we intend to gradually form motor load performance for peak and low-hours , which will account for about 3 % of the annual maximum power load on the demand side and to ensure the electricity supply and demand balance for situations of non-severe power shortages . in december 2019 , a novel strain of coronavirus ( covid-19 ) was reported in wuhan , china . the world health organization has declared the outbreak to constitute a “ public health emergency of international concern . ” this pandemic , which continues to spread to additional countries , and is disrupting supply chains and affecting production and sales across a range of industries as a result of quarantines , facility closures , and travel and logistics restrictions in connection with the outbreak . therefore , the company expects this matter to negatively impact its operating results even though china is opening up most of the cities and industries as of this report date . however , the related financial impact can not be reasonably estimated at this time . for the years ended december 31 , 2019 and 2018 , the company had a net loss of $ 8.77 million and $ 66.00 million , respectively . the company has an accumulated deficit of $ 46.45 million as of december 31 , 2019. the company is in the process of transforming and expanding into an energy storage integrated solution provider as described above . the historical operating results indicate substantial doubt exists related to the company 's ability to continue as a going concern . however , the company had $ 16.22 million cash on hand at december 31 , 2019 and has collected rmb 327.60 million ( $ 46.96 million ) in 2020 up to this report date , this also satisfies the company 's estimated liquidity needs 12 months from the issuance of the financial statements . the company believes that the actions discussed above are probable of occurring and the occurrence , as well as the cash flow discussed , mitigate the substantial doubt raised by its historical operating results . management also intends to raise additional funds by way of a private or public offering , or by obtaining loans from banks or others . while the company believes in the viability of its strategy to generate sufficient revenue and in its ability to raise additional funds on reasonable terms and conditions , there can be no assurances to that effect . the ability of the company to continue as a going concern is dependent upon the company 's ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering , or debt financing including bank loans . our subsidiaries our business is primarily conducted through our wholly-owned subsidiaries , sifang holdings co. , ltd. ( “ sifang ” ) and shanghai yinghua financial leasing co. , ltd ( “ yinghua ” ) ; sifang 's wholly-owned subsidiaries , huahong new energy technology co. , ltd. ( “ huahong ” ) and shanghai tch energy tech co. , ltd. ( “ shanghai tch ” ) ; shanghai tch 's wholly-owned subsidiary , xi'an tch energy technology company , ltd ( “ xi'an tch ” ) ; xi'an tch 's wholly-owned subsidiaries , erdos tch energy saving development co. , ltd ( “ erdos tch ” ) and zhongxun energy investment ( beijing ) co. , ltd ( “ zhongxun ” ) ; and xi'an tch 's 90 % and shanghai tch 's 10 % owned subsidiary , xi'an zhonghong new energy technology co. , ltd. ( “ zhonghong ” ) . zhonghong provides energy saving solutions and services , including constructing , selling and leasing energy saving systems and equipment to customers , project investment . 33 the company 's organizational chart as of december 31 , 2019 is as follows : creg legal structure shanghai tch and its subsidiaries shanghai tch was established as a foreign investment enterprise in shanghai under the laws of the prc on may 25 , 2004 and has registered capital of $ 29.80 million . xi'an tch was incorporated in xi'an , shaanxi province under the laws of the prc on november 8 , 2007. in february 2009 , huahong was incorporated in xi'an , shaanxi province . erdos tch was incorporated in april 2009 in erdos , inner mongolia autonomous region . on july 19 , 2013 , xi'an tch formed xi'an zhonghong new energy technology co. , ltd ( “ zhonghong ” ) . xi'an tch owns 90 % and shanghai tch owns 10 % of zhonghong . as of december 31 , 2019 , shanghai tch , through its subsidiaries , had sales or sales-type leases with pucheng for two biomass power generation ( “ bmpg ” ) systems . the fund management company and the hyref fund on june 25 , 2013 , xi'an tch and hongyuan huifu venture capital co. ltd ( “ hongyuan huifu ” ) established beijing hongyuan recycling energy investment management company ltd. ( the “ fund management company ” ) with registered capital of rmb 10 million ( $ 1.45 million ) . xi'an tch made an initial capital contribution of rmb 4 million ( $ 650,000 ) and has 40 % ownership interest in the fund management company . with respect to the fund management company , voting rights and dividend rights are allocated 80 % and 20 % between hongyuan huifu and xi'an tch , respectively . 34 the fund management company is the general partner of beijing hongyuan recycling energy investment center , llp ( the “ hyref fund ” ) , a limited liability partnership established july 18 , 2013 in beijing . the fund management company made an initial capital contribution of rmb 5 million ( $ 830,000 ) to the hyref fund . story_separator_special_tag 37 on july 24 , 2013 , zhonghong entered into a cooperative agreement of cdq and cdq whpg project with boxing county chengli gas supply co. , ltd. ( “ chengli ” ) . the parties entered into a supplement agreement on july 26 , 2013. pursuant to these agreements , zhonghong agreed to design , build and maintain a 25 mw cdq system and a cdq whpg system to supply power to chengli , and chengli agreed to pay energy saving fees ( the “ chengli project ” ) . chengli will contract the operation of the system to a third party contractor that is mutually agreed to by zhonghong . in addition , chengli will provide the land for the cdq system and cdq whpg system at no cost to zhonghong . the term of these agreements is 20 years . the watt hours generated by the chengli project will be charged at rmb 0.42 ( $ 0.068 ) per kwh ( excluding tax ) . the operating time shall be based upon an average 8,000 hours annually . if the operating time is less than 8,000 hours per year due to a reason attributable to chengli , then time charged shall be 8,000 hours a year , and if it is less than 8,000 hours due to a reason attributable to zhonghong , then it shall be charged at actual operating hours . the construction of the chengli project was completed in the second quarter of 2015 and the project successfully completed commissioning tests in the first quarter of 2017. the chengli project is now operational , however , due to intensifying environmental protection , the local environmental authorities required the project owner constructing cdq sewage treatment to complete supporting works , which were completed and passed through acceptance inspection during the quarter ended september 30 , 2018. however , the owner of chengli project changed from chengli to shandong boxing shengli technology company ltd. ( “ shengli ” ) . this change resulted from transfer of the equity ownership of chengli to shengli ( a private company ) in march 2014. chengli , a 100 % state-owned enterprise that is 100 % owned by the local power supply bureau , is no longer allowed to carry out business activities , and shengli , the new owner , is not entitled to the high on-grid prices , and thus demanded a renegotiation of the settlement terms for the project . the company negotiated with the new project owner on the lease term , settlement method and settlement price , but no agreement has been reached . on july 22 , 2013 , zhonghong entered into an engineering , procurement and construction ( “ epc ” ) general contractor agreement for the boxing county chengli gas supply co. , ltd. cdq power generation project ( the “ chengli project ” ) with xi'an huaxin new energy co. , ltd. ( “ huaxin ” ) . zhonghong , as the owner of the chengli project , contracted epc services for a cdq system and a 25 mw cdq whpg system for chengli to huaxin . huaxin shall provide construction , equipment procurement , transportation , installation and adjustment , test run , construction engineering management and other necessary services to complete the chengli project and ensure the cdq system and cdq whpg system for chengli meet the inspection and acceptance requirements and work normally . the chengli project is a turn-key project in which huaxin is responsible for monitoring the quality , safety , duration and cost of the chengli project . the total contract price is rmb 200 million ( $ 33.34 million ) , which includes all materials , equipment , labor , transportation , electricity , water , waste disposal , machinery and safety costs . on december 29 , 2018 , xi'an zhonghong , xi'an tch , the “ hyref ” , guohua ku , and mr. chonggong bai entered into a cdq whpg station fixed assets transfer agreement , pursuant to which xi'an zhonghong transferred chengli cdq whpg station as the repayment for the loan of rmb 188,639,400 ( $ 27.54 million ) to hyref . xi'an zhonghong , xi'an tch , guohua ku and chonggong bai also agreed to buy back the cdq whpg station when conditions under the buy back agreement are met ( see note 10 ) . the transfer was completed january 22 , 2019 , and the company recorded $ 624,133 loss from this transfer . since the original terms of buy back agreement are still valid , the buy back possibility is uncertain ; therefore , the assets of chengli cdq whpg station , and the corresponding loan principal and interest , can not be terminated due to the existence of buy back clauses . 38 tianyu waste heat power generation project on july 19 , 2013 , zhonghong entered into a cooperative agreement ( the “ tianyu agreement ” ) for energy management of cdq and cdq whpg with jiangsu tianyu energy and chemical group co. , ltd ( “ tianyu ” ) . pursuant to the tianyu agreement , zhonghong will design , build , operate and maintain two sets of 25 mw cdq and cdq whpg systems for two subsidiaries of tianyu – xuzhou tian'an chemical co. , ltd ( “ xuzhou tian'an ” ) and xuzhou huayu coking co. , ltd. ( “ xuzhou huayu ” ) – to be located at xuzhou tian'an and xuzhou huayu 's respective locations ( the “ tianyu project ” ) . upon completion of the tianyu project , zhonghong will charge tianyu an energy saving fee of rmb 0.534 ( $ 0.087 ) per kwh ( excluding tax ) . the operating time will be based upon an average 8,000 hours annually for each of xuzhou tian'an and xuzhou huayu . if the operating time is less than 8,000 hours per year due to a reason attributable

liquidity and capital resources comparison of years ended december 31 , 2019 and 2018 as of december 31 , 2019 , the company had cash and equivalents of $ 16.22 million , other current assets of $ 48.40 million , current liabilities of $ 36.25 million , working capital of $ 28.37 million , a current ratio of 1.78:1 and a liability-to-equity ratio of 0.57:1. the following is a summary of cash provided by or used in each of the indicated types of activities during the years ended december 31 , 2019 and 2018 : 2019 2018 cash provided by ( used in ) : operating activities $ ( 14,649,028 ) $ 2,168,285 investing activities 5,074 - financing activities ( 21,816,293 ) 3,689,190 45 net cash used in operating activities was $ 14.65 million during the year ended december 31 , 2019 , compared to $ 2.17 million cash provided by operating activities for the year ended december 31 , 2018. the increase in net cash outflow for the year ended december 31 , 2019 was mainly due to increased cash outflow of interest payable on entrusted loan by $ 19,185,209 which was partly offset by decrease cash inflow of accounts receivable by $ 2,542,534. net cash provided by investing activities was $ 5,074 and $ nil , respectively , for the years ended december 31 , 2019 and 2018. for the year endeddecember 31 , 2019 , $ 5,074 was the proceeds from disposal of the fixed assets .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources comparison of years ended december 31 , 2019 and 2018 as of december 31 , 2019 , the company had cash and equivalents of $ 16.22 million , other current assets of $ 48.40 million , current liabilities of $ 36.25 million , working capital of $ 28.37 million , a current ratio of 1.78:1 and a liability-to-equity ratio of 0.57:1. the following is a summary of cash provided by or used in each of the indicated types of activities during the years ended december 31 , 2019 and 2018 : 2019 2018 cash provided by ( used in ) : operating activities $ ( 14,649,028 ) $ 2,168,285 investing activities 5,074 - financing activities ( 21,816,293 ) 3,689,190 45 net cash used in operating activities was $ 14.65 million during the year ended december 31 , 2019 , compared to $ 2.17 million cash provided by operating activities for the year ended december 31 , 2018. the increase in net cash outflow for the year ended december 31 , 2019 was mainly due to increased cash outflow of interest payable on entrusted loan by $ 19,185,209 which was partly offset by decrease cash inflow of accounts receivable by $ 2,542,534. net cash provided by investing activities was $ 5,074 and $ nil , respectively , for the years ended december 31 , 2019 and 2018. for the year endeddecember 31 , 2019 , $ 5,074 was the proceeds from disposal of the fixed assets .
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 Suspicious Activity Report : we intend to gradually form motor load performance for peak and low-hours , which will account for about 3 % of the annual maximum power load on the demand side and to ensure the electricity supply and demand balance for situations of non-severe power shortages . in december 2019 , a novel strain of coronavirus ( covid-19 ) was reported in wuhan , china . the world health organization has declared the outbreak to constitute a “ public health emergency of international concern . ” this pandemic , which continues to spread to additional countries , and is disrupting supply chains and affecting production and sales across a range of industries as a result of quarantines , facility closures , and travel and logistics restrictions in connection with the outbreak . therefore , the company expects this matter to negatively impact its operating results even though china is opening up most of the cities and industries as of this report date . however , the related financial impact can not be reasonably estimated at this time . for the years ended december 31 , 2019 and 2018 , the company had a net loss of $ 8.77 million and $ 66.00 million , respectively . the company has an accumulated deficit of $ 46.45 million as of december 31 , 2019. the company is in the process of transforming and expanding into an energy storage integrated solution provider as described above . the historical operating results indicate substantial doubt exists related to the company 's ability to continue as a going concern . however , the company had $ 16.22 million cash on hand at december 31 , 2019 and has collected rmb 327.60 million ( $ 46.96 million ) in 2020 up to this report date , this also satisfies the company 's estimated liquidity needs 12 months from the issuance of the financial statements . the company believes that the actions discussed above are probable of occurring and the occurrence , as well as the cash flow discussed , mitigate the substantial doubt raised by its historical operating results . management also intends to raise additional funds by way of a private or public offering , or by obtaining loans from banks or others . while the company believes in the viability of its strategy to generate sufficient revenue and in its ability to raise additional funds on reasonable terms and conditions , there can be no assurances to that effect . the ability of the company to continue as a going concern is dependent upon the company 's ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering , or debt financing including bank loans . our subsidiaries our business is primarily conducted through our wholly-owned subsidiaries , sifang holdings co. , ltd. ( “ sifang ” ) and shanghai yinghua financial leasing co. , ltd ( “ yinghua ” ) ; sifang 's wholly-owned subsidiaries , huahong new energy technology co. , ltd. ( “ huahong ” ) and shanghai tch energy tech co. , ltd. ( “ shanghai tch ” ) ; shanghai tch 's wholly-owned subsidiary , xi'an tch energy technology company , ltd ( “ xi'an tch ” ) ; xi'an tch 's wholly-owned subsidiaries , erdos tch energy saving development co. , ltd ( “ erdos tch ” ) and zhongxun energy investment ( beijing ) co. , ltd ( “ zhongxun ” ) ; and xi'an tch 's 90 % and shanghai tch 's 10 % owned subsidiary , xi'an zhonghong new energy technology co. , ltd. ( “ zhonghong ” ) . zhonghong provides energy saving solutions and services , including constructing , selling and leasing energy saving systems and equipment to customers , project investment . 33 the company 's organizational chart as of december 31 , 2019 is as follows : creg legal structure shanghai tch and its subsidiaries shanghai tch was established as a foreign investment enterprise in shanghai under the laws of the prc on may 25 , 2004 and has registered capital of $ 29.80 million . xi'an tch was incorporated in xi'an , shaanxi province under the laws of the prc on november 8 , 2007. in february 2009 , huahong was incorporated in xi'an , shaanxi province . erdos tch was incorporated in april 2009 in erdos , inner mongolia autonomous region . on july 19 , 2013 , xi'an tch formed xi'an zhonghong new energy technology co. , ltd ( “ zhonghong ” ) . xi'an tch owns 90 % and shanghai tch owns 10 % of zhonghong . as of december 31 , 2019 , shanghai tch , through its subsidiaries , had sales or sales-type leases with pucheng for two biomass power generation ( “ bmpg ” ) systems . the fund management company and the hyref fund on june 25 , 2013 , xi'an tch and hongyuan huifu venture capital co. ltd ( “ hongyuan huifu ” ) established beijing hongyuan recycling energy investment management company ltd. ( the “ fund management company ” ) with registered capital of rmb 10 million ( $ 1.45 million ) . xi'an tch made an initial capital contribution of rmb 4 million ( $ 650,000 ) and has 40 % ownership interest in the fund management company . with respect to the fund management company , voting rights and dividend rights are allocated 80 % and 20 % between hongyuan huifu and xi'an tch , respectively . 34 the fund management company is the general partner of beijing hongyuan recycling energy investment center , llp ( the “ hyref fund ” ) , a limited liability partnership established july 18 , 2013 in beijing . the fund management company made an initial capital contribution of rmb 5 million ( $ 830,000 ) to the hyref fund . story_separator_special_tag 37 on july 24 , 2013 , zhonghong entered into a cooperative agreement of cdq and cdq whpg project with boxing county chengli gas supply co. , ltd. ( “ chengli ” ) . the parties entered into a supplement agreement on july 26 , 2013. pursuant to these agreements , zhonghong agreed to design , build and maintain a 25 mw cdq system and a cdq whpg system to supply power to chengli , and chengli agreed to pay energy saving fees ( the “ chengli project ” ) . chengli will contract the operation of the system to a third party contractor that is mutually agreed to by zhonghong . in addition , chengli will provide the land for the cdq system and cdq whpg system at no cost to zhonghong . the term of these agreements is 20 years . the watt hours generated by the chengli project will be charged at rmb 0.42 ( $ 0.068 ) per kwh ( excluding tax ) . the operating time shall be based upon an average 8,000 hours annually . if the operating time is less than 8,000 hours per year due to a reason attributable to chengli , then time charged shall be 8,000 hours a year , and if it is less than 8,000 hours due to a reason attributable to zhonghong , then it shall be charged at actual operating hours . the construction of the chengli project was completed in the second quarter of 2015 and the project successfully completed commissioning tests in the first quarter of 2017. the chengli project is now operational , however , due to intensifying environmental protection , the local environmental authorities required the project owner constructing cdq sewage treatment to complete supporting works , which were completed and passed through acceptance inspection during the quarter ended september 30 , 2018. however , the owner of chengli project changed from chengli to shandong boxing shengli technology company ltd. ( “ shengli ” ) . this change resulted from transfer of the equity ownership of chengli to shengli ( a private company ) in march 2014. chengli , a 100 % state-owned enterprise that is 100 % owned by the local power supply bureau , is no longer allowed to carry out business activities , and shengli , the new owner , is not entitled to the high on-grid prices , and thus demanded a renegotiation of the settlement terms for the project . the company negotiated with the new project owner on the lease term , settlement method and settlement price , but no agreement has been reached . on july 22 , 2013 , zhonghong entered into an engineering , procurement and construction ( “ epc ” ) general contractor agreement for the boxing county chengli gas supply co. , ltd. cdq power generation project ( the “ chengli project ” ) with xi'an huaxin new energy co. , ltd. ( “ huaxin ” ) . zhonghong , as the owner of the chengli project , contracted epc services for a cdq system and a 25 mw cdq whpg system for chengli to huaxin . huaxin shall provide construction , equipment procurement , transportation , installation and adjustment , test run , construction engineering management and other necessary services to complete the chengli project and ensure the cdq system and cdq whpg system for chengli meet the inspection and acceptance requirements and work normally . the chengli project is a turn-key project in which huaxin is responsible for monitoring the quality , safety , duration and cost of the chengli project . the total contract price is rmb 200 million ( $ 33.34 million ) , which includes all materials , equipment , labor , transportation , electricity , water , waste disposal , machinery and safety costs . on december 29 , 2018 , xi'an zhonghong , xi'an tch , the “ hyref ” , guohua ku , and mr. chonggong bai entered into a cdq whpg station fixed assets transfer agreement , pursuant to which xi'an zhonghong transferred chengli cdq whpg station as the repayment for the loan of rmb 188,639,400 ( $ 27.54 million ) to hyref . xi'an zhonghong , xi'an tch , guohua ku and chonggong bai also agreed to buy back the cdq whpg station when conditions under the buy back agreement are met ( see note 10 ) . the transfer was completed january 22 , 2019 , and the company recorded $ 624,133 loss from this transfer . since the original terms of buy back agreement are still valid , the buy back possibility is uncertain ; therefore , the assets of chengli cdq whpg station , and the corresponding loan principal and interest , can not be terminated due to the existence of buy back clauses . 38 tianyu waste heat power generation project on july 19 , 2013 , zhonghong entered into a cooperative agreement ( the “ tianyu agreement ” ) for energy management of cdq and cdq whpg with jiangsu tianyu energy and chemical group co. , ltd ( “ tianyu ” ) . pursuant to the tianyu agreement , zhonghong will design , build , operate and maintain two sets of 25 mw cdq and cdq whpg systems for two subsidiaries of tianyu – xuzhou tian'an chemical co. , ltd ( “ xuzhou tian'an ” ) and xuzhou huayu coking co. , ltd. ( “ xuzhou huayu ” ) – to be located at xuzhou tian'an and xuzhou huayu 's respective locations ( the “ tianyu project ” ) . upon completion of the tianyu project , zhonghong will charge tianyu an energy saving fee of rmb 0.534 ( $ 0.087 ) per kwh ( excluding tax ) . the operating time will be based upon an average 8,000 hours annually for each of xuzhou tian'an and xuzhou huayu . if the operating time is less than 8,000 hours per year due to a reason attributable

