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Trade and Bills Payable
 6 Months Ended
Jun. 30, 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 June 30, 2022 consisted of the followings:

 

   December 31,   June 30, 
   2021   2022 
Trade accounts payable  $40,352,638   $40,477,948 
Bills payable          
– Bank acceptance bills   25,023,574    40,033,246 
           
   $65,376,212   $80,511,194 

 

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 $2.3 million of the Company’s bills receivable as of December 31, 2021 and June 30, 2022, respectively (Note 3).

 

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