2022 Q4 Form 20-F Financial Statement

#000147793223003017 Filed on May 01, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $26.46M $53.49M $34.63M
YoY Change -23.58% -3.21% 78.56%
Cost Of Revenue $21.51M $43.40M $28.17M
YoY Change -23.66% -3.2% 56.6%
Gross Profit $4.958M $10.09M $6.459M
YoY Change -23.23% -3.25% 360.06%
Gross Profit Margin 18.74% 18.87% 18.65%
Selling, General & Admin $3.618M $5.292M $7.531M
YoY Change -51.96% -51.42% 678.64%
% of Gross Profit 72.97% 52.43% 116.61%
Research & Development -$8.740K $227.8K $1.702M
YoY Change -100.51% -97.17% 189.5%
% of Gross Profit -0.18% 2.26% 26.35%
Depreciation & Amortization $148.5K $344.9K $446.3K
YoY Change -66.72% -62.38% 2.8%
% of Gross Profit 2.99% 3.42% 6.91%
Operating Expenses $3.610M $5.520M $9.233M
YoY Change -60.91% -70.87% 493.76%
Operating Profit $1.349M $4.573M -$2.774M
YoY Change -148.61% -153.7% 1735.56%
Interest Expense $921.4K $602.0K -$542.5K
YoY Change -269.86% -196.69% 552.53%
% of Operating Profit 68.32% 13.17%
Other Income/Expense, Net $48.63K $1.155M $212.1K
YoY Change -77.08% 252.12% -472.24%
Pretax Income $2.319M $5.728M -$2.559M
YoY Change -190.62% -169.32% -79.18%
Income Tax $1.605M $3.142M $1.382M
% Of Pretax Income 69.21% 54.85%
Net Earnings $921.6K $2.586M -$1.788M
YoY Change -151.55% -130.94% -76.92%
Net Earnings / Revenue 3.48% 4.83% -5.16%
Basic Earnings Per Share $3.03
Diluted Earnings Per Share $0.75 $3.00 -$391.0K
COMMON SHARES
Basic Shares Outstanding 1.218M shares 996.9K shares
Diluted Shares Outstanding 1.006M shares

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.98M $18.98M $43.14M
YoY Change -56.02% -56.02% 16.23%
Cash & Equivalents $18.98M $18.98M $43.14M
Short-Term Investments
Other Short-Term Assets $2.843M $2.843M $6.277M
YoY Change -54.71% -54.71% -35.29%
Inventory $898.7K $898.7K $1.070M
Prepaid Expenses
Receivables $40.17M $40.17M $44.96M
Other Receivables $43.86M $43.86M $10.35M
Total Short-Term Assets $106.8M $106.8M $105.8M
YoY Change 0.9% 0.9% 29.19%
LONG-TERM ASSETS
Property, Plant & Equipment $1.656M $3.074M $2.417M
YoY Change -31.47% 27.16% -2.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $24.12M $24.12M $26.10M
YoY Change -7.58% -7.58% 2.35%
Other Assets $290.6K $290.6K $314.5K
YoY Change -7.58% -7.58%
Total Long-Term Assets $27.38M $27.38M $28.72M
YoY Change -4.68% -4.68% -16.5%
TOTAL ASSETS
Total Short-Term Assets $106.8M $106.8M $105.8M
Total Long-Term Assets $27.38M $27.38M $28.72M
Total Assets $134.1M $134.1M $134.5M
YoY Change -0.29% -0.29% 15.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.119M $5.616M $1.564M
YoY Change 35.49% 259.14% 1.28%
Accrued Expenses $161.5K $161.5K $115.3K
YoY Change 40.02% 40.02%
Deferred Revenue
YoY Change
Short-Term Debt $3.637M $3.637M $11.72M
YoY Change -68.98% -68.98% 53.74%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.54M $13.54M $21.77M
YoY Change -37.79% -37.79% 29.54%
LONG-TERM LIABILITIES
Long-Term Debt $3.396M $3.396M $0.00
YoY Change
Other Long-Term Liabilities $1.260M $1.260M $223.3K
YoY Change 464.27% 464.27%
Total Long-Term Liabilities $4.656M $4.656M $223.3K
YoY Change 1985.1% 1985.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.54M $13.54M $21.77M
Total Long-Term Liabilities $4.656M $4.656M $223.3K
Total Liabilities $18.20M $16.05M $20.27M
YoY Change -10.21% -20.81% 16.18%
SHAREHOLDERS EQUITY
Retained Earnings $39.09M $36.68M
YoY Change 6.56%
Common Stock $79.75M $69.63M
YoY Change 14.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $118.1M $118.1M $114.3M
YoY Change
Total Liabilities & Shareholders Equity $134.1M $134.1M $134.5M
YoY Change -0.29% -0.29% 15.68%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income $921.6K $2.586M -$1.788M
YoY Change -151.55% -130.94% -76.92%
Depreciation, Depletion And Amortization $148.5K $344.9K $446.3K
YoY Change -66.72% -62.38% 2.8%
Cash From Operating Activities $55.84M $8.293M -$6.434M
YoY Change -967.83% -202.5% -154.85%
INVESTING ACTIVITIES
Capital Expenditures $60.09K $79.27K -$219.4K
YoY Change -127.38% -135.31% 62.2%
Acquisitions
YoY Change
Other Investing Activities -$44.92M -$44.92M $748.6K
YoY Change -6100.11% -6100.11% 191851.28%
Cash From Investing Activities -$44.98M -$45.00M $529.2K
YoY Change -8599.64% -8686.36% -492.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.12M $12.42M
YoY Change -47.73% 37.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -666.6K $15.29M 8.091M
YoY Change -108.24% 19.42% -3.89%
NET CHANGE
Cash From Operating Activities 55.84M $8.293M -6.434M
Cash From Investing Activities -44.98M -$45.00M 529.2K
Cash From Financing Activities -666.6K $15.29M 8.091M
Net Change In Cash 10.20M -$24.59M 2.186M
YoY Change 366.42% -569.27% -89.08%
FREE CASH FLOW
Cash From Operating Activities $55.84M $8.293M -$6.434M
Capital Expenditures $60.09K $79.27K -$219.4K
Free Cash Flow $55.78M $8.214M -$6.215M
YoY Change -997.51% -204.42% -152.37%

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CY2020 us-gaap Profit Loss
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CY2022 us-gaap Comprehensive Income Net Of Tax
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CY2021 us-gaap Comprehensive Income Net Of Tax
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CY2020 us-gaap Comprehensive Income Net Of Tax
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 tanh Issuance Of Common Stock For Private Placement Amount
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CY2020 tanh Stock Issued During Period Value Warrants Exercised
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CY2020 us-gaap Stock Issued During Period Value Issued For Services
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CY2020 tanh Appropriation Of Retained Earnings To Statutory Reserve Fund
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CY2020 us-gaap Profit Loss
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CY2021 us-gaap Profit Loss
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CY2022 tanh Issuance Of Common Stock For Private Placement Amount
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CY2022 tanh Cancellation Of Common Stock Due To Reverse Split Amount
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CY2022 tanh Appropriation Of Retained Earnings To Statutory Reserve Fund
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CY2022 us-gaap Profit Loss
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CY2022 us-gaap Profit Loss
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CY2021 us-gaap Profit Loss
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CY2020 us-gaap Profit Loss
ProfitLoss
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CY2022 tanh Allowance For Reversal Of Doubtful Accounts Advance To Suppliers
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CY2021 tanh Allowance For Reversal Of Doubtful Accounts Advance To Suppliers
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CY2020 tanh Allowance For Reversal Of Doubtful Accounts Advance To Suppliers
AllowanceForReversalOfDoubtfulAccountsAdvanceToSuppliers
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CY2022 tanh Write Off Manufacturing Rebate Receivable
WriteOffManufacturingRebateReceivable
0 usd
CY2021 tanh Write Off Manufacturing Rebate Receivable
WriteOffManufacturingRebateReceivable
5819059 usd
CY2020 tanh Write Off Manufacturing Rebate Receivable
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CY2022 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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CY2022 us-gaap Share Based Compensation
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CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022 tanh Inventory Reserve
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CY2020 tanh Inventory Reserve
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CY2020 us-gaap Goodwill And Intangible Asset Impairment
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CY2022 tanh Increase Decrease In Deferred Tax Liability
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0 usd
CY2021 tanh Increase Decrease In Deferred Tax Liability
IncreaseDecreaseInDeferredTaxLiability
0 usd
CY2020 tanh Increase Decrease In Deferred Tax Liability
IncreaseDecreaseInDeferredTaxLiability
-1799791 usd
CY2022 us-gaap Depreciation
Depreciation
344852 usd
CY2021 us-gaap Depreciation
Depreciation
444462 usd
CY2020 us-gaap Depreciation
Depreciation
436427 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
44964 usd
CY2020 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2022 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
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CY2021 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
0 usd
CY2020 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
33812 usd
CY2022 tanh Contingent Liability
ContingentLiability
0 usd
CY2021 tanh Contingent Liability
ContingentLiability
535389 usd
CY2020 tanh Contingent Liability
ContingentLiability
0 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-673738 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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IncreaseDecreaseInAccountsReceivable
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CY2022 us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
-1885042 usd
CY2021 us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
-3694066 usd
CY2020 us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
-7093022 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties
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CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
296077 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
768288 usd
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2022 tanh Increase Decrease In Manufacturing Rebate Receivable
IncreaseDecreaseInManufacturingRebateReceivable
0 usd
CY2021 tanh Increase Decrease In Manufacturing Rebate Receivable
IncreaseDecreaseInManufacturingRebateReceivable
0 usd
CY2020 tanh Increase Decrease In Manufacturing Rebate Receivable
IncreaseDecreaseInManufacturingRebateReceivable
-2374720 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
671669 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2020 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
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CY2022 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-1518851 usd
CY2021 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
318875 usd
CY2020 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-3792409 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-366772 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-19824 usd
CY2020 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
0 usd
CY2022 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
1520519 usd
CY2021 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
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CY2020 us-gaap Increase Decrease In Accrued Taxes Payable
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PaymentsToAcquirePropertyPlantAndEquipment
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ProceedsFromSaleOfPropertyPlantAndEquipment
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ProceedsFromSaleOfPropertyPlantAndEquipment
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PaymentsToAcquireIntangibleAssets
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PaymentsToAcquireIntangibleAssets
4220 usd
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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CY2022 us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
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CY2022 us-gaap Proceeds From Repayments Of Debt
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CY2022 tanh Proceeds From Repayment Of Short Term Debt
ProceedsFromRepaymentOfShortTermDebt
-3151786 usd
CY2021 tanh Proceeds From Repayment Of Short Term Debt
ProceedsFromRepaymentOfShortTermDebt
-310000 usd
CY2020 tanh Proceeds From Repayment Of Short Term Debt
ProceedsFromRepaymentOfShortTermDebt
0 usd
CY2022 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 usd
CY2021 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-1772550 usd
CY2020 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
1448667 usd
CY2022 tanh Cancellation Of Common Stock Due To Reverse Split
CancellationOfCommonStockDueToReverseSplit
4573 usd
CY2021 tanh Cancellation Of Common Stock Due To Reverse Split
CancellationOfCommonStockDueToReverseSplit
0 usd
CY2020 tanh Cancellation Of Common Stock Due To Reverse Split
CancellationOfCommonStockDueToReverseSplit
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CY2021 us-gaap Proceeds From Bank Debt
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CY2020 us-gaap Proceeds From Bank Debt
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CY2022 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
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CY2021 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
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CY2020 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
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ProceedsFromRepaymentsOfRelatedPartyDebt
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CY2020 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
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ProceedsFromIssuanceOfCommonStock
10120400 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19362706 usd
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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15292303 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-24585370 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6227577 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24693327 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43566881 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37339304 usd
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12645977 usd
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18981511 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43566881 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37339304 usd
CY2022 us-gaap Income Taxes Paid
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2590282 usd
CY2021 us-gaap Income Taxes Paid
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2278134 usd
CY2020 us-gaap Income Taxes Paid
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CY2022 us-gaap Interest Paid
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CY2021 us-gaap Interest Paid
InterestPaid
265248 usd
CY2020 us-gaap Interest Paid
InterestPaid
308690 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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422832 usd
CY2021Q4 tanh Loan Payable To Third Parties
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CY2022 tanh Warranty Period
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CY2022Q4 us-gaap Accounts Receivable Net
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CY2021Q4 us-gaap Accounts Receivable Net
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CY2022Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.1450 pure
CY2021Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.1569 pure
CY2020Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.1533 pure
CY2022Q4 tanh Foreign Currency Average Exchange Rate Translation
ForeignCurrencyAverageExchangeRateTranslation
0.1486 pure
CY2021Q4 tanh Foreign Currency Average Exchange Rate Translation
ForeignCurrencyAverageExchangeRateTranslation
0.1550 pure
CY2020Q4 tanh Foreign Currency Average Exchange Rate Translation
ForeignCurrencyAverageExchangeRateTranslation
0.1448 pure
CY2021 tanh Value Added Tax Description
ValueAddedTaxDescription
The Company is subject to VAT for selling merchandise. The applicable VAT rate is 11% or 13% or 17% (depending on the type of goods involved) for products sold in the PRC. The applicable VAT rate of 17% and 11% decreased to 16% and 10% starting from May 2018, and further decreased to 13% and 9% from April 1, 2019
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
44331093 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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4156761 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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-53436 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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15631 usd
CY2022 tanh Allowance For Doubtful Accounts Translation Adjustments
AllowanceForDoubtfulAccountsTranslationAdjustments
-299869 usd
CY2021 tanh Allowance For Doubtful Accounts Translation Adjustments
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