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SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2017
SEGMENT INFORMATION [Abstract]  
Schedule of Segment Information, by Segment
All of the Company’s long-lived assets are located in the PRC. The Company and its subsidiaries do not have long-lived assets in the United States for the reporting periods.
 
  
 
 
2017
 
2016
 
 
 
 
 
 
 
 
 
NET SALES TO EXTERNAL CUSTOMERS
 
 
 
 
 
 
 
Commercial vehicles brake systems
 
$
330,201,227
 
$
224,213,063
 
Passenger vehicles brake systems
 
 
60,321,342
 
 
54,530,059
 
 
 
 
 
 
 
 
 
Net sales
 
$
390,522,569
 
$
278,743,122
 
INTERSEGMENT SALES
 
 
 
 
 
 
 
Commercial vehicles brake systems
 
$
—
 
$
—
 
Passenger vehicles brake systems
 
 
—
 
 
—
 
 
 
 
 
 
 
 
 
Intersegment sales
 
$
—
 
$
—
 
GROSS PROFIT
 
 
 
 
 
 
 
Commercial vehicles brake systems
 
$
89,355,410
 
$
63,051,542
 
Passenger vehicles brake systems
 
 
14,830,792
 
 
12,338,494
 
Gross profit
 
$
104,186,202
 
$
75,390,036
 
Selling and distribution expenses
 
 
39,067,566
 
 
29,837,757
 
General and administrative expenses
 
 
22,023,338
 
 
15,206,423
 
Research and development expenses
 
 
11,004,560
 
 
7,709,533
 
 
 
 
 
 
 
 
 
Other operating income, net
 
 
3,039,824
 
 
555,946
 
 
 
 
 
 
 
 
 
Income from operations
 
 
35,130,562
 
 
23,192,269
 
 
 
 
 
 
 
 
 
Interest income
 
 
232,466
 
 
1,047,667
 
Government grants
 
 
2,264,055
 
 
832,264
 
Other income
 
 
101,475
 
 
1,244,078
 
Interest expenses
 
 
(3,100,396)
 
 
(887,097)
 
Other expenses
 
 
(2,883,440)
 
 
(807,858)
 
Income before income tax expense
 
$
31,744,722
 
$
24,621,323
 
CAPITAL EXPENDITURE
 
 
 
 
 
 
 
Commercial vehicles brake systems
 
$
44,185,254
 
$
13,078,806
 
Passenger vehicles brake systems
 
 
8,074,065
 
 
2,810,887
 
 
 
 
 
 
 
 
 
Total
 
$
52,259,319
 
$
15,889,693
 
DEPRECIATION AND AMORTIZATION
 
 
 
 
 
 
 
Commercial vehicles brake systems
 
$
7,828,921
 
$
5,959,168
 
Passenger vehicles brake systems
 
 
1,430,595
 
 
1,280,740
 
 
 
 
 
 
 
 
 
Total
 
$
9,259,516
 
$
7,239,908
 
 
 
 
December 31, 2017
 
December 31, 2016
 
 
 
 
 
 
 
 
 
TOTAL ASSETS
 
 
 
 
 
 
 
Commercial vehicles brake systems
 
$
492,348,129
 
$
248,023,179
 
Passenger vehicles brake systems
 
 
89,967,813
 
 
53,304,945
 
 
 
 
 
 
 
 
 
Total
 
$
582,315,942
 
$
301,328,124
 
 
 
 
December 31, 2017
 
December 31, 2016
 
 
 
 
 
 
 
 
 
LONG LIVED ASSETS
 
 
 
 
 
 
 
Commercial vehicles brake systems
 
$
106,779,681
 
$
53,520,623
 
Passenger vehicles brake systems
 
 
19,512,076
 
 
11,748,429
 
 
 
 
 
 
 
 
 
Total
 
$
126,291,757
 
$
65,269,052