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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 6,505,284 $ 2,332,646
Restricted cash 6,026,910 2,162,318
Accounts receivable (net of allowance for doubtful accounts of $2,672 and $79,478 as of September 30, 2017 and December 31, 2016, respectively) 130,928 3,894,436
Inventories 9,603,313 5,632,030
Prepayments and other current assets 55,899 455,892
Total current assets 22,322,334 14,477,322
Property, plant, and equipment, net 190,744,883 187,689,880
Value-added tax recoverable 3,015,460 2,945,575
Deferred tax asset non-current 5,494,443 3,264,841
Total Assets 221,577,120 208,377,618
Current Liabilities    
Short-term bank loans 10,245,747 5,045,409
Current portion of long-term loans from credit union 3,857,222
Current obligations under capital lease 8,786,528
Accounts payable 11,020 559,952
Advance from customers 28,831
Notes payable 6,026,910 2,162,318
Due to a related party 21,775 56,872
Accrued payroll and employee benefits 342,492 209,936
Other payables and accrued liabilities 1,561,476 2,424,778
Income taxes payable 1,260,633 1,310,967
Total current liabilities 23,327,275 20,585,591
Loans from credit union 3,616,146 4,843,592
Loans from a related party 10,547,093 10,090,817
Deferred gain on sale-leaseback 102,232
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $35,075,274 and $35,618,995 as of September 30, 2017 and December 31, 2016, respectively) 37,490,514 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 September 30, 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 2,593,708 (5,441,391)
Retained earnings 124,755,631 121,459,510
Total stockholders' equity 184,086,606 172,755,386
Total Liabilities and Stockholders' Equity $ 221,577,120 $ 208,377,618