v3.19.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 24,167,300 $ 24,916,484
Restricted cash 39,562,823 44,495,633
Accounts receivable, net 59,037,769 77,279,817
Amount due from a related party 61,131 477,663
Notes receivable 4,375,399 256,712
Advances to suppliers 926,624 2,292,843
Prepayments and other receivables 8,282,896 10,457,789
Inventories 58,456,282 54,790,461
Total Current Assets 194,870,224 214,967,402
Property, plant and equipment, net 68,148,472 56,523,177
Long-term prepayments 1,949,214 2,617,419
Land use right, net 2,476,691 2,445,751
Other assets 635,015 643,128
Deferred tax assets, net 983,879 865,370
Long-term investments 9,768,087 9,993,852
Right-of-use assets 5,272,558 0
TOTAL ASSETS 284,104,140 288,056,099
Current Liabilities:    
Accounts payable 68,943,619 66,486,690
Deferred government grants 473,111 464,206
Short-term loans 17,749,981 24,856,744
Non-financial institution borrowing 0 8,761,426
Notes payable 75,053,041 73,607,284
Foreign exchange derivative liabilities 2,240 521,509
Amount due to related parties 9,011,760 6,116,851
Other payables and accrued liabilities 23,733,687 25,860,703
Income taxes payable 4,246,421 4,124,719
Lease liabilities, current 1,866,177 0
Total Current Liabilities 201,080,037 210,800,132
Lease liabilities, non current 3,550,051 0
TOTAL LIABILITIES 204,630,088 210,800,132
COMMITMENTS AND CONTINGENCIES
Stockholders' equity    
Preferred stock (Par value: $0.0001, Authorized: 10,000,000 shares, Issued and outstanding: none) 0 0
Common stock (Par value: $0.0001, Authorized: 100,000,000 shares, 15,567,953 shares issued and outstanding at March 31, 2019 and 15,559,658 at December 31, 2018, respectively) 1,557 1,556
Additional paid-in capital 14,067,883 13,863,282
Statutory and other reserves 8,012,052 8,012,052
Retained earnings 56,481,633 56,173,912
Accumulated other comprehensive income (loss) 910,927 (794,835)
TOTAL EQUITY 79,474,052 77,255,967
TOTAL LIABILITIES AND EQUITY $ 284,104,140 $ 288,056,099

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