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Trade and Bills Payable
 9 Months Ended
Sep. 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 September 30, 2022 consisted of the followings:

 

   December 31,   September 30, 
   2021   2022 
Trade payable  $40,352,638   $32,202,817 
Bills payable          
- Bank acceptance bills (Note 14)   25,023,574    38,329,543 
   $65,376,212   $70,532,360 

 

All the bills payable are of trading nature and will mature within six months from the issue date.

 

The bank acceptance bills were pledged by:

 

(i)the Company’s bank deposits (Note 2);

 

(ii)$4.4 million and $0.5 million of the Company’s bills receivable as of December 31, 2021 and September 30, 2022, respectively (Note 3).

 

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