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BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2017

BORROWINGS [Abstract]

Schedule of Bank Borrowings

The Group’s bank borrowings consisted of the following:

		December 31,
		2016			2017
Short-term bank borrowings		$	55,582,070		$	68,400,950
Long-term bank borrowings, current portion			50,398,250			30,899,168
Total borrowings, current			105,980,320			99,300,118
Long-term bank borrowings, non-current portion			111,948,913			113,588,232
Total		$	217,929,233		$	212,888,350

Schedule of Long-Term Bank Borrowings

The long-term bank borrowings, including current portion, as of December 31, 2016 and 2017 are comprised of:

		December 31,
		2016			2017
Borrowing from Huaxia Bank			—			3,074,200
Borrowing from Bank of China			33,118,850			—
Borrowing from Chongqing Rural Commercial Bank			129,228,313			141,413,200
Total		$	162,347,163		$	144,487,400

Schedule of Principal Maturities of Long-term Bank Borrowings

The principal maturities of these long-term bank borrowings as of December 31, 2017 are as follows:

Year ending December 31,		Amount
2018		$	30,899,168
2019			35,972,752
2020			33,820,812
2021			24,598,212
2022			15,375,612
2023			3,820,844
Total		$	144,487,400

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

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