COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 20 COMMITMENTS AND CONTINGENCIES

Lease commitments

The Company has entered into tenancy agreements for the lease of factory premises and warehouse with independent parties. The Company’s commitments for minimum lease payments under these operating leases for the next five years and thereafter as of September 30, 2013 are as follows:

Payable within:
- remainder of fiscal year ending December 31, 2013		16,103
- fiscal year ending December 31, 2014 and thereafter		21,470
Total	$	37,573

Other commitments

During 2011, the Company signed various research and development contracts with Shanghai Electric Cable Research Institute with a total contract amount of $3.09 million. As of September 30, 2013, the Company has paid $2.24 million. The Company expects to pay the remaining $0.85 million within one year.