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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
NET REVENUE        
Net revenue $ 343,080 $ 23,840,391 $ 2,594,941 $ 104,160,873
OPERATING INCOME (EXPENSE)        
Cost of net revenue (68,456) (14,518,439) (1,310,272) (61,664,044)
Sales, marketing and other operating expenses (10,112) (65,599) (66,111) (242,045)
Research and development cost 0 (42,074) 0 (169,246)
Write-off/Impairment on property, plant and equipment (1,397,313) 0 (1,397,313) 0
Loss on demolition of factory (18,644,473) 0 (18,644,473) 0
Direct labor and factory overheads incurred during plant shutdown (5,563,494) (1,873,722) (16,948,499) (1,873,722)
General and administrative expenses (1,323,933) (2,577,305) (6,021,561) (6,362,708)
Other operating income (loss) (134,216) 72,000 (134,216) 281,613
Total Costs and Expenses (27,141,997) (19,005,139) (44,522,445) (70,030,152)
INCOME/(LOSS) FROM OPERATIONS (26,798,917) 4,835,252 (41,927,504) 34,130,721
OTHER INCOME (EXPENSE)        
Interest expense (37,220) (40,092) (123,749) (124,068)
Interest income 161,582 139,801 509,738 398,382
INCOME/(LOSS) BEFORE TAXES (26,674,555) 4,934,961 (41,541,515) 34,405,035
INCOME TAXES (EXPENSE) BENEFIT 7,181,521 (1,509,321) 10,258,508 (9,152,597)
NET INCOME/(LOSS) (19,493,034) 3,425,640 (31,283,007) 25,252,438
COMPREHENSIVE INCOME/(LOSS):        
NET INCOME/(LOSS) (19,493,034) 3,425,640 (31,283,007) 25,252,438
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustments (14,738,766) 8,450,433 (19,376,831) 17,748,942
COMPREHENSIVE INCOME/(LOSS) $ (34,231,800) $ 11,876,073 $ (50,659,838) $ 43,001,380
EARNINGS (LOSS) PER SHARE:        
BASIC $ (0.42) $ 0.07 $ (0.67) $ 0.54
DILUTED $ (0.42) $ 0.07 $ (0.67) $ 0.54
WEIGHTED AVERAGE NUMBER OF SHARES:        
BASIC 46,803,791 46,794,443 46,803,791 46,794,011
DILUTED 46,803,791 46,897,995 46,803,791 46,833,030