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Loans (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of bank borrowings

		December 31,				December 31,
		2020				2021
Current maturities of long-term bank loans		$	13,739,546			$	-
Short-term bank borrowings			-				8,811,820
		$	13,739,546			$	8,811,820

Schedule of facilities were also secured by the company’s assets

		December 31,				December 31,
		2020				2021
Pledged deposits (note 3)		$	8,791,499			$	18,996,749
Bills receivables (note 4)			-				4,446,553
Right-of-use assets (note 10)			7,500,780				6,286,473
Buildings			16,721,178				8,565,837
Machinery and equipment			4,926,886				-
		$	37,940,343			$	38,295,612

Schedule of other short-term loans

						December 31,				December 31,
		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				153,300
– Shareholders			(c)				92,446				94,971
– Mr. Junnan Ye (Note 12)							-				3,933,848
							471,185				4,282,119
Advances from unrelated third party
– Mr. Wenwu Yu			(d)				16,823				17,282
– Ms. Longqian Peng			(d)				689,275				301,044
– Suzhou Zhengyuanwei Needle Ce Co., Ltd			(e)				76,586				78,677
							782,684				397,003
						$	1,253,869			$	4,679,122

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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.

+ References

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 https://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.

+ 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 210.5-02.19)
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