XML 36 R20.htm IDEA: XBRL DOCUMENT v3.23.1
Trade and Bills Payable
 12 Months Ended
Dec. 31, 2022
Trade and Bills Payable [Abstract]  
Trade and Bills Payable

14. Trade and Bills Payable

 

Trade and bills payable as of December 31, 2021 and 2022 consisted of the followings:

 

   December 31,   December 31, 
   2021   2022 
Trade payable  $40,352,638   $32,516,445 
Bills payable          
– Bank acceptance bills (Note 15)   25,023,574    34,974,990 
           
   $65,376,212   $67,491,435 

 

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 3);

 

  (ii) $4.4 million and $3.4 million of the Company’s bills receivable as of December 31, 2021 and 2022, respectively (Note 4).

 

  (iii) the Company’s prepaid land use rights (Note 10)