Other Long-Term Loan

3 Months Ended

Dec. 31, 2012

Other Long-Term Loan [Text Block]

9 Other Long-term loans

As of December 31, 2012, the Company had interest-free advances of $2,517,644 from Tianjin Aifuyi Auto Parts. Co., Ltd and $5,135,366 from Tianjin Zhantuo International Trading Co., Ltd. Both companies are unrelated parties of the Company. The loans are non interest bearing, repayable by 2014 and unsecured except for the loan from Tianjin Zhantuo International Trading Co., Ltd. which was secured by the Company’s land use rights with a carrying amount of $5,087,131 (RMB31.6 million) as of December 31, 2012.

The aggregate maturities of other long-term loans as of December 31, 2012 are as follows:

Payable within fiscal year ending September 30,
-2013	$	-
-2014		7,653,010
- 2015 and thereafter		-
	$	7,653,010