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Loans (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of bank borrowings

		December 31,				September 30,
		2021				2022
Short-term bank borrowings		$	8,811,820			$	17,573,866

Schedule of facilities were also secured by the company’s assets

		December 31,				September 30,
		2021				2022
Pledged deposits (note 2)		$	18,996,749			$	37,591,281
Bills receivable (note 3)			4,446,553				562,121
Prepaid land use rights (note 9)			6,268,473				5,476,575
Buildings			8,565,837				5,442,571
		$	38,277,612			$	49,072,548

Schedule of other short-term loans

				December 31,				September 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				132,601
– Ms. Xiangyu Pei		(c)			-				1,405,304
– Shareholders		(d)			94,971				84,817
– Mr. Junnan Ye (note 11)					3,933,848				-
					4,282,119				1,722,722
Advances from unrelated third party
– Mr. Wenwu Yu		(e)			17,282				15,434
– Mr. Longqian Peng		(e)			301,044				268,858
– Ms. Xia Liu		(e)			-				702,652
– Ms. Xiaojuan Liu		(e)			-				702,652
– Suzhou Zhengyuanwei Needle Ce Co., Ltd		(f)			78,677				70,265
					397,003				1,759,861
				$	4,679,122			$	3,482,583

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of the carrying amount and classification of assets and liabilities recognized in the transferor's statement of financial position at the end of each period presented.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 50
-Paragraph 1A
-Subparagraph (b)(1)
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Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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