Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash $ 26,210,998 $ 12,752,272
Accounts receivable, net of allowance for doubtful accounts 14,021,982 49,999,712
Inventories 2,111,716 12,123,405
Prepaid expenses 4,613,297 32,913
Prepaid expenses - related parties 14,779,848 7,319,975
Deferred expenses - related parties 124,503 1,029,114
Other receivables 3,915 $ 22,656,232
Other receivables - related parties 13,631,586  
Total Current Assets 75,497,845 $ 105,913,623
OTHER ASSETS:    
Cost method investment 3,448,955 3,421,031
Equity method investment 57,150,748 15,964,812
Prepayment for long-term assets 15,286,965 13,750,102
Property, plant and equipment, net 104,103,998 109,980,617
Total Other Assets 179,990,666 143,116,562
Total Assets 255,488,511 249,030,185
CURRENT LIABILITIES:    
Accounts payable 1,216,532 1,181,977
Accounts payable - related parties $ 312,617 2,601,314
Advances from customers   164,724
Short-term bank loans $ 31,500,000 30,353,890
Long-term bank loans - current portion 13,286,690 18,868,616
Accrued liabilities and other payables 7,469,359 $ 5,602,307
Dividend payable 790,551  
Due to related parties 4,373,354 $ 2,373,352
Total Current Liabilities 58,949,103 61,146,180
OTHER LIABILITIES:    
Long-term bank loans - non-current portion 31,894,626 38,625,071
Total Liabilities 90,843,729 99,771,251
Equity attributable to owners of the company:    
Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 79,055,053 shares issued and outstanding at June 30, 2015 and December, 2014) 79,055 79,055
Additional paid-in capital 111,011,856 117,525,377
Retained earnings 26,475,860 21,315,710
Statutory reserve 6,412,892 6,412,892
Accumulated other comprehensive income 4,635,283 3,925,900
Total equity attributable to owners of the company 148,614,946 $ 149,258,934
Non-controlling interest 16,029,836  
Total Shareholders' Equity 164,644,782 $ 149,258,934
Total Liabilities and Shareholders' Equity $ 255,488,511 $ 249,030,185