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Related Party Transactions
 6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

14. RELATED PARTY TRANSACTIONS

 

As of June 30, 2017, the Company had $41,775 in advances from the Company’s management, which bear no interest, and are payable upon demand. 

 

During the six and three months ended June 30, 2017, the Company recognized RMB 13.47 million ($1.96 million) and RMB 6.67 million ($0.97 million), respectively, interest income for the sales-type lease of Pucheng BMPG systems from Pucheng Xin Heng Yuan Biomass Power Generation Corporation, whose major stockholder became a stockholder of the Company through the issuance of the Company’s common stock to this stockholder in consideration for the transfer of the old system to the Company for BMPG system transformation.

 

Also during the year ended December 31, 2016, prior to repurchase date of June 22, 2016, the Company recognized RMB 13.83 million ($2.09 million) interest income for the sales-type lease of Yida WGPG system from Qitaihe City Boli Yida Coal Selection Co., Ltd., whose major stockholder became a stockholder of the Company through the issuance of the Company’s common stock to this stockholder in consideration for the transfer of the old system to the Company for WGPG system transformation.