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SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2014
SUMMARY OF PRINCIPAL ACCOUNTING POLICIES [Abstract]  
Schedule of Accounts Receivable

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

 

    December 31,  
Accounts
receivable		  
2013		    
2014		  
Customer A   $ 3,673,455     $ *  
Customer B   $ 1,225,831     $ *  
Customer C   $ 1,507,576     $ 2,213,393  
Customer D $ * $ 1,578,947
Customer E $ * $ 1,330,145
Customer F $ * $ 1,071,415

 

 
*  
Represents less than 10%
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 30 years
Machinery and equipment 15 years
Furniture, fixtures and equipment 3-5 years
Motor vehicles 6 years
Schedule of Share-Based Compensation Expenses

 

  Year ended December 31,  
  2012     2013     2014  
Selling, general and administrative expenses   $ 2,018,817     $ 1,743,768     $ 1,544,078  
Research and development expenses     175,242       60,987       12,310  
Cost of sales     55,775       76,646       236,431  
Total   $ 2,249,834     $ 1,881,401     $ 1,792,819