Quarterly report pursuant to sections 13 or 15(d)

CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Details)

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CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Details) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Assets    
Prepaid expenses $ 4,932,497 $ 410,966 [1]
Total assets 355,359,127 484,009,837 [1]
Liabilities and equity    
Accrued liabilities and other payables 3,684,872 1,033,784 [1]
Liabilities for discontinued operations 181,463,364 14,052,751 [1]
Total current liabilities 221,546,326 67,021,530 [1]
Total liabilities 279,977,699 83,710,851 [1]
Shareholders' equity    
Total shareholders' equity 75,381,428 400,298,986 [1],[2]
Total liabilities and equity 355,359,127 484,009,837 [1]
Parent [Member]
   
Assets    
Prepaid expenses 24,000 0
Investments in subsidiaries 232,629,624 400,298,968
Total assets 232,653,624 400,298,968
Liabilities and equity    
Accrued liabilities and other payables 222,059 0
Advance from related parties 115,472 0
Liabilities for discontinued operations 156,934,665 0
Total current liabilities 157,272,196 0
Total liabilities 157,272,196 0
Shareholders' equity    
Total shareholders' equity 75,381,428 400,298,968
Total liabilities and equity $ 232,653,624 $ 400,298,968
[1] Represents the consolidation retrospectively restated as if Pingtan Marine Enterprise Ltd. (formerly known as China Growth Equity Investment Limited) 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. Assets and liabilities of discontinued operations are retrospectively restated as of December 31, 2012 after taking into account of the Group’s plan to sell China Dredging Group Co., Ltd. and its subsidiaries to the Company’s Chairman, CEO and major shareholder, Mr Xinrong Zhuo.
[2] 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.