2023 Q3 Form 10-K Financial Statement

#000149315223034631 Filed on September 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue -$1.220M
YoY Change -692.15%
Cost Of Revenue $1.547M -$980.0K $424.3K
YoY Change 146.88% 311.4% -88.83%
Gross Profit $98.96K -$240.0K $126.2K
YoY Change -208.89% -154.02% -107.83%
Gross Profit Margin
Selling, General & Admin $3.307M $1.960M $8.748M
YoY Change 74.11% -73.87% -56.82%
% of Gross Profit 3342.22% 6932.66%
Research & Development $23.70K $77.00K $135.8K
YoY Change
% of Gross Profit 23.95% 107.66%
Depreciation & Amortization $1.045M $150.0K $663.2K
YoY Change 3164.31% -150.18% 19.62%
% of Gross Profit 1055.68% 525.55%
Operating Expenses $3.331M $2.040M $8.884M
YoY Change 75.36% -72.8% -58.49%
Operating Profit -$3.232M -$2.280M -$8.758M
YoY Change 62.38% -67.69% -61.94%
Interest Expense -$366.4K -$360.0K -$930.0K
YoY Change 17.36% -27.61% 120.94%
% of Operating Profit
Other Income/Expense, Net -$532.4K -$350.0K -$2.148M
YoY Change 17.82% 93.82% 12.18%
Pretax Income -$3.764M -$3.050M -$10.91M
YoY Change 54.14% -61.97% -56.25%
Income Tax -$251.4K -$160.0K -$194.6K
% Of Pretax Income
Net Earnings $5.366M -$5.490M -$13.36M
YoY Change -319.95% -21.84% -50.57%
Net Earnings / Revenue
Basic Earnings Per Share $0.17 -$0.71
Diluted Earnings Per Share $0.17 -$0.25 -$0.71
COMMON SHARES
Basic Shares Outstanding 43.84M shares 21.09M shares 18.63M shares
Diluted Shares Outstanding 31.60M shares 18.63M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $875.0K $630.0K $630.0K
YoY Change -96.39% -95.85% -95.85%
Cash & Equivalents $875.0K $600.0K
Short-Term Investments
Other Short-Term Assets $1.126M $2.827M $39.94M
YoY Change -65.42% -83.59% 131.74%
Inventory $2.118M $324.4K $320.0K
Prepaid Expenses $2.057K $1.629K
Receivables $8.364M $34.59K $30.00K
Other Receivables $1.933M $2.630M $0.00
Total Short-Term Assets $16.02M $40.92M $40.92M
YoY Change -70.22% -31.49% -31.5%
LONG-TERM ASSETS
Property, Plant & Equipment $6.415M $1.213M $1.350M
YoY Change 406.94% -11.8% -61.02%
Goodwill $28.02M $6.575M
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $0.00 $2.580M $2.580M
YoY Change -100.0% 26972.4% 26972.4%
Total Long-Term Assets $81.83M $22.55M $22.55M
YoY Change 2151.7% 451.15% 451.27%
TOTAL ASSETS
Total Short-Term Assets $16.02M $40.92M $40.92M
Total Long-Term Assets $81.83M $22.55M $22.55M
Total Assets $97.85M $63.47M $63.47M
YoY Change 70.41% -0.56% -0.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.716M $191.1K $190.0K
YoY Change 117678.31% 12256.04% 12158.06%
Accrued Expenses $99.25K $90.00K $90.00K
YoY Change -83.08% -90.62% -90.62%
Deferred Revenue $89.49K
YoY Change
Short-Term Debt $13.40M $1.240M $16.37M
YoY Change -6.18% -91.4% 13.55%
Long-Term Debt Due $2.000M $931.1K
YoY Change
Total Short-Term Liabilities $35.10M $23.35M $23.35M
YoY Change 72.31% -19.61% -19.59%
LONG-TERM LIABILITIES
Long-Term Debt $1.083M $1.083M $0.00
YoY Change
Other Long-Term Liabilities $435.1K $1.850M $1.850M
YoY Change -67.04% 25.61% 25.61%
Total Long-Term Liabilities $1.518M $1.083M $1.850M
YoY Change 15.0% -26.47% 25.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.10M $23.35M $23.35M
Total Long-Term Liabilities $1.518M $1.083M $1.850M
Total Liabilities $46.98M $26.62M $30.91M
YoY Change 116.59% -12.77% 2.64%
SHAREHOLDERS EQUITY
Retained Earnings -$26.37M -$31.74M
YoY Change 26.7% 72.74%
Common Stock $49.24K $26.39K
YoY Change 200.27% 140.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.42M $32.56M $32.56M
YoY Change
Total Liabilities & Shareholders Equity $97.85M $63.47M $63.47M
YoY Change 70.41% -0.56% -0.56%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income $5.366M -$5.490M -$13.36M
YoY Change -319.95% -21.84% -50.57%
Depreciation, Depletion And Amortization $1.045M $150.0K $663.2K
YoY Change 3164.31% -150.18% 19.62%
Cash From Operating Activities -$1.503M -$2.540M -$5.391M
YoY Change -28.73% -343.55% -5.64%
INVESTING ACTIVITIES
Capital Expenditures $4.106K $18.85K
YoY Change -93.91%
Acquisitions $112.1K $112.1K
YoY Change 0.0% 0.0%
Other Investing Activities -$12.90M $0.00 $1.030M
YoY Change -216.37% -100.0% -102.86%
Cash From Investing Activities -$12.90M $20.00K $1.033M
YoY Change -216.37% -100.57% -102.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.844M
YoY Change -49.96%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $906.1K 2.060M $4.481M
YoY Change -1.62% -35.27% -84.23%
NET CHANGE
Cash From Operating Activities -$1.503M -2.540M -$5.391M
Cash From Investing Activities -$12.90M 20.00K $1.033M
Cash From Financing Activities $906.1K 2.060M $4.481M
Net Change In Cash -$13.29M -460.0K -$998.5K
YoY Change -246.5% -163.05% -92.8%
FREE CASH FLOW
Cash From Operating Activities -$1.503M -$2.540M -$5.391M
Capital Expenditures $4.106K $18.85K
Free Cash Flow -$1.507M -$5.409M
YoY Change -28.54% -10.17%

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CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
650000 usd
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1200000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
600000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_znAifO4e0Sp8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zkjAVGaBge0j">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with U.S. GAAP 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 consolidated financial statements as well as the reported amounts of revenue and expenses during the reporting periods. Significant estimates required to be made by management include, but are not limited to, useful lives of property and equipment, and intangible assets, the recoverability of long-lived assets, and the valuation of accounts receivable, advances to suppliers, deferred taxes, and inventory reserves. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.28 pure
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
744766 usd
CY2023 SISI Transition Tax Payments Description
TransitionTaxPaymentsDescription
The Company elects to pay the transition tax over an eight-year period using specified percentages (eight percent per year for the first five years, 15 percent in year six, 20 percent in year seven, and 25 percent in year eight)
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-10126904 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-7593058 usd
CY2023 SISI Value Added Tax Rate Description
ValueAddedTaxRateDescription
All of the Company’s products that were sold in the PRC were subject to a Chinese value-added tax at rates ranging from 3% to 13%, depending on the type of products sold
CY2023Q2 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.1378 pure
CY2022Q2 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.1493 pure
CY2023 SISI Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
0.1438 pure
CY2022 SISI Average Foreign Currency Exchange Rate Translation
AverageForeignCurrencyExchangeRateTranslation
0.1549 pure
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
135849 usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-3236495 usd
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-19440036 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-13363399 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-27033094 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18634212 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18634212 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9458077 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9458077 shares
CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.54
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.54
CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.80
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.80
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.17
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-0.17
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-2.06
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-2.06
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.71
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.71
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.86
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.86
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84F_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zIhSns03wZBg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_866_zvtANb27Uphk">Reclassifications</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year balances were reclassified to conform to the current year’s presentation with consideration of reflecting the Company’s Tenet-Jove Disposal Group as discontinued operations. None of these reclassifications had an impact on reported financial position or cash flows for any of the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2023Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
10467260 usd
CY2022Q2 us-gaap Accounts Receivable Gross
AccountsReceivableGross
9138790 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
8153850 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7317236 usd
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
2313410 usd
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
1821554 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
2278824 usd
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
1821554 usd
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
34586 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7317236 usd
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9635506 usd
CY2023 SISI Allowance For Doubtful Accounts Receivable Period Acquisition
AllowanceForDoubtfulAccountsReceivablePeriodAcquisition
451863 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1050753 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1632670 usd
CY2022 SISI Disposal Of Variable Interest Entities
DisposalOfVariableInterestEntities
-3677073 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
62125 usd
CY2023 SISI Accounts Receivable Foreign Currency Translation Adjustments
AccountsReceivableForeignCurrencyTranslationAdjustments
-603877 usd
CY2022 SISI Accounts Receivable Foreign Currency Translation Adjustments
AccountsReceivableForeignCurrencyTranslationAdjustments
-273867 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
8153850 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7317236 usd
CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
315129 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
67467 usd
CY2023Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
16713913 usd
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
18709325 usd
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1179243 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1191275 usd
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1163304 usd
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1249543 usd
CY2023Q2 SISI Inventory Net Including Discontinued Operation
InventoryNetIncludingDiscontinuedOperation
17044981 usd
CY2022Q2 SISI Inventory Net Including Discontinued Operation
InventoryNetIncludingDiscontinuedOperation
18718524 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Inventory1
DisposalGroupIncludingDiscontinuedOperationInventory1
16720575 usd
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Inventory1
DisposalGroupIncludingDiscontinuedOperationInventory1
18718524 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
324406 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
803186 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
1574241 usd
CY2023Q2 SISI Gross Advances On Inventory Purchases
GrossAdvancesOnInventoryPurchases
10170145 usd
CY2022Q2 SISI Gross Advances On Inventory Purchases
GrossAdvancesOnInventoryPurchases
13548178 usd
CY2023Q2 SISI Advances To Suppliers Doubtful Accounts
AdvancesToSuppliersDoubtfulAccounts
10167448 usd
CY2022Q2 SISI Advances To Suppliers Doubtful Accounts
AdvancesToSuppliersDoubtfulAccounts
13544627 usd
CY2023Q2 SISI Advances On Inventory Purchases Including Discontnuing Operaton
AdvancesOnInventoryPurchasesIncludingDiscontnuingOperaton
2697 usd
CY2022Q2 SISI Advances On Inventory Purchases Including Discontnuing Operaton
AdvancesOnInventoryPurchasesIncludingDiscontnuingOperaton
3551 usd
CY2022Q2 SISI Advance To Supplier Net Held For Discontinued Operations
AdvanceToSupplierNetHeldForDiscontinuedOperations
-3551 usd
CY2023Q2 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
2697 usd
CY2022Q2 SISI Advances To Suppliers Doubtful Accounts
AdvancesToSuppliersDoubtfulAccounts
13544627 usd
CY2021Q2 SISI Advances To Suppliers Doubtful Accounts
AdvancesToSuppliersDoubtfulAccounts
10885264 usd
CY2023 SISI Advance To Suppliers Acquisition
AdvanceToSuppliersAcquisition
56831 usd
CY2023 SISI Advances To Suppliers Charge To Expense
AdvancesToSuppliersChargeToExpense
-2349716 usd
CY2022 SISI Advances To Suppliers Charge To Expense
AdvancesToSuppliersChargeToExpense
4938064 usd
CY2022 SISI Advances From Suppliers Disposal Of Variable Interest Entities
AdvancesFromSuppliersDisposalOfVariableInterestEntities
-1774400 usd
CY2023 SISI Allowance For Doubtful Accounts On Advances To Supplier Write Off
AllowanceForDoubtfulAccountsOnAdvancesToSupplierWriteOff
-147172 usd
CY2023 SISI Advances To Suppliers Foreign Currency Translation Adjustments
AdvancesToSuppliersForeignCurrencyTranslationAdjustments
-937122 usd
CY2022 SISI Advances To Suppliers Foreign Currency Translation Adjustments
AdvancesToSuppliersForeignCurrencyTranslationAdjustments
-504301 usd
CY2023Q2 SISI Advances To Suppliers Doubtful Accounts
AdvancesToSuppliersDoubtfulAccounts
10167448 usd
CY2022Q2 SISI Advances To Suppliers Doubtful Accounts
AdvancesToSuppliersDoubtfulAccounts
13544627 usd
CY2023Q2 SISI Loan To Third Parties
LoanToThirdParties
1481101 usd
CY2022Q2 SISI Loan To Third Parties
LoanToThirdParties
16345717 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2629733 usd
CY2022Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3246293 usd
CY2023Q2 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
2000000 usd
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
37015 usd
CY2022Q2 us-gaap Short Term Investments
ShortTermInvestments
164261 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1629 usd
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
20872 usd
CY2023Q2 SISI Other Current Assets Gross
OtherCurrentAssetsGross
6149478 usd
CY2022Q2 SISI Other Current Assets Gross
OtherCurrentAssetsGross
19777143 usd
CY2023Q2 SISI Advances To Third Parties Doubtful Accounts
AdvancesToThirdPartiesDoubtfulAccounts
3287793 usd
CY2022Q2 SISI Advances To Third Parties Doubtful Accounts
AdvancesToThirdPartiesDoubtfulAccounts
2545565 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
2861685 usd
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
17231578 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
34643 usd
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Other Assets
DisposalGroupIncludingDiscontinuedOperationOtherAssets
1420637 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
2827042 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
15810941 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1481101 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
384915 usd
CY2022Q2 SISI Advances To Third Parties Doubtful Accounts
AdvancesToThirdPartiesDoubtfulAccounts
2545565 usd
CY2021Q2 SISI Advances To Third Parties Doubtful Accounts
AdvancesToThirdPartiesDoubtfulAccounts
995760 usd
CY2023 SISI Acquisition Of Biowin
AcquisitionOfBiowin
14504 usd
CY2023 SISI Advances To Third Parties Charge To Expense
AdvancesToThirdPartiesChargeToExpense
1867474 usd
CY2022 SISI Advances To Third Parties Charge To Expense
AdvancesToThirdPartiesChargeToExpense
2117316 usd
CY2022 SISI Disposal Of Variable Interest Entities For Doubtful Debts
DisposalOfVariableInterestEntitiesForDoubtfulDebts
-326491 usd
CY2023 SISI Advances To Third Parties Doubtful Accounts Wtiteoff Value
AdvancesToThirdPartiesDoubtfulAccountsWtiteoffValue
-964509 usd
CY2023 SISI Advances To Third Parties Foreign Currency Translation Adjustments
AdvancesToThirdPartiesForeignCurrencyTranslationAdjustments
-175241 usd
CY2022 SISI Advances To Third Parties Foreign Currency Translation Adjustments
AdvancesToThirdPartiesForeignCurrencyTranslationAdjustments
-241020 usd
CY2023Q2 SISI Advances To Third Parties Doubtful Accounts
AdvancesToThirdPartiesDoubtfulAccounts
3287793 usd
CY2022Q2 SISI Advances To Third Parties Doubtful Accounts
AdvancesToThirdPartiesDoubtfulAccounts
2545565 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5432519 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5478914 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3437327 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3388640 usd
CY2023Q2 SISI Impairment For Property And Equipment
ImpairmentForPropertyAndEquipment
-749299 usd
CY2022Q2 SISI Impairment For Property And Equipment
ImpairmentForPropertyAndEquipment
-714802 usd
CY2023Q2 SISI Property Plant And Equipment Net Including Discontinued Operations
PropertyPlantAndEquipmentNetIncludingDiscontinuedOperations
1245893 usd
CY2022Q2 SISI Property Plant And Equipment Net Including Discontinued Operations
PropertyPlantAndEquipmentNetIncludingDiscontinuedOperations
1375472 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
32777 usd
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
1373820 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1213116 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1652 usd
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
2898328 usd
CY2022Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
3139729 usd
CY2023Q2 SISI Accumulated Amortization For Farmland Leasehold
AccumulatedAmortizationForFarmlandLeasehold
2238484 usd
CY2022Q2 SISI Accumulated Amortization For Farmland Leasehold
AccumulatedAmortizationForFarmlandLeasehold
2424927 usd
CY2023Q2 SISI Impairment For Farmland Leasehold Improvements
ImpairmentForFarmlandLeaseholdImprovements
659844 usd
CY2022Q2 SISI Impairment For Farmland Leasehold Improvements
ImpairmentForFarmlandLeaseholdImprovements
714802 usd
CY2022Q2 us-gaap Long Term Investments
LongTermInvestments
617446 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
224522 usd
CY2023Q2 SISI Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Right Of Use Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAssets
1127130 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
166107 usd
CY2023Q2 SISI Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets And Other Payables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsAndOtherPayables
-2503607 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
132366 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
86978 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
44469 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
131447 usd
CY2023 SISI Schedule Of Weighted Average Remaining Lease Terms And Discount Rate Of Operating Lease
ScheduleOfWeightedAverageRemainingLeaseTermsAndDiscountRateOfOperatingLease
<p id="xdx_895_ecustom--ScheduleOfWeightedAverageRemainingLeaseTermsAndDiscountRateOfOperatingLease_gL3SOWARLTADR-DNY_zfxwkiQyPjRa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted average remaining lease terms and discount rates for all of operating leases held for continuing operations were as follows as of June 30, 2023 and 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zh44Gb3ArHje" style="display: none">SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES FOR OPERATING LEASES</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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining lease term and discount rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Weighted average remaining lease term (years)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right"><span id="xdx_90A_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20230630_zpt6JYVYLVD2" title="Weighted average remaining lease term (years)">1.92</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average discount rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20230630_zOqeyESKy36f" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average discount rate">4.61</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20220630_zSaJoZUB4VNl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average discount rate"><span style="-sec-ix-hidden: xdx2ixbrl1434">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted average remaining lease terms and discount rates for all of operating leases held for discontinued operations were as follows as of June 30, 2023 and 2022:</span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_306_134_zJnhbzXnr42" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES FOR OPERATING LEASES (Details)"> <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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining lease term and discount rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Weighted average remaining lease term (years)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20230630__us-gaap--DisposalGroupClassificationAxis__custom--DiscontinuedOperationsMember_zXNtzOvpXMw1" title="Weighted average remaining lease term (years)">5.85</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20220630__us-gaap--DisposalGroupClassificationAxis__custom--DiscontinuedOperationsMember_zgYEhUEfia5a" title="Weighted average remaining lease term (years)">6.88</span></td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average discount rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20230630__us-gaap--DisposalGroupClassificationAxis__custom--DiscontinuedOperationsMember_z6lfmXubQhDi" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average discount rate">4.36</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20220630__us-gaap--DisposalGroupClassificationAxis__custom--DiscontinuedOperationsMember_zm5a93Uwl4vl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average discount rate">5.30</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>  
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CY2023Q2 SISI Intangible Assets Net Held For Continuing Operations
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0.0445 pure
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0.25 pure
CY2023 SISI Reduced Income Tax Description
ReducedIncomeTaxDescription
Biowin is subject to corporate income tax at a reduced rate of 15% starting from December 2019, when it was approved by local government as a High and New Technology Enterprises (“HNTEs”), to December 2022. In December 2022, the Company successfully renewed its HNTE certification with local government and will continue to enjoy the reduced income tax rate of 15% for another three years through December 2025
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company elects to pay the transition tax over an eight-year period using specified percentages (eight percent per year for the first five years, 15 percent in year six, 20 percent in year seven, and 25 percent in year eight)
CY2022 SISI Current Year Addition Valuation Allowance
CurrentYearAdditionValuationAllowance
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CY2023 SISI Current Year Addition Valuation Allowance
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CY2023Q2 SISI Valuation Allowance Held For Discontinued Operations
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CY2022Q2 SISI Valuation Allowance Held For Discontinued Operations
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CY2023Q2 SISI Valuation Allowance Held For Continuing Operations
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CY2023 SISI Description Of Applicable Value Added Tax Rate
DescriptionOfApplicableValueAddedTaxRate
All of the Company’s products that were sold in the PRC were subject to a Chinese value-added tax at rates ranging from 3% to 13%, depending on the type of products sold. For overseas sales, VAT is exempted on the exported goods. The amount of VAT liability is determined by applying the applicable tax rate to the invoiced amount of goods sold (output VAT) less VAT paid on purchases made with the relevant supporting invoices (input VAT). Under commercial practice in the PRC, the Company pays VAT based on tax invoices issued
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CY2023Q2 SISI Tax Payable Continuing Operations
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CY2022Q2 SISI Tax Payable Continuing Operations
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0.10 pure
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