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Condensed consolidated balance sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 126,367 $ 408,713
Pledged deposits 1,959,274 4,278,144
Trade accounts and bills receivable, net 30,577,199 2,468,387
Inventories 18,247,271 17,094,922
Prepayments and other receivables 7,565,609 6,675,351
Prepaid land use rights, current portion 168,836 161,790
Total current assets 58,644,556 31,087,307
Property, plant and equipment, net 35,203,176 20,010,903
Construction in progress 22,052,947 33,457,043
Prepaid land use rights, non-current 7,738,307 7,536,733
Intangible assets, net 20,269 21,344
Total assets 123,659,255 92,113,330
Current liabilities    
Trade accounts and bills payable 34,992,856 15,580,655
Short-term bank loans 0 1,439,947
Other short-term loans 13,303,217 10,524,778
Accrued expenses and other payables 15,166,374 19,382,593
Payables to former subsidiaries, net 16,088,086 2,488,859
Deferred government grants, current 148,602 142,400
Total current liabilities 79,699,135 49,559,232
Long-term bank loans 19,053,630 18,258,528
Deferred government grants, non-current 4,643,847 4,556,861
Long term tax payable 6,739,542 7,061,140
Total liabilities 110,136,154 79,435,761
Commitments and contingencies 0 0
Shareholders' equity    
Common stock $0.001 par value; 500,000,000 authorized ; 19,744,675 issued and 19,600,469 outstanding as of December 31, 2016; 26,367,523 issued and 26,223,317 outstanding as of September 30, 2017 26,368 19,745
Donated shares 14,101,689 14,101,689
Additional paid-in capital 155,587,252 145,353,067
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (152,023,721) (141,999,372)
Accumulated other comprehensive loss (1,332,388) (1,961,461)
Stockholders' Equity before Treasury Stock 17,589,711 16,744,179
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 13,523,101 12,677,569
Total liabilities and shareholder's equity $ 123,659,255 $ 92,113,330