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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 65,116,897 $ 11,681,750
Pledged deposits 16,323,303 8,989,748
Trade accounts and bills receivable, net 23,306,670 29,571,274
Inventories 6,499,313 5,252,845
Prepayments and other receivables 7,858,583 7,439,544
Investment in sales-type lease, net 836,714 235,245
Total current assets 119,941,480 63,170,406
Property, plant and equipment, net 40,248,221 41,040,370
Construction in progress 34,104,206 30,193,309
Right-of-use assets 7,430,212 7,500,780
Operating lease right-of-use assets, net 360,382  
Intangible assets, net 11,084 11,807
Investment in sales-type lease, net 1,867,519 850,407
Total assets 203,963,104 142,767,079
Current liabilities    
Trade accounts and bills payable 25,337,685 28,352,292
Current maturities of long-term bank loans 13,688,805 13,739,546
Other short-term loans 1,105,826 1,253,869
Accrued expenses and other payables 9,253,984 11,645,459
Payables to former subsidiaries, net 382,638 626,990
Deferred government grants, current 150,917 151,476
Product warranty provisions 119,114 155,888
Warrants liability 39,222,000 17,783,000
Total current liabilities 89,260,969 73,708,520
Deferred government grants, non-current 7,240,124 7,304,832
Operating lease liability, non-current 237,600  
Product warranty provisions 1,858,006 1,835,717
Long term tax payable 7,483,442 7,511,182
Total liabilities 106,080,141 90,360,251
Commitments and contingencies
Shareholders’ equity    
Common stock $0.001 par value; 500,000,000 authorized; 79,310,249 issued and 79,166,043 outstanding as of December 31, 2020; and 88,250,225 issued and 88,106,019 outstanding as of March 31, 2021 88,250 79,310
Donated shares 14,101,689 14,101,689
Additional paid-in capital 241,048,002 225,278,113
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (154,375,029) (183,984,311)
Accumulated other comprehensive loss (145,568) (239,609)
Stockholders' equity (deficit) before Treasury Stock 101,947,855 56,465,703
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders’ equity 97,881,245 52,399,093
Non-controlling interests 1,718 7,735
Total equity 97,882,963 52,406,828
Total liabilities and shareholder’s equity $ 203,963,104 $ 142,767,079