2023 Q4 Form 20-F Financial Statement

#000121390024037934 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $9.058M $19.43M $6.856M
YoY Change 32.12% 37.33% -10.74%
Cost Of Revenue $4.869M $10.92M $5.558M
YoY Change -12.4% 40.11% 49.8%
Gross Profit $4.189M $8.512M $1.298M
YoY Change 222.74% 33.91% -67.31%
Gross Profit Margin 46.25% 43.8% 18.93%
Selling, General & Admin $4.824M $13.41M $4.537M
YoY Change 6.33% 50.66% -5.64%
% of Gross Profit 115.16% 157.52% 349.54%
Research & Development $215.0K $514.4K $258.2K
YoY Change -16.74% 25.0% -24.67%
% of Gross Profit 5.13% 6.04% 19.9%
Depreciation & Amortization $242.1K $518.5K $254.9K
YoY Change -5.03% 114.39% 28.38%
% of Gross Profit 5.78% 6.09% 19.64%
Operating Expenses $5.039M $21.80M $4.795M
YoY Change 5.09% 134.09% -6.91%
Operating Profit -$850.0K -$13.28M -$3.497M
YoY Change -75.69% 349.62% 196.35%
Interest Expense $180.0K $892.0K $59.10K
YoY Change 204.57% 528.12% -46.37%
% of Operating Profit
Other Income/Expense, Net $285.0K $1.070M $509.8K
YoY Change -44.09% 307.61% -699.45%
Pretax Income -$6.795M -$11.98M -$2.928M
YoY Change 132.05% 369.69% 153.55%
Income Tax -$267.0K -$669.8K -$12.38K
% Of Pretax Income
Net Earnings -$6.614M -$11.34M -$3.034M
YoY Change 117.96% 301.65% 297.76%
Net Earnings / Revenue -73.02% -58.33% -44.26%
Basic Earnings Per Share -$4.35
Diluted Earnings Per Share -$2.54 -$4.35 -$0.12
COMMON SHARES
Basic Shares Outstanding 2.603M shares
Diluted Shares Outstanding 2.603M shares

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.45M $13.45M $12.04M
YoY Change 11.7% 11.7% -15.29%
Cash & Equivalents $7.549M $7.549M $11.52M
Short-Term Investments $5.898M $5.898M $518.4K
Other Short-Term Assets $451.4K $1.656M $493.0K
YoY Change -8.44% 23.35% -36.03%
Inventory $592.4K $592.0K $189.1K
Prepaid Expenses $1.386M $1.028M
Receivables $2.553M $2.553M $6.773M
Other Receivables $463.0K $2.066M
Total Short-Term Assets $18.71M $18.71M $22.70M
YoY Change -17.59% -17.59% -16.69%
LONG-TERM ASSETS
Property, Plant & Equipment $3.222M $4.019M $3.891M
YoY Change -17.19% -27.69% -5.76%
Goodwill $5.768M
YoY Change
Intangibles $17.54K $912.1K
YoY Change -98.08% 2914.16%
Long-Term Investments $1.145M $1.311M $1.264M
YoY Change -9.38% 3.73% -41.03%
Other Assets $358.0K $358.0K $2.104M
YoY Change -82.99% -82.99% -10.76%
Total Long-Term Assets $5.706M $5.706M $15.91M
YoY Change -64.14% -64.14% 76.51%
TOTAL ASSETS
Total Short-Term Assets $18.71M $18.71M $22.70M
Total Long-Term Assets $5.706M $5.706M $15.91M
Total Assets $24.42M $24.42M $38.61M
YoY Change -36.77% -36.77% 6.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $683.9K $684.0K $140.8K
YoY Change 385.63% 385.69% 261.76%
Accrued Expenses $1.149M $1.003M $1.336M
YoY Change -14.01% -13.33% 25.61%
Deferred Revenue $838.8K $395.3K
YoY Change 112.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.678M $2.678M $4.165M
YoY Change -35.69% -35.7% 16.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $572.0K $572.0K $1.222M
YoY Change -53.19% -53.19% 985.22%
Total Long-Term Liabilities $572.0K $572.0K $1.222M
YoY Change -53.19% -53.19% 985.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.678M $2.678M $4.165M
Total Long-Term Liabilities $572.0K $572.0K $1.222M
Total Liabilities $3.378M $6.410M $5.595M
YoY Change -39.62% -26.2% 51.18%
SHAREHOLDERS EQUITY
Retained Earnings -$7.268M $4.124M
YoY Change -276.24% -42.57%
Common Stock $2.054K
YoY Change 5.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.01M $18.01M $29.93M
YoY Change
Total Liabilities & Shareholders Equity $24.42M $24.42M $38.61M
YoY Change -36.77% -36.77% 6.47%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$6.614M -$11.34M -$3.034M
YoY Change 117.96% 301.65% 297.76%
Depreciation, Depletion And Amortization $242.1K $518.5K $254.9K
YoY Change -5.03% 114.39% 28.38%
Cash From Operating Activities $1.907M $54.23K $134.9K
YoY Change 1314.15% -108.19% -89.19%
INVESTING ACTIVITIES
Capital Expenditures $827.4K $839.7K $1.575M
YoY Change -47.47% -48.04% 2010.37%
Acquisitions $233.3K
YoY Change 44.94%
Other Investing Activities -$4.866M -$2.915M $1.390M
YoY Change -450.19% 68.42% 12164.08%
Cash From Investing Activities -$5.693M -$3.755M -$185.7K
YoY Change 2966.41% 12.19% -316.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 270.0
YoY Change
NET CHANGE
Cash From Operating Activities 1.907M $54.23K 134.9K
Cash From Investing Activities -5.693M -$3.755M -185.7K
Cash From Financing Activities 270.0
Net Change In Cash -3.786M -$3.972M -50.52K
YoY Change 7394.06% 65.87% -103.79%
FREE CASH FLOW
Cash From Operating Activities $1.907M $54.23K $134.9K
Capital Expenditures $827.4K $839.7K $1.575M
Free Cash Flow $1.080M -$785.5K -$1.440M
YoY Change -174.98% -65.51% -222.77%

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CY2022 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
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CY2021 us-gaap Proceeds From Sale And Maturity Of Other Investments
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CY2021 us-gaap Payments To Acquire Equity Securities Fv Ni
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CY2023 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
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CY2022 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
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CY2021 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
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CY2023 us-gaap Payments To Acquire Loans Receivable
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CY2022 us-gaap Payments To Acquire Loans Receivable
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CY2021 us-gaap Payments To Acquire Loans Receivable
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CY2023 us-gaap Proceeds From Collection Of Loans Receivable
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CY2022 us-gaap Proceeds From Collection Of Loans Receivable
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CY2021 us-gaap Proceeds From Collection Of Loans Receivable
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CY2022 us-gaap Cash Acquired From Acquisition
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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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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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Income Taxes Paid
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CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2021 us-gaap Income Taxes Paid
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023 zcmd Decrease In Right Of Use Assets And Operating Lease Obligations
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CY2022 us-gaap Notes Issued1
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CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2019Q3 us-gaap Shares Issued
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135007 shares
CY2019Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
675000 shares
CY2023 zcmd Percentage Of Economic Beneficial Interest
PercentageOfEconomicBeneficialInterest
0.0518 pure
CY2023 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
CY2023 zcmd Foreign Currency Exchange Rate Translations Balance Sheet Excep Equity
ForeignCurrencyExchangeRateTranslationsBalanceSheetExcepEquity
7.0999 pure
CY2022 zcmd Foreign Currency Exchange Rate Translations Balance Sheet Excep Equity
ForeignCurrencyExchangeRateTranslationsBalanceSheetExcepEquity
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CY2023 zcmd Foreign Currency Exchange Rate Translations Statements Of Iincome And Comprehensive Income And Statements Of Cashflows
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CY2022 zcmd Foreign Currency Exchange Rate Translations Statements Of Iincome And Comprehensive Income And Statements Of Cashflows
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CY2021 zcmd Foreign Currency Exchange Rate Translations Statements Of Iincome And Comprehensive Income And Statements Of Cashflows
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Use of estimates</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>
CY2022 us-gaap Revenues
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CY2021 us-gaap Revenues
Revenues
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CY2023 us-gaap Provision For Doubtful Accounts
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CY2022 us-gaap Provision For Doubtful Accounts
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CY2021 us-gaap Provision For Doubtful Accounts
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CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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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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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023 zcmd Prepayment
Prepayment
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prepayments</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 or products to the Company. The suppliers usually require advance payments when the Company orders services or products 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>
CY2023 zcmd Government Grants
GovernmentGrants
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investments in an equity security</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">As of December 31, 2023 and 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">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>
CY2023Q4 us-gaap Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
0.05 pure
CY2023 zcmd Disposal The Prepayments For Lease Of Land
DisposalThePrepaymentsForLeaseOfLand
285553 usd
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
536206 usd
CY2023 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
5617865 usd
CY2023 zcmd Other Revenues Percentage
OtherRevenuesPercentage
0.001 pure
CY2022 zcmd Other Revenues Percentage
OtherRevenuesPercentage
0.003 pure
CY2021 zcmd Other Revenues Percentage
OtherRevenuesPercentage
0.012 pure
CY2023 us-gaap Revenues
Revenues
19433945 usd
CY2023 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
707493 usd
CY2022 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
817345 usd
CY2021 us-gaap Postemployment Benefits Period Expense
PostemploymentBenefitsPeriodExpense
804730 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
514411 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
411524 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
758878 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
4197993 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
989900 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
2204233 usd
CY2023 zcmd Value Added Tax
ValueAddedTax
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Value added tax</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>
CY2023Q4 zcmd Value Added Taxs
ValueAddedTaxs
0.06 pure
CY2023 zcmd Sale Of Products
SaleOfProducts
0.13 pure
CY2023 zcmd Amount Of Tax Benefit
AmountOfTaxBenefit
0.50 pure
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reclassification</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>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Significant risks and uncertainties</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: 0.25in; text-align: left"><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"><span style="font-family: 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, 2023, the Company held cash and cash equivalents of $7,548,694 and certificate of deposits of $5,241,677 included in short-term investment, among which were $5,951,558 cash 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 $70,424). The Company also had cash equivalent of $4,740,686 that was invested in highly liquid investments with original maturities of three months or less in financial instructions located in Mainland China that was not insured by the aforementioned deposit insurance. The Company held cash of $254,876 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 $1,453,590 which is fully insured by the Deposit Insurance Corporation of Japan (“DICJ”). The Company also had cash of $389,661 that was deposited at certain investment accounts with financial institution located in Hong Kong. These cash deposits 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.</span></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: 0.25in; text-align: left"><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">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><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: 0.25in; text-align: left"><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">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">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 has concluded that it is not reasonably possible that the virus could have a negative effect on the Company’s financial position and results of its operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p>
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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.
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CY2023 zcmd Enterprise Income Tax Description
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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208200 usd
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81910 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
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CY2023Q4 us-gaap Deferred Tax Assets Gross
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CY2022Q4 us-gaap Deferred Tax Assets Gross
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81910 usd
CY2023Q4 us-gaap Deferred Tax Liabilities
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128250 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
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208200 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
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CY2022Q4 us-gaap Operating Loss Carryforwards
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7166560 usd
CY2023 zcmd Net Operating Loss Carryforwards Description
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The Company also has net operating loss carryforwards from PRC of 6,115,987 which expire starting in 2025 through 2028.
CY2023Q4 us-gaap Deferred Tax Assets Net
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716600 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
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339495 usd
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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238665 usd
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2603354 shares
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CommonStockParOrStatedValuePerShare
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CY2023 us-gaap Common Stock Voting Rights
CommonStockVotingRights
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CY2023 zcmd Ordinary Share Issued
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135007 shares
CY2023Q4 zcmd Economic Beneficial Interest Rate
EconomicBeneficialInterestRate
0.0518 pure
CY2023Q4 zcmd Voting Interest
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0.0131 pure
CY2023Q4 zcmd Aftertax Profits
AftertaxProfits
0.10 pure
CY2023Q4 zcmd Reserve Funds
ReserveFunds
0.50 pure
CY2023Q4 zcmd Accrued Statutory Reserve
AccruedStatutoryReserve
56151 usd
CY2022Q4 zcmd Accrued Statutory Reserve
AccruedStatutoryReserve
115963 usd
CY2021Q4 zcmd Accrued Statutory Reserve
AccruedStatutoryReserve
397552 usd
CY2023 zcmd Percentage Of Retained Earning
PercentageOfRetainedEarning
0.10 pure
CY2022 zcmd Percentage Of Retained Earning
PercentageOfRetainedEarning
0.10 pure
CY2021 zcmd Percentage Of Retained Earning
PercentageOfRetainedEarning
0.10 pure
CY2023Q4 zcmd Statutory Reserve Funds
StatutoryReserveFunds
1371168 usd
CY2022Q4 zcmd Statutory Reserve Funds
StatutoryReserveFunds
1315017 usd
CY2023Q4 us-gaap Assets Net
AssetsNet
13370283 usd
CY2022Q4 us-gaap Assets Net
AssetsNet
13314132 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
42708 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
25.3
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1800 shares
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
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.6
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
13788 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
23.7
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
30720 shares
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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25.2
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1800 shares
CY2023 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
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.1
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
1800 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
11.6
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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30720 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
25.2
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
135547 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
160777 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
211823 usd
CY2023 us-gaap Number Of Operating Segments
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2 segment
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2021 us-gaap Number Of Reportable Segments
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1 segment
CY2023 us-gaap Revenues
Revenues
19433945 usd
CY2023 us-gaap Cost Of Revenue
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CY2023 us-gaap Operating Expenses
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CY2023 us-gaap Profit Loss
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CY2022 us-gaap Revenues
Revenues
14151516 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
7794852 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
9311126 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-2822319 usd
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
24416643 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
38614345 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
796653 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1666777 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
236294 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
480633 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
571862 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1221845 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
808156 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1702478 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P1Y6M7D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P1Y9M25D
CY2023Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0475 pure
CY2022Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0475 pure
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
412891 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
498166 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
426152 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
427278 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
409595 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
480636 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
268046 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
184128 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
172841 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
172841 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
86420 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
884276 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
76120 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
808156 usd
CY2023 dei Document Accounting Standard
DocumentAccountingStandard
U.S. GAAP
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2023Q4 us-gaap Other Receivables Net Current
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CY2023Q4 us-gaap Goodwill
Goodwill
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CY2023Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
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CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2022 us-gaap Gain Loss On Disposition Of Assets
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CY2021 us-gaap Gain Loss On Disposition Of Assets
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CY2022 us-gaap Goodwill Impairment Loss
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CY2021 us-gaap Goodwill Impairment Loss
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CY2022 us-gaap Impairment Of Intangible Assets Finitelived
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WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2599776 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2603354 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.096
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.354
CY2021 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2021 zcmd Appropriation Of Statutory Reserve
AppropriationOfStatutoryReserve
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CY2023 zcmd Appropriation Of Statutory Reserve
AppropriationOfStatutoryReserve
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CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
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CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
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CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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CY2021 us-gaap Increase Decrease Due From Other Related Parties
IncreaseDecreaseDueFromOtherRelatedParties
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CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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CY2023 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
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CY2021 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
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CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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CY2023 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
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CY2022 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
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CY2023 us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
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CY2022 us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
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CY2023 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
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CY2021 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
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CY2023 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
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CY2021 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
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CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 zcmd Decrease In Right Of Use Assets And Operating Lease Obligations
DecreaseInRightOfUseAssetsAndOperatingLeaseObligations
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CY2021 zcmd Decrease In Right Of Use Assets And Operating Lease Obligations
DecreaseInRightOfUseAssetsAndOperatingLeaseObligations
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CY2023 us-gaap Notes Issued1
NotesIssued1
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CY2021 us-gaap Notes Issued1
NotesIssued1
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CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2022 zcmd Disposal The Prepayments For Lease Of Land
DisposalThePrepaymentsForLeaseOfLand
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CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
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CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
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CY2022 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
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CY2021 us-gaap Goodwill Impairment Loss Net Of Tax
GoodwillImpairmentLossNetOfTax
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CY2023Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
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CY2023Q4 zcmd Prepayments For Lease Of Land Gross
PrepaymentsForLeaseOfLandGross
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CY2023Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
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CY2023Q4 zcmd Prepayments For Lease Of Land Net
PrepaymentsForLeaseOfLandNet
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CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
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CY2022Q4 us-gaap Accrued Sales Commission Current And Noncurrent
AccruedSalesCommissionCurrentAndNoncurrent
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CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
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CY2023Q4 zcmd Changes In Fair Value Of Shortterm Investments
ChangesInFairValueOfShorttermInvestments
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CY2023Q4 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Intangible Assets
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceIntangibleAssets
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CY2022Q4 zcmd Changes In Fair Value Of Shortterm Investment
ChangesInFairValueOfShorttermInvestment
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CY2022Q4 zcmd Upward Adjustments In Investment In An Equity Security
UpwardAdjustmentsInInvestmentInAnEquitySecurity
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CY2022Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
DeferredTaxLiabilitiesTaxDeferredIncome
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CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2023 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
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CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
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CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
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CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2493851 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2599776 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2603354 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.096
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.131
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.354
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
usd
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001785566
CY2023 dei Trading Symbol
TradingSymbol
ZCMD

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