|
Consolidated Statements of Income and Comprehensive Income (USD $)
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| REVENUE |
|
|
|
| Revenue |
$ 233,427,011 |
$ 112,295,158 |
$ 53,673,848 |
| Revenue - related party |
|
10,372,611 |
13,787,620 |
| Total Revenue |
233,427,011 |
122,667,769 |
67,461,468 |
| COST OF REVENUE |
|
|
|
| Cost of revenue |
155,840,823 |
68,403,097 |
34,040,301 |
| Cost of revenue - related party |
|
6,580,193 |
7,530,171 |
| Total Cost of Revenue |
155,840,823 |
74,983,290 |
41,570,472 |
| GROSS PROFIT |
77,586,188 |
47,684,479 |
25,890,996 |
| OPERATING EXPENSES: |
|
|
|
| Selling |
2,673,213 |
1,618,278 |
647,850 |
| General and administrative |
4,537,351 |
3,191,637 |
463,501 |
| Total Operating Expenses |
7,210,564 |
4,809,915 |
1,111,351 |
| INCOME FROM OPERATIONS |
70,375,624 |
42,874,564 |
24,779,645 |
| OTHER INCOME (EXPENSE): |
|
|
|
| Interest income |
16,772 |
8,250 |
3,276 |
| Interest expense |
(4,815,670) |
(3,301,696) |
(2,876,253) |
| Foreign currency transaction (loss) gain |
(258,248) |
144,740 |
(5,113) |
| Grant income |
20,094,039 |
7,338,273 |
2,363,575 |
| Investment income |
348,523 |
69,519 |
15,138 |
| Other (expense) income |
(335) |
2,144 |
|
| Total Other Income (Expense), net |
15,385,081 |
4,261,230 |
(499,377) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |
85,760,705 |
47,135,794 |
24,280,268 |
| INCOME TAXES |
|
|
|
| NET INCOME FROM CONTINUING OPERATIONS |
85,760,705 |
47,135,794 |
24,280,268 |
| NET INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAX |
|
51,910,662 |
84,494,428 |
| NET INCOME |
85,760,705 |
99,046,456 |
108,774,696 |
| COMPREHENSIVE INCOME: |
|
|
|
| Net income |
85,760,705 |
99,046,456 |
108,774,696 |
| OTHER COMPREHENSIVE INCOME |
|
|
|
| Foreign currency translation (loss) gain |
(552,656) |
8,195,045 |
4,113,599 |
| Unrealized change in fair value of available-for-sale investment |
|
|
(717) |
| TOTAL COMPREHENSIVE INCOME |
$ 85,208,049 |
$ 107,241,501 |
$ 112,887,578 |
| BASIC AND DILUTED EARNINGS PER SHARE |
|
|
|
| From continuing operations |
$ 1.08 |
$ 0.60 |
$ 0.32 |
| From discontinued operations |
$ 0.00 |
$ 0.66 |
$ 1.09 |
| Net income |
$ 1.08 |
$ 1.26 |
$ 1.41 |
| WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING: |
|
|
|
| Basic and diluted |
79,055,053 |
78,772,743 |
77,215,000 |