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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 64,837,968 $ 55,783,921
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,550,598 4,326,425
Amortization 1,027,650 2,293,839
(Gain)/ loss on sale of property, plant and equipment (138,450) 371,544
Allowance for doubtful accounts, net 0 21,876
Provision for doubtful accounts - other receivables and prepayments 37,453 94,567
Deferred tax expense/ (benefit) 428,037 (515,960)
Share-based compensation 4,076,817 3,074,132
Change in fair value of derivative liabilities 0 (1,769,140)
Equity in income of an equity method investee (1,382,524) (2,219,279)
Change in operating assets and liabilities:    
Accounts receivable (10,758,305) 1,872,418
Prepayment and other current assets (720,340) (468,800)
Inventories (5,872,632) 3,507,968
Accounts payable 1,254,404 (1,103,617)
Other payables and accrued expenses 1,088,481 (398,905)
Advance from customers (823,499) (939,904)
Due to related parties 16,539 337,536
Income tax payable 837,760 517,440
Net cash provided by operating activities 58,459,957 64,786,061
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payment for property, plant and equipment (17,076,459) (7,436,719)
Payment for intangible assets and land use rights (1,141,197) (796,707)
Dividend received 560,980 1,109,115
Purchase of short-term investment 0 (2,731,300)
Proceeds from sale of property, plant and equipment 175,808 0
Payment related to land use right 0 (13,220,568)
Net cash used in investing activities (17,480,868) (23,076,179)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock option exercised 3,035,011 120,000
Proceeds from warrants exercised 0 4,500,000
Proceeds from short term bank loans 4,808,400 11,076,100
Repayment of short term bank loans (8,014,000) (11,106,200)
Proceeds from long term bank loans 30,000,000 0
Payment for deposit as security for long-term bank loans (30,000,000) 0
Payment for share repurchase (29,594,080) 0
Acquisition of noncontrolling interest (1,963,913) 0
Dividend paid by subsidiaries to noncontrolling interest shareholders (10,896,678) (4,379,016)
Net cash (used in) /provided by financing activities (42,625,260) 210,884
EFFECTS OF FOREIGN EXCHANGE RATE CHANGE ON CASH 3,533,528 390,585
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,887,357 42,311,351
Cash and cash equivalents at beginning of period 129,609,317 89,411,835
Cash and cash equivalents at end of period 131,496,674 131,723,186
Supplemental cash flow information    
Cash paid for income taxes 11,957,795 9,988,536
Cash paid for interest expense 273,095 296,901
Noncash investing and financing activities:    
Acquisition of property, plant and equipment included in payables 1,502,623 0
Exercise of warrants that were liability classified $ 0 $ 3,641,279