2022 Q4 Form 20-F Financial Statement

#000121390023038650 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021 Q4
Revenue $6.856M $14.15M $7.681M
YoY Change -10.74% -13.16% -19.38%
Cost Of Revenue $5.558M $7.795M $3.710M
YoY Change 49.8% 13.66% 13.23%
Gross Profit $1.298M $6.357M $3.971M
YoY Change -67.31% -32.65% -36.47%
Gross Profit Margin 18.93% 44.92% 51.7%
Selling, General & Admin $4.537M $8.900M $4.808M
YoY Change -5.64% -1.12% 48.89%
% of Gross Profit 349.54% 140.0% 121.09%
Research & Development $258.2K $411.5K $342.8K
YoY Change -24.67% -45.77% -16.88%
% of Gross Profit 19.9% 6.47% 8.63%
Depreciation & Amortization $254.9K $241.8K $198.6K
YoY Change 28.38% -29.21% -1.85%
% of Gross Profit 19.64% 3.8% 5.0%
Operating Expenses $4.795M $9.311M $5.151M
YoY Change -6.91% -4.59% 41.44%
Operating Profit -$3.497M -$2.954M -$1.180M
YoY Change 196.35% 821.14% -145.23%
Interest Expense $59.10K $142.0K $110.2K
YoY Change -46.37% -19.31% 60.6%
% of Operating Profit
Other Income/Expense, Net $509.8K $262.4K -$85.04K
YoY Change -699.45% 671.89% -128.19%
Pretax Income -$2.928M -$2.550M -$1.155M
YoY Change 153.55% 2202.49% -138.76%
Income Tax -$12.38K $272.3K -$392.0K
% Of Pretax Income
Net Earnings -$3.034M -$2.822M -$762.9K
YoY Change 297.76% -1282.52% -125.12%
Net Earnings / Revenue -44.26% -19.94% -9.93%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.12 -$0.11 -$30.58K
COMMON SHARES
Basic Shares Outstanding 26.00M shares
Diluted Shares Outstanding 26.00M shares

Balance Sheet

Concept 2022 Q4 2022 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.04M $12.04M $14.21M
YoY Change -15.29% -15.29% -16.92%
Cash & Equivalents $11.52M $11.52M $13.91M
Short-Term Investments $518.4K $518.4K $296.2K
Other Short-Term Assets $493.0K $1.343M $770.7K
YoY Change -36.03% 74.21% -64.45%
Inventory $189.1K $189.1K
Prepaid Expenses $1.028M $395.0K
Receivables $6.773M $6.773M $9.219M
Other Receivables $2.066M $2.361M $3.053M
Total Short-Term Assets $22.70M $22.70M $27.25M
YoY Change -16.69% -16.69% -7.91%
LONG-TERM ASSETS
Property, Plant & Equipment $3.891M $5.558M $4.129M
YoY Change -5.76% 34.61% 100.15%
Goodwill $5.768M
YoY Change
Intangibles $912.1K $30.26K
YoY Change 2914.16%
Long-Term Investments $1.264M $1.264M $2.143M
YoY Change -41.03% -41.03% 70.27%
Other Assets $2.104M $2.104M $2.358M
YoY Change -10.76% -10.76% 57.57%
Total Long-Term Assets $15.91M $15.91M $9.014M
YoY Change 76.51% 76.51% 72.65%
TOTAL ASSETS
Total Short-Term Assets $22.70M $22.70M $27.25M
Total Long-Term Assets $15.91M $15.91M $9.014M
Total Assets $38.61M $38.61M $36.27M
YoY Change 6.47% 6.47% 4.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.8K $140.8K $38.93K
YoY Change 261.76% 261.75% -90.47%
Accrued Expenses $1.336M $1.157M $1.064M
YoY Change 25.61% 8.78% 1.93%
Deferred Revenue $395.3K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.165M $4.165M $3.588M
YoY Change 16.07% 16.07% 20.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.222M $1.222M $112.6K
YoY Change 985.22% 985.22%
Total Long-Term Liabilities $1.222M $1.222M $112.6K
YoY Change 985.22% 985.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.165M $4.165M $3.588M
Total Long-Term Liabilities $1.222M $1.222M $112.6K
Total Liabilities $5.595M $8.686M $3.701M
YoY Change 51.18% 134.7% 24.11%
SHAREHOLDERS EQUITY
Retained Earnings $4.124M $7.181M
YoY Change -42.57%
Common Stock $2.054K $1.946K
YoY Change 5.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.93M $29.93M $32.57M
YoY Change
Total Liabilities & Shareholders Equity $38.61M $38.61M $36.27M
YoY Change 6.47% 6.47% 4.17%

Cashflow Statement

Concept 2022 Q4 2022 2021 Q4
OPERATING ACTIVITIES
Net Income -$3.034M -$2.822M -$762.9K
YoY Change 297.76% -1282.52% -125.12%
Depreciation, Depletion And Amortization $254.9K $241.8K $198.6K
YoY Change 28.38% -29.21% -1.85%
Cash From Operating Activities $134.9K -$661.7K $1.248M
YoY Change -89.19% -123.12% -6.5%
INVESTING ACTIVITIES
Capital Expenditures $1.575M $1.616M $74.64K
YoY Change 2010.37% -189.78% -469.32%
Acquisitions $160.9K
YoY Change
Other Investing Activities $1.390M -$1.731M $11.33K
YoY Change 12164.08% -21.95% -100.29%
Cash From Investing Activities -$185.7K -$3.347M $85.96K
YoY Change -316.0% -16.69% -102.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 270.0 $1.851M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 134.9K -$661.7K 1.248M
Cash From Investing Activities -185.7K -$3.347M 85.96K
Cash From Financing Activities 270.0 $1.851M 0.000
Net Change In Cash -50.52K -$2.395M 1.334M
YoY Change -103.79% 107.24% -150.92%
FREE CASH FLOW
Cash From Operating Activities $134.9K -$661.7K $1.248M
Capital Expenditures $1.575M $1.616M $74.64K
Free Cash Flow -$1.440M -$2.278M $1.173M
YoY Change -222.77% -148.86% -13.41%

Facts In Submission

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CY2022 zcmd Writing Off Against Accounts Receivable
WritingOffAgainstAccountsReceivable
753447 usd
CY2021 zcmd Writing Off Against Accounts Receivable
WritingOffAgainstAccountsReceivable
1449827 usd
CY2020 zcmd Writing Off Against Accounts Receivable
WritingOffAgainstAccountsReceivable
336367 usd
CY2022 us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
383286 usd
CY2021 us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
341608 usd
CY2020 us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
202325 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
96921 usd
CY2022 zcmd Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
347025 usd
CY2021 zcmd Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
361369 usd
CY2020 zcmd Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
222353 usd
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
160777 usd
CY2021 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
211823 usd
CY2020 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
168350 usd
CY2022 zcmd Deferred Tax Expenses Benefits
DeferredTaxExpensesBenefits
134125 usd
CY2021 zcmd Deferred Tax Expenses Benefits
DeferredTaxExpensesBenefits
-1346616 usd
CY2020 zcmd Deferred Tax Expenses Benefits
DeferredTaxExpensesBenefits
-58424 usd
CY2022 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-240489 usd
CY2021 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-58403 usd
CY2020 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-10331 usd
CY2022 zcmd Downward Adjustment In Investments In An Equity Security
DownwardAdjustmentInInvestmentsInAnEquitySecurity
65394 usd
CY2022 zcmd Equity Investment Loss
EquityInvestmentLoss
-80 usd
CY2021 zcmd Equity Investment Loss
EquityInvestmentLoss
-13758 usd
CY2020 zcmd Equity Investment Loss
EquityInvestmentLoss
-25622 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1076292 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
104230 usd
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5486914 usd
CY2022 zcmd Prepayments
Prepayments
-659496 usd
CY2021 zcmd Prepayments
Prepayments
171144 usd
CY2021 zcmd Loans Repayment From Third Parties
LoansRepaymentFromThirdParties
1075098 usd
CY2022 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
-6206 usd
CY2020 zcmd Prepayments
Prepayments
-197402 usd
CY2022 us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
118888 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
193833 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-66148 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1302009 usd
CY2020 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1143200 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
103825 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-375144 usd
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
260350 usd
CY2022 us-gaap Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
369249 usd
CY2021 us-gaap Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
496 usd
CY2020 us-gaap Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
6398 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
3557 usd
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
905733 usd
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
535981 usd
CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-167585 usd
CY2021 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-4430 usd
CY2020 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
179738 usd
CY2022 zcmd Lease Liability
LeaseLiability
-306392 usd
CY2021 zcmd Lease Liability
LeaseLiability
-362567 usd
CY2020 zcmd Lease Liability
LeaseLiability
-230819 usd
CY2020 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
325992 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-661740 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2861848 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1037839 usd
CY2022 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1615905 usd
CY2021 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1799860 usd
CY2020 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
160602 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1112440 usd
CY2022 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
245467 usd
CY2020 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
688267 usd
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
996638 usd
CY2020 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
2043259 usd
CY2022 zcmd Release From Shortterm Investments
ReleaseFromShorttermInvestments
533891 usd
CY2021 zcmd Release From Shortterm Investments
ReleaseFromShorttermInvestments
1678367 usd
CY2020 zcmd Investment In A Limited Partnership
InvestmentInALimitedPartnership
1217039 usd
CY2021 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
708129 usd
CY2021 zcmd Investment In An Equity Security
InvestmentInAnEquitySecurity
-150000 usd
CY2022 zcmd Acquisition Of A Subsidiary
AcquisitionOfASubsidiary
3055432 usd
CY2022 zcmd Loan Repayment Fromprovided To A Related Party
LoanRepaymentFromprovidedToARelatedParty
139694 usd
CY2021 zcmd Loan Repayment Fromprovided To A Related Party
LoanRepaymentFromprovidedToARelatedParty
-387549 usd
CY2020 zcmd Loan Repayment Fromprovided To A Related Party
LoanRepaymentFromprovidedToARelatedParty
14489 usd
CY2022 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
1032219 usd
CY2021 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
3725211 usd
CY2022 zcmd Loans Repayment From Third Parties
LoansRepaymentFromThirdParties
1806772 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3346658 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4017284 usd
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4094678 usd
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11886363 usd
CY2020 zcmd Payment Of Expenses Relating To Initial Public Offerings
PaymentOfExpensesRelatingToInitialPublicOfferings
388709 usd
CY2022 zcmd Proceeds From Issuance Of Ordinary Shares In Connection With Direct Offering
ProceedsFromIssuanceOfOrdinarySharesInConnectionWithDirectOffering
1850744 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1850744 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11497654 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-236875 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-2529 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
875258 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2394529 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1157965 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7240395 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13914982 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15072947 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7832552 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11520453 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13914982 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15072947 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
134232 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
91464 usd
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
2642 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1774723 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
555639 usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
37919 usd
CY2022 us-gaap Stock Issued1
StockIssued1
210868 usd
CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
160940 usd
CY2019Q3 us-gaap Shares Issued
SharesIssued
1350068 shares
CY2019Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
675000 shares
CY2022 zcmd Percentage Of Economic Beneficial Interest
PercentageOfEconomicBeneficialInterest
0.0519 pure
CY2022 zcmd Ownership Voting Percentage
OwnershipVotingPercentage
0.0131 pure
CY2019Q4 us-gaap Other Additional Capital
OtherAdditionalCapital
20000000 cny
CY2019Q4 us-gaap Other Additional Capital
OtherAdditionalCapital
2900000 usd
CY2019Q3 zcmd Initial Equity Interest Pledge Agreement
InitialEquityInterestPledgeAgreement
P20Y
CY2019Q3 zcmd Service Fees
ServiceFees
1 pure
CY2022 zcmd Minority Equity Interest
MinorityEquityInterest
0.40 pure
CY2022 zcmd Foreign Currency Exchange Rate Translations Balance Sheet Excep Equity
ForeignCurrencyExchangeRateTranslationsBalanceSheetExcepEquity
6.8972
CY2021 zcmd Foreign Currency Exchange Rate Translations Balance Sheet Excep Equity
ForeignCurrencyExchangeRateTranslationsBalanceSheetExcepEquity
6.3726
CY2022 zcmd Foreign Currency Exchange Rate Translations Statements Of Iincome And Comprehensive Income And Statements Of Cashflows
ForeignCurrencyExchangeRateTranslationsStatementsOfIincomeAndComprehensiveIncomeAndStatementsOfCashflows
6.7290
CY2021 zcmd Foreign Currency Exchange Rate Translations Statements Of Iincome And Comprehensive Income And Statements Of Cashflows
ForeignCurrencyExchangeRateTranslationsStatementsOfIincomeAndComprehensiveIncomeAndStatementsOfCashflows
6.4508
CY2020 zcmd Foreign Currency Exchange Rate Translations Statements Of Iincome And Comprehensive Income And Statements Of Cashflows
ForeignCurrencyExchangeRateTranslationsStatementsOfIincomeAndComprehensiveIncomeAndStatementsOfCashflows
6.9020
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates and assumptions using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. The Company bases its estimates on past experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Estimates are used when accounting for items and matters including, but not limited to, fair value of the Company’s ordinary shares, fair value of the Company’s subsidiaries, determinations of the useful lives and valuation of long-lived assets, valuation of goodwill, estimates of allowances for doubtful accounts, valuation of deferred tax assets, and other provisions and contingencies.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q4 zcmd Wrote Off Against Accounts Receivables
WroteOffAgainstAccountsReceivables
753447 usd
CY2021Q4 zcmd Wrote Off Against Accounts Receivables
WroteOffAgainstAccountsReceivables
1449827 usd
CY2020Q4 zcmd Wrote Off Against Accounts Receivables
WroteOffAgainstAccountsReceivables
336367 usd
CY2022Q4 zcmd Written Off
WrittenOff
543315 usd
CY2021Q4 zcmd Written Off
WrittenOff
1449827 usd
CY2020Q4 zcmd Written Off
WrittenOff
336367 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
207269 usd
CY2022 zcmd Prepayment
Prepayment
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Prepayments</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prepayments represent amounts advanced to suppliers for providing services to the Company. The suppliers usually require advance payments when the Company orders service and the prepayments will be utilized to offset the Company’s future payments. These amounts are unsecured, non-interest bearing and generally short-term in nature.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 zcmd Government Grants
GovernmentGrants
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Investments in an equity security</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Equity securities not accounted for using the equity method are carried at fair value with unrealized gains and losses recorded in the consolidated statements of operations and comprehensive (loss) income, according to ASC 321 “Investments — Equity Securities”, which the Company adopted beginning January 1, 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2022, the Company had investment in one equity security. The Company elected to record an equity investment in privately held companies using the measurement alternative at cost, less impairment, with subsequent adjustments for observable price changes resulting from orderly transactions for identical or similar investments of the same issuer. As a practical expedient, the Company uses Net Asset Value (“NAV”) or its equivalent to measure the fair value of the investment in the fund. NAV is primarily determined based on information provided by financial institution.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The equity investment in privately held companies accounted for using the measurement alternative are subject to periodic impairment reviews. The Company’s impairment analysis considers both qualitative and quantitative factors that may have a significant effect on the fair value of the equity security, including consideration of the impact of the COVID-19 pandemic.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q4 us-gaap Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
0.05 pure
CY2022 us-gaap Regulatory Liability Amortization Period
RegulatoryLiabilityAmortizationPeriod
P1Y
CY2022 zcmd Other Revenues Percentage
OtherRevenuesPercentage
0.003 pure
CY2021 zcmd Other Revenues Percentage
OtherRevenuesPercentage
0.012 pure
CY2020 zcmd Other Revenues Percentage
OtherRevenuesPercentage
0 pure
CY2022 zcmd Medical Training And Education Services
MedicalTrainingAndEducationServices
6604487 usd
CY2021 zcmd Medical Training And Education Services
MedicalTrainingAndEducationServices
8754120 usd
CY2020 zcmd Medical Training And Education Services
MedicalTrainingAndEducationServices
10543852 usd
CY2022 zcmd Assistance In Patientaid Projects
AssistanceInPatientaidProjects
6288602 usd
CY2021 zcmd Assistance In Patientaid Projects
AssistanceInPatientaidProjects
7343343 usd
CY2020 zcmd Assistance In Patientaid Projects
AssistanceInPatientaidProjects
7445936 usd
CY2022 zcmd Sales Of Patented Drug
SalesOfPatentedDrug
1216096 usd
CY2022 zcmd Other Consulting Services
OtherConsultingServices
42331 usd
CY2021 zcmd Other Consulting Services
OtherConsultingServices
199307 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
14151516 usd
CY2021Q4 us-gaap Other Assets
OtherAssets
16296770 usd
CY2020Q4 us-gaap Other Assets
OtherAssets
17989788 usd
CY2022 zcmd Cost Of Revenues
CostOfRevenues
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Cost of revenues</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of revenues was comprised of direct related costs incurred for preparation of online medical training courses and offline education seminars and patient-aid projects and cost of patented drugs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost of preparation of online medical training courses and offline education seminars and patient management services in patient-aid projects includes expenses of travelling and accommodation, seminar site-rental, video production and backdrop production, professional service fees charged by experts who provide online and offline seminars, salary and welfare expenses incurred by the key members of the editorial, design and production team, and labor cost for patient-aid projects. The travelling and accommodation expenses, including but not limited to the air-ticket expenses and hotel accommodation expenses, represented the costs arising from lecturers’ attendance and participation of the offline seminars. Other media expenses were incurred by the Company’s medical department for videos production, live streaming of the offline seminars, and materials collection to create online courses. These travelling, accommodation and media expenses are well budgeted before any agreements entered into by the Company and the customers. Therefore, such expenses are well covered by the customers under those agreements. The Company is not reimbursed by the customers separately.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p>
CY2021Q4 zcmd Variable Interest Entity Advances From Customers
VariableInterestEntityAdvancesFromCustomers
7432 usd
CY2022 zcmd Employee Benefits
EmployeeBenefits
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Employee benefits</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were $817,345, $804,730, and $310,637 for the years ended December 31, 2022, 2021 and 2020, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
817345 usd
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
804730 usd
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
310637 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
411524 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
758878 usd
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
816553 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
989900 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
2204233 usd
CY2020 us-gaap Advertising Expense
AdvertisingExpense
2851648 usd
CY2022 zcmd Value Added Tax
ValueAddedTax
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Value added tax</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is subject to value added tax (“VAT”) and related surcharges on the revenues earned for both sales of products and rendering of services in the PRC. The applicable rate of value added tax is 6% on services and 13% on sales of products. The related surcharges for revenues derived from provision medical courses are deducted from gross receipts to arrive at net revenues.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q4 zcmd Value Added Taxs
ValueAddedTaxs
0.06 pure
CY2022 zcmd Sale Of Products
SaleOfProducts
0.13 pure
CY2022Q4 zcmd Variable Interest Entity Income Tax Payable
VariableInterestEntityIncomeTaxPayable
2292765 usd
CY2022 zcmd Amount Of Tax Benefit
AmountOfTaxBenefit
0.50 pure
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassification</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-size: 7pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain items in the financial statements of comparative period have been reclassified to conform to the financial statements for the current period. The reclassification has no impact on the total assets and total liabilities as of December 31, 2022 or on the statements of operations for the year ended December 31, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt"> </span></p>
CY2022 zcmd Recently Issued Accounting Pronouncements
RecentlyIssuedAccountingPronouncements
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Recently issued accounting pronouncements</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2016, the FASB issued ASU No. 2016-13, <i>Financial Instruments – Credit Losses</i> (Topic 326): <i>Measurement of Credit Losses on Financial Instruments</i>. This ASU is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. This ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of the Company’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. The effective date was for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, for public business entities that meet the definition of an SEC filer and eligible to be Smaller Reporting Companies, or SRC, as defined by the SEC and all non-public business entities. As an “emerging growth company,” or EGC, the Company has elected to take advantage of the extended transition period provided in the Securities Act Section 7(a)(2)(B) for complying with new or revised accounting standards applicable to private companies. The Company will adopt ASU 2016-13 and its related amendments effective January 1, 2023, and the Company does not expect material impact on adoption of this standard on its consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material impact on its the consolidated financial position, statements of operations and cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt"> </span></p>
CY2022 zcmd Significant Risks And Uncertainties
SignificantRisksAndUncertainties
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Significant risks and uncertainties</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit risk</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents. The maximum exposure of such assets to credit risk is their carrying amount as at the balance sheet dates. As of December 31, 2022, the Company held cash and cash equivalents of $11,520,453, among which were $4,700,379 was deposited in financial institutions located in Mainland China, and each bank account is insured by the government authority with the maximum limit of RMB 500,000 (equivalent to approximately $72,500). The Company also held cash of $4,709,310 deposited in the financial institutions in the United States, and each bank account is insured with the maximum limit of $250,000 by Federal Deposit Insurance Corporation (“FDIC”) insurance. In addition, the Company maintains certain bank accounts in Japan with cash balance of $1,538,404, which are not insured by FDIC insurance or other insurance. To limit exposure to credit risk relating to deposits, the Company primarily place cash and cash equivalent deposits with large financial institutions  which management believes are of high credit quality and the Company also continually monitors their credit worthiness.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s operations are carried out in China. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC’s economy. In addition, the Company’s business may be influenced by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, rates and methods of taxation among other factors.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign currency risk</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Substantially all of the Company’s operating activities and the Company’s assets and liabilities are denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the Peoples’ Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other risk</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s business, financial condition and results of operations may also be negatively impacted by risks related to natural disasters, extreme weather conditions, health epidemics and other catastrophic incidents, such as the COVID-19 outbreak and spread, management is currently evaluating the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position and results of its operations, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p>
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CY2021Q4 zcmd Variable Interest Entity Due To Zhongchao Inc
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CY2021 zcmd Variable Interest Entity Revenues
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CY2022Q3 zcmd Cash Consideration
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CY2022Q3 zcmd Cash Consideration
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CY2022 zcmd Fair Value Of Previously Held Equity Interests
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CY2022 zcmd Cash Consideration
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CY2020Q4 zcmd Partnership Interest Percentage
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CY2020Q4 zcmd Local Taxes Payable
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CY2021 zcmd Applicable Tax Rate Description
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The applicable tax rate for the first HKD$2 million of assessable profits is 8.25% and assessable profits above HKD$2 million will continue to be subject to the rate of 16.5% for corporations in Hong Kong, effective from the year of assessment 2018/2019. Before that, the applicable tax rate was 16.5% for corporations in Hong Kong.
CY2022 zcmd Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate Percent
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2022 zcmd Enterprise Income Tax Description
EnterpriseIncomeTaxDescription
SMEs are entitled to a reduced EIT rate of a reduced EIT rate of 20%, 87.5% reduction of taxable income for the first RMB1,000,000 taxable income and 75% reduction of taxable income between RMB 1,000,000 and RMB 3,000,000, and no reduction for the remaining taxable income for the year ended December 31, 2022; 87.5% reduction of taxable income for the first RMB1,000,000 taxable income and 50% reduction of taxable income between RMB 1,000,000 and RMB 3,000,000, and no reduction for the remaining taxable income for the year ended December 31, 2021; and 75% reduction of taxable income for the first RMB1,000,000 taxable income and 50% reduction of taxable income between RMB 1,000,000 and RMB 3,000,000, and no reduction for the remaining taxable income for the years ended before December 31, 2020. 
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2022Q4 zcmd Pr Cand Non Prc Total
PRCandNonPRCTotal
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CY2020Q4 zcmd Pr Cand Non Prc Total
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-110753 usd
CY2019Q4 zcmd Pr Cand Non Prc Total
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CY2022 us-gaap Current Income Tax Expense Benefit
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-138188 usd
CY2021 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 zcmd Effect Of Different Income Tax Rates In Other Jurisdictionsin Dollars
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CY2021 zcmd Effect Of Different Income Tax Rates In Other Jurisdictionsin Dollars
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CY2020 zcmd Effect Of Different Income Tax Rates In Other Jurisdictionsin Dollars
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CY2022 zcmd Effective Income Tax Rate Reconciliation Preferential Tax Benefits
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CY2021 zcmd Effective Income Tax Rate Reconciliation Preferential Tax Benefits
EffectiveIncomeTaxRateReconciliationPreferentialTaxBenefits
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CY2020 zcmd Effective Income Tax Rate Reconciliation Preferential Tax Benefits
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.0035 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Deductions
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2022 us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
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CY2021Q4 zcmd Lease Liabilities
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CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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CY2022Q4 us-gaap Deferred Income Tax Assets Net
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CY2021Q4 us-gaap Deferred Income Tax Assets Net
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CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
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208200 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
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CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
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CY2022 zcmd Net Operating Loss Carryforwards Description
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.183
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19696 usd
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118888 usd
CY2022 zcmd Beijings Ougaini
BeijingsOugaini
115989 usd
CY2022 zcmd Yang Weiguangi
YangWeiguangi
226178 usd
CY2021 zcmd Beijing Yisuizhenii
BeijingYisuizhenii
392305 usd
CY2022 zcmd Total
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226178 usd
CY2021 zcmd Total
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392305 usd
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144986 usd
CY2022 zcmd Number Of Shareholders
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CY2022Q4 zcmd Common Stock Share Authorized
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500000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
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Holders of Class A Ordinary Shares and Class B Class A Ordinary Shares have the same rights except for voting and conversion rights. In respect of matters requiring a shareholder vote, each Class A Ordinary Share will be entitled to 1 vote and each Class B Ordinary Share will be entitled to 15 votes.
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
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0.0625 pure
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1350068 shares
CY2022 zcmd Economic Beneficial Interest Rate
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0.0519 pure
CY2022 us-gaap Variable Interest Entity Ownership Percentage
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0.0131 pure
CY2022Q4 zcmd Aftertax Profits
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0.10 pure
CY2022Q4 zcmd Reserve Funds
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0.50 pure
CY2022Q4 zcmd Accrued Statutory Reserve
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CY2021Q4 zcmd Accrued Statutory Reserve
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CY2020Q4 zcmd Accrued Statutory Reserve
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0.10 pure
CY2021 zcmd Percentage Of Retained Earning
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CY2020 zcmd Percentage Of Retained Earning
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CY2022Q4 zcmd Statutory Reserve Funds
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CY2021Q4 zcmd Statutory Reserve Funds
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13314132 usd
CY2021Q4 us-gaap Assets Net
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0.10 pure
CY2020 zcmd Cost Of Revenue Percentage
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0.10 pure
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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CY2021 zcmd Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grants Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantsDateFairValue
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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CY2022 zcmd Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grants Date Fair Value
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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18000 shares
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CY2021 us-gaap Allocated Share Based Compensation Expense
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CY2021Q4 us-gaap Financial Services Liabilities
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CY2021Q4 us-gaap Assets
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CY2021Q4 us-gaap Operating Lease Liability
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CY2022 zcmd Appropriation Of Statutory Reserve
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CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2022 dei Entity Registrant Name
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Zhongchao Inc.
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CY2021Q4 us-gaap Goodwill
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CY2020 zcmd Appropriation Of Statutory Reserve
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CY2022 us-gaap Increase Decrease In Deferred Income Taxes
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CY2021 us-gaap Increase Decrease In Deferred Income Taxes
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Land Held For Use
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CY2020 zcmd Release From Shortterm Investments
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CY2022 zcmd Investment In A Limited Partnership
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CY2021 zcmd Investment In A Limited Partnership
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CY2022 zcmd Investment In An Equity Security
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CY2020 zcmd Investment In An Equity Security
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CY2021 zcmd Acquisition Of A Subsidiary
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CY2020 zcmd Acquisition Of A Subsidiary
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usd
CY2020 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
usd
CY2020 zcmd Loans Repayment From Third Parties
LoansRepaymentFromThirdParties
usd
CY2021 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2022 zcmd Payment Of Expenses Relating To Initial Public Offerings
PaymentOfExpensesRelatingToInitialPublicOfferings
usd
CY2021 zcmd Payment Of Expenses Relating To Initial Public Offerings
PaymentOfExpensesRelatingToInitialPublicOfferings
usd
CY2021 zcmd Proceeds From Issuance Of Ordinary Shares In Connection With Direct Offering
ProceedsFromIssuanceOfOrdinarySharesInConnectionWithDirectOffering
usd
CY2020 zcmd Proceeds From Issuance Of Ordinary Shares In Connection With Direct Offering
ProceedsFromIssuanceOfOrdinarySharesInConnectionWithDirectOffering
usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2020 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2021 us-gaap Stock Issued1
StockIssued1
usd
CY2020 us-gaap Stock Issued1
StockIssued1
usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
usd
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
usd
CY2021 zcmd Sales Of Patented Drug
SalesOfPatentedDrug
usd
CY2020 zcmd Sales Of Patented Drug
SalesOfPatentedDrug
usd
CY2020 zcmd Other Consulting Services
OtherConsultingServices
usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
usd
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Goodwill Noncurrent
DisposalGroupIncludingDiscontinuedOperationGoodwillNoncurrent
usd
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
usd
CY2021Q4 zcmd Due From Related Partie
DueFromRelatedPartie
usd
CY2021 zcmd Downward Adjustments In Investments In An Equity Security
DownwardAdjustmentsInInvestmentsInAnEquitySecurity
usd
CY2021Q4 us-gaap Customer Advances And Deposits
CustomerAdvancesAndDeposits
usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
usd
CY2021 us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
usd
CY2021 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
usd
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24425637 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24938513 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25997757 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.010
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.113
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.183
CY2021 zcmd Beijing Ougaini
BeijingOugaini
usd
CY2020 zcmd Beijing Ougaini
BeijingOugaini
usd
CY2021 zcmd Beijings Ougaini
BeijingsOugaini
usd
CY2021 zcmd Yang Weiguangi
YangWeiguangi
usd
CY2022 zcmd Beijing Yisuizhenii
BeijingYisuizhenii
usd
CY2021 zcmd Sales Of Patented Drugs
SalesOfPatentedDrugs
usd
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001785566
CY2022 dei Trading Symbol
TradingSymbol
ZCMD

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