v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
REVENUES:      
Revenues $ 313,135,771 $ 204,682,698 $ 61,672,603
Revenues - related parties   12,618,047 6,201,701
Total revenues 313,135,771 217,300,745 67,874,304
COST OF GOODS SOLD:      
Cost of goods sold 279,398,945 174,315,969 53,006,818
Cost of goods sold - related parties   10,285,788 4,757,517
Total cost of goods sold 279,398,945 184,601,757 57,764,335
GROSS PROFIT 33,736,826 32,698,988 10,109,969
OPERATING EXPENSES:      
Selling expenses 1,705,737 700,148 116,918
General and administrative expenses 5,778,875 6,443,314 889,481
Total operating expenses 7,484,612 7,143,462 1,006,399
INCOME FROM OPERATIONS 26,252,214 25,555,526 9,103,570
OTHER INCOME (EXPENSES):      
Interest income 288,415 89,900 7,221
Interest expense (2,074,034) (1,021,066) (841,613)
Other income (expense), net (248,545) (892,184) (75,893)
Change in fair value of warrant derivative liability 925,445 (286,877)  
Gain from disposal of subsidiaries 126,860    
Total other expenses, net (981,859) (2,110,227) (910,285)
INCOME BEFORE PROVISION FOR INCOME TAXES 25,270,355 23,445,299 8,193,285
PROVISION FOR INCOME TAXES 8,651,298 3,513,710 1,034,212
NET INCOME 16,619,057 19,931,589 7,159,073
OTHER COMPREHENSIVE INCOME:      
Foreign currency translation adjustment 83,757 1,772,063 (16,864)
Realization of foreign currency translation gain relating to disposal of subsidiaries (3,815,471)    
COMPREHENSIVE INCOME $ 12,887,343 $ 21,703,652 $ 7,142,209
EARNINGS PER SHARE:      
Basic $ 1.03 $ 2.13 $ 0.84
Diluted $ 1.02 $ 1.86 $ 0.84
WEIGHTED AVERAGE NUMBER OF COMMON SHARES:      
Basic 16,086,598 9,354,186 8,500,000
Diluted 16,288,242 10,705,957 8,500,000