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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 60,676,605 $ 15,987,478
Restricted cash 11,989,559 15,893,467
Accounts receivable, net of allowance for doubtful accounts of $10,163 and $7,993 as of December 31, 2016 and 2017, respectively 2,971,930 4,836,499
Note receivables 27,285,503 13,025,552
Prepaid expenses and other current assets 8,182,567 8,027,667
Advances to suppliers 2,655,623 1,722,783
Inventories 19,603,324 12,280,700
Amounts due from related parties 8,997,439 1,528,712
Total current assets 142,362,550 73,302,858
Property, plant and equipment, net 579,128,691 557,427,884
Prepaid land use rights, net 25,888,850 24,809,809
Deferred tax assets 714,068 585,944
Cost method investment 687,074 581,581
TOTAL ASSETS 748,781,233 656,708,076
Current liabilities:    
Short-term bank borrowings, including current portion of long-term bank borrowings 99,300,118 105,980,320
Accounts payable 22,403,913 18,745,297
Note payables 16,876,869 25,732,489
Advances from customers 16,690,895 7,519,605
Payables for purchases of property, plant and equipment 25,144,073 51,322,901
Accrued expenses and other current liabilities 16,134,408 8,320,041
Amounts due to related parties 6,769,898 26,829,605
Income tax payable 13,191,205 5,300,163
Total current liabilities 216,511,379 249,750,421
Long-term bank borrowings 113,588,232 111,948,913
Deferred government subsidies 24,153,555 23,279,820
Total liabilities 354,253,166 384,979,154
Commitments and contingencies (Note 18)
Ordinary shares;    
$0.0001 par value 500,000,000 shares authorized as of December 31, 2016 and 2017; 279,214,103 shares issued as of December 31, 2016 and 2017 and 262,956,278 and 270,918,702 shares outstanding as of December 31, 2016 and 2017, respectively 27,328 26,532
Additional paid in capital 247,076,428 240,111,533
Retained Earnings 133,273,480 40,432,352
Accumulated other comprehensive income (loss) 13,107,187 (8,721,820)
Treasury shares, at cost (4,643,150 shares as of December 31, 2016 and 2017) (1,748,836) (1,748,836)
Total shareholders' equity 391,735,587 270,099,761
Non-controlling interest 2,792,480 1,629,161
Total equity 394,528,067 271,728,922
TOTAL LIABILITIES AND EQUITY $ 748,781,233 $ 656,708,076