v2.4.0.6

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Statutory Reserves | Development Fund | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Total
--- | --- | --- | --- | --- | --- | --- | ---
Balance at Dec. 31, 2008 | $ 19,652 | $ 9,329,371 | $ 1,085,403 | $ 542,701 | $ 2,345,698 | $ 1,954,768 | $ 15,277,593
Balance (in Shares) at Dec. 31, 2008 | 19,652,226 |  |  |  |  |  |
Sale of common stock | 12,811 | 93,565,189 |  |  |  |  | 93,578,000
Sale of common stock (in Shares) | 12,810,890 |  |  |  |  |  |
Offering costs |  | (12,407,007) |  |  |  |  | (12,407,007)
Exercise of warrants | 169 | 290,721 |  |  |  |  | 290,890
Exercise of warrants (in Shares) | 168,632 |  |  |  |  |  |
Stock-based compensation |  | 333,387 |  |  |  |  | 333,387
Net income |  |  |  |  |  | 12,369,062 | 12,369,062
Transfer to statutory reserve and development fund |  |  | 1,286,315 | 643,158 |  | (1,929,473) |
Foreign currency translation gain (loss) |  |  |  |  | (10,482) |  | (10,482)
Balance at Dec. 31, 2009 | 32,632 | 91,111,661 | 2,371,718 | 1,185,859 | 2,335,216 | 12,394,357 | 109,431,443
Balance (in Shares) at Dec. 31, 2009 | 32,631,748 |  |  |  |  |  |
Offering costs |  | (320,000) |  |  |  |  | (320,000)
Purchase of treasury stock | (798) | (6,945,152) |  |  |  |  | (6,945,950)
Purchase of treasury stock (in Shares) | (798,300) |  |  |  |  |  |
Exercise of warrants | 1,759 | 6,962,751 |  |  |  |  | 6,964,510
Exercise of warrants (in Shares) | 1,759,114 |  |  |  |  |  |
Stock-based compensation |  | 275,698 |  |  |  |  | 275,698
Net income |  |  |  |  |  | 30,349,037 | 30,349,037
Transfer to statutory reserve and development fund |  |  | 3,755,921 | 1,877,960 |  | (5,633,881) |
Foreign currency translation gain (loss) |  |  |  |  | 3,980,259 |  | 3,980,259
Balance at Dec. 31, 2010 | 33,593 | 91,084,958 | 6,127,639 | 3,063,819 | 6,315,475 | 37,109,513 | 143,734,997
Balance (in Shares) at Dec. 31, 2010 | 33,592,562 |  |  |  |  |  | 33,592,562
Stock-based compensation |  | 102,626 |  |  |  |  | 102,626
Dividend declared |  |  |  |  |  | (6,718,512) | (6,718,512)
Net income |  |  |  |  |  | 39,805,629 | 39,805,629
Transfer to statutory reserve and development fund |  |  | 3,029,967 | 1,514,984 |  | (4,544,951) |
Foreign currency translation gain (loss) |  |  |  |  | 8,454,482 |  | 8,454,482
Balance at Dec. 31, 2011 | $ 33,593 | $ 91,187,584 | $ 9,157,606 | $ 4,578,803 | $ 14,769,957 | $ 65,651,679 | $ 185,379,222
Balance (in Shares) at Dec. 31, 2011 | 33,592,562 |  |  |  |  |  | 33,592,562

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