XML 12 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets    
Cash and cash equivalents $ 30,230,828 $ 14,009,597
Accounts receivable, net 71,823,328 68,171,387
Bank acceptance notes from customers 22,870,791 17,626,704
Short term investments 61,007,709 34,838,757
Inventories 73,661,860 84,186,766
Prepayments, including $- and $83,206 due from related parties at December 31, 2015 and 2014, respectively. 3,350,607 4,663,002
Current portion of prepaid capital lease interest 93,458 282,280
Restricted cash 785,999 0
Other current assets 1,241,864 1,282,182
Deferred tax assets 2,909,729 1,868,371
Total Current Assets 267,976,173 226,929,046
Property, plant and equipment, net 37,561,905 43,550,927
Land use rights, net 13,232,149 14,421,729
Intangible assets, net 23,854 37,661
Security deposits on lease agreement 1,759,975 1,867,719
Non-current portion of prepaid capital lease interest 0 99,180
Total Non-Current Assets 52,577,883 59,977,216
Total Assets 320,554,056 286,906,262
Current Liabilities    
Accounts payable and bank acceptance notes to vendors, including $1,133,537 and $136,609 due to related parties at December 31, 2015 and 2014, respectively. 35,292,277 13,867,316
Deposit received from customers 20,012,087 19,045,172
Short term bank loans 23,367,207 9,539,476
Income tax payable 0 1,101,103
Accrued expenses 13,870,587 13,561,163
Current portion of capital lease obligations 3,519,949 3,735,438
Other current liabilities, including $0 and $17,681 due to related parties at December 31, 2015 and 2014, respectively. 2,067,449 2,131,527
Total Current Liabilities 98,129,556 62,981,195
Non-Current Liabilities    
Non-current portion of capital lease obligations 0 3,735,437
Total Non-Current Liabilities 0 3,735,437
Total Liabilities 98,129,556 66,716,632
Equity    
Preferred stock - no par value; 1,000,000 authorized; none issued and outstanding as of December 31, 2015 and 2014 0 0
Common stock - $0.002 par value; 50,000,000 authorized, 19,304,921 issued and outstanding as of December 31, 2015 and December 31, 2014 38,609 38,609
Additional paid-in capital 42,199,014 42,199,014
Reserves 13,207,972 12,019,532
Accumulated other comprehensive income 15,662,639 27,516,206
Retained earnings 129,055,099 116,935,053
Total SORL Auto Parts, Inc. Stockholders' Equity 200,163,333 198,708,414
Noncontrolling Interest In Subsidiaries 22,261,167 21,481,216
Total Equity 222,424,500 220,189,630
Total Liabilities and Equity $ 320,554,056 $ 286,906,262