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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets    
Cash and cash equivalents $ 2,641,917 $ 3,891,473
Restricted cash 10,779,845 8,873,999
Accounts receivable (net of allowance for doubtful accounts of $38,865 and $76,125 as of December 31, 2015 and 2014, respectively) 1,904,396 3,730,123
Inventories 9,205,420 7,139,599
Prepayments and other current assets 1,812,415 2,919,668
Total current assets 26,343,993 26,554,862
Prepayment on property, plant and equipment 1,404,460 1,490,440
Property, plant, and equipment, net 206,191,158 208,213,198
Recoverable VAT 3,266,454 3,228,075
Deferred tax asset - non-current 1,420,854 281,010
Total Assets 238,626,919 239,767,585
Current Liabilities    
Short-term bank loans $ 13,859,800 9,805,524
Current portion of long-term loans from credit union 147,083
Current portion of long-term loans from a related party (2,386,978)
Current obligations under capital lease $ 6,860,412 $ 12,258,488
Accounts payable 253,425
Notes payable 13,859,800 $ 16,113,744
Due to a related party 368,751 227,900
Accrued payroll and employee benefits 531,912 492,765
Other payables and accrued liabilities 3,902,971 2,400,523
Income taxes payable 600,876 637,143
Total current liabilities 40,237,947 44,470,148
Loans from credit union 5,174,325 5,760,745
Loans from a related party 13,859,800 9,805,524
Deferred gain on sale-leaseback 327,637 695,389
Long-term obligations under capital lease 3,217,785 4,090,413
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $62,775,049 and $64,789,076 as of December 31, 2015 and 2014, respectively) $ 62,817,494 $ 64,822,219
Commitments and Contingencies
Stockholders' Equity    
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 20,316,400 shares issued and outstanding as of December 31, 2015 and 2014 $ 20,316 $ 20,316
Additional paid-in capital 49,218,982 49,218,982
Statutory earnings reserve 6,080,574 6,080,574
Accumulated other comprehensive income 6,343,019 17,021,165
Retained earnings 114,146,534 102,604,329
Total stockholders' equity 175,809,425 174,945,366
Total Liabilities and Stockholders' Equity $ 238,626,919 $ 239,767,585