0001213900-24-033796 | 10-K/A | XBRL Viewer | Greenland Technologies Holding Corp

Organization and Principal Activities (Tables)

12 Months Ended

Dec. 31, 2022

Organization and Principal Activities [Abstract]

Schedule of Subsidiary Included Consolidated Financial Statements

Details of the Company’s subsidiaries, which are included in these consolidated financial statements as of December 31, 2022, are as follows:

Name

Domicile
and Date of
Incorporation

Paid-in
Capital

Percentage of
Effective
Ownership

Principal Activities

Zhongchai Holding (Hong Kong) Limited

Hong Kong
April 23, 2009

HKD

10,000

100

Holding

Zhejiang Zhongchai Machinery Co., Ltd.

PRC
November 21, 2005

RMB

25,000,000

71.576

Manufacture, sale of various transmission boxes

Shanghai Hengyu Business Management Consulting Co., Ltd.

PRC
September 10, 2015

RMB

251,500,000

62.5

Investment management and consulting services

Hangzhou Greenland Energy Technologies Co., Ltd.

PRC
August 8, 2020

RMB

7,224,922

100

Trading

HEVI Corp.

Delaware
January 14, 2020

USD

6,363,557

100

U.S. operation and distribution of electric industrial vehicles for North American market

Hengyu Capital, Ltd

Hong Kong
August 16, 2022

HKD

10,000

62.5

Investment management and consulting services

Lease

12 Months Ended

Dec. 31, 2022

Disclosure Text Block [Abstract]

LEASE

NOTE 16 – LEASES

The Company leases its corporate offices and assembly site under operating leases, with initial terms of 3 years and 5.58 years, respectively. Usually within four months prior to the expiration date of a lease, the Company is required to notify the lessor and has a priority to continue renting the lease property if a lessor intends to lease property. The lease itself does not have restrictions or covenants. Any damage, if made by the lessee, to the property and equipment within the property has to been fixed or reimbursed by the lessee. Supplemental cash flow information related to leases for the year ended December 31, 2022 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	337,235
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		2,835,406

Supplemental balance sheet information related to leases as of December 31, 2022 is as follows:

Operating leases:
Operating lease right-of-use assets	$	2,627,110

Current portion of operating lease liabilities	$	472,182
Long-term operating lease liabilities		2,176,130
Total operating lease liabilities	$	2,648,312

The following table summarizes the maturity of lease liabilities under operating leases as of December 31, 2022:

For the years ending December 31,	Operating Leases
2023	$	593,781
2024		585,127
2025		589,272
2026		606,354
Thereafter		624,034
Total lease payments	$	2,998,568

Accounts Payable (Tables)

12 Months Ended

Dec. 31, 2022

Accounts Payable [Abstract]

Schedule of Accounts Payable

Accounts payable are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Procurement of Materials	$	24,541,774	$	28,076,580
Infrastructure & Equipment		207,587		870,616
Freight fee		67,804		116,936
Total	$	24,817,165	$	29,064,132

Earnings Per Share (Restated)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE (Restated)

NOTE 20 – EARNINGS PER SHARE (Restated)

The Company reports earnings per share in accordance with the provisions of the FASB’s related accounting standard. This standard requires presentation of basic and diluted earnings per share in conjunction with the disclosure of the methodology used in computing such earnings per share. Basic earnings per share excludes dilution, but includes vested restricted stocks and is computed by dividing income available to shareholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised and converted into ordinary shares. On October 24, 2019, the Company completed a reverse merger with Zhongchai Holding. The recapitalization of the number of ordinary shares attributable to the purchase of Zhongchai Holding in connection with the Business Combination is reflected retroactively to December 31, 2017 and will be utilized for calculating earnings per share in all prior periods presented.

The following is a reconciliation of the basic and diluted (loss) earnings per share computation:

	Year ended December 31,
	2022		2021
Net income attributable to the Greenland Technologies Holding Corporation and subsidiaries	$	745,553	$	6,265,578
Weighted average basic and diluted computation shares outstanding:
Weighted average shares used in basic computation		11,886,876		10,840,638
Diluted effect of stock options and warrants		—		—
Weighted average shares used in diluted computation		11,886,876		10,840,638
Basic and diluted net income per share	$	0.06	$	0.58

Concentration on Revenues and Cost of Goods Sold (Details) - Schedule of Concentration of Major Customers and Suppliers - Revenues [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue, Major Customer [Line Items]
Total Revenues	$ 28,417,108	$ 33,018,705
Customer percentage	31.28%	33.41%
Company A [Member]
Revenue, Major Customer [Line Items]
Total Revenues	$ 15,570,726	$ 18,252,003
Customer percentage	17.14%	18.47%
Company B [Member]
Revenue, Major Customer [Line Items]
Total Revenues	$ 12,846,382	$ 14,766,702
Customer percentage	14.14%	14.94%

Consolidated Statements of Share Holders’ Equity - USD ($)	Total	Ordinary Shares No Par Value	Additional Paid-in Capital	Accumulated Other Comprehensive Income/(loss)	Statutory Reserve	Retained Earnings	Non-Controlling Interest
Balance at Dec. 31, 2020	$ 50,661,462		$ 13,707,398	$ (62,925)	$ 4,517,117	$ 26,728,332	$ 5,771,540
Balance (in Shares) at Dec. 31, 2020		10,225,142
Restricted stock grant	66,200		66,200
Restricted stock grant (in Shares)		66,200
Sale of stock and warrants	8,209,897		8,209,897
Sale of stock and warrants (in Shares)		1,038,188
Debt of the cancelled company	1,775,869		1,775,869
Proceeds from NCI's Investment	5,386,307						5,386,307
Net income	7,268,221					6,265,578	1,002,643
Transfer to statutory reserve					(674,786)	674,786
Foreign currency translation adjustment	1,476,710			1,077,324			399,386
Balance at Dec. 31, 2021	74,844,666		23,759,364	1,014,399	3,842,331	33,668,696	12,559,876
Balance (in Shares) at Dec. 31, 2021		11,329,530
Sale of stock and warrants	6,527,196		6,527,196
Sale of stock and warrants (in Shares)		1,648,974
Proceeds from NCI's Investment
Net income	3,802,683					745,553	3,057,130
Foreign currency translation adjustment	(5,740,161)			(3,845,818)			(1,894,343)
Balance at Dec. 31, 2022	$ 79,434,384		$ 30,286,560	$ (2,831,419)	$ 3,842,331	$ 34,414,249	$ 13,722,663
Balance (in Shares) at Dec. 31, 2022		12,978,504

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,802,683	$ 7,268,221
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,436,114	2,511,996
Loss on disposal of property and equipment	1,511	(1,785)
Increase in allowance for doubtful accounts	(32,316)	(149,172)
Increase in provision for inventory	359,534	23,536
Change in fair value of the warrant liability	2,814,012
Deferred tax assets	(90,259)	20,398
Increase (Decrease) In:
Accounts receivable	406,963	(3,025,758)
Notes receivable	6,074,159	(5,945,558)
Inventories	400,982	(9,970,187)
Advance to suppliers	(11,187)	23,463
Other current and noncurrent assets	(7,795,981)	(1,424,031)
Increase (Decrease) In:
Accounts payable	(2,080,206)	6,461,841
Customer deposits	(133,803)	12,994
Other current liabilities	2,115,816	(867,079)
Income tax payables	94,634	106,887
Due to related parties	183,066	(405,732)
Long-term payables - unamortized deferred financing costs	(186,800)	(3,945)
Other long-term liabilities	(1,045,677)	(392,029)
NET CASH PROVIDED BY OPERATING ACTIVITIES	7,313,245	(5,755,940)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of Long-term assets	(525,128)	(897,385)
Proceeds from government grants for construction	808,821	255,405
Proceeds from sale of property, plant and equipment		3,570
Investment in a joint venture	(250,000)
NET CASH USED BY INVESTING ACTIVITES	33,693	(638,980)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term bank loans	11,697,621	8,666,025
Repayments of short-term bank loans	(10,786,753)	(18,724,388)
Notes payable	(10,847,677)	15,416,006
Proceeds from related parties	281,406	419,311
Repayment of loans from related parties	(2,159,416)	(4,045,048)
Repayment of loans from third parties	(1,481,087)	(310,443)
Proceeds from third parties		155,222
Payment of principal on financing lease obligation	(185,136)	(776,108)
Proceeds from equity and debt financing	9,196,563	8,209,897
Proceeds from NCI's Investment		5,386,307
Restricted stock grant		66,200
NET CASH PROVIDED/(USED) IN FINANCING ACTIVITES	(4,284,479)	14,462,981
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	3,062,459	8,068,061
Effect of exchange rate changes on cash	(1,134,295)	329,778
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR	17,800,892	9,403,053
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	19,729,056	17,800,892
Bank balances and cash	16,295,695	11,062,590
Bank balances and cash included in assets classified as restricted cash	3,433,361	6,738,302
Supplemental Disclosure of Cash Flow Information
Income taxes paid	695,315	1,631,703
Interest paid	$ 405,174	$ 637,967

Concentration on Revenues and Cost of Goods Sold (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable [Member]
Concentration on Revenues and Cost of Goods Sold (Details) [Line Items]
Concentration risk, percentage	40.72%	39.36%
Supplier Concentration Risk [Member]
Concentration on Revenues and Cost of Goods Sold (Details) [Line Items]
Concentration risk, percentage	10.00%	10.00%

Related Party Transactions (Restated) (Details) - Schedule of Due from Related Parties - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Due from related parties-current:
Due from related parties-current	$ 30,214,245	$ 39,679,565
Due from related parties-non current:
Due from related parties-non current	6,455,662
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) [Member]
Due from related parties-current:
Due from related parties-current	214,245	219,691
Cenntro Holding Limited [Member]
Due from related parties-current:
Due from related parties-current	30,000,000	39,459,874
Due from related parties-non current:
Due from related parties-non current	$ 6,455,662

Lease (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Member]

Schedule of Lease to the Property and Equipment

Supplemental cash flow information related to leases for the year ended December 31, 2022 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	337,235
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		2,835,406

Schedule of Supplemental Balance Sheet

Supplemental balance sheet information related to leases as of December 31, 2022 is as follows:

Operating leases:
Operating lease right-of-use assets	$	2,627,110

Current portion of operating lease liabilities	$	472,182
Long-term operating lease liabilities		2,176,130
Total operating lease liabilities	$	2,648,312

Schedule of Lease Liabilities under Operating Leases

The following table summarizes the maturity of lease liabilities under operating leases as of December 31, 2022:

For the years ending December 31,	Operating Leases
2023	$	593,781
2024		585,127
2025		589,272
2026		606,354
Thereafter		624,034
Total lease payments	$	2,998,568

Other Current Liabilities (Details) - Schedule of Other Current Liabilities - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Other Current Liabilities [Abstract]
Employee payables	$ 747,923	$ 946,678
Other tax payables	141,772	31,779
Other payable	88,403	44,283
Accrued expenses	569,292	175,687
Total	$ 1,547,390	$ 1,198,427

Short Term Bank Loans (Details)	12 Months Ended
Short Term Bank Loans (Details)	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Short term debt loan repayable duration	1 year
Average annual interest rate	4.10%	4.628%

Consolidated Statements of Income and Comprehensive Income (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Diluted	11,886,876	10,840,638
Diluted	$ 0.06	$ 0.58

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

Warrant Liability (Restated)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

WARRANT LIABILITY (Restated)

NOTE 18 – WARRANT LIABILITY (Restated)

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASBASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815. The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations.

In connection with the registered direct offering closed on July 27, 2022, the Company issued to an investor a warrant to purchase up to 4,530,000 ordinary shares at an exercise price of $4.49 per share. The warrant became exercisable on January 27, 2023 and will expire on January 26, 2028.

Upon evaluation, the warrants meet the definition of a derivative under FASB ASC 815, as the Company cannot avoid a net cash settlement under certain circumstances. The fair value of the warrant liabilities was measured using a Black–Scholes model. Significant inputs into the model as of the reporting period begin remeasurement dates, and as of the reporting period end remeasurement dates are as follows:

	Ordinary Share Warrants			Ordinary Share Warrants
	December 31, 2022			July 27, 2022

Share price	$	2.18		$	4.31
Exercise price	$	4.49		$	4.49
Annual dividend yield		-	%		-	%

Expected term (years)	2.57		3.00
Risk-free interest rate	4.3	%	2.9	%
Expected volatility	120.00	%	140.0	%

The warrants outstanding and fair values at each of the respective valuation dates are summarized below:

	As of
	December 31, 2022		December 31, 2022
Number of ordinary share warrants		4,530,000		-
Fair value of the warrants	$	5,483,379	$	-

The fair value of the warrants was classified as a liability of $2,669,367 as of July 27, 2022. For the year ended December 31, 2022, the Company recognized a loss of $2,814,012 for the investor warrant from the change in fair value of the warrant liability. As a result, the warrant liability is carried on the consolidated balance sheets at the fair value of $5,483,379 for the investor warrant, collectively, as of December 31, 2022.

Earnings Per Share (Restated) (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings per Share Computation

The following is a reconciliation of the basic and diluted (loss) earnings per share computation:

	Year ended December 31,
	2022		2021
Net income attributable to the Greenland Technologies Holding Corporation and subsidiaries	$	745,553	$	6,265,578
Weighted average basic and diluted computation shares outstanding:
Weighted average shares used in basic computation		11,886,876		10,840,638
Diluted effect of stock options and warrants		—		—
Weighted average shares used in diluted computation		11,886,876		10,840,638
Basic and diluted net income per share	$	0.06	$	0.58

Lease (Details) - Schedule of Supplemental Balance Sheet - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Operating leases:
Operating lease right-of-use assets	$ 2,627,110	$ 80,682
Current portion of operating lease liabilities	472,182	33,308
Long-term operating lease liabilities	2,176,130	$ 47,614
Total operating lease liabilities	$ 2,648,312

Concentration on Revenues and Cost of Goods Sold (Details) - Schedule of Major Customers of Accounts Receivable - Accounts Receivable [Member] - Customer Concentration Risk [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Concentration on Revenues and Cost of Goods Sold (Details) - Schedule of Major Customers of Accounts Receivable [Line Items]
Accounts receivable, net	$ 5,836,984	$ 6,263,705
Percentage of revenues	40.72%	39.36%
Company A [Member]
Concentration on Revenues and Cost of Goods Sold (Details) - Schedule of Major Customers of Accounts Receivable [Line Items]
Accounts receivable, net	$ 2,266,095	$ 2,157,638
Percentage of revenues	15.81%	13.56%
Company B [Member]
Concentration on Revenues and Cost of Goods Sold (Details) - Schedule of Major Customers of Accounts Receivable [Line Items]
Accounts receivable, net	$ 2,140,591	$ 2,148,131
Percentage of revenues	14.93%	13.50%
Company C [Member]
Concentration on Revenues and Cost of Goods Sold (Details) - Schedule of Major Customers of Accounts Receivable [Line Items]
Accounts receivable, net	$ 1,430,298	$ 1,957,936
Percentage of revenues	9.98%	12.30%

Notes Payable (Details) - USD ($) $ in Thousands	12 Months Ended
Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Notes Payable (Details) [Line Items]
Restricted cash	$ 3,430	$ 6,740
Notes receivable	15,510	28,140
Land use rights	$ 3,640	$ 4,040
Percentage of bank charges	0.05%
Minimum [Member]
Notes Payable (Details) [Line Items]
Interest-free notes payable, term	6 months
Maximum [Member]
Notes Payable (Details) [Line Items]
Interest-free notes payable, term	1 year

Land Use Rights

12 Months Ended

Dec. 31, 2022

Land Use Rights Abstract

LAND USE RIGHTS

NOTE 10 – LAND USE RIGHTS

Land use rights consisted of the following:

	As of
	December 31, 2022			December 31, 2021
Land use rights, cost	$	4,460,738		$	4,827,951
Less: Accumulated amortization		(821,671	)		(792,753	)
Land use rights, net	$	3,639,067		$	4,035,198

As of December 31, 2022, the Company had land use rights with net book value of $3.64 million, which were pledged as collateral for the Company’s short-term bank loans. As of December 31, 2021, the Company had land use rights with net book value of $4.04 million, which were pledged as collateral for the Company’s short-term bank loans.

Estimated future amortization expense is as follows as of December 31, 2022:

Years ending December 31,	Amortization expense
2023	$	91,136
2024		91,136
2025		91,136
2026		91,136
2027		91,136
Thereafter		3,183,387
Total	$	3,639,067

Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Other Current Liabilities [Abstract]

Schedule of Other Current Liabilities

Other current liabilities are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Employee payables		747,923		946,678
Other tax payables		141,772		31,779
Other payable		88,403		44,283
Accrued expenses		569,292		175,687
Total	$	1,547,390	$	1,198,427

Subsequent Events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 25 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date that the financial statements were available to be issued, which is March 31, 2023. All subsequent events requiring recognition as of December 31, 2022 have been incorporated into these financial statements and there are no other subsequent events that require disclosure in accordance with FASB ASC Topic 855.

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances between the Company and its subsidiaries are eliminated upon consolidation.

Principles of Consolidation

Principles of Consolidation

The consolidated financial statements include the accounts of Greenland Technologies Holding Corporation and its subsidiaries and have been prepared in accordance with U.S. GAAP. Intercompany accounts and transactions have been eliminated upon consolidation. Certain reclassifications to previously reported financial information have been made to conform to the current period presentation.

The Business Combination was accounted for as a reverse recapitalization (the “Recapitalization Transaction”) in accordance with Accounting Standard Codification (“ASC”) 805, Business Combinations. For accounting and financial reporting purposes, Zhongchai Holding is considered the acquirer based on facts and circumstances, including the following:

●

Zhongchai Holding’s operations comprise the ongoing operations of the combined entity;

●

The officers of the newly combined company consist of Zhongchai Holding’s executives, including the Chief Executive Officer, Chief Financial Officer and General Counsel; and

●

The former shareholders of Zhongchai Holding own a majority voting interest in the combined entity.

As a result of Zhongchai Holding being the accounting acquirer, the financial reports filed with the SEC by the Company subsequent to the Business Combination are prepared “as if” Zhongchai Holding is the predecessor and legal successor to the Company. The historical operations of Zhongchai Holding are deemed to be those of the Company. Thus, the financial statements included in this report reflect (i) the historical operating results of Zhongchai Holding prior to the Business Combination; (ii) the combined results of the Company and Zhongchai Holding following the Business Combination in October 24, 2019; (iii) the assets and liabilities of Zhongchai Holding at their historical cost, and (iv) Greenland’s equity structure for all periods presented. Zhongchai Holding received 7,500,000 shares of Greenland in exchange for all the share capital, which is reflected retroactively to December 31, 2017 and will be utilized for calculating earnings per share in all prior periods. No step-up basis of intangible assets or goodwill was recorded in the Business Combination transaction consistent with the treatment of the transaction as a reverse capitalization of Zhongchai Holding.

Use of Estimates

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. Actual results could differ from those estimates. Significant estimates in the years ended December 31, 2022 and 2021 include allowance for doubtful accounts, reserve for inventories, useful life of property, plant and equipment, assumptions used in assessing impairment of long-term assets and valuation of deferred tax assets and accruals for taxes due.

Non-controlling Interest

Non-controlling Interest

Non-controlling interests in the Company’s subsidiaries are recorded in accordance with the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 810 Consolidation (“ASC 810”) and are reported as a component of equity, separate from the parent’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the non-controlling interest are included in our consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.

Foreign Currency Translation

Foreign Currency Translation

The accompanying consolidated financial statements are presented in United States dollars (“US$” or “$”). The functional currency of the Company is Renminbi (“RMB”). Transactions in foreign currencies are initially recorded at the functional currency rate then in effect at the date of the transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations.

	For the years ended December 31,
	2022		2021
Period end RMB: US$ exchange rate		6.8972		6.3726
Period average RMB: US$ exchange rate		6.7518		6.4424

The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations.

Cash and Cash Equivalents

Cash and Cash Equivalents

For financial reporting purposes, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains its bank accounts in the U.S., the PRC and Hong Kong. Balances at financial institutions or state-owned banks within the PRC and Hong Kong are not covered by insurance.

Restricted Cash

Restricted Cash

Restricted cash represents amounts held by a bank as security for bank acceptance bills, as well as the financial product secured for the short-term bank loan and therefore is not available for the Company’s use until such time as the bank acceptance notes and bank loans have been fulfilled or expired, normally within a twelve-month period.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company applies the provisions of ASC 820, Fair Value Measurements and Disclosures, to the financial instruments that are required to be carried at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company uses a three-tier fair value hierarchy based upon observable and non-observable inputs that prioritizes the information used to develop our assumptions regarding fair value. Fair value measurements are separately disclosed by level within the fair value hierarchy.

●

Level 1—defined as observable inputs such as quoted prices in active markets for identical assets or liabilities;

●

Level 2—defined as inputs other than quoted prices in active markets, that are either directly or indirectly observable; and

●

Level 3—defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The Company’s financial assets and liabilities, which include financial instruments as defined by FASB ASC 820, include cash, cash equivalents and restricted cash, short term investment, accounts receivable, notes receivables, due from related party, fixed deposit, short term bank loans, accounts payable, other payable, notes payable and warrant liability. As of December 31, 2022 and 2021, the carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, notes receivables, notes payables, and accounts payable are approximation their fair value due to the short-term nature.

The carrying value of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and other current assets and liabilities approximate fair value because of the short-term nature of these items. The estimated fair values of short-term bank loans were not materially different from their carrying value as presented due to the short maturities and that the interest rates on the borrowing approximate those that would have been available for loans of similar remaining maturity and risk profile. As the carrying amounts are reasonable estimates of the fair value, these financial instruments are classified within Level 1 of the fair value hierarchy.

Accounts Receivable

Accounts Receivable

Accounts receivable are carried at net realizable value. The Company reviews its accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including the age of the balance, customer’s historical payment history, its current creditworthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. The Company only grants credit terms to established customers who are deemed to be financially responsible. Credit periods to customers are within 60 days after customers received the purchased goods. If accounts receivable are to be provided for, or written off, they would be recognized in the consolidated statement of operations within operating expenses. Balance of allowance of doubtful accounts was $0.76 million and $0.86 million as of December 31, 2022 and December 31, 2021, respectively.

Inventories

Inventories

Inventories are stated at the lower of cost or net realizable value, which is based on estimated selling prices less any further costs expected to be incurred for completion and disposal. Cost of raw materials is calculated using the weighted average method and is based on purchase cost. Work-in-progress and finished goods costs are determined using the weighted average method and comprise direct materials, direct labor and an appropriate proportion of overhead. The Company records inventory reserves for excess or obsolete inventories based upon assumptions about its current and future demand forecasts.

Advance to Suppliers

Advance to Suppliers

Advance to suppliers represents interest-free cash paid in advance to suppliers for purchases of parts and/or raw materials. The balance of advance to suppliers was $0.41 million and $0.43 million as of December 31, 2022 and 2021, respectively.

Property, Plant, and Equipment

Property, Plant, and Equipment

Property, plant, and equipment are stated at cost less accumulated depreciation, and include expenditure that substantially increases the useful lives of existing assets. Expenditures for repairs and maintenance, which do not extend the useful life of the assets, are expensed as incurred.

Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives are as follows:

Plant, buildings and improvements			20 years
Machinery and equipment			2~10 years
Motor vehicles			4 years
Office equipment			3~5 years
Fixed assets decoration			5 years

When assets are sold or retired, their costs and accumulated depreciation are eliminated from the consolidated financial statements and any gain or loss resulting from their disposal is recognized in the period of disposition as an element of other income. The cost of maintenance and repairs is charged to income as incurred, whereas significant renewals and betterments are capitalized.

Land Use Rights

Land Use Rights

According to the PRC laws, the government owns all the land in the PRC. Companies or individuals are authorized to possess and use the land only through land use rights granted by the Chinese government. The land use rights granted to the Company are being amortized using the straight-line method over the lease term of fifty years.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Long-lived assets are evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying amounts may not be recoverable in accordance with FASB ASC 360, “Property, Plant and Equipment”.

In evaluating long-lived assets for recoverability, the Company uses its best estimate of future cash flows expected to result from the use of the asset and eventual disposition in accordance with FASB ASC 360-10-15. To the extent that estimated future, undiscounted cash inflows attributable to the asset, less estimated future, undiscounted cash outflows, are less than the carrying amount, an impairment loss is recognized in an amount equal to the difference between the carrying value of such asset and its fair value. Assets to be disposed of and for which there is a committed plan of disposal, whether through sale or abandonment, are reported at the lower of carrying value or fair value less costs to sell. There was no impairment loss recognized for the years ended December 31, 2022 and 2021.

Lease

Lease

ASC 842 supersedes the lease requirements in ASC 840 “Leases,” and generally requires lessees to recognize operating and finance lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. Leases that transfer substantially all of the benefits and risks incidental to the ownership of assets are accounted for as finance leases as if there was an acquisition of an asset and incurrence of an obligation at the inception of the lease. All other leases are accounted for as operating leases.

A sale-leaseback transaction occurs when an entity sells an asset it owns and immediately leases the asset back from the buyer. The seller then becomes the lessee and the buyer becomes the lessor. Under ASC 842, both parties must assess whether the buyer-lessor has obtained control of the asset and a sale has occurred.

The Company has determined that the leaseback transaction that it entered in 2019 fails to qualify as a sale because control is not transferred to the buyer-lessor. Therefore, the Company has classified the lease portion of the transaction as a finance lease whereby the Company continues to depreciate the assets and recorded a financing obligation for the consideration received from the buyer-lessor, with an implicit interest rate of 5.0%.

The Company has leased premises for its offices under non-cancellable operating leases since May 2021 and its assembly site under non-cancellable operating leases since June 2022. Operating lease payments are expensed over the term of lease using straight line method. The Company’s office leases have a 3-year term and the lease of its assembly site has a 5.5-year term. Usually within four months prior to the expiration date of a lease, the Company is required to notify the lessor and has a priority to continue renting the lease property if a lessor intends to lease property. The lease itself does not have restrictions or covenants. Any damage, if made by the lessee, to the property and equipment within the property has to been fixed or reimbursed by the lessee. The Company does not have any leases entered into that have not yet commenced. Under the terms of the lease agreements, the Company has no legal or contractual asset retirement obligations at the end of the leases.

Revenue Recognition

Revenue Recognition

In accordance with ASC Topic 606, “Revenue from Contracts with Customers,” the Company recognizes revenues when goods or services are transferred to customers in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. In determining when and how revenues are recognized from contracts with customers, the Company performs the following five-step analysis: (i) identification of contract with customer; (ii) determination of performance obligations; (iii) measurement of the transaction price; (iv) allocation of the transaction price to the performance obligations and (v) recognition of revenues when (or as) the Company satisfies each performance obligation. The Company derives revenues from the processing, distribution and sale of its products. The Company recognizes its revenues net of value-added taxes (“VAT”). The Company is subject to VAT which had been levied at the rate of 17% on the invoiced value of sales until April 30, 2018, after which date the rate was reduced to 16%. VAT rate was further reduced to 13% starting from April 1, 2019. Output VAT is borne by customers in addition to the invoiced value of sales and input VAT is borne by the Company in addition to the invoiced value of purchases to the extent not refunded for export sales.

Revenues are recognized at a point in time once the Company has determined that the customer has obtained control over the product. Control is typically deemed to have been transferred to the customer when the performance obligation is fulfilled, usually at the time of customers’ acceptance or consumption, at the net sales price (transaction price) and each of the criteria under ASC 606 have been met. Contract terms may require the Company to deliver the finished goods to the customers’ location or the customer may pick up the finished goods at the Company’s factory. International sales are recognized when shipment clears customs and leaves the port.

The Company adopted ASC 606 on January 1, 2018, using the transition method of Modified-Retrospective Method (“MRM”). The adoption of ASC 606 had no impact on the Company’s beginning balance of retained earnings.

The Company’s contracts are all short-term in nature with a contract term of one year or less. Receivables are recorded when the Company has an unconditional right to consideration.

Contracts do not offer any price protection but allow for the return of certain goods if quality problem, which is standard warranty. The Company’s product returns and recorded reserve for sales returns were minimal for the years ended December 31, 2022 and 2021. The total sales return and warranty expenditures amount are accounting for around 0.00% and 1.01% of the total revenue of Greenland for the years ended December 31, 2022.

The following table sets forth disaggregation of revenue:

	For the years ended December 31,
	2022		2021
Major Product
Transmission boxes for Forklift	$	80,220,000	$	85,618,567
Transmission boxes for Non-Forklift (EV, etc.)		10,610,674		13,221,333
Total	$	90,830,674	$	98,839,900

Cost of Goods Sold

Cost of Goods Sold

Cost of goods sold consists primarily of material costs, freight charges, purchasing and receiving costs, inspection costs, internal transfer costs, wages, employee compensation, amortization, depreciation and related costs, which are directly attributable to the production of products. Write-down of inventory to lower of cost or net realizable value is also recorded in cost of goods sold.

Selling Expenses

Selling Expenses

Selling expenses include operating expenses such as payroll and traveling and transportation expenses.

General and Administrative Expenses

General and Administrative Expenses

General and administrative expenses include management and office salaries and employee benefits, depreciation for office facility and office equipment, travel and entertainment, legal and accounting, consulting fees and other office expenses.

Research and Development

Research and Development

Research and development costs are expensed as incurred and totaled approximately $5,786,946 and $5,526,546 for the years ended December 31, 2022 and 2021, respectively. Research and development costs are incurred on a project specific basis.

Government subsidies

Government Subsidies

Government subsidies are recognized when there is reasonable assurance that the subsidy will be received and all attaching conditions will be complied with. When the subsidy relates to an expense item, it is recognized as income over the periods necessary to match the subsidy on a systematic basis to the costs that it is intended to compensate. Where the subsidy relates to an asset, it is recognized as other long-term liabilities and is released to the statement of operations over the expected useful life in a consistent manner with the depreciation method for the relevant asset. Total government subsidies recorded in the other long-term liabilities were $1.81 million and $2.21 million as of December 31, 2022 and 2021, respectively.

Income Taxes

Income Taxes

The Company accounts for income taxes following the liability method pursuant to FASB ASC 740 “Income Taxes”. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if, based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rate is recognized in income in the period that includes the enactment date.

The Company also follows FASB ASC 740, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. As of December 31, 2022 and 2021, the Company did not have a liability for unrecognized tax benefits. It is the Company’s policy to include penalties and interest expense related to income taxes as a component of other expense and interest expense, respectively, as necessary. The Company’s historical tax years will remain open for examination by the local authorities until the statute of limitations has passed.

Value-Added Tax

Value-Added Tax

Enterprises or individuals, who sell commodities, engage in repair and maintenance or import or export goods in the PRC are subject to a value added tax in accordance with PRC Laws. The VAT standard rate had been 17% of the gross sale price until April 30, 2018, after which date the rate was reduced to 16%. VAT rate was further reduced to 13% starting from April 1, 2019. A credit is available whereby VAT paid on the purchases of semi-finished products or raw materials used in the production of the Company’s finished products can be used to offset the VAT due on the sales of the finished products.

Statutory Reserve

Statutory Reserve

In accordance with the PRC Regulations on Enterprises with Foreign Investment, an enterprise established in the PRC with foreign investment is required to provide for certain statutory reserves, namely (i) a General Reserve Fund, (ii) a Enterprise Expansion Fund and (iii) a Staff Welfare and Bonus Fund, which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A wholly-owned foreign enterprise is required to allocate at least 10% of its annual after-tax profit to the General Reserve Fund until the balance of such fund has reached 50% of its respective registered capital. A non-wholly-owned foreign invested enterprise is permitted to provide for the above allocation at the discretion of its board of directors. Appropriations to the Enterprise Expansion Fund and Staff Welfare and Bonus Fund are at the discretion of the board of directors for all foreign invested enterprises. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends.

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity during the year from transactions and other events, excluding the changes resulting from investments by owners and distributions to owners, and is not included in the computation of income tax expense or benefit. Accumulated comprehensive income consists of foreign currency translation. The Company presents comprehensive income (loss) in accordance with ASC Topic 220, “Comprehensive Income”.

Earnings per share

Earnings per share

The Company calculates earnings per share in accordance with ASC Topic 260 “Earnings per Share.” Basic earnings per share is computed by dividing the net income by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional ordinary shares that would have been outstanding if the potential ordinary shares equivalents had been issued and if the additional ordinary shares were dilutive. On October 24, 2019, the Company completed its Business Combination whereby Zhongchai Holding received 7,500,000 shares in exchange for all the share capital of Zhongchai Holding, which is reflected retroactively to December 31, 2017 and will be utilized for calculating earnings per share in all prior periods. The per share amounts have been updated to show the effect of the exchange on earnings per share as if the exchange occurred at the beginning of both years for the annual financial statements of the Company. The impact of the stock exchange is also shown on the Company’s Statements of Shareholders’ Equity.

Warrants (Restated)

Warrants (Restated)

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

Segments and Related Information

Segments and Related Information

ASC 280 “Segment reporting” establishes standards for reporting information on operating segments in interim and annual financial statements. All of the Company’s operations are considered by the chief operating decision maker to be aggregated in one reportable operating segment.

The Company is engaged in the business of manufacturing and selling various transmission boxes. The Company’s manufacturing process is essentially the same for the entire Company and is performed in-house at the Company’s facilities in the PRC. The Company’s customers primarily consist of entities in the automotive, construction machinery or warehousing equipment industries. The distribution of the Company’s products is consistent across the entire Company. In addition, the economic characteristics of each customer arrangement are similar in that the Company maintains policies at the corporate level.

Commitments and contingencies

Commitments and contingencies

In the normal course of business, the Company is subject to contingencies, including legal proceedings and environmental claims arising out of the normal course of businesses that relate to a wide range of matters, including among others, contracts breach liability. The Company records accruals for such contingencies based upon the assessment of the probability of occurrence and, where determinable, an estimate of the liability. Management may consider many factors in making these assessments including past history, scientific evidence and the specifics of each matter. The Company’s management has evaluated all such proceedings and claims that existed as of December 31, 2022 and 2021. Normal course of businesses that relate to a wide range of matters, including among others, contracts breach liability. The Company records accruals for such contingencies based upon the assessment of the probability of occurrence and, where determinable, an estimate of the liability. Management may consider many factors in making these assessments including past history, scientific evidence and the specifics of each matter. The Company’s management has evaluated all such proceedings and claims that existed as of December 31, 2022 and 2021.

Related Party

Related Party

In general, related parties exist when there is a relationship that offers the potential for transactions at less than arm’s-length, favorable treatment, or the ability to influence the outcome of events different from that which might result in the absence of that relationship. A related party may be any of the following: a) an affiliate, which is a party that directly or indirectly controls, is controlled by, or is under common control with another party; b) a principle owner, owner of record or known beneficial owner of more than 10% of the voting interest of an entity; c) management, which are persons having responsibility for achieving objectives of the entity and requisite authority to make decision; d) immediate family of management or principal owners; e) a parent company and its subsidiaries; and f) other parties that have ability to significant influence the management or operating policies of the entity. The Company discloses all significant related party transactions.

Economic and Political Risks

Economic and Political Risks

A significant portion of the Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC economy.

The Company’s operations in the PRC are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation, among other things.

Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. The Company’s cash is maintained with banks within the U.S., the PRC and Hong Kong, and none of these deposits are covered by insurance. The Company has not experienced any losses in such accounts. A portion of the Company’s sales are credit sales which are primarily to customers whose abilities to pay are dependent upon the industry economics prevailing in these areas; however, concentrations of credit risk with respect to trade accounts receivables is limited due to generally short payment terms. The Company also performs ongoing credit evaluations of its customers to help further reduce credit risk.

Exchange Risk

Exchange Risk

The Company cannot guarantee that the current exchange rate will remain steady. Therefore, there is a possibility that the Company could post the same amount of profit for two comparable periods and yet, because of the fluctuating exchange rate, record higher or lower profit depending on exchange rate of RMB converted to U.S. dollars on the relevant dates. The exchange rate could fluctuate depending on changes in the political and economic environment without notice.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Recent accounting pronouncements that the Company has adopted or may be required to adopt in the future are summarized below:

In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” to require financial assets carried at amortized cost to be presented at the net amount expected to be collected based on historical experience, current conditions and forecasts. Subsequently, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, in April 2019. To clarify that receivables arising from operating leases are within the scope of lease accounting standards. In October 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842), which defers the effective date for public filers that are considered small reporting companies as defined by the Securities and Exchange Commission to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Since the Company is a smaller reporting company, implementation is not needed until January 1, 2023. Adoption of the standard requires using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align existing credit loss methodology with the new standard. The Company is evaluating the impact of this standard on its consolidated financial statements, including accounting policies, processes, and systems, and expects the standard will have a minor impact on its consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-04 (Topic 350) Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment, which removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Under the amended guidance, a goodwill impairment charge will now be recognized for the amount by which the carrying value of a reporting unit exceeds its fair value, not to exceed the carrying amount of goodwill. As amended by ASU 2019-10, this ASU will be applied on a prospective basis and is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted for any impairment tests performed after January 1, 2017. The Company is evaluating the impact of the application of this standard and does not expect that the adoption of the ASU 2017-04 will have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-13 Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates, adds, and modifies certain disclosure requirements for fair value measurements under ASC 820. This ASU is to be applied on a prospective basis for certain modified or new disclosure requirements, and all other amendments in the standard are to be applied on a retrospective basis. The new standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. The Company adopted Topic 820 on January 1, 2020. The adoption of the ASU 2018-13 did not have a material impact on the Company’s consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes” (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 will simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company does not expect that the requirements of ASU 2019-12 will have a material impact on its consolidated financial statements.

Short Term Investment (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)
Short Term Investment Details [Abstract]
Short term investment	$ 7,800,723		$ 2,105,938
Contributed total	500,000
Purchased bank management products total amount	7,405,433	¥ 50,000,000
Debt instrument fair value	469,480	¥ 50,565,049
Zhejiang Jilin Electronic Technology Co [Member]
Short Term Investment Details [Abstract]
Debt instrument fair value	$ 7,331,243

Summary of Significant Accounting Policies (Details) - Schedule of Sets Forth Disaggregation of Revenue - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Major Product
Major Product	$ 90,830,674	$ 98,839,900
Transmission boxes for Forklift [Member]
Major Product
Major Product	80,220,000	85,618,567
Transmission boxes for Non-Forklift (EV, etc.) [Member]
Major Product
Major Product	$ 10,610,674	$ 13,221,333

Restatement of Previously Issued Financial Statements (Details) - Schedule of Restatement on the Balance Sheet	Dec. 31, 2022 USD ($)
Previously Reported [Member]
Current assets
Due from related parties-current	$ 36,669,907
Total Current Assets	132,364,160
Non-current asset
Due from related parties-non current
Total non-current assets	22,751,181
Long-term liabilities
Warrant liability
Total long-term liabilities	3,988,889
TOTAL LIABILITIES	70,197,578
EQUITY
Additional paid-in capital	32,955,927
Retained earnings	37,228,261
Total shareholders’ equity	71,195,100
TOTAL EQUITY	84,917,763
Revision of Prior Period, Adjustment [Member]
Current assets
Due from related parties-current	(6,455,662)
Total Current Assets	(6,455,662)
Non-current asset
Due from related parties-non current	6,455,662
Total non-current assets	6,455,662
Long-term liabilities
Warrant liability	5,483,379
Total long-term liabilities	5,483,379
TOTAL LIABILITIES	5,483,379
EQUITY
Additional paid-in capital	(2,669,367)
Retained earnings	(2,814,012)
Total shareholders’ equity	(5,483,379)
TOTAL EQUITY	(5,483,379)
As Restated [Member]
Current assets
Due from related parties-current	30,214,245
Total Current Assets	125,908,498
Non-current asset
Due from related parties-non current	6,455,662
Total non-current assets	29,206,843
Long-term liabilities
Warrant liability	5,483,379
Total long-term liabilities	9,472,268
TOTAL LIABILITIES	75,680,957
EQUITY
Additional paid-in capital	30,286,560
Retained earnings	34,414,249
Total shareholders’ equity	65,711,721
TOTAL EQUITY	$ 79,434,384

Commitments and Contingencies (Details) ¥ in Thousands	1 Months Ended				12 Months Ended
Commitments and Contingencies (Details) ¥ in Thousands	Jun. 27, 2022	Jan. 25, 2021 USD ($)	Dec. 23, 2020	Sep. 21, 2020	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Commitments and Contingencies (Details) [Line Items]
Paid in total (in Dollars) \| $		$ 65,000
Agricultural Bank of PRC Co., Ltd. Xinchang [Member]
Commitments and Contingencies (Details) [Line Items]
Loan facility, description			Zhejiang Zhongchai signed a Maximum Amount Pledge Contract with Agricultural Bank of PRC Co., Ltd. Xinchang County Sub-Branch (“ABC Xinchang”), pledging its land use rights and property ownership as security to ABC Xinchang, for a loan facility with a maximum principal amount of RMB69.77 million during the period from November 17, 2020 to November 16, 2023.	Zhejiang Zhongchai signed a Maximum Amount Pledge Contract with Rural Commercial Bank of PRC Co., Ltd., pledging its land use rights and property ownership as security, for a loan facility with a maximum principal amount of RMB37.95 million during the period from September 21, 2020 to September 20, 2026.
Outstanding amount of short-term bank loan under pledge contract					¥ 18,000	¥ 18,830
Rural Commercial Bank of PRC Co., Ltd. [Member]
Commitments and Contingencies (Details) [Line Items]
Loan facility, description	LTD., pledging its land use rights and property ownership as security, for a loan facility with a maximum principal amount of RMB60.01 million during the period from June 27, 2022 to June 26, 2027.
Outstanding amount of short-term bank loan under pledge contract					17,000	25,000
Rural Commercial Bank of PRC Co., Ltd. One [Member]
Commitments and Contingencies (Details) [Line Items]
Loan facility, description	Zhejiang Zhongchai signed a Maximum Amount Pledge Contract with Bank of Communications Co.
Agricultural Bank of PRC Co., Ltd. Xinchang One [Member]
Commitments and Contingencies (Details) [Line Items]
Outstanding amount of short-term bank loan under pledge contract					¥ 10,000	¥ 0

Other Long-Term Liabilities (Details) - Schedule of Other Long-Term Liabilities - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of other long-term liabilities [Abstract]
Subsidy	$ 1,812,759	$ 2,212,938
Total	$ 1,812,759	$ 2,212,938

Other Long-Term Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Other Long-Term Liabilities [Abstract]

Schedule of Other Long-Term Liabilities

Other long-term liabilities are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Subsidy		1,812,759		2,212,938
Total	$	1,812,759	$	2,212,938

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Non-Cancellable Future Minimum Lease Payments

The following are the aggregate non-cancellable future minimum lease payments under operating and financing leases as of December 31, 2022:

For the years ending December 31,	Operating Leases
2023	$	593,781
2024		585,127
2025		589,272
2026		606,354
Thereafter		624,034
Total lease payments	$	2,998,568

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2022

Notes Payable (Tables) [Line Items]

Schedule of Notes Payable

	As of
	December 31, 2022		December 31, 2021
Bank acceptance notes	$	28,272,472	$	42,093,061
Total	$	28,272,472	$	42,093,061

Related Party Transactions (Restated) (Details) - Schedule of Related Party Funds Lending - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Zhejiang Zhonggong Machinery Co., Ltd. [Member]
Withdraw funds from related parties:
Withdraw funds from related parties		$ 77,611
Deposit funds with related parties:
Deposit funds with related parties	394,892	139,699
Cenntro Holding Limited [Member]
Withdraw funds from related parties:
Withdraw funds from related parties		251,973
Deposit funds with related parties:
Deposit funds with related parties		250,000
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) [Member]
Withdraw funds from related parties:
Withdraw funds from related parties	207,352	35,080
Deposit funds with related parties:
Deposit funds with related parties	209,383	677,697
Peter Zuguang Wang [Member]
Withdraw funds from related parties:
Withdraw funds from related parties		25,000
Deposit funds with related parties:
Deposit funds with related parties		25,000
Cenntro Smart Manufacturing Tech. Co., Ltd. [Member]
Withdraw funds from related parties:
Withdraw funds from related parties	74,054	29,647
Deposit funds with related parties:
Deposit funds with related parties	74,054	36,632
Xinchang County Jiuxin Investment Management Partnership (LP) [Member]
Deposit funds with related parties:
Deposit funds with related parties	1,481,087	2,851,515
Zhejiang Kangchen Biotechnology Co., Ltd. [Member]
Deposit funds with related parties:
Deposit funds with related parties		$ 64,505

Long Term Payables (Details) ¥ in Thousands, $ in Thousands			1 Months Ended
Long Term Payables (Details) ¥ in Thousands, $ in Thousands	Jan. 03, 2019 USD ($)	Jan. 03, 2019 CNY (¥)	May 27, 2020 USD ($)	May 27, 2020 CNY (¥)	Apr. 26, 2019 USD ($)	Apr. 26, 2019 CNY (¥)
Debt Disclosure [Abstract]
Aggregate proceeds	$ 3,080	¥ 21,250	$ 1,420	¥ 10,000	$ 2,120	¥ 14,660
Initial term	3 years	3 years	2 years	2 years	2 years	2 years

Long Term Payables (Details) - Schedule of Long Term Payables - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Long Term Payables [Abstract]
Long-term payables current portion		$ 197,915
Long-term payables– non-current portion
Total		$ 197,915

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Geographical Sales and Segments

12 Months Ended

Dec. 31, 2022

Geographical Sales and Segments [Abstract]

GEOGRAPHICAL SALES AND SEGMENTS

NOTE 21 – GEOGRAPHICAL SALES AND SEGMENTS

All of the Company’s operations are considered by the chief operating decision maker to be aggregated in one reportable operating segment.

Information for the Company’s sales by geographical area for the years ended December 31, 2022 and 2021 are as follows:

	For the years ended December 31,
	2022		2021
Domestic Sales	$	90,171,256	$	98,278,264
International Sales		659,418		561,636
Total	$	90,830,674	$	98,839,900

Shareholders’ Equity (Details) - USD ($)	1 Months Ended			12 Months Ended
Shareholders’ Equity (Details) - USD ($)	Oct. 24, 2020	May 29, 2019	Jul. 27, 2018	Dec. 31, 2022	Jul. 27, 2022	Dec. 31, 2021
Shareholders’ Equity (Details) [Line Items]
Voting rights				one
Ordinary shares issued				12,978,504		12,978,504
Ordinary shares outstanding				11,329,530		11,329,530
Initial business combination, description			Each unit consists of one ordinary share, no par value, one warrant to purchase one-half of one ordinary share and one right to receive one-tenth of one ordinary share upon the consummation of its initial business combination.
Ordinary shares, description				In connection with the Business Combination, all the outstanding rights of the Company were converted into 468,200 ordinary shares on a one-tenth (1/10) ordinary share per right basis if holders of the rights elected to convert their rights into underlying ordinary shares.
Stockholders equity , description	the Company’s board of directors held a meeting and executed resolutions to approve the issuance of 120,000 ordinary shares to Raymond Wang, the Company’s chief executive officer, to offset unpaid salary to him in the amount of $120,833.33 and the issuance of 135,000 ordinary shares to Jing Jin, the Company’s chief financial officer, to offset unpaid salary to him in the amount of $60,000 and his personal loan to the Company in the amount of $75,000. On November 10, 2020, the Company issued 135,000 ordinary shares to Jing Jin. On December 30, 2020 and February 8, 2021, the Company issued 69,000 and 51,000 ordinary shares to Raymond Wang, respectively. In February 2021, the Company issued 48,344 ordinary shares from the exercise of warrants by certain warrant holders. On March 4, 2021, the Company issued 132,000 ordinary shares to Chardan from the exercise of Chardan’s unit purchase option to purchase 120,000 units. On April 19, 2021, the Company issued 2,500 ordinary shares to each of Peter Zuguang Wang, Charles Athle Nelson, Everett Xiaolin Wang, Ming Zhao and Bo Shen. On April 20, 2021, the Company issued 2,700 ordinary shares to Xiaqing Yang. On June 30, 2021, the Company closed a firm commitment offering of 857,844 ordinary shares at $8.16 per share with gross proceeds of $7,000,007 under its effective shelf registration statement. On July 27, 2022, the Company closed a firm commitment offering of 1,250,000 ordinary shares and 398,974 pre-funded warrants at $4.17 per share and $4.169 per pre-funded warrant with gross proceeds of $6,876,222 under its effective shelf registration statement.Rights — Each holder of a right was entitled to receive one-tenth (1/10) of one ordinary share upon consummation of the Business Combination.As of December 31, 2022, all of the existing Rights were converted into 468,200 ordinary shares as a result of the Business Combination.Warrants — Redeemable warrants sold as part of the units in the Company initial public offering, or the Public Warrants (together with the Private Warrants (as defined below), the “Warrants”), may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants have been exercisable since October 24, 2019. No Public Warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the ordinary shares issuable upon exercise of the Public Warrants and a current prospectus relating to such ordinary shares.
Warrants expire year				5 years
Private warrants, description				Private warrants include (i) the 282,000 warrants underlying the units issued to the Sponsor and Chardan in a private placement in connection with our initial public offering (“Private Unit Warrants”), and (ii) 120,000 warrants held by Chardan upon the exercise of its unit purchase option to purchase 120,000 units in March 2021 (“Option Warrants,” together with Private Unit Warrants, the “Private Warrants”).
Warrants outstanding				4,705,312	4,530,000
Cash payment (in Dollars)				$ 100
Purchase option outstanding				120,000
IPO [Member]
Shareholders’ Equity (Details) [Line Items]
Initial public offering units			4,400,000
Over-allotment option amount			400,000
Ordinary shares redeemed, description				In 2019, in connection with the Business Combination, 3,875,458 shares were redeemed and 81,400 shares were converted into ordinary shares, 1,906,542 ordinary shares were left outstanding upon consummation of the reverse recapitalization.
Private Warrants [Member]
Shareholders’ Equity (Details) [Line Items]
Description of warrant redemption				The Company may call the warrants for redemption (excluding the Private Warrants (as defined below)), in whole and not in part, at a price of $0.01 per warrant: ● At any time while the Public Warrants are exercisable, ● Upon not less than 30 days’ prior written notice of redemption to each Public Warrant holder, ● If, and only if, the reported last sale price of the ordinary shares equals or exceeds $16.50 per share, for any 20 trading days within a 30 trading day period ending on the third trading day prior to the notice of redemption to Public Warrant holders, and ● If, and only if, there is a current registration statement in effect with respect to the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption.
Warrants outstanding				260,000
Ordinary Shares [Member]
Shareholders’ Equity (Details) [Line Items]
Voting rights				one
Common Stock [Member]
Shareholders’ Equity (Details) [Line Items]
Existing ordinary shares were converted				468,200
Greenland Asset Management Corporation [Member]
Shareholders’ Equity (Details) [Line Items]
Private placement units				282,000
Zhongchai Holding [Member]
Shareholders’ Equity (Details) [Line Items]
Newly issued ordinary shares				7,500,000
Zhou Hanyi [Member]
Shareholders’ Equity (Details) [Line Items]
Newly issued ordinary shares		50,000
CEDE & CO [Member] \| Public Warrants [Member]
Shareholders’ Equity (Details) [Line Items]
Warrants outstanding				4,303,312
Chardan Capital Markets, LLC [Member]
Shareholders’ Equity (Details) [Line Items]
Sale of unit purchase option price (in Dollars)			$ 100
Option to purchase shares exercisable			240,000
Common stock price share (in Dollars per share)			$ 11.5
Aggregate exercise price (in Dollars)			$ 2,760,000
Chardan Capital Markets, LLC [Member] \| Private Warrants [Member]
Shareholders’ Equity (Details) [Line Items]
Warrants outstanding				142,000

Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories

	As of
	December 31, 2022			December 31, 2021
Raw materials	$	7,975,097		$	9,789,196
Revolving material		1,122,313			1,078,292
Consigned processing material		15,056			67,706
Work-in-progress		2,255,453			2,620,821
Finished goods		12,104,309			12,271,252
Less: inventory impairment		(375,846	)		(23,793	)
Inventories, net	$	23,096,382		$	25,803,474

Schedule of Inventory Reserve

Changes in the inventory reserves are as follows:

	As of
	December 31, 2022			December 31, 2021
Beginning balance	$	23,793		$	-
(Release of) inventory write-downs		359,534			23,536
Effect of FX change		(7,481	)		257
Ending balance	$	375,846		$	23,793

Organization and Principal Activities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Organization and Principal Activities (Details) [Line Items]
Revenue amount (in Dollars)	$ 90,830	$ 98,840
Transmission product sale of sets	129,686	141,431
Forklift manufacturers, description	more than 100 forklift manufacturers in the PRC.
Electric industrial vehicles, description	Greenland’s electric industrial vehicle products currently include GEF-series electric forklifts, a series of lithium powered forklifts with three models ranging in size from 1.8 tons to 3.5 tons, GEL-1800, a 1.8 ton rated load lithium powered electric wheeled front loader, GEX-8000, an all-electric 8.0 ton rated load lithium powered wheeled excavator, and GEL-5000, an all-electric 5.0 ton rated load lithium wheeled front loader. These products are available for purchase in the United States (“U.S.”) market. In August 2022, Greenland launched a 54,000 square foot industrial electric vehicle assembly site in Baltimore, Maryland to support local services, assembly and distribution of its electric industrial heavy equipment products line.
Percentage of outstanding ordinary shares	47.86%
Zhejiang Zhongchai Machinery Co., Ltd. [Member]
Organization and Principal Activities (Details) [Line Items]
Percentage of outstanding ordinary shares	71.576%
Shanghai Hengyu Business Management Consulting Co., Ltd [Member]
Organization and Principal Activities (Details) [Line Items]
Percentage of outstanding ordinary shares	62.50%
Hangzhou Greenland Energy Technologies Co., Ltd [Member]
Organization and Principal Activities (Details) [Line Items]
Percentage of outstanding ordinary shares	100.00%
Hengyu Capital, Ltd. [Member]
Organization and Principal Activities (Details) [Line Items]
Percentage of outstanding ordinary shares	62.50%
Zhejiang Zhongchai [Member]
Organization and Principal Activities (Details) [Line Items]
Subsidiaries, description	a limited liability company registered on November 21, 2005, is the direct operating subsidiary of Zhongchai Holding in the PRC. On April 5, 2007, Usunco Automotive Limited (“Usunco”), a British Virgin Islands limited liability company, invested US$8,000,000 for purchasing approximately 75.47% equity interest of Zhejiang Zhongchai. On December 16, 2009, Usunco agreed to transfer its 75.47% interest in Zhejiang Zhongchai to Zhongchai Holding. On April 26, 2010, Xinchang County Keyi Machinery Co., Ltd. transferred 24.528% equity interest it owned in Zhejiang Zhongchai to Zhongchai Holding in exchange for a consideration of US$2.6 million. On November 1, 2017, Xinchang County Jiuxin Investment Management Partnership (LP) (“Jiuxin”), an entity controlled and beneficially owned by Mr. He Mengxing, president of Zhejiang Zhongchai, closed its investment of approximately RMB31,590,000 in Zhejiang Zhongchai for 10.53% of its interest.On December 29, 2021, Xinchang County Jiuhe Investment Management Partnership (LP) (“Jiuhe”), an entity controlled and beneficially owned by Mr. He Mengxing, president of Zhejiang Zhongchai, closed its investment of approximately RMB34,300,000 in Zhejiang Zhongchai for 20.00% of its interest. As of December 31, 2022, Zhongchai Holding owned approximately 71.576% of the equity interests, Jiuxin owned approximately 8.424% of the equity interests, and Jiuhe owned approximately 20.00% of the equity interests in Zhejiang Zhongchai.

Short Term Investment

12 Months Ended

Dec. 31, 2022

Short Term Investment [Abstract]

SHORT TERM INVESTMENT

NOTE 4 – SHORT TERM INVESTMENT

As of December 31, 2022 and 2021, the Company’s short term investment amounted to $7,800,723 and $2,105,938, respectively. On July 1, 2021, the Company entered into a financial management agreement with Zhejiang Jilin Electronic Technology Co., LTD, pursuant to which Zhejiang Jilin Electronic Technology Co., LTD agreed to make short term investments with the amount contributed by the Company during the period from July 1, 2021 to June 30, 2023. The Company contributed a total of $500,000 under this agreement. During the year ended December 31, 2022, the Company purchased bank management products in a total amount of $7,405,433 (RMB50,000,000). As of December 31, 2022, the fair value of the Company’s bank management products and the financial management agreement with Zhejiang Jilin Electronic Technology Co., LTD were $7,331,243(RMB50,565,049) and $469,480..

Other Current Liabilities

12 Months Ended

Dec. 31, 2022

Other Current Liabilities [Abstract]

OTHER CURRENT LIABILITIES

NOTE 14 – OTHER CURRENT LIABILITIES

Other current liabilities are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Employee payables		747,923		946,678
Other tax payables		141,772		31,779
Other payable		88,403		44,283
Accrued expenses		569,292		175,687
Total	$	1,547,390	$	1,198,427

Accounts Receivable

12 Months Ended

Dec. 31, 2022

Accounts Receivable [Abstract]

ACCOUNTS RECEIVABLE

NOTE 6 – ACCOUNTS RECEIVABLE

Accounts receivable is net of allowance for doubtful accounts.

	As of
	December 31, 2022			December 31, 2021
Accounts receivable	$	15,100,085		$	16,774,321
Less: allowance for doubtful accounts		(762,325	)		(859,319	)
Accounts receivable, net	$	14,337,760		$	15,915,002

Changes in the allowance for doubtful accounts are as follows:

	As of
	December 31, 2022			December 31, 2021
Beginning balance	$	859,319		$	986,532
Provision for doubtful accounts		(32,316	)		(149,172	)
Effect of FX change		(64,678	)		21,959
Ending balance	$	762,325		$	859,319

Land Use Rights (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Land Use Rights Abstract
Land use rights, net	$ 3,640	$ 4,040

Earnings Per Share (Restated) (Details) - Schedule of Basic and Diluted Earnings per Share Computation (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Basic And Diluted Earnings Per Share Computation Abstract
Diluted net income per share	$ 0.06	$ 0.58

- Definition

+ References

+ Details

Property, Plant and Equipment and Construction in Progress (Details) - Schedule of Property, Plant and Equipment - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of property, plant and equipment [Abstract]
Buildings	$ 11,781,256	$ 12,751,105
Machinery	21,010,613	21,930,452
Motor vehicles	315,708	341,697
Electronic equipment	223,806	206,122
Fixed assets decoration
Total property plant and equipment, at cost	33,331,383	35,229,376
Less: accumulated depreciation	(17,763,247)	(16,679,022)
Property, plant and equipment, net	15,568,136	18,550,354
Construction in process	17,078	407,199
Total	$ 15,585,214	$ 18,957,553

Geographical Sales and Segments (Details) - Schedule of Sales by Geographical Area - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Geographical Sales and Segments (Details) - Schedule of Sales by Geographical Area [Line Items]
Total	$ 90,830,674	$ 98,839,900
Domestic Sales [Member]
Geographical Sales and Segments (Details) - Schedule of Sales by Geographical Area [Line Items]
Total	90,171,256	98,278,264
International Sales [Member]
Geographical Sales and Segments (Details) - Schedule of Sales by Geographical Area [Line Items]
Total	$ 659,418	$ 561,636

Organization and Principal Activities (Details) - Schedule of Subsidiary Included Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2022 HKD ($)
Zhongchai Holding (Hong Kong) Limited [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Domicile and Date of Incorporation	Hong Kong April 23, 2009
Paid-in Capital	$ 10,000
Percentage of Effective Ownership	100.00%
Principal Activities	Holding
Paid-in Capital, Currency	HKD
Zhejiang Zhongchai Machinery Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Domicile and Date of Incorporation	PRCNovember 21, 2005
Paid-in Capital	$ 25,000,000
Percentage of Effective Ownership	71.576%
Principal Activities	Manufacture, sale of various transmission boxes
Paid-in Capital, Currency	RMB
Shanghai Hengyu Business Management Consulting Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Domicile and Date of Incorporation	PRCSeptember 10, 2015
Paid-in Capital	$ 251,500,000
Percentage of Effective Ownership	62.50%
Principal Activities	Investment management and consulting services
Paid-in Capital, Currency	RMB
Hangzhou Greenland Energy Technologies Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Domicile and Date of Incorporation	PRC August 8, 2020
Paid-in Capital	$ 7,224,922
Percentage of Effective Ownership	100.00%
Principal Activities	Trading
Paid-in Capital, Currency	RMB
Greenland Technologies Corporation [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Domicile and Date of Incorporation	DelawareJanuary 14, 2020
Paid-in Capital	$ 6,363,557
Percentage of Effective Ownership	100.00%
Principal Activities	U.S. operation and distribution of electric industrial vehicles for North American market
Paid-in Capital, Currency	USD
Hengyu Capital, Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Domicile and Date of Incorporation	Hong Kong August 16, 2022
Paid-in Capital	$ 10,000
Percentage of Effective Ownership	62.50%
Principal Activities	Investment management and consulting services
Paid-in Capital, Currency	HKD

Restatement of Previously Issued Financial Statements (Tables)

12 Months Ended

Dec. 31, 2022

Restatements Of Previously Issued Funancial Statements Abstract

Schedule of Restatement on the Balance Sheet

The impact of the restatement on the balance sheet as of December 31, 2022 is presented below:

	As Previously Reported in 10-K		Adjustment			As Restated
Current assets
Due from related parties-current	$	36,669,907	$	(6,455,662	)	$	30,214,245
Total Current Assets		132,364,160		(6,455,662	)		125,908,498
Non-current asset
Due from related parties-non current		-		6,455,662			6,455,662
Total non-current assets		22,751,181		6,455,662			29,206,843
Long-term liabilities
Warrant liability		-		5,483,379			5,483,379
Total long-term liabilities		3,988,889		5,483,379			9,472,268
TOTAL LIABILITIES		70,197,578		5,483,379			75,680,957
EQUITY
Additional paid-in capital		32,955,927		(2,669,367	)		30,286,560
Retained earnings		37,228,261		(2,814,012	)		34,414,249
Total shareholders’ equity		71,195,100		(5,483,379	)		65,711,721
TOTAL EQUITY	$	84,917,763		(5,483,379	)		79,434,384

Schedule of Consolidated Statements of Income and Comprehensive Incomes

The impact of the restatement on consolidated statements of income and comprehensive incomes for the year ended December 31, 2022 is presented below:

	As Previously Reported 10-K			Adjustment			As Restated

Change in fair value of the warrant liability	$	-		$	(2,814,012	)	$	(2,814,012	)
INCOME BEFORE INCOME TAX		7,316,386			(2,814,012	)		4,502,374
NET INCOME		6,616,695			(2,814,012	)		3,802,683
NET INCOME ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES		3,559,565			(2,814,012	)		745,553
Comprehensive income (loss)		(286,253	)		(2,814,012	)		(3,100,265	)
NET INCOME(LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY:
Basic and diluted	$	0.30			(0.24	)		0.06

Schedule of Consolidated Statements of Cash Flow

The impact of the restatement on consolidated statements of cash flow for the year ended December 31, 2022 is presented below:

	As Previously Reported 10-K		Adjustment			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	6,616,695	$	(2,814,012	)	$	3,802,683
Change in fair value of the warrant liability		-		2,814,012			2,814,012

Warrant Liability (Restated) (Details) - Schedule of Warrants Outstanding and Fair Values - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Warrants Outstanding And Fair Values Abstract
Number of ordinary share warrants	4,530,000
Fair value of the warrants	$ 5,483,379

Restatement of Previously Issued Financial Statements

12 Months Ended

Dec. 31, 2022

Restatements Of Previously Issued Funancial Statements Abstract

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

NOTE 2 – RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

The restatement primarily is caused by two issues. First, In connection with the registered direct offering closed on July 27, 2022, the Company issued to an investor a warrant to purchase up to 4,530,000 ordinary shares at an exercise price of $4.49 per share. The warrant became exercisable on January 27, 2023 and will expire on January 26, 2028. The warrants meet the definition of a derivative under FASB ASC 815, as the Company cannot avoid a net cash settlement under certain circumstances. The Company incorrectly recognized as equity before. As a result, the Company restated its equity-classified to liability-classified and recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter.

Second, As of December 31, 2022, our controlling shareholder, Cenntro Holding Limited owed us $36.46 million. Such amount was all recorded as “due from related parties-current” on our balance sheet before. But according to the repayment agreement dated March 30, 2022, by and between Centro Holding Limited and Greenland, the ending balance should have been classified as current and non-current portion. As a result, the Company restated the amount due from Cenntro Holding Limited to “due from related parties-current” and “due from related parties-non current” based on certain payment schedules.

Impact of the Restatement

The impact of the restatement on the balance sheet as of December 31, 2022 is presented below:

	As Previously Reported in 10-K		Adjustment			As Restated
Current assets
Due from related parties-current	$	36,669,907	$	(6,455,662	)	$	30,214,245
Total Current Assets		132,364,160		(6,455,662	)		125,908,498
Non-current asset
Due from related parties-non current		-		6,455,662			6,455,662
Total non-current assets		22,751,181		6,455,662			29,206,843
Long-term liabilities
Warrant liability		-		5,483,379			5,483,379
Total long-term liabilities		3,988,889		5,483,379			9,472,268
TOTAL LIABILITIES		70,197,578		5,483,379			75,680,957
EQUITY
Additional paid-in capital		32,955,927		(2,669,367	)		30,286,560
Retained earnings		37,228,261		(2,814,012	)		34,414,249
Total shareholders’ equity		71,195,100		(5,483,379	)		65,711,721
TOTAL EQUITY	$	84,917,763		(5,483,379	)		79,434,384

The impact of the restatement on consolidated statements of income and comprehensive incomes for the year ended December 31, 2022 is presented below:

	As Previously Reported 10-K			Adjustment			As Restated

Change in fair value of the warrant liability	$	-		$	(2,814,012	)	$	(2,814,012	)
INCOME BEFORE INCOME TAX		7,316,386			(2,814,012	)		4,502,374
NET INCOME		6,616,695			(2,814,012	)		3,802,683
NET INCOME ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES		3,559,565			(2,814,012	)		745,553
Comprehensive income (loss)		(286,253	)		(2,814,012	)		(3,100,265	)
NET INCOME(LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY:
Basic and diluted	$	0.30			(0.24	)		0.06

The impact of the restatement on consolidated statements of cash flow for the year ended December 31, 2022 is presented below:

	As Previously Reported 10-K		Adjustment			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	6,616,695	$	(2,814,012	)	$	3,802,683
Change in fair value of the warrant liability		-		2,814,012			2,814,012

Warrant Liability (Restated) (Details) - USD ($)		12 Months Ended
Warrant Liability (Restated) (Details) - USD ($)	Jul. 27, 2022	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding warrant (in Shares)	4,530,000	4,705,312
Exercise price (in Dollars per share)	$ 4.49	$ 4.49
Change in fair value of the warrant	$ 2,669,367	$ 2,814,012
Derivative liability		$ 5,483,379

Lease (Details)	Dec. 31, 2022
Lease (Details) [Line Items]
Operating leases, with initial terms	5 years 6 months 29 days
Corporate Offices [Member]
Lease (Details) [Line Items]
Operating leases, with initial terms	3 years

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Significant Accounting Policies [Abstract]

Schedule of Gain or Loss on Foreign Currency Transaction

Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations.

	For the years ended December 31,
	2022		2021
Period end RMB: US$ exchange rate		6.8972		6.3726
Period average RMB: US$ exchange rate		6.7518		6.4424

Schedule of Estimated Useful Lives

Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives are as follows:

Plant, buildings and improvements			20 years
Machinery and equipment			2~10 years
Motor vehicles			4 years
Office equipment			3~5 years
Fixed assets decoration			5 years

Schedule of Sets Forth Disaggregation of Revenue

The following table sets forth disaggregation of revenue:

	For the years ended December 31,
	2022		2021
Major Product
Transmission boxes for Forklift	$	80,220,000	$	85,618,567
Transmission boxes for Non-Forklift (EV, etc.)		10,610,674		13,221,333
Total	$	90,830,674	$	98,839,900

Accounts Payable (Details) - Schedule of Accounts Payable - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Accounts Payable (Details) - Schedule of Accounts Payable [Line Items]
Accounts payable	$ 24,817,165	$ 29,064,132
Procurement of Materials [Member]
Accounts Payable (Details) - Schedule of Accounts Payable [Line Items]
Accounts payable	24,541,774	28,076,580
Infrastructure& Equipment [Member]
Accounts Payable (Details) - Schedule of Accounts Payable [Line Items]
Accounts payable	207,587	870,616
Freight fee [Member]
Accounts Payable (Details) - Schedule of Accounts Payable [Line Items]
Accounts payable	$ 67,804	$ 116,936

Land Use Rights (Tables)

12 Months Ended

Dec. 31, 2022

Land Use Rights Abstract

Schedule of Land Use Rights

Land use rights consisted of the following:

	As of
	December 31, 2022			December 31, 2021
Land use rights, cost	$	4,460,738		$	4,827,951
Less: Accumulated amortization		(821,671	)		(792,753	)
Land use rights, net	$	3,639,067		$	4,035,198

Schedule of Estimated Future Amortization Expense

Estimated future amortization expense is as follows as of December 31, 2022:

Years ending December 31,	Amortization expense
2023	$	91,136
2024		91,136
2025		91,136
2026		91,136
2027		91,136
Thereafter		3,183,387
Total	$	3,639,067

Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties	12 Months Ended
	Dec. 31, 2022
Sinomachinery Holding Limited [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under common control of Peter Zuguang Wang
Cenntro Holding Limited [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Controlling shareholder of the Company
Zhejiang Kangchen Biotechnology Co., Ltd. [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under common control of Peter Zuguang Wang
Cenntro Smart Manufacturing Tech. Co., Ltd. [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under common control of Peter Zuguang Wang
Zhejiang Zhonggong Machinery Co., Ltd. [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under common control of Peter Zuguang Wang
Xinchang County Jiuxin Investment Management Partnership (LP) [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under common control of Peter Zuguang Wang
Hangzhou Cenntro Autotech Co., Limited [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under common control of Peter Zuguang Wang
Peter Zuguang Wang [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Chairman of the Company
Greenland Asset Management Corporation [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Shareholder of the Company
Hangzhou Jiuru Economic Information Consulting Co. Ltd [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	One of the directors of Hengyu
Xinchang County Jiuhe Investment Management Partnership (LP) [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai/NCI of Zhejiang Zhongchai
Cenntro Automotive Corporation [Member]
Related Party Transactions (Restated) (Details) - Schedule of Names and Relationship of Related Parties [Line Items]
Existing Relationship with the Company	Under common control of Peter Zuguang Wang

Concentration on Revenues and Cost of Goods Sold (Tables)

12 Months Ended

Dec. 31, 2022

Concentration on Revenues and Cost of Goods Sold [Abstract]

Schedule of Concentration of Major Customers and Suppliers

Concentration of major customers and suppliers:

	For the years ended December 31,
	2022				2021
Major customers representing more than 10% of the Company’s revenues
Company A	$	15,570,726	17.14	%	$	18,252,003	18.47	%
Company B		12,846,382	14.14	%		14,766,702	14.94	%
Total Revenues	$	28,417,108	31.28	%	$	33,018,705	33.41	%

Schedule of Major Customers of Accounts Receivable

	As of
	December 31, 2022				December 31, 2021
Major customers of the Company’s accounts receivable, net
Company A		2,266,095	15.81	%		2,157,638	13.56	%
Company B		2,140,591	14.93	%		2,148,131	13.50	%
Company C		1,430,298	9.98	%		1,957,936	12.30	%
Total	$	5,836,984	40.72	%	$	6,263,705	39.36	%

Organization and Principal Activities

12 Months Ended

Dec. 31, 2022

Organization and Principal Activities [Abstract]

ORGANIZATION AND PRINCIPAL ACTIVITIES

NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES

Greenland Technologies Holding Corporation (the “Company” or “Greenland”) was incorporated on December 28, 2017 as a British Virgin Islands company with limited liability. The Company was incorporated as a blank check company for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more target businesses. Following the Business Combination (as described and defined below) in October 2019, the Company changed its name from Greenland Acquisition Corporation to Greenland Technologies Holding Corporation.

Greenland serves as the parent company of Zhongchai Holding (Hong Kong) Limited, a holding company formed under the laws of Hong Kong Special Administrative Region (“Hong Kong”) on April 23, 2009 (“Zhongchai Holding”). Zhongchai Holding’s subsidiaries include Zhejiang Zhongchai Machinery Co. Ltd., an operating company formed under the laws of the People’s Republic of China (the “PRC” or “China”) in 2005, Hangzhou Greenland Energy Technologies Co., Ltd., an operating company formed under the laws of the PRC in 2019, and Shanghai Hengyu Business Management Consulting Co., Ltd., a company formed under the laws of the PRC in 2005. Through Zhongchai Holding and its subsidiaries, Greenland develops and manufactures traditional transmission products for material handling machineries in the PRC.

HEVI Corp. (“HEVI”), formerly known as Greenland Technologies Corp. prior to May 2022, was incorporated on January 14, 2020 under the laws of the State of Delaware. HEVI is a wholly-owned subsidiary of Greenland and promotes sales of sustainable alternative products for the heavy industrial equipment industry, including electric industrial vehicles, in the North American market.

Through its PRC subsidiaries, Greenland offers transmission products, which are key components for forklift trucks used in manufacturing and logistic applications, such as factories, workshops, warehouses, fulfilment centers, shipyards, and seaports. Forklifts play an important role in the logistic systems of many companies across different industries in China and globally. Generally, industries with the largest demand for forklifts include the transportation, warehousing logistics, electrical machinery, and automobile industries. Greenland’s revenue decreased from approximately $98.84 million in the fiscal year 2021 to $90.83 million in the fiscal year 2022. The decrease in revenue was primarily the result of a decrease in the Company’s sales volume resulting from COVID-19 related lockdowns in China for the year ended December 31, 2022. Based on the revenues in the fiscal years ended December 31, 2022 and 2021, Greenland believes that it is one of the major developers and manufacturers of transmission products for small and medium-sized forklift trucks in China.

Greenland’s transmission products are used in 1-ton to 15-tons forklift trucks, some with mechanical shift and some with automatic shift. Greenland sells these transmission products directly to forklift-truck manufacturers. In the fiscal years ended December 31, 2022 and 2021, Greenland sold an aggregate of 129,686 and 141,431 sets of transmission products, respectively, to more than 100 forklift manufacturers in the PRC.

There is increasing demand for electric industrial vehicles powered by sustainable energy in order to reduce air pollution and lower carbon emissions. In December 2020, Greenland launched a new division to focus on the production and sale of electric industrial vehicles—a division that Greenland intends to develop to diversify its product offerings. Greenland’s electric industrial vehicle products currently include GEF-series electric forklifts, a series of lithium powered forklifts with three models ranging in size from 1.8 tons to 3.5 tons, GEL-1800, a 1.8 ton rated load lithium powered electric wheeled front loader, GEX-8000, an all-electric 8.0 ton rated load lithium powered wheeled excavator, and GEL-5000, an all-electric 5.0 ton rated load lithium wheeled front loader. These products are available for purchase in the United States (“U.S.”) market. In August 2022, Greenland launched a 54,000 square foot industrial electric vehicle assembly site in Baltimore, Maryland to support local services, assembly and distribution of its electric industrial heavy equipment products line.

The COVID-19 pandemic has significantly affected business and manufacturing activities within China, including travel restrictions, widespread mandatory quarantines, and suspension of business activities within China. For the fiscal years ended December 31, 2021 and 2022, we experienced rising material costs due to the pandemic. As of the date of the Original Form 10-K, Chinese industries have gradually resumed businesses as the Chinese government lifted its COVID-19 protocols and measures since December 2022. However, we remain cautious and prudent when assessing the future impact of COVID-19 on our business due to the current ongoing global pandemic.

The Company’s Shareholders

As of December 31, 2022, Cenntro Holding Limited owned 47.86% of Greenland’s outstanding ordinary shares. Cenntro Holding Limited is controlled and beneficially owned by Mr. Peter Zuguang Wang, the chairman of the board of directors of the Company.

The Company’s Subsidiaries

Zhongchai Holding, the wholly-owned subsidiary of the Company, owned 71.576% of Zhejiang Zhongchai Machinery Co., Ltd. (“Zhejiang Zhongchai”), 62.5% of Shanghai Hengyu Business Management Consulting Co., Ltd. (“Hengyu”), 100% of Hangzhou Greenland Energy Technologies Co., Ltd Co., Ltd (“Hangzhou Greenland”) and 62.5% of Hengyu Capital, Ltd. (“Hengyu Capital”). HEVI (formerly known as Greenland Technologies Corp.) is a wholly-owned subsidiary of Greenland.

Zhejiang Zhongchai

Zhejiang Zhongchai, a limited liability company registered on November 21, 2005, is the direct operating subsidiary of Zhongchai Holding in the PRC. On April 5, 2007, Usunco Automotive Limited (“Usunco”), a British Virgin Islands limited liability company, invested US$8,000,000 for purchasing approximately 75.47% equity interest of Zhejiang Zhongchai. On December 16, 2009, Usunco agreed to transfer its 75.47% interest in Zhejiang Zhongchai to Zhongchai Holding. On April 26, 2010, Xinchang County Keyi Machinery Co., Ltd. transferred 24.528% equity interest it owned in Zhejiang Zhongchai to Zhongchai Holding in exchange for a consideration of US$2.6 million. On November 1, 2017, Xinchang County Jiuxin Investment Management Partnership (LP) (“Jiuxin”), an entity controlled and beneficially owned by Mr. He Mengxing, president of Zhejiang Zhongchai, closed its investment of approximately RMB31,590,000 in Zhejiang Zhongchai for 10.53% of its interest.On December 29, 2021, Xinchang County Jiuhe Investment Management Partnership (LP) (“Jiuhe”), an entity controlled and beneficially owned by Mr. He Mengxing, president of Zhejiang Zhongchai, closed its investment of approximately RMB34,300,000 in Zhejiang Zhongchai for 20.00% of its interest. As of December 31, 2022, Zhongchai Holding owned approximately 71.576% of the equity interests, Jiuxin owned approximately 8.424% of the equity interests, and Jiuhe owned approximately 20.00% of the equity interests in Zhejiang Zhongchai.

Through Zhejiang Zhongchai, the Company has been engaging in the manufacturing and sales of transmission systems mainly for forklift trucks since 2006. These forklift trucks are used in manufacturing and logistics applications, such as factory, workshop, warehouse, fulfilment centers, shipyards and seaports. The transmission systems are the key components for forklift trucks. The Company supplies transmission systems to forklift truck manufacturers. Its transmission systems fit for forklift trucks ranging from 1 to 15 tons, with either mechanical shift or automatic shift. All the products are currently manufactured at the Company’s facility in Xinchang, Zhejiang Province, the PRC and are sold to both domestic and oversea markets.

Hengyu

Hengyu is a limited liability company registered on September 10, 2015 in Shanghai Free Trade Zone, Shanghai, the PRC. Hengyu holds no assets other than an account receivable owed by Cenntro Holding Limited. The main business of Hengyu is to provide investment management and consulting services.

Hangzhou Greenland

Hangzhou Greenland is a limited liability company registered on August 9, 2019 in Hangzhou Sunking Plaza, Zhejiang, the PRC. Hangzhou Greenland engages in the business of trading construction engineering machinery, electronic components, hardware, and others.

HEVI

HEVI, formerly known as Greenland Technologies Corp. prior to May 2022, was incorporated on January 14, 2020 under the laws of the State of Delaware. HEVI is a wholly-owned subsidiary of Greenland and promotes sales of sustainable alternative products for the heavy industrial equipment industry, including electric industrial vehicles, in the North American market.

Hengyu Capital

Hengyu capital is a limited liability company registered on August 16, 2022 in Hong Kong. The main business of Hengyu capital is to engage in investment management and consulting services.

Details of the Company’s subsidiaries, which are included in these consolidated financial statements as of December 31, 2022, are as follows:

Name

Domicile
and Date of
Incorporation

Paid-in
Capital

Percentage of
Effective
Ownership

Principal Activities

Zhongchai Holding (Hong Kong) Limited

Hong Kong
April 23, 2009

HKD

10,000

100

Holding

Zhejiang Zhongchai Machinery Co., Ltd.

PRC
November 21, 2005

RMB

25,000,000

71.576

Manufacture, sale of various transmission boxes

Shanghai Hengyu Business Management Consulting Co., Ltd.

PRC
September 10, 2015

RMB

251,500,000

62.5

Investment management and consulting services

Hangzhou Greenland Energy Technologies Co., Ltd.

PRC
August 8, 2020

RMB

7,224,922

100

Trading

HEVI Corp.

Delaware
January 14, 2020

USD

6,363,557

100

U.S. operation and distribution of electric industrial vehicles for North American market

Hengyu Capital, Ltd

Hong Kong
August 16, 2022

HKD

10,000

62.5

Investment management and consulting services

Consolidated Statements of Income and Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
REVENUES	$ 90,830,674	$ 98,839,900
COST OF GOODS SOLD	70,995,940	79,246,280
GROSS PROFIT	19,834,734	19,593,620
Selling expenses	2,630,226	1,868,156
General and administrative expenses	5,459,020	3,948,850
Research and development expenses	5,786,946	5,526,546
Total operating expenses	13,876,192	11,343,552
INCOME FROM OPERATIONS	5,958,542	8,250,068
Interest income	56,817	68,295
Interest expense	(402,968)	(587,264)
Loss on disposal of property and equipment	(1,511)	1,785
Change in fair value of the warrant liability	(2,814,012)
Other income/(loss)	1,705,506	1,378,597
INCOME BEFORE INCOME TAX	4,502,374	9,111,481
INCOME TAX	699,691	1,843,260
NET INCOME	3,802,683	7,268,221
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST	3,057,130	1,002,643
NET INCOME ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES	745,553	6,265,578
OTHER COMPREHENSIVE INCOME (LOSS):	(5,740,161)	1,476,710
Unrealized foreign currency translation income (loss) attribute to Greenland technologies holding corporation and subsidiaries	(3,845,818)	1,077,324
Unrealized foreign currency translation income (loss) attribute to non-controlling interest	(1,894,343)	399,386
Comprehensive income (loss)	(3,100,265)	7,342,902
Noncontrolling interest	$ 1,162,787	$ 1,402,029
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:
Basic (in Shares)	11,886,876	10,840,638
NET INCOME PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY:
Basic (in Dollars per share)	$ 0.06	$ 0.58

Warrant Liability (Restated) (Details) - Schedule of Reporting Period End Remeasurement Dates - $ / shares	7 Months Ended	12 Months Ended
	Jul. 27, 2022	Dec. 31, 2022
Schedule Of Reporting Period End Remeasurement Dates Abstract
Share price (in Dollars per share)	$ 4.31	$ 2.18
Exercise price (in Dollars per share)	$ 4.49	$ 4.49
Annual dividend yield
Expected term (years)	3 years	2 years 6 months 25 days
Risk-free interest rate	2.90%	4.30%
Expected volatility	140.00%	120.00%

Related Party Transactions (Restated)

12 Months Ended

Dec. 31, 2022

RELATED PARTY TRANSACTIONS (Restated)

NOTE 24 – RELATED PARTY TRANSACTIONS (Restated)

(a) Names and Relationship of Related Parties:

		Existing Relationship with the Company
Sinomachinery Holding Limited		Under common control of Peter Zuguang Wang
Cenntro Holding Limited		Controlling shareholder of the Company
Zhejiang Kangchen Biotechnology Co., Ltd.		Under common control of Peter Zuguang Wang
Cenntro Smart Manufacturing Tech. Co., Ltd.		Under common control of Peter Zuguang Wang
Zhejiang Zhonggong Machinery Co., Ltd.		Under common control of Peter Zuguang Wang
Xinchang County Jiuxin Investment Management Partnership (LP)		Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		Under common control of Peter Zuguang Wang
Hangzhou Cenntro Autotech Co., Limited		Under common control of Peter Zuguang Wang
Peter Zuguang Wang		Chairman of the Company
Greenland Asset Management Corporation		Shareholder of the Company
Hangzhou Jiuru Economic Information Consulting Co. Ltd		One of the directors of Hengyu
Xinchang County Jiuhe Investment Management Partnership (LP)		Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai/NCI of Zhejiang Zhongchai
Cenntro Automotive Corporation		Under common control of Peter Zuguang Wang

(b) Summary of Balances with Related Parties:

	As of
	December 31, 2022		December 31, 2021
Due to related parties:
Zhejiang Zhonggong Machinery Co., Ltd.¹	$	64,563	$	409,807
Cenntro Smart Manufacturing Tech. Co., Ltd.²		2,683		2,903
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)³		94,442		94,442
Cenntro Holding Limited⁴		1,341,627		1,341,627
Cenntro Automotive Corporation⁴		-		11,462
Xinchang County Jiuxin Investment Management Partnership (LP)⁴		-		1,569,218
Hangzhou Jiuru Economic Information Consulting Co. Ltd⁴		190,000		190,000
Total	$	1,693,315	$	3,619,459

The balance of due to related parties as of December 31, 2022 and December 31, 2021 consisted of:

Unpaid balances for purchasing of materials and equipment and temporary borrowing from Zhejiang Zhonggong Machinery Co., Ltd.;

Prepayment from Cenntro Smart Manufacturing Tech. Co., Ltd.

Temporary borrowings from Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership); and

Borrowings from related parties.

	As of
	December 31,		December 31,
	2022		2021
Due from related parties-current:
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		214,245		219,691
Cenntro Holding Limited	$	30,000,000	$	39,459,874
Total	$	30,214,245	$	39,679,565

	As of
	December 31,		December 31,
	2022		2021
Due from related parties-non current:
Cenntro Holding Limited	$	6,455,662	$	-
Total	$	6,455,662	$	-

The balance of due from related parties as of December 31, 2022 and December 31, 2021 consisted of:

Other receivable from Cenntro Holding Limited was $36.46 million and $39.46 million as of December 31, 2022 and December 31, 2021, respectively.

(c) Summary of Related Party Funds Lending:

A summary of funds lending with related parties for the years ended December 31, 2022 and 2021 are listed below:

	For the years ended December 31,
	2022		2021
Withdraw funds from related parties:
Zhejiang Zhonggong Machinery Co., Ltd.	$	-	$	77,611
Cenntro Holding Limited		-		251,973
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		207,352		35,080
Peter Zuguang Wang		-		25,000
Cenntro Smart Manufacturing Tech. Co., Ltd.		74,054		29,647

	For the years ended December 31,
	2022		2021
Deposit funds with related parties:
Zhejiang Zhonggong Machinery Co., Ltd.	$	394,892	$	139,699
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		209,383		677,697
Xinchang County Jiuxin Investment Management Partnership (LP)		1,481,087		2,851,515
Cenntro Smart Manufacturing Tech. Co., Ltd.		74,054		36,632
Peter Zuguang Wang		-		25,000
Cenntro Holding Limited		-		250,000
Zhejiang Kangchen Biotechnology Co., Ltd		-		64,505

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Long Term Payables

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

LONG TERM PAYABLES

NOTE 17 – LONG TERM PAYABLES

	As of
	December 31, 2022		December 31, 2021
Long-term payables current portion	$	-	$	197,915
Long-term payables– non-current portion		-		-
Total	$	-	$	197,915

On January 3, 2019, the Company sold a set of manufacturing equipment to third parties for aggregate proceeds of $3.08 million (RMB21.25 million) and the Company entered into lease agreements under which the Company agreed to lease back each of the properties for an initial term of 3 years.

On April 26, 2019, the Company sold various equipment including a general assembly line and the differential assembly line to third parties for aggregate proceeds of $2.12 million (RMB14.66 million) and the Company entered into lease agreements under which the Company agreed to lease back each of the properties for an initial term of 2 years.

On May 27, 2020, the Company sold various equipment including a general assembly line and the differential assembly line to third parties for aggregate proceeds of $1.42 million (RMB10.00 million). The Company also entered into lease agreements under which the Company agreed to lease back each of the properties for an initial term of 2 years.

The Company determined that it did not relinquish control of the assets to the buyer-lessor. Therefore, the sale of the equipment does not qualify for sale-leaseback accounting. As a result, the aggregate proceeds have been recorded as a financing obligation and the assets related to the sold and leased manufacturing equipment remain on the Company’s Consolidated Balance Sheet and continue to be depreciated. The current and long-term portions of the financing obligation are included within long-term payables-current portion and long-term payables-non-current portion, respectively.

Notes Payable (Details) - Schedule of Notes Payable - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Notes Payable [Abstract]
Bank acceptance notes	$ 28,272,472	$ 42,093,061
Total	$ 28,272,472	$ 42,093,061

Notes Receivable (Tables)

12 Months Ended

Dec. 31, 2022

Notes Receivable (Tables) [Line Items]

Schedule of Notes Receivable

	As of
	December 31, 2022		December 31, 2021
Bank notes receivable:	$	26,713,919	$	36,075,366
Commercial notes receivable		2,034,960		1,475,755
Total	$	28,748,879	$	37,551,121

Concentration on Revenues and Cost of Goods Sold

12 Months Ended

Dec. 31, 2022

Concentration on Revenues and Cost of Goods Sold [Abstract]

CONCENTRATION ON REVENUES AND COST OF GOODS SOLD

NOTE 5 – CONCENTRATION ON REVENUES AND COST OF GOODS SOLD

Concentration of major customers and suppliers:

	For the years ended December 31,
	2022				2021
Major customers representing more than 10% of the Company’s revenues
Company A	$	15,570,726	17.14	%	$	18,252,003	18.47	%
Company B		12,846,382	14.14	%		14,766,702	14.94	%
Total Revenues	$	28,417,108	31.28	%	$	33,018,705	33.41	%

	As of
	December 31, 2022				December 31, 2021
Major customers of the Company’s accounts receivable, net
Company A		2,266,095	15.81	%		2,157,638	13.56	%
Company B		2,140,591	14.93	%		2,148,131	13.50	%
Company C		1,430,298	9.98	%		1,957,936	12.30	%
Total	$	5,836,984	40.72	%	$	6,263,705	39.36	%

Accounts receivable from the Company’s major customers accounted for 40.72% and 39.36% of total accounts receivable balances as of December 31, 2022 and December 31, 2021, respectively.

There was no supplier representing more than 10% of the Company’s total purchases for the years ended December 31, 2022 and 2021, respectively.

Summary of Significant Accounting Policies (Details) - Schedule of Gain or Loss on Foreign Currency Transaction	Dec. 31, 2022	Dec. 31, 2021
Schedule of gain or loss on foreign currency transaction [Abstract]
Period end RMB: US$ exchange rate	6.8972	6.3726
Period average RMB: US$ exchange rate	6.7518	6.4424

Related Party Transactions (Restated) (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Names and Relationship of Related Parties

(a) Names and Relationship of Related Parties:

		Existing Relationship with the Company
Sinomachinery Holding Limited		Under common control of Peter Zuguang Wang
Cenntro Holding Limited		Controlling shareholder of the Company
Zhejiang Kangchen Biotechnology Co., Ltd.		Under common control of Peter Zuguang Wang
Cenntro Smart Manufacturing Tech. Co., Ltd.		Under common control of Peter Zuguang Wang
Zhejiang Zhonggong Machinery Co., Ltd.		Under common control of Peter Zuguang Wang
Xinchang County Jiuxin Investment Management Partnership (LP)		Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		Under common control of Peter Zuguang Wang
Hangzhou Cenntro Autotech Co., Limited		Under common control of Peter Zuguang Wang
Peter Zuguang Wang		Chairman of the Company
Greenland Asset Management Corporation		Shareholder of the Company
Hangzhou Jiuru Economic Information Consulting Co. Ltd		One of the directors of Hengyu
Xinchang County Jiuhe Investment Management Partnership (LP)		Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai/NCI of Zhejiang Zhongchai
Cenntro Automotive Corporation		Under common control of Peter Zuguang Wang

Schedule of Due To Related Parties

(b) Summary of Balances with Related Parties:

	As of
	December 31, 2022		December 31, 2021
Due to related parties:
Zhejiang Zhonggong Machinery Co., Ltd.¹	$	64,563	$	409,807
Cenntro Smart Manufacturing Tech. Co., Ltd.²		2,683		2,903
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)³		94,442		94,442
Cenntro Holding Limited⁴		1,341,627		1,341,627
Cenntro Automotive Corporation⁴		-		11,462
Xinchang County Jiuxin Investment Management Partnership (LP)⁴		-		1,569,218
Hangzhou Jiuru Economic Information Consulting Co. Ltd⁴		190,000		190,000
Total	$	1,693,315	$	3,619,459

Unpaid balances for purchasing of materials and equipment and temporary borrowing from Zhejiang Zhonggong Machinery Co., Ltd.;

Prepayment from Cenntro Smart Manufacturing Tech. Co., Ltd.

Temporary borrowings from Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership); and

Borrowings from related parties.

Schedule of Due from Related Parties

Borrowings from related parties.

	As of
	December 31,		December 31,
	2022		2021
Due from related parties-current:
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		214,245		219,691
Cenntro Holding Limited	$	30,000,000	$	39,459,874
Total	$	30,214,245	$	39,679,565

	As of
	December 31,		December 31,
	2022		2021
Due from related parties-non current:
Cenntro Holding Limited	$	6,455,662	$	-
Total	$	6,455,662	$	-

Schedule of Related Party Funds Lending

A summary of funds lending with related parties for the years ended December 31, 2022 and 2021 are listed below:

	For the years ended December 31,
	2022		2021
Withdraw funds from related parties:
Zhejiang Zhonggong Machinery Co., Ltd.	$	-	$	77,611
Cenntro Holding Limited		-		251,973
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		207,352		35,080
Peter Zuguang Wang		-		25,000
Cenntro Smart Manufacturing Tech. Co., Ltd.		74,054		29,647

	For the years ended December 31,
	2022		2021
Deposit funds with related parties:
Zhejiang Zhonggong Machinery Co., Ltd.	$	394,892	$	139,699
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)		209,383		677,697
Xinchang County Jiuxin Investment Management Partnership (LP)		1,481,087		2,851,515
Cenntro Smart Manufacturing Tech. Co., Ltd.		74,054		36,632
Peter Zuguang Wang		-		25,000
Cenntro Holding Limited		-		250,000
Zhejiang Kangchen Biotechnology Co., Ltd		-		64,505

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 7 – INVENTORIES

	As of
	December 31, 2022			December 31, 2021
Raw materials	$	7,975,097		$	9,789,196
Revolving material		1,122,313			1,078,292
Consigned processing material		15,056			67,706
Work-in-progress		2,255,453			2,620,821
Finished goods		12,104,309			12,271,252
Less: inventory impairment		(375,846	)		(23,793	)
Inventories, net	$	23,096,382		$	25,803,474

Changes in the inventory reserves are as follows:

	As of
	December 31, 2022			December 31, 2021
Beginning balance	$	23,793		$	-
(Release of) inventory write-downs		359,534			23,536
Effect of FX change		(7,481	)		257
Ending balance	$	375,846		$	23,793

Geographical Sales and Segments (Tables)

12 Months Ended

Dec. 31, 2022

Geographical Sales and Segments [Abstract]

Schedule of Sales by Geographical Area

Information for the Company’s sales by geographical area for the years ended December 31, 2022 and 2021 are as follows:

	For the years ended December 31,
	2022		2021
Domestic Sales	$	90,171,256	$	98,278,264
International Sales		659,418		561,636
Total	$	90,830,674	$	98,839,900

Earnings Per Share (Restated) (Details) - Schedule of Basic and Diluted Earnings per Share Computation - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Basic And Diluted Earnings Per Share Computation Abstract
Net income attributable to the Greenland Technologies Holding Corporation and subsidiaries	$ 745,553	$ 6,265,578
Weighted average shares used in basic computation (in Shares)	11,886,876	10,840,638
Diluted effect of stock options and warrants
Weighted average shares used in diluted computation	$ 11,886,876	$ 10,840,638
Basic net income per share (in Dollars per share)	$ 0.06	$ 0.58

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

Notes Receivable (Details) - Schedule of Notes Receivable - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Notes Receivable [Abstract]
Bank notes receivable:	$ 26,713,919	$ 36,075,366
Commercial notes receivable	2,034,960	1,475,755
Total	$ 28,748,879	$ 37,551,121

Restatement of Previously Issued Financial Statements (Details) - Schedule of Consolidated Statements of Income and Comprehensive Incomes (Parentheticals)	12 Months Ended
	Dec. 31, 2022 $ / shares
Previously Reported [Member]
Condensed Income Statements, Captions [Line Items]
Diluted	$ 0.30
Revision of Prior Period, Adjustment [Member]
Condensed Income Statements, Captions [Line Items]
Diluted	(0.24)
As Restated [Member]
Condensed Income Statements, Captions [Line Items]
Diluted	$ 0.06

- Definition

+ References

+ Details

Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
Document And Entity Information - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2023	Jun. 30, 2022
Document Information Line Items
Entity Registrant Name	GREENLAND TECHNOLOGIES HOLDING CORPORATION
Trading Symbol	GTEC
Document Type	10-K/A
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		12,978,504
Entity Public Float			$ 35,100
Amendment Flag	true
Amendment Description	Greenland Technologies Holding Corporation (the “Company”) is filing this Amendment No. 1 to the Annual Report on Form 10-K (this “Amendment”) to amend the disclosure in (i) Management’s Discussion and Analysis of Financial Condition and Results of Operations under Item 7, (ii) financial statements and footnotes under Item 8, (iii) related party transactions under Item 13, (iv) exhibit index under Item 15, to reflect certain revisions to the Company’s financials as of December 31, 2022 and for the year then ended contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Original Form 10-K”), filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2023. Based on the Company’s reassessment of certain transactions, the effect of the restatement resulted in an increase in total long-term liabilities, a decrease in net loss, a decrease in shareholders’ equity, to the Company’s financials as of December 31, 2022 and for the year then ended.The Company also updated the cover page of this Amendment to reflect that it is no longer an emerging growth company since the fiscal year ending December 31, 2024.Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), this Amendment also contains new certifications of the Company’s principal executive officer and principal financial officer.Except as described above, no other changes have been made to the Original Form 10-K and this Amendment does not reflect events occurring after the filing of the Original Form 10-K, and no attempt has been made in this Amendment to modify or update other disclosures as presented in the Original Form 10-K. Accordingly, this Amendment should be read in conjunction with the Original Form 10-K and the Company’s filings made with the SEC subsequent to the Original Form 10-K.
Entity Central Index Key	0001735041
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-38605
Entity Incorporation, State or Country Code	D8
Entity Tax Identification Number	01-0038605
Entity Address, Address Line One	50 Millstone Road
Entity Address, Address Line Two	Building 400 Suite 130
Entity Address, City or Town	East Windsor
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08512
City Area Code	1 (888)
Local Phone Number	827-4832
Title of 12(b) Security	Ordinary shares, no par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Financial Statement Error Correction [Flag]	false
Auditor Name	WWC, P.C
Auditor Location	San Mateo, California
Auditor Firm ID	1171

Income Taxes (Restated)

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

INCOME TAXES (Restated)

NOTE 22 – INCOME TAXES (Restated)

Income tax expense includes a provision for federal, state and foreign taxes based on the annual estimated effective tax rate applicable to the Company and its subsidiaries, adjusted for items which are considered discrete to the period.

The effective tax rates on income before income taxes for the year ended December 31, 2022 was 15.54%. The effective tax rate for the year ended December 31, 2022 was lower than the PRC tax rate of 25.0% primarily due to the China Super R&D deduction.

The effective tax rates on income before income taxes for the year ended December 31, 2021 was 20.23%. The effective tax rate for the year ended December 31, 2021 was lower than the PRC tax rate of 25.0% primarily due to the China Super R&D deduction.

The Company had recorded $0 unrecognized benefit as of December 31, 2022 and December 31, 2021, respectively. On the information currently available, the Company does not anticipate a significant increase or decrease to its unrecognized benefit within the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Commitments and Contingencies (Details) - Schedule of Non-Cancellable Future Minimum Lease Payments	Dec. 31, 2022 USD ($)
Schedule Of Non Cancellable Future Minimum Lease Payments Abstract
2023	$ 593,781
2024	585,127
2025	589,272
2026	606,354
Thereafter	624,034
Total lease payments	$ 2,998,568

Notes Receivable

12 Months Ended

Dec. 31, 2022

Notes Receivable [Abstract]

NOTES RECEIVABLE

NOTE 8 – NOTES RECEIVABLE

	As of
	December 31, 2022		December 31, 2021
Bank notes receivable:	$	26,713,919	$	36,075,366
Commercial notes receivable		2,034,960		1,475,755
Total	$	28,748,879	$	37,551,121

Bank notes and commercial notes are means of payment from customers for the purchase of the Company’s products and are issued by financial institutions or business entities, respectively, that entitle the Company to receive the full nominal amount from the issuers at maturity, which bear no interest and generally range from three to six months from the date of issuance. As of December 31, 2022, the Company pledged notes receivable for an aggregate amount of $15.51 million to Bank of Communications as a means of security for issuance of bank acceptance notes in an aggregate amount of $13.27 million. As of December 31, 2021, the Company pledged notes receivable for an aggregate amount of $28.14 million to Bank of Communications as a means of security for issuance of bank acceptance notes in an aggregate amount of $24.89 million. The Company expects to collect notes receivable within 6 months.

Property, Plant and Equipment and Construction in Progress (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

(a) As of December 31, 2022 and 2021, property, plant and equipment consisted of the following:

	As of
	December 31, 2022			December 31, 2021
Buildings	$	11,781,256		$	12,751,105
Machinery		21,010,613			21,930,452
Motor vehicles		315,708			341,697
Electronic equipment		223,806			206,122
Fixed assets decoration*		-			-
Total property plant and equipment, at cost		33,331,383			35,229,376

Less: accumulated depreciation		(17,763,247	)		(16,679,022	)
Property, plant and equipment, net	$	15,568,136		$	18,550,354
Construction in process		17,078			407,199
Total	$	15,585,214		$	18,957,553

Schedule of Assets Used As Security

Restricted assets consist of the following:

	As of
	December 31, 2022		December 31, 2021
Buildings, net	$	9,599,313	$	11,314,916
Machinery, net		-		2,201,707
Total		9,599,313		13,516,623

Accounts Receivable (Details) - Schedule of Accounts Receivable Net of Allowance for Doubtful Accounts - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of accounts receivable net of allowance for doubtful accounts [Abstract]
Accounts receivable	$ 15,100,085	$ 16,774,321
Less: allowance for doubtful accounts	(762,325)	(859,319)
Accounts receivable, net	$ 14,337,760	$ 15,915,002

Restatement of Previously Issued Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2022	Jul. 27, 2022
Restatement of Previously Issued Financial Statements (Details) [Line Items]
Purchase of warrants	4,530,000
Exercise price per share	$ 4.49	$ 4.49
Cenntro Holding Limited [Member]
Restatement of Previously Issued Financial Statements (Details) [Line Items]
Owed amount	$ 36,460

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Summary of Significant Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Principles of Consolidation

●

Zhongchai Holding’s operations comprise the ongoing operations of the combined entity;

●

The officers of the newly combined company consist of Zhongchai Holding’s executives, including the Chief Executive Officer, Chief Financial Officer and General Counsel; and

●

The former shareholders of Zhongchai Holding own a majority voting interest in the combined entity.

Use of Estimates

Non-controlling Interest

Foreign Currency Translation

	For the years ended December 31,
	2022		2021
Period end RMB: US$ exchange rate		6.8972		6.3726
Period average RMB: US$ exchange rate		6.7518		6.4424

Cash and Cash Equivalents

Restricted Cash

Fair Value of Financial Instruments

●

Level 1—defined as observable inputs such as quoted prices in active markets for identical assets or liabilities;

●

Level 2—defined as inputs other than quoted prices in active markets, that are either directly or indirectly observable; and

●

Level 3—defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Accounts Receivable

Inventories

Advance to Suppliers

Property, Plant, and Equipment

Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives are as follows:

Plant, buildings and improvements			20 years
Machinery and equipment			2~10 years
Motor vehicles			4 years
Office equipment			3~5 years
Fixed assets decoration			5 years

Land Use Rights

Impairment of Long-Lived Assets

Lease

Revenue Recognition

The Company’s contracts are all short-term in nature with a contract term of one year or less. Receivables are recorded when the Company has an unconditional right to consideration.

The following table sets forth disaggregation of revenue:

	For the years ended December 31,
	2022		2021
Major Product
Transmission boxes for Forklift	$	80,220,000	$	85,618,567
Transmission boxes for Non-Forklift (EV, etc.)		10,610,674		13,221,333
Total	$	90,830,674	$	98,839,900

Cost of Goods Sold

Selling Expenses

Selling expenses include operating expenses such as payroll and traveling and transportation expenses.

General and Administrative Expenses

Research and Development

Government Subsidies

Income Taxes

Value-Added Tax

Statutory Reserve

Comprehensive Income (Loss)

Earnings per share

Warrants (Restated)

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

Segments and Related Information

Commitments and contingencies

Related Party

Economic and Political Risks

Exchange Risk

Recently Issued Accounting Pronouncements

Recent accounting pronouncements that the Company has adopted or may be required to adopt in the future are summarized below:

Land Use Rights (Details) - Schedule of Land Use Rights - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Land Use Rights Abstract
Land use rights, cost	$ 4,460,738	$ 4,827,951
Less: Accumulated amortization	(821,671)	(792,753)
Land use rights, net	$ 3,639,067	$ 4,035,198

Lease (Details) - Schedule of Lease to the Property and Equipment	12 Months Ended
	Dec. 31, 2022 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$ 337,235
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 2,835,406

Property, Plant and Equipment and Construction in Progress (Details) ¥ in Thousands, $ in Thousands			1 Months Ended				12 Months Ended
	Jan. 03, 2019 USD ($)	Jan. 03, 2019 CNY (¥)	May 27, 2020 USD ($)	May 27, 2020 CNY (¥)	Apr. 26, 2019 USD ($)	Apr. 26, 2019 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 CNY (¥)
Property, Plant and Equipment and Construction in Progress (Details) [Line Items]
Ownership of buildings for net book value							$ 9,140		¥ 65,000
Loan facility with maximum exposure (in Yuan Renminbi) \| ¥									¥ 167,730
Aggregate proceeds	$ 3,080	¥ 21,250	$ 1,420	¥ 10,000	$ 2,120	¥ 14,660
Initial term	3 years	3 years	2 years	2 years	2 years	2 years
Property, Plant and Equipment [Member]
Property, Plant and Equipment and Construction in Progress (Details) [Line Items]
Depreciation expense amount							2,440	$ 2,510
Cost of revenue and inventories							1,470	1,530
Construction in progress fixed assets							$ 380	$ 0

Accounts Payable

12 Months Ended

Dec. 31, 2022

Accounts Payable [Abstract]

ACCOUNTS PAYABLE

NOTE 12 – ACCOUNTS PAYABLE

Accounts payable are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Procurement of Materials	$	24,541,774	$	28,076,580
Infrastructure & Equipment		207,587		870,616
Freight fee		67,804		116,936
Total	$	24,817,165	$	29,064,132

Short Term Bank Loans (Details) - Schedule of Short Term Loans - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Short Term Bank Loans (Details) - Schedule of Short Term Loans [Line Items]
Maturity Date	Total	Total
Total	$ 8,986,255	$ 8,760,945
Operating Loans [Member]
Short Term Bank Loans (Details) - Schedule of Short Term Loans [Line Items]
Maturity Date	August 29, 2023	August 23, 2022
Bank Name	Agricultural Bank of PRC	Agricultural bank of PRC
Interest Rate per Annum (%)	3.85%	4.57%
Total	$ 2,609,755	$ 2,954,837
Operating Loans One [Member]
Short Term Bank Loans (Details) - Schedule of Short Term Loans [Line Items]
Maturity Date	June 29, 2023	August 18, 2022
Bank Name	Bank of Communications	Rural commercial bank of Xinchang
Interest Rate per Annum (%)	3.85%	4.35%
Total	$ 1,449,864	$ 1,255,375
Operating Loans Two [Member]
Short Term Bank Loans (Details) - Schedule of Short Term Loans [Line Items]
Maturity Date	January 30, 2023	August 23, 2022
Bank Name	Bank of Ningbo	Rural commercial bank of Xinchang
Interest Rate per Annum (%)	1.12%	5.30%
Total	$ 1,012,005	$ 1,098,453
Operating Loans Three [Member]
Short Term Bank Loans (Details) - Schedule of Short Term Loans [Line Items]
Maturity Date	August 23, 2023	September 01, 2022
Bank Name	Rural Commercial Bank of Xinchang	Rural commercial bank of Xinchang
Interest Rate per Annum (%)	3.85%	4.35%
Total	$ 2,464,768	$ 2,667,671
Operating Loans Four [Member]
Short Term Bank Loans (Details) - Schedule of Short Term Loans [Line Items]
Maturity Date	February 23, 2023	January 21, 2022
Bank Name	Industrial and Commercial Bank of Xinchang	Rural commercial bank of Xinchang
Interest Rate per Annum (%)	4.05%	5.30%
Total	$ 1,449,863	$ 784,609

Inventories (Details) - Schedule of Inventories - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Inventories Abstract
Raw materials	$ 7,975,097	$ 9,789,196
Revolving material	1,122,313	1,078,292
Consigned processing material	15,056	67,706
Work-in-progress	2,255,453	2,620,821
Finished goods	12,104,309	12,271,252
Less: inventory impairment	(375,846)	(23,793)
Inventories, net	$ 23,096,382	$ 25,803,474

Other Long-Term Liabilities (Details) $ in Thousands	12 Months Ended
Other Long-Term Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Other Longterm Liabilities Disclosure Abstract
Grant income decreased	$ 400

Lease (Details) - Schedule of Lease Liabilities under Operating Leases	Dec. 31, 2022 USD ($)
Schedule Of Lease Liabilities Under Operating Leases Abstract
2023	$ 593,781
2024	585,127
2025	589,272
2026	606,354
Thereafter	624,034
Total lease payments	$ 2,998,568

Notes Payable

12 Months Ended

Dec. 31, 2022

Notes Payable [Abstract]

NOTES PAYABLE

NOTE 11 – NOTES PAYABLE

	As of
	December 31, 2022		December 31, 2021
Bank acceptance notes	$	28,272,472	$	42,093,061
Total	$	28,272,472	$	42,093,061

The interest-free notes payable, ranging from six months to one year from the date of issuance, were secured by $3.43 million and $6.74 million restricted cash, $15.51 million and $28.14 million notes receivable, and $3.64 million and $4.04 land use rights, as of December 31, 2022 and 2021, respectively.

All the notes payable are subject to bank charges of 0.05% of the principal amount as commission, included in the financial expenses in the statement of operations, on each loan transaction. The interest charge of notes payable is free.

Land Use Rights (Details) - Schedule of Estimated Future Amortization Expense	Dec. 31, 2022 USD ($)
Schedule Of Estimated Future Amortization Expense Abstract
2023	$ 91,136
2024	91,136
2025	91,136
2026	91,136
2027	91,136
Thereafter	3,183,387
Total	$ 3,639,067

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts (in Dollars)	$ 762,325	$ 859,319
Ordinary shares, par value (in Dollars per share)
Ordinary shares, authorized	12,978,504	12,978,504
Ordinary shares, issued	12,978,504	11,329,530
Ordinary shares, outstanding	12,978,504	11,329,530

Notes Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
Notes Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Notes Receivable (Details) [Line Items]
Security for issuance	$ 15,510	$ 28,140
Notes receivable	$ 13,270	$ 24,890
Notes Receivable [Member]
Notes Receivable (Details) [Line Items]
Notes receivable term	6 months

Accounts Receivable (Details) - Schedule of Allowance for Doubtful Accounts - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of allowance for doubtful accounts [Abstract]
Beginning balance	$ 859,319	$ 986,532
Provision for doubtful accounts	(32,316)	(149,172)
Effect of FX change	(64,678)	21,959
Ending balance	$ 762,325	$ 859,319

Property, Plant and Equipment and Construction in Progress (Details) - Schedule of Assets Used As Security - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of assets used as security [Abstract]
Buildings, net	$ 9,599,313	$ 11,314,916
Machinery, net		2,201,707
Total	$ 9,599,313	$ 13,516,623

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 23 – COMMITMENTS AND CONTINGENCIES

(1) Pledged collateral for bank loans

On December 23, 2020, Zhejiang Zhongchai signed a Maximum Amount Pledge Contract with Agricultural Bank of PRC Co., Ltd. Xinchang County Sub-Branch (“ABC Xinchang”), pledging its land use rights and property ownership as security to ABC Xinchang, for a loan facility with a maximum principal amount of RMB69.77 million during the period from November 17, 2020 to November 16, 2023. As of December 31, 2022 and December 31, 2021, the outstanding amount of the short-term bank loan under this pledge contract was RMB18.00 million and RMB18.83 million, respectively.

On September 21, 2020, Zhejiang Zhongchai signed a Maximum Amount Pledge Contract with Rural Commercial Bank of PRC Co., Ltd., pledging its land use rights and property ownership as security, for a loan facility with a maximum principal amount of RMB37.95 million during the period from September 21, 2020 to September 20, 2026. As of December 31, 2022 and December 31, 2021, the outstanding amount of the short-term bank loan under this pledge contract was RMB17.00 million and RMB25.00 million, respectively.

On June 27, 2022, Zhejiang Zhongchai signed a Maximum Amount Pledge Contract with Bank of Communications Co. LTD., pledging its land use rights and property ownership as security, for a loan facility with a maximum principal amount of RMB60.01 million during the period from June 27, 2022 to June 26, 2027. As of December 31, 2022 and December 31, 2021, the outstanding amount of the short-term bank loan under this pledge contract was RMB10.00 million and RMB0.00 million, respectively.

(3) Litigation

On October 14, 2019, the plaintiff, the Company and all other named defendants entered into a confidential memorandum of understanding (the “MOU”), pursuant to which a Stipulation and Order of Dismissal (“Stipulation of Dismissal”) of the Action was filed on October 14, 2019. The Stipulation of Dismissal was approved and entered by the District Court on October 15, 2019. Among other things, the Stipulation of Dismissal acknowledged that the Definitive Proxy Statement on Schedule 14A, filed with the Commission on December 1, 2020 mooted the plaintiff’s claims regarding the sufficiency of disclosures, dismissed all claims asserted in the Action, with prejudice as to the plaintiff only, permits the plaintiff to seek an award of attorneys’ fees in connection with the mooted claims, and reserves the defendants’ rights to oppose such an award, if appropriate. Pursuant to the MOU, the parties have engaged in discussions regarding the amount of attorneys’ fees, if any, to which the plaintiff’s counsel is entitled in connection with the Action. As of January 25, 2021, the Company settled with its counter party and paid a total of $65,000.

Facility Leases

The Company entered into a failed sale-leaseback transaction in August 2020. See further discussion in NOTE 16 –LONG TERM PAYABLES. The Company has leased premises for its offices under non-cancellable operating leases since May 2021 and its assembly site under non-cancellable operating leases since June 2022. See further discussion in NOTE 15 – LEASES.

Rent expense is recognized on a straight-line basis over the terms of the operating leases accordingly and the Company records the difference between cash rent payments and the recognition of rent expense as a deferred rent liability.

The following are the aggregate non-cancellable future minimum lease payments under operating and financing leases as of December 31, 2022:

For the years ending December 31,	Operating Leases
2023	$	593,781
2024		585,127
2025		589,272
2026		606,354
Thereafter		624,034
Total lease payments	$	2,998,568

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2022

Accounts Receivable [Abstract]

Schedule of Accounts Receivable Net of Allowance for Doubtful Accounts

Accounts receivable is net of allowance for doubtful accounts.

	As of
	December 31, 2022			December 31, 2021
Accounts receivable	$	15,100,085		$	16,774,321
Less: allowance for doubtful accounts		(762,325	)		(859,319	)
Accounts receivable, net	$	14,337,760		$	15,915,002

Schedule of Allowance for Doubtful Accounts

Changes in the allowance for doubtful accounts are as follows:

	As of
	December 31, 2022			December 31, 2021
Beginning balance	$	859,319		$	986,532
Provision for doubtful accounts		(32,316	)		(149,172	)
Effect of FX change		(64,678	)		21,959
Ending balance	$	762,325		$	859,319

Short Term Bank Loans

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

SHORT TERM BANK LOANS

NOTE 13 – SHORT TERM BANK LOANS

Short-term loans are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Collateralized bank loans	$	7,536,392	$	7,976,336
Unsecured bank loans		1,449,863		784,609
Total	$	8,986,255	$	8,760,945

Short-term loans as of December 31, 2022 are as follow:

Maturity Date	Type	Bank Name	Interest Rate per Annum (%)		December 31, 2022
August 29, 2023	Operating Loans	Agricultural Bank of PRC		3.85	$	2,609,755
June 29, 2023	Operating Loans	Bank of Communications		3.85	$	1,449,864
January 30, 2023	Operating Loans	Bank of Ningbo		1.12	$	1,012,005
August 23, 2023	Operating Loans	Rural Commercial Bank of Xinchang		3.85	$	2,464,768
February 23, 2023	Operating Loans	Industrial and Commercial Bank of Xinchang		4.05	$	1,449,863
Total					$	8,986,255

Short-term loans as of December 31, 2021 are as follow:

Maturity Date	Type	Bank Name	Interest Rate per Annum (%)		December 31, 2021
August 23, 2022	Operating Loans	Agricultural bank of PRC		4.57	$	2,954,837
August 18, 2022	Operating Loans	Rural commercial bank of Xinchang		4.35	$	1,255,375
August 23, 2022	Operating Loans	Rural commercial bank of Xinchang		5.30	$	1,098,453
September 01, 2022	Operating Loans	Rural commercial bank of Xinchang		4.35	$	2,667,671
January 21, 2022	Operating Loans	Rural commercial bank of Xinchang		5.30	$	784,609
Total					$	8,760,945

All short-term bank loans were obtained from local banks in the PRC and are repayable within one year.

The average annual interest rate of the short-term bank loans was 4.10% and 4.628% for the years ended December 31, 2022 and 2021, respectively. The Company was in compliance with its financial covenants as of December 31, 2022 and 2021, respectively.

Income Taxes (Restated) (Details) - USD ($)	12 Months Ended
Income Taxes (Restated) (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	15.54%	20.23%
PRC standard income tax rate	25.00%	25.00%
Unrecognized tax benefits (in Dollars)	$ 0	$ 0

Inventories (Details) - Schedule of Inventory Reserve - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Inventory Reserve Abstract
Beginning balance	$ 23,793
(Release of) inventory write-downs	359,534	23,536
Effect of FX change	(7,481)	257
Ending balance	$ 375,846	$ 23,793

Long Term Payables (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long Term Payables

	As of
	December 31, 2022		December 31, 2021
Long-term payables current portion	$	-	$	197,915
Long-term payables– non-current portion		-		-
Total	$	-	$	197,915

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

Property, Plant and Equipment and Construction in Progress

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT AND CONSTRUCTION IN PROGRESS

NOTE 9 – PROPERTY, PLANT AND EQUIPMENT AND CONSTRUCTION IN PROGRESS

(a) As of December 31, 2022 and 2021, property, plant and equipment consisted of the following:

	As of
	December 31, 2022			December 31, 2021
Buildings	$	11,781,256		$	12,751,105
Machinery		21,010,613			21,930,452
Motor vehicles		315,708			341,697
Electronic equipment		223,806			206,122
Fixed assets decoration*		-			-
Total property plant and equipment, at cost		33,331,383			35,229,376

Less: accumulated depreciation		(17,763,247	)		(16,679,022	)
Property, plant and equipment, net	$	15,568,136		$	18,550,354
Construction in process		17,078			407,199
Total	$	15,585,214		$	18,957,553

For the years ended December 31, 2022 and 2021, depreciation expense amounted to $2.44 million and $2.51 million, respectively, of which $1.47 million and $1.53 million, respectively, was included in cost of revenue and inventories, and the remainder was included in general and administrative expense, respectively.

For the years ended December 31, 2022 and 2021, $0.38 million and $0 million of construction in progress were converted into fixed assets.

Restricted assets consist of the following:

	As of
	December 31, 2022		December 31, 2021
Buildings, net	$	9,599,313	$	11,314,916
Machinery, net		-		2,201,707
Total		9,599,313		13,516,623

As of December 31, 2022, 2022, the Company pledged its ownership interests in certain buildings for the book value of RMB65.00 million ($9.14 million) as security to ABC Xinchang and Rural Commercial Bank of PRC Co., Ltd., for loan facilities with an aggregate maximum principal amount of RMB167.73 million.

On April 26, 2019, the Company sold various equipment including the general assembly line and the differential assembly line to third parties for aggregate proceeds of $2.12 million (RMB14.66 million) and the Company entered into lease agreements under which the Company agreed to lease back each of the properties for an initial term of 2 years.

On May 27, 2020, the Company sold various equipment including the general assembly line and the differential assembly line to third parties for aggregate proceeds of $1.42 million (RMB10.00 million) and the Company entered into lease agreements under which the Company agreed to lease back each of the properties for an initial term of 2 years.

The Company determined that it did not relinquish control of the assets to the buyer-lessor. Therefore, the Company accounted for the transactions as failed sale-leaseback transactions whereby the Company continues to depreciate the assets and recorded a financing obligation for the consideration received from the buyer-lessor.

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Oct. 24, 2019	Dec. 31, 2017
Summary of Significant Accounting Policies (Textual)
Allowance of doubtful accounts	$ 760,000	$ 860,000
Advance to suppliers	$ 410,000	$ 430,000
Straight-line method lease term	50 years
Implicit interest rate	5.00%
Short-term Investment	The Company’s office leases have a 3-year term and the lease of its assembly site has a 5.5-year term.
Revenue recognition description		The Company derives revenues from the processing, distribution and sale of its products. The Company recognizes its revenues net of value-added taxes (“VAT”). The Company is subject to VAT which had been levied at the rate of 17% on the invoiced value of sales until April 30, 2018, after which date the rate was reduced to 16%. VAT rate was further reduced to 13% starting from April 1, 2019. Output VAT is borne by customers in addition to the invoiced value of sales and input VAT is borne by the Company in addition to the invoiced value of purchases to the extent not refunded for export sales.
Total revenue of Greenland	0.00%
Total sales return, percentage		1.01%
Research and development costs	$ 5,786,946	$ 5,526,546
Other long-term liabilities	$ 1,810,000	$ 2,210,000
Income tax rate	50.00%
Owned foreign enterprise percentage	10.00%
Registered capital percentage	50.00%
Ownership percentage	10.00%
PRC [Member]
Summary of Significant Accounting Policies (Textual)
Value added tax description	The VAT standard rate had been 17% of the gross sale price until April 30, 2018, after which date the rate was reduced to 16%. VAT rate was further reduced to 13% starting from April 1, 2019.
Zhongchai Holding [Member]
Summary of Significant Accounting Policies (Textual)
Shares received (in Shares)			7,500,000	7,500,000

Restatement of Previously Issued Financial Statements (Details) - Schedule of Consolidated Statements of Cash Flow	12 Months Ended
	Dec. 31, 2022 USD ($)
Previously Reported [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 6,616,695
Change in fair value of the warrant liability
Revision of Prior Period, Adjustment [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	(2,814,012)
Change in fair value of the warrant liability	2,814,012
As Restated [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	3,802,683
Change in fair value of the warrant liability	$ 2,814,012

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-19

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 33: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

+ Details

Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives	Dec. 31, 2022
Plant, buildings and improvements [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	20 years
Machinery and equipment [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	2 years
Machinery and equipment [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	10 years
Motor vehicles [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	4 years
Office equipment [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	3 years
Office equipment [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	5 years
Fixed assets decoration [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives [Line Items]
Estimated useful lives	5 years

Related Party Transactions (Restated) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Other receivables	$ 36,460	$ 39,460

Related Party Transactions (Restated) (Details) - Schedule of Due To Related Parties - USD ($)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Due to related parties:

Total

$ 1,693,315

$ 3,619,459

Zhejiang Zhonggong Machinery Co., Ltd. [Member]

Due to related parties:

Total

^[1]

64,563

409,807

Cenntro Smart Manufacturing Tech. Co., Ltd. [Member]

Due to related parties:

Total

^[2]

2,683

2,903

Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) [Member]

Due to related parties:

Total

^[3]

94,442

Cenntro Holding Limited [Member]

Due to related parties:

Total

^[4]

1,341,627

Cenntro Automotive Corporation [Member]

Due to related parties:

Total

^[4]

11,462

Xinchang County Jiuxin Investment Management Partnership (LP) [Member]

Due to related parties:

Total

^[4]

1,569,218

Hangzhou Jiuru Economic Information Consulting Co. Ltd [Member]

Due to related parties:

Total

^[4]

$ 190,000

[1]	Unpaid balances for purchasing of materials and equipment and temporary borrowing from Zhejiang Zhonggong Machinery Co., Ltd.;
[2]	Prepayment from Cenntro Smart Manufacturing Tech. Co., Ltd.
[3]	Temporary borrowings from Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership); and
[4]	Borrowings from related parties.

Shareholders’ Equity

12 Months Ended

Dec. 31, 2022

Shareholders’ Equity [Abstract]

SHAREHOLDERS’ EQUITY

NOTE 19 – SHAREHOLDER’S EQUITY

Preferred Shares — The Company is authorized to issue an unlimited number of no par value preferred shares, divided into five classes, Class A through Class E, each with such designation, rights and preferences as may be determined by a resolution of the Company’s board of directors to amend the Memorandum and Articles of Association to create such designations, rights and preferences. The Company has five classes of preferred shares to give the Company flexibility as to the terms on which each class is issued. All shares of a single class must be issued with the same rights and obligations. Accordingly, starting with five classes of preferred shares will allow the Company to issue shares at different times on different terms. As of December 31, 2022 and December 31, 2021, the Company had no preferred shares designated, issued or outstanding.

Ordinary Shares — The Company is authorized to issue an unlimited number of no par value ordinary shares. Holders of the Company’s ordinary shares are entitled to one vote for each share. As of December 31, 2022 and December 31, 2021, there were 12,978,504 and 11,329,530 ordinary shares issued and outstanding, respectively.

On July 27, 2018, the Company consummated its initial public offering of 4,400,000 units, including a partial exercise by the underwriters of their over-allotment option in the amount of 400,000 units. Each unit consists of one ordinary share, no par value, one warrant to purchase one-half of one ordinary share and one right to receive one-tenth of one ordinary share upon the consummation of its initial business combination.

Simultaneously with the consummation of its initial public offering, the Company completed a private placement of 282,000 units, issued to Greenland Asset Management Corporation (the “Sponsor”) and Chardan Capital Markets, LLC (“Chardan”).

In 2019, in connection with the Business Combination, 3,875,458 shares were redeemed and 81,400 shares were converted into ordinary shares, 1,906,542 ordinary shares were left outstanding upon consummation of the reverse recapitalization.

Pursuant to the Share Exchange Agreement dated as of July 12, 2019 by and among (i) Greenland, (ii) Zhongchai Holding, (iii) the Sponsor in the capacity as the purchaser representative, and (iv) Cenntro Holding Limited, the sole member of Zhongchai Holding (the “Share Exchange Agreement”), Greenland acquired from Cenntro Holding Limited all of the issued and outstanding equity interests of Zhongchai Holding in exchange for 7,500,000 newly issued ordinary shares, no par value of Greenland, to be issued to Cenntro Holding Limited (the “Exchange Shares”). As a result, Cenntro Holding Limited became the controlling shareholder of Greenland, and Zhongchai Holding became a directly and wholly owned subsidiary of Greenland. The Business Combination was accounted for as a reverse merger effected by a share exchange, wherein Zhongchai Holding is considered the acquirer for accounting and financial reporting purposes. The recapitalization of the number of ordinary shares attributable to the purchase of Zhongchai Holding in connection with the Business Combination is reflected retroactively to December 31, 2017 and will be utilized for calculating earnings per share in all prior periods presented. The impact of the stock exchange is also shown on the Company’s Statements of Shareholders’ Equity.

Pursuant to that certain Finder Agreement with Hanyi Zhou, dated May 29, 2019, 50,000 newly issued ordinary shares were issued to Zhou Hanyi as a finder’s fee for the Business Combination.

In connection with the Business Combination, all the outstanding rights of the Company were converted into 468,200 ordinary shares on a one-tenth (1/10) ordinary share per right basis if holders of the rights elected to convert their rights into underlying ordinary shares.

On October 24, 2020, the Company’s board of directors held a meeting and executed resolutions to approve the issuance of 120,000 ordinary shares to Raymond Wang, the Company’s chief executive officer, to offset unpaid salary to him in the amount of $120,833.33 and the issuance of 135,000 ordinary shares to Jing Jin, the Company’s chief financial officer, to offset unpaid salary to him in the amount of $60,000 and his personal loan to the Company in the amount of $75,000. On November 10, 2020, the Company issued 135,000 ordinary shares to Jing Jin. On December 30, 2020 and February 8, 2021, the Company issued 69,000 and 51,000 ordinary shares to Raymond Wang, respectively. In February 2021, the Company issued 48,344 ordinary shares from the exercise of warrants by certain warrant holders. On March 4, 2021, the Company issued 132,000 ordinary shares to Chardan from the exercise of Chardan’s unit purchase option to purchase 120,000 units. On April 19, 2021, the Company issued 2,500 ordinary shares to each of Peter Zuguang Wang, Charles Athle Nelson, Everett Xiaolin Wang, Ming Zhao and Bo Shen. On April 20, 2021, the Company issued 2,700 ordinary shares to Xiaqing Yang. On June 30, 2021, the Company closed a firm commitment offering of 857,844 ordinary shares at $8.16 per share with gross proceeds of $7,000,007 under its effective shelf registration statement. On July 27, 2022, the Company closed a firm commitment offering of 1,250,000 ordinary shares and 398,974 pre-funded warrants at $4.17 per share and $4.169 per pre-funded warrant with gross proceeds of $6,876,222 under its effective shelf registration statement.

Rights — Each holder of a right was entitled to receive one-tenth (1/10) of one ordinary share upon consummation of the Business Combination.

As of December 31, 2022, all of the existing Rights were converted into 468,200 ordinary shares as a result of the Business Combination.

Warrants — Redeemable warrants sold as part of the units in the Company initial public offering, or the Public Warrants (together with the Private Warrants (as defined below), the “Warrants”), may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants have been exercisable since October 24, 2019. No Public Warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the ordinary shares issuable upon exercise of the Public Warrants and a current prospectus relating to such ordinary shares. Notwithstanding the foregoing, if a registration statement covering the ordinary shares issuable upon the exercise of the Public Warrants is not effective within 90 days from the consummation of a Business Combination, the holders may, until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise the Public Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act of 1933, as amended. If an exemption from registration is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation.

The Company may call the warrants for redemption (excluding the Private Warrants (as defined below)), in whole and not in part, at a price of $0.01 per warrant:

●

At any time while the Public Warrants are exercisable,

●

Upon not less than 30 days’ prior written notice of redemption to each Public Warrant holder,

●

If, and only if, the reported last sale price of the ordinary shares equals or exceeds $16.50 per share, for any 20 trading days within a 30 trading day period ending on the third trading day prior to the notice of redemption to Public Warrant holders, and

●

If, and only if, there is a current registration statement in effect with respect to the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption.

If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. Accordingly, the warrants may expire worthless.

Private warrants include (i) the 282,000 warrants underlying the units issued to the Sponsor and Chardan in a private placement in connection with our initial public offering (“Private Unit Warrants”), and (ii) 120,000 warrants held by Chardan upon the exercise of its unit purchase option to purchase 120,000 units in March 2021 (“Option Warrants,” together with Private Unit Warrants, the “Private Warrants”). The Private Warrants are identical to the Public Warrants underlying the units sold in the Initial Public Offering, except that the Private Warrants and the ordinary shares issuable upon the exercise of the Private Warrants are not transferable, assignable or saleable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Warrants are exercisable on a cashless basis and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

As of December 31, 2022, there were a total of 4,705,312 Warrants outstanding, including 4,303,312 Public Warrants held by CEDE & CO, and 142,000 and 260,000 Private Warrants held by Chardan and the Sponsor, respectively.

Unit Purchase Option

On July 27, 2018, the Company sold to Chardan (and its designees), for $100, an option to purchase up to 240,000 units exercisable at $11.50 per unit (or an aggregate exercise price of $2,760,000), commencing on the consummation of the Business Combination. The unit purchase option may be exercised for cash or on a cashless basis, at the holder’s option, and expires July 24, 2023. The units issuable upon exercise of the option are identical to those offered in the initial public offering. The Company accounted for the unit purchase option, inclusive of the receipt of $100 cash payment, as an expense of the initial public offering resulting in a charge directly to shareholders’ equity. The option and such units purchased pursuant to the option, as well as the ordinary shares underlying such units, the rights included in such units, the ordinary shares that are issuable for the rights included in such units, the warrants included in such units, and the shares underlying such warrants, have been deemed compensation by FINRA and are therefore subject to a 180-day lock-up pursuant to Rule 5110(g) (1) of FINRA’s Nasdaq Conduct Rules. Additionally, the option may not be sold, transferred, assigned, pledged or hypothecated for a one-year period (including the foregoing 180-day period) following the date of initial public offering except to any underwriter and selected dealer participating in the initial public offering and their bona fide officers or partners. The option grants to holders demand and “piggy back” rights for periods of five and seven years, respectively, from the effective date of the registration statement with respect to the registration under the Securities Act of 1933, as amended, of the securities directly and indirectly issuable upon exercise of the option. The Company will bear all fees and expenses attendant to registering the securities, other than underwriting commissions which will be paid for by the holders themselves. The exercise price and number of units issuable upon exercise of the option may be adjusted in certain circumstances including in the event of a stock dividend, or the Company’s recapitalization, reorganization, merger or consolidation. However, the option will not be adjusted for issuances of ordinary shares at a price below its exercise price. As of December 31, 2022, an option exercisable by Chardan for 120,000 units is outstanding.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Restatement of Previously Issued Financial Statements (Details) - Schedule of Consolidated Statements of Income and Comprehensive Incomes	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares
Previously Reported [Member]
Condensed Income Statements, Captions [Line Items]
Change in fair value of the warrant liability
INCOME BEFORE INCOME TAX	7,316,386
NET INCOME	6,616,695
NET INCOME ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES	3,559,565
Comprehensive income (loss)	$ (286,253)
NET INCOME(LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY:
Basic (in Dollars per share) \| $ / shares	$ 0.3
Revision of Prior Period, Adjustment [Member]
Condensed Income Statements, Captions [Line Items]
Change in fair value of the warrant liability	$ (2,814,012)
INCOME BEFORE INCOME TAX	(2,814,012)
NET INCOME	(2,814,012)
NET INCOME ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES	(2,814,012)
Comprehensive income (loss)	$ (2,814,012)
NET INCOME(LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY:
Basic (in Dollars per share) \| $ / shares	$ (0.24)
As Restated [Member]
Condensed Income Statements, Captions [Line Items]
Change in fair value of the warrant liability	$ (2,814,012)
INCOME BEFORE INCOME TAX	4,502,374
NET INCOME	3,802,683
NET INCOME ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES	745,553
Comprehensive income (loss)	$ (3,100,265)
NET INCOME(LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY:
Basic (in Dollars per share) \| $ / shares	$ 0.06

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 16,295,695	$ 11,062,590
Restricted cash	3,433,361	6,738,302
Short Term Investment	7,800,723	2,105,938
Notes receivable	28,748,879	37,551,121
Accounts receivable, net of allowance for doubtful accounts of $762,325 and $859,319, respectively	14,337,760	15,915,002
Inventories	23,096,382	25,803,474
Due from related parties-current	30,214,245	39,679,565
Advance to suppliers	412,766	434,893
Prepayments and other current assets	1,568,687	14,518
Total Current Assets	125,908,498	139,305,403
Non-current asset
Property, plant, equipment and construction in progress, net	15,585,214	18,957,553
Land use rights, net	3,639,067	4,035,198
Other intangible assets	147,465
Long term investment	250,000
Due from related parties-non current	6,455,662
Deferred tax assets	219,207	141,623
Goodwill		3,890
Operating lease right-of-use assets	2,627,110	80,682
Other non-current assets	283,118	44,093
Total non-current assets	29,206,843	23,263,039
TOTAL ASSETS	155,115,341	162,568,442
Current Liabilities
Short-term bank loans	8,986,255	8,760,945
Notes payable-bank acceptance notes	28,272,472	42,093,061
Accounts payable	24,817,165	29,064,132
Taxes payables	192,478	108,058
Customer deposits	227,432	387,919
Due to related parties	1,693,315	3,619,459
Other current liabilities	1,547,390	1,198,427
Current portion of operating lease liabilities	472,182	33,308
Lease obligations - current		197,915
Total current liabilities	66,208,689	85,463,224
Long-term liabilities
Long term operating lease liabilities	2,176,130	47,614
Other long-term liabilities	1,812,759	2,212,938
Warrant liability	5,483,379
Total long-term liabilities	9,472,268	2,260,552
TOTAL LIABILITIES	75,680,957	87,723,776
COMMITMENTS AND CONTINGENCIES
EQUITY
Ordinary shares, no par value, 12,978,504 shares authorized; 12,978,504 and 11,329,530 shares issued and outstanding as of December 31, 2022 and December 31, 2021.
Additional paid-in capital	30,286,560	23,759,364
Statutory reserves	3,842,331	3,842,331
Retained earnings	34,414,249	33,668,696
Accumulated other comprehensive income (loss)	(2,831,419)	1,014,399
Total shareholders’ equity	65,711,721	62,284,790
Non-controlling interest	13,722,663	12,559,876
TOTAL EQUITY	79,434,384	74,844,666
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 155,115,341	$ 162,568,442

Warrant Liability (Restated) (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Reporting Period End Remeasurement Dates

Significant inputs into the model as of the reporting period begin remeasurement dates, and as of the reporting period end remeasurement dates are as follows:

	Ordinary Share Warrants			Ordinary Share Warrants
	December 31, 2022			July 27, 2022

Share price	$	2.18		$	4.31
Exercise price	$	4.49		$	4.49
Annual dividend yield		-	%		-	%

Expected term (years)	2.57		3.00
Risk-free interest rate	4.3	%	2.9	%
Expected volatility	120.00	%	140.0	%

Schedule of Warrants Outstanding and Fair Values

The warrants outstanding and fair values at each of the respective valuation dates are summarized below:

	As of
	December 31, 2022		December 31, 2022
Number of ordinary share warrants		4,530,000		-
Fair value of the warrants	$	5,483,379	$	-

Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2022

Other Long-Term Liabilities [Abstract]

OTHER LONG-TERM LIABILITIES

NOTE 15 – OTHER LONG-TERM LIABILITIES

Other long-term liabilities are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Subsidy		1,812,759		2,212,938
Total	$	1,812,759	$	2,212,938

Subsidy mainly consists of an incentive granted by the Chinese government to encourage transformation of fixed assets in China and other miscellaneous subsidy from the Chinese government. As of December 31, 2022, grant income decreased by $0.40 million, as compared to December 31, 2021. The change was mainly due to timing of incurring qualifying expenses.

Short Term Bank Loans (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Short Term Bank Loans

Short-term loans are summarized as follow:

	As of
	December 31, 2022		December 31, 2021
Collateralized bank loans	$	7,536,392	$	7,976,336
Unsecured bank loans		1,449,863		784,609
Total	$	8,986,255	$	8,760,945

Schedule of Short Term Loans

Short-term loans as of December 31, 2022 are as follow:

Maturity Date	Type	Bank Name	Interest Rate per Annum (%)		December 31, 2022
August 29, 2023	Operating Loans	Agricultural Bank of PRC		3.85	$	2,609,755
June 29, 2023	Operating Loans	Bank of Communications		3.85	$	1,449,864
January 30, 2023	Operating Loans	Bank of Ningbo		1.12	$	1,012,005
August 23, 2023	Operating Loans	Rural Commercial Bank of Xinchang		3.85	$	2,464,768
February 23, 2023	Operating Loans	Industrial and Commercial Bank of Xinchang		4.05	$	1,449,863
Total					$	8,986,255

Maturity Date	Type	Bank Name	Interest Rate per Annum (%)		December 31, 2021
August 23, 2022	Operating Loans	Agricultural bank of PRC		4.57	$	2,954,837
August 18, 2022	Operating Loans	Rural commercial bank of Xinchang		4.35	$	1,255,375
August 23, 2022	Operating Loans	Rural commercial bank of Xinchang		5.30	$	1,098,453
September 01, 2022	Operating Loans	Rural commercial bank of Xinchang		4.35	$	2,667,671
January 21, 2022	Operating Loans	Rural commercial bank of Xinchang		5.30	$	784,609
Total					$	8,760,945

Short Term Bank Loans (Details) - Schedule of Short Term Bank Loans - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Short Term Bank Loans Abstract
Collateralized bank loans	$ 7,536,392	$ 7,976,336
Unsecured bank loans	1,449,863	784,609
Total	$ 8,986,255	$ 8,760,945