Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

SHORT-TERM BANK BORROWINGS

v3.21.4
SHORT-TERM BANK BORROWINGS
12 Months Ended
Sep. 30, 2021
SHORT-TERM BANK BORROWINGS  
SHORT-TERM BANK BORROWINGS

NOTE 11 – SHORT-TERM BANK BORROWINGS

Short-term bank borrowings consisted of the following at September 30, 2021:

    

    

Amount -

    

Issuance

    

Expiration

    

 

Bank Name

Amount - RMB

 USD

Date

Date

Interest

Bank of China

 

5,650,000

 

876,866

 

2021-08-30

 

2022-08-26

 

5.27

%

Bank of China

4,250,000

659,590

2021-09-06

2022-09-01

5.27

%

China Merchants Bank

 

7,000,000

 

1,086,383

 

2021-05-25

 

2021-11-24

 

4.55

%

China Merchants Bank

5,000,000

775,988

2021-05-31

2021-11-24

4.55

%

China Merchants Bank

4,000,000

620,790

2021-06-09

2021-11-24

4.55

%

Industrial Bank

 

6,000,000

 

931,185

 

2021-02-01

 

2022-02-01

 

5.22

%

Industrial Bank

7,000,000

1,086,383

2021-02-02

2022-01-26

5.22

%

China Minsheng Bank

 

45,000,000

 

6,983,890

 

2021-03-24

 

2022-03-20

 

4.50

%

China Minsheng Bank

 

9,000,000

 

1,396,778

 

2021-03-26

 

2022-03-20

 

4.50

%

China Minsheng Bank

3,000,000

465,593

2021-03-31

2022-03-20

4.50

%

China Minsheng Bank

4,000,000

620,790

2021-05-18

2022-05-18

4.50

%

China Minsheng Bank

5,000,000

775,988

2021-06-17

2022-06-10

3.50

%

China Minsheng Bank

5,000,000

775,988

2021-08-12

2022-08-11

3.50

%

China Minsheng Bank

5,000,000

775,988

2021-06-21

2022-06-23

3.50

%

CZBANK

 

980,000

 

152,094

 

2020-12-16

 

2021-11-18

 

5.50

%

CZBANK

 

1,000,000

 

155,198

 

2021-07-15

 

2022-04-07

 

5.60

%

CZBANK

 

4,600,000

 

713,909

 

2020-12-14

 

2021-11-11

 

5.50

%

CZBANK

 

2,140,000

 

332,123

 

2020-11-25

 

2021-11-09

 

5.50

%

CZBANK

 

1,960,000

 

304,187

 

2020-11-17

 

2021-11-02

 

5.80

%

CZBANK

1,275,000

197,877

2020-11-18

2021-11-04

5.80

%

CZBANK

2,000,000

310,395

2020-12-16

2021-11-16

5.50

%

CZBANK

2,000,000

310,395

2021-04-13

2022-04-11

6.00

%

Bank of Communications

 

7,000,000

 

1,086,383

 

2021-07-15

 

2022-07-06

 

4.65

%

Total

 

137,855,000

 

21,394,761

 

  

 

  

 

  

Short-term bank borrowings consisted of the following at September 30, 2020:

    

    

Amount -

    

Issuance

    

Expiration

    

 

Bank Name

Amount - RMB

 USD

Date

Date

Interest

Agricultural Bank - Longwan Branch

 

1,300,000

 

191,469

 

7/1/2020

 

6/1/2021

 

5.10

%

Agricultural Bank - Longwan Branch

 

3,000,000

 

441,852

 

2/28/2020

 

2/1/2021

 

2.85

%

Agricultural Bank - Longwan Branch

 

5,750,000

 

846,883

 

7/9/2020

 

7/1/2021

 

5.10

%

Agricultural Bank - Longwan Branch

 

6,000,000

 

883,704

 

8/10/2020

 

8/1/2021

 

5.10

%

Agricultural Bank - Longwan Branch

 

6,190,000

 

911,688

 

11/4/2019

 

11/1/2020

 

5.66

%

Agricultural Bank - Longwan Branch

 

7,580,000

 

1,116,413

 

8/14/2020

 

8/13/2021

 

5.10

%

Agricultural Bank - Longwan Branch

 

8,000,000

 

1,178,273

 

11/13/2019

 

11/11/2020

 

5.66

%

Agricultural Bank - Longwan Branch

8,700,000

1,281,372

12/23/2019

12/1/2020

5.70

%

Bank of China

 

4,250,000

625,957

9/7/2020

9/2/2021

5.27

%

Bank of China

 

5,750,000

846,883

9/3/2020

8/31/2021

5.27

%

China Merchants Bank

 

16,500,000

2,430,187

12/13/2019

12/20/2020

4.55

%

Industrial Bank

 

1,000,000

 

147,284

 

6/2/2020

 

3/2/2021

 

5.50

%

Industrial Bank

 

1,900,000

 

279,840

 

12/26/2019

 

12/26/2020

 

5.22

%

Industrial Bank

 

3,000,000

 

441,852

 

11/1/2019

 

10/21/2020

 

6.00

%

Industrial Bank

5,000,000

736,420

10/30/2019

10/30/2020

6.00

%

Industrial Bank

5,000,000

736,420

10/31/2019

10/26/2020

6.00

%

China Minsheng Bank

 

2,800,000

 

412,395

 

6/11/2020

 

6/11/2021

 

5.80

%

China Minsheng Bank

3,000,000

441,852

6/12/2020

6/12/2021

5.80

%

CZBANK

 

550,000

 

81,006

 

4/9/2020

 

11/26/2020

 

6.00

%

CZBANK

 

1,105,000

 

162,749

 

4/13/2020

 

11/20/2020

 

6.00

%

CZBANK

 

1,580,000

 

232,709

 

4/16/2020

 

11/23/2020

 

6.00

%

CZBANK

 

2,140,000

 

315,188

 

4/10/2020

 

12/10/2020

 

6.00

%

CZBANK

2,970,000

437,434

4/10/2020

1/6/2021

6.00

%

CZBANK

 

4,610,000

 

678,980

 

4/17/2020

 

12/24/2020

 

6.00

%

CZBANK

1,980,000

291,622

4/13/2020

10/23/2020

6.00

%

Bank of Communications

 

3,300,000

 

486,037

 

2/13/2020

 

2/9/2021

 

6.15

%

Bank of Communications

 

5,000,000

 

736,425

 

2/11/2020

 

2/9/2021

 

6.15

%

Total

 

117,955,000

 

17,372,894

 

  

 

  

 

  

The Company’s short-term bank borrowings are pledged by its assets as listed below, and guaranteed by the Company’s major shareholders: HUANG Jian Cong, WANG Jian Di, WANG Guo Lin, WANG Min Jie, and WANG Yang Ming, and their immediate family members.

The carrying values of the Company’s pledged assets to secure short-term borrowings by the Company are as follows:

As of September 30, 

    

2021

    

2020

Accounts receivable

$

2,053,490

$

1,829,454

Buildings, net

 

4,508,834

 

4,409,238

Land use rights, net

 

419,721

 

411,067

Machinery, net

 

92,761

 

95,078

Inventory

 

2,793,556

 

2,651,113

Total

$

9,868,362

$

9,395,950