|
Consolidated Balance Sheets (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
| CURRENT ASSETS: |
|
|
| Cash |
$ 12,752,272 |
$ 8,156,599 |
| Accounts receivable, net of allowance for doubtful accounts |
49,999,712 |
9,133,130 |
| Inventories |
12,123,405 |
9,095,736 |
| Prepaid expenses |
32,913 |
4,309,574 |
| Prepaid expenses - related parties |
7,319,975 |
|
| Deferred expenses - related parties |
1,029,114 |
|
| Other receivables |
22,656,232 |
11,665 |
| Total Current Assets |
105,913,623 |
30,706,704 |
| OTHER ASSETS: |
|
|
| Long-term investment |
19,385,843 |
3,468,953 |
| Prepayment for long-term assets |
13,750,102 |
33,985,148 |
| Property, plant and equipment, net |
109,980,617 |
101,970,707 |
| Total Other Assets |
143,116,562 |
139,424,808 |
| Total Assets |
249,030,185 |
170,131,512 |
| CURRENT LIABILITIES: |
|
|
| Accounts payable |
1,181,977 |
2,184,964 |
| Accounts payable - related parties |
2,601,314 |
13,807,605 |
| Advances from customers |
164,724 |
297,034 |
| Short-term bank loans |
30,353,890 |
9,085,353 |
| Long-term bank loans - current portion |
18,868,616 |
20,252,077 |
| Accrued liabilities and other payables |
5,602,307 |
4,643,272 |
| Due to related parties |
2,373,352 |
|
| Deferred grant income |
|
520,045 |
| Total Current Liabilities |
61,146,180 |
50,790,350 |
| OTHER LIABILITIES: |
|
|
| Long-term bank loans - non-current portion |
38,625,071 |
54,499,727 |
| Total Liabilities |
99,771,251 |
105,290,077 |
| SHAREHOLDERS' EQUITY: |
|
|
| Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 79,055,053 shares issued and outstanding at December 31, 2014 and 2013) |
79,055 |
79,055 |
| Additional paid-in capital |
117,525,377 |
117,525,377 |
| Retained earnings (accumulated deficit) |
21,315,710 |
(63,654,445) |
| Statutory reserve |
6,412,892 |
6,412,892 |
| Accumulated other comprehensive income |
3,925,900 |
4,478,556 |
| Total Shareholders' Equity |
149,258,934 |
64,841,435 |
| Total Liabilities and Shareholders' Equity |
$ 249,030,185 |
$ 170,131,512 |