Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash $ 19,325,657 $ 9,324,393
Restricted cash 15,918,318 11,213,640
Accounts receivable, net 42,737,207 46,280,769
Amount due from Yipeng 2,465,325 7,517,250
Notes receivable 2,192,197 1,093,730
Prepayments and other receivables 10,922,029 6,899,872
Inventories 32,488,267 22,207,333
Total Current Assets 126,049,000 104,536,987
Property, plant and equipment, net 46,167,556 43,504,991
Land use right, net 3,670,645 3,622,435
Other assets 475,000 500,000
Deferred tax assets 1,248,226 1,477,761
Long-term investment 10,540,473 9,689,576
TOTAL ASSETS 188,150,900 163,331,750
Current Liabilities:    
Accounts payable 49,132,387 49,463,901
Deferred income 892,154 761,491
Short-term loans 19,329,517 18,776,080
Non-financial institution borrowings 11,804,285 3,741,115
Notes payable 41,373,724 30,658,000
Amount due to Yipeng 62,204 1,522,313
Other payables and accrued liabilities 9,249,029 11,148,556
Income taxes payable 1,782,786 1,963,298
Total Current Liabilities 133,626,086 118,034,754
Warrant Liability 0 259
TOTAL LIABILITIES 133,626,086 118,035,013
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, 15,356,560 shares issued and outstanding at June 30, 2017 and 15,114,991 shares issued and outstanding at December 31, 2016) 1,536 1,511
Additional paid-in capital 12,249,531 11,580,934
Statutory and other reserves 4,992,463 4,992,463
Retained earnings 36,172,954 29,266,068
Accumulated other comprehensive income (loss) 600,641 (873,582)
Total equity attributable to the stockholders of Highpower International Inc. 54,017,125 44,967,394
Non-controlling interest 507,689 329,343
TOTAL EQUITY 54,524,814 45,296,737
TOTAL LIABILITIES AND EQUITY $ 188,150,900 $ 163,331,750