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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$ 29,972,600$ 39,283,683
Adjustments to reconcile net income to net cash provided by operating activities:  
Interest on capital lease obligation159,950 
Amortization of prepaid land leases262,56775,436
Depreciation and amortization12,543,1797,867,568
Write-off / Impairment loss on property, plant and equipment7,570,566 
Compensation income from local government for demolition of factory(1,340,026) 
Stock-based compensation expense7,467,0001,188,966
Deferred tax asset(1,823,019)(18,331)
Changes in assets and liabilities:  
Accounts receivable(1,792,588)1,719,870
Inventories(350,201)(581,346)
Prepayments and deposits3,005(290,968)
Other receivables(300,000)2,296
Accounts payable and accrued expenses3,444,3671,182,100
Taxes payable(2,275,794)2,015,614
Net cash provided by operating activities53,541,60652,444,888
CASH FLOWS USED IN INVESTING ACTIVITIES  
Additions of prepaid land leases(403,834)(99,733)
Compensation received for demolition of factory1,340,026 
Purchase of property, plant and equipment(34,457,775)(28,096,333)
Increase in construction in progress(5,230,232) 
Net cash used in investing activities(38,751,815)(28,196,066)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES  
Proceeds from exercising stock options 18,000
Proceeds from private placement 2,192,919
Repurchase of common stock(500,000) 
Repayment of capital lease obligation(288,739) 
Repayment to a related party (1,190)
Net cash (used in)/provided by financing activities(788,739)2,209,729
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS3,326,3241,403,085
NET INCREASE IN CASH AND CASH EQUIVALENTS17,327,37627,861,636
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD68,494,48045,536,735
CASH AND CASH EQUIVALENTS - END OF PERIOD85,821,85673,398,371
Cash paid during the period for:  
Income taxes16,893,97311,698,528
Interest paid1,743620
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES  
Inception of capital lease obligation for acquiring property, plant and equipment3,127,913 
Stock Option
  
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES  
Issuance of common stock5 
Warrant
  
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES  
Issuance of common stock 8
Property Plant and Equipment
  
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES  
Issuance of common stock $ 608,227