Quarterly report pursuant to Section 13 or 15(d)

Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.7.0.1
Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Statements of Income and Comprehensive Income [Abstract]    
REVENUE $ 5,661,140 $ 4,115,098
COST OF REVENUE 5,597,807 7,427,810
GROSS PROFIT (LOSS) 63,333 (3,312,712)
OPERATING EXPENSES:    
Selling 388,718 343,020
General and administrative 1,087,872 1,467,471
Total Operating Expenses 1,476,590 1,810,491
LOSS FROM OPERATIONS (1,413,257) (5,123,203)
OTHER INCOME (EXPENSE):    
Interest income 147,383 2,367
Interest expense (703,076) (522,265)
Foreign currency transaction gain 98,451 20,797
Grant income 12,719,275 154,447
Loss on equity method investment (6,252) (10,316)
Other expense (264)
Total Other Income (Expense), net 12,255,781 (355,234)
INCOME (LOSS) BEFORE INCOME TAXES 10,842,524 (5,478,437)
INCOME TAXES 413
NET INCOME (LOSS) 10,842,524 (5,478,850)
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 922,370 (378,471)
NET INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY 9,920,154 (5,100,379)
COMPREHENSIVE INCOME (LOSS):    
NET INCOME (LOSS) 10,842,524 (5,478,850)
OTHER COMPREHENSIVE GAIN    
Unrealized foreign currency translation gain 641,048 879,423
COMPREHENSIVE INCOME (LOSS) 11,483,572 (4,599,427)
LESS: COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 973,026 (309,448)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY $ 10,510,546 $ (4,289,979)
NET INCOME (LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPNAY    
Basic and diluted $ 0.13 $ (0.06)
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:    
Basic and diluted 79,055,053 79,055,053