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Condensed consolidated balance sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 1,968,964 $ 408,713
Pledged deposits 4,626,395 4,278,144
Trade accounts and bills receivable, net 10,151,215 2,468,387
Inventories 16,752,670 17,094,922
Prepayments and other receivables 6,874,515 6,675,351
Prepaid land use rights, current portion 165,706 161,790
Total current assets 40,539,465 31,087,307
Property, plant and equipment, net 21,772,170 20,010,903
Construction in progress 34,010,928 33,457,043
Prepaid land use rights, non-current 7,636,279 7,536,733
Intangible assets, net 20,549 21,344
Total assets 103,979,391 92,113,330
Current liabilities    
Trade accounts and bills payable 19,094,270 15,580,655
Short-term bank loans 1,474,796 1,439,947
Other short-term loans 13,291,027 10,524,778
Accrued expenses and other payables 15,547,730 19,382,593
Payables to former subsidiaries, net 7,225,946 2,488,859
Deferred government grants, current 145,847 142,400
Total current liabilities 56,779,616 49,559,232
Long-term bank loans 18,700,410 18,258,528
Deferred government grants, non-current 4,594,220 4,556,861
Long term tax payable 6,614,604 7,061,140
Total liabilities 86,688,850 79,435,761
Commitments and contingencies 0 0
Shareholders' (deficit) equity    
Common stock $0.001 par value; 500,000,000 authorized; 19,744,605 issued and 19,600,469 outstanding as of December 31, 2016; 26,259,692 issued and 26,115,486 outstanding as of June 30, 2017 26,260 19,745
Donated shares 14,101,689 14,101,689
Additional paid-in capital 155,443,076 145,353,067
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (147,820,968) (141,999,372)
Accumulated other comprehensive loss (1,623,417) (1,961,461)
Stockholers's Equity Before Treasury Stock 21,357,151 16,744,179
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 17,290,541 12,677,569
Total liabilities and shareholders' equity $ 103,979,391 $ 92,113,330