however , as a result of prc government 's effort on disease control , most cities in china were reopened , the outbreak in china is under the control . the company disposed all of its systems and currently holds only five power generating systems through erdos tch , the company initially expected to resume production of these five power generating systems in july 2020 from the renovation and furnace safety upgrade , but the resumption of operations was further delayed due to government 's request for erdos ' production line rectification for lowering its energy consumption per unit of gdp ; the company expects the resumption date to be july 2021. as of this report date , there are some new covid-19 cases discovered in a few provinces of china , however , the number of new cases is not significant due to prc government 's strict control . for the years ended december 31 , 2020 and 2019 , the company had a net income of $ 4.05 million and net loss $ 8.77 million , respectively . the company has an accumulated deficit of $ 43.03 million as of december 31 , 2020. 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 $ 107.80 million cash on hand at december 31 , 2020 as a result of collection the full payment from all the projects that were disposed earlier , this 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 . 43 the company 's organizational chart as of december 31 , 2020 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 . 44 erdos tch – joint venture on april 14 , 2009 , the company formed erdos tch as a joint venture ( the “ jv ” or “ erdos tch ” ) with erdos metallurgy co. , ltd. ( “ erdos ” ) to recycle waste heat from erdos ' metal refining plants to generate power and steam to be sold back to erdos . the jv has a term of 20 years with a total investment for the project estimated at $ 79 million ( rmb 500 million ) and an initial investment of $ 17.55 million ( rmb 120 million ) . erdos contributed 7 % of the total investment for the project , and xi'an tch contributed 93 % . according to xi'an tch and erdos ' agreement on profit distribution , xi'an tch and erdos will receive 80 % and 20 % , respectively , of the profit from the jv until xi'an tch receives the complete return of its investment . xi'an tch and erdos will then receive 60 % and 40 % , respectively , of the profit from the jv . on june 15 , 2013 , xi'an tch and erdos entered into a share transfer agreement , pursuant to which erdos transferred and sold its 7 % ownership interest in the jv to xi'an tch for $ 1.29 million ( rmb 8 million ) , plus certain accumulated profits as described below . story_separator_special_tag 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 9 ) . 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 . 48 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 to tianyu , then time charged will be 8,000 hours a year . because of the overcapacity and pollution of the iron and steel and related industries , the government has imposed production limitations for the energy-intensive enterprises with heavy pollution , including xuzhou tian'an . xuzhou tian'an has slowed the construction process for its dry quenching production line which caused the delay of our project . the construction of the xuzhou tian'an project is anticipated to be completed by the second quarter of 2020. xuzhou tian'an will provide the land for the cdq and cdq whpg systems for free . xuzhou tian'an has also guaranteed that it will purchase all of the power generated by the cdq whpg systems . the xuzhou huayu project is currently on hold due to a conflict between xuzhou huayu coking co. , ltd. and local residents on certain pollution-related issues . the local government acted in its capacity to coordinate the resolution of this issue . the local residents were requested to move from the hygienic buffer zone of the project location in exchange for compensatory payments from the government . xuzhou huayu was required to stop production and implement technical innovations to mitigate pollution discharge including sewage treatment , dust collection , noise control , and recycling of coal gas . currently , some local residents have moved . xuzhou huayu completed the implementation of the technical innovations of sewage treatment , dust collection , and noise control , and the company is waiting for local governmental agencies to approve these technical innovations so that we can resume construction . due to the stricter administration of environmental protection policies and recent increase in environmental protections for the coking industry in xuzhou , all local coking , as well as steel iron enterprises , are facing a similar situation of suspended production while rectifying technologies and procedures . on july 22 , 2013 , xi'an zhonghong new energy technology co. , ltd. entered into an epc general contractor agreement for the xuzhou tianyu group cdq power generation project ( the “ project ” ) with xi'an huaxin new energy co. , ltd. ( “ huaxin ” ) . zhonghong as the owner of the project contracted epc for the two sets of cdq and 25 mw cdq whpg systems for tianyu to huaxin—one for xuzhou tian'an and one for xuzhou huayu . huaxin shall provide construction , equipment procurement , transportation , installation and adjustment , test run , construction engineering management and other necessary works to complete the project and ensure the cdq and cdq whpg systems for tianyu meet the inspection and acceptance requirements and work normally . the project is a turn-key project and huaxin is responsible for the quality , safety , duration and cost of the project . the total contract price is rmb 400 million ( $ 66.67 million ) , of which rmb 200 million ( $ 33.34 million ) is for the xuzhou tian'an system and rmb 200 million is for the xuzhou huayu system . the price is a cover-all price , which includes but not limited to all the materials , equipment , labor , transportation , electricity , water , waste disposal , machinery and safety matters . 49 on january 4 , 2019 , xi'an zhonghong , xi'an tch , and mr. chonggong bai entered into a projects transfer agreement ( the “ agreement ” ) , pursuant to which xi'an zhonghong transferred a cdq whpg station ( under construction ) located in xuzhou city for xuzhou huayu coking co. , ltd. ( “

liquidity and capital resources comparison of years ended december 31 , 2020 and 2019 as of december 31 , 2020 , the company had cash and equivalents of $ 107.80 million , other current assets of $ 399,784 , current liabilities of $ 39.04 million , working capital of $ 69.16 million , a current ratio of 2.77:1 and a liability-to-equity ratio of 0.49:1. 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 , 2020 and 2019 : replace_table_token_2_th 56 net cash provided by operating activities was $ 82.25 million during the year ended december 31 , 2020 , compared to $ 14.65 million cash used in operating activities for the year ended december 31 , 2019. the increase in net cash inflow for the year ended december 31 , 2020 was mainly due to increased cash inflow from collection of sales type leases of pucheng systems by $ 14.15 million , and increased cash collection of accounts receivable by $ 70.55 million for selling / disposing huayu , shenqiu , zhongtai and tian'an systems and decreased cash outflow on interest payable on entrusted loan by $ 10.39 million . net cash provided by ( used in ) investing activities was $ ( 1,885 ) and $ 5,074 , respectively , for the years ended december 31 , 2020 and 2019. for the year ended december 31 , 2020 , $ 1,885 was the purchase 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 , 2020 and 2019 as of december 31 , 2020 , the company had cash and equivalents of $ 107.80 million , other current assets of $ 399,784 , current liabilities of $ 39.04 million , working capital of $ 69.16 million , a current ratio of 2.77:1 and a liability-to-equity ratio of 0.49:1. 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 , 2020 and 2019 : replace_table_token_2_th 56 net cash provided by operating activities was $ 82.25 million during the year ended december 31 , 2020 , compared to $ 14.65 million cash used in operating activities for the year ended december 31 , 2019. the increase in net cash inflow for the year ended december 31 , 2020 was mainly due to increased cash inflow from collection of sales type leases of pucheng systems by $ 14.15 million , and increased cash collection of accounts receivable by $ 70.55 million for selling / disposing huayu , shenqiu , zhongtai and tian'an systems and decreased cash outflow on interest payable on entrusted loan by $ 10.39 million . net cash provided by ( used in ) investing activities was $ ( 1,885 ) and $ 5,074 , respectively , for the years ended december 31 , 2020 and 2019. for the year ended december 31 , 2020 , $ 1,885 was the purchase of the fixed assets .
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 Suspicious Activity Report : however , as a result of prc government 's effort on disease control , most cities in china were reopened , the outbreak in china is under the control . the company disposed all of its systems and currently holds only five power generating systems through erdos tch , the company initially expected to resume production of these five power generating systems in july 2020 from the renovation and furnace safety upgrade , but the resumption of operations was further delayed due to government 's request for erdos ' production line rectification for lowering its energy consumption per unit of gdp ; the company expects the resumption date to be july 2021. as of this report date , there are some new covid-19 cases discovered in a few provinces of china , however , the number of new cases is not significant due to prc government 's strict control . for the years ended december 31 , 2020 and 2019 , the company had a net income of $ 4.05 million and net loss $ 8.77 million , respectively . the company has an accumulated deficit of $ 43.03 million as of december 31 , 2020. 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 $ 107.80 million cash on hand at december 31 , 2020 as a result of collection the full payment from all the projects that were disposed earlier , this 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 . 43 the company 's organizational chart as of december 31 , 2020 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 . 44 erdos tch – joint venture on april 14 , 2009 , the company formed erdos tch as a joint venture ( the “ jv ” or “ erdos tch ” ) with erdos metallurgy co. , ltd. ( “ erdos ” ) to recycle waste heat from erdos ' metal refining plants to generate power and steam to be sold back to erdos . the jv has a term of 20 years with a total investment for the project estimated at $ 79 million ( rmb 500 million ) and an initial investment of $ 17.55 million ( rmb 120 million ) . erdos contributed 7 % of the total investment for the project , and xi'an tch contributed 93 % . according to xi'an tch and erdos ' agreement on profit distribution , xi'an tch and erdos will receive 80 % and 20 % , respectively , of the profit from the jv until xi'an tch receives the complete return of its investment . xi'an tch and erdos will then receive 60 % and 40 % , respectively , of the profit from the jv . on june 15 , 2013 , xi'an tch and erdos entered into a share transfer agreement , pursuant to which erdos transferred and sold its 7 % ownership interest in the jv to xi'an tch for $ 1.29 million ( rmb 8 million ) , plus certain accumulated profits as described below . story_separator_special_tag 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 9 ) . 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 . 48 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 to tianyu , then time charged will be 8,000 hours a year . because of the overcapacity and pollution of the iron and steel and related industries , the government has imposed production limitations for the energy-intensive enterprises with heavy pollution , including xuzhou tian'an . xuzhou tian'an has slowed the construction process for its dry quenching production line which caused the delay of our project . the construction of the xuzhou tian'an project is anticipated to be completed by the second quarter of 2020. xuzhou tian'an will provide the land for the cdq and cdq whpg systems for free . xuzhou tian'an has also guaranteed that it will purchase all of the power generated by the cdq whpg systems . the xuzhou huayu project is currently on hold due to a conflict between xuzhou huayu coking co. , ltd. and local residents on certain pollution-related issues . the local government acted in its capacity to coordinate the resolution of this issue . the local residents were requested to move from the hygienic buffer zone of the project location in exchange for compensatory payments from the government . xuzhou huayu was required to stop production and implement technical innovations to mitigate pollution discharge including sewage treatment , dust collection , noise control , and recycling of coal gas . currently , some local residents have moved . xuzhou huayu completed the implementation of the technical innovations of sewage treatment , dust collection , and noise control , and the company is waiting for local governmental agencies to approve these technical innovations so that we can resume construction . due to the stricter administration of environmental protection policies and recent increase in environmental protections for the coking industry in xuzhou , all local coking , as well as steel iron enterprises , are facing a similar situation of suspended production while rectifying technologies and procedures . on july 22 , 2013 , xi'an zhonghong new energy technology co. , ltd. entered into an epc general contractor agreement for the xuzhou tianyu group cdq power generation project ( the “ project ” ) with xi'an huaxin new energy co. , ltd. ( “ huaxin ” ) . zhonghong as the owner of the project contracted epc for the two sets of cdq and 25 mw cdq whpg systems for tianyu to huaxin—one for xuzhou tian'an and one for xuzhou huayu . huaxin shall provide construction , equipment procurement , transportation , installation and adjustment , test run , construction engineering management and other necessary works to complete the project and ensure the cdq and cdq whpg systems for tianyu meet the inspection and acceptance requirements and work normally . the project is a turn-key project and huaxin is responsible for the quality , safety , duration and cost of the project . the total contract price is rmb 400 million ( $ 66.67 million ) , of which rmb 200 million ( $ 33.34 million ) is for the xuzhou tian'an system and rmb 200 million is for the xuzhou huayu system . the price is a cover-all price , which includes but not limited to all the materials , equipment , labor , transportation , electricity , water , waste disposal , machinery and safety matters . 49 on january 4 , 2019 , xi'an zhonghong , xi'an tch , and mr. chonggong bai entered into a projects transfer agreement ( the “ agreement ” ) , pursuant to which xi'an zhonghong transferred a cdq whpg station ( under construction ) located in xuzhou city for xuzhou huayu coking co. , ltd. ( “

