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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 245,688 $ 449,670
Pledged deposits 17,646,326 17,239,823
Trade accounts and bills receivable, net 16,816,885 21,751,032
Inventories 9,215,623 9,622,361
Prepayments and other receivables 6,276,028 7,143,454
Prepaid land use rights, current portion 167,416 163,352
Total current assets 50,367,966 56,369,692
Property, plant and equipment, net 44,464,272 38,908,503
Construction in progress 20,971,959 25,001,813
Prepaid land use rights, non-current 7,422,088 7,282,765
Intangible assets, net 19,805 20,869
Total assets 123,246,090 127,583,642
Current liabilities    
Trade accounts and bills payable 45,273,429 52,495,063
Current maturities of long-term bank loans 3,750,359 3,659,324
Other short-term loans 14,169,927 14,147,801
Accrued expenses and other payables 18,535,867 18,201,351
Payables to former subsidiaries, net 3,259,302 4,301,646
Deferred government grants, current 147,352 143,775
Total current liabilities 85,136,236 92,948,960
Long-term bank loans 21,127,024 20,614,194
Deferred government grants, non-current 4,383,755 4,313,289
Product warranty provision 2,336,216 2,250,615
Long term tax payable 7,306,645 7,129,285
Total liabilities 120,289,876 127,256,343
Commitments and contingencies
Shareholders' equity(deficit)    
Common stock $0.001 par value; 500,000,000 authorized; 26,791,684 issued and 26,647,478 outstanding as of December 31, 2018, 31,889,724 issued and 31,745,518 outstanding as of March 31, 2019 31,890 26,792
Donated shares 14,101,689 14,101,689
Additional paid-in capital 161,144,891 155,931,770
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (168,197,282) (165,409,890)
Accumulated other comprehensive loss (1,335,253) (1,498,940)
Stockholders' equity(deficit) before Treasury Stock 6,976,446 4,381,932
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 2,909,836 315,322
Non-controlling interests 46,378 11,977
Total equity 2,956,214 327,299
Total liabilities and shareholder's equity $ 123,246,090 $ 127,583,642