Annual report pursuant to Section 13 and 15(d)

ADVANCES TO/FROM RELATED PARTIES (Tables)

v2.4.0.8
ADVANCES TO/FROM RELATED PARTIES (Tables)
12 Months Ended
Dec. 31, 2013
Schedule Of Names and Relationship Of Related Parties [Table Text Block]
Advances to/from related parties as of December 31, 2013 and 2012 consisted of the following:
 
(a)  Name and relationship of related parties
 
Name of related party
Relationship
Xinrong Zhuo
CEO, Director and major shareholder of the Company, a Family Member*
Ping Lin
Spouse of Xinrong Zhuo, a Family Member and shareholder of Hong Long
Panxing Zhuo
Father of Xinrong Zhuo, a Family Member
Honghong Zhuo
Shareholder of Pingtan Fishing,daughter of Xinrong Zhuo and a Family Member
Qing Lin
Brother-in-law of Xinrong Zhuo, a Family Member
Longfei Zhuo
Cousin of Xinrong Zhuo
Sunqiang Zhou
Brother-in-law of Xinrong Zhuo, a Family Member
Cheng Chen
Cousin of Xinrong Zhuo, a Family Member and shareholder of Hong Long
Xiaojie Wu
Brother-in-law of Xinrong Zhuo
XiaoqinXu
An employee of an affiliate company
Xiaomei Yang
An employee of the Company and niece of Xinrong Zhuo
Xiaofang Zhuo
Cousin of Xinrong Zhuo
Longhua Zhuo
Sister of Xinrong Zhuo
Zhiyan Lin
Shareholder and legal representative of Pingtan Fishing, a Family Member
Fujian Yihai Investment Co., Ltd.
An affiliate company majority owned by Longjie Zhuo, sibling of Xinrong Zhuo
Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.
An affiliate company owned by Longfei Zhuo and Honghong Zhuo
Fujian Lutong Highway Engineering Construction Co., Ltd.
An affiliate company majority owned by Xiaojie Wu, brother-in-law of Xinrong Zhuo
Fujian Haiyi International Shipping Agency Co., Ltd.
An affiliate company to which the Company acted as a trustee equity owner. Haiyi International is ultimately majority owned and controlled by Sunqiang Zhou
Fujian Xinnong Ocean Fisheries Development Co., Ltd.
An affiliate company to which the Company acted as a trustee equity owner. Xinnong is ultimately owned and controlled by Xiaojie Wu
Fuzhou Haoyouli Fisheries Development Co., Ltd.
An affiliate company to which the Company acted as trustee equity owner. Haoyouli is ultimately owned and controlled by Sunqiang Zhou
Fuzhou Honglong Ocean Fishery Co., Ltd.
An affiliate company majority owned and controlled by Ping Lin
Fujian Province Ocean Fishery Co., Ltd.
An affiliate company majority owned and controlled by Fuzhou Honglong Ocean Fishery Co., Ltd.
PT. Avona Mina Lestari
An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management and fishing vessel service
PT. DwikaryaReksaAbadi
An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management and fishing vessel service
Haifeng Dafu Enterprise Company Limited
An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in the Hong Kong Special Administrative Region of the PRC (“Hong Kong”)
Hai Yi Shipping Limited
An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)
 
 
 
 
China Communication Materials Central and South Co., Ltd.
 
An affiliate company majority-owned by Fujian Lutong Highway Engineering
Fujian International Trading and Transportation Co., Ltd.
 
An affiliate company owned by Yihai Investment and Longhao Zhuo, sibling of Xinrong Zhuo and a Family Member
Fuzhou Dongxing Longju Real Estate Co., Ltd.
 
An affiliate company owned by Xinrong Zhuo
Shenzhen Western Coast Fisherman Pier Co., Ltd.
 
An affiliate company owned by Xinrong Zhuo
Pingtan Heshun Fuel Co., Ltd.
 
An affiliate company under Xinrong Zhuo’s common control
Fuzhou Hairong Trading Co., Ltd.
 
An affiliate company under Xinrong Zhuo’s common control
Hong Fa Shipping Limited
 
An affiliate company ultimately owned by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)
Schedule Of Advances To Related Parties [Table Text Block]
(b) Advances to related parties
 
 
 
 
 
December 31,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Honghong Zhuo
 
$
-
 
$
1,642,203
 
Panxing Zhuo
 
 
-
 
 
6,196,248
 
Qing Lin
 
 
-
 
 
100,855
 
Xiaofang Zhuo
 
 
-
 
 
769,251
 
Xiaomei Yang
 
 
-
 
 
7,598,782
 
China Communication Materials Central and South Co., Ltd
 
 
-
 
 
6,895,349
 
Fujian Haiyi International Shipping Agency Co., Ltd.
 
 
-
 
 
243,117
 
Fujian Lutong Highway Engineering Construction Co., Ltd.
 
 
-
 
 
2,161,177
 
Fujian Yihai Investment Co., Ltd
 
 
-
 
 
13,467,150
 
Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.
 
 
-
 
 
956,315
 
Fuzhou Haoyouli Fisheries Development Co., Ltd.
 
 
-
 
 
7,204,451
 
Fuzhou Wanhao Real Estate Property Investment Co., Ltd
 
 
-
 
 
2,567,923
 
 
 
$
-
 
$
49,802,821
 
Schedule Of Advances From Related Parties [Table Text Block]
(c)
Advances from related parties
 
 
 
December 31,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Kit Chan
 
$
-
 
$
153,961