XML 43 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,882,965 $ 3,287,107
Adjustments to reconcile net income to net cash provided by operating activities:    
Interest on capital lease obligation 52,790 54,020
Amortization of prepaid land leases 98,215 54,871
Depreciation and amortization 6,807,488 5,683,163
Exchange loss on inter-company balances 65,119 24,322
Stock-based compensation expense 4,900 15,300
Deferred tax asset    78,204
Changes in assets and liabilities:    
Accounts receivable 5,165,084 (5,325,631)
Inventories 604,499 (323,846)
Prepayments and deposits (28,125) (56,325)
Accounts payable and accrued expenses (584,614) 362,206
Retention payable (1,055,005) (15,458)
Taxes payable 334,305 (523,983)
Net cash provided by operating activities 13,347,621 3,313,950
CASH FLOWS USED IN INVESTING ACTIVITIES    
Additions of prepaid land leases (290,017) (109,076)
Net cash used in investing activities (290,017) (109,076)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 193,013 86,483
NET INCREASE IN CASH AND CASH EQUIVALENTS 13,250,617 3,291,357
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 65,241,035 78,576,060
CASH AND CASH EQUIVALENTS - END OF PERIOD 78,491,652 81,867,417
Cash paid during the period for:    
Income taxes $ 536,144 $ 1,689,197