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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
6 Months Ended
Jun. 30, 2015
USD ($)
Jun. 30, 2014
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 63,897,532 $ 50,724,210
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,123,599 3,289,535
Amortization 415,231 371,168
Loss on sale of property, plant and equipment and land use rights 313,529 71,494
Allowance for doubtful accounts - accounts receivable 35,372 $ 1,477
Allowance for doubtful accounts - other receivables and prepayments 796  
Write-down of obsolete inventories 16,750 $ 9,092
Deferred tax expense 167,921 1,154,991
Share-based compensation 4,033,482 1,961,929
Equity in loss (income) of an equity method investee 761,300 (1,860,579)
Excess tax benefits from share-based compensation arrangements (288,681) (760,869)
Change in operating assets and liabilities:    
Accounts receivable (18,835,493) (7,473,499)
Prepayment and other current assets (1,165,997) (2,393,459)
Inventories (25,272,719) (6,852,680)
Accounts payable 10,123,561 (438,427)
Other payables and accrued expenses (2,391,597) 171,318
Deferred income (149,708) (74,721)
Income tax payable (1,223,601) 1,126,281
Net cash provided by operating activities 34,561,277 39,027,261
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payment for property, plant and equipment (16,486,212) (10,243,198)
Payment for intangible assets and land use right $ (4,205,678) (1,227,914)
Refund of deposits related to land use right   1,635,200
Proceeds upon maturity of time deposit   6,608,612
Proceeds from sale of property, plant and equipment and land use rights $ 559,029 190,660
Net cash used in investing activities (20,132,861) (3,036,640)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock option exercised 771,164 1,643,559
Repayment of bank loans $ (97,910,360) (4,905,600)
Proceeds from long-term bank loans   $ 70,000,000
Maturity of deposit as security for short-term bank loan $ 31,985,122  
Payment for deposit as security for long-term bank loans   $ (72,290,922)
Payment for share repurchase   (70,000,000)
Excess tax benefits from share-based compensation arrangements $ 288,681 760,869
Dividend paid by subsidiaries to noncontrolling interest shareholders   $ (1,409,542)
Net proceeds from reissuance of treasury stock $ 80,583,959  
Dividend to the trial court to be held in escrow as to dispute with Jie'an (3,690,814)  
Net cash provided by (used in) financing activities 12,027,752 $ (76,201,636)
EFFECTS OF FOREIGN EXCHANGE RATE CHANGE ON CASH (661,684) (703,847)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 25,794,484 (40,914,862)
Cash and cash equivalents at beginning of period 80,820,224 144,138,487
Cash and cash equivalents at end of period 106,614,708 103,223,625
Supplemental cash flow information    
Cash paid for income taxes 12,829,660 7,564,408
Cash paid for interest expense 1,428,614 1,067,251
Noncash investing and financing activities:    
Acquisition of property, plant and equipment included in payables $ 231,397 $ 2,805,220