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Trade and Bills Payable

12 Months Ended

Dec. 31, 2023

Trade and Bills Payable [Abstract]

Trade and Bills Payable

15. Trade and Bills Payable

Trade and bills payable as of December 31, 2022 and 2023 consisted of the followings:

		December 31,				December 31,
		2022				2023
Trade payable		$	32,516,445			$	26,764,807
Bills payable
– Bank acceptance bills			34,974,990				55,664,768
		$	67,491,435			$	82,429,575

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) $3.4 million and $0.3 million of the Company’s bills receivable as of December 31, 2022 and 2023, respectively (Note 4).

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

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- Definition

The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.

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