XML 28 R11.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Property, Plant and Equipment, Net | 9 Months Ended
--- | ---
Sep. 30, 2018
Property, Plant and Equipment, Net [Abstract] |
Property, plant and equipment, net | (6) Property, plant and equipment, net As of September 30, 2018 and December 31, 2017, property, plant and equipment consisted of the following:
|  | September 30, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
Property, Plant, and Equipment: |  |  |  |  |  |
Land use rights |  | $ | 11,853,936 |  |  | $ | 12,479,814 |
Building and improvements |  |  | 93,908,421 |  |  |  | 98,866,703 |
Machinery and equipment |  |  | 112,865,579 |  |  |  | 118,670,578 |
Vehicles |  |  | 596,094 |  |  |  | 593,265 |
Construction in progress |  |  | 35,796,450 |  |  |  | 36,077,498 |
Totals |  |  | 255,020,480 |  |  |  | 266,687,858 |
Less: accumulated depreciation and amortization |  |  | (83,751,196 | ) |  |  | (77,299,149 | )
Property, Plant and Equipment, net |  | $ | 171,269,284 |  |  | $ | 189,388,709 |
As of September 30, 2018 and December 31, 2017, land use rights represented two parcel of state-owned lands located in Xushui District of Hebei Province in China, with lease terms of 50 years expiring from 2061 to 2066. Construction in progress mainly represents payments for the new 15,000 tonnes per year tissue paper manufacturing equipment PM8, the tissue paper workshops and general infrastructure and administrative facilities in the Wei County Industrial Park. The tissue paper development project at the Wei County Industrial Park is expected to be completed in the fourth quarter of 2018. For the three months ended September 30, 2018 and 2017, the amount of interest capitalized are $nil. For the nine months ended September 30, 2018 and 2017, the amount of interest capitalized is $nil and $9,761, respectively. As of September 30, 2018 and December 31, 2017, certain property, plant and equipment of Dongfang Paper with net values of $6,214,258 and $7,963,285, respectively, have been pledged pursuant to a long-term loan from credit union of Dongfang Paper. Land use right of Dongfang Paper with net values of $6,011,133 and $6,437,419 as of September 30, 2018 and December 31, 2017 were pledged for the bank loan from Bank of Industrial & Commercial Bank of China. In addition, plant and equipment of Baoding Shengde with net values of $13,311,236 and $nil as of September 30, 2018 and December 31, 2017, respectively, and another land use right with net value of $4,734,031 and $nil as of September 30, 2018 and December 31, 2017 were pledged for the bank loan from Bank of Cangzhou. See ” Short-term bank loans ” under Note (7), Loans Payable, for details of the transaction and asset collaterals. Depreciation and amortization of property, plant and equipment was $3,462,703 and $3,729,002 for the three months ended September 30, 2018 and 2017, respectively. Depreciation and amortization of property, plant and equipment was $10,873,536 and $10,928,502 for the nine months ended September 30, 2018 and 2017, respectively.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration