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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Jun. 30, 2020
Current Assets    
Cash and cash equivalents $ 9,826,386 $ 11,934,778
Accounts receivable, net 102,412,975 105,693,326
Inventories, net 90,830,515 98,921,081
Prepaid expenses and other current assets 4,104,630 3,567,912
Amount due from related parties 178,678 66
Advances to suppliers, net 34,409,623 65,081,818
Total Current Assets 241,762,807 285,198,981
Plant, property and equipment, net 23,330,179 22,928,334
Other assets 405,290 260,362
Other non-current assets 10,803,381 10,943,875
Intangible assets, net 16,653,569 15,751,625
Goodwill 7,617,568 7,045,006
Total Assets 300,572,794 342,128,183
Current Liabilities    
Accounts payable 17,527,362 17,719,093
Customer deposits 8,881,013 7,342,590
Accrued expenses and other payables 15,282,706 14,139,324
Amount due to related parties 4,345,258 4,212,407
Taxes payable 32,408,684 31,645,452
Short term loans 4,131,000 3,537,500
Interest payable 784,890 725,895
Total Current Liabilities 83,360,912 79,322,261
Total Liabilities 83,360,912 79,322,261
Stockholders’ Equity    
Preferred Stock, $.001 par value, 20,000,000 shares authorized, zero shares issued and outstanding
Common stock, $.001 par value, 115,197,165 shares authorized, 6,350,129 and 6,350,129 shares issued and outstanding as of December 31, 2020 and June 30, 2020, respectively 6,350 6,350
Additional paid-in capital 155,455,332 155,455,332
Statutory reserve 29,245,366 29,743,991
Retained earnings 41,373,386 111,864,338
Accumulated other comprehensive loss (8,868,553) (34,264,089)
Total Stockholders’ Equity 217,211,881 262,805,922
Total Liabilities and Stockholders’ Equity $ 300,572,794 $ 342,128,183