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 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Statements of Income and Comprehensive Income [Abstract]        
REVENUE $ 35,695,881 $ 2,104,351 $ 41,357,021 $ 6,219,449
COST OF REVENUE 24,576,296 5,145,118 30,174,103 12,572,928
GROSS PROFIT (LOSS) 11,119,585 (3,040,767) 11,182,918 (6,353,479)
OPERATING EXPENSES:        
Selling 178,575 71,199 567,293 414,219
General and administrative 1,259,793 910,813 2,347,665 2,378,284
Total Operating Expenses 1,438,368 982,012 2,914,958 2,792,503
INCOME (LOSS) FROM OPERATIONS 9,681,217 (4,022,779) 8,267,960 (9,145,982)
OTHER INCOME (EXPENSE):        
Interest income 4,043 902 151,426 3,269
Interest expense (648,333) (395,859) (1,351,409) (918,124)
Foreign currency transaction gain (loss) 446,431 (477,077) 544,882 (456,280)
Grant income 30,365 96 12,749,640 154,543
Gain from cost method investment 314,818 381,537 314,818 381,537
Loss on equity method investment (13,915) (7,811) (20,167) (18,127)
Other expense (3,812) (153) (3,812) (417)
Total Other Income (Expense), net 129,597 (498,365) 12,385,378 (853,599)
INCOME (LOSS) BEFORE INCOME TAXES 9,810,814 (4,521,144) 20,653,338 (9,999,581)
INCOME TAXES 587 1,000
NET INCOME (LOSS) 9,810,814 (4,521,731) 20,653,338 (10,000,581)
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 853,403 (296,844) 1,775,773 (675,315)
NET INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY 8,957,411 (4,224,887) 18,877,565 (9,325,266)
COMPREHENSIVE INCOME (LOSS):        
NET INCOME (LOSS) 9,810,814 (4,521,731) 20,653,338 (10,000,581)
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) 2,041,844 (4,255,671) 2,682,892 (3,376,248)
COMPREHENSIVE INCOME (LOSS) 11,852,658 (8,777,402) 23,336,230 (13,376,829)
LESS: COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 1,014,545 (633,494) 1,987,571 (942,942)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY $ 10,838,113 $ (8,143,908) $ 21,348,659 $ (12,433,887)
NET INCOME (LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY        
Basic and diluted $ 0.11 $ (0.05) $ 0.24 $ (0.12)
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:        
Basic and diluted 79,055,053 79,055,053 79,055,053 79,055,053