v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2011
Dec. 31, 2010
CURRENT ASSETS    
Cash & equivalents $ 13,961,434 $ 33,956,591
Restricted cash 127,235 1,347,385
Accounts receivable 20,553,235 52,686,494
Deposits 1,153,019  
Advances to suppliers 2,920,746 3,018,531
Other receivables 287,824 125,580
VAT receivable 8,562,076 2,839,718
Prepaid expense 952,902 159,583
Inventories 61,017,231 23,015,850
Total current assets 109,535,702 117,149,732
NON-CURRENT ASSETS    
Advance for equipment purchase 844,964  
Deposit for land use right 847,646 4,619,405
Property and equipment, net 36,137,609 20,453,404
Construction in progress 21,141,715 8,913,181
Intangible assets, net 35,895,528 37,502,010
Other assets   4,570
Total noncurrent assets 94,867,462 71,492,570
TOTAL ASSETS 204,403,164 188,642,302
CURRENT LIABILITIES    
Accounts payable 7,977,167 26,247,453
Advance from customers 1,056,442 1,759,792
Income tax payable 4,864,267 5,536,646
Other payables and accrued expenses 2,753,617 3,001,716
Dividend payable 1,679,628  
Notes payable 692,821 8,361,698
Total current liabilities 19,023,942 44,907,305
COMMITMENTS AND CONTINGENCIES 0 0
STOCKHOLDERS' EQUITY    
Common Stock, $0.001 par value; 75,000,000 shares authorized; 33,592,562 shares issued and outstanding as of December 31, 2011 and 2010, respectively 33,593 33,593
Paid-in capital 91,187,584 91,084,958
Statutory reserve 9,157,606 6,127,639
Development fund 4,578,803 3,063,819
Accumulated other comprehensive income 14,769,957 6,315,475
Retained earnings 65,651,679 37,109,513
Total stockholders' equity 185,379,222 143,734,997
TOTAL LIABILITIES AND EQUITY $ 204,403,164 $ 188,642,302