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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 76,596,000 $ 51,840,000
Restricted cash 41,808,000 62,609,000
Accounts receivable, net of allowance for doubtful accounts of nil and nil as of December 31, 2019 and 2020, respectively 0 13,300
Notes receivable 153,000 5,644,000
Prepaid expenses and other current assets 11,477,000 15,344,000
Advances to suppliers 7,949,000 1,544,000
Inventories 42,159,000 36,391,000
Amounts due from related parties 129,000 17,000
Current assets associated with discontinued operations 0 926,000
Total current assets 180,271,000 174,328,000
Property, plant and equipment, net 1,027,086,000 995,027,000
Prepaid land use rights, net 30,829,000 29,593,000
Deferred tax assets 0 1,352,000
Investment in an affiliate 685,000 642,000
Operating lease right-of-use assets 119,000 197,000
Other non-current assets 153,000 0
Non-current assets associated with discontinued operations 0 217,000
TOTAL ASSETS 1,239,143,000 1,201,356,000
Current liabilities:    
Short-term bank borrowings, including current portion of long-term bank borrowings 70,431,000 128,612,000
Accounts payable 18,953,000 12,713,000
Notes payable 49,355,000 101,171,000
Advances from customers - short-term portion 37,783,000 33,028,000
Payables for purchases of property, plant and equipment 49,555,000 112,538,000
Accrued expenses and other current liabilities 30,148,000 12,222,000
Amounts due to related parties - short-term portion 5,150,000 38,825,000
Income tax payable 22,678,000 4,789,000
Lease liability - short-term portion 82,400 85,000
Current liabilities associated with discontinued operations 0 1,165,000
Total current liabilities 284,135,000 445,148,000
Long-term bank borrowings 123,222,000 151,518,000
Advances from customers - long-term portion 3,265,000 2,154,000
Deferred government subsidies 21,907,000 21,034,000
Amount due to related parties - long-term portion 4,238,000 7,899,000
Deferred tax liabilities 3,461,000 6,368,000
Lease liability - long-term portion 0 77,000
Total liabilities 440,228,000 634,198,000
Commitments and contingencies (Note 17)
Ordinary shares;    
$0.0001 par value 500,000,000 shares authorized as of December 31, 2019 and 2020; 351,823,578 shares issued and 347,419,152 shares outstanding as of December 31, 2019; 390,423,578 shares issued and 365,235,402 shares outstanding as of December 31, 2020 37,000 35,000
Additional paid-in capital 412,450,000 387,371,000
Retained earnings 330,118,000 200,923,000
Accumulated other comprehensive (loss) income 26,267,000 (19,937,000)
Treasury shares, at cost (4,643,150 shares as of December 31, 2019 and 2020) (1,749,000) (1,749,000)
Total shareholders' equity 767,123,000 566,643,000
Non-controlling interest 31,792,000 515,000
Total shareholder equity 798,915,000 567,158,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,239,143,000 $ 1,201,356,000