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Trade and Bills Payable | 12 Months Ended
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Dec. 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 2024 consisted of the followings:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2024 |
Trade payable |  | $ | 26,764,807 |  |  | $ | 26,317,312 |
Bills payable |  |  |  |  |  |  |  |
– Bank acceptance bills |  |  | 55,664,768 |  |  |  | 57,297,394 |
– Letter of credit |  |  | - |  |  |  | 1,109,680 |
|  | $ | 82,429,575 |  |  | $ | 84,724,386 |
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) | $0.3 million and $1.4 million of the Company’s bills receivable as of December 31, 2023 and 2024, respectively (Note 5).
| (iii) | the Company’s prepaid land use rights (Note 11)

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