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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 4,648,049 $ 2,332,646
Restricted cash 5,797,690 2,162,318
Accounts receivable (net of allowance for doubtful accounts of $63,851 and $79,478 as of March 31, 2017 and December 31, 2016, respectively) 3,128,701 3,894,436
Inventories 8,013,848 5,632,030
Prepayments and other current assets 4,405,992 455,892
Total current assets 25,994,280 14,477,322
Property, plant, and equipment, net 190,125,081 187,689,880
Value-added tax recoverable 2,941,358 2,945,575
Deferred tax asset non-current 3,859,010 3,264,841
Total Assets 222,919,729 208,377,618
Current Liabilities    
Short-term bank loans 14,929,051 5,045,409
Current obligations under capital lease 8,771,127 8,786,528
Accounts payable 494,035 559,952
Advance from customers 28,831
Notes payable 5,797,690 2,162,318
Due to a related party 93,418 56,872
Accrued payroll and employee benefits 337,865 209,936
Other payables and accrued liabilities 1,035,967 2,424,778
Income taxes payable 973,618 1,310,967
Total current liabilities 32,432,771 20,585,591
Loans from credit union 4,870,059 4,843,592
Loans from a related party 10,145,957 10,090,817
Deferred gain on sale-leaseback 51,395 102,232
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $47,495,505 and $35,618,995 as of March 31, 2017 and December 31, 2016, respectively) 47,500,182 35,622,232
Commitments and Contingencies
Stockholders' Equity    
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 21,450,316 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 21,450 21,450
Additional paid-in capital 50,635,243 50,635,243
Statutory earnings reserve 6,080,574 6,080,574
Accumulated other comprehensive income (4,485,099) (5,441,391)
Retained earnings 123,167,379 121,459,510
Total stockholders' equity 175,419,547 172,755,386
Total Liabilities and Stockholders' Equity $ 222,919,729 $ 208,377,618