The physical presence test is based on a consecutive 365 day period regardless of calendar year. Thus you may be able to qualify for FEIE in both 2019 and 2020 based on the number of qualifying days in each year. So if you can count back to say May 1, 2019 as the beginning of your qualifying period you may be able to exclude about $61,000 of foreign sourced income in 2019. Same thing for 2020 where you may have a FEIE of say $30,000 based on what you say.
Again, the sourcing rules apply to where the services are performed so if your S corp contracts you to do the work while living and working in China, it is foreign sourced income.
