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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 33,299,230 $ 11,681,750
Pledged deposits 19,070,676 8,989,748
Trade accounts and bills receivable, net 22,186,035 29,571,274
Inventories 9,697,450 5,252,845
Prepayments and other receivables 8,404,443 7,439,544
Investment in sales-type lease, net 749,703 235,245
Total current assets 93,407,537 63,170,406
Property, plant and equipment, net 40,285,018 41,040,370
Construction in progress 43,892,784 30,193,309
Non-marketable equity securities 701,743  
Deposit paid for acquisition of a subsidiary 3,096,646  
Right-of-use assets 7,495,092 7,500,780
Operating lease right-of-use assets, net 2,154,035  
Intangible assets, net 10,558 11,807
Investment in sales-type lease, net 1,130,389 850,407
Total assets 192,173,802 142,767,079
Current liabilities    
Trade accounts and bills payable 24,250,568 28,352,292
Current maturities of long-term bank loans 13,739,546
Other short-term loans 830,237 1,253,869
Accrued expenses and other payables 12,407,180 11,645,459
Payables to former subsidiaries, net 362,549 626,990
Deferred government grants, current 153,118 151,476
Product warranty provisions 124,075 155,888
Operating lease liability, current 1,180,631  
Warrants liability 33,472,000 17,783,000
Total current liabilities 72,780,358 73,708,520
Deferred government grants, non-current 7,307,444 7,304,832
Operating lease liability 787,562  
Product warranty provision 1,867,312 1,835,717
Long term tax payable 7,592,590 7,511,182
Total liabilities 90,335,266 90,360,251
Commitments and contingencies
Shareholders’ equity (deficit)    
Common stock $0.001 par value; 500,000,000 authorized; 79,310,249 issued and 79,166,043 outstanding as of December 31, 2020, 88,538,723 issued and 88,394,517 outstanding as of June 30, 2021 88,538 79,310
Donated shares 14,101,689 14,101,689
Additional paid-in capital 241,141,468 225,278,113
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (151,674,428) (183,984,311)
Accumulated other comprehensive (loss) income 997,013 (239,609)
Stockholders' equity (deficit) before Treasury Stock 105,884,791 56,465,703
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders’ equities 101,818,181 52,399,093
Non-controlling interests 20,355 7,735
Total equity 101,838,536 52,406,828
Total liabilities and shareholder’s equity $ 192,173,802 $ 142,767,079