September 30,

March 31,

2012

2013

For short- term bank loans

Inventories

$

23,863,691

$

24,163,958

Machinery and equipment, net

47,255,604

44,076,028

Land use rights, buildings and construction in progress of BAK Industrial Park

107,140,980

105,336,168

Land use rights #1 of Tianjin Industrial Park Zone

23,970,502

23,907,306

202,230,777

197,483,460

For long- term bank loans (Note 8)

Land use right and construction in progress of Research and Development Test Centre

34,796,887

40,723,035

For other long- term loans

Land use rights #2 of Tianjin Industrial Park Zone

9,566,555

9,577,458

$

246,594,219

$

247,783,953