Income Taxes, Deferred Tax Assets and Deferred Tax Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Income Taxes, Deferred Tax Assets and Deferred Tax Liabilities [Abstract]

Schedule of provision for income taxes credit

	Three months ended March 31,
	2022		2023
PRC income tax
Current income tax	$	-	$	-
Deferred income tax credit		93,546		402,884
	$	93,546	$	402,884

Schedule of provision for income taxes determined at the statutory income tax rate

	Three months ended March 31,
	2022			2023
Income (loss) before income taxes	$	586,957		$	(2,607,366	)
United States federal corporate income tax rate		21	%		21	%
Income tax expenses (credit) computed at United States statutory corporate income tax rate		123,261			(547,547	)
Reconciling items:
Rate differential for PRC earnings		(25,584	)		(102,559	)
Tax effect of entity at preferential tax rate		(9,972	)		88,661
Non-taxable (income) expenses		(264,922	)		8,068
Share based payments		7,304			1,028
Valuation allowance on deferred tax assets		76,367			144,465
Income tax credit	$	(93,546	)	$	(402,884	)

Schedule of deferred tax assets and liabilities

	December 31, 2022			March 31, 2023
Deferred tax assets
Trade receivable	$	1,976,354		$	1,345,136
Inventories		554,041			669,619
Property, plant and equipment		2,353,141			2,142,003
Long-term investments, net		161,716			162,663
Intangible assets		97,468			103,542
Accrued expenses, payroll and others		224,795			223,400
Provision for product warranty		119,207			123,920
Net operating loss carried forward		34,379,188			34,573,895
Valuation allowance		(37,122,551	)		(36,287,803	)
Deferred tax assets, non-current	$	2,743,359		$	3,056,375
Deferred tax liabilities, non-current
Long-lived assets arising from acquisitions	$	256,380		$	153,519