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Bank Borrowings | 9 Months Ended | 12 Months Ended
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Sep. 30, 2021 | Dec. 31, 2020
Bank Borrowings [Abstract] |  |
BANK BORROWINGS | 9. BANK BORROWINGS The Group entered into loan agreements and bank facilities with Chinese banks and a German bank. The original terms of the loans from Chinese banks range from 6 to 12 months and the interest rates range from 5.00% to 6.00% per annum. As of September 30, 2021, the balance of the loans from Chinese bank was $13,191. The bank facility agreement with the German bank includes a $13.0 million (EUR11 million) 8-year maturity term loan and a $4.7 million (EUR4 million) revolving facility (“German Bank Facility Agreement”). The interest rate of the 8-year maturity term loan is EURIBOR plus a margin rate determined by the financial leverage ratio of the Group. The $4.7 million (EUR4 million) revolving facility at 6.00% annual interest, needs to be renewed every year (60 days in advance). During the nine months ended September 30, 2021, the Group drew down the 8-year maturity term loan to the amount of $9,660. On October 1, 2021, the Company had entered into the termination agreement with the German Bank to cancel the German Bank Facility Agreement. All outstanding amounts under the loan were repaid on October 8, 2021. Changes in bank borrowings are as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2021 |  | 2020 |  | 2021
Beginning balance |  | $ | 9,412 |  |  | $ | 26,458 |  |  | $ | 11,922 |  |  | $ | 12,184 |
Proceeds from bank borrowings |  |  | 5,757 |  |  |  | — |  |  |  | 15,230 |  |  |  | 26,603 |
Repayments of principal |  |  | (5,696 | ) |  |  | (3,400 | ) |  |  | (17,590 | ) |  |  | (15,665 | )
Exchange difference |  |  | 321 |  |  |  | (207 | ) |  |  | 232 |  |  |  | (271 | )
Ending balance |  | $ | 9,794 |  |  | $ | 22,851 |  |  | $ | 9,794 |  |  | $ | 22,851 |
All balance of bank borrowings as of September 30, 2021 and December 31, 2020 are current borrowings. Certain assets of the Group had been pledged to secure the above banking facilities granted to the Group. The aggregate carrying amount of the assets pledged by the Group as of December 31, 2020 and September 30, 2021 are as follows:
|  | December 31, 2020 |  | September 30, 2021
Buildings |  | $ | 22,732 |  | $ | 31,479
Machinery and equipment |  |  | 19,297 |  |  | 17,173
Land use rights |  |  | 2,789 |  |  | 4,448
Total |  | $ | 44,818 |  | $ | 53,100
In addition, the Group’s related parties Ochem Chemical Co., Ltd (“Ochem”) and Ochemate Material Technologies Co., Ltd (“Ochemate”) provided $20,874 of guarantees to secure certain bank facilities granted to the Group as of December 31, 2020. | 11. BANK BORROWINGS The Group entered into various loan agreements, i.e. banking facilities, with certain Chinese banks. The original terms of the loans range from 2 to 12 months and the interest rates range from 4.68% to 5.66% per annum. Changes in bank borrowings for the years ended December 31, 2019 and 2020 are as follows:
|  | December 31, 2019 |  | December 31, 2020
Beginning balance as of January 1 |  | $ | 66,267 |  |  | $ | 11,922 |
Proceeds from bank borrowings |  |  | 17,735 |  |  |  | 17,308 |
Repayments of principal during the year |  |  | (71,674 | ) |  |  | (17,815 | )
Exchange difference |  |  | (406 | ) |  |  | 769 |
Ending balance as of December 31 |  | $ | 11,922 |  |  | $ | 12,184 |
Including: |  |  |  |  |  |  |  |
Current |  | $ | 11,922 |  |  | $ | 12,184 |
Total |  | $ | 11,922 |  |  | $ | 12,184 |
Certain assets of the Group had been pledged to secure the above banking facilities granted to the Group. The aggregate carrying amount of the assets pledged by the Group as of December 31, 2019 and 2020 are as follows:
|  | December 31, 2019 |  | December 31, 2020
Buildings |  | $ | 22,414 |  | $ | 22,732
Machinery and equipment |  |  | 20,936 |  |  | 19,297
Land use rights |  |  | 2,672 |  |  | 2,789
Total |  | $ | 46,022 |  | $ | 44,818
In addition, the Group’s related parties Ochem Chemical Co., Ltd (“Ochem”) and Ochemate Material Technologies Co., Ltd (“Ochemate”) provided $32,607 and $20,874 of guarantees to secure certain bank facilities granted to the Group as of December 31, 2019 and 2020, respectively.

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