XML 30 R19.htm IDEA: XBRL DOCUMENT v3.22.1
Trade and Bills Payable
 3 Months Ended
Mar. 31, 2022
Trade and Bills Payable [Abstract]  
Trade and Bills Payable

13. Trade and Bills Payable

 

Trade and bills payable as of December 31, 2021 and March 31, 2022 consisted of the followings:

 

   December 31,   March 31, 
   2021   2022 
Trade accounts payable  $40,352,638   $46,550,602 
Bills payable          
– Bank acceptance bills   25,023,574    32,719,399 
           
   $65,376,212   $79,270,001 

 

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 2);

 

(ii)$4.4 million and $5.0 million of the Company’s bills receivable as of December 31, 2021 and March 31, 2022, respectively (Note 3).

 

(iii)the Company’s prepaid land use rights (note 9)