XML 14 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed consolidated balance sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 514,742 $ 1,644,535
Pledged deposits 12,983,732 9,104,178
Trade accounts and bills receivable, net 31,778,437 57,518,612
Inventories 10,690,968 9,832,405
Prepayments and other receivables 7,545,633 6,971,810
Prepaid land use rights, current portion 169,762 172,700
Total current assets 63,683,274 85,244,240
Property, plant and equipment, net 37,965,789 34,965,510
Construction in progress 26,366,506 25,029,290
Prepaid land use rights, non-current 7,653,427 7,872,235
Intangible assets, net 18,365 20,049
Total assets 135,687,361 153,131,324
Current liabilities    
Current maturities of long-term bank loans 4,532,681 0
Other short-term loans 16,505,211 14,636,450
Trade accounts and bills payable 57,032,311 65,616,543
Accrued expenses and other payables 13,007,228 14,208,947
Payables to former subsidiaries, net 15,721,206 22,302,721
Deferred government grants, current 149,417 152,003
Total current liabilities 106,948,054 116,916,664
Long-term bank loans, net of current maturities 18,024,960 19,489,702
Deferred government grants, non-current 4,557,254 4,712,128
Product warranty provision 2,265,167 2,279,831
Long term tax payable 7,409,044 7,537,273
Total liabilities 139,204,479 150,935,598
Commitments and contingencies 0 0
Shareholders' equity (deficit)    
Common stock $0.001 par value; 500,000,000 authorized ; 26,367,523 issued and 26,223,317 outstanding as of December 31, 2017, 26,401,022 issued and 26,256,816 outstanding as of June 30, 2018 26,402 26,368
Donated shares 14,101,689 14,101,689
Additional paid-in capital 155,865,835 155,711,014
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (169,476,741) (163,466,713)
Accumulated other comprehensive loss (1,200,623) (1,340,533)
Stockholders' Equity before Treasury stock 547,073 6,262,336
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity (deficit) (3,519,537) 2,195,726
Non-controlling interests 2,419 0
Total equity (deficit) (3,517,118) 2,195,726
Total liabilities and shareholders' equity (deficit) $ 135,687,361 $ 153,131,324