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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 44,890,005 $ 37,310,832
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,105,739 2,281,223
Amortization 702,556 1,525,267
(Gain)/ loss on sale of property, plant and equipment (70,363) 60,518
Allowance for doubtful accounts, net 0 21,895
Provision for doubtful accounts - other receivables and prepayments 6,202 35,637
Write-down of obsolete inventories 0 49,703
Deferred tax expense 720,679 26,341
Share-based compensation 3,047,962 1,992,958
Change in fair value of derivative liabilities 0 (1,769,140)
Equity in income of an equity method investee (739,945) (1,474,303)
Change in operating assets and liabilities:    
Accounts receivable (6,314,643) (4,692,006)
Prepayment and other current assets (101,135) (292,473)
Inventories (3,616,165) 2,045,191
Accounts payable 242,365 (1,546,373)
Other payables and accrued expenses (2,033,594) (2,977,473)
Advance from customers (529,984) 401,393
Due to related parties (140,697) 1,255,867
Income tax payable (1,260,254) (2,185,825)
Net cash provided by operating activities 37,908,728 32,069,232
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payment for property, plant and equipment (11,912,603) (5,098,533)
Payment for intangible assets and land use right (1,137,556) (796,707)
Dividend received 560,980 555,310
Purchase of short-term investment 0 (1,348,610)
Proceeds from sale of property, plant and equipment 83,731 0
Net cash used in investing activities (12,405,448) (6,688,540)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock option exercised 2,668,916 0
Proceeds from warrants exercised 0 4,500,000
Proceeds from short term bank loans 4,808,400 0
Repayment of short term bank loans (8,014,000) (11,106,200)
Acquisition of noncontrolling interest (1,963,913) 0
Dividend paid by subsidiaries to noncontrolling interest shareholders (8,110,168) (4,379,016)
Net cash used in financing activities (10,610,765) (10,985,216)
EFFECTS OF FOREIGN EXCHANGE RATE CHANGE ON CASH 2,762,616 679,914
NET INCREASE IN CASH 17,655,131 15,075,390
Cash and cash equivalents at beginning of period 129,609,317 89,411,835
Cash and cash equivalents at end of period 147,264,448 104,487,225
Supplemental cash flow information    
Cash paid for income taxes 8,892,126 8,669,815
Cash paid for interest expense 198,900 204,982
Noncash investing and financing activities:    
Acquisition of property, plant and equipment included in payables 1,554,828 347,439
Exercise of warrants that were liability classified $ 0 $ 3,641,279