Accounts receivable

3 Months Ended

Mar. 31, 2019

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts receivable

Note 2 – Accounts receivable

Accounts receivable consists of the following:

	March 31, 2019			December 31, 2018
	US$			US$
Accounts receivable		154,090,385			294,726,804
Allowance for doubtful accounts		(39,258	)		(38,516	)
Accounts receivable, net		154,051,127			294,688,288

As of March 31, 2019 and December 31, 2018, the accounts receivable balances also include notes receivable in the amount of US$148,511 and US$27,392, respectively. As of March 31, 2019 and December 31, 2018, US$96,402,983 and US$94,581,170, respectively, of accounts receivable are pledged for the short-term bank loans. 

There was no accrual of additional provision or write-off of accounts receivable for the three-month periods ended March 31, 2019 and 2018.

The following table provides an analysis of the aging of accounts receivable as of March 31, 2019 and December 31, 2018:

	March 31, 2019		December 31, 2018
	US$		US$
Aging:
– current		95,781,698		218,458,862
– 1-3 months past due		15,305,123		31,386,341
– 4-6 months past due		89,204		109,412
– 7-12 months past due		10,746,881		42,532,170
– greater than one year past due		32,167,479		2,240,019
Total accounts receivable		154,090,385		294,726,804