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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS    
Cash and cash equivalents $ 10,747,998 $ 14,019,634
Restricted cash 10,347,015 12,538,049
Accounts receivable, billed and unbilled, net of allowance for doubtful accounts of $29,518,000 and $9,373,000, respectively 85,958,886 103,342,459
Bills receivable 1,531,772 247,338
Advances to suppliers 6,089,210 5,020,747
Amounts due from related parties 1,212,226 22,823
Inventories, net of provision of $5,976,000 and $5,224,000, respectively 16,797,673 22,317,260
Other receivables and prepaid expenses 8,801,985 9,603,954
Deferred tax assets 2,297,617 2,548,834
TOTAL CURRENT ASSETS 143,784,382 169,661,098
Deposit for purchase of land use rights 19,085,878 27,564,586
Long-term investments 2,580,096 2,401,561
Property, plant and equipment, net 66,269,320 91,161,093
Land use rights, net 13,122,363 1,956,616
Intangible assets, net 14,416,976 14,380,459
Goodwill 27,622,490 53,983,687
Deferred tax assets 540,384 683,042
TOTAL ASSETS 287,421,889 361,792,142
CURRENT LIABILITIES    
Short-term bank loans 50,813,046 40,983,457
Accounts payable 20,289,783 19,013,509
Bills payable 33,686,488 27,399,393
Advances from customers 3,754,442 6,403,966
Amounts due to related parties 0 593,617
Accrued payroll and benefits 2,945,323 3,060,384
Other payables and accrued expenses 6,907,622 6,784,353
Income tax payable 3,660,926 3,525,949
TOTAL CURRENT LIABILITIES 122,057,630 107,764,628
Long-term bank loans 74,175 109,524
Amounts due to related parties, long-term portion 12,728 12,624
Deferred tax liabilities 1,263,423 1,365,680
TOTAL LIABILITIES 123,407,956 109,252,456
COMMITMENTS AND CONTINGENCIES 0 0
EQUITY    
Common stock, par $0.01; authorized capital 100,000,000 shares; shares issued and outstanding 2012: 27,007,608 shares, 2011: 27,230,835 shares 286,326 286,326
Treasury stock, 2012: 584,231 shares, 2011: 360,627 at cost (1,011,091) (695,514)
Additional paid-in capital 101,261,307 101,261,307
Reserve 14,532,587 14,488,533
Retained earnings 5,804,023 95,600,619
Accumulated other comprehensive income 21,811,064 19,925,259
Total equity of the Company 142,684,216 230,866,530
Non-controlling interest 21,329,717 21,673,156
Total equity 164,013,933 252,539,686
TOTAL LIABILITIES AND EQUITY $ 287,421,889 $ 361,792,142