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Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,030,214 $ 2,665,802
Restricted cash 709,796 1,088,879
Banker's acceptances 39,867
Trade accounts receivable, less allowance for doubtful accounts of $18,209,734 and $15,664,496, respectively 2,293,120 3,999,809
Other receivables, less allowance for doubtful accounts of $40,010 and $71,548, respectively 162,981 224,373
Advances to suppliers 461,307 2,003,792
Inventory 6,407,155 7,310,939
Prepaid expenses 185,647 226,357
Total Current Assets 12,290,087 17,519,951
Advances for purchases of intangible assets 23,722,954 35,498,059
Property and equipment, net 23,541,003 24,967,448
Intangible assets, net 398,856 534,682
TOTAL ASSETS 59,952,900 78,520,140
Current Liabilities:    
Trade accounts payable 1,141,138 3,060,374
Accrued expenses 276,368 139,830
Other payables 2,858,701 2,502,694
Advances from customers 581,132 811,232
Other payables - related parties 1,354,567 1,354,567
Current portion of construction loan facility 2,305,430 1,440,154
Bankers' acceptance notes payable 709,796 1,088,879
Total Current Liabilities 9,227,132 10,397,730
Non-current Liabilities:    
Construction loan facility 6,916,291 8,640,927
Deferred tax liability 738,175 572,349
Total Liabilities 16,881,598 19,611,006
Stockholders' Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding
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 5,479,809 24,757,374
Accumulated other comprehensive income 13,957,709 10,517,976
Total Stockholders' Equity 43,071,302 58,909,134
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 59,952,900 $ 78,520,140