XML 13 R2.htm IDEA: XBRL DOCUMENT v3.19.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 78,891,580 $ 41,301,817
Restricted cash 427,321,731 325,690,023
Accounts receivable, net of allowance for doubtful accounts 154,051,127 294,688,288
Inventories 793,243,874 620,033,195
Prepaid expenses and other current assets 96,270,070 132,218,528
Total current assets 1,549,778,382 1,413,931,851
Property, plant and equipment, net 770,413,511 775,941,280
Land use rights, net 30,213,879 29,796,795
Long-term prepayments to equipment and construction suppliers 524,297,914 530,636,319
Operating lease right-of-use assets, net 15,918,647
Other non-current assets 3,171,583 3,212,986
Total assets 2,893,793,916 2,753,519,231
Current liabilities:    
Short-term bank loans, including current portion of long-term bank loans 723,302,348 729,666,920
Bills payable 730,318,556 618,166,453
Accounts payable 40,865,322 84,958,469
Amounts due to related parties [1] 18,995,751 18,365,738
Income taxes payable 16,337,961 15,975,367
Operating lease liabilities, current 2,304,598
Accrued expenses and other current liabilities 82,423,884 126,926,898
Total current liabilities 1,614,548,420 1,594,059,845
Long-term bank loans, excluding current portion 188,183,909 111,808,244
Deferred income 100,255,791 99,583,477
Operating lease liabilities, non-current 14,666,805
Other non-current liabilities 103,993,582 101,573,772
Total liabilities 2,021,648,507 1,907,025,338
Redeemable Series D convertible preferred stock (redemption amount of US$290,491,100 and US$280,650,800 as of March 31, 2019 and December 31, 2018, respectively) 97,576,465 97,576,465
Stockholders' equity:    
Series B preferred stock 100 100
Common stock, US$0.0001 par value, 500,000,000 shares authorized, 50,969,841 shares issued, 50,948,841 shares outstanding as of March 31, 2019 and December 31, 2018, respectively 5,097 5,097
Treasury stock, 21,000 shares at cost (92,694) (92,694)
Additional paid-in capital 86,633,582 86,633,582
Retained earnings 728,084,605 717,103,890
Accumulated other comprehensive loss (40,061,746) (54,732,547)
Total stockholders' equity 774,568,944 748,917,428
Commitments and contingencies
Total liabilities, redeemable convertible preferred stock and stockholders' equity $ 2,893,793,916 $ 2,753,519,231
[1] During the year ended December 31, 2018, the Company received RMB68.0 million (equivalent to US$10.1 million) from Mr. Jie Han, the Chairman of the Company, RMB21.8 million (equivalent to US$3.2 million) from Ms. Limei Sun, the wife of Mr. Jie Han, RMB5.0 million (equivalent to US$0.7 million) from Mr. Tiexin Han, the son of Mr. Jie Han.