Quarterly report pursuant to sections 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)

v2.4.0.8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Jun. 30, 2012
Dec. 31, 2011
ASSETS        
Cash $ 20,806,414 $ 175,488,715 [1] $ 158,635,749 [1] $ 114,204,340 [1]
Notes receivable (banker's acceptances) transferred from related parties 0 3,645,817 [1]    
Accounts receivable - third parties 18,603,522 34,924,685 [1]    
Cost and estimated earnings in excess of billings on contracts in progress 8,341,705 8,133,021 [1]    
Other receivables 10,661,783 34,074 [1]    
Advance to related parties 0 49,802,821 [1]    
Prepaid expenses 24,000 410,966 [1]    
Inventories 7,344,328 5,223,984 [1]    
Prepaid dredger deposits 23,625,640 23,274,105 [1]    
Prepaid fishing vessel deposits 410,017,680 0 [1]    
Security deposits 18,607,228 25,087,880 [1]    
Long-term investment 3,421,644 3,328,789 [1]    
Deposit on setting up of Joint Venture 0 6,090,302 [1]    
Property, Plant and Equipment, Net 93,958,771 81,707,388 [1]    
Total assets 683,275,328 484,009,837 [1]    
LIABILITIES        
Short-term loans 20,144,510 25,169,260 [1]    
Long-term loans 11,381,041 8,094,308 [1]    
Accounts payable - third parties 8,875,293 3,761,149 [1]    
Accounts payable - related parties 0 5,765,632 [1]    
Advance from related parties 200,579,327 0    
Income tax payable 5,395,826 5,333,519 [1]    
Accrued liabilities and other payables 13,046,446 3,738,134 [1]    
Deferred income 9,522,925 0 [1]    
Total Current Liabilities 71,299,458 67,021,530 [1]    
Wonder Dredging [Member]
       
ASSETS        
Cash 6,992 7,232 951,263 957,786
Notes receivable (banker's acceptances) transferred from related parties   0    
Accounts receivable - third parties 0 0    
Cost and estimated earnings in excess of billings on contracts in progress 0 0    
Other receivables 0 0    
Advance to related parties 0 0    
Prepaid expenses   0    
Inventories 0 0    
Prepaid dredger deposits 0 0    
Prepaid fishing vessel deposits 0      
Security deposits 0 0    
Long-term investment 0 0    
Deposit on setting up of Joint Venture   0    
Property, Plant and Equipment, Net 0 0    
Total assets 6,992 7,232    
LIABILITIES        
Short-term loans 0 0    
Long-term loans 0 0    
Accounts payable - third parties 0 0    
Accounts payable - related parties   0    
Advance from related parties 4,888,063      
Receipt in advance - third parties 0      
Receipt in advance - related parties   0    
Income tax payable 0 0    
Accrued liabilities and other payables 0 0    
Deferred income 0      
Total Current Liabilities 4,888,063 0    
Fujian Service [Member]
       
ASSETS        
Cash 16,879,547 164,323,611 156,871,359 110,535,418
Notes receivable (banker's acceptances) transferred from related parties   0    
Accounts receivable - third parties 14,297,260 23,446,249    
Cost and estimated earnings in excess of billings on contracts in progress 8,341,705 8,133,021    
Other receivables 2,919 2,868    
Advance to related parties 0 0    
Prepaid expenses   0    
Inventories 5,104,738 5,029,653    
Prepaid dredger deposits 2,444,032 2,407,666    
Prepaid fishing vessel deposits 0      
Security deposits 18,607,228 25,087,880    
Long-term investment 0 0    
Deposit on setting up of Joint Venture   0    
Property, Plant and Equipment, Net 41,812,940 44,479,511    
Total assets 107,490,369 272,910,459    
LIABILITIES        
Short-term loans 0 0    
Long-term loans 0 0    
Accounts payable - third parties 3,505,737 3,690,417    
Accounts payable - related parties   0    
Advance from related parties 0      
Receipt in advance - third parties 0      
Receipt in advance - related parties   0    
Income tax payable 5,062,545 5,333,519    
Accrued liabilities and other payables 2,202,403 2,257,638    
Deferred income 0      
Total Current Liabilities 10,770,685 11,281,574    
Pingtan Fishing Group [Member]
       
ASSETS        
Cash 455,104 6,710,472 214,278 1,794,796
Notes receivable (banker's acceptances) transferred from related parties   3,645,817    
Accounts receivable - third parties 4,306,262 11,478,436    
Cost and estimated earnings in excess of billings on contracts in progress 0 0    
Other receivables 7,659,717 29,885    
Advance to related parties 8,226 49,802,897    
Prepaid expenses   386,966    
Inventories 2,239,590 194,331    
Prepaid dredger deposits 0 0    
Prepaid fishing vessel deposits 410,017,680      
Security deposits 0 0    
Long-term investment 3,421,644 3,328,789    
Deposit on setting up of Joint Venture   6,092,302    
Property, Plant and Equipment, Net 51,573,980 37,141,906    
Total assets 479,682,203 118,811,801    
LIABILITIES        
Short-term loans 20,144,510 25,169,260    
Long-term loans 23,576,759 24,783,629    
Accounts payable - third parties 2,703,021 70,732    
Accounts payable - related parties   5,765,632    
Advance from related parties 155,388,195      
Receipt in advance - third parties 360,726      
Receipt in advance - related parties   12,681,102    
Income tax payable 0 0    
Accrued liabilities and other payables 10,120,061 1,033,640    
Deferred income 9,522,925      
Total Current Liabilities $ 221,816,197 $ 69,503,995    
[1] Represents the consolidation retrospectively restated as if Pingtan Marine Enterprise Ltd. (formerly known as China Growth Equity Investment Ltd.) completed its merger with China Dredging Group Co., Ltd. and the share purchase of Merchant Supreme Co., Ltd. on January 1, 2012 rather than on February 25, 2013.