XML 51 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 840,212 $ 2,554,262
Depreciation - property, plant and equipment 3,284,259 3,566,227
Amortization 14,448 15,249
Share-based compensation 432,316 432,316
Deferred income tax 33,418 (169,473)
Loss on disposal of fixed assets 6,142   
Adjustments to reconcile net income to net cash provided by operating activities:    
Accounts receivable 13,166 (610,942)
Inventories 13,391,747 7,934,102
Other receivables (3,591,849) 11,580,644
Prepaid expenses 1,036,426 (5,164)
Advances to suppliers 3,089,043 (598,759)
Accounts payable (940,910) (3,597,550)
Cash card and coupon liabilities 188,706 1,194,685
Customer deposits received (496,420) (310,921)
Accrued expenses and other payables 5,193,327 5,272,840
Income taxes payable (54,310) (1,284,241)
Net cash provided by operating activities 22,439,721 25,973,275
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (2,354,873) (7,775,089)
Decrease of restricted cash    41,960
Net cash used in investing activities (2,354,873) (7,733,129)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Bank loan repayment (3,164,707)   
Net cash used in financing activities (3,164,707)   
Effect of foreign currency translation 83,083 332,622
Net increase in cash 16,920,141 18,572,768
Cash - beginning of period 9,037,550 17,460,034
Cash - end of period 26,040,774 36,032,802
Supplemental disclosures of cash flow information:    
Interest paid 395,983 31,100
Income taxes paid $ 533,130 $ 2,562,939