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Trade and Bills Payable | 3 Months Ended
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Mar. 31, 2024
Trade and Bills Payable [Abstract] |
Trade and Bills Payable |
| 15. | Trade and Bills Payable
Trade and bills payable as of December 31, 2023 and March 31, 2024 consisted of the followings:
|  | December 31, |  |  | March 31, |
|  | 2023 |  |  | 2024 |
Trade payable |  | $ | 26,764,807 |  |  | $ | 32,035,704 |
Bills payable |  |  |  |  |  |  |  |
– Bank acceptance bills |  |  | 55,664,768 |  |  |  | 45,600,129 |
– Letter of credit |  |  | - |  |  |  | 1,384,984 |
|  | $ | 82,429,575 |  |  | $ | 79,020,817 |
All the bills payable are of trading nature and will mature within one year from the issue date. The bank acceptance bills and letter of credit were pledged by:
| (i) | the Company’s pledged deposits (note 2) and short-term deposits (note 3);
| (ii) | $0.3 million and $1.5 million of the Company’s bills receivable as of December 31, 2023 and March 31, 2024, 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 720 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483384/720-30-45-1 + Details
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