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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Jun. 30, 2021
Current Assets    
Cash and cash equivalents $ 51,436,395 $ 18,593,944
Accounts receivable, net 40,158,928 102,783,004
Inventories, net 51,565,520 64,315,903
Prepaid expenses and other current assets 19,184,756 8,093,808
Amount due from related parties 3,126 42,757
Advances to suppliers, net 37,877,927 23,884,772
Total Current Assets 200,226,652 217,714,188
Plant, property and equipment, net 20,488,830 22,221,016
Other assets 472,533 497,365
Other non-current assets 8,460,119 9,888,518
Intangible assets, net 15,798,974 16,407,651
Total Assets 245,447,108 266,728,738
Current Liabilities    
Accounts payable 1,858,302 16,868,942
Customer deposits 5,803,179 6,257,215
Accrued expenses and other payables 94,715,138 13,598,821
Amount due to related parties 5,238,700 4,976,689
Taxes payable 26,875,545 32,542,494
Short term loans 4,247,100 4,179,600
Interest payable 806,949 794,124
Total Current Liabilities 139,544,914 79,217,885
Total Liabilities 139,544,914 79,217,885
Stockholders’ Equity    
Preferred Stock, $.001 par value, 20,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2022 and June 30, 2021, respectively
Common stock, $.001 par value, 115,197,165 shares authorized, 8,487,629 and 8,487,629 shares issued and outstanding as of March 31, 2022 and June 30, 2021, respectively 8,488 8,488
Additional paid-in capital 170,223,195 170,223,195
Statutory reserve 26,010,243 27,673,245
Retained earnings (89,288,503) (5,812,533)
Accumulated other comprehensive income (loss) (1,051,228) (4,581,541)
Total Stockholders’ Equity 105,902,195 187,510,853
Total Liabilities and Stockholders’ Equity $ 245,447,108 $ 266,728,738