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Loans (Tables) | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Schedule of bank borrowings |
|  | December 31, |  |  | June 30, |
|  | 2021 |  |  | 2022 |
Short-term bank borrowings |  | $ | 8,811,820 |  |  | $ | 16,875,223 |
Schedule of facilities were also secured by the company’s assets |
|  | December 31, |  |  | June 30, |
|  | 2021 |  |  | 2022 |
Pledged deposits (note 2) |  | $ | 18,996,749 |  |  | $ | 37,117,237 |
Bills receivables (note 3) |  |  | 4,446,553 |  |  |  | 2,313,697 |
Right-of-use assets (note 9) |  |  | 6,268,473 |  |  |  | 5,860,141 |
Buildings |  |  | 8,565,837 |  |  |  | 8,076,882 |
|  | $ | 38,277,612 |  |  | $ | 53,367,957 |
Schedule of other short-term loans |
|  |  |  |  | December 31, |  |  | June 30, |
|  | Note |  |  | 2021 |  |  | 2022 |
Advance from related parties |  |  |  |  |  |  |  |  |
– Mr. Xiangqian Li, the Company’s Former CEO |  |  | (a) |  |  | $ | 100,000 |  |  | $ | 100,000 |
– Mr. Yunfei Li |  |  | (b) |  |  |  | 153,300 |  |  |  | 140,912 |
– Shareholders |  |  | (c) |  |  |  | 94,971 |  |  |  | 90,090 |
– Mr. Junnan Ye (Note 11) |  |  |  |  |  |  | 3,933,848 |  |  |  | - |
|  |  |  |  |  |  | 4,282,119 |  |  |  | 331,002 |
Advances from unrelated third party |  |  |  |  |  |  |  |  |  |  |  |
– Mr. Wenwu Yu |  |  | (d) |  |  |  | 17,282 |  |  |  | 16,394 |
– Ms. Longqian Peng |  |  | (d) |  |  |  | 301,044 |  |  |  | 285,573 |
– Suzhou Zhengyuanwei Needle Ce Co., Ltd |  |  | (e) |  |  |  | 78,677 |  |  |  | 74,633 |
|  |  |  |  |  |  | 397,003 |  |  |  | 376,600 |
|  |  |  |  |  | $ | 4,679,122 |  |  | $ | 707,602 |
| (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 were unsecured, non-interest bearing and repayable on demand.
| (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 June 30, 2022, loan amount of RMB0.5 million ($0.1 million) remained outstanding.

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