Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive (Loss) Income

v3.6.0.2
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Statements of Income and Comprehensive Income [Abstract]      
REVENUE $ 20,540,769 $ 60,700,190 $ 233,427,011
COST OF REVENUE 29,328,776 63,476,627 155,840,823
GROSS (LOSS) PROFIT (8,788,007) (2,776,437) 77,586,188
OPERATING EXPENSES:      
Selling 1,235,497 1,858,687 2,673,213
General and administrative 3,969,465 2,933,588 4,537,351
Total Operating Expenses 5,204,962 4,792,275 7,210,564
(LOSS) INCOME FROM OPERATIONS (13,992,969) (7,568,712) 70,375,624
OTHER INCOME (EXPENSE):      
Interest income 1,931,963 103,668 16,772
Interest expense (1,972,267) (3,630,200) (4,815,670)
Foreign currency transaction loss (1,543,357) (1,308,922) (258,248)
Grant income 558,451 33,152,698 20,094,039
Gain from cost method investment 375,396 413,614 348,523
Loss on equity method investment (33,073) (19,700)
Loss on fixed assets disposal (1,583,834)
Other expense (471) (210) (335)
Total Other (Expense) Income, net (683,358) 27,127,114 15,385,081
(LOSS) INCOME BEFORE INCOME TAXES (14,676,327) 19,558,402 85,760,705
INCOME TAXES 984
NET (LOSS) INCOME (14,677,311) 19,558,402 85,760,705
LESS: NET (LOSS) INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST (959,688) 1,205,485
NET (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY (13,717,623) 18,352,917 85,760,705
COMPREHENSIVE (LOSS) INCOME:      
NET (LOSS) INCOME (14,677,311) 19,558,402 85,760,705
OTHER COMPREHENSIVE LOSS      
Unrealized foreign currency translation loss (9,288,056) (8,628,162) (552,656)
COMPREHENSIVE (LOSS) INCOME (23,965,367) 10,930,240 85,208,049
LESS: COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST (1,695,044) 658,092
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY $ (22,270,323) $ 10,272,148 $ 85,208,049
NET (LOSS) INCOME PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPNAY      
Basic and diluted $ (0.17) $ 0.23 $ 1.08
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:      
Basic and diluted 79,055,053 79,055,053 79,055,053