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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 1,612,957 $ 449,670
Pledged deposits 5,520,991 17,239,823
Trade accounts and bills receivable, net 7,952,420 21,751,032
Inventories 8,666,714 9,622,361
Prepayments and other receivables 4,735,913 7,143,454
Prepaid land use rights, current portion 163,352
Total current assets 28,488,995 56,369,692
Property, plant and equipment, net 38,177,565 38,908,503
Construction in progress 21,707,624 25,001,813
Prepaid land use rights, non-current 7,282,765
Right-of-use assets 7,194,195
Intangible assets, net 15,178 20,869
Total assets 95,583,557 127,583,642
Current liabilities    
Trade accounts and bills payable 15,072,108 52,495,063
Current maturities of long-term bank loans 16,574,752 3,659,324
Other short-term loans 7,351,587 14,147,801
Notes payables 2,846,736
Accrued expenses and other payables 15,527,589 18,201,351
Payables to former subsidiaries, net 1,483,352 4,301,646
Deferred government grants, current 142,026 143,775
Total current liabilities 58,998,150 92,948,960
Long-term bank loans 9,519,029 20,614,194
Deferred government grants, non-current 4,118,807 4,313,289
Product warranty provisions 2,246,933 2,250,615
Long term tax payable 7,042,582 7,129,285
Total liabilities 81,925,501 127,256,343
Commitments and contingencies
Shareholders' equity    
Common stock $0.001 par value; 500,000,000 authorized; 26,791,684 issued and 26,647,478 outstanding as of December 31, 2018; and 53,220,902 issued and 53,076,696 outstanding as of December 31, 2019 53,222 26,792
Donated shares 14,101,689 14,101,689
Additional paid-in capital 180,208,610 155,931,770
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (176,177,413) (165,409,890)
Accumulated other comprehensive loss (1,744,730) (1,498,940)
Stockholders' equity (deficit) before Treasury Stock 17,671,889 4,381,932
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 13,605,279 315,322
Non-controlling interests 52,777 11,977
Total equity 13,658,056 327,299
Total liabilities and shareholder's equity $ 95,583,557 $ 127,583,642