SHORT TERM BANK LOANS (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Short-term Bank Loans [Table Text Block]

		March 31, 2015		December 31, 2014
Loans from China Ever-bright Bank
Interest rate up 18% based on the base rate (The current base rate for one-year loan is 7.08%, effective from March 1, 2015), due May 11, 2015, secured by the assets of the Company, guaranteed by Mr. Hu Xiaoming, Mr. Hu Wangyuan, Nanlong Group Co., Ltd. and Zhejiang Mengdeli Electric Co., Ltd. Also see Note 13 and Note 14.		12,719,949		12,675,713
Loans from China Ever-growing Bank
Interest rate up 20% based on the base rate (The current base rate for one-year loan is 7.20%, effective from March 1, 2015), due April 22, 2015, guaranteed by Mr. Hu Xiaoming, Ms. Ling Yueping, and Zhejiang Shuguang industrial Co., Ltd.		3,261,525		3,250,183
Loans from Hangzhou Bank
Interest rate 6.00% per annum, due October 20, 2015, secured by the assets of the Company. Also see Note 13 and Note 14.		7,958,122		7,930,446
Interest rate 6.00% per annum, due November 17, 2015, secured by the assets of the Company. Also see Note 13 and Note 14.		11,774,107		11,733,159
Interest rate at 5.35% per annum, due March 23, 2016, secured by the assets of the Company. Also see Note 13 and Note 14.		6,359,975
	$	42,073,678	$	$35,589,501

Schedule of Guarantor Obligations [Table Text Block]

No.		Amount	Guarantor
1	$	12,719,950	Jointly guaranteed by Zhejiang Mengdeli Electric Co Ltd (“ZMEC”) and Nanlong Group Co., Ltd. For Nanlong Group Co., Ltd, whose bank loans of $9,784,576 was also guaranteed by the Company. Also see Note 24.
2	$	3,261,525	Guaranteed by Zhejiang Shuguang industrial Co., Ltd. For Zhejiang Shuguang Industrial Co., Ltd, its bank loan of $4,892,288 was guaranteed by the Company. Also see Note 24.