IT TECH PACKAGING, INC.ITP
| Dec 31,
2011 | Dec 31,
2018 | Dec 31,
2019 | Dec 31,
2020 | Dec 31,
2021 | Dec 31,
2022 |
|---|
| Cash and bank balances | - | 8 | 6 | 4 | 11 | 10 |
|---|
| Accounts receivable (net of allowance for doubtful accounts of $881,878 and $69,053 as of December 31, 2022 and December 31, 2021, respectively) | 4 | 3 | 3 | 2 | 5 | - |
|---|
| Inventories | 10 | 3 | 2 | 1 | 6 | 3 |
|---|
| Prepayments and other current assets | 5 | 6 | 12 | 7 | 26 | 27 |
|---|
| Due from related parties | - | - | 2 | 92,795 | 8 | 8 |
|---|
| Total current assets | 23 | 24 | 24 | 15 | 56 | 47 |
|---|
| Prepayment on property, plant and equipment | - | - | 1 | 21 | 43 | 1 |
|---|
| Operating lease right-of-use assets, net | - | - | - | - | - | 672,722 |
|---|
| Finance lease right-of-use assets, net | - | - | - | 2 | 2 | 2 |
|---|
| Property, plant, and equipment, net | 115 | 168 | 152 | 145 | 127 | 152 |
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| Value-added tax recoverable | - | 3 | 3 | 3 | 2 | 2 |
|---|
| Deferred tax asset non-current | - | - | - | 14 | 11 | - |
|---|
| Total Assets | 145 | 203 | 190 | 200 | 242 | 204 |
|---|
| Short-term bank loans | 3 | 12 | 6 | 6 | 6 | 6 |
|---|
| Current portion of long-term loans | - | 2 | 2 | 5 | 7 | 5 |
|---|
| Lease liability | - | - | - | 182,852 | 210,161 | 224,497 |
|---|
| Accounts payable | 3 | 629,054 | 250,486 | 592,391 | 10,255 | 5,025 |
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| Advance from customers | - | - | - | 82,625 | 39,694 | - |
|---|
| Due to related parties | 2 | 413,336 | 539,985 | 727,433 | 727,433 | 727,462 |
|---|
| Accrued payroll and employee benefits | 308,290 | 213,536 | 291,924 | 224,930 | 291,206 | 165,986 |
|---|
| Other payables and accrued liabilities | 2 | 10 | 7 | 5 | 5 | 6 |
|---|
| Income taxes payable | 2 | 219,305 | 1 | 259,649 | 1 | 417,906 |
|---|
| Total current liabilities | 12 | 30 | 17 | 18 | 20 | 18 |
|---|
| Long-term loans | - | - | 7 | 5 | 3 | 4 |
|---|
| Deferred gain on sale-leaseback | - | - | - | - | 155,110 | 52,314 |
|---|
| Lease liability - non-current | - | - | - | 354,107 | 152,233 | 579,997 |
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| Balance at December 31, 2021 | - | - | - | 1 | 2 | 646,283 |
|---|
| Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $16,784,878 and $17,924,475 as of December 31, 2022 and 2021, respectively) | 17 | 37 | 24 | 25 | 26 | 23 |
|---|
| Common stock, 50,000,000 shares authorized, $0.001 par value per share, 10,065,920 and 9,915,920 shares issued and outstanding as of December 31, 2022 and December, 31, 2021, respectively. | 18,350 | 22,360 | 22,685 | 28,536 | 99,050 | 10,066 |
|---|
| Additional paid-in capital | - | 51 | 51 | 54 | 89 | 89 |
|---|
| Statutory earnings reserve | 6 | 6 | 6 | 6 | 6 | 6 |
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| Accumulated other comprehensive (loss) income | 11 | -3,263,952 | -6,057,537 | 6 | 10 | -7,514,540 |
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| Retained earnings | 64 | 113 | 115 | 109 | 110 | 94 |
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| Total stockholders’ equity | 128 | 167 | 166 | 175 | 216 | 181 |
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| Total Liabilities and Stockholders’ Equity | 145 | 203 | 190 | 200 | 242 | 204 |
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