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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 32,733,042 $ 29,655,360
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,267,623 2,201,020
Amortization 216,971 208,237
Loss on sale of property, plant and equipment 90,261 60,540
Allowance for doubtful accounts - accounts receivable, net 0 23,656
Allowance for doubtful accounts - other receivables and prepayments 0 796
Write-down of obsolete inventories 59,560 4,576
Deferred tax (benefit) expense (887,184) 502,563
Share-based compensation 4,569,395 1,969,973
Equity in loss of an equity method investee 216,315 95,067
Change in operating assets and liabilities:    
Accounts receivable (5,267,385) (9,178,096)
Prepayment and other current assets 2,554,632 (1,638,307)
Inventories (3,869,727) (1,889,100)
Accounts payable (3,696,808) 482,077
Other payables and accrued expenses (8,282,055) (5,672,053)
Deferred income (127,705) (74,749)
Income tax payable 3,654,815 (209,688)
Net cash provided by operating activities 24,231,750 16,541,872
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payment for property, plant and equipment (13,672,613) (8,478,369)
Payment for intangible assets and land use rights (967,636) 0
Refund of deposits related to land use right 994,815 0
Proceeds from sale of property, plant and equipment and land use rights 63,397 6,219
Long-term loan lent to a third party (6,331,518) 0
Net cash used in investing activities (19,913,555) (8,472,150)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock option exercised 0 449,741
Repayment of short-term bank loans 0 (31,610,360)
Maturity of deposit as security for bank loans 37,756,405 31,985,122
Dividend paid by subsidiaries to noncontrolling interest shareholders (7,921,952) 0
Dividend to the trial court to be held in escrow as to dispute with Jie’an 0 (2,988,194)
Net cash provided by (used in) financing activities 29,834,453 (2,163,691)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH 1,026,211 (738,659)
NET INCREASE IN CASH AND CASH EQUIVALENTS 35,178,859 5,167,372
Cash and cash equivalents at beginning of period 144,937,893 80,820,224
Cash and cash equivalents at end of period 180,116,752 85,987,596
Supplemental cash flow information    
Cash paid for income taxes 3,867,715 5,373,179
Cash paid for interest expense 0 660,018
Noncash investing and financing activities:    
Acquisition of property, plant and equipment included in payables $ 3,087,289 $ 189,074