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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Jun. 30, 2020
Current Assets    
Cash and cash equivalents $ 5,075,588 $ 11,934,778
Accounts receivable, net 125,733,691 105,693,326
Inventories, net 64,017,955 98,921,081
Prepaid expenses and other current assets 4,562,443 3,567,912
Amount due from related parties 165,972 66
Advances to suppliers, net 33,347,498 65,081,818
Total Current Assets 232,903,147 285,198,981
Plant, property and equipment, net 22,647,933 22,928,334
Other assets 490,296 260,362
Other non-current assets 10,261,553 10,943,875
Intangible assets, net 16,429,712 15,751,625
Goodwill 7,597,653 7,045,006
Total Assets 290,330,294 342,128,183
Current Liabilities    
Accounts payable 22,234,276 17,719,093
Customer deposits 7,368,610 7,342,590
Accrued expenses and other payables 16,372,988 14,139,324
Amount due to related parties 4,342,376 4,212,407
Taxes payable 32,771,128 31,645,452
Short term loans 4,120,200 3,537,500
Interest payable 782,838 725,895
Total Current Liabilities 87,992,417 79,322,261
Total Liabilities 87,992,417 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 March 31, 2021 and June 30, 2020, respectively 6,350 6,350
Additional paid-in capital 155,455,332 155,455,332
Statutory reserve 28,808,244 29,743,991
Retained earnings 26,995,719 111,864,338
Accumulated other comprehensive loss (8,927,768) (34,264,089)
Total Stockholders’ Equity 202,337,877 262,805,922
Total Liabilities and Stockholders’ Equity $ 290,330,294 $ 342,128,183