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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 11,681,750 $ 1,612,957
Pledged deposits 8,989,748 5,520,991
Trade accounts and bills receivable, net 29,571,274 7,952,420
Inventories 5,252,845 8,666,714
Prepayments and other receivables 7,439,544 4,735,913
Investment in sales-type lease, net 235,245
Total current assets 63,170,406 28,488,995
Property, plant and equipment, net 41,040,370 38,177,565
Construction in progress 30,193,309 21,707,624
Right-of-use assets 7,500,780 7,194,195
Intangible assets, net 11,807 15,178
Investment in sales-type lease, net 850,407
Total assets 142,767,079 95,583,557
Current liabilities    
Trade accounts and bills payable 28,352,292 15,072,108
Current maturities of long-term bank loans 13,739,546 16,574,752
Other short-term loans 1,253,869 7,351,587
Notes payables 2,846,736
Accrued expenses and other payables 11,645,459 15,527,589
Payables to former subsidiaries, net 626,990 1,483,352
Deferred government grants, current 151,476 142,026
Product warranty provisions 155,888
Warrants liability 17,783,000
Total current liabilities 73,708,520 58,998,150
Long-term bank loans 9,519,029
Deferred government grants, non-current 7,304,832 4,118,807
Product warranty provisions 1,835,717 2,246,933
Long term tax payable 7,511,182 7,042,582
Total liabilities 90,360,251 81,925,501
Commitments and contingencies  
Shareholders' equity    
Common stock $0.001 par value; 500,000,000 authorized; 53,220,902 issued and 53,076,696 outstanding as of December 31, 2019; and 79,310,249 issued and 79,166,043 outstanding as of December 31, 2020 79,310 53,222
Donated shares 14,101,689 14,101,689
Additional paid-in capital 225,278,113 180,208,610
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (183,984,311) (176,177,413)
Accumulated other comprehensive loss (239,609) (1,744,730)
Stockholders' equity (deficit) before Treasury Stock 56,465,703 17,671,889
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders' equity 52,399,093 13,605,279
Non-controlling interests 7,735 52,777
Total equity 52,406,828 13,658,056
Total liabilities and shareholder's equity $ 142,767,079 $ 95,583,557