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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets    
Cash and bank balances $ 4,805,861 $ 8,474,809
Restricted cash 3,642,616
Accounts receivable (net of allowance for doubtful accounts of $56,638 and $58,707 as of September 30, 2019 and December 2018, respectively) 2,775,304 2,876,632
Inventories 7,010,419 2,923,516
Prepayments and other current assets 5,982,730 6,241,299
Total current assets 20,574,314 24,158,872
Property, plant, and equipment, net 153,108,508 167,829,716
Value-added tax recoverable 2,620,515 2,810,331
Deferred tax asset non-current 9,827,679 8,277,091
Other non-current assets 45,273,629
Total Assets 231,404,645 203,076,010
Current Liabilities    
Short-term bank loans 6,362,312 11,802,075
Current portion of long-term loans from credit union 311,046 2,491,549
Accounts payable 857,218 629,054
Advance from customers 83,315
Notes payable 3,642,616
Due to related parties 766,544 413,336
Accrued payroll and employee benefits 239,501 213,536
Other payables and accrued liabilities 51,062,036 10,222,796
Income taxes payable 1,332,680 219,305
Total current liabilities 61,014,652 29,634,267
Loans from credit union 6,701,636 4,706,259
Loans from a related party 2,120,771 2,185,569
Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $67,168,878 and $34,008,908 as of September 30, 2019 and December 31, 2018, respectively) 69,837,059 36,526,095
Commitments and Contingencies
Stockholders' Equity    
Common stock, 500,000,000 shares authorized, $0.001 par value per share, 22,054,816 shares issued 22,684 22,360
Additional paid-in capital 51,154,544 51,137,319
Statutory earnings reserve 6,080,574 6,080,574
Accumulated other comprehensive loss (8,329,334) (3,263,952)
Retained earnings 112,639,118 112,573,614
Total stockholders' equity 161,567,586 166,549,915
Total Liabilities and Stockholders' Equity $ 231,404,645 $ 203,076,010