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Loans (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of bank borrowings

		December 31,				June 30,
		2020				2021
Current maturities of long-term bank loans		$	13,739,546			$	-

Schedule of facilities secured by the company's assets

		December 31,				June 30,
		2020				2021
Pledged deposits (note 2)		$	8,791,499			$	19,065,551
Right-of-use assets (note 11)			7,500,780				-
Buildings			16,721,178				-
Machinery and equipment			4,926,886				-
		$	37,940,343			$	19,065,551

Schedule of other short-term loans

				December 31,				June 30,
		Note		2020				2021
Advance from related parties
– Mr. Xiangqian Li, the Company’s Former CEO		(a)		$	100,000			$	100,000
– Mr. Yunfei Li		(b)			278,739				95,397
– Shareholders		(c)			92,446				93,449
					471,185				288,846
Advances from unrelated third party
– Mr. Wenwu Yu		(d)			16,823				17,005
– Ms. Longqian Peng		(d)			689,275				446,970
– Suzhou Zhengyuanwei Needle Ce Co., Ltd		(e)			76,586				77,416
					782,684				541,391
				$	1,253,869			$	830,237

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of the carrying amount and classification of assets and liabilities recognized in the transferor's statement of financial position at the end of each period presented.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 50
-Paragraph 1A
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729

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Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
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