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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 51,839,535 $ 65,419,389
Restricted cash 62,609,361 28,609,307
Short-term investments   21,807,000
Accounts receivable, net of allowance for doubtful accounts of nil as of December 31, 2018 and 2019 13,287 1,180,598
Notes receivable 5,644,392 8,111,044
Prepaid expenses and other current assets 15,343,671 10,335,501
Advances to suppliers 1,544,474 3,327,951
Inventories, net 36,391,463 15,449,367
Amount due from related parties 16,521 815,035
Current assets associated with discontinued operations 925,657 5,013,615
Total current assets 174,328,361 160,068,807
Property, plant and equipment, net 995,027,214 616,974,820
Prepaid land use rights, net 29,593,265 23,923,272
Deferred tax assets 1,351,883 821,137
Investment in an affiliate 641,972 649,839
Operating lease right-of-use assets 196,628 0
Non-current assets associated with discontinued operations 216,698 52,491,206
TOTAL ASSETS 1,201,356,021 854,929,081
Current liabilities:    
Short-term bank borrowings, including current portion of long-term bank borrowings 128,611,710 38,205,864
Accounts payable 12,713,395 9,195,467
Notes payable 101,170,607 29,209,130
Advances from customers - short-term portion 33,027,795 10,213,940
Payables for purchases of property, plant and equipment 112,538,482 27,220,943
Accrued expenses and other current liabilities 12,222,100 9,417,702
Amount due to related parties - short-term portion 38,824,827 2,260,007
Income tax payable 4,788,730 5,454,951
Lease liability - short-term portion 84,819 0
Current liabilities associated with discontinued operations 1,163,872 18,675,930
Total current liabilities 445,146,337 149,853,934
Long-term bank borrowings 151,518,023 133,312,370
Advances from customers - long-term portion 2,154,300 7,269,000
Deferred government subsidies 21,033,638 21,462,621
Amount due to related parties - long-term portion 7,899,100 15,991,800
Deferred tax liabilities 6,367,880 1,184,644
Lease liability - long-term portion 77,323 0
Non-current liabilities associated with discontinued operations 0 723,035
Total liabilities 634,196,601 329,797,404
Commitments and contingencies (Note 17)
Ordinary shares;    
$0.0001 par value 500,000,000 shares authorized as of December 31, 2018 and 2019; 351,823,578 shares issued and 332,029,752 shares outstanding as of December 31, 2018; 351,823,578 shares issued and 347,419,152 shares outstanding as of December 31, 2019 34,977 33,439
Additional paid-in capital 387,371,083 368,681,449
Retained earnings 200,922,577 171,398,185
Accumulated other comprehensive loss (19,936,848) (13,232,560)
Treasury shares, at cost (4,643,150 shares as of December 31, 2018 and 2019) (1,748,836) (1,748,836)
Total shareholders' equity 566,642,953 525,131,677
Non-controlling interest 516,467  
Total equity 567,159,420 525,131,677
TOTAL LIABILITIES AND EQUITY $ 1,201,356,021 $ 854,929,081