Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.3.0.814
Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash $ 21,092,310 $ 12,752,272
Accounts receivable, net of allowance for doubtful accounts 10,221,351 49,999,712
Inventories 5,442,615 12,123,405
Prepaid expenses 38,647,378 32,913
Prepaid expenses - related parties 14,522,315 7,319,975
Deferred expenses - related parties 46,083 1,029,114
Other receivables 79,374 $ 22,656,232
Other receivables - related parties 8,163,049
Total Current Assets 98,214,475 $ 105,913,623
OTHER ASSETS:    
Cost method investment 3,305,109 3,421,031
Equity method investment 54,733,971 15,964,812
Prepayment for long-term assets 14,649,387 13,750,102
Property, plant and equipment, net 95,061,020 109,980,617
Total Other Assets 167,749,487 143,116,562
Total Assets 265,963,962 249,030,185
CURRENT LIABILITIES:    
Accounts payable 1,111,274 1,181,977
Accounts payable - related parties $ 5,057,984 2,601,314
Advances from customers 164,724
Short-term bank loans $ 28,571,024 30,353,890
Long-term bank loans - current portion 12,150,209 18,868,616
Accrued liabilities and other payables 9,263,009 5,602,307
Due to related parties 23,354 2,373,352
Total Current Liabilities 56,176,854 61,146,180
OTHER LIABILITIES:    
Long-term bank loans - non-current portion 29,572,854 38,625,071
Total Liabilities 85,749,708 99,771,251
Equity attributable to owners of the company:    
Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 79,055,053 shares issued and outstanding at September 30, 2015 and December 31, 2014) 79,055 79,055
Additional paid-in capital 111,011,856 117,525,377
Retained earnings 47,171,563 21,315,710
Statutory reserve 6,412,892 6,412,892
Accumulated other comprehensive (loss) income (1,768,587) 3,925,900
Total equity attributable to owners of the company 162,906,779 $ 149,258,934
Non-controlling interest 17,307,475
Total Shareholders' Equity 180,214,254 $ 149,258,934
Total Liabilities and Shareholders' Equity $ 265,963,962 $ 249,030,185