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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities:    
Net income $ 2,221,182 $ (10,545,684)
Depreciation and amortization 15,304,039 14,290,919
Allowances for obsolete inventories, net 75,719
Loss from disposal and impairment of property, plant and equipment 3,904,342
(Recovery from) for bad debts 2,192 23,676
Share-based compensation expenses 470,361
Deferred tax (2,369,683) (2,089,439)
Accounts receivable (294,882) (1,183,782)
Prepayments and other current assets (5,392,916) (5,726,546)
Inventories 1,207,958 5,322,320
Accounts payable (372,728) 234,448
Advance from customers 99,472
Notes payable (3,625,921) (2,261,147)
Related parties (1,757,231) 150,743
Accrued payroll and employee benefits 82,813 (6,855)
Other payables and accrued liabilities 1,169,967 6,878,137
Income taxes payable 1,180,493 (291,119)
Net Cash Provided by Operating Activities 7,530,474 9,170,374
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (6,416,481) (2,198,852)
Acquisition of a subsidiary (1,450,368)
Net Cash Used in Investing Activities (7,866,849) (2,198,852)
Cash Flows from Financing Activities:    
Proceeds from related party loans 4,522,295
Repayments of related party loans (2,175,553) (12,813,169)
Proceeds from short term bank loans 10,152,579 12,210,196
Proceeds from credit union loans 4,206,068 5,064,970
Repayment of bank loans (17,955,561) (12,149,899)
Net Cash Used in Financing Activities (5,772,467) (3,165,607)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (170,838) (705,917)
Net (Decrease) Increase in Cash and Cash Equivalents (6,279,680) 3,099,998
Cash, Cash Equivalents and Restricted Cash - Beginning of Year 12,117,425 9,017,427
Cash, Cash Equivalents and Restricted Cash - End of Year 5,837,745 12,117,425
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest, net of capitalized interest cost 926,368 1,393,759
Cash paid for income taxes 2,250,546 515,001
Cash and bank balances 5,837,745 8,474,809
Restricted cash 3,642,616
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 5,837,745 $ 12,117,425