CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Statutory Reserves [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2010 [1] $ 5,000,001 $ 2,358 $ 5,153,278 $ 0 $ (155,635) $ 0
Balance (in shares) at Dec. 31, 2010 [1]   6,250,000        
Increase of 122,875 shares subject to possible conversion at December 31, 2012 0 (125) (1,234,770) 0 1,234,895 0
Redemption of shares 0 (393) 393 0 0 0
Redemption of shares (in shares)   (4,409,947)        
Business combination between China Dredging Group Co., Ltd. and Merchant Supreme Co., Ltd. 290,488,517 77,215 137,462,197 16,863,090 117,970,926 18,115,089
Business combination between China Dredging Group Co., Ltd. and Merchant Supreme Co., Ltd. (in shares)   77,215,000        
Net income [1],[2] 100,697,586          
Balance at Dec. 31, 2011 295,488,518 79,055 141,381,098 16,863,090 119,050,186 18,115,089
Balance (in shares) at Dec. 31, 2011   79,055,053        
Net income 105,792,014 [2] 0 0 0 100,697,586 0
Appropriation to statutory reserves 0 0 0 2,523,552 (2,523,552) 0
Foreign currency translation gain 4,112,882 0 0 0 0 4,112,882
Balance at Dec. 31, 2012 400,298,986 79,055 141,381,098 19,386,642 217,224,220 22,227,971
Balance (in shares) at Dec. 31, 2012   79,055,053        
Net income 97,399,420 [2] 0 0 0 97,399,420 0
Appropriation to statutory reserves 0 0 0 3,024,131 (3,024,131) 0
Foreign currency translation gain 8,178,119 0 0 0 0 8,178,119
Acquisition of fishing vessels from related party (388,330,794) 0 (276,072,797) 0 (112,257,997) 0
Disposal of China Dredging Group Co., Ltd. 134,691,699 0 134,691,699 0 0 0
Balance at Dec. 31, 2013 $ 252,237,430 $ 79,055 $ 0 $ 22,410,773 $ 199,341,512 $ 30,406,090
Balance (in shares) at Dec. 31, 2013   79,055,053        
[1] Represents the consolidation retrospectively restated as if Pingtan Marine Enterprise Ltd. (formerly known as China Growth Equity Investment Ltd.) completed its merger with China Dredging Group Co., Ltd. and the share purchase of Merchant Supreme Co., Ltd. on January 1, 2011 rather than on February 25, 2013.
[2] Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.