Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash $ 9,520,325 $ 2,005,540
Restricted cash 1,821,187
Accounts receivable, net of allowance for doubtful accounts 5,876,688 13,012,671
Inventories, net of reserve for inventories 8,758,299 3,560,261
Prepaid expenses 2,928,564 110,536
Other receivables 676,228 273,151
Total Current Assets 27,760,104 20,783,346
OTHER ASSETS:    
Cost method investment 3,052,681 3,213,859
Equity method investment 28,875,594 30,521,466
Prepayment for long-term assets 11,577,057
Property, plant and equipment, net 186,682,836 135,042,467
Total Other Assets 218,611,111 180,354,849
Total Assets 246,371,215 201,138,195
CURRENT LIABILITIES:    
Accounts payable 40,233,469 4,301,146
Accounts payable - related parties 2,355,353 1,803,698
Short-term bank loans 14,600,978
Long-term bank loans - current portion 7,486,336 5,968,596
Accrued liabilities and other payables 4,195,792 5,354,616
Due to related parties 11,165,392 4,386,901
Total Current Liabilities 65,436,342 36,415,935
OTHER LIABILITIES:    
Long-term bank loans - non-current portion 26,093,150 17,217,104
Total Liabilities 91,529,492 53,633,039
COMMITMENTS AND CONTINGENCIES
Equity attributable to owners of the company:    
Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 79,055,053 shares issued and outstanding at September 30, 2018 and December 31, 2017) 79,055 79,055
Additional paid-in capital 81,682,599 81,682,599
Retained earnings 54,398,379 40,349,189
Statutory reserve 12,978,343 12,978,343
Accumulated other comprehensive loss (13,412,643) (5,731,889)
Total equity attributable to owners of the company 135,725,733 129,357,297
Non-controlling interest 19,115,990 18,147,859
Total Shareholders' Equity 154,841,723 147,505,156
Total Liabilities and Shareholders' Equity $ 246,371,215 $ 201,138,195