Annual report pursuant to Section 13 and 15(d)

Lines of credit (Tables)

v3.7.0.1
Lines of credit (Tables)
12 Months Ended
Dec. 31, 2016
Lines of credit [Abstract]  
Schedule of Line of Credit Facilities [Table Text Block]
The Company entered into various credit contracts and revolving lines of credit, which were used for short-term loans (See Note 14) and bank acceptance bills (See Note 13). The following tables summarize the unused lines of credit as of December 31, 2016 and 2015:
 
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
Unused line of
 
Lender
 
Starting date
 
Maturity date
 
Line of credit
 
credit
 
 
 
 
 
 
 
$
 
$
 
Bank of China (1)
 
7/11/2016
 
7/11/2019
 
 
12,590,290
 
 
1,444,934
 
China Everbright Bank Co., Ltd. (1)
 
12/28/2016
 
12/27/2017
 
 
7,194,452
 
 
7,194,452
 
Industrial and Commercial Bank of China (1)
 
7/1/2016
 
6/30/2017
 
 
7,194,452
 
 
4,316,671
 
China Minsheng Banking Corp., Ltd. (1)
 
11/1/2016
 
11/1/2017
 
 
3,597,226
 
 
287,778
 
Bank of China (1)
 
7/12/2016
 
7/12/2019
 
 
10,483,344
 
 
111
 
Industrial Bank Co., Ltd. (1)
 
10/28/2016
 
10/28/2017
 
 
7,194,452
 
 
2,409,882
 
Hua Xia Bank Co., Ltd. (2)
 
6/1/2016
 
6/1/2017
 
 
4,316,671
 
 
2,298,681
 
Bank of China (1)
 
7/25/2016
 
7/25/2019
 
 
3,837,041
 
 
124,892
 
Hongkong and Shanghai Banking Corporation Limited (1)
 
8/26/2016
 
7/15/2017
 
 
4,000,000
 
 
4,000,000
 
Total
 
 
 
 
 
 
60,407,928
 
 
22,077,401
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
Unused line of
 
Lender
 
Starting date
Maturity date
 
Line of credit
 
credit
 
 
 
 
 
 
$
 
$
 
Bank of China (1)
 
7/13/2015
 
 
9/13/2016
 
 
13,762,455
 
 
4,707,595
 
Bank of China (1)
 
7/1/2015
 
 
6/30/2016
 
 
11,203,276
 
 
155,498
 
Ping An Bank Co., Ltd.
 
12/10/2015
 
 
12/9/2016
 
 
10,763,931
 
 
3,878,818
 
China Minsheng Banking Corp., Ltd. (1)
 
7/16/2015
 
 
7/16/2016
 
 
4,393,441
 
 
1,916,253
 
Industrial Bank Co., Ltd. (1)
 
7/15/2015
 
 
7/15/2016
 
 
9,226,227
 
 
7,079,785
 
China Everbright Bank Co., Ltd. (1)
 
6/23/2015
 
 
6/22/2016
 
 
7,688,523
 
 
3,647,289
 
Industrial and Commercial Bank of China (1)
 
10/1/2015
 
 
10/1/2016
 
 
7,688,523
 
 
4,613,113
 
Jiang Su Bank Co., Ltd.
 
11/4/2015
 
 
11/3/2016
 
 
2,306,557
 
 
995,703
 
Hongkong and Shanghai Banking Corporation Limited (1)
 
9/1/2015
 
 
7/15/2016
 
 
8,000,000
 
 
8,000,000
 
Total
 
 
 
 
 
 
 
75,032,933
 
 
34,994,054
 
 
(1)
The lines of credits are guaranteed by the Company’s Chief Executive Officer, Mr. Dang Yu Pan.
(2)
The lines of credit is guaranteed by the Company’s Chief Executive Officer, Mr. Dang Yu Pan, and his wife.