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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 15,987,478 $ 14,490,011
Restricted cash 15,893,467 19,062,713
Accounts receivable, net of allowance for doubtful accounts of $1,087,465 and $10,163 as of December 31, 2015 and 2016, respectively 4,836,499 19,849,608
Note receivables 13,025,552 11,109,695
Prepaid expenses and other current assets 8,027,667 12,235,141
Advances to suppliers 1,722,783 1,028,287
Inventories 12,280,700 10,715,939
Amounts due from related parties 1,528,712 284,633
Total current assets 73,302,858 88,776,027
Property, plant and equipment, net 557,427,884 544,326,125
Prepaid land use rights, net 24,809,809 27,122,287
Deferred tax assets 585,944 626,965
Investment accounted for under the cost-method 581,581
TOTAL ASSETS 656,708,076 660,851,404
Current liabilities:    
Short-term bank borrowings, including current portion of long-term bank borrowings 105,980,320 123,936,995
Accounts payable 18,745,297 17,491,292
Note payables 25,732,489 20,152,962
Advances from customers 7,519,605 8,183,376
Payables for purchases of property, plant and equipment 51,322,901 49,674,887
Accrued expenses and other current liabilities 8,320,041 8,616,831
Amounts due to related parties 26,829,605 46,396,527
Income tax payable 5,300,163 940,732
Total current liabilities 249,750,421 275,393,602
Long-term bank borrowings 111,948,913 118,548,430
Deferred government subsidies 23,279,820 25,252,882
Total liabilities 384,979,154 419,194,914
Commitments and contingencies (Note 18)
Ordinary shares;    
$0.0001 per value 500,000,000 shares authorized as of December 31, 2015 and 2016; 279,214,103 and 279,214,103 shares issued as of December 31, 2015 and 2016, respectively and 260,836,578 and 262,956,278 shares outstanding as of December 31, 2015 and 2016, respectively 26,532 26,320
Additional paid in capital 240,111,533 236,358,070
Retained Earnings (accumulated deficit) 40,432,352 (3,061,404)
Accumulated other comprehensive income (loss) (8,721,820) 8,780,313
Treasury Stock, at cost (4,643,150 and 4,643,150 shares as of December 31, 2015 and 2016, respectively) (1,748,836) (1,748,836)
Total shareholders' equity 270,099,761 240,354,463
Noncontrolling interest 1,629,161 1,302,027
Total equity 271,728,922 241,656,490
TOTAL LIABILITIES AND EQUITY $ 656,708,076 $ 660,851,404