Quarterly report pursuant to Section 13 or 15(d)

Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income

v3.10.0.1
Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Statements of Income and Comprehensive Income [Abstract]        
REVENUE $ 14,685,465 $ 5,462,792 $ 39,175,903 $ 46,819,813
COST OF REVENUE 5,300,829 5,549,796 17,235,179 33,360,356
GROSS PROFIT (LOSS) 9,384,636 (87,004) 21,940,724 13,459,457
OPERATING EXPENSES:        
Selling 319,919 194,202 1,181,720 761,495
General and administrative 774,693 977,603 3,855,961 3,325,268
General and administrative - depreciation 1,378,056 1,219,006 4,423,289 3,582,549
Grant income (7,477,736) (9,274,101) (8,529,848) (22,023,741)
(Gain) loss on fixed assets disposal (49,626) 190,162 2,129,124 187,709
Total Operating Expenses (5,054,694) (6,693,128) 3,060,246 (14,166,720)
INCOME FROM OPERATIONS 14,439,330 6,606,124 18,880,478 27,626,177
OTHER INCOME (EXPENSE):        
Interest income 4,552 20,617 39,084 172,043
Interest expense (261,974) (490,383) (919,542) (1,841,792)
Foreign currency transaction (loss) gain (373,237) 396,852 (207,022) 941,734
(Loss) gain from cost method investment (9,052) 318,125 388,368 318,125
Loss on equity method investment (60,422) (322,151) (121,537) (27,500)
Other expense (2,312) (66) (2,997) (6,331)
Total Other Expense, net (702,445) (77,006) (823,646) (443,721)
INCOME BEFORE INCOME TAXES 13,736,885 6,529,118 18,056,832 27,182,456
INCOME TAXES
NET INCOME 13,736,885 6,529,118 18,056,832 27,182,456
LESS: NET INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 1,133,820 576,194 1,635,990 2,351,967
NET INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY 12,603,065 5,952,924 16,420,842 24,830,489
COMPREHENSIVE INCOME:        
NET INCOME 13,736,885 6,529,118 18,056,832 27,182,456
OTHER COMPREHENSIVE (LOSS) INCOME        
Unrealized foreign currency translation (loss) gain (6,297,631) 2,138,127 (8,348,613) 4,821,019
COMPREHENSIVE INCOME 7,439,254 8,667,245 9,708,219 32,003,475
LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 630,060 744,763 968,131 2,732,334
COMPREHENSIVE INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY $ 6,809,194 $ 7,922,482 $ 8,740,088 $ 29,271,141
NET INCOME PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY        
Basic and diluted $ 0.16 $ 0.08 $ 0.21 $ 0.31
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:        
Basic and diluted 79,055,053 79,055,053 79,055,053 79,055,053