Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.1.9
Consolidated Balance Sheets (USD $)
Dec. 31, 2014
Dec. 31, 2013
CURRENT ASSETS:    
Cash $ 12,752,272us-gaap_CashAndCashEquivalentsAtCarryingValue $ 8,156,599us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts receivable, net of allowance for doubtful accounts 49,999,712us-gaap_AccountsReceivableNetCurrent 9,133,130us-gaap_AccountsReceivableNetCurrent
Inventories 12,123,405us-gaap_InventoryNet 9,095,736us-gaap_InventoryNet
Prepaid expenses 32,913us-gaap_PrepaidExpenseCurrent 4,309,574us-gaap_PrepaidExpenseCurrent
Prepaid expenses - related parties 7,319,975pme_PrepaidExpensesRelatedPartyCurrent   
Deferred expenses - related parties 1,029,114pme_DeferredExpensesRelatedPartyCurrent   
Other receivables 22,656,232us-gaap_OtherReceivablesNetCurrent 11,665us-gaap_OtherReceivablesNetCurrent
Total Current Assets 105,913,623us-gaap_AssetsCurrent 30,706,704us-gaap_AssetsCurrent
OTHER ASSETS:    
Long-term investment 19,385,843us-gaap_LongTermInvestments 3,468,953us-gaap_LongTermInvestments
Prepayment for long-term assets 13,750,102us-gaap_PrepaidExpenseNoncurrent 33,985,148us-gaap_PrepaidExpenseNoncurrent
Property, plant and equipment, net 109,980,617us-gaap_PropertyPlantAndEquipmentNet 101,970,707us-gaap_PropertyPlantAndEquipmentNet
Total Other Assets 143,116,562us-gaap_OtherAssets 139,424,808us-gaap_OtherAssets
Total Assets 249,030,185us-gaap_Assets 170,131,512us-gaap_Assets
CURRENT LIABILITIES:    
Accounts payable 1,181,977us-gaap_AccountsPayableCurrent 2,184,964us-gaap_AccountsPayableCurrent
Accounts payable - related parties 2,601,314us-gaap_AccountsPayableRelatedPartiesCurrent 13,807,605us-gaap_AccountsPayableRelatedPartiesCurrent
Advances from customers 164,724us-gaap_CustomerAdvancesCurrent 297,034us-gaap_CustomerAdvancesCurrent
Short-term bank loans 30,353,890us-gaap_ShortTermBorrowings 9,085,353us-gaap_ShortTermBorrowings
Long-term bank loans - current portion 18,868,616us-gaap_LongTermDebtCurrent 20,252,077us-gaap_LongTermDebtCurrent
Accrued liabilities and other payables 5,602,307us-gaap_AccruedLiabilitiesAndOtherLiabilities 4,643,272us-gaap_AccruedLiabilitiesAndOtherLiabilities
Due to related parties 2,373,352us-gaap_DueToRelatedPartiesCurrent   
Deferred grant income    520,045us-gaap_DeferredRevenueCurrent
Total Current Liabilities 61,146,180us-gaap_LiabilitiesCurrent 50,790,350us-gaap_LiabilitiesCurrent
OTHER LIABILITIES:    
Long-term bank loans - non-current portion 38,625,071us-gaap_LongTermDebtNoncurrent 54,499,727us-gaap_LongTermDebtNoncurrent
Total Liabilities 99,771,251us-gaap_Liabilities 105,290,077us-gaap_Liabilities
SHAREHOLDERS' EQUITY:    
Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 79,055,053 shares issued and outstanding at December 31, 2014 and 2013) 79,055us-gaap_CommonStockValue 79,055us-gaap_CommonStockValue
Additional paid-in capital 117,525,377us-gaap_AdditionalPaidInCapitalCommonStock 117,525,377us-gaap_AdditionalPaidInCapitalCommonStock
Retained earnings (accumulated deficit) 21,315,710us-gaap_RetainedEarningsAccumulatedDeficit (63,654,445)us-gaap_RetainedEarningsAccumulatedDeficit
Statutory reserve 6,412,892us-gaap_StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance 6,412,892us-gaap_StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance
Accumulated other comprehensive income 3,925,900us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 4,478,556us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total Shareholders' Equity 149,258,934us-gaap_StockholdersEquity 64,841,435us-gaap_StockholdersEquity
Total Liabilities and Shareholders' Equity $ 249,030,185us-gaap_LiabilitiesAndStockholdersEquity $ 170,131,512us-gaap_LiabilitiesAndStockholdersEquity