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Condensed consolidated balance sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 750,445 $ 1,644,535
Pledged deposits 18,896,380 9,104,178
Trade accounts and bills receivable, net 28,605,444 57,518,612
Inventories 9,124,583 9,832,405
Prepayments and other receivables 6,420,789 6,971,810
Prepaid land use rights, current portion 163,602 172,700
Total current assets 63,961,243 85,244,240
Property, plant and equipment, net 39,084,497 34,965,510
Construction in progress 21,756,422 25,029,290
Prepaid land use rights, non-current 7,334,819 7,872,235
Intangible assets, net 21,999 20,049
Total assets 132,158,980 153,131,324
Current liabilities    
Current maturities of long-term bank loans 4,368,211 0
Other short-term loans 16,269,642 14,636,450
Trade accounts and bills payable 61,184,722 65,616,543
Accrued expenses and other payables 12,738,118 14,208,947
Payables to former subsidiaries, net 1,255,044 22,302,721
Deferred government grants, current 143,995 152,003
Total current liabilities 95,959,732 116,916,664
Long-term bank loans, net of current maturities 18,681,383 19,489,702
Deferred government grants, non-current 4,355,894 4,712,128
Product warranty provision 2,045,137 2,279,831
Long term tax payable 7,140,205 7,537,273
Total liabilities 128,182,351 150,935,598
Commitments and contingencies 0 0
Shareholders' equity    
Common stock $0.001 par value; 500,000,000 authorized ; 26,367,523 issued and 26,223,317 outstanding as of December 31, 2017, 26,791,684 issued and 26,647,478 outstanding as of September 30, 2018 26,792 26,368
Donated shares 14,101,689 14,101,689
Additional paid-in capital 155,899,592 155,711,014
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (161,548,214) (163,466,713)
Accumulated other comprehensive loss (1,681,978) (1,340,533)
Stockholders Equity before Treasury Stock 8,028,392 6,262,336
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 3,961,782 2,195,726
Non-controlling interests 14,847 0
Total equity 3,976,629 2,195,726
Total liabilities and Shareholders' equity $ 132,158,980 $ 153,131,324