Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash $ 22,251,902 $ 820,396
Restricted cash 2,320,360 2,911,922
Accounts receivable, net of allowance for doubtful accounts 5,535,370 11,322,726
Inventories, net of reserve for inventories 3,000,785 8,811,111
Advances to suppliers 939,162 3,969,351
Prepaid expenses 8,145
Prepaid expenses - related parties 776,871 522,337
Other receivables 270,115 31,835,456
Other receivables - related parties 639,917
Total Current Assets 35,094,565 60,841,361
OTHER ASSETS:    
Cost method investment 3,164,128 3,027,245
Equity method investment 30,054,827 28,493,273
Prepayment for long-term assets 11,397,913 11,913,912
Property, plant and equipment, net 139,060,927 122,196,594
Total Other Assets 183,677,795 165,631,024
Total Assets 218,772,360 226,472,385
CURRENT LIABILITIES:    
Accounts payable 6,872,180 916,737
Accounts payable - related parties 4,750,145 2,560,760
Short-term bank loans 16,600,183 21,554,636
Long-term bank loans - current portion 12,083,955 17,298,544
Accrued liabilities and other payables 5,473,686 4,399,536
Accrued liabilities and other payables - related party 9,819,942 18,147,152
Due to related parties 3,040,602 43,354
Total Current Liabilities 58,640,693 64,920,719
OTHER LIABILITIES:    
Long-term bank loans - non-current portion 19,888,804 21,839,412
Total Liabilities 78,529,497 86,760,131
COMMITMENTS AND CONTINGENCIES
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, 2017 and December 31, 2016) 79,055 79,055
Additional paid-in capital 81,906,871 111,008,085
Retained earnings 39,897,052 17,438,215
Statutory reserve 9,391,827 9,391,827
Accumulated other comprehensive loss (8,438,399) (12,879,051)
Total equity attributable to owners of the company 122,836,406 125,038,131
Non-controlling interest 17,406,457 14,674,123
Total Shareholders' Equity 140,242,863 139,712,254
Total Liabilities and Shareholders' Equity $ 218,772,360 $ 226,472,385