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Loans (Tables)
 6 Months Ended
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.