Ever-Glory International (EVKG) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 08, 2022
Document Information Line Items
Entity Registrant Name	Ever-Glory International Group, Inc.
Trading Symbol	EVK
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		14,814,354
Amendment Flag	false
Entity Central Index Key	0000943184
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-28806
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	65-0420146
Entity Address, Address Line One	Ever-Glory Commercial Center
Entity Address, Address Line Two	509 Chengxin Road, Jiangning Development Zone
Entity Address, City or Town	Nanjing
Entity Address, Country	CN
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.001
Security Exchange Name	NASDAQ
City Area Code	86
Entity Address, Postal Zip Code	00000
Local Phone Number	25-5209-6831

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 41,717	$ 56,573
Restricted cash	42,525	40,768
Trading securities	2,965	3,251
Accounts receivable, net	55,025	69,859
Inventories	65,013	63,841
Advances on inventory purchases	5,065	8,179
Value added tax receivable	1,296	1,693
Other receivables and prepaid expenses	6,732	6,345
Amounts due from related parties	1,308	220
Total Current Assets	221,646	250,729
NON-CURRENT ASSETS
Equity security investment	5,229	5,682
Intangible assets, net	4,770	4,794
Property and equipment, net	36,838	36,340
Operating lease right-of-use assets	52,751	50,077
Deferred tax assets	202	899
Other non-current assets	1,575	784
Total Non-Current Assets	101,365	98,576
TOTAL ASSETS	323,011	349,305
CURRENT LIABILITIES
Bank loans	69,300	68,992
Accounts payable	50,533	67,930
Accounts payable and other payables – related parties	1,474	1,332
Other payables and accrued liabilities	13,288	18,531
Value added and other taxes payable		999
Income tax payable	500	334
Current operating lease liabilities	44,287	41,633
Total Current Liabilities	179,382	199,751
NON-CURRENT LIABILITIES
Non-current operating lease liabilities	8,628	8,596
TOTAL LIABILITIES	188,010	208,347
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS’ EQUITY
Common stock ($0.001 par value, authorized 50,000,000 shares, 14,814,354 and 14,812,312 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively)	15	15
Additional paid-in capital	3,665	3,660
Retained earnings	103,121	108,210
Statutory reserve	21,245	21,245
Treasury stock (at cost,162,080 and 147,334 shares at March 31,2022 and December 31, 2021, respectively)	(400)	(363)
Accumulated other comprehensive income	7,355	8,191
Total equity	135,001	140,958
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 323,011	$ 349,305

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	14,814,354	14,812,312
Common stock, shares outstanding	14,814,354	14,812,312
Treasury stock shares	162,080	147,334

Consolidated Statements of Loss

Consolidated Statements of Loss And Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
NET SALES	$ 64,773	$ 70,814
COST OF SALES	47,401	48,379
GROSS PROFIT	17,372	22,435
OPERATING EXPENSES
Selling expenses	13,686	15,548
General and administrative expenses	6,994	7,851
Total operating expenses	20,680	23,399
LOSS FROM OPERATIONS	(3,308)	(964)
OTHER (EXPENSE) INCOME
Interest income	186	224
Interest expense	(613)	(492)
Government subsidy	3	259
(Loss) gain from changes in fair values of investments	(762)	339
Other income	517	193
Total Other (Expense) Income, Net	(669)	523
LOSS BEFORE INCOME TAX EXPENSE	(3,977)	(441)
INCOME TAX EXPENSE	(1,112)	(729)
NET LOSS	(5,089)	(1,170)
Foreign currency translation loss	(836)	(1,352)
COMPREHENSIVE LOSS	$ (5,925)	$ (2,522)
LOSS PER SHARE
Basic and diluted (in Dollars per share)	$ (0.34)	$ (0.08)
Weighted average number of shares outstanding Basic and diluted (in Shares)	14,813,787	14,810,001

Condensed Consolidated Statemen

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Treasury Stock	Retained Earnings Unrestricted	Retained Earnings Statutory reserve	Accumulated other Comprehensive income	Amounts due from related party	Total equity attributable to stockholders of the Company	Non- controlling Interest
Balance at Dec. 31, 2020	$ 134,449	$ 15	$ 3,650		$ 109,171	$ 20,376	$ 4,590	$ (3,353)	$ 134,449
Balance (in Shares) at Dec. 31, 2020		14,809,160
Stock issued for compensation	5		5						5
Stock issued for compensation (in Shares)		1,500
Net income (loss)	(1,170)				(1,170)				(1,170)
Transfer to reserve
Payments received from related party under counter guarantee agreement	379							379	379
Repurchase of 147,334 shares of common stock
Foreign currency translation loss	(1,352)						(1,352)		(1,352)
Balance at Mar. 31, 2021	132,311	$ 15	3,655		108,001	20,376	3,238	(2,974)	132,311
Balance (in Shares) at Mar. 31, 2021		14,810,660
Balance at Dec. 31, 2021	140,958	$ 15	3,660	(363)	108,210	21,245	8,191		140,958
Balance (in Shares) at Dec. 31, 2021		14,812,312
Stock issued for compensation	5		5						5
Stock issued for compensation (in Shares)		2,042
Net income (loss)	(5,089)				(5,089)				(5,089)
Repurchase of 14,746 shares of common stock	(37)			(37)					(37)
Foreign currency translation loss	(836)						(836)		(836)
Balance at Mar. 31, 2022	$ 135,001	$ 15	$ 3,665	$ (400)	$ 103,121	$ 21,245	$ 7,355		$ 135,001
Balance (in Shares) at Mar. 31, 2022		14,814,354

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Repurchase of common stock	14,746	147,334

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net less	$ (5,089)	$ (1,170)
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	2,147	1,377
Loss from sale of property and equipment	52	102
Loss on deconsolidation of a subsidiary
Provision of (recovering from) bad debt allowance	298	(196)
Provision for obsolete inventories	3,759	3,583
Changes in fair value of trading securities	(283)	(262)
Changes in fair value of investment	479	28
Deferred income tax	701	17
Stock-based compensation	5	5
Changes in operating assets and liabilities
Accounts receivable	14,815	6,509
Inventories	(4,680)	6,805
Value added tax receivable	405	52
Other receivables and prepaid expenses	(278)	(367)
Advances on inventory purchases	3,150	2,544
Amounts due from related parties	(1,089)	(71)
Accounts payable	(16,838)	(14,690)
Accounts payable and other payables- related parties	226	(769)
Other payables and accrued liabilities	(6,252)	(3,221)
Value added and other taxes payable	(1,067)	(220)
Income tax payable	165	(358)
Net cash (used in) operating activities	(9,374)	(302)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(2,507)	(1,378)
Net purchase (proceeds from) of trading securities	569	(983)
Investment payment	(788)
Net cash used in investing activities	(2,726)	(2,361)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank loans	12,600	12,336
Repayment of bank loans	(12,600)	(6,168)
Repurchase of common stock	(37)
Net collection of amounts due from related party (equity)		148
Net cash (used in) provided by financing activities	(37)	6,316
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(962)	(1,660)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(13,099)	1,993
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	97,341	121,723
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	84,242	123,716
Reconciliation of cash, cash equivalents and restricted cash reported within their consolidated balance sheets:
Cash and Cash Equivalents	41,717	78,056
Restricted cash	42,525	45,660
Total	84,242	123,716
Cash paid during the period for:
Interest	613	492
Income taxes	$ 1,112	$ 729

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION	NOTE 1 BASIS OF PRESENTATION Ever-Glory International Group, Inc. (the “Company”), together with its subsidiaries, is an apparel manufacturer, supplier and retailer in The People’s Republic of China (“China or “PRC”), with a wholesale segment and a retail segment. The Company’s wholesale business consists of recognized brands for department and specialty stores located in China, Europe, Japan and the United States. The Company’s retail business consists of flagship stores and store-in-stores located in China for the Company’s own-brand products. The Company’s wholesale operations are provided primarily through the Company’s wholly-owned PRC subsidiaries, Goldenway Nanjing Garments Co. Ltd. (“Goldenway”), Nanjing Catch-Luck Garments Co. Ltd. (“Catch-Luck”), Nanjing New-Tailun Garments Co. Ltd (“New-Tailun”), Haian Tai Xin Garments Trading Company Limited (“Haian Tai Xin”), Ever-Glory International Group Apparel Inc.(“Ever-Glory Apparel”), Chuzhou Huirui Garments Co. Ltd. (“Huirui”), and Nanjing Rui Lian Technology Company Limited (“Nanjing Rui Lian”), and the Company’s wholly-owned Samoa subsidiary, Ever-Glory International Group (HK) Ltd. (“Ever-Glory HK”) and the Company’s wholly-owned Hong Kong subsidiary,Ever-Glory Supply Chain Service Co., Limited (“Ever-Glory Supply Chain”). The Company’s retail operations are provided through its wholly- owned subsidiaries, Shanghai LA GO GO Fashion Company Limited (“Shanghai LA GO GO”), Jiangsu LA GO GO Fashion Company Limited (“Jiangsu LA GO GO”), Tianjin LA GO GO Fashion Company Limited (“Tianjin LA GO GO”), Shanghai Ya Lan Fashion Company Limited (“Ya Lan”), and Nanjing Tai Xin Garments Trading Company Limited (“Tai Xin”). He Meida was closed in April 2021, which is not a strategic shift and does not have major effect on the Company’s operations or financial results. In the opinion of management, the accompanying unaudited condensed consolidated financial statements of the Company and its subsidiaries contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the condensed consolidated balance sheet as of March 31, 2022 the condensed consolidated statements of loss and comprehensive loss, condensed consolidated statements of equity, and condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Rule 8-03 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they have been condensed and do not include all of the information and footnotes required by GAAP for complete financial statements. Wholesale revenues are generally higher in the third and fourth fiscal quarters, while retail revenues are generally higher in the first and fourth fiscal quarters. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SIGNIFICANT ACCOUNTING POLICIES The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC (“2021 Form 10-K.”) Use of Estimates In preparing our condensed consolidated financial statements, we use estimates and assumptions that affect the reported amounts and disclosures. Our estimates are often based on complex judgments, probabilities and assumptions that we believe to be reasonable, but that are inherently uncertain and unpredictable. We are also subject to other risks and uncertainties that may cause actual results to differ from estimated amounts. Significant estimates include the assumptions used to value tax liabilities, the estimates of the allowance for deferred tax assets, and the accounts receivable allowance, and impairment of long-lived assets and inventory write off. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” The Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have a significant impact on the Company’s consolidated financial statements.

Investments

Investments	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
INVESTMENTS	NOTE 3 INVESTMENTS Trading securities Investments in equity securities of certain US public companies are accounted for as trading securities and measured subsequently at fair value in the consolidated balance sheets. Net gains and losses recognized during the three months periods are summarized as follows (In thousands of U.S. Dollars). March 31, March 31, (In thousands of Net gains recognized during the period on equity securities $ 283 $ 262 Less: Net gains recognized during the period on equity securities sold during the period 2 54 Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 281 $ 208 Equity security investment In August 2020, Ever-Glory Apparel invested $3.2 million (RMB 20.0 million) for 2.38% ownership in a partnership (“Partnership”). In December 2020, the Partnership invested in a public company in China. As a limited partner, the Company does not have ability to exercise significant influence due to lack of kick-out rights through voting interests. In the meantime, the Company entered an agreement with the general partner of the Partnership (GP) and an individual that the Company has the privilege to sell the ownership interests in the Partnership to GP or the individual for the consideration of the average net asset value ten trading days prior to the closing date, if the Company is not able to withdraw any part of the original investment from the Partnership in the twelve months period beginning the third year of the initial investment (“optional withdrawal period”). If the Company opts to withdraw entire investment during the optional withdrawal period, the GP will compensate up to 8% of annual return on investment. If the return on investment is in excess of 8% for any portion of the investment withdrawn during the optional withdrawal period, then 20% of the return in excess of 8% will be shared with the individual. The Company may also continue to invest in the Partnership beyond the optional withdrawal period, but none of above agreement with the GP and the individual is in place. In December 2020, the Partnership invested in a public company in China. Since there is readily determinable fair value of the equity investment, the Company started to measure its equity investment at fair value using the public company’s stock price and the Company’s shares since December 31, 2020. At each reporting period, the Company makes a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. There is no significant adverse change in the regulatory, economic, or technological environment of the investee. There were no indications of impairment during the period ended March 31, 2022. Investment advances In September 2021, Goldenway signed an agreement and promised to invest $7.9 million (RMB 50.0 million) cash for 20% interest of a Chinese private company. Under the agreement, Goldenway has the liquidation privilege to receive its share of the investee’s residual of its liquidated assets. If Goldenway’s share is less than its original investment amount plus 8% of annual return on investment, all other shareholders who signed this agreement shall use their shares of the liquidated assets to compensate Goldenway. The investee also shall compensate Goldenway if the investee cannot make agreed upon profits and the number of customers. As of March 31, 2022 , Goldenway advanced $1.6 million (RMB10.0 million) to the investee. Additional $ 0.8 million (RMB 5.0 million) was made in April 2022. The investment advances were recorded as other non-current assets.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 4 INVENTORIES Inventories at March 31, 2022 and December 31, 2021 consisted of the following: March 31, December 31, (In thousands of Raw materials $ 1,463 $ 1,375 Work-in-progress 24,285 14,375 Finished goods 39,265 48,091 Total inventories $ 65,013 $ 63,841

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2022
Restricted Cash [Abstract]
RESTRICTED CASH	NOTE 5 RESTRICTED CASH As of March 31, 2022 and December 31, 2021, restricted cash of $40.9 million (RMB260.0 million) and $39.2 million (RMB250.0 million) were cash on demand and time deposits pledged to Shanghai Pudong Development Bank for loans. As of March 31, 2022 and December 31, 2021, restricted cash of $1.6 million (RMB10.0 million) and $1.6 million (RMB10.0 million) were cash on demand and time deposits pledged to Nanjing Bank. (see Note 6)

Bank Loans

Bank Loans	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
BANK LOANS	NOTE 6 BANK LOANS Bank loans represent amounts due to various banks and are generally due on demand or within one year. These loans can be renewed with the banks. Short term bank loans consisted of the following as of March 31, 2022 and December 31, 2021. March 31, December 31, Bank (In thousands of Shanghai Pudong Development Bank $ 40,950 $ 39,200 Industrial and Commercial Bank of China 20,475 21,952 Nanjing Bank 7,875 7,840 $ 69,300 $ 68,992 From March 2020 to July 2020, Ever-Glory Apparel entered into a certificate of three-year time deposit of $29.9 million (RMB190.0 million) with the Shanghai Pudong Development Bank with annual interest rates ranging from 3.75% to 3.99%. From July to November 2021, Ever-Glory Apparel pledged the certificate of three-year time deposit to the Shanghai Pudong Development Bank and Ever-Glory Apparel had borrowed $29.9 million (RMB 190.0 million) under this line of certificate with an annual interest rate from 2.60% to 2.90% and due between June to November 2022. In December 2020, Goldenway entered into a certificate of three-year time deposit of $17.3 million (RMB110.0 million) with the Shanghai Pudong Development Bank with an annual interest rate of 3.85%. From July 2021 to February 2022, Goldenway pledged the certificate of three-year time deposit to the Shanghai Pudong Development Bank and Goldenway had borrowed $11.0 million (RMB 70.0 million) under this line of certificate with annual interest rate from 2.60% to 2.90%, due between June 2022 and February 2023. In April 2020, Goldenway entered into a line of credit agreement with Industrial and Commercial Bank of China, which allows the Company to borrow up to approximately $6.3 million (RMB40.0 million). These loans are collateralized by the Company’s property and equipment. As of March 31, 2022, Goldenway had borrowed $6.3 million (RMB40.0 million) from Industrial and Commercial Bank of China with an annual interest rate 4.57% and due in August 2022. In August 2019, Ever-Glory Apparel entered into a line of credit agreement for approximately $15.8 million (RMB100.0 million) with Industrial and Commercial Bank of China, which is collateralized by assets of Jiangsu LA GO GO, Tianjin LA GO GO and Jiangsu Ever-Glory International Group Corp. (“Jiangsu Ever-Glory”), an entity controlled by Mr. Kang, the Company’s Chairman and Chief Executive Officer, under a collateral agreement executed among Ever-Glory Apparel, Jiangsu LA GO GO , Tianjin LA GO GO, Jiangsu Ever-Glory and the bank. As of March 31, 2022, Ever-Glory Apparel had borrowed $14.2 million (RMB 90.0 million) under this line of credit with annual interest rates ranging from 3.92% to 4.35% and due between May to October 2022.As of March 31, 2022, approximately $1.6 (RMB 10.0 million) million was unused and available under this line of credit. In April 2020, Goldenway entered into a line of credit agreement with Nanjing Bank, which allows the Company to borrow up to approximately $7.1 million (RMB45.0 million). In May 2021,Goldenway pledged $1.6 million (RMB10.0 million) to Nanjing Bank, and the maximum amount available from this line of credit increased to $8.7 million (RMB55.0 million).These loans are collateralized by the Company’s property and equipment and guaranteed by Jiangsu Ever-Glory. In June 2021, Goldenway borrowed $4.7 million (RMB 30.0 million) with an annual interest rate 3.36% and due in June 2022. In September 2021, Goldenway borrowed $3.2 million (RMB 20.0 million) with an annual interest rate 3.44% and due in September 2022. As of March 31, 2022, approximately $0.8 million (RMB 5.0 million) was unused and available under this line of credit. All bank loans are used to fund our daily operations. There were no loans in default as of March 31, 2022. Total interest expense on bank loans amounted to $0.6 million and $0.5 million for the three months ended March 31, 2022 and 2021, respectively.

Income Tax

Income Tax	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE 7 INCOME TAX The Company’s operating subsidiaries are governed by the Income Tax Law of the PRC concerning Foreign Investment Enterprises and Foreign Enterprises and various local income tax laws (“the Income Tax Laws”). All PRC subsidiaries, are subject to income tax at the 25% statutory rate. Perfect Dream was incorporated in the British Virgin Islands (BVI), and under the current laws of the BVI dividends and capital gains arising from the Company’s investments in the BVI are not subject to income taxes. Ever-Glory HK was incorporated in Samoa, and under the current laws of Samoa has no liabilities for income taxes. Ever-Glory Supply Chain Service Co., Limited was incorporated in Hongkong, and under the current laws of Hongkong, its income tax rate is 8.25% when its profit is under HKD 2.0 million and its income tax rate is 16.5% when its profit is over HKD 2.0 million. The PRC’s Enterprise Income Tax Law imposes a 10% withholding income tax for dividends distributed by a foreign invested enterprise in PRC to its immediate holding company outside China; such distributions were exempted under the previous income tax law and regulations. A lower withholding tax rate will be applied if there is a tax treaty arrangement between mainland China and the jurisdiction of the foreign holding company. The foreign invested enterprise became subject to the withholding tax starting from January 1, 2008. Given that the undistributed profits of the Company’s subsidiaries in China are intended to be retained in China for business development and expansion purposes, no withholding tax accrual has been made. After the tax liability adjustment resulted from the reevaluation of the Company’s tax position (resulting in the company allocating substantially all of the earnings of the Samoan subsidiary to the PRC and reporting such earnings as taxable in the PRC), pre-tax loss for the three months ended March 31, 2022 and 2021 was in the following jurisdictions: 2022 2021 (In thousands of PRC $ (3,974 ) $ (438 ) Others (3 ) (3 ) $ (3,977 ) $ (441 ) The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the three months ended March 31, 2022 and 2021: 2022 2021 (In thousands of U.S. tax rate 21.0 % 21.0 % Valuation allowance recognized with respect to the loss (52.9 )% (103.9 )% Foreign tax rate differential 4.0 % 4.0 % Others - (86.8 )% Effective income tax rate (27.9 )% (165.7 )% Income tax expense for the three months ended March 31, 2022 and 2021 is as follows: 2022 2021 (In thousands of Current U.S. Federal Foreign $ 415 $ 706 Total Deferred $ 415 $ 706 Deferred U.S. Federal Foreign $ 697 $ 23 Total Deferred $ 697 $ 23 Income tax expense $ 1,112 $ 729 Deferred tax assets net of valuation allowance as of: March 31, December 31, (In thousands of Inventories, net $ 2,623 $ 1,684 Accounts receivable, net 580 624 Deferred income 2,092 2,387 Accrued expenses 1,148 2,464 Depreciation 156 108 Net operating loss carryforward 4,659 3,782 Deferred tax assets 11,258 11,049 Valuation allowance (11,056 ) (10,150 ) Deferred tax assets, net $ 202 $ 899 The U.S. Tax Reform signed into law on December 22, 2017 significantly modified the U.S. Internal Revenue Code by, among other things, reducing the statutory U.S. federal corporate income tax rate from 35% to 21% for taxable years beginning after December 31, 2017; limiting and/or eliminating many business deductions; migrating the U.S. to a territorial tax system with a one-time transition tax on a mandatory deemed repatriation of previously deferred foreign earnings of certain foreign subsidiaries; subject to certain limitations, generally eliminating U.S. corporate income tax on dividends from foreign subsidiaries; and providing for new taxes on certain foreign earnings. The Company measured the current and deferred taxes based on the provisions of the Tax legislation. After the Company’s measurement, no deferred tax expense (income) relating to the Tax Act changes for the year ended March 31, 2022.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 8 STOCKHOLDERS’ EQUITY Common stock issued to independent directors On February 9, 2021, the Company issued 1,500 shares of the Company’s common stock to two of the Company’s independent directors as compensation for their services rendered during the third and fourth quarter of 2020. The shares issued in 2021 were valued at $3.34 per share, which was the average market price of the common stock for the five days before the grant date. On January 26, 2022, the Company issued 2,042 shares of the Company’s common stock to two of the Company’s independent directors as compensation for their services rendered during the third and fourth quarter of 2021. The shares issued in 2022 were valued at $2.47 per share, which was the average market price of the common stock for the five days before the grant date. Treasury stock (after "stock issued to independent directors") In August 2021, the Company's Board of Directors authorized and the Company repurchased 147,334 shares of its common stock through negotiated transactions. In January 2022, the Company repurchased additional 14,746 shares. These treasury shares may be resold or cancelled in the future. The treasury stock is carried at cost of $400 as of March 31, 2022.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 RELATED PARTY TRANSACTIONS Mr. Kang is the Company’s Chairman and Chief Executive Officer. Ever-Glory Enterprises (HK) Ltd. (Ever-Glory Enterprises) is the Company’s major shareholder. Mr. Xiaodong Yan was Ever-Glory Enterprises’ sole shareholder and sole director. Mr. Huake Kang, Mr. Kang’s son, acquired 83% interest of Ever-Glory Enterprises and became its sole director in 2014. All transactions associated with the following companies controlled by Mr. Kang or his son are considered to be related party transactions, and it is possible that the terms of these transactions may not be the same as those that would result from transactions between unrelated parties. All related party outstanding balances are short-term in nature and are expected to be settled in cash. Other income from Related Parties Jiangsu Wubijia Trading Company Limited (“Wubijia”) is an entity engaged in high-grade home goods sales and is controlled by Mr. Kang. Wubijia has sold their home goods on consignment in some Company’s retail stores since the third quarter of 2014. 2022 2021 (In thousands of The Company received from the customers $ - 3 The Company paid to Wubijia - (3 ) The net income recorded as other income $ - $ - Included in other income for the three months ended March 31, 2022 and 2021 is rental income from EsC’Lav, the entity controlled by Mr. Kang under operating lease agreement with term through 2021. The rental income is $6,502 and $6,366 for the three months ended March 31, 2022 and 2021, respectively. Other expenses due to Related Parties Included in other expenses for the three months ended March 31, 2022 and 2021 are rent due to entities controlled by Mr. Kang under operating lease agreements as follows: 2022 2021 (In thousands of Chuzhou Huarui 56 55 Kunshan Enjin 12 23 Total $ 68 $ 78 The Company leases Chuzhou Huarui and Kunshan Enjin’s warehouse spaces because the locations are convenient for transportation and distribution. Purchases from and Sub-contracts with Related Parties The Company purchased raw materials from Nanjing Knitting totaled $0.2 million and $0.2 million during the three months ended March 31, 2022 and 2021, respectively. In addition, the Company sub-contracted certain manufacturing work to related companies totaled $4.5 million and $4.7 million for the three months ended March 31, 2022 and 2021, respectively. The Company provided raw materials to the sub-contractors and charged a fixed fee for labor provided by the sub-contractors. Purchase advances or prepaid sub-contracting fees are recorded as amounts due from related parties. Sub-contracts with related parties included in cost of sales for the three months ended March 31, 2022 and 2021 are as follows: 2022 2021 (In thousands of Ever-Glory Vietnam $ 3,269 $ 3,083 Chuzhou Huarui 301 491 Fengyang Huarui 288 319 Nanjing Ever-Kyowa 438 391 Nanjing Knitting 245 EsC’eLav - 6 Jiangsu Ever-Glory - 457 Total $ 4,541 $ 4,747 Accounts Payable – Related Parties The accounts payable to related parties at March 31, 2022 and December 31, 2021 are as follows: 2022 2021 (In thousands of Ever-Glory Vietnam $ - 395 Fengyang Huarui 116 161 Nanjing Ever-Kyowa 133 - Chuzhou Huarui 414 59 Nanjing Knitting 648 668 Jiangsu Ever-Glory 163 49 Total $ 1,474 $ 1,332 Amounts Due From Related Parties-current assets The amounts due from related parties at March 31, 2022 and December 31, 2021 are as follows: 2022 2021 (In thousands of Jiangsu Ever-Glory $ - $ 220 Ever-Glory Vietnam 1,308 - Total $ 1,308 $ 220 Jiangsu Ever-Glory is an entity engaged in importing/exporting, apparel-manufacture, real-estate development, car sales and other activities. Jiangsu Ever-Glory is controlled by Mr. Kang. During three months ended March 31, 2022 and 2021, the Company and Jiangsu Ever-Glory purchased raw materials on behalf of each other in order to obtain cheaper purchase prices. The Company purchased raw materials on Jiangsu Ever-Glory’s behalf and sold to Jiangsu Ever-Glory at cost for $0.02 million and $1.8 million during the three month period ended March 31, 2022 and 2021, respectively. Jiangsu Ever-Glory purchased raw materials on the Company’s behalf and sold to the Company at cost for $0.0 million and $0.5 million during the three months ended March 31, 2022 and 2021, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 COMMITMENTS AND CONTINGENCIES Operating Lease Commitment The Company recognized operating lease liabilities and operating lease right-of-use (ROU) assets on its balance sheets. ROU assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company has leases with fixed payments for land-use-rights, warehouses and logistics centers, flagship stores, and leases with variable payments for stores within shopping malls (“shopping mall stores”) in the PRC, which are classified as operating leases. Options to extend or renew are recognized as part of the lease liabilities and recognized as right of use assets. There are no residual value guarantees and no restrictions or covenants imposed by the leases. The weighted average remaining lease term excluding stores in the shopping malls is 29 years and the weighted average discount rate is 4.35%. The lease term for shopping mall stores is commonly one year with options to extend or renew, and the rent is predetermined with a percentage of sales. The Company estimates the next 12 months rent for the shopping mall stores by annualizing current period rent calculated with the percentage of sales. Thus, the ROU assets and lease liabilities may vary significantly at different period ends. For stores closed before the lease end, we would incur insignificant amounts in net of loss on impairment of ROU assets and gain on extinguishment of lease liabilities, which are recorded in the current period statement of income (loss) and comprehensive income (loss). In the three months ended March 31, 2022, the costs of the leases recognized in cost of revenues and general administrative expenses are $7.2 million and $0.2 million, respectively. Cash paid for the operating leases including in the operating cash flows was $7.4 million. In the three months ended March 31, 2021, the costs of the leases recognized in cost of revenues and general administrative expenses are $9.9 million and $0.1 million, respectively. Cash paid for the operating leases including in the operating cash flows was $10.0 million. The following table summarizes the maturity of operating lease liabilities: Year ending March 31, (In thousands of U.S. Dollars) 2022 $ 573 2023 883 2024 441 2025 441 2026 441 Thereafter 12,718 Total lease payment 15,497 Less: Interest 6,869 Total $ 8,628 Legal Proceedings We are not aware of any pending legal proceedings to which we are a party which is material or potentially material, either individually or in the aggregate. We are from time to time, during the normal course of our business operations, subject to various litigation claims and legal disputes. We do not believe that the ultimate disposition of any of these matters will have a material adverse effect on our financial position, results of operations or liquidity.

Risks and Uncertainties

Risks and Uncertainties	3 Months Ended
	Mar. 31, 2022
Risks and Uncertainties [Abstract]
RISKS AND UNCERTAINTIES	NOTE 11 RISKS AND UNCERTAINTIES Economic and Political Risks The Company’s results of operations could be adversely affected by general conditions in the global economy, including conditions that are outside of its control, such as the impact of health and safety concerns from the outbreak of COVID-19. The outbreak in China has resulted in the reduction of customer traffic and temporary closures of shopping malls as mandated by the provincial governments in various provinces of China, which has adversely affected the company in the retail business with a decline in sales since February 2020. The Company’s wholesale business is also significantly affected as the Company is facing a sharp decline in its order quantities. Some of the Company’s wholesale clients have also cancelled or postponed existing orders. Due to the Chinese factories’ shutdowns and traffic restrictions during the outbreak in China and potential shutdowns and traffic restrictions in the countries where the Company’s suppliers are located, The Company’s supply chain and business operations of its suppliers may be affected. Disruptions from the closure of supplier and manufacturer facilities, interruptions in the supply of raw materials and components, personnel absences, or restrictions on the shipment of the Company’s or its suppliers’ or customers’ products, could have adverse ripple effects on the Company’s manufacturing output and delivery schedule. The Company could also face difficulties in collecting its accounts receivables due to the effects of COVID-19 on its customers and risk gaining a large amount of bad debt. Global health concerns, such as COVID-19, could also result in social, economic, and labor instability in the countries and localities in which the Company, its suppliers and customers operate. Although China has already begun to recover from the outbreak of COVID-19, the epidemic continues to spread on a global scale and there is the risk of the epidemic returning to China in the future, thereby causing further business interruption. While the potential economic impact brought by and the duration of COVID-19 may be difficult to assess or predict, a widespread pandemic could result in significant disruption of global financial markets, reducing our ability to access capital, which could in the future negatively affect the Company’s liquidity. In addition, a recession or market correction resulting from the spread of COVID-19 could materially affect the Company’s business and the value of its common stock. If the Company’s future sales continue to decline significantly, it may risk facing financial difficulties due to its recurring fixed expenses. The extent to which COVID-19 impacts the Company’s operating is uncertain and cannot be predicted at this time, and it will depend on many factors and future developments, including new information about COVID-19 and any new government regulations which may emerge to contain the virus, among others. The majority 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. Credit risk The Company extends unsecured credit to its customers in the normal course of business and generally does not require collateral. As a result, management performs ongoing credit evaluations, and the Company maintains an allowance for potential credit losses based upon its loss history and its aging analysis. Management reviews the allowance for doubtful accounts each reporting period based on a detailed analysis of accounts receivable. In the analysis, management primarily considers the age of the customer’s receivable and also considers the credit worthiness of the customer, the economic conditions of the customer’s industry, and general economic conditions and trends, among other factors. If any of these factors change, the Company may also change its original estimates, which could impact the level of the Company’s future allowance for doubtful accounts. If judgments regarding the collectability of accounts receivables are incorrect, adjustments to the allowance may be required, which would reduce profitability. Concentration risk For the three-month period ended March 31, 2022, the Company had two wholesale customer that represented approximately 13.2% and 10.0% of the Company’s revenues. For the three-month period ended March 31, 2021, the Company had only one wholesale customer that represented approximately 12.6% of the Company’s revenues. For the wholesale business, the Company did not rely on any raw material supplier that represented more than 10% of the total raw material purchases during the three months ended March 31, 2022 and 2021. For the retail business, the Company relied on three raw material suppliers that represented approximately 45.2%，34.7% and 20.1% of raw material purchases during the three months ended March 31, 2022. The Company relied on two raw material suppliers that represented approximately 46% and 38% of raw material purchases during the three months ended March 31, 2021. For the wholesale business, during the three months ended March 31, 2022 the Company relied on one finished goods supplier which is a related-party that represented 22.4% of the total finished goods purchases and during the three months ended March 31, 2021, the Company relied on one manufacturer that represented 14.4% of finished goods purchases. For the retail business, the Company did not rely on any supplier that represented more than 10% of the total finished goods purchases during the three months ended March 31, 2022 and 2021. The Company’s revenues for the three months ended March 31, 2022 and 2021 were earned in the following geographic areas: 2022 2021 (In thousands of Mainland China $ 9,175 $ 7,490 Hong Kong China 4,293 4,056 United Kingdom 759 1,053 Europe-Other 4,927 4,146 Japan 5,145 3,405 United States 5,578 3,069 Total wholesale business 29,877 23,219 Retail business 34,896 47,595 Total $ 64,773 $ 70,814

Segments

Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENTS	NOTE 12 SEGMENTS The Company reports financial and operating information in the following two segments: (a) Wholesale segment (b) Retail segment Wholesale Retail Total (In thousands of U.S. Dollars) As of and for the period ended March 31, 2022 Segment profit or loss: Net revenue from external customers $ 29,877 34,896 64,773 Loss from operations $ 490 (3,798 ) (3,308 ) Interest income $ 171 15 186 Interest expense $ 613 0 613 Depreciation and amortization $ 464 1,683 2,147 Loss before income tax expense (495 ) (3,482 ) (3,977 ) Income tax expense $ 413 699 1,112 Segment assets: Additions to property, plant and equipment 1,972 535 2,507 Inventory 26,866 38,147 65,013 Total assets 178,818 144,193 323,011 Wholesale Retail Total (In thousands of U.S. Dollars) As of and for the period ended March 31, 2021 Segment profit or loss: Net revenue from external customers $ 23,219 47,595 70,814 Loss from operations $ (705 ) (259 ) (964 ) Interest income $ 196 28 224 Interest expense $ 466 26 492 Depreciation and amortization $ 261 1,116 1,377 Loss before income tax expense (387 ) (54 ) (441 ) Income tax expense $ 325 404 729 Segment assets: Additions to property, plant and equipment 734 644 1,378 Inventory 13,913 29,429 43,342 Total assets 181,535 148,081 329,616

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 13 SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date which the consolidated financial statements were available to be issued. All subsequent events requiring recognition as of March 31, 2022 have been incorporated into these consolidated financial statements and there are no significant subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates In preparing our condensed consolidated financial statements, we use estimates and assumptions that affect the reported amounts and disclosures. Our estimates are often based on complex judgments, probabilities and assumptions that we believe to be reasonable, but that are inherently uncertain and unpredictable. We are also subject to other risks and uncertainties that may cause actual results to differ from estimated amounts. Significant estimates include the assumptions used to value tax liabilities, the estimates of the allowance for deferred tax assets, and the accounts receivable allowance, and impairment of long-lived assets and inventory write off.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” The Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have a significant impact on the Company’s consolidated financial statements.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
Schedule of net gains and losses	March 31, March 31, (In thousands of Net gains recognized during the period on equity securities $ 283 $ 262 Less: Net gains recognized during the period on equity securities sold during the period 2 54 Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 281 $ 208

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	March 31, December 31, (In thousands of Raw materials $ 1,463 $ 1,375 Work-in-progress 24,285 14,375 Finished goods 39,265 48,091 Total inventories $ 65,013 $ 63,841

Bank Loans (Tables)

Bank Loans (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of short-term bank loans	March 31, December 31, Bank (In thousands of Shanghai Pudong Development Bank $ 40,950 $ 39,200 Industrial and Commercial Bank of China 20,475 21,952 Nanjing Bank 7,875 7,840 $ 69,300 $ 68,992

Income Tax (Tables)

Income Tax (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of tax liability adjustment resulted from the reevaluation of the company’s tax position	2022 2021 (In thousands of PRC $ (3,974 ) $ (438 ) Others (3 ) (3 ) $ (3,977 ) $ (441 )
Schedule of reconciles the U.S. statutory rates to the company’s effective tax rate	2022 2021 (In thousands of U.S. tax rate 21.0 % 21.0 % Valuation allowance recognized with respect to the loss (52.9 )% (103.9 )% Foreign tax rate differential 4.0 % 4.0 % Others - (86.8 )% Effective income tax rate (27.9 )% (165.7 )%
Schedule of income tax expense	2022 2021 (In thousands of Current U.S. Federal Foreign $ 415 $ 706 Total Deferred $ 415 $ 706 Deferred U.S. Federal Foreign $ 697 $ 23 Total Deferred $ 697 $ 23 Income tax expense $ 1,112 $ 729
Schedule of deferred tax assets net of valuation allowance	March 31, December 31, (In thousands of Inventories, net $ 2,623 $ 1,684 Accounts receivable, net 580 624 Deferred income 2,092 2,387 Accrued expenses 1,148 2,464 Depreciation 156 108 Net operating loss carryforward 4,659 3,782 Deferred tax assets 11,258 11,049 Valuation allowance (11,056 ) (10,150 ) Deferred tax assets, net $ 202 $ 899

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Schedule of home goods on consignment	2022 2021 (In thousands of The Company received from the customers $ - 3 The Company paid to Wubijia - (3 ) The net income recorded as other income $ - $ -
Schedule of rental expenses due to entities controlled by Mr. Kang under operating lease agreements	2022 2021 (In thousands of Chuzhou Huarui 56 55 Kunshan Enjin 12 23 Total $ 68 $ 78
Schedule of related parties included in cost of sales	2022 2021 (In thousands of Ever-Glory Vietnam $ 3,269 $ 3,083 Chuzhou Huarui 301 491 Fengyang Huarui 288 319 Nanjing Ever-Kyowa 438 391 Nanjing Knitting 245 EsC’eLav - 6 Jiangsu Ever-Glory - 457 Total $ 4,541 $ 4,747
Schedule of accounts payable to related parties	2022 2021 (In thousands of Ever-Glory Vietnam $ - 395 Fengyang Huarui 116 161 Nanjing Ever-Kyowa 133 - Chuzhou Huarui 414 59 Nanjing Knitting 648 668 Jiangsu Ever-Glory 163 49 Total $ 1,474 $ 1,332
Schedule of amounts due from related parties	2022 2021 (In thousands of Jiangsu Ever-Glory $ - $ 220 Ever-Glory Vietnam 1,308 - Total $ 1,308 $ 220

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of maturity of operating lease liabilities	Year ending March 31, (In thousands of U.S. Dollars) 2022 $ 573 2023 883 2024 441 2025 441 2026 441 Thereafter 12,718 Total lease payment 15,497 Less: Interest 6,869 Total $ 8,628

Risks and Uncertainties (Tables

Risks and Uncertainties (Tables)	3 Months Ended
	Mar. 31, 2022
Risks and Uncertainties [Abstract]
Schedule of company's revenues as per geographic areas	2022 2021 (In thousands of Mainland China $ 9,175 $ 7,490 Hong Kong China 4,293 4,056 United Kingdom 759 1,053 Europe-Other 4,927 4,146 Japan 5,145 3,405 United States 5,578 3,069 Total wholesale business 29,877 23,219 Retail business 34,896 47,595 Total $ 64,773 $ 70,814

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of retail segment	Wholesale Retail Total (In thousands of U.S. Dollars) As of and for the period ended March 31, 2022 Segment profit or loss: Net revenue from external customers $ 29,877 34,896 64,773 Loss from operations $ 490 (3,798 ) (3,308 ) Interest income $ 171 15 186 Interest expense $ 613 0 613 Depreciation and amortization $ 464 1,683 2,147 Loss before income tax expense (495 ) (3,482 ) (3,977 ) Income tax expense $ 413 699 1,112 Segment assets: Additions to property, plant and equipment 1,972 535 2,507 Inventory 26,866 38,147 65,013 Total assets 178,818 144,193 323,011 Wholesale Retail Total (In thousands of U.S. Dollars) As of and for the period ended March 31, 2021 Segment profit or loss: Net revenue from external customers $ 23,219 47,595 70,814 Loss from operations $ (705 ) (259 ) (964 ) Interest income $ 196 28 224 Interest expense $ 466 26 492 Depreciation and amortization $ 261 1,116 1,377 Loss before income tax expense (387 ) (54 ) (441 ) Income tax expense $ 325 404 729 Segment assets: Additions to property, plant and equipment 734 644 1,378 Inventory 13,913 29,429 43,342 Total assets 181,535 148,081 329,616

Investments (Details)

Investments (Details) ¥ in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Aug. 31, 2020USD ($)	Aug. 31, 2020CNY (¥)	Mar. 31, 2022USD ($)	Mar. 31, 2022CNY (¥)	Sep. 30, 2021USD ($)	Sep. 30, 2021CNY (¥)
Investments [Abstract]
Invested amount	$ 3.2	¥ 20
Partnership percentage	2.38%	2.38%
General partner of the partnership agreement, description			In the meantime, the Company entered an agreement with the general partner of the Partnership (GP) and an individual that the Company has the privilege to sell the ownership interests in the Partnership to GP or the individual for the consideration of the average net asset value ten trading days prior to the closing date, if the Company is not able to withdraw any part of the original investment from the Partnership in the twelve months period beginning the third year of the initial investment (“optional withdrawal period”). If the Company opts to withdraw entire investment during the optional withdrawal period, the GP will compensate up to 8% of annual return on investment. If the return on investment is in excess of 8% for any portion of the investment withdrawn during the optional withdrawal period, then 20% of the return in excess of 8% will be shared with the individual. The Company may also continue to invest in the Partnership beyond the optional withdrawal period, but none of above agreement with the GP and the individual is in place.
Promised investment amount					$ 7.9	¥ 50
Cash interest percentage					20.00%	20.00%
Original investment amount percentage					8.00%	8.00%
Advanced amount of investment			$ 1.6	¥ 10
Additional investment			$ 0.8	¥ 5

Investments (Details) - Schedul

Investments (Details) - Schedule of net gains and losses - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of net gains and losses [Abstract]
Net gains recognized during the period on equity securities	$ 283	$ 262
Less: Net gains recognized during the period on equity securities sold during the period	2	54
Unrealized gains recognized during the reporting period on equity securities still held at the reporting date	$ 281	$ 208

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of inventories [Abstract]
Raw materials	$ 1,463	$ 1,375
Work-in-progress	24,285	14,375
Finished goods	39,265	48,091
Total inventories	$ 65,013	$ 63,841

Restricted Cash (Details)

Restricted Cash (Details) ¥ in Millions, $ in Millions	Mar. 31, 2022USD ($)	Mar. 31, 2022CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2021CNY (¥)
Shanghai Pudong Development Bank [Member]
Restricted Cash (Details) [Line Items]
Restricted cash	$ 40.9	¥ 260	$ 39.2	¥ 250
Nanjing Bank [Member]
Restricted Cash (Details) [Line Items]
Restricted cash	$ 1.6	¥ 10	$ 1.6	¥ 10

Bank Loans (Details)

Bank Loans (Details) ¥ in Millions

1 Months Ended

3 Months Ended

5 Months Ended

12 Months Ended

Sep. 30, 2021USD ($)

Jun. 30, 2021USD ($)

May 31, 2021USD ($)

May 31, 2021CNY (¥)

Aug. 31, 2019USD ($)

Aug. 31, 2019CNY (¥)

Mar. 31, 2022USD ($)

Nov. 30, 2021USD ($)

Jul. 31, 2020USD ($)

Dec. 31, 2020USD ($)

Mar. 31, 2022CNY (¥)

Nov. 30, 2021CNY (¥)

Sep. 30, 2021CNY (¥)

Jun. 30, 2021CNY (¥)

Mar. 31, 2021USD ($)

Dec. 31, 2020CNY (¥)

Jul. 31, 2020CNY (¥)

Apr. 30, 2020USD ($)

Apr. 30, 2020CNY (¥)

Bank Loans (Details) [Line Items]

Line of credit agreement amount

$ 600,000

$ 500,000

Shanghai Pudong Development Bank [Member]

Bank Loans (Details) [Line Items]

Time deposit

$ 29,900,000

Ever Glory Apparel [Member]

Bank Loans (Details) [Line Items]

Borrowed loans amount

14,200,000

¥ 90

Line of credit

$ 1.6

10

Ever Glory Apparel [Member] | Minimum [Member]

Bank Loans (Details) [Line Items]

Line of credit annual interest rates

3.92%

Ever Glory Apparel [Member] | Maximum [Member]

Bank Loans (Details) [Line Items]

Line of credit annual interest rates

4.35%

Ever Glory Apparel [Member] | Shanghai Pudong Development Bank [Member]

Bank Loans (Details) [Line Items]

Time deposit

$ 29,900,000

¥ 190

¥ 190

Ever Glory Apparel [Member] | Shanghai Pudong Development Bank [Member] | Minimum [Member]

Bank Loans (Details) [Line Items]

Line of credit annual interest rates

2.60%

3.75%

Ever Glory Apparel [Member] | Shanghai Pudong Development Bank [Member] | Maximum [Member]

Bank Loans (Details) [Line Items]

Line of credit annual interest rates

2.90%

3.99%

Ever Glory Apparel [Member] | Industrial and Commercial Bank of China [Member]

Bank Loans (Details) [Line Items]

Line of credit agreement amount

$ 15,800,000

¥ 100

Goldenway [Member]

Bank Loans (Details) [Line Items]

Line of credit annual interest rates

3.36%

Goldenway [Member] | Shanghai Pudong Development Bank [Member]

Bank Loans (Details) [Line Items]

Time deposit

$ 17,300,000

¥ 110

Line of credit annual interest rates

3.85%

Due date of revolving line of credit agreement, description

From July 2021 to February 2022, Goldenway pledged the certificate of three-year time deposit to the Shanghai Pudong Development Bank and Goldenway had borrowed $11.0 million (RMB 70.0 million) under this line of certificate with annual interest rate from 2.60% to 2.90%, due between June 2022 and February 2023.

Goldenway [Member] | Industrial and Commercial Bank of China [Member]

Bank Loans (Details) [Line Items]

Due date of revolving line of credit agreement, description

As of March 31, 2022, Goldenway had borrowed $6.3 million (RMB40.0 million) from Industrial and Commercial Bank of China with an annual interest rate 4.57% and due in August 2022.

Borrowed loans amount

$ 6,300,000

¥ 40

Goldenway [Member] | Nanjing Bank [Member]

Bank Loans (Details) [Line Items]

Line of credit annual interest rates

3.44%

Borrowed loans amount

$ 3,200,000

¥ 20

Line of credit

$ 800,000

¥ 5

Line of credit agreement amount

$ 4,700,000

¥ 30

$ 7,100,000

¥ 45

Goldenway pledged

$ 1,600,000

¥ 10

Line of credit increased

$ 8,700,000

¥ 55

Bank Loans (Details) - Schedule

Bank Loans (Details) - Schedule of short-term bank loans - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Bank loans	$ 69,300	$ 68,992
Shanghai Pudong Development Bank [Member]
Short-Term Debt [Line Items]
Bank loans	40,950	39,200
Industrial and Commercial Bank of China [Member]
Short-Term Debt [Line Items]
Bank loans	20,475	21,952
Nanjing Bank [Member]
Short-Term Debt [Line Items]
Bank loans	$ 7,875	$ 7,840

Income Tax (Details)

Income Tax (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022HKD ($)
Income Tax (Details) [Line Items]
PRC statutory rate	25.00%
Income tax rate, percentage	16.50%
Profit (in Dollars)	$ 2
U.S. tax reform, description	The U.S. Tax Reform signed into law on December 22, 2017 significantly modified the U.S. Internal Revenue Code by, among other things, reducing the statutory U.S. federal corporate income tax rate from 35% to 21% for taxable years beginning after December 31, 2017; limiting and/or eliminating many business deductions; migrating the U.S. to a territorial tax system with a one-time transition tax on a mandatory deemed repatriation of previously deferred foreign earnings of certain foreign subsidiaries; subject to certain limitations, generally eliminating U.S. corporate income tax on dividends from foreign subsidiaries; and providing for new taxes on certain foreign earnings.
Hongkong [Member]
Income Tax (Details) [Line Items]
Income tax rate, percentage	8.25%
Profit (in Dollars)	$ 2
PRC [Member]
Income Tax (Details) [Line Items]
Income tax rate for dividends distribution	10.00%

Income Tax (Details) - Schedule

Income Tax (Details) - Schedule of tax liability adjustment resulted from the reevaluation of the company’s tax position - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax (Details) - Schedule of tax liability adjustment resulted from the reevaluation of the company’s tax position [Line Items]
Pre-tax loss	$ (3,977)	$ (441)
PRC [Member]
Income Tax (Details) - Schedule of tax liability adjustment resulted from the reevaluation of the company’s tax position [Line Items]
Pre-tax loss	(3,974)	(438)
Others [Member]
Income Tax (Details) - Schedule of tax liability adjustment resulted from the reevaluation of the company’s tax position [Line Items]
Pre-tax loss	$ (3)	$ (3)

Income Tax (Details) - Schedu_2

Income Tax (Details) - Schedule of reconciles the U.S. statutory rates to the company’s effective tax rate	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of reconciles the U.S. statutory rates to the company’s effective tax rate [Abstract]
U.S. tax rate	21.00%	21.00%
Valuation allowance recognized with respect to the loss	(52.90%)	(103.90%)
Foreign tax rate differential	4.00%	4.00%
Others		(86.80%)
Effective income tax rate	(27.90%)	(165.70%)

Income Tax (Details) - Schedu_3

Income Tax (Details) - Schedule of income tax expense - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Current
Foreign	$ 415	$ 706
Total Deferred	415	706
Deferred
Foreign	697	23
Total Deferred	697	23
Income tax expense	$ 1,112	$ 729

Income Tax (Details) - Schedu_4

Income Tax (Details) - Schedule of deferred tax assets net of valuation allowance - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Schedule of deferred tax assets net of valuation allowance [Abstract]
Inventories, net	$ 2,623	$ 1,684
Accounts receivable, net	580	624
Deferred income	2,092	2,387
Accrued expenses	1,148	2,464
Depreciation	156	108
Net operating loss carryforward	4,659	3,782
Deferred tax assets	11,258	11,049
Valuation allowance	(11,056)	(10,150)
Deferred tax assets, net	$ 202	$ 899

Stockholders' Equity (Details)

Stockholders' Equity (Details)	Jan. 26, 2022$ / sharesshares	Feb. 09, 2021$ / sharesshares	Aug. 31, 2021shares	Mar. 31, 2022USD ($)
Stockholders' Equity (Details) [Line Items]
Repurchase shares			147,334
Stock repurchased			14,746
Treasury stock carried cost (in Dollars) | $				$ 400
Two Independent Directors [Member]
Stockholders' Equity (Details) [Line Items]
Common stock shares issued to independent directors	2,042	1,500
Number of directors	2	2
Average market price of the common stock for the five days before the grant date (in Dollars per share) | $ / shares	$ 2.47	$ 3.34

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transactions (Details) [Line Items]
Rental income	$ 6,502	$ 6,366
Sub-contracts with related parties, description	the Company sub-contracted certain manufacturing work to related companies totaled $4.5 million and $4.7 million for the three months ended March 31, 2022 and 2021, respectively. The Company provided raw materials to the sub-contractors and charged a fixed fee for labor provided by the sub-contractors.
Mr. Kang [Member]
Related Party Transactions (Details) [Line Items]
Maximum aggregate percentage	83.00%
Nanjing Knitting [Member]
Related Party Transactions (Details) [Line Items]
Purchased raw materials	$ 200	200
Jiangsu Ever-Glory[Member]
Related Party Transactions (Details) [Line Items]
Guarantees on lines of credit	20	1,800
Lines of credit	$ 0	$ 500

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of home goods on consignment - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of home goods on consignment [Abstract]
The Company received from the customers		$ 3
The Company paid to Wubijia		(3)
The net income recorded as other income

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of rental expenses due to entities controlled by Mr. Kang under operating lease agreements - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transactions (Details) - Schedule of rental expenses due to entities controlled by Mr. Kang under operating lease agreements [Line Items]
Total	$ 68	$ 78
Chuzhou Huarui [Member]
Related Party Transactions (Details) - Schedule of rental expenses due to entities controlled by Mr. Kang under operating lease agreements [Line Items]
Total	56	55
Kunshan Enjin [Member]
Related Party Transactions (Details) - Schedule of rental expenses due to entities controlled by Mr. Kang under operating lease agreements [Line Items]
Total	$ 12	$ 23

Related Party Transactions (D_4

Related Party Transactions (Details) - Schedule of related parties included in cost of sales - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total	$ 4,541	$ 4,747
Ever Glory Vietnam [Member]
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total	3,269	3,083
Chuzhou Huarui [Member]
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total	301	491
Fengyang Huarui [Member]
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total	288	319
Nanjing Ever Kyowa [Member]
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total	438	391
Nanjing Knitting [Member]
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total	245
EsCeLav [Member]
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total		6
JiangsuEverGlory[Member]
Related Party Transactions (Details) - Schedule of related parties included in cost of sales [Line Items]
Total		$ 457

Related Party Transactions (D_5

Related Party Transactions (Details) - Schedule of accounts payable to related parties - Accounts Payable [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Ever Glory Vietnam [Member]
Related Party Transactions (Details) - Schedule of accounts payable to related parties [Line Items]
Total		$ 395
Fengyang Huarui [Member]
Related Party Transactions (Details) - Schedule of accounts payable to related parties [Line Items]
Total	116	161
Nanjing Ever Kyowa [Member]
Related Party Transactions (Details) - Schedule of accounts payable to related parties [Line Items]
Total	133
Chuzhou Huarui [Member]
Related Party Transactions (Details) - Schedule of accounts payable to related parties [Line Items]
Total	414	59
Nanjing Knitting [Member]
Related Party Transactions (Details) - Schedule of accounts payable to related parties [Line Items]
Total	648	668
Jiangsu Ever-Glory [Member]
Related Party Transactions (Details) - Schedule of accounts payable to related parties [Line Items]
Total	163	49
Accounts Payable [Member]
Related Party Transactions (Details) - Schedule of accounts payable to related parties [Line Items]
Total	$ 1,474	$ 1,332

Related Party Transactions (D_6

Related Party Transactions (Details) - Schedule of amounts due from related parties - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Total	$ 1,308	$ 220
JiangsuEverGlory[Member]
Related Party Transaction [Line Items]
Total		220
Ever Glory Vietnam [Member]
Related Party Transaction [Line Items]
Total	$ 1,308

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Commitments and Contingencies (Details) [Line Items]
weighted average remaining lease term	29 years
weighted average discount rate	4.35%
General administrative expenses	$ 6,994	$ 7,851
Cash paid for operating leases	15,497
Operating cash paid	10,000
Operating Lease Commitment [Member]
Commitments and Contingencies (Details) [Line Items]
Cost of revenue	7,200	9,900
General administrative expenses	200	$ 100
Cash paid for operating leases	$ 7,400

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of maturity of operating lease liabilities $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Schedule of maturity of operating lease liabilities [Abstract]
2022	$ 573
2023	883
2024	441
2025	441
2026	441
Thereafter	12,718
Total lease payment	15,497
Less: Interest	6,869
Total	$ 8,628

Risks and Uncertainties (Detail

Risks and Uncertainties (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Risks and Uncertainties (Details) [Line Items]
Total raw material purchases, percentage	10.00%	10.00%
Total finished goods purchases, percentage	22.40%	14.40%
Retail Business [Member]
Risks and Uncertainties (Details) [Line Items]
Total finished goods purchases, percentage	10.00%	10.00%
Customer One [Member]
Risks and Uncertainties (Details) [Line Items]
Percentage of revenues	13.20%	12.60%
Wholesale Customer Two [Member]
Risks and Uncertainties (Details) [Line Items]
Percentage of revenues	10.00%
Supplier One [Member] | Retail Business [Member]
Risks and Uncertainties (Details) [Line Items]
Raw material purchases, percentage	45.20%	46.00%
Supplier Two [Member] | Retail Business [Member]
Risks and Uncertainties (Details) [Line Items]
Raw material purchases, percentage	34.70%	38.00%
Supplier Three [Member] | Retail Business [Member]
Risks and Uncertainties (Details) [Line Items]
Raw material purchases, percentage	20.10%

Risks and Uncertainties (Deta_2

Risks and Uncertainties (Details) - Schedule of company's revenues as per geographic areas - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Mainland China [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 9,175	$ 7,490
Hong Kong China [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,293	4,056
United Kingdom [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	759	1,053
Europe-Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,927	4,146
Japan [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	5,145	3,405
United States [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	5,578	3,069
Total wholesale business [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	29,877	23,219
Retail business [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	34,896	47,595
Total [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 64,773	$ 70,814

Segments (Details) - Schedule o

Segments (Details) - Schedule of retail segment - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment profit or loss:
Net revenue from external customers	$ 64,773	$ 70,814
Loss from operations	(3,308)	(964)
Interest income	186	224
Interest expense	613	492
Depreciation and amortization	2,147	1,377
Loss before income tax expense	(3,977)	(441)
Income tax expense	1,112	729
Additions to property, plant and equipment	2,507	1,378
Inventory	65,013	43,342
Total assets	323,011	329,616
Wholesale segment [Member]
Segment profit or loss:
Net revenue from external customers	29,877	23,219
Loss from operations	490	(705)
Interest income	171	196
Interest expense	613	466
Depreciation and amortization	464	261
Loss before income tax expense	(495)	(387)
Income tax expense	413	325
Additions to property, plant and equipment	1,972	734
Inventory	26,866	13,913
Total assets	178,818	181,535
Retail segment [Member]
Segment profit or loss:
Net revenue from external customers	34,896	47,595
Loss from operations	(3,798)	(259)
Interest income	15	28
Interest expense	0	26
Depreciation and amortization	1,683	1,116
Loss before income tax expense	(3,482)	(54)
Income tax expense	699	404
Additions to property, plant and equipment	535	644
Inventory	38,147	29,429
Total assets	$ 144,193	$ 148,081