Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 15,756,293 $ 691,933
Restricted cash 13,018,350 9,912,666
Accounts receivable, net 21,823,247 31,946,561
Inventories, net 72,839,826 67,611,136
Prepaid expenses 1,517,569 170,706
Prepaid expenses - related party   2,015,357
Other receivables 606,298 1,901,094
Total Current Assets 125,561,583 114,249,453
OTHER ASSETS:    
Cost method investment 3,238,042 3,218,440
Equity method investment 29,107,193 29,689,813
Prepayment for long-term assets 98,454,667 66,083,041
Right-of-use asset 559,296 64,220
Property, plant and equipment, net 306,123,374 250,155,011
Total Other Assets 437,482,572 349,210,525
Total Assets 563,044,155 463,459,978
CURRENT LIABILITIES:    
Accounts payable 38,929,872 18,792,983
Accounts payable - related parties 10,427,554 9,966,708
Short-term bank loans 55,509,298 52,414,596
Long-term bank loans - current portion 70,676,635 39,987,577
Accrued liabilities and other payables 20,914,632 12,151,633
Lease liability- current 398,909 32,349
Due to related parties 30,973,032 18,354
Total Current Liabilities 227,829,932 133,364,200
OTHER LIABILITIES:    
Lease liability 128,036  
Long-term bank loans - non-current portion 250,126,251 245,116,088
Total Liabilities 478,084,219 378,480,288
COMMITMENTS AND CONTINGENCIES
Equity attributable to ordinary shareholders of the Company:    
Preferred shares ($0.001 par value; 5,000,000 shares and 0 shares authorized; no shares issued and outstanding at September 30, 2021 and December 31, 2020)
Ordinary shares ($0.001 par value; 125,000,000 shares authorized; 85,940,965 and 79,302,428 shares issued and outstanding at September 30, 2021 and December 31, 2020) 85,941 79,302
Additional paid-in capital 88,938,870 82,045,993
(Deficit) (28,050,396) (18,594,755)
Statutory reserve 15,751,712 15,751,712
Accumulated other comprehensive (loss) (6,749,605) (9,568,873)
Total equity attributable to ordinary shareholders of the Company 69,976,522 69,713,379
Non-controlling interest 14,983,414 15,266,311
Total Shareholders’ Equity 84,959,936 84,979,690
Total Liabilities and Shareholders’ Equity $ 563,044,155 $ 463,459,978