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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]        
Net sales $ 6,687,287 $ 44,330,954 $ 11,852,936 $ 173,147,982
Cost of goods sold 5,327,957 36,764,858 9,636,662 142,618,200
Gross profit 1,359,330 7,566,096 2,216,274 30,529,782
Operating expenses:        
Selling, general and administrative 1,390,719 1,136,761 3,493,328 4,067,246
Research and development 1,050,180 1,199,525 3,179,221 3,329,649
Total operating expenses 2,440,899 2,336,286 6,672,549 7,396,895
(Loss) income from operations (1,081,569) 5,229,810 (4,456,275) 23,132,887
Other income, net:        
Interest income 1,745 1,954 5,555 6,608
Income from governmental subsidy 0 40,929 93,109 107,362
Gain from the forgiveness of payroll protection plan loan 0 0 0 487,300
Other income (loss), net 54,376 116,382 224,814 (52,670)
Total other income, net 56,121 159,265 323,478 548,600
(Loss) income before (benefit) provision for income taxes (1,025,448) 5,389,075 (4,132,797) 23,681,487
Income tax (benefit) provision (238,852) 1,192,277 (1,126,860) 5,331,417
Net (loss) income (786,596) 4,196,798 (3,005,937) 18,350,070
Less: non-controlling interests in net (loss) income of subsidiary at 33.7% (15,778) 258,245 54,083 634,546
Net (loss) income attributable to Parent Company $ (770,818) $ 3,938,553 $ (3,060,020) $ 17,715,524
Basic (loss) income per share attributable to Parent Company stockholders $ (0.07) $ 0.34 $ (0.26) $ 1.57
Diluted (loss) income per share attributable to Parent Company stockholders $ (0.07) $ 0.33 $ (0.26) $ 1.54
Weighted average common shares outstanding – basic 11,594,280 11,581,629 11,593,857 11,271,168
Weighted average common shares outstanding – diluted 11,594,280 11,792,292 11,593,857 11,481,830
Comprehensive (loss) income        
Translation adjustments $ (85,973) $ (20,255) $ (286,659) $ 264,265
Comprehensive (loss) income (872,569) 4,176,543 (3,292,596) 18,614,335
Less: comprehensive (loss) income attributable to non-controlling interest (15,778) 258,245 54,083 634,546
Comprehensive (loss) income attributable to controlling interest $ (856,791) $ 3,918,298 $ (3,346,679) $ 17,979,789