XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Income And Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Income Statement [Abstract]        
Net sales $ 44,330,954 $ 15,546,182 $ 173,147,982 $ 37,680,312
Cost of goods sold 36,764,858 12,511,391 142,618,200 30,033,382
Gross profit 7,566,096 3,034,791 30,529,782 7,646,930
Operating expenses:        
Selling, general and administrative 1,136,761 988,096 4,067,246 2,606,600
Research and development 1,199,525 834,478 3,329,649 2,754,414
Total operating expenses 2,336,286 1,822,574 7,396,895 5,361,014
Income from operations 5,229,810 1,212,217 23,132,887 2,285,916
Other income, net:        
Interest income 1,954 38,679 6,608 134,270
Income from governmental subsidy 40,929 0 107,362 4,114
Gain from the forgiveness of payroll protection plan loan 0 0 487,300 0
Other income (loss), net 116,382 42,000 (52,670) 68,378
Total other income (loss), net 159,265 80,679 548,600 206,762
Income before provision for income taxes 5,389,075 1,292,896 23,681,487 2,492,678
Income tax provision 1,192,277 233,032 5,331,417 408,892
Net income 4,196,798 1,059,864 18,350,070 2,083,786
Less: non-controlling interests in net income of subsidiary at 33.7% 0 0 0 189,106
Less: non-controlling interests in net income (loss) of subsidiary at 35.8% 258,245 71,556 634,546 71,556
Net income attributable to Parent Company $ 3,938,553 $ 988,308 $ 17,715,524 $ 1,823,124
Basic income per share attributable to Parent Company stockholders $ 0.34 $ 0.09 $ 1.57 $ 0.17
Diluted income per share attributable to Parent Company stockholders $ 0.33 $ 0.09 $ 1.54 $ 0.17
Weighted average common shares outstanding - basic 11,581,629 10,580,576 11,271,168 10,574,841
Weighted average common shares outstanding - diluted 11,792,292 10,699,773 11,481,830 10,694,038
Comprehensive income        
Net income $ 4,196,798 $ 1,059,864 $ 18,350,070 $ 2,083,786
Translation adjustments (20,255) (54,340) 264,265 (35,590)
Comprehensive income 4,176,543 1,005,524 18,614,335 2,048,196
Less: comprehensive income attributable to non-controlling interest 258,245 71,556 634,546 260,662
Comprehensive income attributable to controlling interest $ 3,918,298 $ 933,968 $ 17,979,789 $ 1,787,534