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Loans (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Schedule of bank borrowings |
|  | December 31, |  |  | September 30, |
|  | 2020 |  |  | 2021 |
Current maturities of long-term bank loans |  | $ | 13,739,546 |  |  | $ | - |
Schedule of facilities were also secured by the company’s assets |
|  | December 31, |  |  | September 30, |
|  | 2020 |  |  | 2021 |
Pledged deposits (note 2) |  | $ | 8,791,499 |  |  | $ | 15,552,996 |
Bills receivable (note 3) |  |  | - |  |  |  | 100,828 |
Right-of-use assets (note 11) |  |  | 7,500,780 |  |  |  | - |
Buildings |  |  | 16,721,178 |  |  |  | - |
Machinery and equipment |  |  | 4,926,886 |  |  |  | - |
|  | $ | 37,940,343 |  |  | $ | 15,653,824 |
Schedule of other short-term loans |
|  |  |  | December 31, |  |  | September 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 |  |  |  | 95,574 |
– Shareholders |  | (c) |  |  | 92,446 |  |  |  | 93,622 |
|  |  |  |  | 471,185 |  |  |  | 289,196 |
Advances from unrelated third party |  |  |  |  |  |  |  |  |  |
– Mr. Wenwu Yu |  | (d) |  |  | 16,823 |  |  |  | 17,037 |
– Mr. Longqian Peng |  | (d) |  |  | 689,275 |  |  |  | 296,770 |
– Suzhou Zhengyuanwei Needle Ce Co., Ltd |  | (e) |  |  | 76,586 |  |  |  | 77,560 |
|  |  |  |  | 782,684 |  |  |  | 391,367 |
|  |  |  | $ | 1,253,869 |  |  | $ | 680,563 |
| (a) | Advances from Mr. Xiangqian Li, the Company’s former CEO, was unsecured, non-interest bearing and repayable on demand.
| (b) | Advances from Mr. Yunfei Li, the Company’s CEO, was unsecured, non-interest bearing and repayable on demand.
| (c) | The earnest money paid by certain shareholders in relation to share purchase (note 1) were unsecured, non-interest bearing and repayable on demand. In 2019, according to the investment agreements and agreed by the investors, the Company returned earnest money of $949,317 (approximately RMB6.7 million) to these investors.
| (d) | Advances from unrelated third parties were unsecured, non-interest bearing and repayable on demand.
| (e) | In 2019, the Company entered into a short term loan agreement with Suzhou Zhengyuanwei Needle Ce Co., Ltd, an unrelated party to loan RMB0.6 million (approximately $0.1 million), bearing annual interest rate of 12%. As of September 30, 2021, loan amount of RMB0.5 million ($77,560) remained outstanding.

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