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Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Sales        
Net sales $ 52,254,463 $ 63,599,325 $ 110,209,269 $ 125,727,976
Cost of goods sold        
Cost of goods sold 40,010,238 45,097,113 81,495,404 88,282,480
Gross profit 12,244,225 18,502,212 28,713,865 37,445,496
Operating expenses        
Selling expenses 8,069,103 7,668,468 11,489,530 12,822,665
General and administrative expenses (99,632) 902,883 2,209,728 7,817,685
Total operating expenses 7,969,471 8,571,351 13,699,258 20,640,350
Income from operations 4,274,754 9,930,861 15,014,607 16,805,146
Other income (expense)        
Other income (expense) (187,753) (276,836) (226,083) (284,047)
Discontinued VIE operation - Zhenbai (330,966) (330,966)
Interest income 95,957 130,248 223,341 218,162
Interest expense (149,578) (94,587) (312,264) (274,162)
Total other income (expense) (241,374) (572,141) (315,006) (671,013)
Income before income taxes 4,033,380 9,358,720 14,699,601 16,134,133
Provision for income taxes 1,527,645 1,530,938 3,182,061 3,253,593
Net income from continuing operations, net of tax 2,505,735 7,827,782 11,517,540 12,880,540
Net income from discontinued operation, net of tax (1,676) 40,394
Net income, net of tax 2,505,735 7,826,107 11,517,540 12,920,934
Other comprehensive income (loss)        
Foreign currency translation gain (loss) (472,069) 8,256,738 (16,459,861) 8,496,956
Comprehensive income (loss) $ 2,033,666 $ 16,082,845 $ (4,942,321) $ 21,417,890
Basic weighted average shares outstanding 39,546,945 38,551,264 39,546,945 38,551,264
Basic net earnings per share from continuing operations $ 0.06 $ 0.2 $ 0.29 $ 0.33
Basic net earnings per share from discontinued operations $ 0 $ 0
Diluted weighted average shares outstanding 39,546,945 38,551,264 39,546,945 38,185,277
Diluted net earnings per share from continuing operations $ 0.06 $ 0.2 $ 0.29 $ 0.34
Diluted net earnings per share from discontinued operations $ 0 $ 0
Jinong        
Sales        
Net sales $ 16,987,360 $ 26,211,280 $ 39,483,893 $ 52,985,040
Cost of goods sold        
Cost of goods sold 8,994,882 13,265,827 20,198,054 26,378,583
Gufeng        
Sales        
Net sales 22,355,690 24,447,721 39,828,941 42,669,787
Cost of goods sold        
Cost of goods sold 19,764,817 21,160,024 35,069,680 37,146,453
Yuxing        
Sales        
Net sales 2,623,493 1,953,748 5,011,039 3,746,391
Cost of goods sold        
Cost of goods sold 2,166,566 1,536,238 4,213,729 2,928,791
VIEs - others        
Sales        
Net sales 10,287,920 10,986,576 25,885,396 26,326,758
Cost of goods sold        
Cost of goods sold $ 9,083,973 $ 9,135,024 $ 22,013,941 $ 21,828,653