v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 18,092,242 $ 24,916,484
Restricted cash 29,154,304 44,495,633
Accounts receivable, net 68,999,026 77,279,817
Amount due from a related party 146,119 477,663
Notes receivable 3,664,108 256,712
Advances to suppliers 463,891 2,292,843
Prepayments and other receivables 6,419,803 10,457,789
Inventories 51,980,426 54,790,461
Total Current Assets 178,919,919 214,967,402
Property, plant and equipment, net 65,089,990 56,523,177
Long-term prepayments 2,373,543 2,617,419
Land use right, net 2,406,173 2,445,751
Other assets 770,717 643,128
Deferred tax assets, net 935,443 865,370
Long-term investments 8,387,618 9,993,852
Right-of-use assets 10,213,704 0
TOTAL ASSETS 269,097,107 288,056,099
Current Liabilities:    
Accounts payable 64,413,566 66,486,690
Deferred government grants 680,915 464,206
Short-term loans 24,662,933 24,856,744
Non-financial institution borrowing 0 8,761,426
Notes payable 60,168,272 73,607,284
Foreign exchange derivative liabilities 932,378 521,509
Amount due to related parties 101,869 6,116,851
Other payables and accrued liabilities 21,818,077 25,860,703
Income taxes payable 3,394,112 4,124,719
Lease liabilities, current 2,334,110 0
Total Current Liabilities 178,506,232 210,800,132
Long-term payable 359,033  
Lease liabilities, non current 8,040,487 0
TOTAL LIABILITIES 186,905,752 210,800,132
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 June 30, 2019 and 15,559,658 at December 31, 2018, respectively) 1,557 1,556
Additional paid-in capital 14,257,469 13,863,282
Statutory and other reserves 8,012,052 8,012,052
Retained earnings 61,169,856 56,173,912
Accumulated other comprehensive loss (1,249,579) (794,835)
TOTAL EQUITY 82,191,355 77,255,967
TOTAL LIABILITIES AND EQUITY $ 269,097,107 $ 288,056,099

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