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Trade and Bills Payable

12 Months Ended

Dec. 31, 2021

Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]

Trade and Bills Payable

14. Trade and Bills Payable

Trade and bills payable as of December 31, 2020 and 2021 consisted of the followings:

		December 31,				December 31,
		2020				2021
Trade payable		$	19,560,793			$	40,352,638
Bills payable
– Bank acceptance bills			8,791,499				25,023,574
		$	28,352,292			$	65,376,212

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

The bank acceptance bills were pledged by:

(i) the Company’s bank deposits (Note 3);

(ii) $4.4 million of the Company’s bills receivable as of December 31, 2021 (Note 4).

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- References

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- Definition

The entire disclosure for other liabilities.

+ References

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 210.5-02.20,24)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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