XML 38 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 19,182,887 $ 14,131,362
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 4,596,276 3,552,740
Loss on disposal of properties and equipment    142,380
Deferred tax assets 83,709 (174,285)
Changes in operating assets and liabilities    
Accounts receivable (13,290,808) 11,932,885
Other receivable (8,900) 1,113,111
Advances to suppliers and other current assets (4,861) (34,243)
Inventories (1,131,943) (419,708)
Accounts payable 11,370,240 (623,141)
Accrued expenses (2,648,963) (382,650)
Short-term notes payable (284,131) (239,119)
Income tax payable 1,206,559 (2,609,659)
Advances from customers 349,640 (411,869)
Net cash provided by operating activities 19,419,705 25,977,804
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (6,954,476) (7,791,997)
Additions to land use right (1,205,038)   
Prepayment for other assets (591,518) (5,147,903)
Net cash used in investing activities (8,751,032) (12,939,900)
CASH FLOWS FROM FINANCING ACTIVITIES    
Changes in restricted cash 315,814 208,154
Proceeds from short-term bank loans 6,336,634 4,235,865
Repayment of short-term bank loans (1,138,658) (8,433,584)
Net cash provided by (used in) financing activities 5,513,790 (3,989,565)
Effect of change in exchange rate 223,808 2,755,283
NET INCREASE IN CASH AND CASH EQUIVALENTS 16,406,271 11,803,622
Cash and cash equivalents, beginning of year 61,154,007 49,350,385
Cash and cash equivalents, end of year 77,560,278 61,154,007
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 888,574 849,743
Cash paid for income taxes 5,556,241 7,853,661
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION    
Transferred from other assets to property, plant and equipment and construction in process $ 5,221,925 $ 1,687,012