XML 80 R44.htm IDEA: XBRL DOCUMENT v2.4.1.9
BORROWINGS (Tables)
12 Months Ended
Dec. 31, 2014
BORROWINGS  
Schedule of bank borrowings

                                                                                                                                                                                    

 

 

At December 31,
2013

 

At December 31,
2014

 

 

 

$

 

$

 

Bank borrowings

 

 

929,904,076 

 

 

859,812,259 

 

​  

​  

​  

​  

Analysis as:

 

 

 

 

 

 

 

Short-term

 

 

588,765,154 

 

 

655,925,862 

 

Long-term, current portion

 

 

136,449,641 

 

 

37,201,847 

 

​  

​  

​  

​  

Subtotal for short-term

 

 

725,214,795 

 

 

693,127,709 

 

Long-term, non-current portion

 

 

142,653,448 

 

 

103,611,101 

 

Borrowings from non-banking institutions

 

 

62,035,833 

 

 

63,073,449 

 

​  

​  

​  

​  

Analysis as:

 

 

 

 

 

 

 

Short-term

 

 

53,297,709 

 

 

14,708,285 

 

Long-term, current portion

 

 

 

 

17,676,744 

 

Long-term, non-current portion

 

 

8,738,124 

 

 

30,688,420 

 

​  

​  

​  

​  

Total

 

 

929,904,076 

 

 

859,812,259 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of components of the Company's short-term borrowings

                                                                                                                                                                                    

 

 

At December 31,
2013

 

At December 31,
2014

 

 

 

$

 

$

 

Bank borrowings

 

 

 

 

 

 

 

Short-term bank borrowings secured by restricted cash

 

 

69,840,000 

 

 

120,772,338 

 

Short-term bank borrowings secured by inventories

 

 

32,905,247 

 

 

35,881,746 

 

Short-term bank borrowings guaranteed by Dr. Shawn Qu

 

 

30,161,927 

 

 

57,419,443 

 

Short-term bank borrowings secured by prepaid land use rights and property, plant and equipment

 

 

108,781,908 

 

 

91,270,262 

 

Short-term bank borrowings secured by project assets

 

 

28,035,954 

 

 

45,148,851 

 

Short-term bank borrowings secured by bank notes

 

 

36,420,800 

 

 

 

Unsecured short-term borrowings

 

 

282,619,318 

 

 

305,433,222 

 

Long-term borrowings due within one year

 

 

 

 

 

 

 

Long-term borrowings due within one year secured by prepaid land use rights and property, plant and equipment

 

 

19,926,520 

 

 

5,033,502 

 

Long-term borrowings due within one year secured by project assets

 

 

49,821,157 

 

 

586,630 

 

Long-term borrowings due within one year secured by restricted cash

 

 

 

 

19,400,000 

 

Unsecured long-term borrowings due within one year

 

 

66,701,964 

 

 

12,181,715 

 

​  

​  

​  

​  

 

 

 

725,214,795 

 

 

693,127,709 

 

Borrowings from non-banking institutions

 

 

 

 

 

 

 

Long-term borrowings due within one year secured by project assets

 

 

 

 

16,149,686 

 

Unsecured long-term borrowings due within one year

 

 

 

 

1,527,059 

 

Unsecured short-term borrowings

 

 

53,297,709 

 

 

14,708,284 

 

​  

​  

​  

​  

 

 

 

53,297,709 

 

 

32,385,029 

 

​  

​  

​  

​  

Total

 

 

778,512,504 

 

 

725,512,738 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of components of the Company's long-term borrowings

                                                                                                                                                                                    

 

 

At December 31,
2013

 

At December 31,
2014

 

 

 

$

 

$

 

Bank borrowings

 

 

 

 

 

 

 

Unsecured long-term bank borrowings

 

 

62,664,031 

 

 

50,162,122 

 

Long-term bank borrowings secured by project assets

 

 

60,589,417 

 

 

43,748,979 

 

Long-term bank borrowings secured by restricted cash

 

 

19,400,000 

 

 

9,700,000 

 

Borrowings from non-banking institutions

 

 


 

 

 


 

 

Long-term borrowings secured by project assets

 

 

7,590,000 

 

 

15,219,196 

 

Unsecured long-term borrowings

 

 

1,148,124 

 

 

15,469.224 

 

​  

​  

​  

​  

Total

 

 

151,391,572 

 

 

134,299,521 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of future principal repayment on the long-term borrowings

                                                                                                                                                                                    

2015

 

 

54,878,591

 

2016

 

 

57,778,769

 

2017

 

 

36,450,149

 

2018

 

 

7,304,681

 

2019 and thereafter

 

 

32,765,922

 

​  

​  

Total

 

 

189,178,112

 

Less: future principal repayment related to long-term borrowings, current portion

 

 

(54,878,591

)

​  

​  

Total long-term portion

 

$

134,299,521

 

​  

​  

​  

​  

​  

 

Schedule of interest expense

                                                                                                                                                                                    

 

 

Years Ended December 31

 

 

 

2012

 

2013

 

2014

 

 

 

$

 

$

 

$

 

Interest capitalized—project assets

 

 

4,631,569 

 

 

17,292,847 

 

 

10,304,555 

 

Interest capitalized—property, plant and equipment

 

 

670,374 

 

 

347,791 

 

 

203,067 

 

Interest expense

 

 

53,304,640 

 

 

46,244,456 

 

 

48,905,848 

 

​  

​  

​  

​  

​  

​  

Total interest incurred

 

 

58,606,583 

 

 

63,885,094 

 

 

59,413,470 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​