Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

v2.4.0.8
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUE        
Revenue $ 54,416,793 $ 20,576,492 $ 176,909,177 $ 51,302,671
Revenue - related party 0 32,615 0 10,338,269
Total Revenue 54,416,793 20,609,107 176,909,177 61,640,940
COST OF REVENUE        
Cost of revenue 38,932,806 12,956,478 118,388,729 32,909,027
Cost of revenue - related party 0 20,413 0 6,470,581
Total Cost of Revenue 38,932,806 12,976,891 118,388,729 39,379,608
GROSS PROFIT 15,483,987 7,632,216 58,520,448 22,261,332
OPERATING EXPENSES:        
Selling 675,442 362,000 1,914,815 730,734
General and administrative 828,530 1,178,033 2,407,370 2,345,569
Total Operating Expenses 1,503,972 1,540,033 4,322,185 3,076,303
INCOME FROM OPERATIONS 13,980,015 6,092,183 54,198,263 19,185,029
OTHER INCOME (EXPENSE):        
Interest income 4,845 2,305 14,016 4,861
Interest expense (679,484) (1,414,015) (3,088,685) (2,123,800)
Foreign currency transaction gain (loss) 171,058 194,433 (286,576) (25,972)
Grant income 716,121 168,900 1,240,542 204,492
Investment income 2,399 218 348,382 69,289
Other (expense) income (424) 7 (335) 2,021
Total Other Income (Expense), net 214,515 (1,048,152) (1,772,656) (1,869,109)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 14,194,530 5,044,031 52,425,607 17,315,920
INCOME TAXES 0 0 0 0
NET INCOME FROM CONTINUING OPERATIONS 14,194,530 5,044,031 52,425,607 17,315,920
NET INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAX 0 12,362,523 0 39,461,777
NET INCOME 14,194,530 17,406,554 52,425,607 56,777,697
COMPREHENSIVE INCOME:        
NET INCOME 14,194,530 17,406,554 52,425,607 56,777,697
OTHER COMPREHENSIVE INCOME Foreign currency translation gain (loss) 302,391 796,724 (690,948) 6,551,401
TOTAL COMPREHENSIVE INCOME $ 14,496,921 $ 18,203,278 $ 51,734,659 $ 63,329,098
BASIC AND DILUTED EARNINGS PER SHARE        
Net income (in dollars per share) $ 0.18 $ 0.22 $ 0.66 $ 0.72
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:        
Basic and diluted (in shares) 79,055,053 79,055,053 79,055,053 78,641,031
Continuing Operations [Member]
       
BASIC AND DILUTED EARNINGS PER SHARE        
Net income (in dollars per share) $ 0.18 $ 0.06 $ 0.66 $ 0.22
Discontinued Operations [Member]
       
BASIC AND DILUTED EARNINGS PER SHARE        
Net income (in dollars per share) $ 0.00 $ 0.16 $ 0.00 $ 0.50