v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Net sales $ 49,783,453 $ 41,866,848
Cost of sales (42,217,126) (31,932,014)
Gross profit 7,566,327 9,934,834
Research and development expenses (2,561,837) (1,813,930)
Selling and distribution expenses (1,975,096) (1,638,313)
General and administrative expenses (4,114,810) (3,058,562)
Foreign currency transaction loss (1,014,693) (313,878)
Total operating expenses (9,666,436) (6,824,683)
(Loss) income from operations (2,100,109) 3,110,151
Changes in fair value of warrant liability 0 (31,552)
Changes in fair value of foreign exchange derivatives 703,715 0
Government grants 329,820 349,515
Other income 23,561 228,578
Equity in earnings of investee 156,250 146,932
Interest expenses (241,852) (603,317)
(Loss) income before taxes (1,128,615) 3,200,307
Income taxes benefit (expense) 9,679 (587,765)
Net (loss) income (1,118,936) 2,612,542
Less: net income attributable to non-controlling interest 0 76,893
Net (loss) income attributable to the Company (1,118,936) 2,535,649
Comprehensive income    
Net (loss) income (1,118,936) 2,612,542
Foreign currency translation gain (loss) 2,836,556 (24,001)
Comprehensive income 1,717,620 2,588,541
Less: comprehensive income attributable to non-controlling interest 0 79,551
Comprehensive income attributable to the Company $ 1,717,620 $ 2,508,990
(Loss) earnings per share of common stock attributable to the Company    
- Basic $ (0.07) $ 0.17
- Diluted $ (0.07) $ 0.17
Weighted average number of common stock outstanding    
- Basic 15,509,658 15,119,693
- Diluted 15,509,658 15,299,029

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