Lines of credit

12 Months Ended

Dec. 31, 2018

Line of Credit Facility [Abstract]

Line Of Credit Facilities [Text Block]

19. Lines of credit

The Company entered into various credit contracts and revolving lines of credit, which were used for short-term loans and bank acceptance bills. The following tables summarize the unused lines of credit as of December 31, 2018 and 2017:

	December 31, 2018
Lender	Starting date	Maturity date	Maximum Amount Available of Line of Credit		Unused line of credit
			$		$
Bank of China (1)	10/30/2018	10/30/2021		12,777,080		389,445
Bank of China (1)	9/3/2018	9/3/2019		29,691,501		4,643,021
Industrial and Commercial Bank of China (1)	8/28/2018	8/28/2019		7,301,188		744,721
China Everbright Bank (2)	1/24/2018	1/23/2019		7,301,188		-
Industrial Bank CO., LTD. (1)	3/15/2018	3/15/2019		5,840,951		364,446
Guangdong Huaxing Bank (1)	9/13/2018	8/7/2019		23,363,804		10,829,780
Ping An Bank Co., Ltd (1)	5/15/2018	5/14/2019		10,221,664		6,851,536
Jiang Su Bank Co., Ltd. (1)	9/25/2018	9/24/2019		6,084,324		3,894
Total				102,581,700		23,826,843

	December 31, 2017
Lender	Starting date	Maturity date	Maximum Amount Available of Line of Credit		Unused line of credit
			$		$
Ping An Bank Co., Ltd. (1)	3/17/2017	3/16/2018		10,756,158		3,130,042
Industrial and Commercial Bank of China (1)	8/24/2017	8/31/2018		7,682,970		6,146,376
Jiang Su Bank Co., Ltd. (1)	4/20/2017	4/19/2018		3,841,485		113,708
Jiang Su Bank Co., Ltd. (2)	7/3/2017	7/2/2018		2,560,990		7,171
Industrial Bank Co., Ltd. (1)	9/20/2017	9/20/2018		3,073,188		517,832
Guangdong Huaxing Bank (1)	10/26/2017	9/27/2018		9,219,564		3,543,386
Hua Xia Bank Co., Ltd. (2)	10/23/2017	10/23/2018		7,682,970		4,745,002
China Minsheng Banking Corp., Ltd. (1)	11/14/2017	11/14/2018		5,121,980		1,280,495
Bank of China (1)	7/11/2016	7/11/2019		13,445,197		8,279,168
Bank of China (1)	7/12/2016	7/12/2019		12,292,752		3,366,677
Bank of China (1)	7/25/2016	7/25/2019		4,097,584		143,928
Total				79,774,838		31,273,785

(1)	The lines of credits are guaranteed by the Company’s Chief Executive Officer, Mr. Dang Yu Pan.
(2)	The lines of credits are guaranteed by the Company’s Chief Executive Officer, Mr. Dang Yu Pan, and his wife.

Certain of the agreements governing the Company’s loans include standard affirmative and negative as well as financial covenants, including restrictions on granting additional pledges on the Company’s property and incurring additional debt and obligations to provide advance notice of major corporate actions, and other covenants including: that the borrower may not serve as a guarantor for more than double its net assets; that the borrower is restricted in certain circumstances from using the loans in connection with related party transactions or other transactions with affiliates; that the borrower must provide monthly reports to certain lenders describing the actual use of loans; that the borrower may need to obtain approval to engage in major corporate transactions. The covenants in these loan agreements could prohibit the Company from incurring any additional debt without consent from its lenders. The Company believes it would be able to obtain consents from the lenders in the event it needed to do so. The agreements governing the Company’s loans may also include covenants that, in certain circumstances, may require the Company’s PRC operating subsidiaries to give notice to, or obtain consent from, certain of their lenders prior to making a distribution of net profit, as well as covenants restricting the ability of the Company’s PRC operating subsidiaries from extending loans.