v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash $ 7,280,576 $ 14,502,171
Restricted cash 30,159,389 25,953,946
Accounts receivable, net 61,440,575 58,252,999
Amount due from a related party 432,320 1,165,838
Notes receivable 1,611,947 2,606,517
Advances to suppliers 8,031,483 6,050,531
Prepayments and other receivables 9,401,564 4,268,527
Foreign exchange derivative assets 0 236,436
Inventories 69,200,672 42,946,644
Total Current Assets 187,558,526 155,983,609
Property, plant and equipment, net 48,135,151 46,520,776
Long-term prepayments 3,992,080 3,715,445
Land use rights, net 2,564,161 2,639,631
Other assets 747,186 748,431
Deferred tax assets, net 1,219,521 750,267
Long-term investments 10,790,882 9,906,379
TOTAL ASSETS 255,007,507 220,264,538
Current Liabilities:    
Accounts payable 80,534,723 60,368,012
Deferred government grant 758,059 309,638
Short-term loans 25,080,521 10,128,646
Non-financial institution borrowings 9,069,335 10,756,158
Notes payable 51,710,779 54,859,478
Foreign exchange derivative liabilities 689,790 0
Amount due to a related party 423,236 0
Other payables and accrued liabilities 15,338,570 12,243,345
Income taxes payable 3,225,973 3,609,391
Total Current Liabilities 186,830,986 152,274,668
Income taxes payable, noncurrent 0 777,685
TOTAL LIABILITIES 186,830,986 153,052,353
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, 15,559,658 shares issued and outstanding at June 30, 2018 and 15,509,658 at December 31, 2017, respectively) 1,556 1,551
Additional paid-in capital 13,410,368 12,709,756
Statutory and other reserves 6,549,815 6,549,815
Retained earnings 46,076,947 44,481,568
Accumulated other comprehensive income 2,137,835 3,469,495
TOTAL EQUITY 68,176,521 67,212,185
TOTAL LIABILITIES AND EQUITY $ 255,007,507 $ 220,264,538

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