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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 155,809 $ 1,612,957
Pledged deposits 6,015,177 5,520,991
Trade accounts and bills receivable, net 11,547,459 7,952,420
Inventories 5,359,576 8,666,714
Prepayments and other receivables 4,425,349 4,735,913
Total current assets 27,503,370 28,488,995
Property, plant and equipment, net 35,622,684 38,177,565
Construction in progress 22,258,654 21,707,624
Right-of-use assets 7,010,713 7,194,195
Intangible assets, net 12,387 15,178
Total assets 92,407,808 95,583,557
Current liabilities    
Trade accounts and bills payable 14,763,405 15,072,108
Short-term bank borrowings 5,647,478 5,730,289
Current maturities of long-term bank loans 19,914,792 10,844,463
Other short-term loans 5,139,510 7,351,587
Notes payable 2,435,347 2,846,736
Accrued expenses and other payables 14,664,868 15,527,589
Payables to former subsidiaries, net 1,508,523 1,483,352
Deferred government grants, current 139,974 142,026
Total current liabilities 64,213,897 58,998,150
Long-term bank loans, net of current maturities 9,519,029
Deferred government grants, non-current 3,989,298 4,118,807
Product warranty provision 2,140,568 2,246,933
Long term tax payable 6,940,808 7,042,582
Total liabilities 77,284,571 81,925,501
Commitments and contingencies
Shareholders' equity (deficit)    
Common stock $0.001 par value; 500,000,000 authorized; 53,220,902 issued and 53,076,696 outstanding as of December 31, 2019, 63,802,338 issued and 63,658,132 outstanding as of June 30, 2020 63,803 53,222
Donated shares 14,101,689 14,101,689
Additional paid-in capital 185,487,657 180,208,610
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (179,734,609) (176,177,413)
Accumulated other comprehensive loss (2,016,076) (1,744,730)
Stockholders' equity (deficit) before Treasury Stock 19,132,975 17,671,889
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 15,066,365 13,605,279
Non-controlling interests 56,872 52,777
Total equity 15,123,237 13,658,056
Total liabilities and shareholder's equity $ 92,407,808 $ 95,583,557