Pingtan Marine Enterprise (PME) 10-K/A10 Nov 142013 FY Annual report (amended)Financial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Mar. 10, 2014	Jun. 29, 2013
Document Information [Line Items]	'	'	'
Entity Registrant Name	'Pingtan Marine Enterprise Ltd.	'	'
Entity Central Index Key	'0001517130	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Accelerated Filer	'	'
Trading Symbol	'PME	'	'
Entity Common Stock, Shares Outstanding	'	79,055,053	'
Document Type	'10-K	'	'
Amendment Flag	'true	'	'
Document Period End Date	31-Dec-13	'	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2013	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Public Float	'	'	$127.30
Amendment Description	'This Amendment No. 1 on Form 10-K/A (this “Amendment”) of Pingtan Marine Enterprise Ltd. (“PME” or the “Company”) for the period ended December 31, 2013 is amending the Annual Report on Form 10-K originally filed with the U.S. Securities and Exchange Commission (“SEC”) on March 10, 2014 (the “Original Report”). We are filing this Amendment to reflect the restatement of our audited consolidated financial statements contained herein for the years ended December 31, 2013 and 2012. We incorrectly reflected certain balances of China Growth Equity Investments Ltd. in our consolidated financial statements that should have been reflected as part of the recapitalization of the Company on the effective date of the share exchange agreement dated February 25, 2013. Accordingly, we amended our consolidated financial statements for the years ended December 31, 2013 and 2012 to reflect the historical consolidated financial statements of China Dredging Group Co., Ltd. (”CDGC”) and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013 and the consolidated financial statements of PME, CDGC and Merchant Supreme and related subsidiaries for all periods subsequent to the effective date. Additionally, we restated the following in our consolidated financial statements for the year ended December 31, 2013: a) We incorrectly accounted for prepaid operating license rights for 20 vessels at its appraised fair value in Original Report. The management concluded that prepaid operating license rights should be considered a capital lease and recorded at the historical cost of the vessels to the related party which is under common control and considered a common control transaction in accordance with ASC 805-50. We restated prepaid operating license rights, property, plant and equipment, related depreciation and amortization expense, and reflected any excess amounts paid for the operating rights as a capital distribution; b) We further clarified certain disclosure related to the acquisition of 46 vessels from a related party in June 2013 and disclosure related to the acquisition of operating license rights of 20 vessels from a related party in December 2013; and c) We recorded other miscellaneous adjustments. Item 15. under Note 23 “Restatement” in the Notes to Consolidated Financial Statements of this Form 10-K/A provides a discussion of the full effects of the restatements to the Company’s previously reported Consolidated Balance Sheets, Consolidated Statements of Income and Comprehensive Income, and Consolidated Statement of Cash Flows. In addition, this Amendment which replaces in its entirety Items 1 through 15 of the Original Filing, is in response to and to revise certain disclosures pursuant to the comment letters we received from the SEC, dated August 6, 2014 and September 10, 2014, respectively. This Amendment also contains currently dated certifications as Exhibits 31.1, 31.2 and 32.1. No attempt has been made in this Amendment to modify or update the other disclosures presented in the report as previously filed, except as set forth herein. This Amendment does not reflect events occurring after the filing of the Original Report or modify or update those disclosures that may be affected by subsequent events. Accordingly, this Amendment should be read in conjunction with our other filings with the SEC made by the Company with the SEC pursuant to Section 13(a) or Section 15(d) of the Exchange Act subsequent to the filing of the Original Filing.	'	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
Current assets	'	'
Cash	$8,156,599	$6,860,785
Notes receivable (banker's acceptances) transferred from related parties	0	3,645,817
Accounts receivable	9,133,130	11,478,436
Inventories	9,095,736	194,331
Prepaid expenses	4,309,574	386,966
Other receivables	11,665	29,885
Advances to related parties	0	49,802,821
Assets of discontinued operations	0	361,460,444
Total current assets	30,706,704	433,859,485
Other assets	'	'
Long-term investment	3,468,953	3,328,789
Deposit on potential Joint Venture	0	6,090,302
Prepaid fixed asset deposits	33,985,148	0
Property, plant and equipment, net	101,970,707	37,748,241
Total other assets	139,424,808	47,167,332
Total assets	170,131,512	481,026,817
Current liabilities	'	'
Accounts payable - third parties	2,184,964	70,732
Accounts payable - related parties	13,807,605	5,765,632
Receipt in advance - third parties	297,034	0
Receipt in advance - related parties	0	12,681,102
Short-term loans	9,085,353	25,169,260
Long-term loans - current portion	20,252,077	8,094,308
Accrued liabilities and other payables	4,643,272	1,033,766
Advances from related parties	0	153,961
Deferred income	520,045	0
Liabilities of discontinued operations	0	14,052,751
Total current liabilities	50,790,350	67,021,512
Other liabilities	'	'
Long-term loans, net of current portion	54,499,727	16,689,321
Total other liabilities	54,499,727	16,689,321
Total liabilities	105,290,077	83,710,833
Shareholders' equity	'	'
Ordinary shares, 225,000,000 shares authorized with $0.001 per share; 79,055,053 shares and 77,215,000 issued and outstanding as of December 31, 2013 and 2012, respectively	79,055	77,215
Additional paid-in capital	117,525,377	135,427,182
Statutory reserves	6,412,892	19,421,017
Retained earnings (deficit)	-63,654,445	220,196,974
Accumulated other comprehensive income	4,478,556	22,193,596
Total shareholders' equity	64,841,435	397,315,984
Total liabilities and shareholders' equity	$170,131,512	$481,026,817

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Dec. 31, 2013	Dec. 31, 2012
Ordinary shares, par value (in dollars per share)	$0.00	$0.00
Ordinary shares, shares authorized	225,000,000	225,000,000
Ordinary shares, shares issued	79,055,053	77,215,000
Ordinary shares, shares outstanding	79,055,053	77,215,000

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME (USD $)	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Revenue	$122,667,769		$67,461,468		$25,600,636
Cost of revenue	-74,983,290		-41,570,472		-14,600,579
Gross profit	47,684,479		25,890,996		11,000,057
Selling and marketing expenses	-1,618,278		-647,850		-383,472
General and administrative expenses	-3,191,637		-463,501		-251,343
Operating income	42,874,564		24,779,645		10,365,242
Other income/(expense)	'		'		'
Investment income	69,519		15,138		0
Interest income	8,250		3,276		2,349
Interest expenses	-3,301,696		-2,876,253		-844,650
Subsidy income	7,338,273		2,363,575		830,446
Sundry income	2,144		0		0
Gain/(loss) on foreign exchange, net	144,740		-5,113		86,950
Total other income/(expense)	4,261,230		-499,377		75,095
Income from continuing operations before income taxes	47,135,794		24,280,268		10,440,337
Income tax expense	0		0		0
Net income from continuing operations	47,135,794		24,280,268		10,440,337
Net income from discontinued operations, net of income tax expense	51,910,662	[1]	84,494,428	[1]	90,257,249	[1]
Consolidated net income	$99,046,456	[1]	$108,774,696		$100,697,586
Basic and diluted earnings per share	'		'		'
- Net income (in dollars per share)	$1.26		$1.41		$1.31
Weighted average number of ordinary shares outstanding	'		'		'
- Basic and diluted (in shares)	78,772,743		77,215,000		77,215,000
Continuing Operations [Member]	'		'		'
Basic and diluted earnings per share	'		'		'
- Net income (in dollars per share)	$0.60		$0.32		$0.14
Discontinued Operations [Member]	'		'		'
Basic and diluted earnings per share	'		'		'
- Net income (in dollars per share)	$0.66		$1.09		$1.17

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	12 Months Ended
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	Dec. 31, 2013		Dec. 31, 2012	Dec. 31, 2011
Net income	$99,046,456	[1]	$108,774,696	$100,697,586
Other comprehensive income	'		'	'
Foreign currency translation gain	8,195,045		4,113,599	11,654,835
Unrealized change in fair value of available-for-sale investment	0		-717	0
Total comprehensive income	$107,241,501		$112,887,578	$112,352,421

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)	Total		Common Stock [Member]	Additional Paid-in Capital [Member]	Statutory Reserves [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2010	$172,075,985		$77,215	$135,427,182	$10,646,964	$19,498,745	$6,425,879
Balance (in shares) at Dec. 31, 2010	'		77,215,000	'	'	'	'
Net income	100,697,586		0	0	0	100,697,586	0
Appropriation to statutory reserves	0		0	0	6,250,501	-6,250,501	0
Foreign currency translation gain	11,654,835		0	0	0	0	11,654,835
Balance at Dec. 31, 2011	284,428,406		77,215	135,427,182	16,897,465	113,945,830	18,080,714
Balance (in shares) at Dec. 31, 2011	'		77,215,000	'	'	'	'
Net income	108,774,696		0	0	0	108,774,696	0
Appropriation to statutory reserves	0		0	0	2,523,552	-2,523,552	0
Foreign currency translation gain	4,112,882		0	0	0	0	4,112,882
Balance at Dec. 31, 2012	397,315,984		77,215	135,427,182	19,421,017	220,196,974	22,193,596
Balance (in shares) at Dec. 31, 2012	'		77,215,000	'	'	'	'
Net income	99,046,456	[1]	0	0	0	99,046,456	0
Shares effectively issued to former shareholders as part of the recapitalization	3,589,337		1,840	3,587,497	0	0	0
Shares effectively issued to former shareholders as part of the recapitalization (in shares)	'		1,840,053	'	'	'	'
Appropriation to statutory reserves	0		0	0	3,024,131	-3,024,131	0
Foreign currency translation gain	8,195,045		0	0	0	0	8,195,045
Disposal of China Dredging Group Co., Ltd.	-54,974,593		0	117,525,377	-16,032,256	-130,557,629	-25,910,085
Acquisition of fishing vessels from related party	-388,330,794		0	-139,014,679	0	-249,316,115	0
Balance at Dec. 31, 2013	$64,841,435		$79,055	$117,525,377	$6,412,892	($63,654,445)	$4,478,556
Balance (in shares) at Dec. 31, 2013	'		79,055,053	'	'	'	'

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Cash flows from operating activities	'		'		'
Net income	$99,046,456	[1]	$108,774,696		$100,697,586
Discontinued operations, net of tax	-51,910,662	[1]	-84,494,428	[1]	-90,257,249	[1]
Income from continuing operations	47,135,794		24,280,268		10,440,337
Adjustments to reconcile net income to net cash provided by operating activities	'		'		'
Depreciation of property, plant and equipment	2,394,692		2,677,418		1,917,747
Available-for-sales financial instrument fair value adjustment	0		0		705
Short term investment income	0		-15,860		0
Changes in operating assets and liabilities	'		'		'
Accounts receivable - third parties	2,788,320		-10,562,176		1,627,853
Accounts receivable - related parties	0		4,584,509		-3,426,607
Notes receivable (banker's acceptances)	3,745,196		0		0
Other receivables	19,201		6,797,156		-323,246
Prepaid expenses	-1,925,477		-218,759		-157,077
Inventories	-8,766,511		2,397,340		-1,848,587
Accounts payable - third parties	2,081,172		-43,377		-73,055
Accounts payable - related parties	13,944,394		3,060,668		-1,423,494
Receipt in advance	292,802		-1,160,618		771,142
Accrued liabilities and other payables	3,583,989		777,587		204,254
Net cash provided by operating activities from continuing operations	52,266,802		45,249,230		7,709,972
Cash flows from investing activities	'		'		'
Payment for long term investment	0		-2,661,766		-649,752
Proceeds from disposition of / (payment for) short-term investment	0		808,052		-774,220
Proceeds from deferred income	8,320,882		0		0
Payment for fixed asset deposits	-1,901,220		0		0
Purchase of property, plant and equipment	-257,701,854		-33,992,757		-7,086,080
Advance to related parties	-312,569		-41,505,027		-21,574,926
Decrease in cash related to sale of subsidiary	-84,917,899		0		0
Net cash used in investing activities from continuing operations	-336,512,660		-77,351,498		-30,084,978
Cash flows from financing activities	'		'		'
Proceeds from short-term loans	43,713,708		51,384,055		21,337,156
Repayment of short-term loans	-64,358,336		-48,079,121		-10,055,693
Proceeds from long-term loans	55,811,568		26,617,656		0
Repayment of long-term loans	-7,584,023		-1,845,808		0
Cash acquired in recapitalization	3,565,355		0		'
Advance from related parties, net of reception in form of note receivable	-777		9,075,004		12,361,389
Net cash provided by financing activities from continuing operations	31,147,495		37,151,786		23,642,852
Cash flow from discontinued operations	'		'		'
Net cash provided by operating activities from discontinued operations	79,605,841		92,587,488		67,151,092
Net cash provided by/(used in) investing activities from discontinued operations	7,099,979		-42,204,987		-47,811,882
Net cash (used in)/provided by financing activities from discontinued operations	-407,030		560,216		12,408
Net cash provided by discontinued operations	86,298,790		50,942,717		19,351,618
Effect of exchange rate	3,032,812		1,726,785		4,565,872
Net (decrease)/increase in cash	-163,766,761		57,719,020		25,185,336
Cash at the beginning of year	171,923,360	[2],[3]	114,204,340	[2],[3]	89,019,004	[2]
Cash at the end of year	8,156,599	[3]	171,923,360	[2],[3]	114,204,340	[2],[3]
Supplemental disclosure of non-cash transaction eliminated in above:	'		'		'
Purchase of property and equipment pursuant to capital lease	26,435,403		0		0
Purchase of property, plant and equipment by setting off advances to related parties	55,064,953		0		0
Deposit on setting up Joint Venture netted of accounts payable - related party	6,090,302		0		0
Discontinued Operations [Member]	'		'		'
Supplemental disclosure of cash flow information:	'		'		'
Income tax paid	17,278,643		29,324,336		26,956,670
Continuing Operations [Member]	'		'		'
Supplemental disclosure of cash flow information:	'		'		'
Interest paid	4,060,069		3,428,193		952,200
Related Party [Member]	'		'		'
Changes in operating assets and liabilities	'		'		'
Receipt in advance	($13,026,770)		$12,675,074		$0

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.
[2]	Includes cash and cash equivalents of discontinued operations of $165,062,575, $112,409,544 and $88,532,472 at the beginning of the year in 2013, 2012 and 2011, respectively.
[3]	Includes cash and cash equivalents of discontinued operations of $nil, $165,062,575 and $112,409,544 as of December 31, 2013, 2012 and 2011, respectively.

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS [Parentethical] (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Cash at the beginning of period From discontinuing operations	$165,062,575	$112,409,544	$88,532,472
Cash at the ending of period From discontinuing operations	0	165,062,575	112,409,544
Accretion of Discount on Class A Preferred Stock	$6,135,012	'	'

DESCRIPTION_OF_BUSINESS_AND_OR

DESCRIPTION OF BUSINESS AND ORGANIZATION	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Business Description and Basis of Presentation [Text Block]	'
		1	DESCRIPTION OF BUSINESS AND ORGANIZATION

	China Equity Growth Investment Ltd. ("CGEI") incorporated in the Cayman Islands as an exempted limited liability company, was incorporated as a blank check company on January 18, 2010 with the purpose of directly or indirectly acquiring, through a merger, share exchange, asset acquisition, plan of arrangement, recapitalization, reorganization or similar business combination, an operating business, or control of such operating business through contractual arrangements, that has its principal business and/or material operations located in the PRC. In connection with its initial business combination, CGEI changed its name to Pingtan Marine Enterprise Ltd. (“the Company” or “PME”) in February 2013.

	China Dredging Group Co., Ltd (“CDGC” or “China Dredging”) and Merchant Supreme Co., Ltd (“Merchant Supreme”) are limited liability companies incorporated on April 14, 2010 and June 25, 2012, respectively, in British Virgin Island (“BVI”).

	Merchant Supreme, through its PRC Variable Interest Entity (“VIE”), Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd. (“Pingtan Fishing”) engages in ocean fishery with its owned and licensed vessels within Indian EEZ and Arafura Sea of Indonesia. Pingtan Fishing is ranked highly as one of the leading private (not state-owned) supplier and trader of oceanic aquatic products in PRC.

	CGEI and CDGC entered into the Merger Agreement dated October 24, 2012, providing for the combination of CGEI and CDGC. Pursuant to the Merger Agreement, CDGC continued as the surviving company and a wholly-owned subsidiary of CGEI. CGEI also acquired all of the outstanding capital shares and other equity interests of Merchant Supreme as per Share Purchase Agreement dated October 24, 2012. Following the completion of the business combination which became effective on February 25, 2013, CDGC and Merchant Supreme became the wholly-owned subsidiaries of the Company. The ordinary shares, par value $0.001 per share are listed on The NASDAQ Capital Market under the symbol “PME”.

	On June 19, 2013, the Company entered into a master agreement with a related company, Fuzhou Honglong Ocean Fishery Co., Ltd (“Hong Long”) to acquire 46 fishing vessels with total consideration of $410.1 million representing the fair market value on the date of acquisition. The major shareholder of Hong Long is Ms. Ping Lin, spouse of Xinrong Zhuo (“Mr. Zhuo”), the Company’s Chairman and CEO, who holds 66.5% whereas the remaining two shareholders, Mr. Zhuo’s cousins, hold 33.5%. Mr. Zhuo currently holds about 56.2% of PME. The transaction between PME and Hong Long is accounted as common control transaction. Based on Accounting Standards Codification ("ASC") 805-50, PME recorded the value of $21.8 million as the cost of the vessels which was the net carrying amount recorded in Hong Long's books at the date of transfer. The balance of $388.3 million above cost was treated as a return of capital in the equity accounts. $249.3 million was recorded as a reduction in retained earnings and the balance of $139.0 million applied to additional paid-in capital.

	On December 4, 2013, in connection with the sale of CDGC, the Company and Hong Long entered into an agreement whereby Hong Long assigned its operating rights of 20 vessels for a period of 25 years pursuant to a license agreement to Pingtan Fishing. Subsequent to the licensing of the operating rights, Pingtan Fishing is entitled to 100% operation and operating results from vessels from September 1, 2013 onwards. Hong Long was not able to transfer ownership of these 20 vessels to the Company since Hong Long received subsidies from China’s central government budget in 2012 for the construction of these 20 vessels and Hong Long received notification from the Government prohibiting the sale or transfer of ownership of these vessels for a period of 10 years for fishing vessels that have received such subsidies.

	On December 4, 2013, the Company completed the sale of CDGC and its subsidiaries. (See Note 2)

	Details of the Company’s subsidiaries and VIEs which are included as continuing operations in these consolidated financial statements as of December 31, 2013 are as follows:

	Name of subsidiaries		Place and date of	Percentage of ownership	Principal activities
			incorporation

	Merchant Supreme		BVI,	100% held by PME	Intermediate holding company
	Co., Ltd. (“Merchant		25-Jun-12
	Supreme”)

	Prime Cheer		Hong Kong,	100% held by Merchant	Intermediate holding company
	Corporation Ltd.		3-May-12	Supreme
	(“Prime Cheer”)

	Pingtan Guansheng		PRC,	100% held by Prime Cheer	Intermediate holding company
	Ocean Fishing Co.,		12-Oct-12
	Ltd. ("Pingtan
	Guansheng")

	The following wholly owned or majority owned VIE’s are consolidated into financial statements.

	Name of VIEs

	Fujian Provincial Pingtan County Fishing Group Co., Ltd. (“Pingtan Fishing”)
	Pingtan Dingxin Fishing Information Consulting Co., Ltd. (“Pingtan Dingxin”)
	Pingtan Duoying Fishing Information Consulting Co., Ltd. (“Pingtan Duoying”)
	Pingtan Ruiying Fishing Information Consulting Co., Ltd. (“Pingtan Ruiying”)

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
DISCONTINUED OPERATIONS	Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	'
		2	DISCONTINUED OPERATIONS

	In order to place increased focus on fishing business and pursue more effective growth opportunities, the Company decided to exit and sell the specialized dredging services currently operated by China Dredging to its affiliate, Hong Long, and the sale was completed on December 4, 2013 with payment in kind consideration of $543.8 million. Pursuant to ASC Topic 205-20, Presentation of Financial Statements-Discontinued Operations, the business of CDGC is considered as a discontinued operation because: (a) the operations and cash flows of CDGC were eliminated from the Company’s operations; and (b) the Company would not have ability to influence the operation or financial policies of CDGC subsequent to the sale.

	The payment consideration for the sale consisted of following items:

	(a)	offset the Company's current $155.2 million promissory note payable to Hong Long which matures on June 19, 2015 and bears an interest rate of 4%;
	(b)	the fair value of a 25-year lease agreement for the operating rights to 20 fishing vessels, with such rights appraised by an independent third party at fair market value of $216.1 million; and
	(c)	offset of current accounts of $172.5 million made between the Company and CDGC.

	The net assets of CDGC and its subsidiaries at the date of the sale of December 4, 2013 was $236.6 million (after offsetting current accounts of $172.5 million made between the Company and CDGC), the disposal resulted in a net gain of $117.5 million, which was presented as part of additional paid-in capital for the year ended December 31, 2013 as it was sold to a related party with common control.

	The results of operation of CDGC and its subsidiaries have been presented as a discontinued operations for the years ended December 31, 2013, 2012 and 2011. The following table provides the financial results included in net income from discontinued operations during the periods presented:

			January 1 to		January 1 to		January 1 to
			December 4 ,		December 31,		December 31,
			2013		2012		2011

	Revenue		$	161,497,136	$	209,619,489	$	226,953,070

	Income from discontinued operations before income tax		$	67,251,697	$	110,805,122	$	126,499,331

	Income tax		$	-15,341,035	$	-26,310,694	$	-30,107,070

	Net income from discontinued operations		$	51,910,662	$	84,494,428	$	90,257,249

	The carrying amounts of the major classes of assets and liabilities as of December 4, 2013 (disposal date) and December 31, 2012 were as follows:

			December 4,		December 31,
			2013		2012

	Cash		$	84,917,899	$	165,062,575
	Other current assets			28,821,788		36,613,112
	Non - current assets			148,710,213		159,784,757
	Total assets of discontinued operations		$	262,449,900	$	361,460,444

	Current liabilities		$	25,873,709	$	14,052,751

	Net asset disposed		$	236,576,191

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2013
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
		3	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

		(a)	Basis of presentation

	The accompanying audited consolidated financial statements and related notes have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP).

	The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and VIEs in which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated. The consolidated financial statements of the Company have been prepared as if the existing corporate structure had been in existence throughout the periods presented and as if the reorganization had occurred as of the beginning of the earliest period presented.

	On December 4, 2013, the Company sold its 100% interest in CDGC and its subsidiaries to Hong Long. As such, CDGC’s assets and liabilities have been classified on the consolidated balance sheet as assets and liabilities of discontinued operations as of December 31, 2012. The operating results of CDGC have been classified as discontinued operations in our statements of operations for all years presented. Unless otherwise indicated, all disclosures and amounts in the notes to the consolidated financial statements relate to the Company’s continuing operations.

	As more fully described in Note 23 to the consolidated financial statements, certain errors resulting in improperly reflecting the consolidated financial statements as of December 31, 2012 and for the year ended December 31, 2012 and incorrectly accounting for a related party transaction as of December 31, 2013 and for the year end December 31, 2013, were discovered by management of the Company during the current year.

	Reclassifications

	Certain prior year information has been reclassified to be comparable with the current period presentation. This reclassification has no effect on previously reported net income.

		(b)	Consolidation of VIE

	The Company has no direct or indirect legal or equity ownership interest in Pingtan Fishing. Moreover, another set of VIE agreements have been entered between Pingtan Guansheng and the shareholders of Pingtan Fishing. The shareholders of Pingtan Fishing also have assigned all their rights as shareholders, including voting rights and disposition rights of their equity interest in Pingtan Fishing to Pingtan Guansheng, our direct, wholly-owned subsidiary. Accordingly, by virtue of the VIE Agreements, Pingtan Guansheng is the primary beneficiary of Pingtan Fishing as defined by ASC 810 “Consolidation of Variable Interest Entities”. Therefore, Pingtan Fishing is consolidated as VIE.

	In accordance with ASC 810-10-15-14, Pingtan Fishing and its subsidiaries; namely Pingtan Dingxin, Pingtan Duoying and Pingtan Ruiying are deemed VIEs for two reasons. First, the equity stockholders of Pingtan Fishing do not significantly enjoy the benefits of income or suffer the consequences of losses. Second, the equity stockholders of Pingtan Fishing do not possess the direct or indirect ability through voting or similar rights to make decisions regarding their activities that have a significant effect on the success of Pingtan Fishing. Therefore, in accordance with ASC 810-10-25-38A, the Company is deemed to be the primary beneficiary of Pingtan Fishing and the financial statements of Pingtan Fishing are consolidated in the Company’s consolidated financial statements.

	The following tables show the assets and liabilities of the Company’s VIEs after eliminating the intercompany balances as of December 31, 2013 and 2012. The VIEs include Pingtan Fishing Group which comprises of Pingtan Fishing itself and its three subsidiaries; namely Pingtan Dingxin, Pingtan Duoying and Pingtan Ruiying. The creditors of Pingtan Fishing Group do not have recourse against the general creditors of their primary beneficiaries or other Group members.

			December 31,
			2013				2012
			(As Restated)				(As restated)

	ASSETS
	Cash		$	7,736,309			$	6,710,472
	Notes receivable (banker's acceptances) transferred from related parties			-				3,645,817
	Accounts receivable			9,133,130				11,478,436
	Other receivables			11,632				29,885
	Advances to related parties			-				49,802,897
	Inventories			9,095,736				194,331
	Prepaid expenses			4,306,753				386,966
	Long-term investment			3,468,953				3,328,789
	Deposit on potential Joint Venture			-				6,092,302
	Prepaid fixed asset deposits			33,985,148				-
	Property, plant and equipment, net			75,623,422				37,748,241
			$	143,361,083			$	119,418,136

	LIABILITIES
	Accounts payable - third parties		$	2,184,964			$	70,732
	- related parties			13,807,605				5,765,632
	Receipt in advance - third parties			297,034				-
	- related parties			-				12,681,102
	Short-term loans			9,085,353				25,169,260
	Accrued liabilities and other payables			4,423,847				1,033,640
	Long-term loans (short and long-term)			74,751,804				24,783,629
	Deferred income			520,045				-
			$	105,070,652			$	69,503,995

	The following tables show the revenue and cost of revenue, and net income of the Company’s VIEs after eliminating the intercompany balances for the years ended December 31, 2013, 2012 and 2011.

			Year Ended December 31,
			2013				2012				2011

	Revenue		$	122,667,769			$	67,461,468			$	25,600,636

	Cost of revenue		$	(74,895,172	)		$	(41,570,472	)		$	(14,600,579	)

	Net income from continuing operations		$	49,449,338			$	24,280,268			$	10,440,337

	(c)	Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the years. Significant items subject to such estimates and assumptions include the recoverability of the carrying amount and the estimated useful lives of long-lived assets; valuation allowances for receivables, and realizable values for inventories. Accordingly, actual results could differ from those estimates.

	(d)	Foreign currency translation

The Company uses United States dollars (“U.S. Dollar” or “US$” or “$”) for financial reporting purposes. The subsidiaries within the Company maintain their books and records in their respective functional currency, Chinese Renminbi (“RMB”) and Hong Kong dollars (“HKD”), being the lawful currency in the PRC and Hong Kong, respectively. Assets and liabilities of foreign subsidiaries are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average rate of exchange prevailing during the period. The related transaction adjustments are reflected in “Accumulated other comprehensive income’’ in the equity section of the Company’s consolidated balance sheet. A summary of exchange rate is as follows:

			December 31,
			2013			2012
Balance sheet items, except for equity accounts			RMB6.0537=			RMB6.3086=
			HKD7.7539=			HKD7.7507=

			Year Ended December 31,
			2013			2012			2011
Items in statements of income and cash flows			RMB6.1412=			RMB6.3116=			RMB6.4640=
			HKD7.7565=			HKD7.7556=			HKD7.7793=

	(e)	Cash

Cash consists of cash on hand and at banks.


	(f)	Accounts receivable

The Company only grants credit terms to established customers who are deemed to be financially responsible. Credit periods to independent customers are within 180 days after customers received the purchased goods.

The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews customer credit worthiness, past transaction history, and changes in payment terms when determining the adequacy of these allowances. Accounts are written off against the allowance when it becomes evident collection will not occur.

No allowance for doubtful accounts has been provided for accounts receivable from third party customers for the years ended December 31, 2013 and 2012, respectively. The company collected a majority of receivable balances from third party customers as of December 31, 2013 and 2012 within 60 days subsequent to respective balance sheet dates, and historically has not experienced uncollectible accounts from customers granted with credit sales.

	(g)	Revenue recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price to the customer is fixed or determinable, and collection of the resulting receivable is reasonably assured.

With respects to the sale of frozen fish and other marine catches to third party customers, most of which are sole proprietor regional wholesalers in China, the Company recognizes revenue when customers pick up purchased goods at the Company’s cold storage warehouse, after payment is received by the Company or credit sale is approved by the Company for recurring customers who have history of financial responsibility. The Company does not offer promotional payments, customer coupons, rebates or other cash redemption offers to its customers. The Company does not accept returns from customers. Deposits or advance payments from customers prior to delivery of goods are recorded as receipt in advance.

	(h)	Government grant

Government grants are recognized at their fair value where there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognized as income over the periods necessary to match the grant on a systematic basis to the costs that it is intended to compensate. Where the grant relates to an asset, the fair value is credited to the cost of the asset and is released to the income statement over the expected useful life in a consistent manner with the depreciation method for the relevant asset.

	(i)	Deferred income

Deferred income represents income collected but not earned as of the report date. This is primarily composed of receipts of the government grants to construct new fishing vessels. Upon the completion of the construction of the fishing vessels, the grant is deducted from the cost of the fishing vessels.

	(j)	Fishing licenses

Each of the Company’s fishing vessels requires an approval from Ministry of Agriculture of the People's Republic of China to carry out ocean fishing projects in foreign territories. These approvals are valid for a period from three to twelve months, and are awarded to the Company at no cost. The Company applies for the renewal of the approval prior to expiration to avoid interruptions of fishing vessels’ operations.

Each of the Company’s fishing vessels operated in Indonesia water requires a fishing license granted by the authority in Indonesia. Indonesia fishing licenses remain effective for a period of twelve months and the Company applies for renewal prior to expiration. The Company records cost of Indonesia fishing licenses in prepaid expenses and amortizes over the effective period of the licenses.

	(k)	Inventories

Inventories are stated at the lower of cost or market. Cost comprises of fuel, depreciation, amortization, direct labor, shipping, consumables, and government levied charges and taxes. Consumables include fishing nets and metal containers used by fishing vessels. The Company’s fishing fleets in India and Indonesia waters operate around the year, although the May to July period demonstrates lower catch quantities compared to the October to January peak season. Cost of frozen fish and other marine catches at period-ends is calculated using the weighted average method. There was no inventory valuation reserve provided as at December 31, 2013 and 2012.

	(l)	Prepaid fixed asset deposits

Prepaid fixed assets deposits represents prepayments of construction costs for the construction of 32 fishing vessels. Prepaid fixed assets deposits shall be reclassified to property, plant and equipment upon construction completion.

	(m)	Property, plant and equipment

Property, plant and equipment are recorded at cost less accumulated depreciation. Expenditures for major additions and betterments are capitalized. Depreciation of property, plant and equipment is computed by the straight-line method over the assets estimated useful lives.

Upon sale or retirement of property, plant and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in operations.

The estimated useful lives of the assets are as follows:

		Estimated lives
Fishing vessel		25-Oct
Major improvement on fishing vessel		20-Apr
Motor vehicle		5-Mar
Ship and office equipment		5-Mar

Expenditures for repairs and maintenance, which do not extend the useful life of the assets, are expensed as incurred.

	(n)	Capitalized interest

Interest associated with the construction of a fishing vessel is capitalized and included in the cost of the fishing vessels. When no debt is incurred specifically for the construction of a fishing vessel, interest is capitalized on amounts expended on the construction using weighted-average cost of the Company’s outstanding borrowings. Capitalization of interest ceases when the construction is substantially complete or the construction activity is suspended for more than a brief period. The Company capitalized interest of $1,094,589, $545,407 and $109,899 for the years ended December 31, 2013, 2012 and 2011, respectively in the fishing vessels under construction.

	(o)	Impairment of long-lived assets

In accordance with FASB ASC Topic 360, “Property, Plant and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. If long-lived assets are to be disposed, depreciation is discontinued, if applicable, and the assets are reclassified as held for sale at the lower of their carrying amounts or fair values less costs to sell.

	(p)	Income taxes

Under the current laws of the Cayman Islands and British Virgin Islands, the Company and Merchant Supreme are not subject to any income or capital gains tax, and dividend payments that the Company may make are not subject to any withholding tax in the Cayman Islands or British Virgin Islands. Under the current laws of Hong Kong, Prime Cheer is not subject to any capital gains tax and dividend payments and are not subject to any withholding tax in Hong Kong.

The Company is not incorporated nor does it engage in any trade or business in the United States and is not subject to United States federal income taxes. The Company did not derive any significant amount of income subject to such taxes after completion of the Share Exchange and accordingly, no relevant tax provision is made in the consolidated statements of operations.

Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be effective when the differences are expected to reverse.

Deferred tax assets are reduced by a valuation allowance to the extent that management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated statements of income in the period that includes the enactment date.

The Company prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken in the tax return. This interpretation also provides guidance on de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods and income tax disclosures. As of December 31, 2013 and 2012, there were no amounts that had been accrued with respect to uncertain tax positions.

The Company's VIE, Pingtan Fishing, is a qualified ocean fishing enterprise certified by the Ministry of Agriculture of the PRC. The qualification is renewed on April 1 each year. Pingtan Fishing is exempt from income tax derived from its ocean fishing operations in the periods it processes a valid Ocean Fishing Enterprise Qualification Certificate issued by the Ministry of Agriculture of the PRC.

In addition, Pingtan Fishing is not subject to foreign income taxes for its operations in India and Indonesia Exclusive Economic Zones.

	(q)	Fair value measurements

In January 2010, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update “ASU 2010-06” “Fair Value Measurements and Disclosures”. The new guidance clarifies two existing disclosure requirements and requires two new disclosures as follows: (1) a “gross” presentation of activities (purchases, sales, and settlements) within the Level 3 rollforward reconciliation, which will replace the “net” presentation format; and (2) detailed disclosures about the transfers in and out of Level 1 and 2 measurements. This guidance is effective for the first interim or annual reporting period beginning after December 15, 2009, except for the gross presentation of the Level 3 rollforward information, which is required for annual reporting periods beginning after December 15, 2010, and for interim reporting periods thereafter. The Company adopted the amended fair value disclosures guidance on January 1, 2012.

As of December 31, 2013 and 2012, none of the Company’s financial assets or liabilities were measured at fair value on a recurring basis. As of December 31, 2013 and 2012, none of the Company’s non-financial assets or liabilities was measured at fair value on a nonrecurring basis.

The carrying values of the Company’s financial assets and liabilities, including accounts receivable, other receivables, other current assets, short-term loans, accounts payable, and accrued liabilities and other payables, are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and if applicable, their stated interest rate approximates current rates available. It is not practicable to estimate the fair values of advance to and advance from related parties because of the related party nature of such advances.

	(r)	Commitments and contingencies

In the normal course of business, the Company is subject to contingencies, including legal proceedings and environmental claims arising out of the normal course of businesses that relate to a wide range of matters, including among others, contracts breach liability. The Company records accruals for such contingencies based upon the assessment of the probability of occurrence and, where determinable, an estimate of the liability. Management may consider many factors in making these assessments including past history, scientific evidence and the specifics of each matter.

The Company’s management has evaluated all such proceedings and claims that existed as of December 31, 2013 and 2012. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s financial position, liquidity or results of operations.

	(s)	Economic and political risks

The Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC economy.

The Company’s operation in the PRC is subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances aboard, and rates and methods of taxation, among other things.

According the sale agreement signed on December 4, 2013, the Company does not own 20 fishing vessels but has the operating license rights to operate these vessels which are owned by Hong Long and entitled to 100% of net profit (loss) of the vessels. The Company has latitude in establishing price and discretion in supplier selection. There were no economic risks associated with the operating license rights but the Company may need to bear the operation risks and credit risks as aforementioned.

	(t)	Pension and employee benefits

Cost for pension and employee benefits was $24,502, $nil and $nil for the years ended December 31, 2013, 2012 and 2011, respectively.

	(u)	Segment information

ASC 280 “Segment reporting” establishes standards for reporting information on operating segments in interim and annual financial statements. The Company currently has only one segment, all of the Company’s continuing operations and customers are in the PRC and all income is derived from ocean fishery.

	(v)	Earnings per ordinary share

Earnings per ordinary share (basic and diluted) is based on the net income attributable to ordinary shareholders divided by the weighted average number of ordinary shares outstanding during each period. Ordinary share equivalents are not included in the calculation of diluted earnings per ordinary share if their effect would be anti-dilutive. Retroactive treatment as required by FASB ASC paragraph 260-10-55-12 has been applied in computing earnings per share to reflect the business combination held on February 25, 2013.

The following table sets forth the computation of basic and diluted net income per ordinary share:

		Year Ended December 31,
		2013				2012				2011
		(As restated)				(As restated)				2011

Net income		$	47,135,794			$	24,280,268			$	10,440,337
- From continuing operations			51,910,662				84,494,428				90,257,249
- From discontinued operations		$	99,046,456			$	108,774,696			$	100,697,586

Weighted average number of ordinary shares outstanding (Basic and diluted) (As restated)			78,772,743				77,215,000				77,215,000

Earnings per ordinary share (Basic and diluted)
- From continuing operations		$	0.6			$	0.32			$	0.14
- From discontinued operations			0.66				1.09				1.17
- Net income		$	1.26			$	1.41			$	1.31

For the years ended December 31, 2013, 2012 and 2011, the number of securities convertible into ordinary shares not included in diluted EPS because the effect would have been anti-dilutive consists of the following:

		Year Ended December 31,
		2013				2012				2011

Warrants to purchase ordinary share			8,966,667				8,966,667				8,966,667

	(w)	Recently issued accounting standards

In February 2013, the FASB issued new authoritative accounting guidance related to the recognition and measurement of obligations arising from joint and several liability arrangements. This authoritative accounting guidance is effective for interim and annual periods beginning after December 15, 2013 and is to be applied retrospectively. Based on its evaluation, the Company determined this guidance does not currently impact the Company’s financial statements and disclosures.

In July 2013, the FASB issued new authoritative accounting guidance related to the reporting of unrecognized tax benefits when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The guidance states an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry-forward, a similar tax loss, or a tax credit carry-forward, with certain exceptions. This authoritative accounting guidance is effective for interim and annual periods beginning after December 15, 2013, and is to be applied prospectively to all unrecognized tax benefits that exist at the effective date. The Company determined this guidance does not significantly impact the Company’s financial statements and disclosures.

There are no new significant accounting standards applicable to the Company that have been issued but not yet adopted by the Company as of December 31, 2013.

CASH

CASH	12 Months Ended
CASH	Dec. 31, 2013
Cash and Cash Equivalents [Abstract]	'
Cash and Cash Equivalents Disclosure [Text Block]	'
	4. CASH

	Cash is classified by geographical areas is set out as follows:

		December 31,
		2013		2012
		2013		(As restated)

	Hong Kong	$	269,299	$	862
	The PRC		7,887,300		6,859,923
		$	8,156,599	$	6,860,785

	Maximum exposure to credit risk	$	8,156,599	$	6,860,785

	Cash is denominated in the following currencies:

		December 31,
		2013		2012
		2013		(As restated)

	USD	$	381,516	$	150,001
	RMB		7,737,225		6,709,922
	HKD		37,858		862
		$	8,156,599	$	6,860,785

	In the PRC and Hong Kong, there are currently no rules or regulations mandating obligatory insurance of bank accounts. Management believes these financial institutions are of high credit quality.

	Renminbi is not a freely convertible currency and the remittance of funds out of the PRC is subject to the exchange restrictions imposed by the PRC government.

ACCOUNTS_RECEIVABLE

ACCOUNTS RECEIVABLE	12 Months Ended
ACCOUNTS RECEIVABLE	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]	'
Accounts Receivable Third Parties [Text Block]	'
	5. ACCOUNTS RECEIVABLE

		December 31,
		2013		2012

	Accounts receivable from independent third parties	$	9,133,130	$	11,478,436

INVENTORIES

INVENTORIES	12 Months Ended
INVENTORIES	Dec. 31, 2013
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
		6	INVENTORIES

	Inventories as of December 31, 2013 and 2012 consisted of the following:

			December 31,
			2013		2012

	Frozen fish and marine catches in warehouse		$	9,095,736	$	161,484
	Frozen fish and marine catches in transit			-		32,847
			$	9,095,736	$	194,331

LONGTERM_INVESTMENT

LONG-TERM INVESTMENT	12 Months Ended
	Dec. 31, 2013
Investment [Abstract]	'
Investment [Text Block]	'
		7	LONG-TERM INVESTMENT

	Long-term investment represents the Company’s VIE, Pingtan Fishing’s interest in Fujian Pingtan Rural-Commercial Bank Joint-Stock Co., Ltd. (“Pingtan Rural-Commercial Bank’’), a private financial institution. Pingtan Fishing completed its registration as a shareholder on October 17, 2012 and paid RMB 21 million, or approximately $3.4 million to subscribe to 15,113,250 shares, or 5% of the common stock of Pingtan Rural-Commercial Bank. There shares were as collateral for the company’s long term loan amounting to $2.3 million as of December 31, 2013. None of these shares were collateralized as of December 31, 2012.

	Pingtan Fishing used the cost method of accounting to record its investment since Pingtan Fishing does not have the ability to exercise significant influence over the operating and financing activities of Pingtan Rural-Commercial Bank. The Company determined that there was no impairment on this investment as of December 31, 2013 and 2012.

	Long-term investment for which there are no quoted market prices, a reasonable estimate of fair value could not be made without incurring excessive costs.

DEPOSIT_ON_POTENTIAL_JOINT_VEN

DEPOSIT ON POTENTIAL JOINT VENTURE	12 Months Ended
DEPOSIT ON POTENTIAL JOINT VENTURE	Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
Equity Method Investments and Joint Ventures Disclosure [Text Block]	'
		8	DEPOSIT ON POTENTIAL JOINT VENTURE

	Deposit on potential Joint Venture as of December 31, 2013 and 2012 consisted of the following:

			December 31,
			2013		2012

	Deposit for an asset interest acquisition and investment in a proposed Indonesia joint venture		$	-	$	6,090,302

	Pursuant to a Cooperative Agreement and a Joint-Venture Contract dated March 1, 2006 entered into between the Company’s VIE, Pingtan Fishing and PT. Avona Mina Lestari (“Avona”), a related party, and an Indonesian enterprise engaged in fishing base management and fishing vessel operations, Pingtan Fishing agreed to acquire 80% controlling interest in a fishing base owned by Avona. A joint venture company that would be controlled by Pingtan Fishing was to be established between Pingtan Fishing and Avona following Pingtan Fishing’s acquisition of controlling interest in Avona’s fishing base. Total investment for the acquisition of Avona fishing base 80% interest and establishment of a joint venture company was $7,200,000, comprising $5,470,000 cash and 14 fishing vessels to be valued at $1,730,000.

	In the first quarter of 2013, Pingtan Fishing and Avona, as a result of non-approved of the proposed Joint Venture, entered into an agreement in which the deposit on setting up of joint venture would be used for settling the accounts payable of Avona that who provided ship agency, maintenance and other services to Pingtan Fishing. If the Indonesian Government authority subsequently approved the proposed Joint Venture, both companies would reconsider this investment.

PROPERTY_PLANT_AND_EQUIPMENTNE

PROPERTY, PLANT AND EQUIPMENT,NET	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT,NET	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
		9	PROPERTY, PLANT AND EQUIPMENT, NET

			December 31,
			2013		2012
			(As restated)		(As restated)

	Externally purchased fishing vessels		$	61,840,994	$	20,587,954
	Fishing vessels pursuant to capital lease – related party			26,435,403		-
	Office and other equipment			620,435		481,610
	Fishing vessels under construction			16,272,875		17,737,182
				105,169,707		38,806,746
	Less: accumulated depreciation			-3,199,000		-1,058,505
			$	101,970,707	$	37,748,241

	Depreciation expenses were $2,394,692, $2,677,418 and $1,917,747 for years ended December 31, 2013, 2012 and 2011, respectively. Depreciation of $2,368,010, $2,653,943 and $1,917,747 was charged to cost of revenue for the years ended December 31, 2013, 2012 and 2011, respectively. Depreciation of $26,682, $23,475 and $nil was charged to general and administrative expenses for the years ended December 31, 2013, 2012 and 2011, respectively.

	As of December 31, 2013 and 2012, the Company had 16 fishing vessels which were fully depreciated with estimated useful lives of 10 years. These fishing vessels were contributed by registered equity owners in exchange for Pingtan Fishing's paid-in capital and were recorded at the equity owners' historical cost of $nil at the time of contribution.

	As of December 31, 2013 and 2012, the Company had 38 and 20 fishing vessels with net carrying amount of $33,117,389 and $17,334,990 respectively pledge as collateral for its term loans and term loan of a related party. The term loans of the related party were in the amount of approximately $20.7 million and $10.6 million as of December 31, 2013 and 2012 respectively (Note 12 (c)).

	As of December 31, 2013 and 2012, the Company pledged $16,236,585 and $nil of fishing vessels under construction as collateral for its term loans.

	On December 4, 2013, in connection with the sale of CDGC to Hong Long, a related party, the Company acquired 25-year operating license rights in connection with the lease of 20 fishing vessels for the appraised fair market value of approximately $216.1 million, whereby the Company is entitled to 100% of the operations and net profits (losses) from the vessels for the term of the lease. The 20 vessels were leased from Hong Long, a related party under common control. Accordingly, the transaction between the Company and Hong Long was accounted as a common control transaction pursuant to ASC 805-50 and it related subsections. The major shareholder of Hong Long is spouse of the Company’s CEO, Mr. Xinrong Zhuo who holds over 50% share of the Company. Pursuant to ASC 805-50, we recorded the value of $26,435,403 as the cost of the vessels which was the net historical carrying amount recorded in Hong Long's books at the date of sale of CDGC to Hong Long. Pursuant to the Company’s analysis of ASB 840-10-25, the Company determined that the lease term is over 75% of the estimated economic life of the vessels and the present value at the beginning of the lease term of the minimum lease payments equals or exceeds 90 percent of the excess of the fair value of the leased property from Hong Long at lease inception. Additionally pursuant to ASB 840-10-25-26, leases between related parties shall be classified in accordance with the lease classification criteria of ASB 840-25. Accordingly, the Company treated the lease for the 20 vessels as a capital lease and recorded $26,435,403 in property and equipment which will be depreciated over the lease term.

ACCOUNTS_PAYABLE_RELATED_PARTI

ACCOUNTS PAYABLE - RELATED PARTIES	12 Months Ended
ACCOUNTS PAYABLE - RELATED PARTIES	Dec. 31, 2013
Accounts Payable Related Parties [Abstract]	'
Accounts Payable Related Parties Disclosure [Text Block]	'
		10	ACCOUNTS PAYABLE - RELATED PARTIES

	Accounts payable to related parties as of December 31, 2013 and 2012 consisted of the following:

			December 31,
				2013		2012

	PT. Avona Mina Lestari		$	1,967,151	$	5,589,681
	Fuzhou Honglong Ocean Fishery Co., Ltd. (“Hong Long”)			6,214,491		175,951
	Hai Yi Shipping Limited			251,341		-
	Haifeng Dafu Enterprise Company Limited			377,216		-
	Hong Fa Shipping Limited			4,996,031		-
	Zhiyan Lin			1,375		-
			$	13,807,605	$	5,765,632

	Accounts payable to related parties are not collateralized, carry no interest, and do not have specific repayment terms.

	Deposit on setting up joint venture netted off with accounts payable - related parties.

	See Note 14(a) for the relationship of related parties.

RECEIPT_IN_ADVANCE_RELATED_PAR

RECEIPT IN ADVANCE - RELATED PARTIES	12 Months Ended
RECEIPT IN ADVANCE - RELATED PARTIES	Dec. 31, 2013
Receipt In Advance Related Parties [Abstract]	'
Receipt In Advance Related Parties Disclosure [Text Block]	'
		11	RECEIPT IN ADVANCE - RELATED PARTIES

	Receipt in advance from related parties as of December 31, 2013 and 2012, consisted of the following:

			December 31,
			2013		2012

	Shenzhen Western Coast Fisherman Pier Co., Ltd (See Note 14 (a))		$	-	$	12,681,102

	In 2012, the Company received of $12,681,102 in advance from Shenzhen Western Coast Fisherman Pier Co., Ltd to supply fishery products in 2013.

TERM_LOANS

TERM LOANS	12 Months Ended
TERM LOANS	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
		12	TERM LOANS

	As of December 31, 2013 and 2012, the Company’s short and long-term loans consisted of the following items:

	(a)	Short-term loans

			December 31,
			2013				2012

	Classified by financial institutions:
	Industrial and Commercial Bank of China		$	-			$	14,390,323
	Fujian Haixia Bank			9,085,353				7,133,120
	China Minsheng Banking Corporation Limited			-				3,645,817
			$	9,085,353			$	25,169,260

	Additional information:
	Maximum balance outstanding during the year		$	25,169,260			$	25,169,260
	Interest expense for the years ended December 31, 2013 and 2012		$	1,229,965			$	1,873,866
	Weighted average interest rate			8.7	%			4.8	%

	The principal payments for the outstanding short-term loans are as follows:

											Outstanding
					Current						amount as of
			Principal		annualized						December
	Name of Banks		amount		interest rate		Terms of loans		Collateral		312,013

	Fujian Haixia		RMB30,000,000		Fixed rate at		Due on		Guaranteed by			4,955,647
	Bank, Fuzhou				8.400% per		March 22, 2014		Xinrong
	Hualin Branch				annum				Zhuo

	Fujian Haixia		RMB10,000,000		Fixed rate at		Due on		Guaranteed by			1,651,883
	Bank, Fuzhou				9.000% per		May 9, 2014		Xinrong
	Hualin Branch				annum				Zhuo

	Fujian Haixia		RMB15,000,000		Fixed rate at		Due on		Guaranteed by			2,477,823
	Bank, Fuzhou				9.000% per		April 23, 2014		Xinrong
	Hualin Branch				annum				Zhuo
											$	9,085,353


	(b)	Long-term loans

	Term Loans consist of the following:

			December 31,
			2013				2012

	China Minsheng Banking Corporation Limited, Fuzhou Branch		$	14,829,774			$	20,028,216
	Fujian Haixia Bank, Fuzhou Hualin Branch			3,303,764				4,755,413
	The Export-Import Bank of China, Fujian Branch			46,706,972				-
	China Development Bank, Fujian Branch			9,911,294				-
			$	74,751,804			$	24,783,629
	Less: Current portion			-20,252,077				-8,094,308
	Long-term debt		$	54,499,727			$	16,689,321

	Additional information:
	Weighted average interest rate			6.8	%			7.9	%

	Interest expenses of long-term loans for the years ended December 31, 2013, 2012 and 2011 amounted to $2,071,731, $599,334 and $nil, respectively. Interest expenses of $1,094,589, $545,407 and $109,899 are capitalized to construction in progress for the years ended December 31, 2013, 2012 and 2011, respectively.

	As of December 31, 2013, a related company, Fujian International Trading and Transportation Company collateralized its 0.3% investment in total equity interest of Xiamen International bank and 1% of its investment in total equity interest of Fujian Pingtan Rural-Commercial bank Joint-Stocked Co., Ltd to guarantee Pingtan Fishing’s term loans of $ 3.8 million and $0.5 million respectively.


A summary of the principal payments for the outstanding term loans during the following eight fiscal years is as follows:

																		Total
						Principal payment due during												outstanding
Name of bank		Collateral		Term of loans		2014			2015			2016		2017		2018-2021		loan amount

China Minsheng		Pingtan Fishing’s		May 4, 2012 to		$	6,095,446		$	3,047,723		$	-	$	-	$	-	$	9,143,169
Banking		and Hong Long’s		March 16, 2015
Corporation		fishing vessels
Limited, Fuzhou		and guaranteed
Branch		by Xinrong
		Zhuo

China Minsheng		Pingtan Fishing’s		June 15, 2012 to			1,486,694			743,347			-		-		-		2,230,041
Banking		and Hong Long’s		March 16, 2015
Corporation		fishing vessels
Limited, Fuzhou		and guaranteed
Branch		by Xinrong
		Zhuo

China Minsheng		Pingtan Fishing’s		June 29, 2012 to			2,304,376			1,152,188			-		-		-		3,456,564
Banking		and Hong Long’s		March 16, 2015
Corporation		fishing vessels
Limited, Fuzhou		and guaranteed
Branch		by Xinrong
		Zhuo

Fujian Haixia Bank,		Guaranteed by		April 25, 2012 to			1,651,882			1,651,882			-		-		-		3,303,764
Fuzhou Hualin		Xinrong Zhuo		March 22, 2015
Branch

The Export-Import		Hong Long’s		July 5, 2013 to			3,386,359			4,724,383			5,418,174		6,111,965		-		19,640,881
Bank of China		investment in		December 10,
		equity interest		2017
		of a PRC
		local bank

The Export-Import		Hong Long’s		July 5, 2013 to			123,891			181,707			198,226		214,745		-		718,569
Bank of China		investment in		December 10,
		equity interest		2017
		of a PRC
		local bank

The Export-Import		Fujian International		July 5, 2013 to			660,753			925,054			1,024,167		1,172,836		-		3,782,810
Bank of China		Trading and		December 10,
		Transportation		2017
		Company Ltd’s
		investment in
		equity interest
		of a PRC local
		bank

The Export-Import		Guarantee of		July 5, 2013 to			3,270,727			4,592,233			5,219,948		2,775,162		-		15,858,070
Bank of China		Hong Long		December 10,
				2017

The Export-Import		Fujian International		September 29,			82,594			99,113			132,151		148,669		-		462,527
Bank of China		Trading and		2013 to December
		Transportation		10, 2017
		Company Ltd’s
		investment in
		equity interest
		of a PRC local
		bank

The Export-Import		Hong Long’s		September 29,			214,745			297,339			363,414		379,933		-		1,255,431
Bank of China		investment in		2013 to
		equity interest		December 10,
		of a PRC		2017
		local bank

The Export-Import		Hong Long’s		September 29,			-			-			-		2,659,531		-		2,659,531
Bank of China		investment in		2013 to
		equity interest		December 10,
		of a PRC		2017
		local bank

The Export-Import		Pingtan Fishing’s		September 29,			396,451			561,640			660,753		710,309		-		2,329,153
Bank of China		investment in		2013 to
Fujian Branch		equity interest		December 10,
		of a PRC		2017
		local bank

China Development		Guaranteed by		November 28,			578,159			1,156,318			1,238,912		1,404,100		5,533,805		9,911,294
Bank Fujian		Xinrong Zhuo,		2013 to
Branch		Honghong Zhuo,		November 27,
		Mrs. and Mr.		2021
		Zhiyan Lin and
		14 fishing vessels
		under construction
						$	20,252,077		$	19,132,927		$	14,255,745	$	15,577,250	$	5,533,805	$	74,751,804

(c)	Guarantees and collaterals provided to related parties

In October 2012, Pingtan Fishing entered into two pledge contracts with China Minsheng Banking Corp., Ltd. Pursuant to the terms of the pledge contracts, Pingtan Fishing assigned 10 fishing vessels, as collateral to secure Hong Long’s long-term loans from the financial institution in amount of approximately $10.8 million, which are due on April 18, 2015. In addition to the collateral provided to Hong Long, Pingtan Fishing also guaranteed the repayment of $46.3 million for Hong Long’s long-term loans.

In August and September 2013, Pingtan Fishing entered into two pledge contracts with China Minsheng Banking Corp., Ltd. Pursuant to the terms of the pledge contracts, Pingtan Fishing assigned 12 fishing vessels, as collateral to provide maximum guarantees of $9.9 million to Hong Long’s term loans, which are due on June 25, 2014.

In December 2013, Pingtan Fishing entered into a guarantee agreement with Ping An Bank Co., Ltd. Pursuant to the terms of the guarantee agreement, Pingtan Fishing provide maximum guarantees approximately of $8.3 million to Hong Long’s credit line in amount of $16.5 million which is due on December 23, 2014.

As of the issuance date of these financial statements, Pingtan Fishing did not receive any demand from the lender that collateralized properties are intended to be disposed of or to make any payments under the guarantee.

ACCRUED_LIABILITIES_AND_OTHER_

ACCRUED LIABILITIES AND OTHER PAYABLES	12 Months Ended
ACCRUED LIABILITIES AND OTHER PAYABLES	Dec. 31, 2013
Payables and Accruals [Abstract]	'
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	'
		13	ACCRUED LIABILITIES AND OTHER PAYABLES

	Accrued liabilities and other payables as of December 31, 2013 and 2012 consisted of the following:

			December 31,
			2013		2012
			(As restated)		(As restated)

	Accrued salaries and wages		$	4,022,049	$	673,234
	Accrued expenses			393,214		-
	Other payables			228,009		360,532
			$	4,643,272	$	1,033,766

ADVANCES_TOFROM_RELATED_PARTIE

ADVANCES TO/FROM RELATED PARTIES	12 Months Ended
ADVANCES TO/FROM RELATED PARTIES	Dec. 31, 2013
Advance To From Related Parties [Abstract]	'
Advances To From Related Parties Disclosure [Text Block]	'
	14. ADVANCES TO/FROM RELATED PARTIES

	Advances to/from related parties as of December 31, 2013 and 2012 consisted of the following:

	(a) Name and relationship of related parties

	Name of related party		Relationship
	Xinrong Zhuo		CEO, Director and major shareholder of the Company, a Family Member*
	Ping Lin		Spouse of Xinrong Zhuo, a Family Member and shareholder of Hong Long
	Panxing Zhuo		Father of Xinrong Zhuo, a Family Member
	Honghong Zhuo		Shareholder of Pingtan Fishing,daughter of Xinrong Zhuo and a Family Member
	Qing Lin		Brother-in-law of Xinrong Zhuo, a Family Member
	Longfei Zhuo		Cousin of Xinrong Zhuo
	Sunqiang Zhou		Brother-in-law of Xinrong Zhuo, a Family Member
	Cheng Chen		Cousin of Xinrong Zhuo, a Family Member and shareholder of Hong Long
	Xiaojie Wu		Brother-in-law of Xinrong Zhuo
	XiaoqinXu		An employee of an affiliate company
	Xiaomei Yang		An employee of the Company and niece of Xinrong Zhuo
	Xiaofang Zhuo		Cousin of Xinrong Zhuo
	Longhua Zhuo		Sister of Xinrong Zhuo
	Zhiyan Lin		Shareholder and legal representative of Pingtan Fishing, a Family Member
	Fujian Yihai Investment Co., Ltd.		An affiliate company majority owned by Longjie Zhuo, sibling of Xinrong Zhuo
	Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.		An affiliate company owned by Longfei Zhuo and Honghong Zhuo
	Fujian Lutong Highway Engineering Construction Co., Ltd.		An affiliate company majority owned by Xiaojie Wu, brother-in-law of Xinrong Zhuo
	Fujian Haiyi International Shipping Agency Co., Ltd.		An affiliate company to which the Company acted as a trustee equity owner. Haiyi International is ultimately majority owned and controlled by Sunqiang Zhou
	Fujian Xinnong Ocean Fisheries Development Co., Ltd.		An affiliate company to which the Company acted as a trustee equity owner. Xinnong is ultimately owned and controlled by Xiaojie Wu
	Fuzhou Haoyouli Fisheries Development Co., Ltd.		An affiliate company to which the Company acted as trustee equity owner. Haoyouli is ultimately owned and controlled by Sunqiang Zhou
	Fuzhou Honglong Ocean Fishery Co., Ltd.		An affiliate company majority owned and controlled by Ping Lin
	Fujian Province Ocean Fishery Co., Ltd.		An affiliate company majority owned and controlled by Fuzhou Honglong Ocean Fishery Co., Ltd.
	PT. Avona Mina Lestari		An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management and fishing vessel service
	PT. DwikaryaReksaAbadi		An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management and fishing vessel service
	Haifeng Dafu Enterprise Company Limited		An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in the Hong Kong Special Administrative Region of the PRC (“Hong Kong”)
	Hai Yi Shipping Limited		An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)


	China Communication Materials Central and South Co., Ltd.		An affiliate company majority-owned by Fujian Lutong Highway Engineering
	Fujian International Trading and Transportation Co., Ltd.		An affiliate company owned by Yihai Investment and Longhao Zhuo, sibling of Xinrong Zhuo and a Family Member
	Fuzhou Dongxing Longju Real Estate Co., Ltd.		An affiliate company owned by Xinrong Zhuo
	Shenzhen Western Coast Fisherman Pier Co., Ltd.		An affiliate company owned by Xinrong Zhuo
	Pingtan Heshun Fuel Co., Ltd.		An affiliate company under Xinrong Zhuo’s common control
	Fuzhou Hairong Trading Co., Ltd.		An affiliate company under Xinrong Zhuo’s common control
	Hong Fa Shipping Limited		An affiliate company ultimately owned by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)


	(b) Advances to related parties



			December 31,
			2013			2012

	Honghong Zhuo		$	-		$	1,642,203
	Panxing Zhuo			-			6,196,248
	Qing Lin			-			100,855
	Xiaofang Zhuo			-			769,251
	Xiaomei Yang			-			7,598,782
	China Communication Materials Central and South Co., Ltd			-			6,895,349
	Fujian Haiyi International Shipping Agency Co., Ltd.			-			243,117
	Fujian Lutong Highway Engineering Construction Co., Ltd.			-			2,161,177
	Fujian Yihai Investment Co., Ltd			-			13,467,150
	Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.			-			956,315
	Fuzhou Haoyouli Fisheries Development Co., Ltd.			-			7,204,451
	Fuzhou Wanhao Real Estate Property Investment Co., Ltd			-			2,567,923
		$	-		$	49,802,821

Advances to related parties represented loans to related parties. These balances are not collateralized, carry no interest, and do not have specific repayment terms.

(c)	Advances from related parties

		December 31,
		2013			2012

Kit Chan		$	-		$	153,961

CAPITAL

CAPITAL	12 Months Ended
CAPITAL	Dec. 31, 2013
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
		15	CAPITAL

	(a)	Share Capital

	On February 25, 2013, CGEI completed its merger with CDGC and the various transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”), dated as of October 24, 2012 among CGEI, CDGC, and China Dredging Sub Ltd. and the share purchase of Merchant Supreme contemplated by the Share Purchase Agreement, dated as of October 24, 2012 (the “Share Purchase Agreement”), among CGEI and Merchant Supreme (collectively, the “Business Combination”). Upon the consummation of the Business Combination, the ordinary shares, $0.001 par value per share of the Company were listed on The NASDAQ Capital Market under the symbol “PME”. Pursuant to the terms of the Merger Agreement, upon completion of the Merger, each share of then-issued outstanding ordinary shares and Class A preferred shares of CDGC was automatically cancelled and converted into the right to receive 0.82947 Company Ordinary Shares. Pursuant to the terms of the Share Purchase Agreement, all of the issued and outstanding shares of Merchant Supreme capital shares were purchased by the Company for an aggregate of 25,000,000 Company Ordinary Shares. On February 26, 2013, the Company announced that it had completed the Business Combination.

	An aggregate of 30,329,883 ordinary shares and 3,966,667 warrants that were originally issued by CGEI, to Chum Capital Group Limited, in connection with a private placement prior to CGEI’s initial public offering, and that became exercisable for the Company’s ordinary shares beginning on March 27, 2013 (the “Sponsor Warrants”). The Sponsor Warrants have been registered for resale by the selling security-holders under Form S-3 filed on June 17, 2013 and declared effective on June 19, 2013. On June 2, 2011, the Company sold 5,000,000 units, at an offering price of $10.00 per unit, generating gross proceeds of $50,000,000. Each unit consists of one ordinary share, $0.001 par value, of the Company and one redeemable purchase warrant. Each warrant will entitle the holder to purchase from the Company one ordinary share at an exercise price of $12.00 commencing upon the completion of a business combination and expiring five years from the consummation of a business combination. The Company also registered an aggregate of 8,966,667 ordinary shares that are issuable by the Company upon exercise of the 3,966,667 Sponsor Warrants and 5,000,000 warrants that were issued in the CGEI’s initial public offering (the “Public Warrants”) and that became exercisable upon the consummation of the transactions contemplated by that certain Agreement and Plan of Merger, dated as of October 24, 2012, between CGEI, CDGC, China Growth Dredging Sub Ltd. and Xinrong Zhuo and by that certain Share Purchase Agreement, dated as of October 24, 2012, between CGEI and Merchant Supreme.

	Each Public Warrants and Sponsor Warrant (the “Warrants”) entitles the registered holder thereof to purchase one of the Company’s ordinary shares upon payment of the exercise price of $12.00 per share.

	The Sponsor Warrants are identical to the Public Warrants except that the Sponsor Warrants will be exercisable for cash or on a cashless basis, at the holder’s option, and will not be redeemable by the Company, in each case so long as they are still held by these purchases or their transferees.

	In accordance with GAAP, the Company accounted for the Warrants as equity instruments.

	A summary of all Warrants outstanding as of December 31, 2013 is presented below:

			Number of
			Warrants	Exercise Price		Terms

	Exercisable as of December 31, 2013		8,966,667	$	12	4.2 years

	During the year ended December 31, 2013 and 2012, no warrant was granted, exercised or expired.

	(b)	Retained earnings and statutory reserves

	Pingtan Guansheng and Pingtan Fishing Group operate in the PRC, are required to reserve 10% of their net profits after income tax, as determined in accordance with the PRC accounting rules and regulations. Appropriation to the statutory reserve by the Company is based on profit arrived at under PRC accounting standards for business enterprises for each year. The statutory reserves of the Company represent the statutory reserves of the above-mentioned companies as required under the PRC law.

	The profit arrived at must be set off against any accumulated losses sustained by the Company in prior years, before allocation is made to the statutory reserve. Appropriation to the statutory reserve must be made before distribution of dividends to shareholders. The appropriation is required until the statutory reserve reaches 50% of the registered capital. This statutory reserve is not distributable in the form of cash dividends.

	Pingtan Fishing allocated $3,024,131 of net profits of the year ended December 31, 2013 to the statutory surplus reserves to reach 50% of the registered capital. The registered capital of Pingtan Fishing is RMB 80 million in statutory record including RMB 29.5 million of capital injection by fishing vessels from related parties. According to SAB Topic 5G, this SAB requires that the assets be recorded at predecessor's cost and the registered capital of Pingtan Fishing per audit is $6,254,178 (RMB50.5 million). Pingtan Guansheng, Pingtan Dingxin, Pingtan Duoying and Pingtan Ruiying had sustained losses since its establishment; therefore no appropriation of net profits to the statutory reserves was required.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
		16	RELATED PARTY TRANSACTIONS

			Year Ended December 31,
			2013		2012		2011

	Service fee
	Hai Yi Shipping Limited (6)		$	230,903	$	-	$	-

	Sale of frozen fish and other marine catches
	Shenzhen Western Coast Fisherman Pier Co., Ltd.		$	10,372,611	$	-	$	-
	Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.			-		4,574,118		4,312,036
	Fujian Xinnong Ocean Fisheries Development Co., Ltd.			-		8,948,761		-
	Cheng Chen			-		185,839		179,378
	Longhua Zhou			-		78,902		-
	Total sales		$	10,372,611	$	13,787,620	$	4,491,414

	Purchase of fuel, fishing nets and other on board consumables (1)
	PT. Avona Mina Lestari		$	14,746,582	$	10,709,195	$	3,440,000
	PT. Dwikarya Reksa Abadi			757,557		-		-
	Zhiyan Lin			1,126		-		-
				15,505,265		10,709,195		3,440,000

	Purchase of fuel, fishing nets and other on board consumables paid on behalf
	Fuzhou Honglong Ocean Fishery Co., Ltd.			1,953,494		3,245,177		1,037,441
	Hong Fa Shipping Limited			16,065,535		-		-
				18,019,029		3,245,177		1,037,441

	Purchase of vessel maintenance service (2)
	PT. Avona Mina Lestari			2,981,043		1,901,250		1,602,900
	PT. Dwikarya Reksa Adadi			-		-		1,675,674
				2,981,043		1,901,250		3,278,574

	Purchase of vessel maintenance service paid on behalf
	Fuzhou Honglong Ocean Fishery Co., Ltd.			1,196,983		-		-

	Purchase of transportation service (2)
	Haifeng Dafu Enterprise Company Limited			4,122,861		2,118,321		237,207
	Hai Yi Shipping Limited			1,653,682		505,154		352,252
	Hong Fa Shipping Limited			3,345,589		1,016,098		-
	PT. Avona Mina Lestari			35,149		573,545		1,402,616
				9,157,281		4,213,118		1,992,075


			Year Ended December 31,
			2013		2012		2011

	Cold storage warehouse and office rental
	Ping Lin (5)		$	13,678	$	5,545	$	-
	Fuzhou Honglong Ocean Fishery Co., Ltd. (3)			-		206,498		488,861
				13,678		212,043		488,861

	Indonesia fleet vessel agency fee payable (4)
	PT. Avona Mina Lestari			1,042,738		410,000		90,000

	Crewmen compensation paid on behalf
	Fuzhou Honglong Ocean Fishery Co., Ltd.			-		435,569		155,569
	PT. Avona Mina Lestari			1,125,043		550,000		153,156
				1,125,043		985,569		308,725
	Indonesia fishing licenses paid on behalf
	PT. Avona Mina Lestari			1,748,239		1,155,774		305,318
	Total purchases and expenses		$	50,789,299	$	22,832,126	$	10,940,994

	-1	Fuel, fishing nets and other consumables were sold to Pingtan Fishing.

-2	Vessel maintenance and transportation services were charged to Pingtan Fishing at prices mutually agreed by the related parties and Pingtan Fishing.

-3	The Company sub-leased office area and cold storage warehouse cells from Hong Long. Pursuant to an Office Space Rental and Staff Dispatch Agreement entered into on January 1, 2010 with a three-year term, annual lease and facilities expenses are RMB1,000,000. Cold storage warehouse cell sub-lease contracts were entered into simultaneously with Hong Long’s lease contracts with the third party lessor, which are renewed every 12-to-16 months. The agreements were terminated on July 31, 2012.

-4	Pursuant to a Fishery Cooperative Agreement dated December 31, 2012 with one-year term, entered into between Pingtan Fishing and Avona, Pingtan Fishing is payable to Avona an annual agency fee, calculated at mutually agreed amount of $20,000, for the period from January 1, 2013 to December 31, 2013, Avona acts as an agent for each of Pingtan Fishing’s fishing vessels. The agreement continues to be executed without disagreement from both parties.

-5	Pingtan Fishing entered into a three-year term office rental lease with Ping Lin on July 31, 2012. The annual lease is $13,678.

-6	On July 1, 2013, the Company entered into a service agreement with Hai Yi Shipping Limited that provided the Company a portion of use of premises located in Hong Kong as office, and clerical and administrative support and consultation services. The agreement will expire on December 31, 2014.

CERTAIN_RISKS_AND_CONCENTRATIO

CERTAIN RISKS AND CONCENTRATIONS	12 Months Ended
	Dec. 31, 2013
Risks and Uncertainties [Abstract]	'
Concentration Risk Disclosure [Text Block]	'
		17	CERTAIN RISKS AND CONCENTRATIONS

	(a)	Credit risk

	As of December 31, 2013 and 2012, a substantial portion part of the Company’s cash included bank deposits in accounts maintained within the PRC where there is currently no rule or regulation in place for obligatory insurance to cover bank deposits in the event of bank failure. However, the Company does not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts.

	(b)	Major customers

	During the year ended December 31, 2013, two customers accounted for 0% (2012: 13% and 2011: 32%) of the Company's revenue.

	During the year ended December 31, 2013, related companies Fujian Xiannong Ocean Fisheries Development Co., Ltd and Haifeng Dafu Enterprise Company Limited accounted for 0% (2012: 13% and 2011: 0%) and 0% (2012: 7% and 2011: 18%) of the Company's revenue respectively.

	(c)	Major suppliers

	During the year ended December 31, 2013, two suppliers accounted for 41% (2012: 37% and 2011: 40%) of the Company's purchase.

	During the year ended December 31, 2013, related companies PT. Avona Mina Lestari and PT. Dwikarya Reksa Adadi accounted for 26% (2012: 42% and 2011: 40%) and 1% (2012: 0% and 2011: 10%) of the Company's purchase respectively.

COMMITEMTS_AND_CONTINGENCIES

COMMITEMTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments Disclosure [Text Block]	'
		18	COMMITEMTS AND CONTINGENCIES

	The Company has employment agreements with certain employees that provided severance payments upon termination of employment under certain circumstances, as defined in the applicable agreements. As of December 31, 2013, the Company’s potential minimum cash obligation to these employees was approximately $10,059.

	The Company entered into a service agreement with Hai Yi Shipping Limited that provided use of a portion of the premises, and to provide clerical, administrative support and consultation services upon the agreement expires on December 31, 2014. As of December 31, 2013, the Company’s potential minimum cash obligation to this agreement was approximately $461,961.

	Pursuant to the Shares Purchase Agreement (“the Agreement”) dated December 4, 2013, where the Company exited and sold China Dredging Group to Hong Long (“the buyer”) (Please see Note 2 of consolidated financial statements included in this report), the Company is required to indemnify the buyer and the same indemnification responsibility applies to the buyer for the events arising out of any breach of the Agreement or the memorandum of agreement in relation to the sale, purchase and delivery of the vessels for two years until December 3, 2015 and will be liable for the full amount of damages that exceed $1,000,000. The amount of damage shall be the amount finally determined by a court of competent jurisdiction or appropriate governmental administrative agency, or the amount agreed to upon settlement in accordance with the terms of the Agreement.

OPERATING_LEASE_COMMITMENT

OPERATING LEASE COMMITMENT	12 Months Ended
OPERATING LEASE COMMITMENT	Dec. 31, 2013
Leases, Operating [Abstract]	'
Operating Leases of Lessor Disclosure [Text Block]	'
		19	OPERATING LEASE COMMITMENT

	On July 1, 2013, the Company entered into a service agreement with Hai Yi Shipping Limited that provided use of a portion of the premises, and to provide clerical, administrative support and consultation services. The service fee is approximately $231,000 for the year ended December 31, 2013.

	Pingtan Fishing leased office from Ping Lin. Pursuant to a rental agreement entered into on July 31, 2012 with three-year term, annual lease is $13,678. The total future minimum lease payments under non-cancellable operating leases with respect to service fee, cold storage warehouse and office as of December 31, 2013 were as follows:

					Cold storage
			Service fee		Warehouse		Office rental		Total

	For the years ended December 31,
	2014		$	461,961	$	244,637	$	13,876	$	720,474
	2015			-		-		8,094		8,094
			$	461,961	$	244,637	$	21,970	$	728,568

	The operating lease commitments below include both the related parties commitments and non-related parties commitments. The total future lease payments as of December 31, 2013 are summarized as follows:

					Cold storage
			Service fee		Warehouse		Office rental		Total

	Related parties commitments		$	461,961	$	-	$	21,970	$	483,931
	Non-related parties commitments			-		244,637		-		244,637
			$	461,961	$	244,637	$	21,970	$	728,568

	Rental expenses and service fee under operating leases for the years ended December 31, 2013, 2012 and 2011 was $827,282, $307,559 and $488,861 respectively, of which $244,581, $212,043 and $488,861 are paid to the related parties (Note 18).

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
		20	SUBSEQUENT EVENTS

	On January 6, 2014, the Company borrowed a short term loan from Industrial & Commercial Bank of China, Fuzhou Dongjiekou Branch, in amount of $1,849,120. The loan is due on March 25, 2014.

	On January 20 and 21, 2014, the Company borrowed short term loans from Industrial & Commercial Bank of China, Fuzhou Dongjiekou Branch, in amounts of $1,717,040 and $3,501,660 respectively. These loans are due on April 15 and 20, 2014 respectively.

	On January 15, 2014, the Company borrowed a short term loan from The Export-Import Bank of China, Fujian Branch, in amount of approximately $3,303,765. The loan is due on November 27, 2023.

CONDENSED_PARENT_COMPANY_FINAN

CONDENSED PARENT COMPANY FINANCIAL INFORMATION	12 Months Ended
CONDENSED PARENT COMPANY FINANCIAL INFORMATION	Dec. 31, 2013
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]	'
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	'
		21	CONDENSED PARENT COMPANY FINANCIAL INFORMATION

	For the purpose of preparing these supplemental condensed parent company (unconsolidated) financial statements, the Company records its investment in subsidiaries under the equity method of accounting as prescribed in ASC Topic 323, “Investments - Equity Method and Joint Ventures”. Such investment and long-term loans to subsidiaries are presented on the balance sheet as “Investments in subsidiaries” and the income of the subsidiaries is presented as “Equity in income of subsidiaries” on the statements of income.
	These supplemental condensed parent company (unconsolidated) financial statements should be read in conjunction with the notes to the Company’s consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted.

	As of December 31, 2013, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except as separately disclosed in the Company’s consolidated financial statements, if any.

	CONDENSED BALANCE SHEETS

			December 31,
			2013		2012
				(As Restated)		(As restated)
	Assets
	Cash		$	246,684	$	-
	Prepaid expenses			2,820		-
	Investments in subsidiaries			38,446,318		397,315,984
	Total current assets			38,695,822		397,315,984

	Other assets
	Property, plant and equipment			26,347,285		-
	Total assets		$	65,043,107	$	397,315,984

	Liabilities and equity
	Current liabilities
	Accrued liabilities and other payables		$	201,672	$	-

	Shareholders' equity
	Total shareholders' equity			64,841,435		397,315,984
	Total liabilities and equity		$	65,043,107	$	397,315,984

	CONDENSED STATEMENTS OF INCOME

			Year Ended December 31,
			2013		2012
			(As Restated)		(As Restated)
	Cost of revenue		$	-88,118	$	-
	General and administrative expenses			-2,225,543		-
	Other income			117		-
	Equity in income of subsidiaries			101,360,000		108,774,696
	Net income		$	99,046,456	$	108,774,696

	CONDENSED STATEMENTS OF CASH FLOW

			Year Ended December 31,
			2013		2012
			(As Restated)		(As Restated)
	Net cash used in operating activities		$	-2,002,592	$	-
	Net cash provided by investing activities			127,430,454		-
	Net cash used in financing activities			-125,181,178		-
	Net increase in cash			246,684		-
	Cash at the beginning of the year			-		-
	Cash at the end of the year		$	246,684	$	-

QUARTERLY_CONSOLIDATED_FINANCI

QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)	12 Months Ended
QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]	'
Quarterly Financial Information [Text Block]	'
		22	QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

	The following table shows the Company’s quarterly consolidated financial data for the four quarters of 2013:

			Three Months Ended
			March 31		June 30		September 30		December 31
			(As restated)		(As restated)		(As restated)		(As restated)
	Revenue		$	19,669,476	$	21,362,357	$	20,609,107	$	61,026,829

	Cost of revenue			-14,653,078		-11,749,639		-12,976,891		-35,603,682

	Gross Profit			5,016,398		9,612,718		7,632,216		25,423,147

	Operating expenses:
	Selling and marketing expenses			-194,688		-174,046		-362,000		-887,544
	General and administrative expenses			-301,342		-866,194		-1,178,033		-846,068
	Total operating expenses			-496,030		-1,040,240		-1,540,033		-1,733,612

	Operating income			4,520,368		8,572,478		6,092,183		23,689,535

	Other income (expenses)
	Investment income			-		69,071		218		230
	Interest income			1,096		1,460		2,305		3,389
	Interest expenses			-433,681		-480,158		-1,209,961		-1,177,896
	Subsidy income			35,387		205		168,900		7,133,781
	Sundry income			2,003		11		7		123
	Gain/(Loss) on foreign exchange, net			207,984		-428,389		194,433		170,712

	Income from continuing operations before income taxes			4,333,157		7,734,678		5,248,085		29,819,874

	Income tax expense			-		-		-		-

	Net income from continuing operations			4,333,157		7,734,678		5,248,085		29,819,874

	Net income from discontinued operations, net of taxes			9,340,136		17,963,172		12,158,469		12,448,885

	Consolidated net income		$	13,673,293	$	25,697,850	$	17,406,554	$	42,268,759

RESTATEMENT

RESTATEMENT	12 Months Ended
RESTATEMENT	Dec. 31, 2013
Accounting Changes and Error Corrections [Abstract]	'
Accounting Changes and Error Corrections [Text Block]	'
	23. RESTATEMENT

	The Company’s consolidated financial statements have been restated for the following errors as of December 31, 2013 and 2012 and for the years ended December 31, 2013 and 2012.

		(a)	We incorrectly reflected certain balances of CGEI. in our consolidated financial statements at December 31, 2012,

	The merger among CGEI, CDGC and Merchant Supreme effective on February 25, 2013 should have been accounted for as a “reverse merger” and recapitalization since the shareholder of CDGC and Merchant Supreme (i) own a majority of the outstanding ordinary shares of PME immediately following the completion of the transaction, and (ii) have significant influence and the ability to elect or appoint or to remove a majority of the members of the governing body of the Company. Based on ASC 805, CDGC and Merchant Supreme jointly are deemed the accounting acquirer and consequently, the transaction is treated as recapitalization of CDGC and Merchant Supreme. Accordingly, the assets and liabilities and the historical operations that are reflected in the consolidated financial statements should be those of CDGC and Merchant Supreme and their subsidiaries at the historical cost basis. CGEI’s assets, liabilities and results of operations should be consolidated with the assets, liabilities and results of operations of CDGC and Merchant Supreme subsequent to the merger.

	Accordingly, we amended our consolidated financial statements for the year ended December 31, 2013 and 2012 to only reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25. 2013 and the consolidated financial statements of PME, CDGC and Merchant Supreme and related subsidiaries for all periods subsequent to the closing date.

		(b)	We incorrectly accounted for prepaid operating license rights for 20 vessels in its appraised fair value in Original Report. The management concluded that prepaid operating license rights should be considered as a capital lease and recorded the historical cost of the related party which is under common control as a common control transaction in accordance with ASC 805-50. We restated prepaid operating license rights, property, plant and equipment, related depreciation and amortization expense, and reflected any excess amounts paid for the operating rights as a capital distribution.

	Accordingly, changes have been made to the applicable line items associated with the above errors in the Company’s consolidated financial statements. The effect of the restatement on specific amounts provided in the consolidated financial statements is as follows:

	Condensed consolidated balance sheet data		December 31, 2012
			As previously			Adjustments					As Restated
			reported			Adjustments					As Restated
	Cash		$	10,426,140		$	-3,565,355		(a)		$	6,860,785
	Prepaid expenses			410,966			-24,000		(a)			386,966
	Total Current Assets			437,448,840			-3,589,355		(a)			433,859,485
	Property, plant and equipment			37,141,906			606,335					37,748,241
	Total Assets		$	484,009,837		$	-2,983,020				$	481,026,817

	Accrued liabilities and other payables			1,033,784			-18		(a)			1,033,766
	Total Current Liabilities			67,021,530			-18					67,021,512
	Total Liabilities			83,710,851			-18					83,710,833

	Stockholders’ Equity:
	Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 77,215,000 shares issued and outstanding at December 31, 2012)			79,055			-1,840		(a)			77,215
	Additional paid-in capital			141,381,098			-5,953,916		(a)			135,427,182
	Retained earnings			217,224,220			2,972,754		(a)			220,196,974
	Total Stockholders’ Equity			400,298,986			-2,983,002					397,315,984
	Total Liabilities and Stockholders’ Equity		$	484,009,837		$	-2,983,020				$	481,026,817

		(a)	To remove CEGI’s balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.

	Condensed consolidated statement of income and		For the Year ended December 31, 2012
	comprehensive income:		For the Year ended December 31, 2012
			As			Adjustments					As Restated
			previously
			reported
	Cost of revenue		$	41,876,140		$	-305,668				$	41,570,472
	Gross profit			25,585,328			305,668					25,890,996
	General and administrative expenses		$	2,839,848		$	-2,376,347		(a)		$	463,501
	Operating income			22,097,630			2,682,015					24,779,645
	Interest expense			-3,176,920			300,667					-2,876,253
	Net income from continuing operations			21,297,586			2,982,682					24,280,268
	Consolidated net income		$	105,792,014		$	2,982,682				$	108,774,696
	Comprehensive income		$	109,904,896		$	2,982,682				$	112,887,578

	Basic and diluted earnings per share
	- From continuing operations		$	0.27		$	0.05				$	0.32
	- From discontinued operations			1.07			0.02					1.09
	- Net income		$	1.34		$	0.07				$	1.41

	Weighted average number of ordinary shares outstanding
	- Basic and diluted			79,055,053			-1,840,053					77,215,000

		(a)	To remove CEGI’s balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.

	Condensed consolidated statement of cash flows		For the Year ended December 31, 2012
			As			Adjustments					As Restated
			previously
reported
Cash flows from operating activities:
Net income		$	105,792,014		$	2,982,682		(a)			108,774,696
Income from continuing operations			21,297,586			2,982,682					24,280,268
Depreciation of property, plant and equipment			2,983,086			-305,668		(a)			2,677,418
Accrued liabilities and other payables			763,533			14,054		(a)			777,587
Net cash provided by operating activities from continuing operations			42,558,162			2,691,068					45,249,230
Cash flows from investing activities:
Purchase of property, plant and equipment			-33,692,090			-300,667		(a)			-33,992,757
Net cash used in investing activities from continuing operations			-77,050,831			-300,667					-77,351,498
Cash flows from financing activities:
Cash acquired in recapitalization			5,955,756			-5,955,756		(a)			-
Net cash provided by financing activities from continuing operations			43,107,542			-5,955,756					37,151,786

Net increase in cash			61,284,375			-3,565,355					57,719,020
Cash at the beginning of year			114,204,340			-					114,204,340
Cash at the end of year		$	175,488,715		$	-3,565,355				$	171,923,360

	(a)	To remove CEGI’s balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.



Condensed consolidated balance sheet data		December 31, 2013
		As previously			Adjustments					As Restated
		reported			Adjustments					As Restated
Prepaid expenses		$	2,380,874		$	1,928,700		(c)		$	4,309,574
Total Current Assets			28,778,004			1,928,700					30,706,704
Other Assets
Other receivables			1,213,440			-1,213,440		(c)			-
Prepaid fixed assets deposits			1,928,700			32,056,448		(c)			33,985,148
Prepaid operating license rights			215,381,356			-215,381,356		(b)			-
Property, plant and equipment, net			107,178,269			-5,207,562		(b)(c)			101,970,707
Total Other Assets			329,170,718			-189,745,910					139,424,808
Total Assets		$	357,948,722		$	-187,817,210				$	170,131,512

Accrued liabilities and other payables			3,851,047			792,225		(c)			4,643,272
Deferred income			1,733,485			-1,213,440		(c)			520,045
Total Current Liabilities			51,211,565			-421,215					50,790,350
Total Liabilities			105,711,292			-421,215					105,290,077

Stockholders’ Equity:
Additional paid-in capital			-			117,525,377		(b)			117,525,377
Statutory reserves			22,410,773			-15,997,881		(b)			6,412,892
Retained earnings (deficit)			199,341,512			-262,995,957		(c)(b)			-63,654,445
Accumulated other comprehensive income			30,406,090			-25,927,534		(b)			4,478,556
Total Stockholders’ Equity			252,237,430			-187,395,995					64,841,435
Total Liabilities and Stockholders’ Equity		$	357,948,722		$	-187,817,210				$	170,131,512

	(b)	To adjust the prepaid operating license rights from appraisal value to the historical cost of the 20 vessels leased from Hong Long and to reflect the historical cost of the 20 leased vessels as a capital lease and reclassify such amounts to property, plant and equipment, to adjust the related depreciation and amortization expense, and to reflect any excess amounts paid for the leased operating rights as a capital distribution pursuant to ASC 805-50;
	(c)	To record other miscellaneous adjustments deemed necessary.

Condensed consolidated statement of income and		For the Year ended December 31, 2013
comprehensive income:		For the Year ended December 31, 2013
		As			Adjustments					As Restated
		previously
		reported
Cost of revenues		$	75,760,033		$	-776,743		(b)(c)		$	74,983,290
Gross profit			46,907,736			776,743					47,684,479
Operating income			42,097,821			776,743					42,874,564
Interest expense			-4,171,989			870,293		(c)			-3,301,696
Total other income/(expense)			3,390,937			870,293					4,261,230
Net income from continuing operations			45,488,758			1,647,036					47,135,794
Consolidated net income		$	97,399,420		$	1,647,036				$	99,046,456
Comprehensive Income		$	105,577,539		$	1,663,962				$	107,241,501

Basic and diluted earnings per share
- From continuing operations		$	0.58		$	0.01				$	0.6
- From discontinued operations			0.65			0.03					0.66
- Net income		$	1.23		$	0.04				$	1.26

Weighted average number of ordinary shares outstanding
- Basic and diluted			79,055,053			-282,310					78,772,743

	(b)	To adjust the prepaid operating license rights from appraised fair value to the historical cost of 20 vessels leased from Hong Long and to reflect the historical cost of the 20 leased vessels as a capital lease and reclassify such amounts to property, plant and equipment, to adjust the related depreciation and amortization expense, and to reflect any excess amounts paid for the leased operating rights as a capital distribution pursuant to ASC 805-50;

	(c)	To record other miscellaneous adjustments deemed necessary.

Condensed consolidated statement of cash flows		For the Year ended December 31, 2013
		As previously			Adjustments			As Restated
		reported			Adjustments			As Restated
Cash flows from operating activities:
Net income		$	97,399,420		$	1,647,036		$	99,046,456
Income from continuing operations			45,488,758			1,647,036			47,135,794
Depreciation of property, plant and equipment			3,297,751			-903,059			2,394,692
Amortization of operating license rights			720,339			-720,339			-
Notes receivable (banker's acceptances)			-			3,745,196			3,745,196
Accrued liabilities and other payables			2,737,334			846,655			3,583,989
Net cash provided by operating activities from continuing operations:			47,651,313			4,615,489			52,266,802

Cash flows from investing activities
Purchase of property, plant and equipment			-256,831,561			-870,293			-257,701,854
Net cash used in investing activities from continuing operations			-335,642,367			-870,293			-336,512,660
Cash flows from financing activities:
Cash acquired in recapitalization			-			3,565,355			3,565,355
Repayment of short-term loans			-60,613,140			-3,745,196			-64,358,336
Net cash provided by financing activities from continuing operations			31,327,336			-179,841			31,147,495

Net decrease in cash		$	-167,332,116		$	3,565,355		$	-163,766,761

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Basis Of Accounting, Policy [Policy Text Block]

(a)

Basis of presentation

The accompanying audited consolidated financial statements and related notes have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP).

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and VIEs in which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated. The consolidated financial statements of the Company have been prepared as if the existing corporate structure had been in existence throughout the periods presented and as if the reorganization had occurred as of the beginning of the earliest period presented.

On December 4, 2013, the Company sold its 100% interest in CDGC and its subsidiaries to Hong Long. As such, CDGC’s assets and liabilities have been classified on the consolidated balance sheet as assets and liabilities of discontinued operations as of December 31, 2012. The operating results of CDGC have been classified as discontinued operations in our statements of operations for all years presented. Unless otherwise indicated, all disclosures and amounts in the notes to the consolidated financial statements relate to the Company’s continuing operations.

As more fully described in Note 23 to the consolidated financial statements, certain errors resulting in improperly reflecting the consolidated financial statements as of December 31, 2012 and for the year ended December 31, 2012 and incorrectly accounting for a related party transaction as of December 31, 2013 and for the year end December 31, 2013, were discovered by management of the Company during the current year.

Reclassifications

Certain prior year information has been reclassified to be comparable with the current period presentation. This reclassification has no effect on previously reported net income.

Consolidation, Variable Interest Entity, Policy [Policy Text Block]

(b)

Consolidation of VIE

The Company has no direct or indirect legal or equity ownership interest in Pingtan Fishing. Moreover, another set of VIE agreements have been entered between Pingtan Guansheng and the shareholders of Pingtan Fishing. The shareholders of Pingtan Fishing also have assigned all their rights as shareholders, including voting rights and disposition rights of their equity interest in Pingtan Fishing to Pingtan Guansheng, our direct, wholly-owned subsidiary. Accordingly, by virtue of the VIE Agreements, Pingtan Guansheng is the primary beneficiary of Pingtan Fishing as defined by ASC 810 “Consolidation of Variable Interest Entities”. Therefore, Pingtan Fishing is consolidated as VIE.

In accordance with ASC 810-10-15-14, Pingtan Fishing and its subsidiaries; namely Pingtan Dingxin, Pingtan Duoying and Pingtan Ruiying are deemed VIEs for two reasons. First, the equity stockholders of Pingtan Fishing do not significantly enjoy the benefits of income or suffer the consequences of losses. Second, the equity stockholders of Pingtan Fishing do not possess the direct or indirect ability through voting or similar rights to make decisions regarding their activities that have a significant effect on the success of Pingtan Fishing. Therefore, in accordance with ASC 810-10-25-38A, the Company is deemed to be the primary beneficiary of Pingtan Fishing and the financial statements of Pingtan Fishing are consolidated in the Company’s consolidated financial statements.

The following tables show the assets and liabilities of the Company’s VIEs after eliminating the intercompany balances as of December 31, 2013 and 2012. The VIEs include Pingtan Fishing Group which comprises of Pingtan Fishing itself and its three subsidiaries; namely Pingtan Dingxin, Pingtan Duoying and Pingtan Ruiying. The creditors of Pingtan Fishing Group do not have recourse against the general creditors of their primary beneficiaries or other Group members.

December 31,

2013

2012

(As Restated)

(As restated)

ASSETS

Cash

7,736,309

6,710,472

Notes receivable (banker's acceptances) transferred from related parties

3,645,817

Accounts receivable

9,133,130

11,478,436

Other receivables

11,632

29,885

Advances to related parties

49,802,897

Inventories

9,095,736

194,331

Prepaid expenses

4,306,753

386,966

Long-term investment

3,468,953

3,328,789

Deposit on potential Joint Venture

6,092,302

Prepaid fixed asset deposits

33,985,148

Property, plant and equipment, net

75,623,422

37,748,241

143,361,083

119,418,136

LIABILITIES

Accounts payable - third parties

2,184,964

70,732

- related parties

13,807,605

5,765,632

Receipt in advance - third parties

297,034

- related parties

12,681,102

Short-term loans

9,085,353

25,169,260

Accrued liabilities and other payables

4,423,847

1,033,640

Long-term loans (short and long-term)

74,751,804

24,783,629

Deferred income

520,045

105,070,652

69,503,995

The following tables show the revenue and cost of revenue, and net income of the Company’s VIEs after eliminating the intercompany balances for the years ended December 31, 2013, 2012 and 2011.

Year Ended December 31,

2013

2012

2011

Revenue

122,667,769

67,461,468

25,600,636

Cost of revenue

(74,895,172

)

(41,570,472

)

(14,600,579

)

Net income from continuing operations

49,449,338

24,280,268

10,440,337

Use of Estimates, Policy [Policy Text Block]

(c)

Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the years. Significant items subject to such estimates and assumptions include the recoverability of the carrying amount and the estimated useful lives of long-lived assets; valuation allowances for receivables, and realizable values for inventories. Accordingly, actual results could differ from those estimates.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

(d)

Foreign currency translation

The Company uses United States dollars (“U.S. Dollar” or “US$” or “$”) for financial reporting purposes. The subsidiaries within the Company maintain their books and records in their respective functional currency, Chinese Renminbi (“RMB”) and Hong Kong dollars (“HKD”), being the lawful currency in the PRC and Hong Kong, respectively. Assets and liabilities of foreign subsidiaries are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average rate of exchange prevailing during the period. The related transaction adjustments are reflected in “Accumulated other comprehensive income’’ in the equity section of the Company’s consolidated balance sheet. A summary of exchange rate is as follows:

December 31,

2013

2012

Balance sheet items, except for equity accounts

RMB6.0537=

RMB6.3086=

HKD7.7539=

HKD7.7507=

Year Ended December 31,

2013

2012

2011

Items in statements of income and cash flows

RMB6.1412=

RMB6.3116=

RMB6.4640=

HKD7.7565=

HKD7.7556=

HKD7.7793=

Cash and Cash Equivalents, Policy [Policy Text Block]

(e)

Cash

Cash consists of cash on hand and at banks.

Trade and Other Accounts Receivable, Policy [Policy Text Block]

(f)

Accounts receivable

The Company only grants credit terms to established customers who are deemed to be financially responsible. Credit periods to independent customers are within 180 days after customers received the purchased goods.

The Company maintains allowances for doubtful accounts for estimated losses. The Company reviews customer credit worthiness, past transaction history, and changes in payment terms when determining the adequacy of these allowances. Accounts are written off against the allowance when it becomes evident collection will not occur.

No allowance for doubtful accounts has been provided for accounts receivable from third party customers for the years ended December 31, 2013 and 2012, respectively. The company collected a majority of receivable balances from third party customers as of December 31, 2013 and 2012 within 60 days subsequent to respective balance sheet dates, and historically has not experienced uncollectible accounts from customers granted with credit sales.

Revenue Recognition, Policy [Policy Text Block]

(g)

Revenue recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price to the customer is fixed or determinable, and collection of the resulting receivable is reasonably assured.

With respects to the sale of frozen fish and other marine catches to third party customers, most of which are sole proprietor regional wholesalers in China, the Company recognizes revenue when customers pick up purchased goods at the Company’s cold storage warehouse, after payment is received by the Company or credit sale is approved by the Company for recurring customers who have history of financial responsibility. The Company does not offer promotional payments, customer coupons, rebates or other cash redemption offers to its customers. The Company does not accept returns from customers. Deposits or advance payments from customers prior to delivery of goods are recorded as receipt in advance.

Government Contractors, Policy [Policy Text Block]

(h)

Government grant

Government grants are recognized at their fair value where there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognized as income over the periods necessary to match the grant on a systematic basis to the costs that it is intended to compensate. Where the grant relates to an asset, the fair value is credited to the cost of the asset and is released to the income statement over the expected useful life in a consistent manner with the depreciation method for the relevant asset.

Deferred Income, Policy [Policy Text Block]

(i)

Deferred income

Deferred income represents income collected but not earned as of the report date. This is primarily composed of receipts of the government grants to construct new fishing vessels. Upon the completion of the construction of the fishing vessels, the grant is deducted from the cost of the fishing vessels.

Fishing Licenses [Policy Text Block]

(j)

Fishing licenses

Each of the Company’s fishing vessels requires an approval from Ministry of Agriculture of the People's Republic of China to carry out ocean fishing projects in foreign territories. These approvals are valid for a period from three to twelve months, and are awarded to the Company at no cost. The Company applies for the renewal of the approval prior to expiration to avoid interruptions of fishing vessels’ operations.

Each of the Company’s fishing vessels operated in Indonesia water requires a fishing license granted by the authority in Indonesia. Indonesia fishing licenses remain effective for a period of twelve months and the Company applies for renewal prior to expiration. The Company records cost of Indonesia fishing licenses in prepaid expenses and amortizes over the effective period of the licenses.

Inventory, Policy [Policy Text Block]

(k)

Inventories

Inventories are stated at the lower of cost or market. Cost comprises of fuel, depreciation, amortization, direct labor, shipping, consumables, and government levied charges and taxes. Consumables include fishing nets and metal containers used by fishing vessels. The Company’s fishing fleets in India and Indonesia waters operate around the year, although the May to July period demonstrates lower catch quantities compared to the October to January peak season. Cost of frozen fish and other marine catches at period-ends is calculated using the weighted average method. There was no inventory valuation reserve provided as at December 31, 2013 and 2012.

Prepaid Fixed Asset Deposits [Policy Text Block]

(l)

Prepaid fixed asset deposits

Prepaid fixed assets deposits represents prepayments of construction costs for the construction of 32 fishing vessels. Prepaid fixed assets deposits shall be reclassified to property, plant and equipment upon construction completion.

Property, Plant and Equipment, Policy [Policy Text Block]

(m)

Property, plant and equipment

Property, plant and equipment are recorded at cost less accumulated depreciation. Expenditures for major additions and betterments are capitalized. Depreciation of property, plant and equipment is computed by the straight-line method over the assets estimated useful lives.

Upon sale or retirement of property, plant and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in operations.

The estimated useful lives of the assets are as follows:

Estimated lives

Fishing vessel

25-Oct

Major improvement on fishing vessel

20-Apr

Motor vehicle

5-Mar

Ship and office equipment

5-Mar

Expenditures for repairs and maintenance, which do not extend the useful life of the assets, are expensed as incurred.

Interest Capitalization, Policy [Policy Text Block]

(n)

Capitalized interest

Interest associated with the construction of a fishing vessel is capitalized and included in the cost of the fishing vessels. When no debt is incurred specifically for the construction of a fishing vessel, interest is capitalized on amounts expended on the construction using weighted-average cost of the Company’s outstanding borrowings. Capitalization of interest ceases when the construction is substantially complete or the construction activity is suspended for more than a brief period. The Company capitalized interest of $1,094,589, $545,407 and $109,899 for the years ended December 31, 2013, 2012 and 2011, respectively in the fishing vessels under construction.

Property, Plant and Equipment, Impairment [Policy Text Block]

(o)

Impairment of long-lived assets

In accordance with FASB ASC Topic 360, “Property, Plant and Equipment”, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. If long-lived assets are to be disposed, depreciation is discontinued, if applicable, and the assets are reclassified as held for sale at the lower of their carrying amounts or fair values less costs to sell.

Income Tax, Policy [Policy Text Block]

(p)

Income taxes

Under the current laws of the Cayman Islands and British Virgin Islands, the Company and Merchant Supreme are not subject to any income or capital gains tax, and dividend payments that the Company may make are not subject to any withholding tax in the Cayman Islands or British Virgin Islands. Under the current laws of Hong Kong, Prime Cheer is not subject to any capital gains tax and dividend payments and are not subject to any withholding tax in Hong Kong.

The Company is not incorporated nor does it engage in any trade or business in the United States and is not subject to United States federal income taxes. The Company did not derive any significant amount of income subject to such taxes after completion of the Share Exchange and accordingly, no relevant tax provision is made in the consolidated statements of operations.

Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be effective when the differences are expected to reverse.

Deferred tax assets are reduced by a valuation allowance to the extent that management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated statements of income in the period that includes the enactment date.

The Company prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax position taken in the tax return. This interpretation also provides guidance on de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods and income tax disclosures. As of December 31, 2013 and 2012, there were no amounts that had been accrued with respect to uncertain tax positions.

The Company's VIE, Pingtan Fishing, is a qualified ocean fishing enterprise certified by the Ministry of Agriculture of the PRC. The qualification is renewed on April 1 each year. Pingtan Fishing is exempt from income tax derived from its ocean fishing operations in the periods it processes a valid Ocean Fishing Enterprise Qualification Certificate issued by the Ministry of Agriculture of the PRC.

In addition, Pingtan Fishing is not subject to foreign income taxes for its operations in India and Indonesia Exclusive Economic Zones.

Fair Value Measurement, Policy [Policy Text Block]

(q)

Fair value measurements

In January 2010, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update “ASU 2010-06” “Fair Value Measurements and Disclosures”. The new guidance clarifies two existing disclosure requirements and requires two new disclosures as follows: (1) a “gross” presentation of activities (purchases, sales, and settlements) within the Level 3 rollforward reconciliation, which will replace the “net” presentation format; and (2) detailed disclosures about the transfers in and out of Level 1 and 2 measurements. This guidance is effective for the first interim or annual reporting period beginning after December 15, 2009, except for the gross presentation of the Level 3 rollforward information, which is required for annual reporting periods beginning after December 15, 2010, and for interim reporting periods thereafter. The Company adopted the amended fair value disclosures guidance on January 1, 2012.

As of December 31, 2013 and 2012, none of the Company’s financial assets or liabilities were measured at fair value on a recurring basis. As of December 31, 2013 and 2012, none of the Company’s non-financial assets or liabilities was measured at fair value on a nonrecurring basis.

The carrying values of the Company’s financial assets and liabilities, including accounts receivable, other receivables, other current assets, short-term loans, accounts payable, and accrued liabilities and other payables, are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and if applicable, their stated interest rate approximates current rates available. It is not practicable to estimate the fair values of advance to and advance from related parties because of the related party nature of such advances

Commitments and Contingencies, Policy [Policy Text Block]

(r)

Commitments and contingencies

In the normal course of business, the Company is subject to contingencies, including legal proceedings and environmental claims arising out of the normal course of businesses that relate to a wide range of matters, including among others, contracts breach liability. The Company records accruals for such contingencies based upon the assessment of the probability of occurrence and, where determinable, an estimate of the liability. Management may consider many factors in making these assessments including past history, scientific evidence and the specifics of each matter.

The Company’s management has evaluated all such proceedings and claims that existed as of December 31, 2013 and 2012. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s financial position, liquidity or results of operations.

Economic and Political Risks [Policy Text Block]

(s)

Economic and political risks

The Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC economy.

The Company’s operation in the PRC is subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances aboard, and rates and methods of taxation, among other things.

According the sale agreement signed on December 4, 2013, the Company does not own 20 fishing vessels but has the operating license rights to operate these vessels which are owned by Hong Long and entitled to 100% of net profit (loss) of the vessels. The Company has latitude in establishing price and discretion in supplier selection. There were no economic risks associated with the operating license rights but the Company may need to bear the operation risks and credit risks as aforementioned.

Pension and Other Postretirement Plans, Nonpension Benefits, Policy [Policy Text Block]

(t)

Pension and employee benefits

Cost for pension and employee benefits was $24,502, $nil and $nil for the years ended December 31, 2013, 2012 and 2011, respectively.

Segment Reporting, Policy [Policy Text Block]

(u)

Segment information

ASC 280 “Segment reporting” establishes standards for reporting information on operating segments in interim and annual financial statements. The Company currently has only one segment, all of the Company’s continuing operations and customers are in the PRC and all income is derived from ocean fishery.

Earnings Per Share, Policy [Policy Text Block]

(v)

Earnings per ordinary share

Earnings per ordinary share (basic and diluted) is based on the net income attributable to ordinary shareholders divided by the weighted average number of ordinary shares outstanding during each period. Ordinary share equivalents are not included in the calculation of diluted earnings per ordinary share if their effect would be anti-dilutive. Retroactive treatment as required by FASB ASC paragraph 260-10-55-12 has been applied in computing earnings per share to reflect the business combination held on February 25, 2013.

The following table sets forth the computation of basic and diluted net income per ordinary share:

Year Ended December 31,

2013

2012

2011

(As restated)

Net income

47,135,794

24,280,268

10,440,337

- From continuing operations

51,910,662

84,494,428

90,257,249

- From discontinued operations

99,046,456

108,774,696

100,697,586

Weighted average number of ordinary shares outstanding (Basic and diluted) (As restated)

78,772,743

77,215,000

Earnings per ordinary share (Basic and diluted)

- From continuing operations

0.6

0.32

0.14

- From discontinued operations

0.66

1.09

1.17

- Net income

1.26

1.41

1.31

For the years ended December 31, 2013, 2012 and 2011, the number of securities convertible into ordinary shares not included in diluted EPS because the effect would have been anti-dilutive consists of the following:

Year Ended December 31,

2013

2012

2011

Warrants to purchase ordinary share

8,966,667

New Accounting Pronouncements, Policy [Policy Text Block]

(w)

Recently issued accounting standards

In February 2013, the FASB issued new authoritative accounting guidance related to the recognition and measurement of obligations arising from joint and several liability arrangements. This authoritative accounting guidance is effective for interim and annual periods beginning after December 15, 2013 and is to be applied retrospectively. Based on its evaluation, the Company determined this guidance does not currently impact the Company’s financial statements and disclosures.

In July 2013, the FASB issued new authoritative accounting guidance related to the reporting of unrecognized tax benefits when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The guidance states an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carry-forward, a similar tax loss, or a tax credit carry-forward, with certain exceptions. This authoritative accounting guidance is effective for interim and annual periods beginning after December 15, 2013, and is to be applied prospectively to all unrecognized tax benefits that exist at the effective date. The Company determined this guidance does not significantly impact the Company’s financial statements and disclosures.

There are no new significant accounting standards applicable to the Company that have been issued but not yet adopted by the Company as of December 31, 2013.

DESCRIPTION_OF_BUSINESS_AND_OR1

DESCRIPTION OF BUSINESS AND ORGANIZATION (Tables)	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Schedule Of Subsidiary and Variable Interest Entity [Table Text Block]	'
	Details of the Company’s subsidiaries and VIEs which are included as continuing operations in these consolidated financial statements as of December 31, 2013 are as follows:

	Name of subsidiaries	Place and date of	Percentage of ownership	Principal activities
		incorporation

	Merchant Supreme	BVI,	100% held by PME	Intermediate holding company
	Co., Ltd. (“Merchant	25-Jun-12
	Supreme”)

	Prime Cheer	Hong Kong,	100% held by Merchant	Intermediate holding company
	Corporation Ltd.	3-May-12	Supreme
	(“Prime Cheer”)

	Pingtan Guansheng	PRC,	100% held by Prime Cheer	Intermediate holding company
	Ocean Fishing Co.,	12-Oct-12
	Ltd. ("Pingtan
	Guansheng")

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
DISCONTINUED OPERATIONS (Tables)	Dec. 31, 2013
Schedule Of Disposal Groups Including Discontinued Operations Income Statement Disclosures [Table Text Block]	'
	The following table provides the financial results included in net income from discontinued operations during the periods presented:

		January 1 to		January 1 to		January 1 to
		December 4 ,		December 31,		December 31,
		2013		2012		2011

	Revenue	$	161,497,136	$	209,619,489	$	226,953,070

	Income from discontinued operations before income tax	$	67,251,697	$	110,805,122	$	126,499,331

	Income tax	$	-15,341,035	$	-26,310,694	$	-30,107,070

	Net income from discontinued operations	$	51,910,662	$	84,494,428	$	90,257,249

Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet and Additional Disclosures [Table Text Block]	'
	The carrying amounts of the major classes of assets and liabilities as of December 4, 2013 (disposal date) and December 31, 2012 were as follows:

		December 4,		December 31,
		2013		2012

	Cash	$	84,917,899	$	165,062,575
	Other current assets		28,821,788		36,613,112
	Non - current assets		148,710,213		159,784,757
	Total assets of discontinued operations	$	262,449,900	$	361,460,444

	Current liabilities	$	25,873,709	$	14,052,751

	Net asset disposed	$	236,576,191

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2013
Schedule Of Foreign Currency Translation [Table Text Block]	'
	A summary of exchange rate is as follows:

		December 31,
		2013		2012
	Balance sheet items, except for equity accounts		RMB6.0537=		RMB6.3086=
			HKD7.7539=		HKD7.7507=

		Year Ended December 31,
		2013		2012			2011
	Items in statements of income and cash flows		RMB6.1412=		RMB6.3116=			RMB6.4640=
			HKD7.7565=		HKD7.7556=			HKD7.7793=

Property Plant And Equipment Estimated Useful Lives [Table Text Block]	'
	The estimated useful lives of the assets are as follows:
		Estimated lives
	Fishing vessel	25-Oct
	Major improvement on fishing vessel	20-Apr
	Motor vehicle	5-Mar
	Ship and office equipment	5-Mar

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	The following table sets forth the computation of basic and diluted net income per ordinary share:

		Year Ended December 31,
		2013		2012
		(As restated)		(As restated)			2011

	Net income	$	47,135,794	$	24,280,268		$	10,440,337
	- From continuing operations		51,910,662		84,494,428			90,257,249
	- From discontinued operations	$	99,046,456	$	108,774,696		$	100,697,586

	Weighted average number of ordinary shares outstanding (Basic and diluted) (As restated)		78,772,743		77,215,000			77,215,000

	Earnings per ordinary share (Basic and diluted)
	- From continuing operations	$	0.6	$	0.32		$	0.14
	- From discontinued operations		0.66		1.09			1.17
	- Net income	$	1.26	$	1.41		$	1.31

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	'
	For the years ended December 31, 2013, 2012 and 2011, the number of securities convertible into ordinary shares not included in diluted EPS because the effect would have been anti-dilutive consists of the following:
		Year Ended December 31,
		2013		2012		2011

	Warrants to purchase ordinary share		8,966,667	8,966,667		8,966,667

Statement Of Balance Sheet [Member]	'
Schedule of Variable Interest Entities [Table Text Block]	'
	The creditors of Pingtan Fishing Group do not have recourse against the general creditors of their primary beneficiaries or other Group members.

		December 31,
		2013		2012
		(As Restated)		(As restated)

	ASSETS
	Cash	$	7,736,309	$	6,710,472
	Notes receivable (banker's acceptances) transferred from related parties		-		3,645,817
	Accounts receivable		9,133,130		11,478,436
	Other receivables		11,632		29,885
	Advances to related parties		-		49,802,897
	Inventories		9,095,736		194,331
	Prepaid expenses		4,306,753		386,966
	Long-term investment		3,468,953		3,328,789
	Deposit on potential Joint Venture		-		6,092,302
	Prepaid fixed asset deposits		33,985,148		-
	Property, plant and equipment, net		75,623,422		37,748,241
		$	143,361,083	$	119,418,136

	LIABILITIES
	Accounts payable - third parties	$	2,184,964	$	70,732
	- related parties		13,807,605		5,765,632
	Receipt in advance - third parties		297,034		-
	- related parties		-		12,681,102
	Short-term loans		9,085,353		25,169,260
	Accrued liabilities and other payables		4,423,847		1,033,640
	Long-term loans (short and long-term)		74,751,804		24,783,629
	Deferred income		520,045		-
		$	105,070,652	$	69,503,995

Statement Of Income [Member]	'
Schedule of Variable Interest Entities [Table Text Block]	'
	The following tables show the revenue and cost of revenue, and net income of the Company’s VIEs after eliminating the intercompany balances for the years ended December 31, 2013, 2012 and 2011.

		Year Ended December 31,
		2013		2012			2011

	Revenue	$	122,667,769	$	67,461,468		$	25,600,636

	Cost of revenue	$	-74,895,172	$	-41,570,472		$	-14,600,579

	Net income from continuing operations	$	49,449,338	$	24,280,268		$	10,440,337

CASH_Tables

CASH (Tables)	12 Months Ended
CASH (Tables)	Dec. 31, 2013
Cash and Cash Equivalents Classification and Exposure To Credit Risk [Table Text Block]	'
	Cash is classified by geographical areas is set out as follows:

		December 31,
		2013		2012
		2013		(As restated)

	Hong Kong	$	269,299	$	862
	The PRC		7,887,300		6,859,923
		$	8,156,599	$	6,860,785

	Maximum exposure to credit risk	$	8,156,599	$	6,860,785

	Cash is denominated in the following currencies:

		December 31,
		2013		2012
		2013		(As restated)

	USD	$	381,516	$	150,001
	RMB		7,737,225		6,709,922
	HKD		37,858		862
		$	8,156,599	$	6,860,785

ACCOUNTS_RECEIVABLE_Tables

ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
ACCOUNTS RECEIVABLE (Tables)	Dec. 31, 2013
Schedule Of Accounts Receivable Third Party [Table Text Block]	'
		December 31,
		2013		2012

	Accounts receivable from independent third parties	$	9,133,130	$	11,478,436

INVENTORIES_Tables

INVENTORIES (Tables)	12 Months Ended
INVENTORIES (Tables)	Dec. 31, 2013
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	Inventories as of December 31, 2013 and 2012 consisted of the following:

		December 31,
		2013		2012

	Frozen fish and marine catches in warehouse	$	9,095,736	$	161,484
	Frozen fish and marine catches in transit		-		32,847
		$	9,095,736	$	194,331

DEPOSIT_ON_POTENTIAL_JOINT_VEN1

DEPOSIT ON POTENTIAL JOINT VENTURE (Tables)	12 Months Ended
DEPOSIT ON POTENTIAL JOINT VENTURE (Tables)	Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
Schedule of Equity Method Investments [Table Text Block]	'
	Deposit on potential Joint Venture as of December 31, 2013 and 2012 consisted of the following:

		December 31,
		2013		2012

	Deposit for an asset interest acquisition and investment in a proposed Indonesia joint venture	$	-	$	6,090,302

PROPERTY_PLANT_AND_EQUIPMENTNE1

PROPERTY, PLANT AND EQUIPMENT,NET (Tables)	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT,NET (Tables)	Dec. 31, 2013
Schedule Of Property, Plant and Equipment, Useful Life [Table Text Block]	'
		December 31,
		2013		2012
		(As restated)		(As restated)

	Externally purchased fishing vessels	$	61,840,994	$	20,587,954
	Fishing vessels pursuant to capital lease – related party		26,435,403		-
	Office and other equipment		620,435		481,610
	Fishing vessels under construction		16,272,875		17,737,182
			105,169,707		38,806,746
	Less: accumulated depreciation		-3,199,000		-1,058,505
		$	101,970,707	$	37,748,241

ACCOUNTS_PAYABLE_RELATED_PARTI1

ACCOUNTS PAYABLE - RELATED PARTIES (Tables)	12 Months Ended
ACCOUNTS PAYABLE - RELATED PARTIES (Tables)	Dec. 31, 2013
Accounts Payable Related Parties [Abstract]	'
Accounts Payable Related Parties Disclosure [Table Text Block]	'
	Accounts payable to related parties as of December 31, 2013 and 2012 consisted of the following:

		December 31,
			2013		2012

	PT. Avona Mina Lestari	$	1,967,151	$	5,589,681
	Fuzhou Honglong Ocean Fishery Co., Ltd. (“Hong Long”)		6,214,491		175,951
	Hai Yi Shipping Limited		251,341		-
	Haifeng Dafu Enterprise Company Limited		377,216		-
	Hong Fa Shipping Limited		4,996,031		-
	Zhiyan Lin		1,375		-
		$	13,807,605	$	5,765,632

RECEIPT_IN_ADVANCE_RELATED_PAR1

RECEIPT IN ADVANCE - RELATED PARTIES (Tables)	12 Months Ended
RECEIPT IN ADVANCE - RELATED PARTIES (Tables)	Dec. 31, 2013
Receipt In Advance Related Parties [Abstract]	'
Receipt In Advance Related Parties [Table Text Block]	'
	Receipt in advance from related parties as of December 31, 2013 and 2012, consisted of the following:

		December 31,
		2013		2012

	Shenzhen Western Coast Fisherman Pier Co., Ltd (See Note 14 (a))	$	-	$	12,681,102

TERM_LOANS_Tables

TERM LOANS (Tables)	12 Months Ended
TERM LOANS (Tables)	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Schedule of Short-term Debt [Table Text Block]	'
	As of December 31, 2013 and 2012, the Company’s short and long-term loans consisted of the following items:

	(a)	Short-term loans

			December 31,
			2013				2012

	Classified by financial institutions:
	Industrial and Commercial Bank of China		$	-			$	14,390,323
	Fujian Haixia Bank			9,085,353				7,133,120
	China Minsheng Banking Corporation Limited			-				3,645,817
			$	9,085,353			$	25,169,260

	Additional information:
	Maximum balance outstanding during the year		$	25,169,260			$	25,169,260
	Interest expense for the years ended December 31, 2013 and 2012		$	1,229,965			$	1,873,866
	Weighted average interest rate			8.7	%			4.8	%

Schedule Of Short Term Debt Principal Or Outstanding [Table Text Block]	'
	The principal payments for the outstanding short-term loans are as follows:

											Outstanding
					Current						amount as of
			Principal		annualized						December
	Name of Banks		amount		interest rate		Terms of loans		Collateral		312,013

	Fujian Haixia		RMB30,000,000		Fixed rate at		Due on		Guaranteed by			4,955,647
	Bank, Fuzhou				8.400% per		March 22, 2014		Xinrong
	Hualin Branch				annum				Zhuo

	Fujian Haixia		RMB10,000,000		Fixed rate at		Due on		Guaranteed by			1,651,883
	Bank, Fuzhou				9.000% per		May 9, 2014		Xinrong
	Hualin Branch				annum				Zhuo

	Fujian Haixia		RMB15,000,000		Fixed rate at		Due on		Guaranteed by			2,477,823
	Bank, Fuzhou				9.000% per		April 23, 2014		Xinrong
	Hualin Branch				annum				Zhuo
											$	9,085,353

Schedule of Long-term Debt Instruments [Table Text Block]	'
	Term Loans consist of the following:

			December 31,
			2013				2012

	China Minsheng Banking Corporation Limited, Fuzhou Branch		$	14,829,774			$	20,028,216
	Fujian Haixia Bank, Fuzhou Hualin Branch			3,303,764				4,755,413
	The Export-Import Bank of China, Fujian Branch			46,706,972				-
	China Development Bank, Fujian Branch			9,911,294				-
			$	74,751,804			$	24,783,629
	Less: Current portion			-20,252,077				-8,094,308
	Long-term debt		$	54,499,727			$	16,689,321

	Additional information:
	Weighted average interest rate			6.8	%			7.9	%

Schedule of Maturities of Long-term Debt [Table Text Block]	'
	A summary of the principal payments for the outstanding term loans during the following eight fiscal years is as follows:

																						Total
							Principal payment due during															outstanding
	Name of bank		Collateral		Term of loans		2014			2015			2016			2017			2018-2021			loan amount

	China Minsheng		Pingtan Fishing’s		May 4, 2012 to		$	6,095,446		$	3,047,723		$	-		$	-		$	-		$	9,143,169
	Banking		and Hong Long’s		March 16, 2015
	Corporation		fishing vessels
	Limited, Fuzhou		and guaranteed
	Branch		by Xinrong
			Zhuo

	China Minsheng		Pingtan Fishing’s		June 15, 2012 to			1,486,694			743,347			-			-			-			2,230,041
	Banking		and Hong Long’s		March 16, 2015
	Corporation		fishing vessels
	Limited, Fuzhou		and guaranteed
	Branch		by Xinrong
			Zhuo

	China Minsheng		Pingtan Fishing’s		June 29, 2012 to			2,304,376			1,152,188			-			-			-			3,456,564
	Banking		and Hong Long’s		March 16, 2015
	Corporation		fishing vessels
	Limited, Fuzhou		and guaranteed
	Branch		by Xinrong
			Zhuo

	Fujian Haixia Bank,		Guaranteed by		April 25, 2012 to			1,651,882			1,651,882			-			-			-			3,303,764
	Fuzhou Hualin		Xinrong Zhuo		March 22, 2015
	Branch

	The Export-Import		Hong Long’s		July 5, 2013 to			3,386,359			4,724,383			5,418,174			6,111,965			-			19,640,881
	Bank of China		investment in		December 10,
			equity interest		2017
			of a PRC
			local bank

	The Export-Import		Hong Long’s		July 5, 2013 to			123,891			181,707			198,226			214,745			-			718,569
	Bank of China		investment in		December 10,
			equity interest		2017
			of a PRC
			local bank

	The Export-Import		Fujian International		July 5, 2013 to			660,753			925,054			1,024,167			1,172,836			-			3,782,810
	Bank of China		Trading and		December 10,
			Transportation		2017
			Company Ltd’s
			investment in
			equity interest
			of a PRC local
			bank

	The Export-Import		Guarantee of		July 5, 2013 to			3,270,727			4,592,233			5,219,948			2,775,162			-			15,858,070
	Bank of China		Hong Long		December 10,
					2017

	The Export-Import		Fujian International		September 29,			82,594			99,113			132,151			148,669			-			462,527
	Bank of China		Trading and		2013 to December
			Transportation		10, 2017
			Company Ltd’s
			investment in
			equity interest
			of a PRC local
	bank

The Export-Import		Hong Long’s		September 29,			214,745			297,339			363,414			379,933			-			1,255,431
Bank of China		investment in		2013 to
		equity interest		December 10,
		of a PRC		2017
		local bank

The Export-Import		Hong Long’s		September 29,			-			-			-			2,659,531			-			2,659,531
Bank of China		investment in		2013 to
		equity interest		December 10,
		of a PRC		2017
		local bank

The Export-Import		Pingtan Fishing’s		September 29,			396,451			561,640			660,753			710,309			-			2,329,153
Bank of China		investment in		2013 to
Fujian Branch		equity interest		December 10,
		of a PRC		2017
		local bank

China Development		Guaranteed by		November 28,			578,159			1,156,318			1,238,912			1,404,100			5,533,805			9,911,294
Bank Fujian		Xinrong Zhuo,		2013 to
Branch		Honghong Zhuo,		November 27,
		Mrs. and Mr.		2021
		Zhiyan Lin and
		14 fishing vessels
		under construction
						$	20,252,077		$	19,132,927		$	14,255,745		$	15,577,250		$	5,533,805		$	74,751,804

ACCRUED_LIABILITIES_AND_OTHER_1

ACCRUED LIABILITIES AND OTHER PAYABLES (Tables)	12 Months Ended
ACCRUED LIABILITIES AND OTHER PAYABLES (Tables)	Dec. 31, 2013
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	'
	Accrued liabilities and other payables as of December 31, 2013 and 2012 consisted of the following:

		December 31,
		2013		2012
		(As restated)		(As restated)

	Accrued salaries and wages	$	4,022,049	$	673,234
	Accrued expenses		393,214		-
	Other payables		228,009		360,532
		$	4,643,272	$	1,033,766

ADVANCES_TOFROM_RELATED_PARTIE1

ADVANCES TO/FROM RELATED PARTIES (Tables)	12 Months Ended
ADVANCES TO/FROM RELATED PARTIES (Tables)	Dec. 31, 2013
Schedule Of Names and Relationship Of Related Parties [Table Text Block]	'
	Advances to/from related parties as of December 31, 2013 and 2012 consisted of the following:

	(a) Name and relationship of related parties

	Name of related party		Relationship
	Xinrong Zhuo		CEO, Director and major shareholder of the Company, a Family Member*
	Ping Lin		Spouse of Xinrong Zhuo, a Family Member and shareholder of Hong Long
	Panxing Zhuo		Father of Xinrong Zhuo, a Family Member
	Honghong Zhuo		Shareholder of Pingtan Fishing,daughter of Xinrong Zhuo and a Family Member
	Qing Lin		Brother-in-law of Xinrong Zhuo, a Family Member
	Longfei Zhuo		Cousin of Xinrong Zhuo
	Sunqiang Zhou		Brother-in-law of Xinrong Zhuo, a Family Member
	Cheng Chen		Cousin of Xinrong Zhuo, a Family Member and shareholder of Hong Long
	Xiaojie Wu		Brother-in-law of Xinrong Zhuo
	XiaoqinXu		An employee of an affiliate company
	Xiaomei Yang		An employee of the Company and niece of Xinrong Zhuo
	Xiaofang Zhuo		Cousin of Xinrong Zhuo
	Longhua Zhuo		Sister of Xinrong Zhuo
	Zhiyan Lin		Shareholder and legal representative of Pingtan Fishing, a Family Member
	Fujian Yihai Investment Co., Ltd.		An affiliate company majority owned by Longjie Zhuo, sibling of Xinrong Zhuo
	Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.		An affiliate company owned by Longfei Zhuo and Honghong Zhuo
	Fujian Lutong Highway Engineering Construction Co., Ltd.		An affiliate company majority owned by Xiaojie Wu, brother-in-law of Xinrong Zhuo
	Fujian Haiyi International Shipping Agency Co., Ltd.		An affiliate company to which the Company acted as a trustee equity owner. Haiyi International is ultimately majority owned and controlled by Sunqiang Zhou
	Fujian Xinnong Ocean Fisheries Development Co., Ltd.		An affiliate company to which the Company acted as a trustee equity owner. Xinnong is ultimately owned and controlled by Xiaojie Wu
	Fuzhou Haoyouli Fisheries Development Co., Ltd.		An affiliate company to which the Company acted as trustee equity owner. Haoyouli is ultimately owned and controlled by Sunqiang Zhou
	Fuzhou Honglong Ocean Fishery Co., Ltd.		An affiliate company majority owned and controlled by Ping Lin
	Fujian Province Ocean Fishery Co., Ltd.		An affiliate company majority owned and controlled by Fuzhou Honglong Ocean Fishery Co., Ltd.
	PT. Avona Mina Lestari		An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management and fishing vessel service
	PT. DwikaryaReksaAbadi		An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management and fishing vessel service
	Haifeng Dafu Enterprise Company Limited		An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in the Hong Kong Special Administrative Region of the PRC (“Hong Kong”)
	Hai Yi Shipping Limited		An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)


	China Communication Materials Central and South Co., Ltd.		An affiliate company majority-owned by Fujian Lutong Highway Engineering
	Fujian International Trading and Transportation Co., Ltd.		An affiliate company owned by Yihai Investment and Longhao Zhuo, sibling of Xinrong Zhuo and a Family Member
	Fuzhou Dongxing Longju Real Estate Co., Ltd.		An affiliate company owned by Xinrong Zhuo
	Shenzhen Western Coast Fisherman Pier Co., Ltd.		An affiliate company owned by Xinrong Zhuo
	Pingtan Heshun Fuel Co., Ltd.		An affiliate company under Xinrong Zhuo’s common control
	Fuzhou Hairong Trading Co., Ltd.		An affiliate company under Xinrong Zhuo’s common control
	Hong Fa Shipping Limited		An affiliate company ultimately owned by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)

Schedule Of Advances To Related Parties [Table Text Block]	'
	(b) Advances to related parties



			December 31,
			2013		2012

	Honghong Zhuo		$	-	$	1,642,203
	Panxing Zhuo			-		6,196,248
	Qing Lin			-		100,855
	Xiaofang Zhuo			-		769,251
	Xiaomei Yang			-		7,598,782
	China Communication Materials Central and South Co., Ltd			-		6,895,349
	Fujian Haiyi International Shipping Agency Co., Ltd.			-		243,117
	Fujian Lutong Highway Engineering Construction Co., Ltd.			-		2,161,177
	Fujian Yihai Investment Co., Ltd			-		13,467,150
	Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.			-		956,315
	Fuzhou Haoyouli Fisheries Development Co., Ltd.			-		7,204,451
	Fuzhou Wanhao Real Estate Property Investment Co., Ltd			-		2,567,923
			$	-	$	49,802,821

Schedule Of Advances From Related Parties [Table Text Block]	'
	(c)	Advances from related parties

			December 31,
			2013		2012

	Kit Chan		$	-	$	153,961

CAPITAL_Tables

CAPITAL (Tables)	12 Months Ended
CAPITAL (Tables)	Dec. 31, 2013
Stockholders' Equity Note [Abstract]	'
Schedule of Warrants outstanding [Table Text Block]	'
	A summary of all Warrants outstanding as of December 31, 2013 is presented below:

		Number of
		Warrants	Exercise Price		Terms

	Exercisable as of December 31, 2013	8,966,667	$	12	4.2 years

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
RELATED PARTY TRANSACTIONS (Tables)	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Schedule of Related Party Transactions [Table Text Block]	'
			Year Ended December 31,
			2013		2012		2011

	Service fee
	Hai Yi Shipping Limited (6)		$	230,903	$	-	$	-

	Sale of frozen fish and other marine catches
	Shenzhen Western Coast Fisherman Pier Co., Ltd.		$	10,372,611	$	-	$	-
	Fuzhou Haifeng Dafu Ocean Fishing Co., Ltd.			-		4,574,118		4,312,036
	Fujian Xinnong Ocean Fisheries Development Co., Ltd.			-		8,948,761		-
	Cheng Chen			-		185,839		179,378
	Longhua Zhou			-		78,902		-
	Total sales		$	10,372,611	$	13,787,620	$	4,491,414

	Purchase of fuel, fishing nets and other on board consumables (1)
	PT. Avona Mina Lestari		$	14,746,582	$	10,709,195	$	3,440,000
	PT. Dwikarya Reksa Abadi			757,557		-		-
	Zhiyan Lin			1,126		-		-
				15,505,265		10,709,195		3,440,000

	Purchase of fuel, fishing nets and other on board consumables paid on behalf
	Fuzhou Honglong Ocean Fishery Co., Ltd.			1,953,494		3,245,177		1,037,441
	Hong Fa Shipping Limited			16,065,535		-		-
				18,019,029		3,245,177		1,037,441

	Purchase of vessel maintenance service (2)
	PT. Avona Mina Lestari			2,981,043		1,901,250		1,602,900
	PT. Dwikarya Reksa Adadi			-		-		1,675,674
				2,981,043		1,901,250		3,278,574

	Purchase of vessel maintenance service paid on behalf
	Fuzhou Honglong Ocean Fishery Co., Ltd.			1,196,983		-		-

	Purchase of transportation service (2)
	Haifeng Dafu Enterprise Company Limited			4,122,861		2,118,321		237,207
	Hai Yi Shipping Limited			1,653,682		505,154		352,252
	Hong Fa Shipping Limited			3,345,589		1,016,098		-
	PT. Avona Mina Lestari			35,149		573,545		1,402,616
				9,157,281		4,213,118		1,992,075


			Year Ended December 31,
			2013		2012		2011

	Cold storage warehouse and office rental
	Ping Lin (5)		$	13,678	$	5,545	$	-
	Fuzhou Honglong Ocean Fishery Co., Ltd. (3)			-		206,498		488,861
				13,678		212,043		488,861

	Indonesia fleet vessel agency fee payable (4)
	PT. Avona Mina Lestari			1,042,738		410,000		90,000

	Crewmen compensation paid on behalf
	Fuzhou Honglong Ocean Fishery Co., Ltd.			-		435,569		155,569
	PT. Avona Mina Lestari			1,125,043		550,000		153,156
				1,125,043		985,569		308,725
	Indonesia fishing licenses paid on behalf
	PT. Avona Mina Lestari			1,748,239		1,155,774		305,318
	Total purchases and expenses		$	50,789,299	$	22,832,126	$	10,940,994

	-1	Fuel, fishing nets and other consumables were sold to Pingtan Fishing.

	-2	Vessel maintenance and transportation services were charged to Pingtan Fishing at prices mutually agreed by the related parties and Pingtan Fishing.

-3	The Company sub-leased office area and cold storage warehouse cells from Hong Long. Pursuant to an Office Space Rental and Staff Dispatch Agreement entered into on January 1, 2010 with a three-year term, annual lease and facilities expenses are RMB1,000,000. Cold storage warehouse cell sub-lease contracts were entered into simultaneously with Hong Long’s lease contracts with the third party lessor, which are renewed every 12-to-16 months. The agreements were terminated on July 31, 2012.

-4	Pursuant to a Fishery Cooperative Agreement dated December 31, 2012 with one-year term, entered into between Pingtan Fishing and Avona, Pingtan Fishing is payable to Avona an annual agency fee, calculated at mutually agreed amount of $20,000, for the period from January 1, 2013 to December 31, 2013, Avona acts as an agent for each of Pingtan Fishing’s fishing vessels. The agreement continues to be executed without disagreement from both parties.

-5	Pingtan Fishing entered into a three-year term office rental lease with Ping Lin on July 31, 2012. The annual lease is $13,678.

-6	On July 1, 2013, the Company entered into a service agreement with Hai Yi Shipping Limited that provided the Company a portion of use of premises located in Hong Kong as office, and clerical and administrative support and consultation services. The agreement will expire on December 31, 2014.

OPERATING_LEASE_COMMITMENT_Tab

OPERATING LEASE COMMITMENT (Tables)	12 Months Ended
OPERATING LEASE COMMITMENT (Tables)	Dec. 31, 2013
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	'
	The total future minimum lease payments under non-cancellable operating leases with respect to service fee, cold storage warehouse and office as of December 31, 2013 were as follows:

				Cold storage
		Service fee		Warehouse		Office rental		Total

	For the years ended December 31,
	2014	$	461,961	$	244,637	$	13,876	$	720,474
	2015		-		-		8,094		8,094
		$	461,961	$	244,637	$	21,970	$	728,568

Schedule Of Future Minimum Rental Payments For Operating Leases Related Party and Non Related Party [Table Text Block]	'
	The total future lease payments as of December 31, 2013 are summarized as follows:

				Cold storage
		Service fee		Warehouse		Office rental		Total

	Related parties commitments	$	461,961	$	-	$	21,970	$	483,931
	Non-related parties commitments		-		244,637		-		244,637
		$	461,961	$	244,637	$	21,970	$	728,568

CONDENSED_PARENT_COMPANY_FINAN1

CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Tables)	12 Months Ended
CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Tables)	Dec. 31, 2013
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]	'
Schedule of Condensed Balance Sheet [Table Text Block]	'
	CONDENSED BALANCE SHEETS

		December 31,
		2013		2012
			(As Restated)		(As restated)
	Assets
	Cash	$	246,684	$	-
	Prepaid expenses		2,820		-
	Investments in subsidiaries		38,446,318		397,315,984
	Total current assets		38,695,822		397,315,984

	Other assets
	Property, plant and equipment		26,347,285		-
	Total assets	$	65,043,107	$	397,315,984

	Liabilities and equity
	Current liabilities
	Accrued liabilities and other payables	$	201,672	$	-

	Shareholders' equity
	Total shareholders' equity		64,841,435		397,315,984
	Total liabilities and equity	$	65,043,107	$	397,315,984

Schedule of Condensed Income Statement [Table Text Block]	'
	CONDENSED STATEMENTS OF INCOME

		Year Ended December 31,
		2013		2012
		(As Restated)		(As Restated)
	Cost of revenue	$	-88,118	$	-
	General and administrative expenses		-2,225,543		-
	Other income		117		-
	Equity in income of subsidiaries		101,360,000		108,774,696
	Net income	$	99,046,456	$	108,774,696

Schedule of Condensed Cash Flow Statement [Table Text Block]	'
	CONDENSED STATEMENTS OF CASH FLOW

		Year Ended December 31,
		2013		2012
		(As Restated)		(As Restated)
	Net cash used in operating activities	$	-2,002,592	$	-
	Net cash provided by investing activities		127,430,454		-
	Net cash used in financing activities		-125,181,178		-
	Net increase in cash		246,684		-
	Cash at the beginning of the year		-		-
	Cash at the end of the year	$	246,684	$	-

QUARTERLY_CONSOLIDATED_FINANCI1

QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED) (Tables)	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]	'
Schedule of Quarterly Financial Information [Table Text Block]	'
		22	QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED)

	The following table shows the Company’s quarterly consolidated financial data for the four quarters of 2013:

			Three Months Ended
			March 31		June 30		September 30		December 31
			(As restated)		(As restated)		(As restated)		(As restated)
	Revenue		$	19,669,476	$	21,362,357	$	20,609,107	$	61,026,829

	Cost of revenue			-14,653,078		-11,749,639		-12,976,891		-35,603,682

	Gross Profit			5,016,398		9,612,718		7,632,216		25,423,147

	Operating expenses:
	Selling and marketing expenses			-194,688		-174,046		-362,000		-887,544
	General and administrative expenses			-301,342		-866,194		-1,178,033		-846,068
	Total operating expenses			-496,030		-1,040,240		-1,540,033		-1,733,612

	Operating income			4,520,368		8,572,478		6,092,183		23,689,535

	Other income (expenses)
	Investment income			-		69,071		218		230
	Interest income			1,096		1,460		2,305		3,389
	Interest expenses			-433,681		-480,158		-1,209,961		-1,177,896
	Subsidy income			35,387		205		168,900		7,133,781
	Sundry income			2,003		11		7		123
	Gain/(Loss) on foreign exchange, net			207,984		-428,389		194,433		170,712

	Income from continuing operations before income taxes			4,333,157		7,734,678		5,248,085		29,819,874

	Income tax expense			-		-		-		-

	Net income from continuing operations			4,333,157		7,734,678		5,248,085		29,819,874

	Net income from discontinued operations, net of taxes			9,340,136		17,963,172		12,158,469		12,448,885

	Consolidated net income		$	13,673,293	$	25,697,850	$	17,406,554	$	42,268,759

RESTATEMENT_Tables

RESTATEMENT (Tables)	12 Months Ended
RESTATEMENT (Tables)	Dec. 31, 2013
Accounting Changes and Error Corrections [Abstract]	'
Schedule Of Error Corrections And Prior Period Adjustments In Balance Sheet [Table Text Block]	'
	The effect of the restatement on specific amounts provided in the consolidated financial statements is as follows:

	Condensed consolidated balance sheet data		December 31, 2012
			As previously		Adjustments				As Restated
			reported		Adjustments				As Restated
	Cash		$	10,426,140	$	-3,565,355	(a)		$	6,860,785
	Prepaid expenses			410,966		-24,000	(a)			386,966
	Total Current Assets			437,448,840		-3,589,355	(a)			433,859,485
	Property, plant and equipment			37,141,906		606,335				37,748,241
	Total Assets		$	484,009,837	$	-2,983,020			$	481,026,817

	Accrued liabilities and other payables			1,033,784		-18	(a)			1,033,766
	Total Current Liabilities			67,021,530		-18				67,021,512
	Total Liabilities			83,710,851		-18				83,710,833

	Stockholders’ Equity:
	Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 77,215,000 shares issued and outstanding at December 31, 2012)			79,055		-1,840	(a)			77,215
	Additional paid-in capital			141,381,098		-5,953,916	(a)			135,427,182
	Retained earnings			217,224,220		2,972,754	(a)			220,196,974
	Total Stockholders’ Equity			400,298,986		-2,983,002				397,315,984
	Total Liabilities and Stockholders’ Equity		$	484,009,837	$	-2,983,020			$	481,026,817

		(a)	To remove CEGI’s balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.


	Condensed consolidated balance sheet data		December 31, 2013
			As previously		Adjustments				As Restated
			reported		Adjustments				As Restated
	Prepaid expenses		$	2,380,874	$	1,928,700	(c)		$	4,309,574
	Total Current Assets			28,778,004		1,928,700				30,706,704
	Other Assets
	Other receivables			1,213,440		-1,213,440	(c)			-
	Prepaid fixed assets deposits			1,928,700		32,056,448	(c)			33,985,148
	Prepaid operating license rights			215,381,356		-215,381,356	(b)			-
	Property, plant and equipment, net			107,178,269		-5,207,562	(b)(c)			101,970,707
	Total Other Assets			329,170,718		-189,745,910				139,424,808
	Total Assets		$	357,948,722	$	-187,817,210			$	170,131,512

	Accrued liabilities and other payables			3,851,047		792,225	(c)			4,643,272
	Deferred income			1,733,485		-1,213,440	(c)			520,045
	Total Current Liabilities			51,211,565		-421,215				50,790,350
	Total Liabilities			105,711,292		-421,215				105,290,077

	Stockholders’ Equity:
	Additional paid-in capital			-		117,525,377	(b)			117,525,377
	Statutory reserves			22,410,773		-15,997,881	(b)			6,412,892
	Retained earnings (deficit)			199,341,512		-262,995,957	(c)(b)			-63,654,445
	Accumulated other comprehensive income			30,406,090		-25,927,534	(b)			4,478,556
	Total Stockholders’ Equity			252,237,430		-187,395,995				64,841,435
	Total Liabilities and Stockholders’ Equity		$	357,948,722	$	-187,817,210			$	170,131,512

		(b)	To adjust the prepaid operating license rights from appraisal value to the historical cost of the 20 vessels leased from Hong Long and to reflect the historical cost of the 20 leased vessels as a capital lease and reclassify such amounts to property, plant and equipment, to adjust the related depreciation and amortization expense, and to reflect any excess amounts paid for the leased operating rights as a capital distribution pursuant to ASC 805-50;
		(c)	To record other miscellaneous adjustments deemed necessary.

Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Income And Comprehensive Income [Table Text Block]	'
	Condensed consolidated statement of income and		For the Year ended December 31, 2012
	comprehensive income:		For the Year ended December 31, 2012
			As		Adjustments				As Restated
			previously
			reported
	Cost of revenue		$	41,876,140	$	-305,668			$	41,570,472
	Gross profit			25,585,328		305,668				25,890,996
	General and administrative expenses		$	2,839,848	$	-2,376,347	(a)		$	463,501
	Operating income			22,097,630		2,682,015				24,779,645
	Interest expense			-3,176,920		300,667				-2,876,253
	Net income from continuing operations			21,297,586		2,982,682				24,280,268
	Consolidated net income		$	105,792,014	$	2,982,682			$	108,774,696
	Comprehensive income		$	109,904,896	$	2,982,682			$	112,887,578

	Basic and diluted earnings per share
	- From continuing operations		$	0.27	$	0.05			$	0.32
	- From discontinued operations			1.07		0.02				1.09
	- Net income		$	1.34	$	0.07			$	1.41

	Weighted average number of ordinary shares outstanding
	- Basic and diluted			79,055,053		-1,840,053				77,215,000

		(a)	To remove CEGI’s balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.


	Condensed consolidated statement of income and		For the Year ended December 31, 2013
	comprehensive income:		For the Year ended December 31, 2013
			As		Adjustments				As Restated
			previously
			reported
	Cost of revenues		$	75,760,033	$	-776,743	(b)(c)		$	74,983,290
	Gross profit			46,907,736		776,743				47,684,479
	Operating income			42,097,821		776,743				42,874,564
	Interest expense			-4,171,989		870,293	(c)			-3,301,696
	Total other income/(expense)			3,390,937		870,293				4,261,230
	Net income from continuing operations			45,488,758		1,647,036				47,135,794
	Consolidated net income		$	97,399,420	$	1,647,036			$	99,046,456
	Comprehensive Income		$	105,577,539	$	1,663,962			$	107,241,501

	Basic and diluted earnings per share
	- From continuing operations		$	0.58	$	0.01			$	0.6
	- From discontinued operations			0.65		0.03				0.66
	- Net income		$	1.23	$	0.04			$	1.26

	Weighted average number of ordinary shares outstanding
	- Basic and diluted			79,055,053		-282,310				78,772,743

		(b)	To adjust the prepaid operating license rights from appraised fair value to the historical cost of 20 vessels leased from Hong Long and to reflect the historical cost of the 20 leased vessels as a capital lease and reclassify such amounts to property, plant and equipment, to adjust the related depreciation and amortization expense, and to reflect any excess amounts paid for the leased operating rights as a capital distribution pursuant to ASC 805-50;

		(c)	To record other miscellaneous adjustments deemed necessary.

Schedule Of Error Corrections And Prior Period Adjustments In Statement Of Cash Flows [Table Text Block]	'
	Condensed consolidated statement of cash flows		For the Year ended December 31, 2012
			As		Adjustments				As Restated
			previously
			reported
	Cash flows from operating activities:
	Net income		$	105,792,014	$	2,982,682	(a)			108,774,696
	Income from continuing operations			21,297,586		2,982,682				24,280,268
	Depreciation of property, plant and equipment			2,983,086		-305,668	(a)			2,677,418
	Accrued liabilities and other payables			763,533		14,054	(a)			777,587
	Net cash provided by operating activities from continuing operations			42,558,162		2,691,068				45,249,230
	Cash flows from investing activities:
	Purchase of property, plant and equipment			-33,692,090		-300,667	(a)			-33,992,757
	Net cash used in investing activities from continuing operations			-77,050,831		-300,667				-77,351,498
	Cash flows from financing activities:
	Cash acquired in recapitalization			5,955,756		-5,955,756	(a)			-
	Net cash provided by financing activities from continuing operations			43,107,542		-5,955,756				37,151,786

	Net increase in cash			61,284,375		-3,565,355				57,719,020
	Cash at the beginning of year			114,204,340		-				114,204,340
	Cash at the end of year		$	175,488,715	$	-3,565,355			$	171,923,360

		(a)	To remove CEGI’s balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.


	Condensed consolidated statement of cash flows		For the Year ended December 31, 2013
			As previously		Adjustments		As Restated
			reported		Adjustments		As Restated
	Cash flows from operating activities:
	Net income		$	97,399,420	$	1,647,036	$	99,046,456
	Income from continuing operations			45,488,758		1,647,036		47,135,794
	Depreciation of property, plant and equipment			3,297,751		-903,059		2,394,692
	Amortization of operating license rights			720,339		-720,339		-
	Notes receivable (banker's acceptances)			-		3,745,196		3,745,196
	Accrued liabilities and other payables			2,737,334		846,655		3,583,989
	Net cash provided by operating activities from continuing operations:			47,651,313		4,615,489		52,266,802

	Cash flows from investing activities
	Purchase of property, plant and equipment			-256,831,561		-870,293		-257,701,854
	Net cash used in investing activities from continuing operations			-335,642,367		-870,293		-336,512,660
	Cash flows from financing activities:
	Cash acquired in recapitalization			-		3,565,355		3,565,355
	Repayment of short-term loans			-60,613,140		-3,745,196		-64,358,336
	Net cash provided by financing activities from continuing operations			31,327,336		-179,841		31,147,495

	Net decrease in cash		$	-167,332,116	$	3,565,355	$	-163,766,761

DESCRIPTION_OF_BUSINESS_AND_OR2

DESCRIPTION OF BUSINESS AND ORGANIZATION (Details)	12 Months Ended
DESCRIPTION OF BUSINESS AND ORGANIZATION (Details)	Dec. 31, 2013
Merchant Supreme Co Ltd [Member]	'
DESCRIPTION OF BUSINESS AND ORGANIZATION [Line Items]	'
Place and date of incorporation (place)	'BVI
Place and date of incorporation (date)	25-Jun-12
Percentage of ownership	100.00%
Principal activities	'Intermediate holding company
Prime Cheer Corporation Ltd [Member]	'
DESCRIPTION OF BUSINESS AND ORGANIZATION [Line Items]	'
Place and date of incorporation (place)	'Hong Kong
Place and date of incorporation (date)	3-May-12
Percentage of ownership	100.00%
Principal activities	'Intermediate holding company
Pingtan Guansheng Ocean Fishing Co Ltd [Member]	'
DESCRIPTION OF BUSINESS AND ORGANIZATION [Line Items]	'
Place and date of incorporation (place)	'PRC
Place and date of incorporation (date)	12-Oct-12
Percentage of ownership	100.00%
Principal activities	'Intermediate holding company

DESCRIPTION_OF_BUSINESS_AND_OR3

DESCRIPTION OF BUSINESS AND ORGANIZATION (Details Textual) (USD $)

12 Months Ended

11 Months Ended

Dec. 31, 2013

Feb. 25, 2013

Dec. 31, 2012

Jun. 02, 2011

Dec. 31, 2013

Jun. 30, 2013

Sep. 01, 2013

Dec. 04, 2013

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Hong Long [Member]

MS.PingLin [Member]

Other shareholders [Member]

Mr.Zho [Member]

Pingtan Fishing [Member]

China Dredging Group Co Ltd [Member]

DESCRIPTION OF BUSINESS AND ORGANIZATION [Line Items]

Ordinary shares, par value (in dollars per share)

$0.00

Equity Method Investment, Ownership Percentage

100.00%

Business Acquisition, Date Of Acquisition Agreement

1-Mar-06

19-Jun-13

Business Combination, Consideration Transferred, Total

$410,100,000

Business Acquisition, Percentage of Voting Interests Acquired

66.50%

33.50%

56.20%

Related Party Transaction, Purchases from Related Party

388,330,794

139,014,679

249,316,115

Cost Of Fishing Vessels

$21,800,000

Operating Rights Appraised Description

'the Company and Hong Long entered into an agreement whereby Hong Long assigned its operating rights of 20 vessels for a period of 25 years pursuant to a license agreement to Pingtan Fishing. Subsequent to the licensing of the operating rights, Pingtan Fishing is entitled to 100% operation and operating results from vessels from September 1, 2013 onwards. Hong Long was not able to transfer ownership of these 20 vessels to the Company since Hong Long received subsidies from China’s central government budget in 2012 for the construction of these 20 vessels and Hong Long received notification from the Government prohibiting the sale or transfer of ownership of these vessels for a period of 10 years for fishing vessels that have received such subsidies.

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS (Details) (USD $)

3 Months Ended

12 Months Ended

11 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 04, 2013

Dec. 31, 2012

Dec. 31, 2011

China Dredging Group Co Ltd [Member]

Disposal Groups Including Discontinued Operations Income Statement Disclosures [Line Items]

Revenue

$161,497,136

$209,619,489

$226,953,070

Income from discontinued operations before income tax

67,251,697

110,805,122

126,499,331

Income tax

-15,341,035

-26,310,694

-30,107,070

Net income from discontinued operations

$12,448,885

$12,158,469

$17,963,172

$9,340,136

$51,910,662

[1]

$84,494,428

[1]

$90,257,249

[1]

$51,910,662

$84,494,428

$90,257,249

[1]

Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

DISCONTINUED_OPERATIONS_Detail1

DISCONTINUED OPERATIONS (Details 1) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 04, 2013	Dec. 31, 2012
DISCONTINUED OPERATIONS (Details 1) (USD $)	Dec. 31, 2013	Dec. 31, 2012	China Dredging Group Co Ltd [Member]	China Dredging Group Co Ltd [Member]
Disposal Groups Including Discontinued Operations Balance Sheet And Additional Disclosures [Line Items]	'	'	'	'
Cash	$8,156,599	$6,860,785	$84,917,899	$165,062,575
Other current assets	'	'	28,821,788	36,613,112
Non - current assets	139,424,808	47,167,332	148,710,213	159,784,757
Total assets of discontinued operations	170,131,512	481,026,817	262,449,900	361,460,444
Current liabilities	50,790,350	67,021,512	25,873,709	14,052,751
Net asset disposed	'	'	$236,576,191	'

DISCONTINUED_OPERATIONS_Detail2

DISCONTINUED OPERATIONS (Details Textual) (China Dredging Group Co Ltd [Member], USD $)	11 Months Ended	12 Months Ended
	Dec. 04, 2013	Dec. 31, 2013
China Dredging Group Co Ltd [Member]	'	'
DISCONTINUED OPERATIONS [Line Items]	'	'
Debt Instrument, Decrease, Forgiveness	'	$155,200,000
Debt Instrument, Interest Rate, Stated Percentage	'	4.00%
Debt Instrument, Maturity Date	'	19-Jun-15
Operating Rights Appraised Description	'	'the fair value of a 25-year lease agreement for the operating rights to 20 fishing vessels, with such rights appraised by an independent third party at fair market value of $216.1 million
Due to Related Parties, Current	'	172,500,000
Assets, Net, Total	'	236,600,000
Gain (Loss) on Disposition of Assets, Total	'	117,500,000
Payments for (Proceeds from) Businesses and Interest in Affiliates, Total	$543,800,000	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
ASSETS	'	'
Cash	$8,156,599	$6,860,785
Notes receivable (banker's acceptances) transferred from related parties	0	3,645,817
Accounts receivable	9,133,130	11,478,436
Advances to related parties	0	49,802,821
Inventories	9,095,736	194,331
Long-term investment	3,468,953	3,328,789
Deposit on potential Joint Venture	0	6,090,302
Prepaid fixed asset deposits	33,985,148	0
Property, Plant and Equipment, Net	101,970,707	37,748,241
Total assets	170,131,512	481,026,817
LIABILITIES	'	'
Accounts payable - third parties	2,184,964	70,732
Accounts payable - related parties	13,807,605	5,765,632
Receipt in advance - related parties	0	12,681,102
Short-term loans	9,085,353	25,169,260
Accrued liabilities and other payables	4,643,272	1,033,766
Long-term loans (short and long-term)	20,252,077	8,094,308
Deferred income	520,045	0
Total Current Liabilities	50,790,350	67,021,512
Variable Interest Entity, Primary Beneficiary [Member]	'	'
ASSETS	'	'
Cash	7,736,309	6,710,472
Notes receivable (banker's acceptances) transferred from related parties	0	3,645,817
Accounts receivable	9,133,130	11,478,436
Other receivables	11,632	29,885
Advances to related parties	0	49,802,897
Inventories	9,095,736	194,331
Prepaid expenses	4,306,753	386,966
Long-term investment	3,468,953	3,328,789
Deposit on potential Joint Venture	0	6,092,302
Prepaid fixed asset deposits	33,985,148	0
Property, Plant and Equipment, Net	75,623,422	37,748,241
Total assets	143,361,083	119,418,136
LIABILITIES	'	'
Accounts payable - third parties	2,184,964	70,732
Accounts payable - related parties	13,807,605	5,765,632
Receipt in advance - third parties	297,034	0
Receipt in advance - related parties	0	12,681,102
Short-term loans	9,085,353	25,169,260
Accrued liabilities and other payables	4,423,847	1,033,640
Long-term loans (short and long-term)	74,751,804	24,783,629
Deferred income	520,045	0
Total Current Liabilities	$105,070,652	$69,503,995

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) (USD $)	3 Months Ended				12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013		Dec. 31, 2012	Dec. 31, 2011
Variable Interest Entity [Line Items]	'	'	'	'	'		'	'
Revenue	'	'	'	'	$122,667,769		$67,461,468	$25,600,636
Cost of revenue	-35,603,682	-12,976,891	-11,749,639	-14,653,078	-74,983,290		-41,570,472	-14,600,579
Net income attributable to the Company	42,268,759	17,406,554	25,697,850	13,673,293	99,046,456	[1]	108,774,696	100,697,586
Variable Interest Entity, Primary Beneficiary [Member]	'	'	'	'	'		'	'
Variable Interest Entity [Line Items]	'	'	'	'	'		'	'
Revenue	'	'	'	'	122,667,769		67,461,468	25,600,636
Cost of revenue	'	'	'	'	-74,895,172		-41,570,472	-14,600,579
Net income attributable to the Company	'	'	'	'	$49,449,338		$24,280,268	$10,440,337

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Balance Sheet Items Except Equity Accounts [Member]	'	'	'
Foreign Currency Translation [Line Items]	'	'	'
Foreign Currency Translation Adjustment Description CNY For $1	'6.0537	'6.3086	'
Foreign Currency Translation Adjustment Description HKD For $1	'7.7539	'7.7507	'
Income Statement And Cashflow [Member]	'	'	'
Foreign Currency Translation [Line Items]	'	'	'
Foreign Currency Translation Adjustment Description CNY For $1	'6.1412	'6.3116	'6.4640
Foreign Currency Translation Adjustment Description HKD For $1	'7.7565	'7.7556	'7.7793

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3)	Dec. 31, 2013	Dec. 31, 2012
Fishing Vessel [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'10 years	'10 years
Maximum [Member] \| Fishing Vessel [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'25 years	'
Maximum [Member] \| Office Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'5 years	'
Maximum [Member] \| Major improvement on fishing vessel [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'20 years	'
Maximum [Member] \| Motor vehicle [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'5 years	'
Minimum [Member] \| Fishing Vessel [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'10 years	'
Minimum [Member] \| Office Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'3 years	'
Minimum [Member] \| Major improvement on fishing vessel [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'4 years	'
Minimum [Member] \| Motor vehicle [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Useful Life	'3 years	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) (USD $)	3 Months Ended				12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Earnings Per Share, Basic and Diluted [Line Items]	'	'	'	'	'		'		'
Net income	$42,268,759	$17,406,554	$25,697,850	$13,673,293	$99,046,456	[1]	$108,774,696		$100,697,586
- From continuing operations	29,819,874	5,248,085	7,734,678	4,333,157	47,135,794		24,280,268		10,440,337
- From discontinued operations	$12,448,885	$12,158,469	$17,963,172	$9,340,136	$51,910,662	[1]	$84,494,428	[1]	$90,257,249	[1]
Weighted average number of ordinary shares outstanding (Basic and diluted) (in shares)	'	'	'	'	78,772,743		77,215,000		77,215,000
Earnings per ordinary share from continuing operation (Basic and diluted) (in dollars per share)	'	'	'	'	$0.60		$0.32		$0.14
Earnings per ordinary share from discontinued operation (Basic and diluted) (in dollars per share)	'	'	'	'	$0.66		$1.09		$1.17
Earnings per ordinary share (Basic and diluted) (in dollars per share)	'	'	'	'	$1.26		$1.41		$1.31

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

SUMMARY_OF_SIGNIFICANT_ACCOUNT8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'
Warrants to purchase ordinary share	8,966,667	8,966,667	8,966,667

SUMMARY_OF_SIGNIFICANT_ACCOUNT9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Accounting Policies [Line Items]	'	'	'
Equity Method Investment, Ownership Percentage	100.00%	'	'
Interest Costs Capitalized	$1,094,589	$545,407	$109,899
Entitlement Of Net Profit Loss Towards Fishing Vessels By Entity, Percentage	100.00%	'	'
Merchant Supreme Co Ltd [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Pension and Other Postretirement Benefit Expense	24,502	0	0
Interest Costs Capitalized	$1,094,589	$545,407	$109,899
Merchant Supreme Co Ltd [Member] \| Third Party Customer [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Accounts Receivable Credit Period	'60 days	'	'
Merchant Supreme Co Ltd [Member] \| Independent Customer [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Accounts Receivable Credit Period	'180 days	'	'

CASH_Details

CASH (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Cash and Cash Equivalents [Line Items]	'	'
Maximum exposure to credit risk	$8,156,599	$6,860,785
USD [Member]	'	'
Cash and Cash Equivalents [Line Items]	'	'
Maximum exposure to credit risk	381,516	150,001
RMB [Member]	'	'
Cash and Cash Equivalents [Line Items]	'	'
Maximum exposure to credit risk	7,737,225	6,709,922
HKD [Member]	'	'
Cash and Cash Equivalents [Line Items]	'	'
Maximum exposure to credit risk	37,858	862
Hong Kong [Member]	'	'
Cash and Cash Equivalents [Line Items]	'	'
Maximum exposure to credit risk	269,299	862
PRC [Member]	'	'
Cash and Cash Equivalents [Line Items]	'	'
Maximum exposure to credit risk	$7,887,300	$6,859,923

ACCOUNTS_RECEIVABLE_Details

ACCOUNTS RECEIVABLE (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Accounts receivable from independent third parties	$9,133,130	$11,478,436

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Inventory [Line Items]	'	'
Frozen fish and marine catches in warehouse	$9,095,736	$161,484
Frozen fish and marine catches in transit	0	32,847
Inventory, Net, Total	$9,095,736	$194,331

LONGTERM_INVESTMENT_Details_Te

LONG-TERM INVESTMENT (Details Textual)	Dec. 31, 2013	Dec. 31, 2012	Oct. 31, 2012	Oct. 17, 2012	Oct. 17, 2012
	USD ($)	USD ($)	Pingtan Fishing [Member]	Pingtan Fishing [Member]	Pingtan Fishing [Member]
				USD ($)	CNY
Long Term Investments [Line Items]	'	'	'	'	'
Long-term investment	$3,468,953	$3,328,789	'	$3,400,000	21,000,000
Number Of Shares Held As Investment	'	'	'	15,113,250	15,113,250
Cost Method Investment Ownership Percentage	'	'	5.00%	'	'
Shares Held As Collateral For Long Term Loan, Amount	$2,300,000	$0	'	'	'

DEPOSIT_ON_POTENTIAL_JOINT_VEN2

DEPOSIT ON POTENTIAL JOINT VENTURE (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]	'	'
Deposit for an asset interest acquisition and investment in a proposed Indonesia joint venture	$0	$6,090,302

DEPOSIT_ON_POTENTIAL_JOINT_VEN3

DEPOSIT ON POTENTIAL JOINT VENTURE (Details Textual) (USD $)	12 Months Ended
	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'
Business Acquisition, Date of Acquisition Agreement	1-Mar-06
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage	80.00%
Payments to Acquire Interest in Joint Venture	$7,200,000
Cash [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Payments to Acquire Interest in Joint Venture	5,470,000
Cash Equivalents [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Payments to Acquire Interest in Joint Venture	$1,730,000

PROPERTY_PLANT_AND_EQUIPMENT_N

PROPERTY, PLANT AND EQUIPMENT, NET (Details) (USD $)	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT, NET (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	$105,169,707	$38,806,746
Less: Accumulated depreciation	-3,199,000	-1,058,505
Property, Plant and Equipment, Net	101,970,707	37,748,241
Fishing Vessels Pursuant To Capital Lease Related Party [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	26,435,403	0
Externally Purchased Fishing Vessels [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	61,840,994	20,587,954
Office and Other Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	620,435	481,610
Fishing Vessels Under Construction [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, Plant and Equipment, Gross	$16,272,875	$17,737,182

PROPERTY_PLANT_AND_EQUIPMENT_N1

PROPERTY, PLANT AND EQUIPMENT, NET (Details Textual) (USD $)

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 04, 2013

Hong Long [Member]

Cost of Sales [Member]

General and Administrative Expense [Member]

Fishing Vessel [Member]

Fishing Vessels Pursuant To Capital Lease Related Party [Member]

China Dredging Group Co Ltd [Member]

Property, Plant and Equipment [Line Items]

Depreciation of property, plant and equipment

$2,394,692

$2,677,418

$1,917,747

$2,368,010

$2,653,943

$1,917,747

$26,682

$23,475

Property, Plant and Equipment, Useful Life

'10 years

Net Carrying Amount Of Fishing Vessels

33,117,389

17,334,990

Historical Cost Of Fishing Vessel

Loans Pledged as Collateral

20,700,000

10,600,000

Loans Pledged As Collateral Fishing Vessels Under Construction

16,236,585

Appraised Fair Market Value Of Fishing Vessel

216,100,000

Percentage Entitled For Operations And Net Profit Loss From Fishing Vessels

100.00%

Majority Shareholder Percentage

50.00%

Property, Plant and Equipment, Gross

$105,169,707

$38,806,746

$26,435,403

Lease Term Description

'the Company determined that the lease term is over 75% of the estimated economic life of the vessels and the present value at the beginning of the lease term of the minimum lease payments equals or exceeds 90 percent of the excess of the fair value of the leased property from Hong Long at lease inception.

Exclusive Operating Rights Term

'25 years

ACCOUNTS_PAYABLE_RELATED_PARTI2

ACCOUNTS PAYABLE - RELATED PARTIES (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]	'	'
Accounts Payable - related parties	$13,807,605	$5,765,632
PT. Avona Mina Lestari [Member]	'	'
Related Party Transaction [Line Items]	'	'
Accounts Payable - related parties	1,967,151	5,589,681
Fuzhou Honglong Ocean Fishing Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Accounts Payable - related parties	6,214,491	175,951
Hai Yi Shipping Limited [Member]	'	'
Related Party Transaction [Line Items]	'	'
Accounts Payable - related parties	251,341	0
Haifeng Dafu Enterprise Company Limited [Member]	'	'
Related Party Transaction [Line Items]	'	'
Accounts Payable - related parties	377,216	0
Hong Fa Shipping Limited [Member]	'	'
Related Party Transaction [Line Items]	'	'
Accounts Payable - related parties	4,996,031	0
Zhiyan Lin [Member]	'	'
Related Party Transaction [Line Items]	'	'
Accounts Payable - related parties	$1,375	$0

RECEIPT_IN_ADVANCE_RELATED_PAR2

RECEIPT IN ADVANCE - RELATED PARTIES (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]	'	'
Shenzhen Western Coast Fisherman Pier Co., Ltd (See Note 14 (a))	$297,034	$0
Shenzhen Western Coast Fisherman Pier Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Shenzhen Western Coast Fisherman Pier Co., Ltd (See Note 14 (a))	$0	$12,681,102

TERM_LOANS_Details

TERM LOANS (Details) (USD $)	12 Months Ended
TERM LOANS (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Short-term Debt [Line Items]	'	'
Short-term loans	$9,085,353	$25,169,260
Maximum balance outstanding during the year	25,169,260	25,169,260
Interest expense for the years ended December 31, 2013 and 2012	1,229,965	1,873,866
Weighted average interest rate	8.70%	4.80%
Industrial and Commercial Bank Of China [Member]	'	'
Short-term Debt [Line Items]	'	'
Short-term loans	0	14,390,323
Fujian Haixia Bank [Member]	'	'
Short-term Debt [Line Items]	'	'
Short-term loans	9,085,353	7,133,120
China Minsheng Banking Corp. Ltd [Member]	'	'
Short-term Debt [Line Items]	'	'
Short-term loans	$0	$3,645,817

TERM_LOANS_Details_1

TERM LOANS (Details 1)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	USD ($)	USD ($)	Fujian Haixia Bank Limited, Fuzhou Hualin Branch Transaction One [Member]	Fujian Haixia Bank Limited, Fuzhou Hualin Branch Transaction One [Member]	Fujian Haixia Bank Limited, Fuzhou Hualin Branch Transaction Two [Member]	Fujian Haixia Bank Limited, Fuzhou Hualin Branch Transaction Two [Member]	Fujian Haixia Bank, Fuzhou Hualin Branch Transaction Three [Member]	Fujian Haixia Bank, Fuzhou Hualin Branch Transaction Three [Member]
			CNY	USD ($)	CNY	USD ($)	CNY	USD ($)
Short Term Debt Principal Or Outstanding [Line Items]	'	'	'	'	'	'	'	'
Principal amount	'	'	30,000,000	'	10,000,000	'	15,000,000	'
Current annualized interest rate	'	'	8.40%	'	9.00%	'	9.00%	'
Terms of loans	'	'	22-Mar-14	'	9-May-14	'	23-Apr-14	'
Collateral	'	'	'Guarantee by Xinrong Zhuo	'	'Guarantee by Xinrong Zhuo	'	'Guarantee by Xinrong Zhuo	'
Outstanding amount as of December 31,2013	$9,085,353	$25,169,260	'	$4,955,647	'	$1,651,883	'	$2,477,823

TERM_LOANS_Details_2

TERM LOANS (Details 2) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]	'	'
Long-term Debt, Total	$74,751,804	$24,783,629
Less: Current portion	-20,252,077	-8,094,308
Long-term debt	54,499,727	16,689,321
Weighted average interest rate	6.80%	7.90%
China Minsheng Banking Corporation Limited, Fuzhou Branch [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term Debt, Total	14,829,774	20,028,216
Fujian Haixia Bank, Fuzhou Hualin Branch [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term Debt, Total	3,303,764	4,755,413
The Export-Import Bank of China, Fujian Branch [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term Debt, Total	46,706,972	0
China Development Bank, Fujian Branch [Member]	'	'
Debt Instrument [Line Items]	'	'
Long-term Debt, Total	$9,911,294	$0

TERM_LOANS_Details_3

TERM LOANS (Details 3) (USD $)	12 Months Ended
TERM LOANS (Details 3) (USD $)	Dec. 31, 2013
Maturities Of Term Loans [Line Items]	'
Debt Instrument Periodic Payment Principal Current Year	$20,252,077
Debt Instrument Periodic Payment Principal Current Year One	19,132,927
Debt Instrument Periodic Payment Principal Current Year Two	14,255,745
Debt Instrument Periodic Payment Principal Current Year Three	15,577,250
Debt Instrument Periodic Payment Principal Current Year Four To Seven	5,533,805
Long-term loans - current portion	74,751,804
Minsheng Bank Of China, Fuzhou Branch Transaction One [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Pingtan Fishing's and Hong Long's fishing vessels and guaranteed by Xinrong Zhuo
Debt Instrument Term Description	'May 4, 2012 to March 16, 2015
Debt Instrument Periodic Payment Principal Current Year	6,095,446
Debt Instrument Periodic Payment Principal Current Year One	3,047,723
Debt Instrument Periodic Payment Principal Current Year Two	0
Debt Instrument Periodic Payment Principal Current Year Three	0
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	9,143,169
Minsheng Bank Of China, Fuzhou Branch Transaction Two [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Pingtan Fishing's and Hong Long's fishing vessels and guaranteed by Xinrong Zhuo
Debt Instrument Term Description	'June 15, 2012 to March 16, 2015
Debt Instrument Periodic Payment Principal Current Year	1,486,694
Debt Instrument Periodic Payment Principal Current Year One	743,347
Debt Instrument Periodic Payment Principal Current Year Two	0
Debt Instrument Periodic Payment Principal Current Year Three	0
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	2,230,041
Minsheng Bank Of China, Fuzhou Branch Transaction Three [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Pingtan Fishing’s and Hong Long’s fishing vessels and guaranteed by Xinrong Zhuo
Debt Instrument Term Description	'June 29, 2012 to March 16, 2015
Debt Instrument Periodic Payment Principal Current Year	2,304,376
Debt Instrument Periodic Payment Principal Current Year One	1,152,188
Debt Instrument Periodic Payment Principal Current Year Two	0
Debt Instrument Periodic Payment Principal Current Year Three	0
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	3,456,564
Fujian Haixia Bank, Fuzhou Hualin Branch [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Guaranteed by Xinrong Zhuo
Debt Instrument Term Description	'April 25, 2012 to March 22, 2015
Debt Instrument Periodic Payment Principal Current Year	1,651,882
Debt Instrument Periodic Payment Principal Current Year One	1,651,882
Debt Instrument Periodic Payment Principal Current Year Two	0
Debt Instrument Periodic Payment Principal Current Year Three	0
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	3,303,764
Export-Import Bank Of China [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Hong Long’s investment in equity interest of a PRC local bank
Debt Instrument Term Description	'July 5, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	3,386,359
Debt Instrument Periodic Payment Principal Current Year One	4,724,383
Debt Instrument Periodic Payment Principal Current Year Two	5,418,174
Debt Instrument Periodic Payment Principal Current Year Three	6,111,965
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	19,640,881
Export-Import Bank Of China One [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Hong Long’s investment in equity interest of a PRC local bank
Debt Instrument Term Description	'July 5, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	123,891
Debt Instrument Periodic Payment Principal Current Year One	181,707
Debt Instrument Periodic Payment Principal Current Year Two	198,226
Debt Instrument Periodic Payment Principal Current Year Three	214,745
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	718,569
Export-Import Bank Of China Two [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Fujian International Trading and Transportation Company Ltd’s investment in equity interest of a PRC local bank
Debt Instrument Term Description	'July 5, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	660,753
Debt Instrument Periodic Payment Principal Current Year One	925,054
Debt Instrument Periodic Payment Principal Current Year Two	1,024,167
Debt Instrument Periodic Payment Principal Current Year Three	1,172,836
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	3,782,810
Export-Import Bank Of China Three [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Guarantee of Hong Long
Debt Instrument Term Description	'July 5, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	3,270,727
Debt Instrument Periodic Payment Principal Current Year One	4,592,233
Debt Instrument Periodic Payment Principal Current Year Two	5,219,948
Debt Instrument Periodic Payment Principal Current Year Three	2,775,162
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	15,858,070
Export-Import Bank Of China Four [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Fujian International Trading and Transportation Company Ltd’s investment in equity interest of a PRC local bank
Debt Instrument Term Description	'September 29, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	82,594
Debt Instrument Periodic Payment Principal Current Year One	99,113
Debt Instrument Periodic Payment Principal Current Year Two	132,151
Debt Instrument Periodic Payment Principal Current Year Three	148,669
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	462,527
Export-Import Bank Of China Five [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Hong Long’s investment in equity interest of a PRC local bank
Debt Instrument Term Description	'September 29, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	214,745
Debt Instrument Periodic Payment Principal Current Year One	297,339
Debt Instrument Periodic Payment Principal Current Year Two	363,414
Debt Instrument Periodic Payment Principal Current Year Three	379,933
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	1,255,431
Export-Import Bank Of China Six [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Hong Long’s investment in equity interest of a PRC local bank
Debt Instrument Term Description	'September 29, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	0
Debt Instrument Periodic Payment Principal Current Year One	0
Debt Instrument Periodic Payment Principal Current Year Two	0
Debt Instrument Periodic Payment Principal Current Year Three	2,659,531
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	2,659,531
Export-Import Bank Of China Seven [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Pingtan Fishing’s investment in equity interest of a PRC local bank
Debt Instrument Term Description	'September 29, 2013 to December 10, 2017
Debt Instrument Periodic Payment Principal Current Year	396,451
Debt Instrument Periodic Payment Principal Current Year One	561,640
Debt Instrument Periodic Payment Principal Current Year Two	660,753
Debt Instrument Periodic Payment Principal Current Year Three	710,309
Debt Instrument Periodic Payment Principal Current Year Four To Seven	0
Long-term loans - current portion	2,329,153
China Development Bank, Fujian Branch [Member]	'
Maturities Of Term Loans [Line Items]	'
Debt Instrument, Collateral	'Guaranteed by Xinrong Zhuo, Honghong Zhuo, Mrs. and Mr. Zhiyan Lin and 14 fishing vessels under construction
Debt Instrument Term Description	'November 28, 2013 to November 27, 2021
Debt Instrument Periodic Payment Principal Current Year	578,159
Debt Instrument Periodic Payment Principal Current Year One	1,156,318
Debt Instrument Periodic Payment Principal Current Year Two	1,238,912
Debt Instrument Periodic Payment Principal Current Year Three	1,404,100
Debt Instrument Periodic Payment Principal Current Year Four To Seven	5,533,805
Long-term loans - current portion	$9,911,294

TERM_LOANS_Details_Textual

TERM LOANS (Details Textual) (USD $)

12 Months Ended

1 Months Ended

2 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Oct. 31, 2012

Sep. 30, 2013

Dec. 31, 2013

China Minsheng Banking Corp. Ltd [Member]

Fujian International Trading and Transportation Company, Collateral One [Member]

Fujian International Trading and Transportation Company, Collateral Two [Member]

Hong Long, Collateral One [Member]

Hong Long, Collateral Two [Member]

Hong Long, Collateral Three [Member]

Ping An Bank Co Ltd [Member]

Debt Instrument [Line Items]

Interest Expense, Long-term Debt

$2,071,731

$599,334

Debt Instrument, Maturity Date

18-Apr-15

25-Jun-14

23-Dec-14

Debt Instrument, Collateral

'Pingtan Fishing assigned 10 fishing vessels, as collateral to secure Hong Longs long-term loans from the financial institution in amount of approximately $10.8 million

'Pingtan Fishing assigned 12 fishing vessels, as collateral to provide maximum guarantees of $9.9 million

'Pingtan Fishing provide maximum guarantees approximately of $8.3 million to Hong Longs credit line in amount of $16.5 million

Debt Instrument Guaranteed Payment

46,300,000

Interest Costs Capitalized

1,094,589

545,407

109,899

Number Of Fishing Vessels Pledged Under Pledge Contract

Securities Received as Collateral

$3,800,000

$500,000

$700,000

$19,600,000

$1,300,000

Percentage of Investment Held As Collateral

0.30%

1.00%

2.86%

1.75%

2.70%

ACCRUED_LIABILITIES_AND_OTHER_2

ACCRUED LIABILITIES AND OTHER PAYABLES (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Accrued Liabilities And Other Payables [Line Items]	'	'
Accrued Liabilities and Other Liabilities	$4,643,272	$1,033,766
Pingtan Marine Enterprise [Member]	'	'
Accrued Liabilities And Other Payables [Line Items]	'	'
Accrued salaries and wages	4,022,049	673,234
Accrued expenses	393,214	0
Other payables	228,009	360,532
Accrued Liabilities and Other Liabilities	$4,643,272	$1,033,766

ADVANCES_TOFROM_RELATED_PARTIE2

ADVANCES TO/FROM RELATED PARTIES (Details)

12 Months Ended

Dec. 31, 2013

Xinrong Zhuo [Member]

Ping Lin [Member]

Panxing Zhuo [Member]

Honghong Zhuo [Member]

Qing Lin [Member]

Longfei Zhuo [Member]

Sunqiang Zhou [Member]

Cheng Chen [Member]

Xiaojie Wu [Member]

Xiaoqin Xu [Member]

Xiaomei Yang [Member]

Xiaofang Zhuo [Member]

Longhua Zhuo [Member]

Zhiyan Lin [Member]

Fujian Yihai Investment Co Ltd [Member]

Fuzhou Haifeng Dafu Ocean Fishing Co Ltd [Member]

Fujian Lutong Highway Engineering Construction Co Ltd [Member]

Fujian Haiyi International Shipping Agency Co Ltd [Member]

Fujian Xinnong Ocean Fisheries Development Co Ltd [Member]

Fuzhou Haoyouli Fisheries Development Co Ltd [Member]

Fuzhou Honglong Ocean Fishing Company Limited [Member]

Fujian Province Ocean Fishery Co Ltd [Member]

Pt Avona Mina Lestari [Member]

Pt Dwikarya Reksa Abadi [Member]

Haifeng Dafu Enterprise Company Limited [Member]

Hai Yi Shipping Limited [Member]

China Communication Materials Central and South Co Ltd [Member]

Fujian International Trading and Transportation Co Ltd [Member]

Fuzhou Dongxing Longju Real Estate Co Ltd [Member]

Shenzhen Western Coast Fisherman Pier Co Ltd [Member]

Pingtan Heshun Fuel Co Ltd [Member]

Fuzhou Hairong Trading Co Ltd [Member]

Hong Fa Shipping Limited [Member]

Related Party Transaction [Line Items]

Nature of Common Ownership or Management Control Relationships

'CEO, Director and major shareholder of the Company, a Family Member*

'Spouse of Xinrong Zhuo, a Family Member and shareholder of Hong Long

'Father of Xinrong Zhuo, a Family Member

'Shareholder of Pingtan Fishing,daughter of Xinrong Zhuo and a Family Member

'Brother-in-law of Xinrong Zhuo, a Family Member

'Cousin of Xinrong Zhuo

'Brother-in-law of Xinrong Zhuo, a Family Member

'Cousin of Xinrong Zhuo, a Family Member and shareholder of Hong Long

'Brother-in-law of Xinrong Zhuo

'An employee of an affiliate company

'An employee of the Company and niece of Xinrong Zhuo

'Cousin of Xinrong Zhuo

'Sister of Xinrong Zhuo

'Shareholder and legal representative of Pingtan Fishing, a Family Member

'An affiliate company majority owned by Longjie Zhuo, sibling of Xinrong Zhuo

'An affiliate company owned by Longfei Zhuo and Honghong Zhuo

'An affiliate company majority owned by Xiaojie Wu, brother-in-law of Xinrong Zhuo

'An affiliate company to which the Company acted as a trustee equity owner. Haiyi International is ultimately majority owned and controlled by Sunqiang Zhou

'An affiliate company to which the Company acted as a trustee equity owner. Xinnong is ultimately owned and controlled by Xiaojie Wu

'An affiliate company to which the Company acted as trustee equity owner. Haoyouli is ultimately owned and controlled by Sunqiang Zhou

'An affiliate company majority owned and controlled by Ping Lin

'An affiliate company majority owned and controlled by Fuzhou Honglong Ocean Fishery Co., Ltd.

'An affiliate company controlled by Xinrong Zhuo family domiciled in Indonesia, engaged in fishing base management and fishing vessel service

'An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in the Hong Kong Special Administrative Region of the PRC (“Hong Kong”)

'An affiliate company ultimately controlled by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)

'An affiliate company majority-owned by Fujian Lutong Highway Engineering

'An affiliate company owned by Yihai Investment and Longhao Zhuo, sibling of Xinrong Zhuo and a Family Member

'An affiliate company owned by Xinrong Zhuo

'An affiliate company under Xinrong Zhuo’s common control

'An affiliate company ultimately owned by Xinrong Zhuo and domiciled in Hong Kong Administrative Region of the PRC (“Hong Kong”)

ADVANCES_TOFROM_RELATED_PARTIE3

ADVANCES TO/FROM RELATED PARTIES (Details 1) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]	'	'
Advances to related parties	$0	$49,802,821
Honghong Zhuo [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	1,642,203
Panxing Zhuo [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	6,196,248
Qing Lin [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	100,855
Xiaofang Zhuo [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	769,251
Xiaomei Yang [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	7,598,782
China Communication Materials Central and South Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	6,895,349
Fujian Haiyi International Shipping Agency Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	243,117
Fujian Lutong Highway Engineering Construction Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	2,161,177
Fujian Yihai Investment Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	13,467,150
Fuzhou Haifeng Dafu Ocean Fishing Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	956,315
Fuzhou Haoyouli Fisheries Development Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	0	7,204,451
Fuzhou Wanhao Real Estate Property Investment Co Ltd [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances to related parties	$0	$2,567,923

ADVANCES_TOFROM_RELATED_PARTIE4

ADVANCES TO/FROM RELATED PARTIES (Details 2) (Kit Chan [Member], USD $)	Dec. 31, 2013	Dec. 31, 2012
Kit Chan [Member]	'	'
Related Party Transaction [Line Items]	'	'
Advances from related parties	$0	$153,961

CAPITAL_Details

CAPITAL (Details) (USD $)	12 Months Ended
CAPITAL (Details) (USD $)	Dec. 31, 2013
Class of Warrant or Right [Line Items]	'
Number of Warrants	8,966,667
Exercise Price	$12
Terms	'4 years 2 months 12 days

CAPITAL_Details_Textual

CAPITAL (Details Textual)	1 Months Ended		12 Months Ended			12 Months Ended
	Feb. 25, 2013	Jun. 30, 2011	Dec. 31, 2013	Dec. 31, 2012	Jun. 02, 2011	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	Pingtan Guansheng [Member]	Pingtan Fishing [Member]	Pingtan Fishing [Member]
							USD ($)	CNY
Stockholders Equity Note [Line Items]	'	'	'	'	'	'	'	'
Business Acquisition Contingent Consideration Issuance Shares	0.82947	'	'	'	'	'	'	'
Ordinary shares, par value (in dollars per share)	$0.00	'	$0.00	$0.00	$0.00	'	'	'
Percentage Of Net Profits Transfer To Statutory Reserve	'	'	'	'	'	10.00%	50.00%	50.00%
Shares Issued Under Purchase Agreement	25,000,000	'	'	'	'	'	'	'
Ordinary Stock Units Issued During Period Initial Public Offering Shares	'	'	30,329,883	'	'	'	'	'
Warrants Issued During Period Initial Public Offering Shares	'	'	3,966,667	5,000,000	'	'	'	'
Sale of Stock, Number of Shares Issued in Transaction	'	5,000,000	'	'	'	'	'	'
Sale of Stock, Price Per Share	'	'	'	'	$10	'	'	'
Proceeds from Issuance of Common Stock	'	$50,000,000	'	'	'	'	'	'
Exercise Price, Common Stock	'	$12	'	'	'	'	'	'
Warrant Term	'	'5 years	'	'	'	'	'	'
Common Stock Shares Reserved For Future Issuance Exercise Of Warrants	'	'	'	8,966,667	'	'	'	'
Net Profit Transferred To Statutory Surplus Reserves	'	'	'	'	'	'	3,024,131	'
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	'	'	6,412,892	19,421,017	'	'	'	80,000,000
Capital Injection Included In Registered Capital From Related Party	'	'	'	'	'	'	'	29,500,000
Amount Of Registered Capital As Per Audit	'	'	'	'	'	'	$6,254,178	50,500,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	'	'	$12	'	'	'	'	'

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details) (USD $)	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Sale of frozen fish and other marine catches	'		'		'
Sale of frozen fish and other marine catches, Total Sales	$10,372,611		$13,787,620		$4,491,414
Purchase of fuel, fishing nets and other onboard consumables	'		'		'
Purchase of fuel, fishing nets and other on board consumables	15,505,265	[1]	10,709,195	[1]	3,440,000	[1]
Purchase of fuel, fishing nets and other on board consumables paid on behalf	'		'		'
Purchase of fuel, fishing nets and other on board consumables paid on behalf	18,019,029		3,245,177		1,037,441
Purchase of vessel maintenance service	'		'		'
Purchase of vessel maintenance service	2,981,043	[2]	1,901,250	[2]	3,278,574	[2]
Purchase of transportation service	'		'		'
Purchase of transportation service	9,157,281	[2]	4,213,118	[2]	1,992,075	[2]
Cold storage warehouse and office rental	'		'		'
Cold storage warehouse and office rental	13,678		212,043		488,861
Crewmen compensation paid on behalf	'		'		'
Crewmen compensation paid on behalf	1,125,043		985,569		308,725
Indonesia fishing licenses paid on behalf	'		'		'
Indonesia fishing licenses paid on behalf, Total purchases and expenses	50,789,299		22,832,126		10,940,994
Haifeng Dafu Enterprise Company Limited [Member]	'		'		'
Purchase of transportation service	'		'		'
Purchase of transportation service	4,122,861	[2]	2,118,321	[2]	237,207	[2]
Hai Yi Shipping Limited [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Servicing Fees	230,903	[3]	0	[3]	0	[3]
Purchase of transportation service	'		'		'
Purchase of transportation service	1,653,682	[2]	505,154	[2]	352,252	[2]
Shenzhen Western Coast Fisherman Pier Co Ltd [Member]	'		'		'
Sale of frozen fish and other marine catches	'		'		'
Sale of frozen fish and other marine catches, Total Sales	10,372,611		0		0
Fuzhou Haifeng Dafu Ocean Fishing Co Ltd [Member]	'		'		'
Sale of frozen fish and other marine catches	'		'		'
Sale of frozen fish and other marine catches, Total Sales	0		4,574,118		4,312,036
Fujian Xinnong Ocean Fisheries Development Co Ltd [Member]	'		'		'
Sale of frozen fish and other marine catches	'		'		'
Sale of frozen fish and other marine catches, Total Sales	0		8,948,761		0
PT. Avona Mina Lestari [Member]	'		'		'
Purchase of fuel, fishing nets and other onboard consumables	'		'		'
Purchase of fuel, fishing nets and other on board consumables	14,746,582	[1]	10,709,195	[1]	3,440,000	[1]
Purchase of vessel maintenance service	'		'		'
Purchase of vessel maintenance service	2,981,043	[2]	1,901,250	[2]	1,602,900	[2]
Purchase of transportation service	'		'		'
Purchase of transportation service	35,149	[2]	573,545	[2]	1,402,616	[2]
Indonesia fleet vessel agency fee payable	'		'		'
Indonesia fleet vessel agency fee payable	1,042,738	[4]	410,000	[4]	90,000	[4]
Crewmen compensation paid on behalf	'		'		'
Crewmen compensation paid on behalf	1,125,043		550,000		153,156
Indonesia fishing licenses paid on behalf	'		'		'
Indonesia fishing licenses paid on behalf, Total purchases and expenses	1,748,239		1,155,774		305,318
PT. Dwikarya Reksa Abadi [Member]	'		'		'
Purchase of fuel, fishing nets and other onboard consumables	'		'		'
Purchase of fuel, fishing nets and other on board consumables	757,557	[1]	0	[1]	0	[1]
Purchase of vessel maintenance service	'		'		'
Purchase of vessel maintenance service	0	[2]	0	[2]	1,675,674	[2]
Fuzhou Honglong Ocean Fishery Co Ltd [Member]	'		'		'
Purchase of fuel, fishing nets and other on board consumables paid on behalf	'		'		'
Purchase of fuel, fishing nets and other on board consumables paid on behalf	1,953,494		3,245,177		1,037,441
Purchase of vessel maintenance service paid on behalf	'		'		'
Purchase of vessel maintenance service paid on behalf	1,196,983		0		0
Cold storage warehouse and office rental	'		'		'
Cold storage warehouse and office rental	0	[5]	206,498	[5]	488,861	[5]
Crewmen compensation paid on behalf	'		'		'
Crewmen compensation paid on behalf	0		435,569		155,569
Hongfa Shipping Limited [Member]	'		'		'
Purchase of fuel, fishing nets and other on board consumables paid on behalf	'		'		'
Purchase of fuel, fishing nets and other on board consumables paid on behalf	16,065,535		0		0
Purchase of transportation service	'		'		'
Purchase of transportation service	3,345,589	[2]	1,016,098	[2]	0	[2]
Ping Lin [Member]	'		'		'
Cold storage warehouse and office rental	'		'		'
Cold storage warehouse and office rental	13,678	[6]	5,545	[6]	0	[6]
Zhiyan Lin [Member]	'		'		'
Purchase of fuel, fishing nets and other onboard consumables	'		'		'
Purchase of fuel, fishing nets and other on board consumables	1,126	[1]	0	[1]	0	[1]
Cheng Chen [Member]	'		'		'
Sale of frozen fish and other marine catches	'		'		'
Sale of frozen fish and other marine catches, Total Sales	0		185,839		179,378
Longhua Zhuo [Member]	'		'		'
Sale of frozen fish and other marine catches	'		'		'
Sale of frozen fish and other marine catches, Total Sales	$0		$78,902		$0

[1]	Fuel, fishing nets and other consumables were sold to Pingtan Fishing.
[2]	Vessel maintenance and transportation services were charged to Pingtan Fishing at prices mutually agreed by the related parties and Pingtan Fishing.
[3]	On July 1, 2013, the Company entered into a service agreement with Hai Yi Shipping Limited that provided the Company a portion of use of premises located in Hong Kong as office, and clerical and administrative support and consultation services. The agreement will expire on December 31, 2014.
[4]	Pursuant to a Fishery Cooperative Agreement dated December 31, 2012 with one-year term, entered into between Pingtan Fishing and Avona, Pingtan Fishing is payable to Avona an annual agency fee, calculated at mutually agreed amount of $20,000, for the period from January 1, 2013 to December 31, 2013, Avona acts as an agent for each of Pingtan Fishingbs fishing vessels. The agreement continues to be executed without disagreement from both parties.
[5]	The Company sub-leased office area and cold storage warehouse cells from Hong Long. Pursuant to an Office Space Rental and Staff Dispatch Agreement entered into on January 1, 2010 with a three-year term, annual lease and facilities expenses are RMB1,000,000. Cold storage warehouse cell sub-lease contracts were entered into simultaneously with Hong Longbs lease contracts with the third party lessor, which are renewed every 12-to-16 months. The agreements were terminated on July 31, 2012.
[6]	Pingtan Fishing entered into a three-year term office rental lease with Ping Lin on July 31, 2012. The annual lease is $13,678.

RELATED_PARTY_TRANSACTIONS_Det1

RELATED PARTY TRANSACTIONS (Details Textual)	12 Months Ended				1 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Jul. 31, 2012
	USD ($)	CNY	USD ($)	USD ($)	Ping Lin [Member]
					USD ($)
Related Party Transaction [Line Items]	'	'	'	'	'
Operating Leases, Rent Expense	$827,282	1,000,000	$307,559	$488,861	$13,678
Lease Term	'	'	'	'	'3 years
Lease Expiration Date	31-Jul-12	31-Jul-12	'	'	'
Annual Agency Fee	$20,000	'	'	'	'

CERTAIN_RISKS_AND_CONCENTRATIO1

CERTAIN RISKS AND CONCENTRATIONS (Details Textual)	12 Months Ended
CERTAIN RISKS AND CONCENTRATIONS (Details Textual)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Sales [Member]	'	'	'
Certain Risks And Concentrations [Line Items]	'	'	'
Concentration Risk, Percentage	0.00%	13.00%	32.00%
Purchases [Member]	'	'	'
Certain Risks And Concentrations [Line Items]	'	'	'
Concentration Risk, Percentage	41.00%	37.00%	40.00%
Fujian Xiannong Ocean Fisheries Development Co Ltd [Member] \| Sales [Member]	'	'	'
Certain Risks And Concentrations [Line Items]	'	'	'
Concentration Risk, Percentage	0.00%	13.00%	0.00%
Haifeng Dafu Enterprises Company Limited [Member] \| Sales [Member]	'	'	'
Certain Risks And Concentrations [Line Items]	'	'	'
Concentration Risk, Percentage	0.00%	7.00%	18.00%
Pt Avona Mina Lestari [Member] \| Purchases [Member]	'	'	'
Certain Risks And Concentrations [Line Items]	'	'	'
Concentration Risk, Percentage	26.00%	42.00%	40.00%
Pt Dwikarya Reksa Abadi [Member] \| Purchases [Member]	'	'	'
Certain Risks And Concentrations [Line Items]	'	'	'
Concentration Risk, Percentage	1.00%	0.00%	10.00%

COMMITEMTS_AND_CONTINGENCIES_D

COMMITEMTS AND CONTINGENCIES (Details Textual) (USD $)	Dec. 31, 2013
Commitments And Contingencies [Line Items]	'
Potential Minimum Cash Obligation	$10,059
Loss Contingency, Amount to Indemnify Majority Shareholder	1,000,000
Hai Yi Shipping Limited [Member]	'
Commitments And Contingencies [Line Items]	'
Potential Minimum Cash Obligation	$461,961

OPERATING_LEASE_COMMITMENT_Det

OPERATING LEASE COMMITMENT (Details) (USD $)	Dec. 31, 2013
Schedule of Future Minimum Rental Payments for Operating Leases [Line Items]	'
2014	$720,474
2015	8,094
Operating Leases, Future Minimum Payments Due	728,568
Service Fee [Member]	'
Schedule of Future Minimum Rental Payments for Operating Leases [Line Items]	'
2014	461,961
2015	0
Operating Leases, Future Minimum Payments Due	461,961
Cold Storage Warehouse [Member]	'
Schedule of Future Minimum Rental Payments for Operating Leases [Line Items]	'
2014	244,637
2015	0
Operating Leases, Future Minimum Payments Due	244,637
Office Rental [Member]	'
Schedule of Future Minimum Rental Payments for Operating Leases [Line Items]	'
2014	13,876
2015	8,094
Operating Leases, Future Minimum Payments Due	$21,970

OPERATING_LEASE_COMMITMENT_Det1

OPERATING LEASE COMMITMENT (Details 1) (USD $)	Dec. 31, 2013
Future Minimum Rental Payments For Operating Leases Related Party and Non Related Party [Line Items]	'
Related parties commitments	$483,931
Non-related parties commitments	244,637
Operating Leases Future Minimum Payments Due Related Party and Non Related Party	728,568
Service Fee [Member]	'
Future Minimum Rental Payments For Operating Leases Related Party and Non Related Party [Line Items]	'
Related parties commitments	461,961
Non-related parties commitments	0
Operating Leases Future Minimum Payments Due Related Party and Non Related Party	461,961
Cold Storage Warehouse [Member]	'
Future Minimum Rental Payments For Operating Leases Related Party and Non Related Party [Line Items]	'
Related parties commitments	0
Non-related parties commitments	244,637
Operating Leases Future Minimum Payments Due Related Party and Non Related Party	244,637
Office Rental [Member]	'
Future Minimum Rental Payments For Operating Leases Related Party and Non Related Party [Line Items]	'
Related parties commitments	21,970
Non-related parties commitments	0
Operating Leases Future Minimum Payments Due Related Party and Non Related Party	$21,970

OPERATING_LEASE_COMMITMENT_Det2

OPERATING LEASE COMMITMENT (Details Textual)	12 Months Ended					1 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Jul. 31, 2012
	USD ($)	CNY	USD ($)	USD ($)	Hai Yi Shipping Limited [Member]	Ping Lin [Member]
					USD ($)	USD ($)
Operating Leased Assets [Line Items]	'	'	'	'	'	'
Annual Service Fee	'	'	'	'	$231,000	'
Operating Leases, Rent Expense And Service Fees	827,282	1,000,000	307,559	488,861	'	13,678
Lease And Rental Expense Paid To Related Parties	$244,581	'	$212,043	$488,861	'	'
Lease Term	'	'	'	'	'	'3 years

SUBSEQUENT_EVENT_Details_Textu

SUBSEQUENT EVENT (Details Textual) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
SUBSEQUENT EVENT (Details Textual) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Industrial Commercial Bank Of China, Fuzhou Dongjiekou Branch Transaction One [Member]	Industrial Commercial Bank Of China, Fuzhou Dongjiekou Branch Transaction Two [Member]	Industrial Commercial Bank Of China, Fuzhou Dongjiekou Branch Transaction Three [Member]	Export-Import Bank of China, Fujian Branch Transcation [Member]
Subsequent Event [Line Items]	'	'	'	'	'	'
Subsequent Event, Date	'	'	6-Jan-14	20-Jan-14	21-Jan-14	15-Jan-14
Short-Term Debt	$9,085,353	$25,169,260	$1,849,120	$1,717,040	$3,501,660	$3,303,765
Debt Instrument, Maturity Date	'	'	25-Mar-14	15-Apr-14	20-Apr-14	27-Nov-23

CONDENSED_PARENT_COMPANY_FINAN2

CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Assets	'	'	'	'
Cash	$8,156,599	$6,860,785	'	'
Prepaid expenses	4,309,574	386,966	'	'
Total current assets	30,706,704	433,859,485	'	'
Other assets	'	'	'	'
Property, plant and equipment	101,970,707	37,748,241	'	'
Total assets	170,131,512	481,026,817	'	'
Current liabilities	'	'	'	'
Accrued liabilities and other payables	4,643,272	1,033,766	'	'
Shareholders' equity	'	'	'	'
Total shareholders' equity	64,841,435	397,315,984	284,428,406	172,075,985
Total liabilities and equity	170,131,512	481,026,817	'	'
Parent [Member]	'	'	'	'
Assets	'	'	'	'
Cash	246,684	0	'	'
Prepaid expenses	2,820	0	'	'
Investments in subsidiaries	38,446,318	397,315,984	'	'
Total current assets	38,695,822	397,315,984	'	'
Other assets	'	'	'	'
Property, plant and equipment	26,347,285	0	'	'
Total assets	65,043,107	397,315,984	'	'
Current liabilities	'	'	'	'
Accrued liabilities and other payables	201,672	0	'	'
Shareholders' equity	'	'	'	'
Total shareholders' equity	64,841,435	397,315,984	'	'
Total liabilities and equity	$65,043,107	$397,315,984	'	'

CONDENSED_PARENT_COMPANY_FINAN3

CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Details 1) (USD $)	3 Months Ended				12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013		Dec. 31, 2012	Dec. 31, 2011
Condensed Income Statements, Captions [Line Items]	'	'	'	'	'		'	'
Cost of revenue	($35,603,682)	($12,976,891)	($11,749,639)	($14,653,078)	($74,983,290)		($41,570,472)	($14,600,579)
General and administrative expenses	-846,068	-1,178,033	-866,194	-301,342	-3,191,637		-463,501	-251,343
Other income	123	7	11	2,003	2,144		0	0
Net income	42,268,759	17,406,554	25,697,850	13,673,293	99,046,456	[1]	108,774,696	100,697,586
Parent [Member]	'	'	'	'	'		'	'
Condensed Income Statements, Captions [Line Items]	'	'	'	'	'		'	'
Cost of revenue	'	'	'	'	-88,118		0	'
General and administrative expenses	'	'	'	'	-2,225,543		0	'
Other income	'	'	'	'	117		0	'
Equity in income of subsidiaries	'	'	'	'	101,360,000		108,774,696	'
Net income	'	'	'	'	$99,046,456		$108,774,696	'

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

CONDENSED_PARENT_COMPANY_FINAN4

CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Condensed Cash Flow Statements, Captions [Line Items]	'	'	'
Net cash used in operating activities	$52,266,802	$45,249,230	$7,709,972
Net cash provided by investing activities	-336,512,660	-77,351,498	-30,084,978
Net cash used in financing activities	31,147,495	37,151,786	23,642,852
Cash at the beginning of year	6,860,785	'	'
Cash at the end of year	8,156,599	6,860,785	'
Parent [Member]	'	'	'
Condensed Cash Flow Statements, Captions [Line Items]	'	'	'
Net cash used in operating activities	-2,002,592	0	'
Net cash provided by investing activities	127,430,454	0	'
Net cash used in financing activities	-125,181,178	0	'
Net increase in cash	246,684	0	'
Cash at the beginning of year	0	0	'
Cash at the end of year	$246,684	$0	'

QUARTERLY_CONSOLIDATED_FINANCI2

QUARTERLY CONSOLIDATED FINANCIAL DATA (UNAUDITED) (Details) (USD $)	3 Months Ended				12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Schedule of Quarterly Financial Information [Line Items]	'	'	'	'	'		'		'
Revenue	$61,026,829	$20,609,107	$21,362,357	$19,669,476	'		'		'
Cost of revenue	-35,603,682	-12,976,891	-11,749,639	-14,653,078	-74,983,290		-41,570,472		-14,600,579
Gross Profit	25,423,147	7,632,216	9,612,718	5,016,398	47,684,479		25,890,996		11,000,057
Operating expenses:	'	'	'	'	'		'		'
Selling and marketing expenses	-887,544	-362,000	-174,046	-194,688	-1,618,278		-647,850		-383,472
General and administrative expenses	-846,068	-1,178,033	-866,194	-301,342	-3,191,637		-463,501		-251,343
Total operating expenses	-1,733,612	-1,540,033	-1,040,240	-496,030	'		'		'
Operating income	23,689,535	6,092,183	8,572,478	4,520,368	42,874,564		24,779,645		10,365,242
Other income (expenses)	'	'	'	'	'		'		'
Investment income	230	218	69,071	0	69,519		15,138		0
Interest income	3,389	2,305	1,460	1,096	8,250		3,276		2,349
Interest expenses	-1,177,896	-1,209,961	-480,158	-433,681	-3,301,696		-2,876,253		-844,650
Subsidy income	7,133,781	168,900	205	35,387	7,338,273		2,363,575		830,446
Sundry income	123	7	11	2,003	2,144		0		0
Gain/(Loss) on foreign exchange, net	170,712	194,433	-428,389	207,984	144,740		-5,113		86,950
Income from continuing operations before income taxes	29,819,874	5,248,085	7,734,678	4,333,157	'		'		'
Income tax expense	0	0	0	0	0		0		0
Net income from continuing operations	29,819,874	5,248,085	7,734,678	4,333,157	47,135,794		24,280,268		10,440,337
Net income from discontinued operations, net of taxes	12,448,885	12,158,469	17,963,172	9,340,136	51,910,662	[1]	84,494,428	[1]	90,257,249	[1]
Consolidated net income	$42,268,759	$17,406,554	$25,697,850	$13,673,293	$99,046,456	[1]	$108,774,696		$100,697,586

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

RESTATEMENT_Details

RESTATEMENT (Details) (USD $)	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011	Dec. 31, 2010
Cash	$8,156,599		$6,860,785		'	'
Prepaid expenses	4,309,574		386,966		'	'
Total Current Assets	30,706,704		433,859,485		'	'
Other Assets	'		'		'	'
Other receivables	11,665		29,885		'	'
Prepaid fixed assets deposits	33,985,148		0		'	'
Prepaid operating license rights	0		'		'	'
Property, plant and equipment	101,970,707		37,748,241		'	'
Total Other Assets	139,424,808		47,167,332		'	'
Total Assets	170,131,512		481,026,817		'	'
Accrued liabilities and other payables	4,643,272		1,033,766		'	'
Deferred income	520,045		0		'	'
Total Current Liabilities	50,790,350		67,021,512		'	'
Total Liabilities	105,290,077		83,710,833		'	'
Stockholders' Equity:	'		'		'	'
Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 77,215,000 shares issued and outstanding at December 31, 2012)	79,055		77,215		'	'
Additional paid-in capital	117,525,377		135,427,182		'	'
Statutory reserves	6,412,892		19,421,017		'	'
Retained earnings	-63,654,445		220,196,974		'	'
Accumulated other comprehensive income	4,478,556		22,193,596		'	'
Total Stockholders' Equity	64,841,435		397,315,984		284,428,406	172,075,985
Total Liabilities and Stockholders' Equity	170,131,512		481,026,817		'	'
Scenario, Previously Reported [Member]	'		'		'	'
Cash	'		10,426,140		'	'
Prepaid expenses	2,380,874		410,966		'	'
Total Current Assets	28,778,004		437,448,840		'	'
Other Assets	'		'		'	'
Other receivables	1,213,440		'		'	'
Prepaid fixed assets deposits	1,928,700		'		'	'
Prepaid operating license rights	215,381,356		'		'	'
Property, plant and equipment	107,178,269		37,141,906		'	'
Total Other Assets	329,170,718		'		'	'
Total Assets	357,948,722		484,009,837		'	'
Accrued liabilities and other payables	3,851,047		1,033,784		'	'
Deferred income	1,733,485		'		'	'
Total Current Liabilities	51,211,565		67,021,530		'	'
Total Liabilities	105,711,292		83,710,851		'	'
Stockholders' Equity:	'		'		'	'
Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 77,215,000 shares issued and outstanding at December 31, 2012)	'		79,055		'	'
Additional paid-in capital	0		141,381,098		'	'
Statutory reserves	22,410,773		'		'	'
Retained earnings	199,341,512		217,224,220		'	'
Accumulated other comprehensive income	30,406,090		'		'	'
Total Stockholders' Equity	252,237,430		400,298,986		'	'
Total Liabilities and Stockholders' Equity	357,948,722		484,009,837		'	'
Restatement Adjustment [Member]	'		'		'	'
Cash	'		-3,565,355	[1]	'	'
Prepaid expenses	1,928,700	[2]	-24,000	[1]	'	'
Total Current Assets	1,928,700		-3,589,355	[1]	'	'
Other Assets	'		'		'	'
Other receivables	-1,213,440	[2]	'		'	'
Prepaid fixed assets deposits	32,056,448	[2]	'		'	'
Prepaid operating license rights	-215,381,356	[3]	'		'	'
Property, plant and equipment	-5,207,562	[2],[3]	606,335		'	'
Total Other Assets	-189,745,910		'		'	'
Total Assets	-187,817,210		-2,983,020		'	'
Accrued liabilities and other payables	792,225	[2]	-18	[1]	'	'
Deferred income	-1,213,440	[2]	'		'	'
Total Current Liabilities	-421,215		-18		'	'
Total Liabilities	-421,215		-18		'	'
Stockholders' Equity:	'		'		'	'
Ordinary shares ($0.001 par value; 225,000,000 shares authorized; 77,215,000 shares issued and outstanding at December 31, 2012)	'		-1,840	[1]	'	'
Additional paid-in capital	117,525,377	[3]	-5,953,916	[1]	'	'
Statutory reserves	-15,997,881	[3]	'		'	'
Retained earnings	-262,995,957	[2],[3]	2,972,754	[1]	'	'
Accumulated other comprehensive income	-25,927,534	[3]	'		'	'
Total Stockholders' Equity	-187,395,995		-2,983,002		'	'
Total Liabilities and Stockholders' Equity	($187,817,210)		($2,983,020)		'	'

[1]	To remove CEGIbs balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.
[2]	To record other miscellaneous adjustments deemed necessary.
[3]	To adjust the prepaid operating license rights from appraisal value to the historical cost of the 20 vessels leased from Hong Long and to reflect the historical cost of the 20 leased vessels as a capital lease and reclassify such amounts to property, plant and equipment, to adjust the related depreciation and amortization expense, and to reflect any excess amounts paid for the leased operating rights as a capital distribution pursuant to ASC 805-50;

RESTATEMENT_Details_1

RESTATEMENT (Details 1) (USD $)	3 Months Ended				12 Months Ended
RESTATEMENT (Details 1) (USD $)	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Cost of revenue	$35,603,682	$12,976,891	$11,749,639	$14,653,078	$74,983,290		$41,570,472		$14,600,579
Gross profit	25,423,147	7,632,216	9,612,718	5,016,398	47,684,479		25,890,996		11,000,057
General and administrative expenses	846,068	1,178,033	866,194	301,342	3,191,637		463,501		251,343
Operating income	23,689,535	6,092,183	8,572,478	4,520,368	42,874,564		24,779,645		10,365,242
Interest expense	1,177,896	1,209,961	480,158	433,681	3,301,696		2,876,253		844,650
Total other income/(expense)	'	'	'	'	4,261,230		-499,377		75,095
Net income from continuing operations	29,819,874	5,248,085	7,734,678	4,333,157	47,135,794		24,280,268		10,440,337
Consolidated net income	42,268,759	17,406,554	25,697,850	13,673,293	99,046,456	[1]	108,774,696		100,697,586
Comprehensive income	'	'	'	'	107,241,501		112,887,578		112,352,421
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$1.26		$1.41		$1.31
Weighted average number of ordinary shares outstanding- Basic and diluted (in shares)	'	'	'	'	78,772,743		77,215,000		77,215,000
Continuing Operations [Member]	'	'	'	'	'		'		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$0.60		$0.32		$0.14
Discontinued Operations [Member]	'	'	'	'	'		'		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$0.66		$1.09		$1.17
Scenario, Previously Reported [Member]	'	'	'	'	'		'		'
Cost of revenue	'	'	'	'	75,760,033		41,876,140		'
Gross profit	'	'	'	'	46,907,736		25,585,328		'
General and administrative expenses	'	'	'	'	'		2,839,848		'
Operating income	'	'	'	'	42,097,821		22,097,630		'
Interest expense	'	'	'	'	-4,171,989		-3,176,920		'
Total other income/(expense)	'	'	'	'	3,390,937		'		'
Net income from continuing operations	'	'	'	'	45,488,758		21,297,586		'
Consolidated net income	'	'	'	'	97,399,420		105,792,014		'
Comprehensive income	'	'	'	'	105,577,539		109,904,896		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$1.23		$1.34		'
Weighted average number of ordinary shares outstanding- Basic and diluted (in shares)	'	'	'	'	79,055,053		79,055,053		'
Scenario, Previously Reported [Member] \| Continuing Operations [Member]	'	'	'	'	'		'		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$0.58		$0.27		'
Scenario, Previously Reported [Member] \| Discontinued Operations [Member]	'	'	'	'	'		'		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$0.65		$1.07		'
Restatement Adjustment [Member]	'	'	'	'	'		'		'
Cost of revenue	'	'	'	'	-776,743	[2],[3]	-305,668		'
Gross profit	'	'	'	'	776,743		305,668		'
General and administrative expenses	'	'	'	'	'		-2,376,347	[4]	'
Operating income	'	'	'	'	776,743		2,682,015		'
Interest expense	'	'	'	'	870,293	[2]	300,667		'
Total other income/(expense)	'	'	'	'	870,293		'		'
Net income from continuing operations	'	'	'	'	1,647,036		2,982,682		'
Consolidated net income	'	'	'	'	1,647,036		2,982,682	[4]	'
Comprehensive income	'	'	'	'	$1,663,962		$2,982,682		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$0.04		$0.07		'
Weighted average number of ordinary shares outstanding- Basic and diluted (in shares)	'	'	'	'	-282,310		-1,840,053		'
Restatement Adjustment [Member] \| Continuing Operations [Member]	'	'	'	'	'		'		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$0.01		$0.05		'
Restatement Adjustment [Member] \| Discontinued Operations [Member]	'	'	'	'	'		'		'
Basic and diluted earnings per share	'	'	'	'	'		'		'
Earnings Per Share, Basic and Diluted (in dollar per share)	'	'	'	'	$0.03		$0.02		'

[1]	Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.
[2]	To record other miscellaneous adjustments deemed necessary.
[3]	To adjust the prepaid operating license rights from appraisal value to the historical cost of the 20 vessels leased from Hong Long and to reflect the historical cost of the 20 leased vessels as a capital lease and reclassify such amounts to property, plant and equipment, to adjust the related depreciation and amortization expense, and to reflect any excess amounts paid for the leased operating rights as a capital distribution pursuant to ASC 805-50;
[4]	To remove CEGIbs balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.

RESTATEMENT_Details_2

RESTATEMENT (Details 2) (USD $)

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Cash flows from operating activities:

Net income

$42,268,759

$17,406,554

$25,697,850

$13,673,293

$99,046,456

[1]

$108,774,696

$100,697,586

Income from continuing operations

29,819,874

5,248,085

7,734,678

4,333,157

47,135,794

24,280,268

10,440,337

Depreciation of property, plant and equipment

2,394,692

2,677,418

1,917,747

Amortization of operating license rights

Notes receivable (banker's acceptances)

3,745,196

Accrued liabilities and other payables

3,583,989

777,587

204,254

Net cash provided by operating activities from continuing operations

52,266,802

45,249,230

7,709,972

Cash flows from investing activities:

Purchase of property, plant and equipment

-257,701,854

-33,992,757

-7,086,080

Net cash used in investing activities from continuing operations

-336,512,660

-77,351,498

-30,084,978

Cash flows from financing activities:

Cash acquired in recapitalization

3,565,355

Repayment of short-term loans

-64,358,336

-48,079,121

-10,055,693

Net cash provided by financing activities from continuing operations

31,147,495

37,151,786

23,642,852

Net increase in cash

-163,766,761

57,719,020

25,185,336

Cash at the beginning of year

171,923,360

[2],[3]

171,923,360

[2],[3]

114,204,340

[2],[3]

89,019,004

[2]

Cash at the end of year

8,156,599

[3]

8,156,599

[3]

171,923,360

[2],[3]

114,204,340

[2],[3]

Scenario, Previously Reported [Member]

Cash flows from operating activities:

Net income

97,399,420

105,792,014

Income from continuing operations

45,488,758

21,297,586

Depreciation of property, plant and equipment

3,297,751

2,983,086

Amortization of operating license rights

720,339

Notes receivable (banker's acceptances)

Accrued liabilities and other payables

2,737,334

763,533

Net cash provided by operating activities from continuing operations

47,651,313

42,558,162

Cash flows from investing activities:

Purchase of property, plant and equipment

-256,831,561

-33,692,090

Net cash used in investing activities from continuing operations

-335,642,367

-77,050,831

Cash flows from financing activities:

Cash acquired in recapitalization

5,955,756

Repayment of short-term loans

-60,613,140

Net cash provided by financing activities from continuing operations

31,327,336

43,107,542

Net increase in cash

-167,332,116

61,284,375

Cash at the beginning of year

175,488,715

114,204,340

Cash at the end of year

175,488,715

Restatement Adjustment [Member]

Cash flows from operating activities:

Net income

1,647,036

2,982,682

[4]

Income from continuing operations

1,647,036

2,982,682

Depreciation of property, plant and equipment

-903,059

-305,668

[4]

Amortization of operating license rights

-720,339

Notes receivable (banker's acceptances)

3,745,196

Accrued liabilities and other payables

846,655

14,054

[4]

Net cash provided by operating activities from continuing operations

4,615,489

2,691,068

Cash flows from investing activities:

Purchase of property, plant and equipment

-870,293

-300,667

[4]

Net cash used in investing activities from continuing operations

-870,293

-300,667

Cash flows from financing activities:

Cash acquired in recapitalization

3,565,355

-5,955,756

[4]

Repayment of short-term loans

-3,745,196

Net cash provided by financing activities from continuing operations

-179,841

-5,955,756

Net increase in cash

3,565,355

-3,565,355

Cash at the beginning of year

-3,565,355

Cash at the end of year

($3,565,355)

[1]

Total net income and net income from discontinued operations, net of tax included accretion of discount on Class A Preferred Shares in amount of $6,135,012.

[2]

Includes cash and cash equivalents of discontinued operations of $165,062,575, $112,409,544 and $88,532,472 at the beginning of the year in 2013, 2012 and 2011, respectively.

[3]

Includes cash and cash equivalents of discontinued operations of $nil, $165,062,575 and $112,409,544 as of December 31, 2013, 2012 and 2011, respectively.

[4]

To remove CEGIbs balances in order to correctly reflect the historical consolidated financial statements of CDGC and Merchant Supreme jointly as the accounting acquirer prior to February 25, 2013.