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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 1,519,666 $ 1,653,260
Accounts receivable, net 4,926,081 7,995,931
Accounts receivable-related parties, net 8,733,263 9,545,453
Advances to suppliers 1,064,901 504,002
Inventories, net 302,938 693,677
Loan receivable 2,180,655
Loan receivable - related party 397,041
Other current assets 2,087,946 6,304,722
TOTAL CURRENT ASSETS 19,031,836 28,877,700
Non-current accounts receivable, net 1,648,109 1,078,777
Non-current accounts receivable-related parties, net 3,793,949
Property, plant and equipment, net 11,835,516 11,599,416
Intangible assets, net 1,496 59,921
Other assets, non-current 4,304,640
TOTAL ASSETS 40,615,546 41,615,814
CURRENT LIABILITIES    
Short-term bank loans 6,584,664 6,082,574
Accounts payable 12,586,696 11,700,763
Accounts payable-related parties 65,276 66,135
Advances from customers 421,700 304,021
Advances from customers-related parties 140,938 51,183
Amounts due to related parties 129,139 1,005,307
Accrued payroll and benefits 193,912 243,976
Other payables and accrued expenses 4,897,672 4,247,391
Income tax payable 70,653 310,537
Convertible note payable, net of debt discounts 916,511
TOTAL CURRENT LIABILITIES 26,007,161 24,011,887
EQUITY    
Ordinary shares, 2019 and 2018: par $0; authorized capital 100,000,000 shares; shares issued and outstanding, 2019: 42,000,163 shares; 2018: 41,760,163 shares; 126,257,156 126,146,996
Additional paid-in capital 16,461,333 15,782,904
Reserve 14,044,269 14,044,269
Accumulated deficit (174,517,769) (170,935,437)
Accumulated other comprehensive income 23,022,845 23,218,159
Total equity of the Company 5,267,834 8,256,891
Non-controlling interest 9,340,551 9,347,036
TOTAL EQUITY 14,608,385 17,603,927
TOTAL LIABILITIES AND EQUITY $ 40,615,546 $ 41,615,814