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Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 2,332,646 $ 2,641,917
Restricted cash 2,162,318 10,779,845
Accounts receivable (net of allowance for doubtful accounts of $79,478 and $38,865 as of December 31, 2016 and December 31, 2015, respectively) 3,894,436 1,904,396
Inventories 5,632,030 9,205,420
Prepayments and other current assets 455,892 1,812,415
Total current assets 14,477,322 26,343,993
Prepayment on property, plant and equipment 1,404,460
Property, plant, and equipment, net 187,689,880 206,191,158
Value-added tax recoverable 2,945,575 3,266,454
Deferred tax asset non-current 3,264,841 1,420,854
Total Assets 208,377,618 238,626,919
Current Liabilities    
Short-term bank loans 5,045,409 13,859,800
Current obligations under capital lease 8,786,528 6,860,412
Accounts payable 559,952 253,425
Advance from customers 28,831
Notes payable 2,162,318 13,859,800
Due to a related party 56,872 368,751
Accrued payroll and employee benefits 209,936 531,912
Other payables and accrued liabilities 2,424,778 3,902,971
Income taxes payable 1,310,967 600,876
Total current liabilities 20,585,591 40,237,947
Loans from credit union 4,843,592 5,174,325
Loans from a related party 10,090,817 13,859,800
Deferred gain on sale-leaseback 102,232 327,637
Long-term obligations under capital lease 3,217,785
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $35,590,164 and $62,775,049 as of December 31, 2016 and 2015, respectively) 35,622,232 62,817,494
Commitments and Contingencies
Stockholders' Equity    
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 21,450,316 and 20,316,400 shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively 21,450 20,316
Additional paid-in capital 50,635,243 49,218,982
Statutory earnings reserve 6,080,574 6,080,574
Accumulated other comprehensive income (loss) (5,441,391) 6,343,019
Retained earnings 121,459,510 114,146,534
Total stockholders' equity 172,755,386 175,809,425
Total Liabilities and Stockholders' Equity $ 208,377,618 $ 238,626,919