Related Party Transactions (Details Textual)
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1 Months Ended | 3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2012
USD ($)
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Mar. 31, 2012
CNY
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Jun. 30, 2012
USD ($)
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Jun. 30, 2011
USD ($)
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Jun. 30, 2012
USD ($)
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Jun. 30, 2012
CNY
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Jun. 30, 2011
USD ($)
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Jun. 30, 2011
CNY
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Dec. 31, 2009
USD ($)
|
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Related Party Transactions (Textual) | |||||||||
Transaction cost related to sale and repurchase of raw material | $ 1,100,000 | 7,500,000 | |||||||
Purchase of raw materials from Related Party | 79,413 | 948,146 | 714,022 | 1,059,091 | |||||
Sub-contracts with related parties | 2,597,793 | 2,458,327 | 5,423,363 | 3,998,745 | |||||
Service fee in percentage of export sales manufactured overseas | 3.00% | 3.00% | |||||||
Service fee in percentage of export sales manufactured in China | 1.00% | 1.00% | |||||||
Related party, account settlement period, minimum | 60 days | 60 days | |||||||
Related party, account settlement period, maximum | 90 days | 90 days | |||||||
Description of counter agreement to Jiangsu Ever-glory | Company agreed to provide Jiangsu Ever-Glory a counter-guarantee in the form of cash of not less than 70% of the maximum aggregate lines of credit obtained by the Company. | Company agreed to provide Jiangsu Ever-Glory a counter-guarantee in the form of cash of not less than 70% of the maximum aggregate lines of credit obtained by the Company. | |||||||
Interest rate charged on amount due under counter guarantee | 6.00% | 6.00% | |||||||
Counter guarantee provided by guarantors | 27,210,000 | 27,210,000 | 172,000,000 | ||||||
Ownership percentage of Nanjing Knitting in Jiangsu Ever-Glory | 20.31% | 20.31% | 20.31% | ||||||
Value of collateral as per bank valuations | 11,940,000 | 75,000,000 | |||||||
Personal guarantee provided by chairman (Mr. Kang) | 21,990,000 | 139,000,000 | |||||||
Counter guarantee provided by company | 11,800,000 | 74,600,000 | |||||||
Interest charged on net amounts due | 0.50% | 0.50% | |||||||
Interest income, Related Party | 290,559 | 120,379 | 563,295 | 139,495 | |||||
Loan from related party | $ 1,000,000 | ||||||||
Loan from Related Party, Interest rate | 6.00% | 6.00% |