905352 | |
| CY2024Q1 | us-gaap |
Cost Direct Labor
CostDirectLabor
|
5221922 | usd |
| CY2024Q1 | us-gaap |
Cost Direct Labor
CostDirectLabor
|
37064159 | |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
|
0.25 | pure |
| CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
9055 | usd |
| CY2024Q1 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
189251 | usd |
| CY2023Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
192518 | usd |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
| CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
| CY2024Q1 | RLEA |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Except
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateExcept
|
0.040 | pure |
| CY2023Q1 | RLEA |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Except
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateExcept
|
0.040 | pure |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.25 | pure |
| CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.298 | pure |
| CY2023Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.048 | pure |
| CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | segment |
| CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
