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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 449,670 $ 1,644,535
Pledged deposits 17,239,823 9,104,178
Trade accounts and bills receivable, net 21,751,032 57,518,612
Inventories 9,622,361 9,832,405
Prepayments and other receivables 7,143,454 6,971,810
Prepaid land use rights, current portion 163,352 172,700
Total current assets 56,369,692 85,244,240
Property, plant and equipment, net 38,908,503 34,965,510
Construction in progress 25,001,813 25,029,290
Prepaid land use rights, non-current 7,282,765 7,872,235
Intangible assets, net 20,869 20,049
Total assets 127,583,642 153,131,324
Current liabilities    
Trade accounts and bills payable 52,495,063 65,616,543
Current maturities of long-term bank loans 3,659,324
Other short-term loans 14,147,801 14,636,450
Accrued expenses and other payables 18,201,351 14,208,947
Payables to former subsidiaries, net 4,301,646 22,302,721
Deferred government grants, current 143,775 152,003
Total current liabilities 92,948,960 116,916,664
Long-term bank loans 20,614,194 19,489,702
Deferred government grants, non-current 4,313,289 4,712,128
Product warranty provisions 2,250,615 2,279,831
Long term tax payable 7,129,285 7,537,273
Total liabilities 127,256,343 150,935,598
Commitments and contingencies
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; and 26,791,684 issued and 26,647,478 outstanding as of December 31, 2018 26,792 26,368
Donated shares 14,101,689 14,101,689
Additional paid-in capital 155,931,770 155,711,014
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (165,409,890) (163,466,713)
Accumulated other comprehensive loss (1,498,940) (1,340,533)
Stockholders Equity before Treasury Stock 4,381,932 6,262,336
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 315,322 2,195,726
Non-controlling interests 11,977
Total equity 327,299 2,195,726
Total liabilities and shareholder's equity $ 127,583,642 $ 153,131,324