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Inventories

12 Months Ended

Dec. 31, 2014

6.Inventories

Inventories consisted of the following:

	As of December 31,
	2013	2014	2014
	(RMB)	(RMB)	($)
Raw materials	320,486,533	421,800,272	68,932,877
Work-in-process	3,574,268	3,202,142	523,311
Finished goods	29,145,319	71,752,211	11,726,133
Total inventories	353,206,120	496,754,625	81,182,321

The Company did not set up any inventory reserve as of December 31, 2013 and 2014. As of December 31, 2013 and 2014, certain raw materials with an aggregate carrying value of RMB nil and RMB183,765,570 ($30,031,961), 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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