CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2012

CONDENSED PARENT COMPANY FINANCIAL INFORMATION [Abstract]

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS

	2012			2011
Assets
Cash	$	7,645,949		$	11,621,907
Investments in subsidiaries		322,526,371			286,912,377
Total assets	$	330,172,320		$	298,534,284
Liabilities and Stockholders'' Equity
Current liabilities
Accrued liabilities and other payables	$	105,000		$	106,448
Total liabilities		105,000			106,448
Stockholders' Equity
Common stock		140,418,118			140,418,118
Additional paid in capital		4,978,698			6,930,944
Treasury stock		(414,063	)		(4,516,744	)
Retained earnings		163,276,046			137,142,958
Accumulated other comprehensive income		21,808,521			18,452,560
Total stockholders' equity		330,067,320			298,427,836
Total liabilities and stockholders' equity	$	330,172,320		$	298,534,284

CONDENSED STATEMENT OF INCOME

CONDENSED STATEMENT OF INCOME

	For the years ended
	2012			2011			2010
General and administrative expenses	$	(2,419,836	)	$	(9,439,791	)	$	(2,059,737	)
Equity income of subsidiaries		28,552,924			67,060,343			49,143,161
Net income	$	26,133,088		$	57,620,552		$	47,083,424

CONDENSED STATEMENT OF CASH FLOWS

CONDENSED STATEMENT OF CASH FLOWS

	For the years ended
	2012			2011			2010
Net cash used in operating activities	$	(2,421,284	)	$	(7,887,611	)	$	(3,511,915	)
Net cash used in investing activities		-			(48,000,000	)		(25,500,000	)
Net cash (used in)/provided by financing activities		(1,554,674	)		61,957,131			28,682,613
Cash as of January 1		11,621,907			5,552,387			5,881,689
Cash as of December 31	$	7,645,949		$	11,621,907		$	5,552,387