Related party transactions and balances

6 Months Ended

Jun. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

28. Related party transactions and balances

Related party transactions are as follows (figures are in thousands of USD):

Related sales

	Three Months Ended June 30,
	2015		2014
Merchandise sold to related parties	$	11,640	$	14,928
Rental income obtained from related parties		23		-
Materials and others sold to related parties		563		-
Total	$	12,226	$	14,928

	Six Months Ended June 30,
	2015		2014
Merchandise sold to related parties	$	19,939	$	26,738
Rental income obtained from related parties		56		-
Materials and others sold to related parties		992		-
Total	$	20,987	$	26,738

Related purchases

	Three Months Ended June 30,
	2015		2014
Materials purchased from related parties	$	5,630	$	7,461
Technology purchased from related parties		147		72
Equipment purchased from related parties		826		336
Others purchased from related parties		136		-
Total	$	6,739	$	7,869

	Six Months Ended June 30,
	2015		2014
Materials purchased from related parties	$	12,638	$	14,652
Technology purchased from related parties		147		164
Equipment purchased from related parties		3,070		1,254
Others purchased from related parties		354		-
Total	$	16,209	$	16,070

Related receivables

	June 30, 2015		December 31, 2014
Accounts and notes receivable from related parties	$	27,003	$	22,760
Other receivables from related parties		19		76
Total	$	27,022	$	22,836

Related advances

	June 30, 2015		December 31, 2014
Advance equipment payment to related parties	$	2,693	$	2,085
Advance payments and others to related parties		784		741
Total	$	3,477	$	2,826

Related payables

	June 30, 2015		December 31, 2014
Accounts payable	$	5,198	$	4,857

These transactions were consummated under similar terms as those with the Company's third party customers and suppliers.

Related parties pledged certain land use rights and buildings as security for the Company’s credit facilities provided by banks.

As of August 13, 2015, Hanlin Chen, the Company’s Chairman, owns 55.6% of the common stock of the Company and has the effective power to control the vote on substantially all significant matters without the approval of other stockholders.