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v3.23.2

Trade and Bills Payable | 6 Months Ended
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Jun. 30, 2023
Trade and Bills Payable [Abstract] |
Trade and Bills Payable | 13. Trade and Bills Payable Trade and bills payable as of December 31, 2022 and June 30, 2023 consisted of the followings:
|  | December 31, |  |  | June 30, |
|  | 2022 |  |  | 2023 |
Trade payable |  | $ | 32,516,445 |  |  | $ | 28,561,824 |
Bills payable |  |  |  |  |  |  |  |
– Bank acceptance bills |  |  | 34,974,990 |  |  |  | 46,801,436 |
– Letter of credit |  |  | - |  |  |  | 206,791 |
|  | $ | 67,491,435 |  |  | $ | 75,570,051 |
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) | $3.4 million and $5.3 million of the Company’s bills receivable as of December 31, 2022 and June 30, 2023, respectively (Note 3).
| (iii) | the Company’s prepaid land use rights (note 9)

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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