XML 71 R40.htm IDEA: XBRL DOCUMENT
v2.4.0.8

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
INCOME TAXES [Abstract] |
Schedule of Income Tax Expenses | Income tax expenses comprise:
|  | Year ended December 31, |
|  | 2011 |  |  | 2012 |  |  | 2013 |
Current Tax Expenses (Benefit) |  | $ | 20,647,400 |  |  | $ | (1,894,736 | ) |  | $ | (162,621 | )
Deferred Tax Expenses (Benefit) |  |  | (19,933,128 | ) |  |  | 12,148,323 |  |  |  | 1,434,386 |
Total |  | $ | 714,272 |  |  | $ | 10,253,587 |  |  | $ | 1,271,765 |
Schedule of Deferred Tax Assets and Liabilities | The principal components of deferred income tax assets and liabilities are as follows:
|  | December 31, |
|  | 2012 |  |  | 2013 |
Net operating loss carried forward |  | $ | 13,984,909 |  |  | $ | 29,784,578 |
Depreciation of property, plant and equipment |  |  | 554,227 |  |  |  | 493,800 |
Inventory write-down |  |  | 3,687,349 |  |  |  | 1,531,750 |
Bad debt provision |  |  | 349,466 |  |  |  | 1,518,953 |
Government grants related to assets |  |  | 320,960 |  |  |  | 423,938 |
Long-lived asset impairment |  |  | 19,810,832 |  |  |  | 22,590,196 |
Others |  |  | 390,491 |  |  |  | 290,652 |
Sub-total |  |  | 39,098,234 |  |  |  | 56,633,867 |
Valuation Allowance |  |  | (37,682,733 | ) |  |  | (56,633,867 | )
Total |  | $ | 1,415,501 |  |  | $ | - |
Deferred tax assets are analyzed as: |  |  |  |  |  |  |  |
Current |  | $ | 358,435 |  |  | $ | - |
Non-current |  |  | 1,057,066 |  |  |  | - |
Schedule of Effective Income Tax Rate Reconciliation | The effective income tax rate of the Group is different from the expected PRC statutory rate as a result of the following items:
|  | Year ended December 31, |
|  | 2011 |  |  | 2012 |  |  | 2013 |
PRC Enterprise Income Tax |  |  | 25 | % |  |  | 25 | % |  |  | 25 | %
Preferential income tax rate of a subsidiary |  |  | (12 | )% |  |  | (9 | )% |  |  | (2 | )%
Effect of different reversal rate |  |  | (14 | )% |  |  | 8 | % |  |  | 3 | %
Additional tax deductions |  |  | - | % |  |  | - | % |  |  | (1 | )%
Non-deductible expenses |  |  | 1 | % |  |  | - | % |  |  | - | %
Different tax rate in other jurisdictions |  |  | 2 | % |  |  | (1 | )% |  |  | - | %
Changes in valuation allowance |  |  | - | % |  |  | (35 | )% |  |  | (26 | )%
Prior year adjustment |  |  | - | % |  |  | 2 | % |  |  | - | %
Effective tax rate |  |  | 2 | % |  |  | (10 | )% |  |  | (1 | )%
Schedule of Effects of Tax Holiday | The aggregate amount and per share effect of the tax holiday are as follows:
|  | Year ended December 31, |
|  | 2011 |  |  | 2012 |  |  | 2013 |
|  | $ |  |  | $ |  |  | $ |
The aggregate dollar effect (in thousands) |  |  | 4,388 |  |  |  | - |  |  |  | - |
Per share effect-basic |  |  | 0.02 |  |  |  | - |  |  |  | - |
Per share effect-diluted |  |  | 0.02 |  |  |  | - |  |  |  | - |

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 11.C) -URI http://asc.fasb.org/extlink&oid=34349781&loc=d3e330215-122817 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 25 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=29652012&loc=d3e28937-109314 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 11 -Section C + Details
Name: | us-gaap_SummaryOfIncomeTaxHolidayTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration