XML 29 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Trade Accounts and Bills Payable
 6 Months Ended
Jun. 30, 2018
Trade Accounts and Bills Payable [Text Block]
11.

Trade Accounts and Bills Payable

Trade accounts and bills payable as of December 31, 2017 and June 30, 2018 consisted of the followings:

    December 31,     June 30,  
    2017     2018  
Trade accounts payable $ 29,805,350   $ 27,907,368  
Bills payable            
-      Bank acceptance bills (Note 1)   34,025,080     24,887,205  
-      Commercial acceptance bills   1,786,113     4,237,738  
  $ 65,616,543   $ 57,032,311  

All the bills payable are of trading nature and will mature within six months to one year from the issue date.

The bank acceptance bills were pledged by:

  (i)

the Company’s bank deposits (Note 2);and
     
  (ii)

$19,047,471 and $5,864,148 of the Company’s bills receivable as of December 31, 2017 and June 30, 2018, respectively (Note 3).