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Consolidated statements of cash flows - USD ($)
6 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net profit (loss) $ (4,035,831) $ 18,455,888
Income from discontinued operations, net of tax 0 (1,521,519)
Adjustments to reconcile net profit (loss) to net cash used in operating activities:    
Depreciation and amortization 558,421 126,662
Provision for doubtful accounts 7,433 0
Write-down of inventories 239,035 0
Share-based compensation 694,819 0
Deferred government grants 0 (23,215,355)
Deferred tax liabilities 15,135 5,803,534
Exchange loss (gain) (16,914) 49,194
Changes in operating assets and liabilities:    
Trade accounts receivable (2,245,156) (4,561,645)
Inventories (1,778,125) 2,110,717
Prepayments and other receivables (1,185,078) (211,287)
Trade accounts and bills payable 7,928,834 129,857
Accrued expenses and other payables 383,912 7,658
Trade receivable from and payable to a former subsidiaries 1,475,040 1,588,655
Net cash (used in) provided by operating activities 2,041,525 (1,237,641)
Cash flows from investing activities    
Increase in pledged deposits (514,522) 0
Deferred government grant 0 7,452,684
Purchases of property, plant and equipment and construction in progress (7,624,827) (4,246,276)
Net cash provided by (used in) continuing operations (8,139,349) 3,206,408
Net cash provided by discontinued operations 0 1,360,031
Net cash provided by (used in) investing activities (8,139,349) 4,566,439
Cash flows from financing activities    
Proceeds from bank borrowings 481,283 0
Borrowings from related party 0 1,226,999
Repayment to related party 0 (869,238)
Borrowings from unrelated parties 618,668 555,520
Repayment of borrowings from unrelated parties (77,333) (4,728,377)
Net cash (used in) provided by financing activities 1,022,618 (3,815,096)
Effect of exchange rate changes on cash and cash equivalents (92,642) (9,963)
Net decrease in cash and cash equivalents (5,167,848) (496,261)
Cash and cash equivalents at the beginning of period 6,762,745 991,519
Cash and cash equivalents at the end of period 1,594,897 495,258
Non-cash transactions:    
Purchase of inventories offset against receivables from former subsidiaries 0 618,689
Purchase of property, plant and equipment (inclusive of VAT) offset against receivables from former subsidiaries 0 6,577,177
Removal expenditures offset against government grants 0 1,007,887
Trade accounts receivable offset against advance from a related company 0 351,046
Cash paid during the period    
Income taxes 464,024 0
Interest, net of amounts capitalized $ 0 $ 0