Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
|
| Statements of Income and Comprehensive Income [Abstract] | ||||
| REVENUE | $ 1,168,946 | $ 2,740,981 | $ 7,388,395 | $ 46,727,808 |
| COST OF REVENUE | 13,481,775 | 9,248,696 | 26,054,703 | 40,562,651 |
| GROSS (LOSS) PROFIT | (12,312,829) | (6,507,715) | (18,666,308) | 6,165,157 |
| OPERATING EXPENSES: | ||||
| Selling | 93,843 | 312,574 | 508,062 | 1,309,859 |
| General and administrative | 660,700 | 733,923 | 3,038,984 | 2,547,225 |
| Total Operating Expenses | 754,543 | 1,046,497 | 3,547,046 | 3,857,084 |
| (LOSS) INCOME FROM OPERATIONS | (13,067,372) | (7,554,212) | (22,213,354) | 2,308,073 |
| OTHER INCOME (EXPENSE): | ||||
| Interest income | 782 | 10,875 | 4,051 | 98,894 |
| Interest expense | (738,548) | (817,321) | (1,656,672) | (2,856,516) |
| Foreign currency transaction loss | (86,414) | (774,934) | (542,694) | (714,620) |
| Grant income | 31,691,166 | 153,514 | 31,691,166 | |
| Gain (loss) from cost method investment | (3,264) | 378,997 | 417,434 | |
| Loss on equity method investment | (6,968) | (34,187) | (25,095) | (37,545) |
| Loss on fixed assets disposal | (1,544,277) | |||
| Other (expense) income | (59) | 1 | (476) | (212) |
| Total Other (Expense) Income, net | (831,207) | 30,072,336 | (1,688,375) | 27,054,324 |
| (LOSS) INCOME BEFORE INCOME TAXES | (13,898,579) | 22,518,124 | (23,901,729) | 29,362,397 |
| INCOME TAXES | 993 | |||
| NET (LOSS) INCOME | (13,898,579) | 22,518,124 | (23,902,722) | 29,362,397 |
| LESS: NET (LOSS) INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST | (1,075,177) | 1,834,497 | (1,750,492) | 1,925,443 |
| NET (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY | (12,823,402) | 20,683,627 | (22,152,230) | 27,436,954 |
| COMPREHENSIVE (LOSS) INCOME: | ||||
| NET (LOSS) INCOME | (13,898,579) | 22,518,124 | (23,902,722) | 29,362,397 |
| OTHER COMPREHENSIVE LOSS | ||||
| Unrealized foreign currency translation loss | (459,166) | (6,948,652) | (3,831,852) | (5,848,277) |
| COMPREHENSIVE (LOSS) INCOME | (14,357,745) | 15,569,472 | (27,734,574) | 23,514,120 |
| LESS: COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO THE NON-CONTROLLING INTEREST | (1,111,153) | 1,277,639 | (2,054,095) | 1,600,169 |
| COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY | $ (13,246,592) | $ 14,291,833 | $ (25,680,479) | $ 21,913,951 |
| NET (LOSS) INCOME PER ORDINARY SHARE ATTRIBUTABLE TO OWNERS OF THE COMPANY | ||||
| Basic and diluted | $ (0.16) | $ 0.26 | $ (0.28) | $ 0.35 |
| WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING: | ||||
| Basic and diluted | 79,055,053 | 79,055,053 | 79,055,053 | 79,055,053 |
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This item represents the gain (loss) realized during the period from the sale of investments accounted for under the cost method of accounting and any losses recognized thereon for impairments of other than a temporary nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before tax of foreign currency transaction unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Revenue earned during the period from non-repayable sum of money awarded to an entity to carry out a specific purpose as provided in grant agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
|
| X | ||||||||||
- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
|