Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.8.0.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Statements of Income and Comprehensive Income [Abstract]      
REVENUE $ 63,209,687 $ 20,540,769 $ 60,700,190
COST OF REVENUE 41,126,898 29,328,776 63,476,627
GROSS PROFIT (LOSS) 22,082,789 (8,788,007) (2,776,437)
OPERATING EXPENSES (PROFIT):      
Selling 1,231,031 1,235,497 1,858,687
General and administrative 9,579,404 3,969,465 2,933,588
Grant income (22,177,227) (558,451) (33,152,698)
Loss on fixed assets disposal 195,375 1,583,834
Total Operating (Profit) Expenses (11,171,417) 4,646,511 (26,776,589)
INCOME (LOSS) FROM OPERATIONS 33,254,206 (13,434,518) 24,000,152
OTHER INCOME (EXPENSE):      
Interest income 186,194 1,931,963 103,668
Interest expense (2,403,213) (1,972,267) (3,630,200)
Foreign currency transaction gain (loss) 1,195,875 (1,543,357) (1,308,922)
Dividend Received 320,316 375,396 413,614
Loss on equity method investment (33,246) (33,073) (19,700)
Other expense (1) (471) (210)
Total Other Expense (734,075) (1,241,809) (4,441,750)
INCOME (LOSS) BEFORE INCOME TAXES 32,520,131 (14,676,327) 19,558,402
INCOME TAXES 984
NET INCOME (LOSS) 32,520,131 (14,677,311) 19,558,402
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 2,860,438 (959,688) 1,205,485
NET INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY 29,659,693 (13,717,623) 18,352,917
COMPREHENSIVE INCOME (LOSS):      
NET INCOME (LOSS) 32,520,131 (14,677,311) 19,558,402
OTHER COMPREHENSIVE INCOME (LOSS)      
Unrealized foreign currency translation gain (loss) 7,760,460 (9,288,056) (8,628,162)
COMPREHENSIVE INCOME (LOSS) 40,280,591 (23,965,367) 10,930,240
LESS: COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 3,473,736 (1,695,044) 658,092
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY $ 36,806,855 $ (22,270,323) $ 10,272,148
NET INCOME (LOSS) PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY      
Basic and diluted $ 0.38 $ (0.17) $ 0.23
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:      
Basic and diluted 79,055,053 79,055,053 79,055,053