Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income and Comprehensive Income

v3.3.1.900
Consolidated Statements of Income and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues [Abstract]      
Revenue $ 60,700,190 $ 233,427,011 $ 112,295,158
Revenue - related party 10,372,611
Total Revenue $ 60,700,190 $ 233,427,011 122,667,769
COST OF REVENUE      
Cost of revenue $ 63,476,627 $ 155,840,823 68,403,097
Cost of revenue - related party 6,580,193
Total Cost of Revenue $ 63,476,627 $ 155,840,823 74,983,290
GROSS (LOSS) PROFIT (2,776,437) 77,586,188 47,684,479
OPERATING EXPENSES:      
Selling 1,858,687 2,673,213 1,618,278
General and administrative 2,933,588 4,537,351 3,191,637
Total Operating Expenses 4,792,275 7,210,564 4,809,915
(LOSS) INCOME FROM OPERATIONS (7,568,712) 70,375,624 42,874,564
OTHER INCOME (EXPENSE):      
Interest income 103,668 16,772 8,250
Interest expense (3,630,200) (4,815,670) (3,301,696)
Foreign currency transaction (loss) gain (1,308,922) (258,248) 144,740
Grant income 33,152,698 20,094,039 7,338,273
Gain from cost method investment 413,614 $ 348,523 $ 69,519
Loss on equity method investment (19,700)
Loss on fixed assets disposal (1,583,834)
Other (expense) income (210) $ (335) $ 2,144
Total Other Income, net 27,127,114 15,385,081 4,261,230
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES $ 19,558,402 $ 85,760,705 $ 47,135,794
INCOME TAXES
NET INCOME FROM CONTINUING OPERATIONS $ 19,558,402 $ 85,760,705 $ 47,135,794
NET INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES 51,910,662
NET INCOME $ 19,558,402 $ 85,760,705 $ 99,046,456
LESS: NET INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 1,205,485
NET INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY 18,352,917 $ 85,760,705 $ 99,046,456
COMPREHENSIVE INCOME:      
NET INCOME 19,558,402 85,760,705 99,046,456
OTHER COMPREHENSIVE (LOSS) INCOME      
Unrealized foreign currency translation (loss) gain (8,628,162) (552,656) 8,195,045
COMPREHENSIVE INCOME 10,930,240 $ 85,208,049 $ 107,241,501
LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 658,092
COMPREHENSIVE INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY $ 10,272,148 $ 85,208,049 $ 107,241,501
BASIC AND DILUTED NET INCOME PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY      
From continuing operations $ 0.23 $ 1.08 $ 0.60
From discontinued operations 0 0 0.66
Total $ 0.23 $ 1.08 $ 1.26
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:      
Basic and diluted 79,055,053 79,055,053 78,772,743