XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Assets    
Cash and cash equivalents $ 1,993,531 $ 11,681,750
Pledged deposits 15,552,996 8,989,748
Trade accounts and bills receivable, net 22,231,442 29,571,274
Inventories 9,249,455 5,252,845
Prepayments and other receivables 9,715,578 7,439,544
Investment in sales-type lease, net 838,649 235,245
Total current assets 59,581,651 63,170,406
Property, plant and equipment, net 42,050,589 41,040,370
Construction in progress 49,246,115 30,193,309
Non-marketable equity securities 702,807
Hitrans loan 20,326,775
Deposit paid for acquisition of a subsidiary 8,349,118
Operating lease right-of-use assets, net 1,981,422
Prepaid land use right- non current 7,465,426 7,500,780
Intangible assets, net 21,418 11,807
Investment in sales-type lease, net 980,731 850,407
Total assets 190,706,052 142,767,079
Liabilities    
Trade accounts and bills payable 21,050,320 28,352,292
Current maturities of long-term bank loans 13,739,546
Other short-term loans 680,563 1,253,869
Accrued expenses and other payables 15,796,594 11,645,459
Payables to former subsidiaries, net 361,874 626,990
Deferred government grants, current 153,402 151,476
Product warranty provisions 124,670 155,888
Operating lease liability, current 753,404
Warrants liability 10,474,000 17,783,000
Total current liabilities 49,394,827 73,708,520
Deferred government grants, non-current 8,833,848 7,304,832
Operating lease liability 801,266
Product warranty provision 1,873,626 1,835,717
Long term tax payable 7,606,677 7,511,182
Total liabilities 68,510,244 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, 88,555,390 issued and 88,411,184 outstanding as of September 30, 2021 88,555 79,310
Donated shares 14,101,689 14,101,689
Additional paid-in capital 241,232,244 225,278,113
Statutory reserves 1,230,511 1,230,511
Accumulated deficit (131,654,694) (183,984,311)
Accumulated other comprehensive loss 1,240,354 (239,609)
Stockholders' equity (deficit) before Treasury Stock 126,238,659 56,465,703
Less: Treasury shares (4,066,610) (4,066,610)
Total shareholders’ equities 122,172,049 52,399,093
Non-controlling interests 23,759 7,735
Total of equities 122,195,808 52,406,828
Total liabilities and shareholders’ equity $ 190,706,052 $ 142,767,079