XML 89 R62.htm IDEA: XBRL DOCUMENT v3.21.1
Loans Payable (Details) - USD ($)
1 Months Ended 12 Months Ended
Dec. 11, 2020
Dec. 12, 2019
Nov. 06, 2018
Jul. 15, 2013
Dec. 20, 2019
Apr. 17, 2019
Jun. 21, 2018
Apr. 16, 2014
Dec. 31, 2020
Dec. 31, 2019
Loans Payable (Details) [Line Items]                    
Short-term bank loans                 $ 6,435,348 $ 6,163,814
Loan repayment due date Dec. 07, 2021                  
Unsecured bank loans                
Average short-term borrowing rates                 4.79% 4.93%
Loans from credit union                 $ 9,594,017 $ 8,973,367
Long-term debt, interest rate per month           0.60%        
Current portion of total outstanding loan                 4,996,245 1,605,459
Non-current liabilities                 3,494,307 3,411,600
Loan extension period           2 years 5 years      
Non-current liabilities                  
Total interest expenses                 695,287 831,732
ICBC Loan 1 [Member]                    
Loans Payable (Details) [Line Items]                    
Short-term bank loans                   6,163,814
Short-term bank loans, bore interest rate         4.785%          
Date of loan due and repaid         Dec. 14, 2020          
ICBC Loan 2 [Member]                    
Loans Payable (Details) [Line Items]                    
Short-term bank loans                 6,435,348  
Short-term bank loans, bore interest rate 4.785%                  
Rural Credit Union of Xushui District [Member]                    
Loans Payable (Details) [Line Items]                    
Installment repayment description     On November 6, 2018, the loan was renewed for additional 5 years and will be due and payable in various installments from December 21, 2018 to November 5, 2023.         On April 16, 2014, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years, which was originally due in various installments from June 21, 2014 to November 18, 2018.    
Current portion of total outstanding loan                 2,452,145 1,146,756
Total outstanding loan balance                 2,452,145 2,293,512
Non-current liabilities                   1,146,756
Rural Credit Union of Xushui District [Member] | Long-term Loans [Member]                    
Loans Payable (Details) [Line Items]                    
Installment repayment description       On July 15, 2013, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years, which was originally due and payable in various installments from December 21, 2013 to July 26, 2018.            
Current portion of total outstanding loan                 1,318,028 1,232,763
Total outstanding loan balance                 214,563 143,345
Non-current liabilities                 $ 1,103,465 1,089,418
Rural Credit Union of Xushui District [Member] | New term loan agreement [Member]                    
Loans Payable (Details) [Line Items]                    
Long-term debt, interest rate per month                 0.64%  
Total outstanding loan balance                 $ 3,831,476 3,583,613
Security loan agreement by manufacturing equipment                 2,349,796 3,935,270
Rural Credit Union of Xushui District One [Member]                    
Loans Payable (Details) [Line Items]                    
Long-term debt, interest rate per month   7.56%           0.64%    
Current portion of total outstanding loan                 1,992,368 143,345
Total outstanding loan balance                 1,992,368 1,863,479
Loan extension period   2 years                
Non-current liabilities                 1,720,134
Rural Credit Union of Xushui District One [Member] | New term loan agreement [Member]                    
Loans Payable (Details) [Line Items]                    
Total outstanding loan balance                 $ 337,169 $ 172,013