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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016
NET REVENUE |  |  |  |
Net revenue | $ 23,840,391 | $ 38,811,622 | $ 104,160,873 | $ 120,907,839
OPERATING INCOME (EXPENSE) |  |  |  |
Cost of net revenue | (14,518,439) | (23,107,921) | (61,664,044) | (76,184,822)
Sales, marketing and other operating expenses | (65,599) | (83,087) | (242,045) | (269,357)
Research and development cost | (42,074) | (68,115) | (169,246) | (198,330)
Write-off/Impairment on property, plant and equipment | 0 | (90,395) | 0 | (90,395)
General and administrative expenses | (4,451,027) | (1,613,933) | (8,236,430) | (4,539,845)
Other operating income | 72,000 | 108,029 | 281,613 | 328,550
Total Costs and Expenses | (19,005,139) | (24,855,422) | (70,030,152) | (80,954,199)
INCOME FROM OPERATIONS | 4,835,252 | 13,956,200 | 34,130,721 | 39,953,640
OTHER INCOME (EXPENSE) |  |  |  |
Interest expense | (40,092) | (42,012) | (124,068) | (134,150)
Interest income | 139,801 | 120,054 | 398,382 | 356,828
INCOME BEFORE TAXES | 4,934,961 | 14,034,242 | 34,405,035 | 40,176,318
INCOME TAXES | (1,509,321) | (3,518,529) | (9,152,597) | (9,996,622)
NET INCOME | 3,425,640 | 10,515,713 | 25,252,438 | 30,179,696
COMPREHENSIVE INCOME: |  |  |  |
NET INCOME | 3,425,640 | 10,515,713 | 25,252,438 | 30,179,696
OTHER COMPREHENSIVE INCOME (LOSS) |  |  |  |
Foreign currency translation adjustments | 8,450,433 | (2,637,763) | 17,748,942 | (10,505,475)
COMPREHENSIVE INCOME | $ 11,876,073 | $ 7,877,950 | $ 43,001,380 | $ 19,674,221
EARNINGS PER SHARE: |  |  |  |
BASIC | $ 0.07 | $ 0.23 | $ 0.54 | $ 0.65
DILUTED | $ 0.07 | $ 0.23 | $ 0.54 | $ 0.65
WEIGHTED AVERAGE NUMBER OF SHARES: |  |  |  |
BASIC | 46,794,443 | 46,301,217 | 46,794,011 | 46,106,194
DILUTED | 46,897,995 | 46,309,250 | 46,833,030 | 46,560,937

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