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PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2016

PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

8. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consist of the following:

		December 31,
		2015			2016
Cost
Buildings and plant		$	313,290,516		$	286,302,082
Machinery and equipment			389,373,554			371,703,665
Furniture, fixtures and equipment			22,418,768			21,355,517
Motor vehicles			293,331			334,025
Less: Accumulated depreciation			(188,680,279)			(206,725,215)
Property, plant and equipment, net		$	536,695,889		$	472,970,074
Construction in process			7,630,236			84,457,810
Total		$	544,326,125		$	557,427,884

Depreciation expense was $28,007,943, $31,361,026 and $33,822,082 for the years ended December 31, 2014, 2015 and 2016, respectively.

$84.5 million of construction in process as of December 31, 2016 was mostly related to the Phase 3A expansion project, which is expected to increase the capacity from 12,150 MT to 18,000 MT. The Group had already completed the construction and installation of Phase 3A at the end of 2016 and commenced initial production in the first quarter of 2017 as planned.

The Company recognized impairments for long-lived assets of $nil, $1,622,588 and $198,689 during the years ended December 31, 2014, 2015 and 2016, respectively.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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- References

No definition available.

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