v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2012
Dec. 31, 2011
CURRENT ASSETS    
Cash & equivalents $ 15,337,914 $ 13,961,434
Restricted cash 534,645 127,235
Accounts receivable 6,387,898 20,553,235
Deposits 88,723 1,153,019
Advances to suppliers 620,731 2,920,746
Other receivables 46,508 287,824
VAT receivable 9,227,463 8,562,076
Prepaid expense 952,902 952,902
Inventories, net 79,381,120 61,017,231
Total current assets 112,577,904 109,535,702
NON-CURRENT ASSETS    
Advance for equipment purchase 101,143 844,964
Deposit for land use right 848,534 847,646
Property and equipment, net 35,329,674 36,137,609
Construction in progress 21,171,672 21,141,715
Intangible assets, net 35,748,608 35,895,528
Other receivable 317,710  
Total noncurrent assets 93,517,341 94,867,462
TOTAL ASSETS 206,095,245 204,403,164
CURRENT LIABILITIES    
Accounts payable 4,315,772 7,977,167
Advance from customers 844,530 1,056,442
Income taxes payable 5,096,160 4,864,267
Other payables and accrued expenses 2,422,601 2,753,617
Dividend payable   1,679,628
Notes payable   692,821
Total current liabilities 12,679,063 19,023,942
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 March 31, 2012 and December 31, 2011, respectively 33,593 33,593
Paid-in capital 91,187,584 91,187,584
Statutory reserve 9,985,566 9,157,606
Development fund 4,992,783 4,578,803
Accumulated other comprehensive income 14,983,829 14,769,957
Retained earnings 72,235,827 65,651,679
Total stockholders' equity 193,419,182 185,379,222
TOTAL LIABILITIES AND EQUITY $ 206,098,245 $ 204,403,164