XML 103 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 2,666,806 $ 6,627,334
Restricted cash 24,594,567 27,695,569
Accounts receivable, net 25,556,158 25,323,899
Notes receivable 564,427 392,242
Prepayments 4,633,723 3,223,795
Other receivables 800,984 802,907
Inventories 18,797,421 16,719,807
Total Current Assets 77,614,086 80,785,553
Property, plant and equipment, net 37,466,258 33,462,369
Land use right, net 4,411,408 4,423,348
Intangible asset, net 675,000 700,000
Deferred tax assets 907,594 762,954
Foreign currency derivatives assets 133,225 255,508
TOTAL ASSETS 121,207,571 120,389,732
Current Liabilities:    
Accounts payable 27,012,982 27,509,195
Deferred revenue 666,613 661,178
Short-term loan 27,636,005 20,478,604
Notes payable 20,079,201 26,397,200
Other payables and accrued liabilities 6,260,815 4,485,918
Income taxes payable 959,696 1,180,469
Current portion of long-term loan 1,941,590 1,925,762
Total Current Liabilities 84,556,902 82,638,326
Long-term loan 4,853,977 5,777,286
TOTAL LIABILITIES 89,410,879 88,415,612
COMMITMENTS AND CONTINGENCIES      
Stockholder's equity    
Preferred Stock (Par value: $0.0001, Authorized: 10,000,000 shares, Issued and outstanding: none)      
Common stock (Par value : $0.0001, Authorized: 100,000,000 shares, 13,582,106 shares issued and outstanding at June 30, 2013 and December 31, 2012) 1,358 1,358
Additional paid-in capital 5,547,463 6,035,230
Statutory and other reserves 2,790,484 2,790,484
Retained earnings 16,791,993 17,291,584
Accumulated other comprehensive income 5,342,792 5,049,864
Total equity for the Company's stockholders 30,474,090 31,168,520
Non-controlling interest 1,322,602 805,600
TOTAL EQUITY 31,796,692 31,974,120
TOTAL LIABILITIES AND EQUITY $ 121,207,571 $ 120,389,732