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Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current Assets    
Cash and bank balances $ 8,474,809 $ 2,895,790
Restricted cash 3,642,616 6,121,637
Accounts receivable (net of allowance for doubtful accounts of $58,707 and $37,626 as of December 31, 2018 and December 2017, respectively) 2,876,632 1,843,682
Inventories 2,923,516 8,474,165
Prepayments and other current assets 6,241,299 651,523
Total current assets 24,158,872 19,986,797
Property, plant, and equipment, net 167,829,716 189,388,709
Value-added tax recoverable 2,810,331 3,041,416
Deferred tax asset non-current 8,277,091 6,572,559
Total Assets 203,076,010 218,989,481
Current Liabilities    
Short-term bank loans 11,802,075 7,192,923
Current portion of long-term loans from credit union 2,491,549 6,366,502
Accounts payable 629,054 422,705
Notes payable 3,642,616 6,121,637
Due to related parties 413,336 60,378
Accrued payroll and employee benefits 213,536 231,247
Other payables and accrued liabilities 10,222,796 836,337
Income taxes payable 219,305 525,804
Total current liabilities 29,634,267 21,757,533
Loans from credit union 4,706,259 1,193,719
Loans from a related party 2,185,569 10,712,865
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $34,008,908 and $31,235,520 as of December 31, 2018 and 2017, respectively) 36,526,095 33,664,117
Commitments and Contingencies
Stockholders' Equity    
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 20,022,316 and 21,450,316 shares issued and outstanding as of December 31, 2018 and 2017, respectively 22,360 21,450
Additional paid-in capital 51,137,319 50,635,243
Statutory earnings reserve 6,080,574 6,080,574
Accumulated other comprehensive (loss) income (3,263,952) 5,468,799
Retained earnings 112,573,614 123,119,298
Total stockholders' equity 166,549,915 185,325,364
Total Liabilities and Stockholders' Equity $ 203,076,010 $ 218,989,481