SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

SUMMARY OF PRINCIPAL ACCOUNTING POLICIES [Abstract]

Schedule of Property, Plant and Equipment, Depreciation, Estimated Lives

Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation is recognized on a straight-line basis over the following estimated useful lives:

Buildings and plant	20 years
Machinery and equipment	10 years
Furniture, fixtures and equipment	3-5 years
Motor vehicles	6 years

Schedule of Accounts Receivable

The following customers accounted for 10% or more of accounts receivable:

	December 31,
Accounts receivable	2012		2013
Customer A	$	12,529,889	$	*
Customer D	$	3,568,910	$	3,673,455
Customer C	$	*	$	1,225,831
Customer K	$	-	$	1,507,576

Represents less than 10%

Schedule of Share-Based Compensation Expenses

For the years ended December 31, 2011, 2012 and 2013, the Group recognized share-based compensation expense of $2,206,025, $2,249,834 and $1,881,401 respectively, which was classified as follows:

	Year ended December 31,
	2011		2012		2013
Selling, general and administrative expenses	$	2,068,115	$	2,018,817	$	1,743,768
Research and development expenses		75,508		175,242		60,987
Cost of sales		62,402		55,775		76,646
Total	$	2,206,025	$	2,249,834	$	1,881,401