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Inventories

12 Months Ended

Dec. 31, 2013

6. Inventories

Inventories consisted of the following:

	As of December 31,
	2012	2013	2013
	(RMB)	(RMB)	($)
Raw materials	100,328,496	320,486,533	52,565,490
Work-in-process	4,374,403	3,574,268	586,244
Finished goods	33,577,981	29,145,319	4,780,350
Total inventories	138,280,880	353,206,120	57,932,084

The Company did not have any inventory reserve as of December 31, 2012 and 2013. As of December 31, 2012 and 2013, certain raw materials with an aggregate carrying value of RMB51,516,000 and RMB nil, respectively, were pledged as collateral for borrowings from financial institutions.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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