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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current Assets:    
Cash and cash equivalents $ 4,549,200 $ 5,295,790
Banker's acceptances 90,330 458,233
Trade accounts receivable, less allowance for doubtful accounts of $48,667,814 and $44,347,451, respectively 11,351,607 13,853,744
Other receivables, less allowance for doubtful accounts of $81,605 and $60,325, respectively 401,223 272,199
Advances to suppliers 8,450,189 7,889,009
Inventory, less allowance for obsolescence of $7,222,881 and $6,934,044, respectively 13,623,919 15,321,856
Prepaid expenses 58,102 404,370
Total Current Assets 38,524,570 43,495,201
Advances for purchases of intangible assets 43,136,305 42,390,186
Property and equipment, net of accumulated depreciation of $8,413,910 and $6,640,718, respectively 32,596,716 33,881,878
Intangible assets, net of accumulated amortization of $4,389,602 and $4,186,273, respectively 1,154,782 1,317,221
TOTAL ASSETS 115,412,373 121,084,486
Current Liabilities:    
Trade accounts payable 3,698,993 2,550,816
Accrued expenses 253,012 269,870
Other payables 1,527,045 1,401,470
Advances from customers 1,042,971 2,078,866
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 1,642,360 1,629,062
Short-term notes payable 4,927,079 4,887,187
Total Current Liabilities 14,446,027 14,171,838
Non-current Liabilities:    
Construction loan facility 11,496,518 11,403,438
Deferred revenue 2,536,923 2,516,383
Long-term deferred tax liability 293,634 252,707
Total Liabilities 28,773,102 28,344,366
Stockholders' Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized;no shares issued or outstanding 0 0
Common stock, $0.001 par value; 95,000,000 shares authorized;43,579,557 shares and 43,579,557 shares outstanding, respectively 43,580 43,580
Additional paid-in capital 23,590,204 23,590,204
Retained earnings 42,498,895 49,345,516
Accumulated other comprehensive income 20,506,592 19,760,820
Total Stockholders' Equity 86,639,271 92,740,120
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 115,412,373 $ 121,084,486