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Loans (Tables)
 9 Months Ended
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.