SEGMENT INFORMATION

9 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 17 – SEGMENT INFORMATION

The Company has four reportable segments represented by its four subsidiaries Changshu Huaye, Jiangsu Cold-Rolled, Ningbo Zhehua and Sutor Technology as described in Note 1.

Factors Management Used to Identify the Enterprise’s Reportable Segments - The Company’s reportable segments are business units that offer different products and are managed separately and require reporting to the various regulatory jurisdictions. Changshu Huaye mainly produces HDG products and PPGI products.  Jiangsu Cold-Rolled offers cold-rolled steel strips, acid pickled steel and HDG steel products. Ningbo Zhehua manufactures heavy steel pipe products and Sutor Technology engages in trading of steel products.

Certain segment information is presented below:

As of March 31, 2013 and for the  three months then ended	Changshu Huaye		Jiangsu Cold-Rolled		Ningbo Zhehua		Sutor Technology			Inter-Segment and Reconciling Items			Total
Revenue from unrelated parties	$	19,186,646	$	56,785,333	$	7,299,004	$	1,723,243		$	-		$	84,994,226
Revenue from related parties		14,605,106		39,949,727		-		-			-			54,554,833
Revenue from other operating segments		1,812,361		16,339,487		-		-			(18,151,848	)		-
Total operating expenses		1,825,738		1,025,929		678,345		201,304			176,551			3,907,867
Interest income		537,007		342,590		88,024		80			5			967,706
Interest expense		501,139		1,457,147		24,300		-			596,595			2,579,181
Depreciation and amortization expense		587,388		1,302,420		241,827		133,709			(44,507	)		2,220,837
Income tax expense		427,536		963,702		278,931		-			-			1,670,169
Net segment profit/(loss)		1,672,661		2,946,251		298,031		(85,156	)		(951,767	)		3,880,020
Capital expenditures		544		668,645		5,661		-			-			674,850
Segment assets	$	239,166,787	$	353,806,897	$	36,787,588	$	33,327,808		$	(188,172,092	)	$	474,916,988

As of March 31, 2012 and for the three months then ended	Changshu Huaye			Jiangsu Cold-Rolled		Ningbo Zhehua			Sutor Technology			Inter-Segment and Reconciling Items			Total
Revenue	$	22,682,523		$	47,121,236	$	5,103,041		$	2,363,043		$	23,499		$	77,293,342
Revenue from related parties		9,628,855			23,011,001		1,857			-			-			32,641,713
Revenue from other operating segments		2,939,039			8,520,488		-			-			(11,459,527	)		-
Total operating expenses		1,715,753			470,342		678,402			207,220			75,574			3,147,291
Interest income		201,577			92,345		75,315			116			(792	)		368,561
Interest expense		511,787			2,791,671		53,912			-			127,574			3,484,944
Depreciation and amortization expense		588,398			1,481,765		239,447			3,350			-			2,312,960
Income tax expense		86,546			455,156		11,810			-			3			553,515
Net segment profit/(loss)		489,380			1,716,454		(539,059	)		(196,797	)		(194,807	)		1,275,171
Capital expenditures		(20,484	)		3,521,894		30,895			-			-			3,532,305
Segment assets	$	258,288,503		$	369,967,663	$	46,153,969		$	33,949,134		$	(223,612,080	)	$	484,747,189

As of March 31, 2013 and for the nine  months then ended	Changshu Huaye		Jiangsu Cold-Rolled		Ningbo Zhehua			Sutor Technology			Inter-Segment and Reconciling Items			Total
Revenue from unrelated parties	$	91,621,864	$	163,039,729	$	20,284,200		$	5,635,251		$	6,754		$	280,587,798
Revenue from related parties		18,113,359		115,901,451		-			-			-			134,014,810
Revenue from other operating segments		13,291,525		66,356,819		-			-			(79,648,344	)		-
Total operating expenses		6,907,175		3,067,938		1,769,001			627,528			508,466			12,880,108
Interest income		1,704,546		1,076,817		208,080			298			15			2,989,756
Interest expense		1,405,858		5,635,120		98,365			-			1,314,274			8,453,617
Depreciation and amortization expense		1,726,187		3,788,208		714,506			399,973			-			6,628,874
Income tax expense/(benefit)		675,368		2,046,275		(46,865	)		-			-			2,674,778
Net segment profit/(loss)		3,762,451		9,239,457		(147,291	)		(334,807	)		(2,032,113	)		10,487,697
Capital expenditures		377,458		2,175,800		3,924,326			-			-			6,477,584
Segment assets	$	239,166,787	$	353,806,897	$	36,787,588		$	33,327,808		$	(188,172,092	)	$	474,916,988

As of March 31, 2012 and for the nine months then ended	Changshu Huaye			Jiangsu Cold-Rolled		Ningbo Zhehua			Sutor Technology			Inter-Segment and Reconciling Items			Total
Revenue	$	91,344,305		$	111,492,121	$	34,739,377		$	5,495,116		$	15,689,920		$	258,760,839
Revenue from related parties		13,340,581			75,776,497		147,553			-			-			89,264,631
Revenue from other operating segments		30,584,987			70,198,868		-			-			(100,783,855	)		-
Total operating expenses		8,002,675			1,691,877		2,312,363			497,400			561,363			13,065,678
Interest income		504,833			392,486		149,128			498			31			1,046,976
Interest expense		1,237,112			5,645,882		213,640			-			555,826			7,652,460
Depreciation and amortization expense		1,719,613			3,806,154		700,230			266,263			-			6,492,260
Income tax (benefit)/expense		(162,421	)		87,584		116,468			-			111,555			153,186
Net segment profit/(loss)		1,217,938			8,103,617		(168,800	)		(473,528	)		382,685			9,061,912
Capital expenditures		42,828			12,973,010		121,687			-			-			13,137,525
Segment assets	$	258,288,503			369,967,663		46,153,969			33,949,134		$	(223,612,080	)	$	484,747,189