Quarterly report pursuant to Section 13 or 15(d)

Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income

v3.10.0.1
Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Statements of Income and Comprehensive Income [Abstract]        
REVENUE $ 13,606,170 $ 35,695,881 $ 24,490,438 $ 41,357,021
COST OF REVENUE 6,650,634 23,391,710 11,934,350 27,810,560
GROSS PROFIT 6,955,536 12,304,171 12,556,088 13,546,461
OPERATING EXPENSES:        
Selling 380,350 178,575 861,801 567,293
General and administrative 1,521,671 1,259,793 3,081,268 2,347,665
General and administrative - depreciation 1,479,214 1,184,586 3,045,233 2,363,543
Grant income (30,365) (1,052,112) (12,749,640)
Loss on fixed assets disposal (2,705) 2,178,750
Total Operating Expenses 3,378,530 2,592,589 8,114,940 (7,471,139)
INCOME FROM OPERATIONS 3,577,006 9,711,582 4,441,148 21,017,600
OTHER INCOME (EXPENSE):        
Interest income 14,768 4,043 34,532 151,426
Interest expense (195,309) (648,333) (657,568) (1,351,409)
Foreign currency transaction (loss) gain (407,777) 446,431 166,215 544,882
Gain from cost method investment 397,420 314,818 397,420 314,818
Loss on equity method investment (50,164) (13,915) (61,115) (20,167)
Other expense (685) (3,812) (685) (3,812)
Total Other Income (Expense), net (241,747) 99,232 (121,201) (364,262)
INCOME BEFORE INCOME TAXES 3,335,259 9,810,814 4,319,947 20,653,338
INCOME TAXES
NET INCOME 3,335,259 9,810,814 4,319,947 20,653,338
LESS: NET INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST 389,775 853,403 502,170 1,775,773
NET INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY 2,945,484 8,957,411 3,817,777 18,877,565
COMPREHENSIVE (LOSS) INCOME:        
NET INCOME 3,335,259 9,810,814 4,319,947 20,653,338
OTHER COMPREHENSIVE (LOSS) INCOME        
Unrealized foreign currency translation (loss) gain (7,654,890) 2,041,844 (2,050,982) 2,682,892
COMPREHENSIVE (LOSS) INCOME (4,319,631) 11,852,658 2,268,965 23,336,230
LESS: COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST (222,538) 1,014,545 338,071 1,987,571
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY $ (4,097,093) $ 10,838,113 $ 1,930,894 $ 21,348,659
NET INCOME PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY        
Basic and diluted $ 0.04 $ 0.11 $ 0.05 $ 0.24
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:        
Basic and diluted 79,055,053 79,055,053 79,055,053 79,055,053