JX Luxventure Limited (JXG) 20-F 30 Apr 18 2017 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document and Entity Information [Abstract]
Entity Registrant Name	KBS Fashion Group Ltd
Entity Central Index Key	1,546,383
Amendment Flag	false
Trading Symbol	KBSF
Current Fiscal Year End Date	--12-31
Document Type	20-F
Document Period End Date	Dec. 31, 2017
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	1,986,299

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income/ (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Profit or loss [abstract]
Revenue	$ 23,762,536	$ 41,200,205	$ 61,343,681
Cost of sales	(35,274,352)	(39,041,932)	(46,511,274)
Gross (loss)/profit	(11,511,816)	2,158,273	14,832,407
Other income	461,564	555,051	302,144
Other gains and (losses)	(122,243)	(11,123,767)	(3,877,832)
Distribution and selling expenses	(3,265,380)	(3,606,010)	(6,621,256)
Administrative expenses	(4,879,397)	(3,543,993)	(2,798,082)
(Loss)/profit from operations	(19,317,272)	(15,560,446)	1,837,381
Finance costs	(96,385)	(71,783)
Change in fair value of warrant liabilities		3,409	11,978
(Loss)/profit before tax	(19,413,657)	(15,628,820)	1,849,359
Income tax income/(expense)	4,598,061	3,726,133	(605,689)
(Loss)/profit for the year	(14,815,596)	(11,902,687)	1,243,670
Other comprehensive loss
-currency translation differences	4,810,715	(6,125,433)	(6,044,772)
Total comprehensive loss for the year	$ (10,004,881)	$ (18,028,120)	$ (4,801,102)
(Loss)/earnings per share of common stock attributable to the Company
-Basic	$ (7.96)	$ (6.80)	$ 0.73
-Diluted	$ (7.96)	$ (6.80)	$ 0.73
Weighted average shares outstanding:
-Basic	1,860,831	1,750,142	1,694,489
-Diluted	1,860,831	1,750,142	1,694,489

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Non-current assets
Property, plant and equipment-net	$ 27,824,523	$ 26,758,749
Prepayments and premiums under operating leases	2,568,199	2,491,647
Prepayment for construction of new plant
Prepayment for acquisition of land use right
Land use rights	648,652	624,894
Deferred tax assets	9,924,944	4,879,652
Non-current assets	40,966,318	34,754,942
Current assets
Inventories	1,806,212	2,450,866
Trade receivables	10,501,543	23,483,465
Other receivables and prepayments	1,901,268	5,364,120
Subsidies prepaid to distributors		389,996
Prepayments and premiums under operating leases	83,907	79,035
Cash and cash equivalents	26,050,456	24,576,341
Current assets	40,343,386	56,343,823
Total assets	81,309,704	91,098,765
Current liabilities
Short term bank loans	1,606,930	1,513,623
Trade and other payables	5,451,830	4,774,628
Related parties payables	154,137	1,150,129
Income tax payable		258,259
Deposits received	69,612
Current liabilities	7,282,509	7,696,639
Non-current liability
Warrant liabilities
Non-current liabilities
Total liabilities	7,282,509	7,696,639
Equity
Share capital	198	177
Share premium	6,686,169	6,056,240
Revaluation reserve	184,272	184,272
Statutory surplus reserve	6,084,836	6,084,836
Retained profits	64,146,811	78,962,407
Foreign currency translation reserve	(3,075,091)	(7,885,806)
Total equity	74,027,195	83,402,126
Total liabilities and equity	$ 81,309,704	$ 91,098,765

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Share captial	Share premium	Revaluation reserve	Statutory surplus reserve	Retained profits	Foreign currency translation reserve
Beginning balance at Dec. 31, 2014	$ 105,618,076	$ 170	$ 5,627,247		$ 5,815,493	$ 89,890,767	$ 4,284,399
Profit (Loss) for the year	1,243,670					1,243,670
Other comprehensive income (loss) for the year	(6,044,772)						(6,044,772)
Appropriation to statutory surplus reserve					253,964	(253,964)
Ending balance at Dec. 31, 2015	100,816,974	170	5,627,247		6,069,457	90,880,473	(1,760,373)
Reclassification of revaluation surplus	184,272			184,272
Shares issued for stock based compensation	429,000	7	428,993
Profit (Loss) for the year	(11,902,687)					(11,902,687)
Other comprehensive income (loss) for the year	(6,125,433)						(6,125,433)
Appropriation to statutory surplus reserve					15,379	(15,379)
Ending balance at Dec. 31, 2016	83,402,126	177	6,056,240	184,272	6,084,836	78,962,407	(7,885,806)
Shares issued for stock based compensation	629,950	21	629,929
Profit (Loss) for the year	(14,815,596)					(14,815,596)
Other comprehensive income (loss) for the year	4,810,715						4,810,715
Ending balance at Dec. 31, 2017	$ 74,027,195	$ 198	$ 6,686,170	$ 184,272	$ 6,084,836	$ 64,146,811	$ (3,075,091)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
OPERATING ACTIVITIES
(Loss)/profit for the year	$ (14,815,596)	$ (11,902,687)	$ 1,243,670
Adjustments for:
Share-based payment	629,950	429,000
Finance cost	96,385	71,783
Change in fair value of warrant liabilities		(3,409)	(11,978)
Interest income	(81,517)	(85,482)	(92,747)
Depreciation of property, plant and equipment	1,510,213	1,942,735	2,015,437
Amortization of prepaid lease payments and trademark	14,307	19,009	17,061
Amortization of subsidies prepaid to distributors	401,259	910,537	1,093,036
Amortization of prepayments and premiums under operating leases	105,340	118,783	728,996
Provision/ (reversal) of inventory obsolescence	101,256	(1,667)	342
Bad debt provision of trade receivables		331,196	1,028,439
Gain on disposal of property, plant and equipment	2,418	1,441	11,412
Provision of impairment loss in prepayments		11,649,038	2,565,334
Operating cash flows before movements in working capital	(12,035,985)	3,480,277	8,599,002
Decrease/ (increase) in trade and other receivables	13,983,781	7,265,940	(345,348)
Decrease/ (increase) in inventories	669,923	889,384	(2,893,284)
Increase in trade and other payables	522,839	(1,080,978)	101,240
(Decrease)/ increase in income tax payable	(263,333)	155,632	1,236,921
Increase in deferred tax assets	(4,598,061)	(3,779,923)	(908,889)
Prepayments and premiums paid under operating leases	3,645,471	(1,761,155)	(449,935)
Subsidies prepaid to distributors		(910,537)	(1,093,036)
CASH GENERATED FROM OPERATING ACTIVITIES	1,924,635	4,258,640	4,246,671
Income tax paid	(2,385)	(1,064,351)	(2,012,038)
NET CASH FROM OPERATING ACTIVITIES	1,922,250	3,194,289	2,234,633
INVESTING ACTIVITIES
Interest received	81,517	85,482	92,747
Purchase of property, plant and equipment	(946,882)	(40,037)	(1,020,623)
NET CASH (USED IN)/FROM INVESTING ACTIVITIES	(865,365)	45,445	(927,876)
FINANCING ACTIVITIES
Interest paid	(96,385)	(71,783)
New bank loans raised	1,557,336	1,578,289
Repayment of borrowings	(1,557,336)
Advance from related party	387,030	173,003	330,099
Repayment to related party	(1,386,555)
NET CASH (USED IN)/FROM FINANCING ACTIVITIES	(1,095,910)	1,679,509	330,099
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(39,025)	4,919,243	1,636,856
Effects of currency translation	1,513,140	(1,556,982)	(1,027,358)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	24,576,341	21,214,080	20,604,582
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 26,050,456	$ 24,576,341	$ 21,214,080

General Information

General Information	12 Months Ended
	Dec. 31, 2017
General Information [Abstract]
GENERAL INFORMATION	1. GENERAL INFORMATION On January 26, 2012, Aquasition Investments Corp (“Company”) was organized as a blank check company pursuant to the laws of the Republic of the Marshall Islands for the purpose of acquiring through a merger, capital stock exchange, asset acquisition, stock purchase, or similar acquisition transaction, one or more operating businesses or assets. On March 24, 2014, the Company entered into a Share Exchange Agreement and Plan of Liquidation (the “Agreement”) among KBS International Holdings, Inc. (“KBS”), a Nevada corporation, Hongri International Holdings Ltd (“Hongri”), a company organized under the laws of the British Virgin Islands, and Cheung So Wa and Chan Sun Keung, the principal shareholders of KBS. On August 1, 2014, the share exchange was completed. In order to align with the brand and operations of the entities acquired pursuant to the Agreement, the Company changed its name from Aquasition Investments Corp to KBS Fashion Group Limited. The Company’s units which are comprised of one share of common stock and one warrant are traded on the NASDAQ Capital Markets. The Company’s trading symbol is KBSF. The acquisition was accounted for as a reverse merger and recapitalization where the Company, the legal acquirer is the accounting acquiree, and KBS, the legal acquiree, was the accounting acquirer. Description of Subsidiaries: Hongri International Holdings Limited (the “Hongri”), formerly known as Wah Ying International Investment Inc., was incorporated in the British Virgin Islands (the “BVI”) on July 8, 2008 as a limited liability company with authorized share capital of $50,000, divided into 50,000 common shares with $1 par value. Up through December 31, 2010, 10,000 common shares had been issued at par. On January 27, 2011, the Company issued an additional 10,000 common shares for cash consideration at $77 per share. The principal activity of the Company is investment holding. Hongri a directly wholly owned subsidiary of the Company. France Cock (China) Limited (“France Cock”) was incorporated in Hong Kong on September 21, 2005 as a limited liability company with authorized capital of HK$10,000, divided into 10,000 common shares with par value of HK$1. The capital has been fully paid up. The principal activity of France Cock is the holding of intellectual property rights such as trademarks. France Cock owns the Company’s trademarks, including “KBS” and “Kabiniao”. France Cock is a directly wholly owned subsidiary of Hongri. Roller Rome Limited (“Roller Rome”) was incorporated in the BVI on March 28, 2006 as a limited liability company with authorized share capital of $50,000, divided into 50,000 common shares with par value of $1. The principal activity of Roller Rome is the provision of design and development services for sports apparel. Roller Rome is a directly wholly owned subsidiary of Hongri. Vast Billion Investment Limited (“Vast Billion”) was incorporated in Hong Kong on November 25, 2010 as a limited liability company with authorized share capital of HK$10,000 divided into 10,000 ordinary shares with HK$1par value. One ordinary share has been issued at par. Vast Billion is an investment holding company, and is a directly wholly owned subsidiary of Hongri. Hongri (Fujian) Sports Goods Co. Ltd. (“Hongri Fujian”) was established in the People’s Republic of China (the “PRC”) on November 17, 2005 with a registered and paid up capital of RMB 5,000,000. On March 24, 2011, Hongri Fujian increased registered capital from RMB 70,000,000 to RMB75,000,000. As of September 30, 2011, the paid up capital was RMB 39,551,860. Hongri Fujian is engaged in the design, manufacture, marketing, and sale of apparel in the PRC. Hongri Fujian is a directly wholly owned subsidiary of Vast Billion. Anhui Kai Xin Apparel Company Limited (“Anhui Kai Xin”) was established in the PRC on March 16, 2011 with a registered and paid up capital of RMB 1,000,000. Anhui Kai Xin is a wholly owned subsidiary of Hongri Fujian. Anhui Kai Xin provides contracting manufacturing services for companies in the sports apparel business.

Group Organization and Basis of

Group Organization and Basis of Presentation of Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2017
Group Organization and Basis of Presentation of Consolidated Financial Statements [Abstract]
GROUP ORGANIZATION AND BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS	2. GROUP ORGANIZATION AND BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS The Group structure as at the reporting date is as follows:

Application of New and Revised

Application of New and Revised International Financial Reporting Standards ("IFRS")	12 Months Ended
	Dec. 31, 2017
Application of New and Revised International Financial Reporting Standards ("IFRS") [Abstract]
APPLICATION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS ("IFRS")	APPLICATION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS (“IFRS”) Except as described below, for the year ended December 31, 2017 the Company has consistently adopted all the new and revised standards, amendments and interpretations (collectively IFRSs) issued by the International Accounting Standards Board (“IASB”) and the IFRS Interpretations Committee (formerly known as “International Financial Reporting Interpretations Committee” (“IFRIC”)) of the IASB that are effective for financial year beginning on January 1, 2017 in the preparation of the consolidated financial statements throughout the year. For the year ended December 31, 2017, the following new and revised standards, amendments or interpretations that have become effective during the reporting period. Amendments to IAS 7 Statement of cash flows Amendments to IAS 12 Income taxes Amendments to IFRS 12 included in Annual Improvements to IFRS Standards 2014-2016 cycle The adoption of above amendments does not have any significant financial effect on these consolidated financial statements. Other standards, amendments and interpretations which are effective for the financial year beginning on January 1, 2017 are not material to the Group. At the date these consolidated financial statements are authorized for issuance, the IASB has issued the following new and revised International Accounting Standards (“IASs”), IFRSs, amendments and IFRICs which are not yet effective in respect of the years. The Company has not early applied the following new and revised standards, amendments or interpretations that have been issued but are not yet effective: Amendments to IFRS 10 and IAS 28 Sale or contribution of assets between an investor and its associate or joint venture (1) IFRS 9 Financial instruments (2) IFRS 15 Revenue from contracts with customers (2) Amendments to IFRS 2 Classification and Measurement of Share-based Payment Transactions (2) Amendments to IAS 40 Transfer of Investment Property (2) Annual Improvement to IFRS Standards 2014-2016 Cycle (2) IFRIC 22 Foreign Currency Transaction and Advance Consideration (2) IFRS 16 Leases (3) *The IASB has also issued Amendments to IFRS 4 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts, which is effective for the accounting period beginning on January 1, 2018; however, this is not applicable to the Company since the Company does not issue any insurance contracts. (1) (2) (3) The Company will apply the above new standards and amendments to standards when they become effective. The Company is in the process of making an assessment of the impact of the above new standards and amendments to standards. In relation to IFRS 9, the Company does not expect the new guidance to have a significant impact on the classification and measurement of its financial assets. In relation to IFRS 15, the standard will replace IAS 18 which covers contracts for goods and services and IAS 11 which covers construction contracts. The new standard is based on the principle that revenue is recognised when control of a good or service transfers to a customer. IFRS 15 specifies how and when the Group will recognize revenue as well as requiring the Group to provide users of financial statements with more informative and relevant disclosures. The standard permits either a full retrospective or a modified retrospective approach for the adoption. Management is currently analyzing the impact of the new standard on the Group’s financial statements and has initially identified areas which are likely to be affected, including identification of separate performance obligations, the determination of stand-alone selling price and its relative allocation. The Company will continue to assess the impact of the new rules on the Group’s financial statements. IFRS 15 is mandatory for the accounting periods commencing on or after 1 January 2018. At this stage, the Group does not intend to adopt the standard before its effective date. In relation to IFRS 16, the standard will result in almost all leases being recognised on the balance sheet, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exceptions are short-term and low-value leases. The accounting for lessors will not significantly change. The standard will affect primarily the accounting for Company’s operating leases. As at the reporting date, the Company has non-cancellable operating lease commitments of 2,669,859, see Note 35. However, the Company has not yet determined to what extent these commitments will result in the recognition of an asset and a liability for future payments and how this will affect the Group’s profit and classification of cash flows. Some of the commitments may be covered by the exception for short-term and low value leases and some commitments may relate to arrangements that will not qualify as leases under IFRS 16. The standard is mandatory for accounting periods commencing on or after 1 January 2019. At this stage, the Company does not intend to adopt the standard before its effective date. There are no other standards and interpretations in issue but not yet adopted that the directors anticipate will have a material effect on the consolidated financial statements of the Company.

Signifcant Accounting Policies

Signifcant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Signifcant Accounting Policies [Abstract]
SIGNIFCANT ACCOUNTING POLICIES	4. SIGNIFCANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the financial statements are set out below. The policies have been consistently applied to all the years presented, unless otherwise stated. Basis of preparation The consolidated financial statements have been prepared on the historical cost basis and in accordance with IFRS as issued by the IASB. The principal accounting policies are set out below. Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company (its subsidiaries). Control is achieved where the Company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation. Foreign currencies Functional and presentation currency Items included in the financial statements are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The Group conducts its business predominately in the PRC and hence its functional currency is the Renminbi (RMB). Translation from RMB to USD found place at the following rates: Period end rates Average rates December 31, 2015 USD 1.00= RMB 6.4936 USD 1.00=RMB 6.2401 December 31, 2016 USD 1.00= RMB 6.9370 USD 1.00=RMB 6.6528 December 31, 2017 USD 1.00= RMB 6.5924 USD 1.00=RMB 6.7423 Translation from HKD to USD found place at the following rates: Period end rates Average rates December 31, 2015 USD 1.00= HKD 7.7508 USD 1.00=HKD 7.7517 December 31, 2016 USD 1.00= HKD 7.7552 USD 1.00=HKD 7.7614 December 31, 2017 USD 1.00= HKD 7.8170 USD 1.00=HKD 7.7928 The results and financial positions in functional currency are translated into the presentation currency, USD, of the Company as follows: (1) Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; (2) Income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); (3) Share equity, share premium and dividends are translated at historical exchange rates; and (4) All resulting exchange differences are recognized in foreign currency translation reserve, a separate component of equity. All financial information presented in USD has been rounded to the nearest dollar, except when otherwise indicated. Segment reporting Operating segments, and the amounts of each segment item reported in the financial statements, are identified from the financial information provided regularly to the Group’s most senior executive management for the purposes of allocating resources to, and assessing the performance of, the Group’s various lines of business and geographical locations. Individually material operating segments are not aggregated for financial reporting purposes unless the segments have similar economic characteristics and are similar in respect of the nature of products and services, the nature of production processes, the type or class of customers, the methods used to distribute the products or provide the services, and the nature of the regulatory environment. Operating segments which are not individually material may be aggregated if they share a majority of these criteria. The Group’s three segments are wholesale, retail and contract manufacturing. Revenue recognition Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods sold in the normal course of business, net of discounts and sales related taxes. The Group’s revenue originates (i) from corporate owned stores, (ii) distributors and (iii) the services performed as an original design manufacturer. Revenue from all above categories is recognized when all the following conditions are satisfied: ● the Group has transferred to the buyer the significant risks and rewards of ownership of the goods; ● the Group has fully rendered service to the contract manufacturing customer by shipping the product to the customer; ● the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ● the amount of revenue can be measured reliably; ● it is probable that the economic benefits associated with the transaction will flow to the Group; and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from sale of goods is recognized when the goods are delivered and title has passed. Value added tax (VAT) Output VAT is 17% of product sales and taxable services revenue, according to tax laws. The remaining balance of output VAT, after subtracting the deductible input VAT of the period, is VAT payable. Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognized in profit or loss in the period in which they are incurred. Retirement benefit costs Pursuant to the relevant regulations of the PRC government, the Group’s subsidiaries located in the PRC participate in a local municipal government retirement benefits scheme (the “Scheme”), whereby they contribute a prescribed percentage of the basic salaries of their employees to the Scheme to fund their retirement benefits. Once the Scheme has been funded via contributions by the Group’s participating subsidiaries, the local municipal government takes responsibility for the retirement benefits obligations of all existing and future retired employees of those subsidiaries located in the PRC; accordingly, the only obligation of the Group with respect to the Scheme is to pay the on-going required contributions as long as the employees maintain employment with the Group. There are no provisions under the Scheme whereby forfeited contributions may be used to reduce future contributions. These plans are considered defined contribution plans. The Group has no legal or constructive obligations to pay further contributions after its payment of the fixed contributions into the pension schemes. Contributions to pension schemes are recognized as an expense in the period in which the related service is performed. Taxation The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case the tax is also recognised in other comprehensive income or directly in equity, respectively. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from goodwill or from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments are only recognized to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. Store pre-opening cost Store pre-opening cost was the start-up activity costs incurred prior to opening a new store, mainly including leasing, leasehold improvements, payroll and supplies. The accounting policies for leasing and leasehold improvements were as below. Other store pre-opening costs were directly charged to expenses when occurred. Leasing Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. Leasehold improvements Leasehold improvements, principally comprising costs of office buildings and shops renovation, are held for administrative and selling purposes. Leasehold improvements are initially measured at cost and amortized systematically over its useful life. Property, plant and equipment Property, plant and equipment (“PPE”) including buildings held for use in the production or supply of goods or services, or for administrative purposes other than construction in progress are stated at cost less subsequent accumulated depreciation and accumulated impairment losses. Depreciation is provided to write off the cost of items of property, plant and equipment other than construction in progress over their estimated useful lives and after taking into account of their estimated residual value, using the straight-line method. Construction in progress includes property, plant and equipment in the course of construction for production or for its own use purposes. Construction in progress is carried at cost less any recognized impairment loss. Construction in progress is classified to the appropriate category of property, plant and equipment when completed and ready for intended use. Depreciation of these assets, on the same basis as other property assets, commences when the assets are ready for their intended use. An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in profit or loss in the period in which the item is de-recognized. The Group as lessor Rental income from operating leases is recognized in profit or loss on a straight-line basis over the term of the relevant lease. Land use rights Land use rights are stated at cost less accumulated amortization and accumulated impairment losses. Cost represents consideration paid for the rights to use the land on which various plants and buildings are situated for periods varying from 20 to 50 years. Amortization of land use rights is calculated on a straight-line basis over the period of the land use rights. Inventories Inventories are stated at the lower of cost and net realizable value. Costs of inventories are determined using the weighted average method. Net realizable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale. Financial instruments Financial assets and financial liabilities are recognized on the consolidated statements of financial position when a group entity becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. (1) Financial assets The Group’s financial assets are classified as receivables. Effective interest method The effective interest method is a method of calculating the amortized cost of a financial asset and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial asset, or, where appropriate, a shorter period to the net carrying amount on initial recognition. Interest income is recognized on an effective interest basis for debt instruments. Receivables Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Receivables (including trade and other receivables, related parties receivables, and cash and cash equivalents) are measured at amortized cost using the effective interest method, less any impairment (see accounting policy on impairment loss on receivables below).   Impairments of receivables Receivables are assessed for indicators of impairment at the end of the reporting period. Receivables are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the receivables, the estimated future cash flows of the receivables have been affected. Objective evidence of impairment could include: ● significant financial difficulty of the issuer or counterparty; ● default or delinquency in interest or principal payments; ● it becoming probable that the borrower will enter bankruptcy or financial reorganization. For certain categories of financial asset, such as trade and other receivables, assets that are assessed not to be impaired individually are subsequently assessed for impairment on a collective basis. Objective evidence of impairment for a portfolio of receivables could include the Group’s past experience of collecting payments, and increase in the number of delayed payments in the portfolio past the average credit period, observable changes in national or local economic conditions that correlate with default on receivables. An impairment loss is recognized in profit or loss when there is objective evidence that the asset is impaired, and is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the original effective interest rate. The carrying amount of the receivables is reduced by the impairment loss directly for all financial assets with exception of trade and other receivables, where the carrying amount is reduced through the use of an allowance account. Changes in carrying amount of the allowance account are recognized in profit or loss. When a trade and other receivable are considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited to profit or loss. If, in a subsequent period, the amount of impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment losses was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the asset at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other financial institutions, and short-term, highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value, having been within three months of maturity at acquisition (2) Financial liabilities and equity Financial liabilities and equity instruments issued by a group entity are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Effective interest method The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period to the net carrying amount on initial recognition. Interest expense is recognized on an effective interest basis. Financial liabilities Financial liabilities including trade and other payables, related parties payables and short-term loans are subsequently measured at amortized cost, using the effective interest method. Equity instruments Equity instruments issued by the group entities are recorded at the proceeds received, net of direct issue costs. (3) De-recognition Financial assets are derecognized when the rights to receive cash flows from the assets expire or, the financial assets are transferred and the Group has transferred substantially all the risks and rewards of ownership of the financial assets. On de-recognition of a financial asset, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. Financial liabilities are derecognized when the obligation specified in the relevant contract is discharged, cancelled or expires. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. Subsidies prepaid to distributors Subsidies were paid to major distributors for compensating their rental expenses. Such subsidies would vest to distributors when they met the sales targets predetermined by the Company. Subsidies prepaid to distributors were recognized when payments were made and amortized over the agreement term on a straight-line basis in selling expenses. Capital and Reserves Share capital represents the nominal value of shares that have been issued by the Group. Share capital is determined using the nominal value of shares that have been issued. Retained profits include all current and prior period results as determined in the combined statement of comprehensive income. Foreign currency translation reserve arising on the translation are included in the currency translation reserve. In accordance with the relevant laws and regulations of PRC, the subsidiaries of the Group established in PRC are required to transfer 10% of its annual statutory net profit (after offsetting any prior years’ losses) to the statutory reserve. When the balance of such reserve reaches 50% of the subsidiary’s share capital, any further transfer of its annual statutory net profit is optional. Such reserve may be used to offset accumulated losses or to increase the registered capital of the subsidiary subject to the approval of the relevant authorities. However, except for offsetting prior years’ losses, such statutory reserve must be maintained at a minimum of 25% of the share capital after such usage. The statutory reserves are not available for dividend distribution to the shareholders. All transactions with owners of the Group are recorded separately within equity. Earnings/(loss) per share Basic earnings per share (“EPS”) are computed by dividing income attributable to holders of common shares by the weighted average number of common shares outstanding during the year. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares. Potential dilutive securities are excluded from the calculation of diluted EPS in loss periods as their effect would be anti-dilutive. The preparation of financial statements in conformity with IFRS requires management to exercise judgment in the process of applying the Group’s accounting policies and requires the use of accounting estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of financial statements and reported amount of revenue and expenses during the reporting period. The following estimates that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are disclosed below.

Significant Management Judgemen

Significant Management Judgement in Applying Accounting Policies	12 Months Ended
	Dec. 31, 2017
Significant Management Judgement in Applying Accounting Policies [Abstract]
SIGNIFICANT MANAGEMENT JUDGEMENT IN APPLYING ACCOUNTING POLICIES	5. SIGNIFICANT MANAGEMENT JUDGEMENT IN APPLYING ACCOUNTING POLICIES Allowance for Bad and Doubtful debts Allowances for bad and doubtful debts are based on an assessment of the recoverability of trade and other receivables. Allowances are applied to trade and other receivables where events or changes in circumstances indicate that the balances may not be collectible. The identification of bad and doubtful debts requires the use of judgment and estimates, where the expected outcome is different from the original estimate, such difference will impact carrying value of trade and other receivables and doubtful debt expenses in the period in which such estimate has been charged. Impairment Losses Impairment losses are based on an assessment of the investment or long lived assets’ ability to generate future cash flows when there is evidence that these assets may be impaired. The calculation of the amount of impairment loss are based on estimates made by management when applying broad accounting principles governing the accounting for these assets. The determination of these estimates requires judgment by management. The final outcome may differ from the original estimates made by management, which may impact the carrying value of the assets which management has determined to be impaired and charged to the Company’s profit loss during the period. Income Tax The Group has exposure to income taxes in numerous jurisdictions. Significant judgment is involved in determining the Group’s provision for income taxes. There are certain transactions and computations for which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognizes liabilities for expected tax issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recognized, such differences will impact the income tax and differed tax provisions in the period in which such determination is made. The carrying amount of the Group’s income tax payable as at December 31, 2017 and 2016 amounted to $nil and $258,259 respectively.

Key Sources of Estimation Uncer

Key Sources of Estimation Uncertainty	12 Months Ended
	Dec. 31, 2017
Key Sources of Estimation Uncertainty [Abstract]
KEY SOURCES OF ESTIMATION UNCERTAINTY	6. KEY SOURCES OF ESTIMATION UNCERTAINTY In the application of the Group’s accounting policies, which are described in Note 4, management is required to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets within the next financial year. Depreciation of building, machinery and equipment As described in Note 4, the Group reviews the estimated useful lives and residual values of property, plant and equipment at the end of each reporting period. The cost of building, machinery and equipment is depreciated on a straight-line basis over the assets’ estimated useful lives. Management estimates the useful lives of these buildings, machinery and equipment to be within 5 to 20 years. These are the common life expectancies applied in the same industry. Changes in the expected level of usage and technological developments could impact the economic useful lives and the residual values of these assets, therefore future depreciation charges could be revised. Fair value of warrants The fair value of warrants was determined using a binomial-lattice model. This model requires the input of highly subjective assumptions, including price volatility of the underlying stock. Changes in the subjective input assumptions can materially affect the estimate of fair value of the warrants and the Company’s results of operations could be impacted. This model is dependent upon several variables such as the instrument’s expected term, expected strike price, expected risk-free interest rate over the expected instrument term, the expected dividend yield rate over the expected instrument term, and the expected volatility of the Company’s stock price over the expected term. The expected term represents the period of time that the instruments granted are expected to be outstanding. The expected strike price is based upon a weighted average probability analysis of the strike price changes expected during the term as a result of the down round protection. The risk-free rates are based on U.S. Treasury securities with similar maturities as the expected terms of the options at the date of valuation. Expected dividend yield is based on historical trends. The Company measures volatility using the volatility rates of market index. Impairment of non-financial assets Property, plant and equipment are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the cash-generating-unit (“CGU”) to which the asset belongs. If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. The difference between the carrying amount and recoverable amount is recognized as an impairment loss in the income statement, unless the asset is carried at revalued amount, in which case, such impairment loss is treated as a revaluation decrease. An impairment loss for an asset other than goodwill is reversed if, and only if, there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. The carrying amount of this asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization or depreciation) had no impairment loss been recognized for the asset in prior years. A reversal of impairment loss for an asset other than goodwill is recognized in the income statement, unless the asset is carried at revalued amount, in which case, such reversal is treated as a revaluation increase. During the years ended December 31, 2017 and 2016, the Company recognized impairment losses of $nil and $4,659,838, respectively, for its prepayments for acquisition of land use rights. During the years ended December 31, 2017 and 2016, the Company recognized impairment losses of $nil and $6,989,200, respectively, for its related prepayments for construction on such land. The impairment reflects the current reduction in the value of the investment as a result of the delay in time to complete the construction projects and delay in procurement of legal certificates that would lead to the assets being put into service that would give rise to expected future profitability which at December 31, 2017, has been temporarily postponed beyond the next operating period. The impairment losses charged to the prepayments has brought the carrying values to their respective recoverable amount in its fair value less costs to sell. For the prepayment for acquisition of land use rights, the Company provided an estimate of its fair value based on the market value substitution rule. The estimated fair value belongs to Level 2 of the fair value hierarchy because the input is determined through quoted prices of similar assets without an actively quoted market. Using the market approach, the Company compares the price of the land use right that the Company intended to acquire with the price of similar land use rights in the same geographical area, adjusted by factors such as price index, frequency of actual transactions conducted, environmental conditions, etc. Significant assumptions used in this estimation include the ability to legally obtain such land use rights, the usage of land as industrial use, the date of transaction at year end, etc. As a result, the Company provided an estimate in the amount of $5,154,034. Finally, the fair value is reduced by estimated costs to sell which include, but not limited to, legal costs, stamp duty, similar transaction tax, etc. in the amount of $379,971. The net value is then compared to the carrying value, and the difference is recorded as impairment loss in the amount of $1,317,295 in 2015. In 2016, since there is no progress in regards to the acquisition of land use rights, the Company provided further impairment to bring the carrying value down to $0 as management is unable to assert the recoverability of such asset. For the prepayment for construction, the Company provided an estimate of its fair value based on the time value approach. The estimated fair value belongs to Level 3 of the fair value hierarchy because the input is not easily observable. Using this approach, the Company calculates the time value of money of the amount prepaid based on the Company’s weighted average cost of capital (“WACC”) in order to arrive at its fair value. The Company uses this approach to determine its recoverable amount because such prepayments are not readily resalable, and the ability to realize this amount is contingent upon the Company’s ability to successfully acquire the land use right as mentioned above. Significant assumptions used in this estimation include using the WACC, which is comprised of the Company’s metrics of return of equity, return of debt, the relevant weights of the returns of equity and debt, and tax rate, in determining the fair value. As a result, as at December 31, 2015, the Company provided an estimate in the amount of $7,160,523. Since this asset is not resalable, the company estimated costs to sell for this asset in the amount of $0. The net value is then compared to the carrying value, and the difference is recorded as impairment loss in the amount of $1,248,039 in 2015. In 2017, since there was no progress in regards to the construction, the Company provided further impairment to bring the carrying value down to $0 as management is unable to assert the recoverability of such asset.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
SEGMENT REPORTING	7. SEGMENT REPORTING Management currently identifies the Group’s three sales models as operating segments, which are wholesale, retail and contract manufacturing. The segment presentation is in accordance with management’s expectation of future business developments. These operating segments are monitored and strategic decisions are made on the basis of segmental gross margins. By business Wholesale Retail Subcontracting Consolidated For the year ended For the year ended For the year ended For the year ended 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 Sales to external customers 15,034,800 32,127,083 40,815,528 6,983,592 5,529,985 18,091,585 1,744,144 3,543,137 2,436,568 23,762,536 41,200,205 61,343,681 Segment revenue 15,034,800 32,127,083 40,815,528 6,983,592 5,529,985 18,091,585 1,744,144 3,543,137 2,436,568 23,762,536 41,200,205 61,343,681 Segment gross margins/(loss) 2,277,858 6,504,893 9,668,518 (14,291,680 ) (5,668,061 ) 4,239,168 502,007 1,321,441 924,721 (11,511,815 ) 2,158,273 14,832,407 Reconciling items (7,901,842 ) (17,787,093 ) (12,983,048 ) Profit/(loss) before tax (19,413,657 ) (15,628,820 ) 1,849,359 Income tax income/(expense) 4,598,061 3,726,133 (605,689 ) Profit/(loss) for the year (14,815,596 ) (11,902,687 ) 1,243,670 As of December 31, 2017 Wholesale and Retail Subcontracting Unallocated Consolidated Current assets 34,036,883 6,284,118 22,384 40,343,385 Non-current assets 8,987,857 31,978,462 - 40,966,319 Total assets 43,024,740 38,262,580 22,384 81,309,704 Current liabilities 3,722,277 1,995,164 1,565,068 7,282,509 Total liabilities 3,722,277 1,995,164 1,565,068 7,282,509 As of December 31, 2016 Wholesale and Retail Subcontracting Unallocated Consolidated Current assets 50,272,887 6,048,538 22,398 56,343,823 Non-current assets 4,354,540 30,400,401 - 34,754,941 Total assets 54,627,427 36,448,939 22,398 91,098,764 Current liabilities 3,342,199 1,793,351 2,561,089 7,696,639 Total liabilities 3,342,199 1,793,351 2,561,089 7,696,639 Geographical information The Group’s operations are located in the PRC and all of the Group’s revenue is derived from sales to customers in the PRC. Hence, no analysis by geographical area of operations is provided. Information about major customers Major distributors that make up 10% or more of wholesale revenue are as below: Year ended December 31, 2017 2016 2015 Distributor A 1,454,862 3,782,718 6,625,797 Other distributors 13,579,938 28,344,365 34,189,731 15,034,800 32,127,083 40,815,528 Information about major suppliers Major suppliers that make up 10% or more of purchases are as below: Year ended December 31, 2017 2016 2015 Supplier A 2,403,309 6,655,740 15,048,108 Supplier B 1,714,468 5,424,342 8,354,316 Supplier C 1,684,743 4,083,924 6,588,639 Supplier D 1,530,429 3,023,297 5,294,921 Other suppliers 5,065,563 6,436,809 12,752,234 12,398,512 25,624,112 48,038,218

Revenue

Revenue	12 Months Ended
	Dec. 31, 2017
Revenue [Abstract]
REVENUE	8. REVENUE Year ended December 31, 2017 2016 2015 Apparel -Wholesale 15,034,800 32,127,083 40,815,527 -Retail 6,983,592 5,529,985 18,112,019 Subtotal 22,018,392 37,657,068 58,927,546 Subcontracting 1,744,144 3,543,137 2,416,135 23,762,536 41,200,205 61,343,681 Revenue is denominated only in USD.

Cost of Sales

Cost of Sales	12 Months Ended
	Dec. 31, 2017
Cost of Sales [Abstract]
COST OF SALES	9. COST OF SALES Cost of sales comprises of purchasing materials, labor costs for personnel employed in production, depreciation of non-current assets used for production purpose, outsourced manufacturing cost, taxes and surcharges, and water and electricity. The following table shows a breakdown of cost of sales for the periods presented for each category: Year ended December 31, 2017 2016 2015 Changes in inventories of finished goods and work in progress 227,132 (302,979 ) 64,814 Materials consumed in production 41,057 120,847 183,831 Purchases of finished goods 33,877,598 36,567,197 44,786,912 Labor 602,196 1,313,120 787,472 Depreciation 370,858 236,578 252,055 Rental - - 23,184 Outsourced manufacturing cost - - - Taxes and surcharges * 157,314 253,039 212,516 Water and electricity 52,796 48,557 55,522 Inventory provision 8 320 342 Others 120,886 238,562 197,778 Foreign currency translation difference (175,493 ) 566,691 (53,152 ) 35,274,352 39,041,932 46,511,274 * Tax and surcharges are mainly Urban Maintenance and Construction Tax (7% of Valued Added Tax payment amount), Extra Charges of Education Fund (3% of Valued Added Tax payment amount) and Local Surcharge for Education Fund (2% of Valued Added Tax payment amount).

Other Income

Other Income	12 Months Ended
	Dec. 31, 2017
Other Income [Abstract]
OTHER INCOME	10. OTHER INCOME Year ended December 31, 2017 2016 2015 Government grant 367,260 469,569 209,397 Interest income on bank deposits 81,517 85,482 92,747 Others 12,787 - - 461,564 555,051 302,144

Other Gains and (Losses)

Other Gains and (Losses)	12 Months Ended
	Dec. 31, 2017
Other Gains and (Losses) [Abstract]
OTHER GAINS AND (LOSSES)	11. OTHER GAINS AND (LOSSES) Year ended December 31, 2017 2016 2015 Gain on disposals of property, plant and equipment 171 10,541 11,412 Foreign exchange gain (48 ) 54 (233,532 ) Provision / reversal of inventory obsolescence (101,256 ) (1,667 ) (342 ) Bad debt provision of trade receivables - (331,196 ) (1,070,563 ) Impairment of prepayments in land purchase and related construction - (11,649,038 ) (2,565,334 ) Others (21,110 ) 847,539 (19,473 ) (122,243 ) (11,123,767 ) (3,877,832 )

Distribution and Selling Expens

Distribution and Selling Expenses	12 Months Ended
	Dec. 31, 2017
Distribution and Selling Expenses [Abstract]
DISTRIBUTION AND SELLING EXPENSES	12. DISTRIBUTION AND SELLING EXPENSES Year ended December 31, 2017 2016 2015 Rental 21,527 30,225 508,039 Depreciation 2,680 490,527 1,239,644 Labor 258,233 211,274 739,789 Subsidy to distributors 773,238 910,537 1,061,685 Promotion 32,216 137,210 899,664 Advertisement 1,591,742 1,554,023 1,702,863 Others 585,744 272,214 469,572 3,265,380 3,606,010 6,621,256

Administrative Expense

Administrative Expense	12 Months Ended
	Dec. 31, 2017
Administrative Expense [Abstract]
ADMINISTRATIVE EXPENSE	13. ADMINISTRATIVE EXPENSE Year ended December 31, 2017 2016 2015 Labor 1,600,380 1,170,013 757,639 Audit fee 216,281 (33,997 ) 175,859 Professional fee 77,754 75,609 136,499 Design fee 937,478 465,120 529,141 Depreciation and amortization charges 1,149,455 1,163,293 540,799 Bank charges 18,352 12,943 35,179 Rental 74,668 75,673 80,677 Travelling and entertainment 107,566 44,874 59,516 Others 697,463 570,465 482,774 4,879,397 3,543,993 2,798,083

Finance Costs

Finance Costs	12 Months Ended
	Dec. 31, 2017
Finance Costs [Abstract]
FINANCE COSTS	14. FINANCE COSTS Year ended December 31, 2017 2016 2015 Interest expenses on bank borrowings wholly repayable within one year 96,385 71,783 - Bank borrowings interests are charged at a rate of 6.09% per annum for the bank loan that was fully repaid in 2017. Bank borrowings interests are charged at a rate of 6.09% per annum for the current bank loan.

Income Tax (Income)_ Expense

Income Tax (Income)/ Expense	12 Months Ended
	Dec. 31, 2017
Income Tax (Income)/ Expense [Abstract]
Income Tax (Income)/ Expense	15. INCOME TAX (INCOME)/ EXPENSE Year ended December 31, 2017 2016 2015 PRC enterprises income tax: Current tax - 53,790 1,514,577 Deferred tax (4,598,061 ) (3,779,923 ) (908,888 ) - (3,726,133 ) 605,689 Hongri Fujian and Anhui Kai Xin subject to the applicable enterprise income tax rate of 25%. As of December 31, 2017, 2016, and 2015, the Company had no unrecognized tax benefits. France Cock and Vast Billion were incorporated in Hong Kong and subject to Hong Kong profits tax at a tax rate of 16.5%. No provision for Hong Kong profits tax has been made as France Cock and Vast Billion has no taxable income during the reporting period. Hongri International Holding Limited and Roller Rome were incorporated in the BVI and, under the current laws of the BVI, are not subject to income taxes. KBS Fashion Group Limited was incorporated in the Marshall Island, and, under the current laws of the Marshall Island, is not subject to income taxes. The tax charge for the year can be reconciled to the profit per the consolidated statements of comprehensive income as follows: Year ended December 31, 2017 2016 2015 (Loss)/profit before tax (19,413,657 ) (15,628,820 ) 1,849,359 Tax calculated at domestic tax rates applicable to profits in PRC (2017, 2016, and 2017: 25%) (4,853,414 ) (3,907,205 ) 462,340 Tax effect of expenses not deductible for tax purpose - - 908,974 Tax effect of tax loss of tax exempt entities 255,354 181,072 (765,625 ) Tax charge for the year (4,598,061 ) (3,726,133 ) 605,689 The following is the analysis of the deferred tax balances for financial reporting purposes: 2017 2016 2015 Temporary Deferred Temporary Deferred Temporary Deferred Beginning of the year 20,737,366 4,879,652 5,617,674 1,340,268 1,981,777 495,444 Bad Debt provisions charged to profit or loss - - 331,196 82,799 1,070,563 267,641 Impairment charged to profit or loss 101,256 25,314 11,649,038 2,912,259 2,565,334 641,333 Tax loss carried forward 17,922,508 4,480,627 3,139,458 784,865 Effect of translation - 539,351 - (240,539 ) - (64,150 ) End of the year 38,761,130 9,924,944 20,737,366 4,879,652 5,617,674 1,340,268

Profit for the Year

Profit for the Year	12 Months Ended
	Dec. 31, 2017
Profit for the Year [Abstract]
PROFIT FOR THE YEAR	16. PROFIT FOR THE YEAR Profit for the year has been arrived at after charging: Year ended December 31, 2017 2016 2015 Cost of inventories recognized as expenses 35,094,050 38,788,893 46,298,758 Taxes and surcharges 180,302 253,039 212,516 35,274,352 39,041,932 46,511,274 Depreciation of property, plant and equipment 1,137,831 1,944,176 2,015,437 Amortization of land use rights and trademarks 14,307 19,009 17,061 Amortization of subsidies prepaid to distributors 401,259 910,537 1,093,036 Amortization of prepayments and premiums under operating leases 105,340 118,783 728,996 Provision (Reversal) of inventory obsolescence 101,256 (1,667 ) 342 Provision of bad debt allowance - 331,196 1,028,439 Provision of impairment loss in prepayments - 11,649,038 2,565,334 1,759,993 14,971,072 7,448,645

Employees' Emoluments

Employees' Emoluments	12 Months Ended
	Dec. 31, 2017
Employees' Emoluments [Abstract]
EMPLOYEES' EMOLUMENTS	17. EMPLOYEES’ EMOLUMENTS Year ended December 31, 2017 2016 2015 Salaries and other short-term benefits 2,476,506 1,369,524 1,878,963 Defined contribution benefit schemes 189,621 280,594 1,888,828 Total employee benefits expense (including directors’ emoluments) 2,666,127 1,650,118 3,767,791 The employees of the Group’s PRC subsidiaries are members of state-managed retirement benefit schemes operated by the local government. The subsidiaries are required to contribute a specified percentage of its payroll costs to the retirement benefit schemes to fund the benefits. The only obligation of the Group with respect to the retirement benefit schemes is to make the specified contributions.

Directors' Emoluments

Directors' Emoluments	12 Months Ended
	Dec. 31, 2017
Directors' Emoluments [Abstract]
DIRECTORS' EMOLUMENTS	18. DIRECTORS’ EMOLUMENTS The emoluments paid or payable to the directors of the Company were as follows: Year ended December 31, 2017 2016 2015 Salaries Yan Keyan 304,050 216,342 105,000 Lixia Tu 235,854 203,559 62,371 John Sano 43,950 39,000 20,000 Themis Kalapotharakos 87,900 97,500 - Matthew Los 87,900 97,500 - Zhongmin Zhang 43,950 - - Yuet Mei Chan 43,950 - - 847,554 749,173 292,371 Social Welfare Yan Keyan 1,006 960 982 1,006 960 982

Earnings_ (Loss) Per Share

Earnings/ (Loss) Per Share	12 Months Ended
	Dec. 31, 2017
Earnings/ (Loss) Per Share [Abstract]
EARNINGS/ (LOSS) PER SHARE	19. EARNINGS/ (LOSS) PER SHARE For the years ended December 31, 2017 2016 2015 Basic (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (14,815,596 ) $ (11,902,687 ) $ 1,243,670 Diluted (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (14,815,596 ) $ (11,902,687 ) $ 1,243,670 Basic (Loss)/Earnings Per Share Denominator # Original shares: 1,767,821 1,694,489 1,694,489 Additions from actual events: - Issuance of common stock, weighted 93,010 55,653 - Basic weighted average shares outstanding 1,860,831 1,750,142 1,694,489 Diluted (Loss)/Earnings Per Share Denominator # Basic weighted average shares outstanding 1,860,831 1,750,142 1,694,489 Dilutive shares: Potential additions from dilutive events: - Exercise of investor warrants* - - - Diluted Weighted Average Shares Outstanding: 1,860,831 1,750,142 1,694,489 (Loss)/Earnings Per Share # - Basic $ (7.96 ) $ (6.80 ) $ 0.73 - Diluted $ (7.96 ) $ (6.80 ) $ 0.73 Weighted Average Shares Outstanding # - Basic 1,860,831 1,750,142 1,694,489 - Diluted 1,860,831 1,750,142 1,694,489 * There were no potential dilutive additions to diluted weighted shares outstanding as a result of the outstanding warrants being out-of-the-money during the periods presented. # The amount of shares and the respective calculations of earnings/(loss) per share have been adjusted according to reverse split effective during the year.

Properties. Plant and equipment

Properties. Plant and equipment	12 Months Ended
	Dec. 31, 2017
Properties. Plant and Equipment [Abstract]
PROPERTIES. PLANT AND EQUIPMENT	20. PROPERTIES. PLANT AND EQUIPMENT Plant Machinery Office equipment Motor vehicles Furniture and fixtures Leasehold improvements-factories and offices Leasehold improvements-shops Distributor shops’ furniture and fixtures Total COST At January 1, 2016 30,479,750 1,040,458 130,975 130,681 156,349 750,464 3,920,325 3,203,483 39,812,485 Additions - 27,637 14,495 - 317 141,271 - - 183,720 Disposals - (142,425 ) (2,397 ) - (699 ) - (3,416,591 ) (2,998,722 ) (6,560,834 ) Translation adjustment (1,948,208 ) (66,504 ) (8,372 ) (8,353 ) (9,994 ) (47,968 ) (250,580 ) (204,761 ) (2,544,740 ) At December 31, 2016 28,531,542 859,166 134,701 122,328 145,973 843,767 253,154 - 30,890,631 Additions 965,792 15,893 - - - - - - 981,685 Disposals - - (12,490 ) (43,215 ) (1,836 ) - - - (57,541 ) Translation adjustment 1,758,824 52,963 8,304 7,541 8,999 52,014 15,606 - 1,904,251 At December 31, 2017 31,256,158 928,022 130,515 86,654 153,136 895,781 268,760 - 33,719,026 DEPRECIATION At January 1, 2016 (1,199,268 ) (765,500 ) (75,573 ) (111,127 ) (134,786 ) (358,958 ) (3,920,325 ) (2,710,227 ) (9,275,764 ) Provided for the year (1,283,919 ) (69,007 ) (20,528 ) (5,867 ) (10,812 ) (99,622 ) - (374,763 ) (1,864,518 ) Eliminated upon disposal of assets - 85,455 1,351 - 357 - 3,416,591 2,911,757 6,415,511 Translation adjustment 76,655 48,929 4,830 7,103 8,615 22,944 250,580 173,233 592,889 At December 31, 2016 (2,406,532 ) (700,123 ) (89,920 ) (109,891 ) (136,626 ) (435,636 ) (253,154 ) - (4,131,882 ) Provided for the year (1,377,553 ) (48,120 ) (14,495 ) (174 ) (3,202 ) (114,764 ) - - (1,558,308 ) Eliminated upon disposal of assets - - 10,071 38,893 1,432 - - - 50,396 Translation adjustment (148,350 ) (43,159 ) (5,543 ) (6,774 ) (8,422 ) (26,855 ) (15,606 ) - (254,709 ) At December 31, 2017 (3,932,435 ) (791,402 ) (99,887 ) (77,946 ) (146,818 ) (577,255 ) (268,760 ) - (5,894,503 ) CARRYING AMOUNT At December 31, 2016 26,125,010 159,043 44,781 12,437 9,347 408,131 - - 26,758,749 At December 31, 2017 27,323,723 136,620 30,628 8,708 6,318 318,526 - - 27,824,523 Net exchange differences from translating the financial statements from functional currency to presentation currency were $(1,649,540) and $(1,669,507) as at December 31, 2017 and 2016. Depreciation expense for the years ended December 31, 2017, 2016 and 2015 were $1,510,213, $1,942,735, and $2,015,437, respectively. There was no impairment loss charged for the periods presented. Depreciation is provided on straight-line basis for all property, plant and equipment over their estimated useful lives of the assets as follows: Useful life Residual Value Plant 20 years 10 % Machinery 5 years 10 % Office equipment 5 years 10 % Motor vehicles 5 years 10 % Furniture and fixtures 5 years 10 % Leasehold improvements-factories and offices Shorter of estimated useful life of 5 years or lease term 10 % Leasehold improvements-shops Shorter of estimated useful life of 5 years or lease term Nil Distributor shops’ furniture and fixtures 1.5 years Nil Plant includes buildings owned by Anhui Kaixin built on the following land: Location Description Gross area (m 2 Jinxi Town, Longshan Road, Taihu City, Anhui Province, the PRC Dormitory 8,573 Jinxi Town, Longshan Road, Taihu City, Anhui Province, the PRC Factory 22,292 The buildings were pledged as security for the outstanding bank loans as set forth in note 31. The gross carrying amount of the fully depreciated property, plant and equipment that is still in use is $38,851 and $32,803 as at December 31, 2017 and 2016, respectively. In 2012, the Company performed a revaluation of certain equipment. The revaluation was performed by an independent appraiser on November 10, 2012 and, as a result of the revaluation, the Company recognized a revaluation surplus in the amount of 184,272. The amount is classified as revaluation reserve. Since the surplus has not been realized, the amount recognized is not available for distribution. There was no movement in the revaluation reserve during 2017 and 2016. The carrying amount that would have been recognized had the assets been carried under the cost model is as follows: As at December 31, 2017 2016 Machinery 95,826 141,075 Motor Vehicles 35 33 Office Equipment 2,661 3,202 Furniture and fixtures 739 1,844 99,261 146,154

Prepayments and Premiums Under

Prepayments and Premiums Under Operating Leases	12 Months Ended
	Dec. 31, 2017
Prepayments and Premiums Under Operating Leases [Abstract]
PREPAYMENTS AND PREMIUMS UNDER OPERATING LEASES	21. PREPAYMENTS AND PREMIUMS UNDER OPERATING LEASES Amount At January 1, 2016 2,820,458 additions for the year 38,300 charge for the year (118,783 ) translation adjustment (169,293 ) At December 31, 2016 2,570,682 additions for the year 30,672 charge for the year (105,340 ) translation adjustment 156,092 At December 31, 2017 2,652,106 Analyzed for reporting purposes as: As at December 31, 2017 2016 Current asset 83,907 79,035 Non-current asset 2,568,199 2,491,647 2,652,106 2,570,682

Prepayment for Construction of

Prepayment for Construction of New Plant	12 Months Ended
	Dec. 31, 2017
Prepayment For Construction Of New Plant [Abstract]
PREPAYMENT FOR CONSTRUCTION OF NEW PLANT	22. PREPAYMENT FOR CONSTRUCTION OF NEW PLANT On November 20, 2010, Hongri Fujian entered into an agreement with a third party, Anqing Zhongfang Construction and Installation Co., Ltd., for the construction of the new plant in Anhui at a consideration of $17,826,251. In 2012, Kaixin Anhui made a prepayment of $6,363,853 for the second phase of the project. In 2013, Kaixin Anhui made another prepayment of $9,747,897 for the second phase of the project. The amount of $16,401,778 was recognized in Construction in progress. In 2014, Kaixin Anhui made another prepayment of $15,525,413 for the second and third phase of the project, and an amount of $6,537,016 was recognized in construction in progress. In 2015, an amount of $110,041 was recognized in construction in progress, which was subsequently recognized as fixed asset along with the completion of the second phase of the project. The total amount transferred to fixed assets from construction in progress amounted to $22,960,220. The third phase of the project is related to the construction of a building. The construction site is located on a piece of land whose land use right was to be acquired by the Company. Due to reasons as set forth in note 23, the anticipated completion date of the project is expected to be delayed and, in the worst case, may be terminated. Accordingly, management provided a provision of impairment loss against the carrying value of such prepayment. The detail of estimation of such provision is explained in note 6. As at December 31, 2017, the carrying amount of the prepayment for construction of new plant is as follows: As at Prepaid in 2015 8,469,878 Recognized as construction in progress (110,041 ) 8,359,837 Impairment loss in 2015: (1,199,314 ) 7,160,523 Impairment loss in 2016: (6,989,200 ) Translation adjustment: (171,323 ) -

Prepayment for Acquisition of L

Prepayment for Acquisition of Land Use Right	12 Months Ended
	Dec. 31, 2017
Prepayment for Acquisition of Land Use Right [Abstract]
PREPAYMENT FOR ACQUISITION OF LAND USE RIGHT	23. PREPAYMENT FOR ACQUISITION OF LAND USE RIGHT On September 2, 2010, Hongri Fujian entered into an agreement with a third party, Taihu Weiqi Sports Apparel Co., Ltd., to acquire a land use right in relation to the development of factories in Anhui Kaixin for a total consideration of $6,340,456. As of December 31, 2015, the transaction has not been completed yet due to disputes between the original owner of the land and the government regarding the compensation for vacating the premises. In relation to this dispute, the Company expected that the project would be delayed or, in the worst case, be terminated. Accordingly, the Company provided a provision of impairment loss against the carrying value for such prepayment. The detail estimation of such provision is explained in note 6. As at December 31, 2017, the carrying amount of the prepayment for acquisition of land use right is as follows: As at Prepaid in 2010 6,039,930 Impairment loss: (1,265,867 ) 4,774,063 Impairment loss in 2016: (4,659,838 ) Translation adjustment: (114,225 ) -

Land Use Rights

Land Use Rights	12 Months Ended
	Dec. 31, 2017
Land Use Rights [Abstract]
LAND USE RIGHTS	24. LAND USE RIGHTS Amount COST At January 1, 2016 769,643 additions for the year - translation adjustment (78,025 ) At December 31, 2016 691,618 additions for the year - translation adjustment 42,635 At December 31, 2017 734,253 AMORTIZATION At January 1, 2016 (82,605 ) charge for the year (19,009 ) translation adjustment 34,890 At December 31, 2016 (66,724 ) charge for the year (14,307 ) translation adjustment (4,569 ) At December 31, 2017 (85,600 ) CARRYING AMOUNTS At December 31, 2016 624,894 At December 31, 2017 648,653 The amounts represent the prepayment of rentals for land use right (industrial use) situated in the PRC. The land use rights have the term of 50 years. All the land use rights mentioned above were owned by Anhui Kaixin. The land use right is comprised of the following: Location Expiry date of tenure Land area (m 2 Longshan Road, Economic development District, Taihu County 2062-05-23 2,440 Longshan Road, Economic development District, Taihu County 2061-11-06 7,405

Inventories

Inventories	12 Months Ended
	Dec. 31, 2017
Inventories [Abstract]
INVENTORIES	25. INVENTORIES As at December 31, 2017 2016 Raw materials 1,186,467 1,985,131 Finished goods 726,373 467,757 Provision for obsolete inventories (106,628 ) (2,022 ) 1,806,212 2,450,866

Trade Receivables, Other Receiv

Trade Receivables, Other Receivables and Prepayments	12 Months Ended
	Dec. 31, 2017
Trade Receivables, Other Receivables and Prepayments [Abstract]
TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAYMENTS	26. TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAYMENTS As at December 31, 2017 2016 Trade receivables 11,860,798 24,763,795 Bad debt provision for trade receivables (1,359,255 ) (1,280,330 ) 10,501,543 23,483,465 As at December 31, 2017 2016 Other receivables 2,849 2,251 Prepayments 1,898,419 5,361,869 1,901,268 5,364,120 The fair value of trade and other receivables have not been disclosed as, due to their short duration, management considers the carrying amounts recognized in the consolidated statements of financial position to be reasonable approximation of their fair values. Prepayments include advances to suppliers and prepaid income tax. Before accepting any new customer, the Group assesses the potential customer’s credit quality and defined credit limits by customer. Limits attributed to customers are reviewed once a year. The aging analysis of trade receivables is as follows: As at December 31, 2017 2016 Current 1,791,936 1,496,397 Past due for less than 4 months 2,721,633 9,306,568 Past due for more than 4 months 7,347,229 13,960,830 11,860,798 24,763,795 The Group allows an average credit period of 90 -120 days to its trade customers. For the overdue trade receivable, the Company provided a bad debt allowance amounting to $nil and $331,196 during the years ended December 31, 2017 and 2016, respectively. The provision for doubtful debts is recorded using a provision account unless the Group is satisfied that recovery is remote, in which case the unrecovered loss is written off against trade receivables and the provision for doubtful debts directly. The Group does not hold any collateral over these balances. The movement in the provision for doubtful debts during the year is as follows: 2017 2016 As at Janaury 1 1,280,330 1,028,439 Provision provided in the year - 331,196 Translation adjustment 78,925 (79,305 ) As at December 31 1,359,255 1,280,330 Among the amounts of trade receivables, $1,723,364 and $3,598,158 of output VAT was included as of December 31, 2017 and 2016, respectively.

Subsidies Prepaid to Distributo

Subsidies Prepaid to Distributors	12 Months Ended
	Dec. 31, 2017
Subsidies Prepaid to Distributors [Abstract]
SUBSIDIES PREPAID TO DISTRIBUTORS	27. SUBSIDIES PREPAID TO DISTRIBUTORS Amount At January 1, 2016 516,231 additions for the year 779,991 charge for the year (873,231 ) translation adjustment (32,995 ) At December 31, 2016 389,996 additions for the year - charge for the year (389,996 ) translation adjustment - At December 31, 2017 - Subsidies were paid to major distributors for compensating their rental expenses. Such subsidies would vest to distributors when they met the sales targets predetermined by the Company. Until June 2017, Subsidies prepaid to distributors were recognized when payments were made and amortized over the agreement term on a straight-line basis in selling expenses. After June 2017, the Company no longer prepay such subsidies to its major distributors; therefore, no such prepayment is outstanding as of December 31, 2017. The amortization expense for 2017 and 2016 were $401,258 and $910,537, respectively.

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	28. CASH AND CASH EQUIVALENTS As at December 31, 2017 2016 Cash on hand 16,413 15,066 Bank deposits 26,034,043 24,561,275 26,050,456 24,576,341 As at December 31, 2017 2016 Renminbi 26,040,572 24,566,443 Hong Kong Dollars 8,914 8,921 United States Dollars 970 977 26,050,456 24,576,341 Cash and cash equivalents comprise cash held by the Group and short-term deposits with an original maturity of three months or less. Bank deposits as at December 31, 2017 carry interest at market rates which ranged from 0.35% to 0.50% (2016: 0.35%-0.50%) per annum. Majority of our cash is deposited with financial institution in the PRC. Remittance of funds out of the PRC is subject to the exchange restrictions imposed by the PRC government.

Trade and Other Payables

Trade and Other Payables	12 Months Ended
	Dec. 31, 2017
Trade and Other Payables [Abstract]
TRADE AND OTHER PAYABLES	29. TRADE AND OTHER PAYABLES As at December 31, 2017 2016 Trade payables 104,258 78,994 Employee benefits payable 226,210 207,671 Other payables 1,648,060 1,531,532 Subtotal financial liabilities 1,978,528 1,818,197 Other taxes payable 3,473,302 2,956,431 5,451,830 4,774,628 The fair value of trade and other payables have not been disclosed as, due to their short duration, management considers the carrying amounts recognized in the consolidated statements of financial position to be reasonable approximation of their fair values. Trade payables comprise amounts outstanding for trade purchase. The average credit period is 30 days from the time when the services are rendered by or goods received from suppliers. The aging analysis of trade payables is as follows: As at December 31, 2017 2016 Current 23,587 31,083 Past due for less than 4 months 57,637 16,211 Past due for over 4 months 23,034 31,700 104,258 78,994 The Company was granted a credit term of 30 days. The balances past due were mainly for the Company’s high bargaining power.

Related Parties Payable

Related Parties Payable	12 Months Ended
	Dec. 31, 2017
Related Parties Payable [abstract]
RELATED PARTIES PAYABLE	30. RELATED PARTIES PAYABLE (1) Nature of relationship with related parties Name Relationship with the Group Yan, Keyan Chairman, Director, and CEO Chen, Bizhen Wife of Yan, Keyan KBS International Ex-shareholder of Hongri Shishi City Lingxiu Hongri Knitwear Factory Company owned by Chen, Bizhen (2) Significant balances between the Group and the above related parties: As at December 31, Name Nature 2017 2016 Yan, Keyan Borrowing of funds 154,137 1,125.912 Chen, Bizhen Borrowing of funds - 24,416 154,137 1,150,328 Related parties payables were unsecured, non-interest bearing and repayment on demand. During 2017, Mr. Yan and Ms. Chen provided personal guarantees for the loans as set forth in Note 31. *The Company entered into a lease arrangement for office space with this related party in 2010. The breakdown of the commitment to the lease is disclosed in note 35.

Short-Term Bank Loans

Short-Term Bank Loans	12 Months Ended
	Dec. 31, 2016
Short-Term Bank Loans [Abstract]
SHORT-TERM BANK LOANS	31. SHORT-TERM BANK LOANS As at December 31, 2017 2016 Secured bank borrowings 1,606,930 1,513,623 Carrying amount repayable within 1 year 1,606,930 1,513,623 The borrowings are fixed-rate and denominated in RMB. Bank loans Amount Period Interest rate Mortgage Personal guarantee #1 459,123 4/6/2017 4/5/2018 6.09 % Land use right and buildings Yan, Keyan/ #2 1,147,807 3/24/2017 3/21/2018 6.09 % Land use right and buildings Yan, Keyan/ 1,606,930

Warrant Liabilities

Warrant Liabilities	12 Months Ended
	Dec. 31, 2017
Warrant Liabilities [Abstract]
WARRANT LIABILITIES	32. WARRANT LIABILITIES On November 1, 2012, the Company sold 5,000,000 Units at an offering price of $10.00 per Unit generating gross proceeds of $50,000,000 in the Public Offering. Each Unit consisted of one share of common stock of the Company and one warrant to purchase one share of common stock of the Company (“Redeemable Warrants”). Each Redeemable Warrant entitled the holder to purchase one share of common stock at a price of $11.50 which would commence on the later of either the completion of an initial Acquisition Transaction or October 24, 2013, and would expire five years from the completion date of an initial Acquisition Transaction, provided that there is an effective registration statement covering the shares of common stock underlying the Redeemable Warrants. The Company is entitled to redeem the Redeemable Warrants at a price of $0.01 per Redeemable Warrant upon providing 30 days’ notice, subject to the last sale price of the common stock was at a minimum of $17.50 per share for any 20 trading days within a 30-trading day period (“30-Day Trading Period”) that ended on the third day prior to the date on which notice of redemption is given, provided that there is a current registration statement in effect with respect to the shares of common stock underlying such Redeemable Warrants commencing ten days prior to the 30-Day Trading Period and continuing each day thereafter until the date of redemption. The Company is required to use its best efforts to maintain the effectiveness of the registration statement covering the Redeemable Warrants. However, there are no contractual penalties for failure to deliver securities if a registration statement is not effective at the time of exercise. Additionally, in the event that a registration statement is not effective at the time of exercise, the holder of such Redeemable Warrant shall not be entitled to exercise such Redeemable Warrant for cash and in no event (whether in the case of a registration statement not being effective or otherwise) will the Company be required to net cash settle the Redeemable Warrant exercise. Simultaneously with the consummation of the Public Offering, the Company consummated a Private Placement for the sale of 337,750 Placement Units to its Founders at a price of $10.00 per share, generating total proceeds of $3,377,500. The Placement Units are identical to the Units sold in the Public Offering except that the warrants included in the Placement Units (i) were not redeemable by the Company and (ii) may be exercised for cash, or on a cashless basis, so long as they are held by the initial purchaser or any of its permitted transferees. Additionally, the Placement Units have been placed in escrow and the purchasers have agreed not to transfer, assign or sell any of the Placement Units, including the underlying securities (except to certain permitted transferees) until 30 days following the completion of an initial Acquisition Transaction. The securities held in the escrow account will only be released prior to the end of the escrow period if following the initial Acquisition Transaction, the Company consummates a subsequent transaction that results in all stockholders having a right to exchange their shares for cash or other consideration. The Company granted the underwriter in the Public Offering a 45-day option to purchase up to an additional 750,000 Units solely to cover over-allotments, if any. On November 7, 2012, the underwriters exercised a portion of their option and the Company sold an additional 550,000 Units at a price of $10.00 per Unit generating gross proceeds of $5,500,000. In addition, the Company sold an additional 30,250 Private Placement Units generating gross proceeds of $302,500. The table below provides a reconciliation of the beginning and ending balances for the liabilities measured using fair significant unobservable inputs: Balance – January 26, 2012 (inception) - Correction of an error 3,200,223 Issuance of warrants as part of Units on November 7, 2012 322,884 Change in fair value (45,225 ) Balance – December 31, 2012 3,477,882 Change in fair value (45,442 ) Balance – December 31, 2013 3,432,440 Change in fair value (3,417,053 ) Balance – December 31, 2014 15,387 Change in fair value (11,978 ) Balance – December 31, 2015 3,409 Change in fair value (3,409 ) Balance – December 31, 2016 - Change in fair value - Balance – December 31, 2017 - The fair value of warrants was determined using a binomial-lattice model. This model requires the input of highly subjective assumptions, including price volatility of the underlying stock. Changes in the subjective input assumptions can materially affect the estimate of fair value of the warrants and the Company’s results of operations could be impacted. This model is dependent upon several variables such as the instrument’s expected term, expected strike price, expected risk-free interest rate over the expected instrument term, the expected dividend yield rate over the expected instrument term, and the expected volatility of the Company’s stock price over the expected term. The expected term represents the period of time that the instruments granted are expected to be outstanding. The expected strike price is based upon a weighted average probability analysis of the strike price changes expected during the term as a result of the down round protection. The risk-free rates are based on U.S. Treasury securities with similar maturities as the expected terms of the options at the date of valuation. Expected dividend yield is based on historical trends. The Company measures volatility using the volatility rates of market index. The inputs to the model were as follows: December 31. December 31, Stock price $ 4.14 $ 0.28 Dividend yield N/A N/A Risk-free rate 1.89 % 1.28 % Expected term (in years) 1.58 2.58 Expected volatility 22.3 % 23.6 % The quoted price of the warrants on the over-the-counter-markets (“OTC”) were $0.001 and $0.02 as at December 31, 2017 and 2016, respectively. At December 31, 2017, there were 393,835 unexpired warrants outstanding.

Share Capital and Share Premium

Share Capital and Share Premium	12 Months Ended
	Dec. 31, 2017
Share Capital and Share Premium [Abstract]
SHARE CAPITAL AND SHARE PREMIUM	33. SHARE CAPITAL AND SHARE PREMIUM The details of the Group’s share capital are as follows: Number of shares Share capital Share premium Shares outstanding as December 31, 2016 1,767,821 $ 177 $ 6,056,240 Issuance of shares 218,478 21 629,930 Shares outstanding as December 31, 2017 1,986,299 $ 198 $ 6,686,170 Number of shares Share capital Share premium Authorized Common shares of US$0.0001 as at December 31, 2017 150,000,000 $ 15,000 $ - Issue and fully paid common shares of US$0.0001 as at December 31, 2016, retroactively adjusted 1,767,821 $ 177 $ 6,056,240 Issue and fully paid common shares of US$0.0001 as at December 31, 2017 1,986,299 $ 198 $ 6,686,170 Preferred Stock The Company is authorized to issue 5,000,000 preferred shares with a par value of $0.0001 per share with such designation, rights and preferences as may be determined by the Company’s board of directors. No preferred shares are currently issued or outstanding. Common Stock The Company is authorized to issue 150,000,000 shares of common stock with a par value of $0.0001 per share. On March 29, 2016, the Company granted 1,100,000 of common stock to its executive officers and directors as compensation of their past services. The shares were vested immediately. The fair value of the award was calculated on the date of grant using the quoted price of the Company’s common stock. Total expense recognized in connection with this share-based payment amounted to $429,000. On January 20, 2017, the Company granted and issued 57,600 shares to its employees. On February 6, 2017, the 1-15 reverse stock split took effect and, as a result, the number of issued and outstanding shares of the Company’s Common Stock is reduced from 26,517,329 shares to approximately 1,767,821 shares. The accompanying financial statements have been retroactively adjusted to reflect the effects of the reverse stock split. On July 10, 2017, the Company granted, and subsequently issued, 215,000 shares to its directors. The shares are for services rendered in 2017. The shares are vested immediately upon granting. On February 10, 2018, the Company granted, and subsequently issued, 285,000 shares to its directors. The shares are for services rendered in 2018. The shares are vested immediately upon granting.

Reserve

Reserve	12 Months Ended
	Dec. 31, 2017
Reserve [Abstract]
RESERVE	34. RESERVE Statutory surplus reserve As stipulated by the relevant laws and regulations applicable to China’s foreign investment enterprises, the Company’s PRC subsidiaries are required to maintain a statutory surplus reserve which is non-distributable. Appropriations to such reserve are made out of net profit after tax of the statutory financial statements of the PRC subsidiaries at the amounts determined by their respective boards of directors annually up to 50% of authorized capital, but must not be less than 10% of the net profit after tax. The statutory surplus reserve can be used for making up losses of the group entities in Mainland China, if any. The statutory surplus reserve may also be used to increase capital or to meet unexpected or future losses. The statutory surplus reserve is non-distributable other than upon liquidation. The statutory surplus reserve of the Group amounts to $6,084,836 and $6,084,836 at December 31, 2017 and 2016, respectively. The statutory surplus reserve of the Group is related to Hongri Fujian and Anhui Kaixin. Revaluation reserve Revaluation reserve is comprised of the surplus or deficit arising from the revaluation of the Company’s fixed assets. Retained profits The retained profits comprise the cumulative net gains and losses recognized in the Company’s income statement. Foreign currency translation reserve (other comprehensive income) Foreign currency translation reserve represents the foreign currency translation difference arising from the translation of the financial statements of companies within the Group from their functional currency to the Group’s presentation currency.

Risk Management and Fair Values

Risk Management and Fair Values	12 Months Ended
	Dec. 31, 2017
Risk Management and Fair Values [Abstract]
RISK MANAGEMENT AND FAIR VALUES	35. RISK MANAGEMENT AND FAIR VALUES 1. Capital risk The Group manages its capital to ensure that entities in the Group will be able to continue as a going concern while maximizing the return to owners through the optimization of the debt and equity balance. The Group’s overall strategy remains unchanged during the year. The capital structure of the Group consisted of borrowings net of bank balances and cash, and equity attributable to owners of the Company comprising issued share capital and various reserves. The directors of the Company review the capital structure regularly. As part of this review, the Group considers the cost of capital and the risks associated with each class of capital, and will balance its overall capital through the payment of dividends, new share issues as well as the issue of new debt or the redemption of existing debt. The Group monitors capital using the Gearing Ratio, which is net debt divided by total equity. Net debt represents borrowings less cash and cash equivalents. The Company met its objective by minoring borrowing activities. The Company and its subsidiaries are not subject to externally imposed capital requirements. December 31, December 31, Total borrowing 1,609,930 1,513,623 Less: cash and cash equivalents (26,050,456 ) (24,576,341 ) Net debt (24,443,526 ) (23,062,718 ) Total equity 74,027,196 83,402,126 Total capital 49,583,670 60,339,408 Gearing ratio (33 )% (28 )% 2. Financial risk Financial risk management objectives and policies The Group’s major financial instruments include trade and other receivables, related parties receivables, cash and cash equivalents, trade and other payables, related parties payables and short-term loans. Details of these financial instruments are disclosed in the respective notes. The risks associated with these financial instruments include credit risk, market risk (interest rate risk and currency risk) and liquidity risk. The policies on how to mitigate these risks are set out below. The management manages and monitors these exposures to ensure appropriate measures are implemented on a timely and effective manner. 3. Market risk (i) Foreign currency risk While our reporting currency is the U.S. dollar, substantially all of our consolidated revenues and consolidated costs and expenses are denominated in RMB. Substantially all of our assets are denominated in RMB. As a result, we are exposed to foreign exchange risk as our revenues and results of operations may be affected by fluctuations in the exchange rate between the U.S. dollar and the RMB. If the RMB depreciates against the U.S. dollar, the value of our RMB revenues, earnings and assets as expressed in our U.S. dollar financial statements will decline. Assets and liabilities are translated at exchange rates at the balance sheet dates and revenue and expenses are translated at the average exchange rates and equity is translated at historical exchange rates. Any resulting translation adjustments are not included in determining net income but are included in determining other comprehensive income, a component of equity. An average appreciation (depreciation) of the RMB against the U.S. dollar of 6% would increase (decrease) our comprehensive income by $0.8 million based on our outstanding revenues, costs and expenses, assets and liabilities denominated in RMB as of December 31, 2017. As of December 31, 2017, our accumulated other comprehensive loss was $(3.0) million. We have not entered into any hedging transactions in an effort to reduce our exposure to foreign exchange risk. (ii) Interest rate risk We deposit surplus funds with Chinese banks earning daily interest. We do not invest in any instruments for trading purposes. Most of our outstanding debt instruments carry fixed rates of interest. Our operations generally are not directly sensitive to fluctuations in interest rates and we currently do not have any long-term debt outstanding. Management monitors the banks’ prime rates in conjunction with our cash requirements to determine the appropriate level of debt balances relative to other sources of funds. We have not entered into any hedging transactions in an effort to reduce our exposure to interest rate risk. 4. Credit risk As at December 31, 2017, the Group’s maximum exposure to credit risk which will cause a financial loss to the Group due to failure to perform an obligation by the counterparties is arising from the carrying amount of the respective recognised financial assets as stated in the consolidated statement of financial position. In order to minimize the credit risk, the management of the Group has delegated a team responsible for determination of credit limits, credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. In addition, the Group reviews the recoverable amount of each individual trade debt at the end of each reporting period to ensure that adequate impairment losses are made for irrecoverable amounts. In this regard, the directors of the Group consider that the Group’s credit risk is significantly reduced. The Group has concentration of credit risk on the Group’s trade receivables. The outstanding balance of the five largest customers represented approximately 26% of the trade receivables of the Group at December 31, 2017 (2016: 28%). In order to minimize the credit risk, management continuously monitors the level of exposure to ensure that follow-up actions and/or corrective actions are taken promptly to lower the risk exposure or to recover overdue balances. 5. Liquidity risk In the management of the liquidity risk, the Group monitors and maintains a level of cash and bank balances deemed adequate by the management to finance the Group’s operations and mitigate the effects of fluctuations in cash flows. The management monitors the utilization of bank borrowings and ensures compliance with loan covenants. Liquidity tables The following tables detail the Group’s remaining contractual maturity for its non-derivative financial liabilities as at December 31, 2017 based on agreed repayment terms. The tables have been drawn up based on undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. The tables include both interest and principal cash flows. As at December 31, 2017 Within 1 year Over 1 year Total Short-term bank loans and related interests 1,606,930 - 1,606,930 Trade and other payables 5,451,830 - 5,521,442 Related parties payables 154,137 - 154,137 Income tax payable - - - Total 7,212,897 - 7,282,509 As at December 31, 2016 Within 1 year Over 1 year Total Short-term bank loans and related interests 1,535,053 - 1,535,053 Trade and other payables 4,774,628 - 4,774,628 Related parties payables 1,150,129 - 1,150,129 Income tax payable 258,259 - 258,259 Total 7,718,069 - 7,718,069 6. Fair value The fair value of financial assets and financial liabilities is determined in accordance with generally accepted pricing models based on discounted cash flow analysis. The following table presents the fair value of the Group’s financial instruments measured at the end of the reporting period on a recurring basis, categorized into the three-level fair value hierarchy as defined in IFRS 13, Fair Value Measurement. The level into which a fair value measurement is classified is determined with reference to the observability and significance of the inputs used in the valuation technique as follows: - Level 1 valuations: Fair value measured using only Level 1 inputs i.e. unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. - Level 2 valuations: Fair value measured using Level 2 inputs i.e. observable inputs which fail to meet Level 1, and not using significant unobservable inputs. Unobservable inputs are inputs for which market data are not available. - Level 3 valuations: Fair value measured using significant unobservable inputs. December 31, December 31, Recurring far value measurements Liabilities: Warrant liabilities - - - - During the years ended December 31, 2017 and 2016, there were no transfers between Level 1 and Level 2, or transfers into or out of Level 3. The Group’s policy is to recognize transfers between levels of fair value hierarchy as at the end of the reporting period in which they occur. Valuation techniques and inputs used in Level 2 fair value measurements The fair value of financial assets in Level 2 is determined by the model as disclosed in note 32. The directors of the Company consider that the carrying amounts of financial assets and financial liabilities recorded at amortized cost approximate their fair values.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	36. COMMITMENTS AND CONTINGENCIES (1) The Company had the following capital commitments in respect of the construction of plant and equipment which were contracted but not provided for in the financial statements: As at As at Contracted and authorized, in RMB 439,850,378 439,850,378 Contracted and authorized, in USD 67,315,108 63,406,426 (2) As at December 31, 2017, the Company had lease commitments as follows: As at December 31, 2017 2016 Within 1 year 101,660 79,035 2-5 years 231,138 290,289 Thereafter 2,337,061 2,237,645 2,669,859 2,606,969 The amount of $101,660 as of December 31, 2017 represents leases of two offices, four units of staff quarters, and one warehouse. There is no contingent rent payable for all of the leases. All leases are within one year except for one of the offices, which is leased by a related party as disclosed in note 30. The commitment pertains to this particular lease is as follows: As at December 31, 2017 2016 Within 1 year 77,046 72,252 2-5 years 231,138 290,289 Thereafter 2,337,061 2,237,645 2,645,245 2,600,506 The Company has prepaid this lease in the full amount. The lease commenced on January 1, 2009 and will expire on April 22, 2052. The lease does not specify the terms of renewal, purchase options, or escalation clauses. The Company may not sublease the office to a third party.

Events After the Balance Sheet

Events After the Balance Sheet	12 Months Ended
	Dec. 31, 2017
Events After the Balance Sheet [Abstract]
EVENTS AFTER THE BALANCE SHEET	37. EVENTS AFTER THE BALANCE SHEET Shares issuance On February 10, 2018, the Company granted, and subsequently issued, 285,000 shares to its directors.

Signifcant Accounting Policies

Signifcant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Signifcant Accounting Policies [Abstract]
Basis of preparation	Basis of preparation The consolidated financial statements have been prepared on the historical cost basis and in accordance with IFRS as issued by the IASB. The principal accounting policies are set out below.
Basis of consolidation	Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company (its subsidiaries). Control is achieved where the Company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.
Foreign currencies	Foreign currencies Functional and presentation currency Items included in the financial statements are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The Group conducts its business predominately in the PRC and hence its functional currency is the Renminbi (RMB). Translation from RMB to USD found place at the following rates: Period end rates Average rates December 31, 2015 USD 1.00= RMB 6.4936 USD 1.00=RMB 6.2401 December 31, 2016 USD 1.00= RMB 6.9370 USD 1.00=RMB 6.6528 December 31, 2017 USD 1.00= RMB 6.5924 USD 1.00=RMB 6.7423 Translation from HKD to USD found place at the following rates: Period end rates Average rates December 31, 2015 USD 1.00= HKD 7.7508 USD 1.00=HKD 7.7517 December 31, 2016 USD 1.00= HKD 7.7552 USD 1.00=HKD 7.7614 December 31, 2017 USD 1.00= HKD 7.8170 USD 1.00=HKD 7.7928 The results and financial positions in functional currency are translated into the presentation currency, USD, of the Company as follows: (1) Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; (2) Income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); (3) Share equity, share premium and dividends are translated at historical exchange rates; and (4) All resulting exchange differences are recognized in foreign currency translation reserve, a separate component of equity. All financial information presented in USD has been rounded to the nearest dollar, except when otherwise indicated.
Segment reporting	Segment reporting Operating segments, and the amounts of each segment item reported in the financial statements, are identified from the financial information provided regularly to the Group’s most senior executive management for the purposes of allocating resources to, and assessing the performance of, the Group’s various lines of business and geographical locations. Individually material operating segments are not aggregated for financial reporting purposes unless the segments have similar economic characteristics and are similar in respect of the nature of products and services, the nature of production processes, the type or class of customers, the methods used to distribute the products or provide the services, and the nature of the regulatory environment. Operating segments which are not individually material may be aggregated if they share a majority of these criteria. The Group’s three segments are wholesale, retail and contract manufacturing.
Revenue recognition	Revenue recognition Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods sold in the normal course of business, net of discounts and sales related taxes. The Group’s revenue originates (i) from corporate owned stores, (ii) distributors and (iii) the services performed as an original design manufacturer. Revenue from all above categories is recognized when all the following conditions are satisfied: ● the Group has transferred to the buyer the significant risks and rewards of ownership of the goods; ● the Group has fully rendered service to the contract manufacturing customer by shipping the product to the customer; ● the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ● the amount of revenue can be measured reliably; ● it is probable that the economic benefits associated with the transaction will flow to the Group; and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from sale of goods is recognized when the goods are delivered and title has passed.
Value added tax (VAT)	Value added tax (VAT) Output VAT is 17% of product sales and taxable services revenue, according to tax laws. The remaining balance of output VAT, after subtracting the deductible input VAT of the period, is VAT payable.
Borrowing costs	Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognized in profit or loss in the period in which they are incurred.
Retirement benefit costs	Retirement benefit costs Pursuant to the relevant regulations of the PRC government, the Group’s subsidiaries located in the PRC participate in a local municipal government retirement benefits scheme (the “Scheme”), whereby they contribute a prescribed percentage of the basic salaries of their employees to the Scheme to fund their retirement benefits. Once the Scheme has been funded via contributions by the Group’s participating subsidiaries, the local municipal government takes responsibility for the retirement benefits obligations of all existing and future retired employees of those subsidiaries located in the PRC; accordingly, the only obligation of the Group with respect to the Scheme is to pay the on-going required contributions as long as the employees maintain employment with the Group. There are no provisions under the Scheme whereby forfeited contributions may be used to reduce future contributions. These plans are considered defined contribution plans. The Group has no legal or constructive obligations to pay further contributions after its payment of the fixed contributions into the pension schemes. Contributions to pension schemes are recognized as an expense in the period in which the related service is performed.
Taxation	Taxation The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case the tax is also recognised in other comprehensive income or directly in equity, respectively. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from goodwill or from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments are only recognized to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.
Store pre-opening cost	Store pre-opening cost Store pre-opening cost was the start-up activity costs incurred prior to opening a new store, mainly including leasing, leasehold improvements, payroll and supplies. The accounting policies for leasing and leasehold improvements were as below. Other store pre-opening costs were directly charged to expenses when occurred.
Leasing	Leasing Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.
Leasehold improvements	Leasehold improvements Leasehold improvements, principally comprising costs of office buildings and shops renovation, are held for administrative and selling purposes. Leasehold improvements are initially measured at cost and amortized systematically over its useful life.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment (“PPE”) including buildings held for use in the production or supply of goods or services, or for administrative purposes other than construction in progress are stated at cost less subsequent accumulated depreciation and accumulated impairment losses. Depreciation is provided to write off the cost of items of property, plant and equipment other than construction in progress over their estimated useful lives and after taking into account of their estimated residual value, using the straight-line method. Construction in progress includes property, plant and equipment in the course of construction for production or for its own use purposes. Construction in progress is carried at cost less any recognized impairment loss. Construction in progress is classified to the appropriate category of property, plant and equipment when completed and ready for intended use. Depreciation of these assets, on the same basis as other property assets, commences when the assets are ready for their intended use. An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the item) is included in profit or loss in the period in which the item is de-recognized.
The Group as lessor	The Group as lessor Rental income from operating leases is recognized in profit or loss on a straight-line basis over the term of the relevant lease.
Land use rights	Land use rights Land use rights are stated at cost less accumulated amortization and accumulated impairment losses. Cost represents consideration paid for the rights to use the land on which various plants and buildings are situated for periods varying from 20 to 50 years. Amortization of land use rights is calculated on a straight-line basis over the period of the land use rights.
Inventories	Inventories Inventories are stated at the lower of cost and net realizable value. Costs of inventories are determined using the weighted average method. Net realizable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale.
Financial instruments	Financial instruments Financial assets and financial liabilities are recognized on the consolidated statements of financial position when a group entity becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. (1) Financial assets The Group’s financial assets are classified as receivables. Effective interest method The effective interest method is a method of calculating the amortized cost of a financial asset and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial asset, or, where appropriate, a shorter period to the net carrying amount on initial recognition. Interest income is recognized on an effective interest basis for debt instruments. Receivables Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Receivables (including trade and other receivables, related parties receivables, and cash and cash equivalents) are measured at amortized cost using the effective interest method, less any impairment (see accounting policy on impairment loss on receivables below).   Impairments of receivables Receivables are assessed for indicators of impairment at the end of the reporting period. Receivables are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the receivables, the estimated future cash flows of the receivables have been affected. Objective evidence of impairment could include: ● significant financial difficulty of the issuer or counterparty; ● default or delinquency in interest or principal payments; ● it becoming probable that the borrower will enter bankruptcy or financial reorganization. For certain categories of financial asset, such as trade and other receivables, assets that are assessed not to be impaired individually are subsequently assessed for impairment on a collective basis. Objective evidence of impairment for a portfolio of receivables could include the Group’s past experience of collecting payments, and increase in the number of delayed payments in the portfolio past the average credit period, observable changes in national or local economic conditions that correlate with default on receivables. An impairment loss is recognized in profit or loss when there is objective evidence that the asset is impaired, and is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the original effective interest rate. The carrying amount of the receivables is reduced by the impairment loss directly for all financial assets with exception of trade and other receivables, where the carrying amount is reduced through the use of an allowance account. Changes in carrying amount of the allowance account are recognized in profit or loss. When a trade and other receivable are considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited to profit or loss. If, in a subsequent period, the amount of impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment losses was recognized, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the asset at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other financial institutions, and short-term, highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value, having been within three months of maturity at acquisition (2) Financial liabilities and equity Financial liabilities and equity instruments issued by a group entity are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Effective interest method The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period to the net carrying amount on initial recognition. Interest expense is recognized on an effective interest basis. Financial liabilities Financial liabilities including trade and other payables, related parties payables and short-term loans are subsequently measured at amortized cost, using the effective interest method. Equity instruments Equity instruments issued by the group entities are recorded at the proceeds received, net of direct issue costs. (3) De-recognition Financial assets are derecognized when the rights to receive cash flows from the assets expire or, the financial assets are transferred and the Group has transferred substantially all the risks and rewards of ownership of the financial assets. On de-recognition of a financial asset, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. Financial liabilities are derecognized when the obligation specified in the relevant contract is discharged, cancelled or expires. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss.
Subsidies prepaid to distributors	Subsidies prepaid to distributors Subsidies were paid to major distributors for compensating their rental expenses. Such subsidies would vest to distributors when they met the sales targets predetermined by the Company. Subsidies prepaid to distributors were recognized when payments were made and amortized over the agreement term on a straight-line basis in selling expenses.
Capital and Reserves	Capital and Reserves Share capital represents the nominal value of shares that have been issued by the Group. Share capital is determined using the nominal value of shares that have been issued. Retained profits include all current and prior period results as determined in the combined statement of comprehensive income. Foreign currency translation reserve arising on the translation are included in the currency translation reserve. In accordance with the relevant laws and regulations of PRC, the subsidiaries of the Group established in PRC are required to transfer 10% of its annual statutory net profit (after offsetting any prior years’ losses) to the statutory reserve. When the balance of such reserve reaches 50% of the subsidiary’s share capital, any further transfer of its annual statutory net profit is optional. Such reserve may be used to offset accumulated losses or to increase the registered capital of the subsidiary subject to the approval of the relevant authorities. However, except for offsetting prior years’ losses, such statutory reserve must be maintained at a minimum of 25% of the share capital after such usage. The statutory reserves are not available for dividend distribution to the shareholders. All transactions with owners of the Group are recorded separately within equity.
Earnings/(loss) per share	Earnings/(loss) per share Basic earnings per share (“EPS”) are computed by dividing income attributable to holders of common shares by the weighted average number of common shares outstanding during the year. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares. Potential dilutive securities are excluded from the calculation of diluted EPS in loss periods as their effect would be anti-dilutive. The preparation of financial statements in conformity with IFRS requires management to exercise judgment in the process of applying the Group’s accounting policies and requires the use of accounting estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of financial statements and reported amount of revenue and expenses during the reporting period. The following estimates that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are disclosed below.

Signifcant Accounting Policie44

Signifcant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Signifcant Accounting Policies [Abstract]
Schedule of functional currency	Translation from RMB to USD found place at the following rates: Period end rates Average rates December 31, 2015 USD 1.00= RMB 6.4936 USD 1.00=RMB 6.2401 December 31, 2016 USD 1.00= RMB 6.9370 USD 1.00=RMB 6.6528 December 31, 2017 USD 1.00= RMB 6.5924 USD 1.00=RMB 6.7423 Translation from HKD to USD found place at the following rates: Period end rates Average rates December 31, 2015 USD 1.00= HKD 7.7508 USD 1.00=HKD 7.7517 December 31, 2016 USD 1.00= HKD 7.7552 USD 1.00=HKD 7.7614 December 31, 2017 USD 1.00= HKD 7.8170 USD 1.00=HKD 7.7928

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Schedule of operating segments gross margins	By business Wholesale Retail Subcontracting Consolidated For the year ended For the year ended For the year ended For the year ended 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 Sales to external customers 15,034,800 32,127,083 40,815,528 6,983,592 5,529,985 18,091,585 1,744,144 3,543,137 2,436,568 23,762,536 41,200,205 61,343,681 Segment revenue 15,034,800 32,127,083 40,815,528 6,983,592 5,529,985 18,091,585 1,744,144 3,543,137 2,436,568 23,762,536 41,200,205 61,343,681 Segment gross margins/(loss) 2,277,858 6,504,893 9,668,518 (14,291,680 ) (5,668,061 ) 4,239,168 502,007 1,321,441 924,721 (11,511,815 ) 2,158,273 14,832,407 Reconciling items (7,901,842 ) (17,787,093 ) (12,983,048 ) Profit/(loss) before tax (19,413,657 ) (15,628,820 ) 1,849,359 Income tax income/(expense) 4,598,061 3,726,133 (605,689 ) Profit/(loss) for the year (14,815,596 ) (11,902,687 ) 1,243,670
Schedule of assets and liabilities	As of December 31, 2017 Wholesale and Retail Subcontracting Unallocated Consolidated Current assets 34,036,883 6,284,118 22,384 40,343,385 Non-current assets 8,987,857 31,978,462 - 40,966,319 Total assets 43,024,740 38,262,580 22,384 81,309,704 Current liabilities 3,722,277 1,995,164 1,565,068 7,282,509 Total liabilities 3,722,277 1,995,164 1,565,068 7,282,509 As of December 31, 2016 Wholesale and Retail Subcontracting Unallocated Consolidated Current assets 50,272,887 6,048,538 22,398 56,343,823 Non-current assets 4,354,540 30,400,401 - 34,754,941 Total assets 54,627,427 36,448,939 22,398 91,098,764 Current liabilities 3,342,199 1,793,351 2,561,089 7,696,639 Total liabilities 3,342,199 1,793,351 2,561,089 7,696,639
Schedule of major distributors revenue	Year ended December 31, 2017 2016 2015 Distributor A 1,454,862 3,782,718 6,625,797 Other distributors 13,579,938 28,344,365 34,189,731 15,034,800 32,127,083 40,815,528
Schedule of major suppliers purchases	Year ended December 31, 2017 2016 2015 Supplier A 2,403,309 6,655,740 15,048,108 Supplier B 1,714,468 5,424,342 8,354,316 Supplier C 1,684,743 4,083,924 6,588,639 Supplier D 1,530,429 3,023,297 5,294,921 Other suppliers 5,065,563 6,436,809 12,752,234 12,398,512 25,624,112 48,038,218

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2017
Revenue [Abstract]
Schedule of information of revenue	Year ended December 31, 2017 2016 2015 Apparel -Wholesale 15,034,800 32,127,083 40,815,527 -Retail 6,983,592 5,529,985 18,112,019 Subtotal 22,018,392 37,657,068 58,927,546 Subcontracting 1,744,144 3,543,137 2,416,135 23,762,536 41,200,205 61,343,681

Cost of Sales (Tables)

Cost of Sales (Tables)	12 Months Ended
	Dec. 31, 2017
Cost of Sales [Abstract]
Schedule of cost of sales	Year ended December 31, 2017 2016 2015 Changes in inventories of finished goods and work in progress 227,132 (302,979 ) 64,814 Materials consumed in production 41,057 120,847 183,831 Purchases of finished goods 33,877,598 36,567,197 44,786,912 Labor 602,196 1,313,120 787,472 Depreciation 370,858 236,578 252,055 Rental - - 23,184 Outsourced manufacturing cost - - - Taxes and surcharges * 157,314 253,039 212,516 Water and electricity 52,796 48,557 55,522 Inventory provision 8 320 342 Others 120,886 238,562 197,778 Foreign currency translation difference (175,493 ) 566,691 (53,152 ) 35,274,352 39,041,932 46,511,274 * Tax and surcharges are mainly Urban Maintenance and Construction Tax (7% of Valued Added Tax payment amount), Extra Charges of Education Fund (3% of Valued Added Tax payment amount) and Local Surcharge for Education Fund (2% of Valued Added Tax payment amount).

Other Income (Tables)

Other Income (Tables)	12 Months Ended
	Dec. 31, 2017
Other Income [Abstract]
Schedule of other income	Year ended December 31, 2017 2016 2015 Government grant 367,260 469,569 209,397 Interest income on bank deposits 81,517 85,482 92,747 Others 12,787 - - 461,564 555,051 302,144

Other Gains and (Losses) (Table

Other Gains and (Losses) (Tables)	12 Months Ended
	Dec. 31, 2017
Other Gains and (Losses) [Abstract]
Schedule of other gains and (losses)	Year ended December 31, 2017 2016 2015 Gain on disposals of property, plant and equipment 171 10,541 11,412 Foreign exchange gain (48 ) 54 (233,532 ) Provision / reversal of inventory obsolescence (101,256 ) (1,667 ) (342 ) Bad debt provision of trade receivables - (331,196 ) (1,070,563 ) Impairment of prepayments in land purchase and related construction - (11,649,038 ) (2,565,334 ) Others (21,110 ) 847,539 (19,473 ) (122,243 ) (11,123,767 ) (3,877,832 )

Distribution and Selling Expe50

Distribution and Selling Expenses (Tables)	12 Months Ended
	Dec. 31, 2017
Distribution and Selling Expenses [Abstract]
Schedule of distribution and selling expense	Year ended December 31, 2017 2016 2015 Rental 21,527 30,225 508,039 Depreciation 2,680 490,527 1,239,644 Labor 258,233 211,274 739,789 Subsidy to distributors 773,238 910,537 1,061,685 Promotion 32,216 137,210 899,664 Advertisement 1,591,742 1,554,023 1,702,863 Others 585,744 272,214 469,572 3,265,380 3,606,010 6,621,256

Administrative Expense (Tables)

Administrative Expense (Tables)	12 Months Ended
	Dec. 31, 2017
Administrative Expense [Abstract]
Schedule of administrative expense	Year ended December 31, 2017 2016 2015 Labor 1,600,380 1,170,013 757,639 Audit fee 216,281 (33,997 ) 175,859 Professional fee 77,754 75,609 136,499 Design fee 937,478 465,120 529,141 Depreciation and amortization charges 1,149,455 1,163,293 540,799 Bank charges 18,352 12,943 35,179 Rental 74,668 75,673 80,677 Travelling and entertainment 107,566 44,874 59,516 Others 697,463 570,465 482,774 4,879,397 3,543,993 2,798,083

Finance Costs (Tables)

Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2017
Finance Costs [Abstract]
Schedule of finance costs	Year ended December 31, 2017 2016 2015 Interest expenses on bank borrowings wholly repayable within one year 96,385 71,783 -

Income Tax (Income)_ Expense (T

Income Tax (Income)/ Expense (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax (Income)/ Expense [Abstract]
Summary of income tax (Income)/Expense	Year ended December 31, 2017 2016 2015 PRC enterprises income tax: Current tax - 53,790 1,514,577 Deferred tax (4,598,061 ) (3,779,923 ) (908,888 ) - (3,726,133 ) 605,689
Summary of tax charge	Year ended December 31, 2017 2016 2015 (Loss)/profit before tax (19,413,657 ) (15,628,820 ) 1,849,359 Tax calculated at domestic tax rates applicable to profits in PRC (2017, 2016, and 2017: 25%) (4,853,414 ) (3,907,205 ) 462,340 Tax effect of expenses not deductible for tax purpose - - 908,974 Tax effect of tax loss of tax exempt entities 255,354 181,072 (765,625 ) Tax charge for the year (4,598,061 ) (3,726,133 ) 605,689
Summary of deferred tax balances	2017 2016 2015 Temporary Deferred Temporary Deferred Temporary Deferred Beginning of the year 20,737,366 4,879,652 5,617,674 1,340,268 1,981,777 495,444 Bad Debt provisions charged to profit or loss - - 331,196 82,799 1,070,563 267,641 Impairment charged to profit or loss 101,256 25,314 11,649,038 2,912,259 2,565,334 641,333 Tax loss carried forward 17,922,508 4,480,627 3,139,458 784,865 Effect of translation - 539,351 - (240,539 ) - (64,150 ) End of the year 38,761,130 9,924,944 20,737,366 4,879,652 5,617,674 1,340,268

Profit for the Year (Tables)

Profit for the Year (Tables)	12 Months Ended
	Dec. 31, 2017
Profit for the Year [Abstract]
Schedule of profit for the year	Year ended December 31, 2017 2016 2015 Cost of inventories recognized as expenses 35,094,050 38,788,893 46,298,758 Taxes and surcharges 180,302 253,039 212,516 35,274,352 39,041,932 46,511,274 Depreciation of property, plant and equipment 1,137,831 1,944,176 2,015,437 Amortization of land use rights and trademarks 14,307 19,009 17,061 Amortization of subsidies prepaid to distributors 401,259 910,537 1,093,036 Amortization of prepayments and premiums under operating leases 105,340 118,783 728,996 Provision (Reversal) of inventory obsolescence 101,256 (1,667 ) 342 Provision of bad debt allowance - 331,196 1,028,439 Provision of impairment loss in prepayments - 11,649,038 2,565,334 1,759,993 14,971,072 7,448,645

Employees' Emoluments (Tables)

Employees' Emoluments (Tables)	12 Months Ended
	Dec. 31, 2017
Employees' Emoluments [Abstract]
Schedule of employees' emoluments	Year ended December 31, 2017 2016 2015 Salaries and other short-term benefits 2,476,506 1,369,524 1,878,963 Defined contribution benefit schemes 189,621 280,594 1,888,828 Total employee benefits expense (including directors’ emoluments) 2,666,127 1,650,118 3,767,791

Directors' Emoluments (Tables)

Directors' Emoluments (Tables)	12 Months Ended
	Dec. 31, 2017
Directors' Emoluments [Abstract]
Schedule of directors' emoluments	Year ended December 31, 2017 2016 2015 Salaries Yan Keyan 304,050 216,342 105,000 Lixia Tu 235,854 203,559 62,371 John Sano 43,950 39,000 20,000 Themis Kalapotharakos 87,900 97,500 - Matthew Los 87,900 97,500 - Zhongmin Zhang 43,950 - - Yuet Mei Chan 43,950 - - 847,554 749,173 292,371 Social Welfare Yan Keyan 1,006 960 982 1,006 960 982

Earnings_ (Loss) Per Share (Tab

Earnings/ (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings/ (Loss) Per Share [Abstract]
Schedule of earnings/ (loss) per share	For the years ended December 31, 2017 2016 2015 Basic (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (14,815,596 ) $ (11,902,687 ) $ 1,243,670 Diluted (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (14,815,596 ) $ (11,902,687 ) $ 1,243,670 Basic (Loss)/Earnings Per Share Denominator # Original shares: 1,767,821 1,694,489 1,694,489 Additions from actual events: - Issuance of common stock, weighted 93,010 55,653 - Basic weighted average shares outstanding 1,860,831 1,750,142 1,694,489 Diluted (Loss)/Earnings Per Share Denominator # Basic weighted average shares outstanding 1,860,831 1,750,142 1,694,489 Dilutive shares: Potential additions from dilutive events: - Exercise of investor warrants* - - - Diluted Weighted Average Shares Outstanding: 1,860,831 1,750,142 1,694,489 (Loss)/Earnings Per Share # - Basic $ (7.96 ) $ (6.80 ) $ 0.73 - Diluted $ (7.96 ) $ (6.80 ) $ 0.73 Weighted Average Shares Outstanding # - Basic 1,860,831 1,750,142 1,694,489 - Diluted 1,860,831 1,750,142 1,694,489 * There were no potential dilutive additions to diluted weighted shares outstanding as a result of the outstanding warrants being out-of-the-money during the periods presented. # The amount of shares and the respective calculations of earnings/(loss) per share have been adjusted according to reverse split effective during the year.

Properties. Plant and Equipme58

Properties. Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Properties. Plant and Equipment [Abstract]
Schedule of properties. plant and equipment	Plant Machinery Office equipment Motor vehicles Furniture and fixtures Leasehold improvements-factories and offices Leasehold improvements-shops Distributor shops’ furniture and fixtures Total COST At January 1, 2016 30,479,750 1,040,458 130,975 130,681 156,349 750,464 3,920,325 3,203,483 39,812,485 Additions - 27,637 14,495 - 317 141,271 - - 183,720 Disposals - (142,425 ) (2,397 ) - (699 ) - (3,416,591 ) (2,998,722 ) (6,560,834 ) Translation adjustment (1,948,208 ) (66,504 ) (8,372 ) (8,353 ) (9,994 ) (47,968 ) (250,580 ) (204,761 ) (2,544,740 ) At December 31, 2016 28,531,542 859,166 134,701 122,328 145,973 843,767 253,154 - 30,890,631 Additions 965,792 15,893 - - - - - - 981,685 Disposals - - (12,490 ) (43,215 ) (1,836 ) - - - (57,541 ) Translation adjustment 1,758,824 52,963 8,304 7,541 8,999 52,014 15,606 - 1,904,251 At December 31, 2017 31,256,158 928,022 130,515 86,654 153,136 895,781 268,760 - 33,719,026 DEPRECIATION At January 1, 2016 (1,199,268 ) (765,500 ) (75,573 ) (111,127 ) (134,786 ) (358,958 ) (3,920,325 ) (2,710,227 ) (9,275,764 ) Provided for the year (1,283,919 ) (69,007 ) (20,528 ) (5,867 ) (10,812 ) (99,622 ) - (374,763 ) (1,864,518 ) Eliminated upon disposal of assets - 85,455 1,351 - 357 - 3,416,591 2,911,757 6,415,511 Translation adjustment 76,655 48,929 4,830 7,103 8,615 22,944 250,580 173,233 592,889 At December 31, 2016 (2,406,532 ) (700,123 ) (89,920 ) (109,891 ) (136,626 ) (435,636 ) (253,154 ) - (4,131,882 ) Provided for the year (1,377,553 ) (48,120 ) (14,495 ) (174 ) (3,202 ) (114,764 ) - - (1,558,308 ) Eliminated upon disposal of assets - - 10,071 38,893 1,432 - - - 50,396 Translation adjustment (148,350 ) (43,159 ) (5,543 ) (6,774 ) (8,422 ) (26,855 ) (15,606 ) - (254,709 ) At December 31, 2017 (3,932,435 ) (791,402 ) (99,887 ) (77,946 ) (146,818 ) (577,255 ) (268,760 ) - (5,894,503 ) CARRYING AMOUNT At December 31, 2016 26,125,010 159,043 44,781 12,437 9,347 408,131 - - 26,758,749 At December 31, 2017 27,323,723 136,620 30,628 8,708 6,318 318,526 - - 27,824,523
Schedule of straight-line basis for all property, plant and equipment over estimated useful lives	Useful life Residual Value Plant 20 years 10 % Machinery 5 years 10 % Office equipment 5 years 10 % Motor vehicles 5 years 10 % Furniture and fixtures 5 years 10 % Leasehold improvements-factories and offices Shorter of estimated useful life of 5 years or lease term 10 % Leasehold improvements-shops Shorter of estimated useful life of 5 years or lease term Nil Distributor shops’ furniture and fixtures 1.5 years Nil
Schedule of plant includes buildings owned by Anhui Kaixin built on the following land	Location Description Gross area (m 2 Jinxi Town, Longshan Road, Taihu City, Anhui Province, the PRC Dormitory 8,573 Jinxi Town, Longshan Road, Taihu City, Anhui Province, the PRC Factory 22,292
Schedule of carrying amount recognized assets carried under cost model	As at December 31, 2017 2016 Machinery 95,826 141,075 Motor Vehicles 35 33 Office Equipment 2,661 3,202 Furniture and fixtures 739 1,844 99,261 146,154

Prepayments and Premiums Unde59

Prepayments and Premiums Under Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2017
Prepayments and Premiums Under Operating Leases [Abstract]
Schedule of prepayments and premiums under operating leases	Amount At January 1, 2016 2,820,458 additions for the year 38,300 charge for the year (118,783 ) translation adjustment (169,293 ) At December 31, 2016 2,570,682 additions for the year 30,672 charge for the year (105,340 ) translation adjustment 156,092 At December 31, 2017 2,652,106
Schedule of prepayment and premium under operating lease analyzed for reporting	As at December 31, 2017 2016 Current asset 83,907 79,035 Non-current asset 2,568,199 2,491,647 2,652,106 2,570,682

Prepayment for Construction o60

Prepayment for Construction of New Plant (Tables)	12 Months Ended
	Dec. 31, 2017
Prepayment For Construction Of New Plant [Abstract]
Schedule of carrying amount of the prepayment for construction of new plant	As at Prepaid in 2015 8,469,878 Recognized as construction in progress (110,041 ) 8,359,837 Impairment loss in 2015: (1,199,314 ) 7,160,523 Impairment loss in 2016: (6,989,200 ) Translation adjustment: (171,323 ) -

Prepayment for Acquisition of61

Prepayment for Acquisition of Land Use Right (Tables)	12 Months Ended
	Dec. 31, 2017
Prepayment for Acquisition of Land Use Right [Abstract]
Schedule of prepayment for acquisition of land use right	As at Prepaid in 2010 6,039,930 Impairment loss: (1,265,867 ) 4,774,063 Impairment loss in 2016: (4,659,838 ) Translation adjustment: (114,225 ) -

Land Use Rights (Tables)

Land Use Rights (Tables)	12 Months Ended
	Dec. 31, 2017
Land Use Rights [Abstract]
Schedule of land use right	Amount COST At January 1, 2016 769,643 additions for the year - translation adjustment (78,025 ) At December 31, 2016 691,618 additions for the year - translation adjustment 42,635 At December 31, 2017 734,253 AMORTIZATION At January 1, 2016 (82,605 ) charge for the year (19,009 ) translation adjustment 34,890 At December 31, 2016 (66,724 ) charge for the year (14,307 ) translation adjustment (4,569 ) At December 31, 2017 (85,600 ) CARRYING AMOUNTS At December 31, 2016 624,894 At December 31, 2017 648,653
Schedule of location	Location Expiry date of tenure Land area (m 2 Longshan Road, Economic development District, Taihu County 2062-05-23 2,440 Longshan Road, Economic development District, Taihu County 2061-11-06 7,405

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2017
Inventories [Abstract]
Schedule of Inventories	As at December 31, 2017 2016 Raw materials 1,186,467 1,985,131 Finished goods 726,373 467,757 Provision for obsolete inventories (106,628 ) (2,022 ) 1,806,212 2,450,866

Trade Receivables, Other Rece64

Trade Receivables, Other Receivables and Prepayments (Tables)	12 Months Ended
	Dec. 31, 2017
Trade Receivables, Other Receivables and Prepayments [Abstract]
Schedule of trade receivables	As at December 31, 2017 2016 Trade receivables 11,860,798 24,763,795 Bad debt provision for trade receivables (1,359,255 ) (1,280,330 ) 10,501,543 23,483,465
Schedule of other receivables	As at December 31, 2017 2016 Other receivables 2,849 2,251 Prepayments 1,898,419 5,361,869 1,901,268 5,364,120
Schedule of aging analysis of trade receivables	As at December 31, 2017 2016 Current 1,791,936 1,496,397 Past due for less than 4 months 2,721,633 9,306,568 Past due for more than 4 months 7,347,229 13,960,830 11,860,798 24,763,795
Schedule of provision for doubtful debts	2017 2016 As at Janaury 1 1,280,330 1,028,439 Provision provided in the year - 331,196 Translation adjustment 78,925 (79,305 ) As at December 31 1,359,255 1,280,330

Subsidies Prepaid to Distribu65

Subsidies Prepaid to Distributors (Tables)	12 Months Ended
	Dec. 31, 2017
Subsidies Prepaid to Distributors [Abstract]
Schedule of subsidies prepaid to distributors	Amount At January 1, 2016 516,231 additions for the year 779,991 charge for the year (873,231 ) translation adjustment (32,995 ) At December 31, 2016 389,996 additions for the year - charge for the year (389,996 ) translation adjustment - At December 31, 2017 -

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	12 Months Ended
	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Schedule of cash and cash equivalents	As at December 31, 2017 2016 Cash on hand 16,413 15,066 Bank deposits 26,034,043 24,561,275 26,050,456 24,576,341 As at December 31, 2017 2016 Renminbi 26,040,572 24,566,443 Hong Kong Dollars 8,914 8,921 United States Dollars 970 977 26,050,456 24,576,341

Trade and Other Payables (Table

Trade and Other Payables (Tables)	12 Months Ended
	Dec. 31, 2017
Trade and Other Payables [Abstract]
Schedule of trade and other payables	As at December 31, 2017 2016 Trade payables 104,258 78,994 Employee benefits payable 226,210 207,671 Other payables 1,648,060 1,531,532 Subtotal financial liabilities 1,978,528 1,818,197 Other taxes payable 3,473,302 2,956,431 5,451,830 4,774,628
Schedule of aging analysis of trade payables	As at December 31, 2017 2016 Current 23,587 31,083 Past due for less than 4 months 57,637 16,211 Past due for over 4 months 23,034 31,700 104,258 78,994

Related Parties Payable (Tables

Related Parties Payable (Tables)	12 Months Ended
	Dec. 31, 2017
Related Parties Payable [abstract]
Nature of relationship with related parties	Name Relationship with the Group Yan, Keyan Chairman, Director, and CEO Chen, Bizhen Wife of Yan, Keyan KBS International Ex-shareholder of Hongri Shishi City Lingxiu Hongri Knitwear Factory Company owned by Chen, Bizhen
Significant balances between group and related parties	As at December 31, Name Nature 2017 2016 Yan, Keyan Borrowing of funds 154,137 1,125.912 Chen, Bizhen Borrowing of funds - 24,416 154,137 1,150,328

Short-Term Bank Loans (Tables)

Short-Term Bank Loans (Tables)	12 Months Ended
	Dec. 31, 2017
Short-Term Bank Loans [Abstract]
Components of short-term bank loans	As at December 31, 2017 2016 Secured bank borrowings 1,606,930 1,513,623 Carrying amount repayable within 1 year 1,606,930 1,513,623
Schedule of borrowings fixed-rate and denominated in RMB	Bank loans Amount Period Interest rate Mortgage Personal guarantee #1 459,123 4/6/2017 4/5/2018 6.09 % Land use right and buildings Yan, Keyan/ #2 1,147,807 3/24/2017 3/21/2018 6.09 % Land use right and buildings Yan, Keyan/ 1,606,930

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Warrant Liabilities [Abstract]
Schedule of liabilities measured using fair significant unobservable inputs	Balance – January 26, 2012 (inception) - Correction of an error 3,200,223 Issuance of warrants as part of Units on November 7, 2012 322,884 Change in fair value (45,225 ) Balance – December 31, 2012 3,477,882 Change in fair value (45,442 ) Balance – December 31, 2013 3,432,440 Change in fair value (3,417,053 ) Balance – December 31, 2014 15,387 Change in fair value (11,978 ) Balance – December 31, 2015 3,409 Change in fair value (3,409 ) Balance – December 31, 2016 - Change in fair value - Balance – December 31, 2017 -
Schedule of inputs to the model	December 31. December 31, Stock price $ 4.14 $ 0.28 Dividend yield N/A N/A Risk-free rate 1.89 % 1.28 % Expected term (in years) 1.58 2.58 Expected volatility 22.3 % 23.6 %

Share Capital and Share Premi71

Share Capital and Share Premium (Tables)	12 Months Ended
	Dec. 31, 2017
Share Capital and Share Premium [Abstract]
Schedule of details share capital and share premium	Number of shares Share capital Share premium Shares outstanding as December 31, 2016 1,767,821 $ 177 $ 6,056,240 Issuance of shares 218,478 21 629,930 Shares outstanding as December 31, 2017 1,986,299 $ 198 $ 6,686,170 Number of shares Share capital Share premium Authorized Common shares of US$0.0001 as at December 31, 2017 150,000,000 $ 15,000 $ - Issue and fully paid common shares of US$0.0001 as at December 31, 2016, retroactively adjusted 1,767,821 $ 177 $ 6,056,240 Issue and fully paid common shares of US$0.0001 as at December 31, 2017 1,986,299 $ 198 $ 6,686,170

Risk Management and Fair Valu72

Risk Management and Fair Values (Tables)	12 Months Ended
	Dec. 31, 2017
Risk Management and Fair Values [Abstract]
Schedule of capital risk	December 31, December 31, Total borrowing 1,609,930 1,513,623 Less: cash and cash equivalents (26,050,456 ) (24,576,341 ) Net debt (24,443,526 ) (23,062,718 ) Total equity 74,027,196 83,402,126 Total capital 49,583,670 60,339,408 Gearing ratio (33 )% (28 )%
Schedule of liquidity risk	As at December 31, 2017 Within 1 year Over 1 year Total Short-term bank loans and related interests 1,606,930 - 1,606,930 Trade and other payables 5,451,830 - 5,521,442 Related parties payables 154,137 - 154,137 Income tax payable - - - Total 7,212,897 - 7,282,509 As at December 31, 2016 Within 1 year Over 1 year Total Short-term bank loans and related interests 1,535,053 - 1,535,053 Trade and other payables 4,774,628 - 4,774,628 Related parties payables 1,150,129 - 1,150,129 Income tax payable 258,259 - 258,259 Total 7,718,069 - 7,718,069
Schedule of recurring fair value measurements	December 31, December 31, Recurring far value measurements Liabilities: Warrant liabilities - - - -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies [Abstract]
Schedule of capital commitments	As at As at Contracted and authorized, in RMB 439,850,378 439,850,378 Contracted and authorized, in USD 67,315,108 63,406,426
Schedule of lease commitments	As at December 31, 2017 2016 Within 1 year 101,660 79,035 2-5 years 231,138 290,289 Thereafter 2,337,061 2,237,645 2,669,859 2,606,969 As at December 31, 2017 2016 Within 1 year 77,046 72,252 2-5 years 231,138 290,289 Thereafter 2,337,061 2,237,645 2,645,245 2,600,506

General Information (Details)

General Information (Details)	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Sep. 30, 2011shares	Mar. 24, 2011USD ($)	Mar. 24, 2011CNY (¥)	Mar. 16, 2011USD ($)	Jan. 27, 2011$ / sharesshares	Dec. 31, 2010shares	Nov. 25, 2010HKD ($)$ / sharesshares	Jul. 08, 2008USD ($)$ / sharesshares	Mar. 28, 2006USD ($)$ / sharesshares	Nov. 17, 2005CNY (¥)	Sep. 21, 2005HKD ($)$ / sharesshares
General Information (Textual)
Common unit issuance of authorized value									$ 10,000	$ 50,000	$ 50,000	¥ 5,000,000	$ 10,000
Number of shares authorised	150,000,000								10,000	50,000	50,000		10,000
Par value per share | (per share)							$ 77		$ 1	$ 1	$ 1		$ 1
Number of shares issued			39,551,860					10,000
Issued on additional shares							10,000
Share capital | $	$ 198	$ 177
Increased registered capital				$ 70,000,000	¥ 75,000,000
Registered and paid up capital | $						$ 1,000,000

Application of New and Revise75

Application of New and Revised International Financial Reporting Standards ("IFRS") (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Application of new and revised international financial reporting standards ("IFRS") (Textual)
Operating lease payments	$ 2,669,859	$ 2,606,969

Signifcant Accounting Policie76

Signifcant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
RMB to USD [Member]
Significant Accpunting Policies [Line Items]
Functional currency period end rates	USD 1.00= RMB 6.5924	USD 1.00= RMB 6.9370	USD 1.00= RMB 6.4936
Functional currency average rates	USD 1.00=RMB 6.7423	USD 1.00=RMB 6.6528	USD 1.00=RMB 6.2401
HKD to USD [Member]
Significant Accpunting Policies [Line Items]
Functional currency period end rates	USD 1.00= HKD 7.8170	USD 1.00= HKD 7.7552	USD 1.00= HKD 7.7508
Functional currency average rates	USD 1.00=HKD 7.7928	USD 1.00=HKD 7.7614	USD 1.00=HKD 7.7517

Signifcant Accounting Policie77

Signifcant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2017
Significant Accounting Policies (Textual)
Value added tax rate	17.00%
Land use rights, description	Land use rights are stated at cost less accumulated amortization and accumulated impairment losses. Cost represents consideration paid for the rights to use the land on which various plants and buildings are situated for periods varying from 20 to 50 years.
Currency translation reserve, description	In accordance with the relevant laws and regulations of PRC, the subsidiaries of the Group established in PRC are required to transfer 10% of its annual statutory net profit (after offsetting any prior years' losses) to the statutory reserve. When the balance of such reserve reaches 50% of the subsidiary's share capital, any further transfer of its annual statutory net profit is optional. Such reserve may be used to offset accumulated losses or to increase the registered capital of the subsidiary subject to the approval of the relevant authorities. However, except for offsetting prior years' losses, such statutory reserve must be maintained at a minimum of 25% of the share capital after such usage. The statutory reserves are not available for dividend distribution to the shareholders.

Significant Management Judgem78

Significant Management Judgement in Applying Accounting Policies (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Significant Management Judgement in Applying Accounting Policies (Textual)
Income tax payable		$ 258,259

Key Sources of Estimation Unc79

Key Sources of Estimation Uncertainty (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Key Sources of Estimation Uncertainty (Textual)
Buildings, machinery and equipment estimated useful lives	5 to 20 years
Level 2 of fair value hierarchy [member]
Key Sources of Estimation Uncertainty (Textual)
Estimation of acquisition cost of land use right			$ 5,154,034
Fair value estimated cost			379,971
Estimation of construction prepayment			1,317,295
Impairment to carrying value down to management		$ 0
Level 3 of fair value hierarchy [member]
Key Sources of Estimation Uncertainty (Textual)
Impairment losses			1,248,039
Estimation of construction prepayment			7,160,523
Impairment to carrying value down to management	$ 0		$ 0
Acquisition of Land Rights [Member]
Key Sources of Estimation Uncertainty (Textual)
Impairment losses		4,659,838
Land [member]
Key Sources of Estimation Uncertainty (Textual)
Impairment losses		$ 6,989,200

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	$ 23,762,536	$ 41,200,205	$ 61,343,681
Segment revenue	23,762,536	41,200,205	61,343,681
Segment gross margins/(loss)	(11,511,816)	2,158,273	14,832,407
Reconciling items	(7,901,842)	(17,787,093)	(12,983,048)
(Loss)/profit before tax	(19,413,657)	(15,628,820)	1,849,359
Income tax income/(expense)	4,598,061	3,726,133	(605,689)
Profit/-loss) for the year	(14,815,596)	(11,902,687)	1,243,670
Wholesale revenue [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	15,034,800	32,127,083	40,815,528
Segment revenue	15,034,800	32,127,083	40,815,528
Segment gross margins/(loss)	2,277,858	6,504,893	9,668,518
Retail [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	6,983,592	5,529,985	18,091,585
Segment revenue	6,983,592	5,529,985	18,091,585
Segment gross margins/(loss)	(14,291,680)	(5,668,061)	4,239,168
Subcontracting [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	1,744,144	3,543,137	2,436,568
Segment revenue	1,744,144	3,543,137	2,436,568
Segment gross margins/(loss)	$ 502,007	$ 1,321,441	$ 924,721

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	$ 40,343,386	$ 56,343,823
Non-current assets	40,966,318	34,754,942
Total assets	81,309,704	91,098,765
Current liabilities	7,282,509	7,696,639
Total liabilities	7,282,509	7,696,639
Wholesale and Retail [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	34,036,883	50,272,887
Non-current assets	34,036,883	4,354,540
Total assets	43,024,740	54,627,427
Current liabilities	3,722,277	3,342,199
Total liabilities	3,722,277	3,342,199
Subcontracting [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	6,284,118	6,048,538
Non-current assets	31,978,462	30,400,401
Total assets	38,262,580	36,448,939
Current liabilities	1,995,164	1,793,351
Total liabilities	1,995,164	1,793,351
Unallocated [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	22,384	22,398
Non-current assets
Total assets	22,384	22,398
Current liabilities	1,565,068	2,561,089
Total liabilities	$ 1,565,068	$ 2,561,089

Segment Reporting (Details 2)

Segment Reporting (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 23,762,536	$ 41,200,205	$ 61,343,681
Wholesale revenue [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	15,034,800	32,127,083	40,815,528
Wholesale revenue [Member] | Distributor A [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	1,454,862	3,782,718	6,625,797
Wholesale revenue [Member] | Other Distributors [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 13,579,938	$ 28,344,365	$ 34,189,731

Segment Reporting (Details 3)

Segment Reporting (Details 3) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	$ 12,398,512	$ 25,624,112	$ 48,038,218
Supplier A [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	2,403,309	6,655,740	15,048,108
Supplier B [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	1,714,468	5,424,342	8,354,316
Supplier C [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	1,684,743	4,083,924	6,588,639
Supplier D [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	1,530,429	3,023,297	5,294,921
Other suppliers [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	$ 5,065,563	$ 6,436,809	$ 12,752,234

Revenue (Details)

Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 23,762,536	$ 41,200,205	$ 61,343,681
Wholesale [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	15,034,800	32,127,083	40,815,528
Retail [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	6,983,592	5,529,985	18,091,585
Subcontracting [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	1,744,144	3,543,137	2,436,568
Subtotal [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 22,018,392	$ 37,657,068	$ 58,927,546

Cost of Sales (Details)

Cost of Sales (Details) - USD ($)		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cost of Sales [Abstract]
Changes in inventories of finished goods and work in progress		$ 227,132	$ (302,979)	$ 64,814
Materials consumed in production		41,057	120,847	183,831
Purchases of finished goods		33,877,598	36,567,197	44,786,912
Labor		602,196	1,313,120	787,472
Depreciation		370,858	236,578	252,055
Rental				23,184
Outsourced manufacturing cost
Taxes and surcharges	[1]	157,314	253,039	212,516
Water and electricity		52,796	48,557	55,522
Inventory provision		8	320	342
Others		120,886	238,562	197,778
Foreign currency translation difference		(175,493)	566,691	(53,152)
Cost of sales		$ 35,274,352	$ 39,041,932	$ 46,511,274
[1]	Tax and surcharges are mainly Urban Maintenance and Construction Tax (7% of Valued Added Tax payment amount), Extra Charges of Education Fund (3% of Valued Added Tax payment amount) and Local Surcharge for Education Fund (2% of Valued Added Tax payment amount).

Cost of Sales (Details Textual)

Cost of Sales (Details Textual)	12 Months Ended
	Dec. 31, 2017
Cost of Sales (Textual)
Tax and surcharges, description	Tax and surcharges are mainly Urban Maintenance and Construction Tax (7% of Valued Added Tax payment amount), Extra Charges of Education Fund (3% of Valued Added Tax payment amount) and Local Surcharge for Education Fund (2% of Valued Added Tax payment amount).

Other Income (Details)

Other Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Income [Abstract]
Government grant	$ 367,260	$ 469,569	$ 209,397
Interest income on bank deposits	81,517	85,482	92,747
Others	12,787
Other income	$ 461,564	$ 555,051	$ 302,144

Other Gains and (Losses) (Detai

Other Gains and (Losses) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Gains and (Losses) [Abstract]
Gain on disposals of property, plant and equipment	$ 171	$ 10,541	$ 11,412
Foreign exchange gain	(48)	54	(233,532)
Provision / reversal of inventory obsolescence	(101,256)	(1,667)	(342)
Bad debt provision of trade receivables		(331,196)	(1,028,439)
Impairment of prepayments in land purchase and related construction*		(11,649,038)	(2,565,334)
Others	(21,110)	847,539	(19,473)
Other gains (losses)	$ (122,243)	$ (11,123,767)	$ (3,877,832)

Distribution and Selling Expe89

Distribution and Selling Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Distribution and Selling Expenses [Abstract]
Rental	$ 21,527	$ 30,225	$ 508,039
Depreciation	2,680	490,527	1,239,644
Labor	258,233	211,274	739,789
Subsidy To Distributor	773.238	910,537	1,061,685
Promotion	32,216	137,210	899,664
Advertisement	1,591,742	1,554,023	1,702,863
Others	585,744	272,214	469,572
Total	$ 3,265,380	$ 3,606,010	$ 6,621,256

Administrative Expense (Details

Administrative Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Administrative Expense [Abstract]
Labor	$ 1,600,380	$ 1,170,013	$ 757,639
Audit fee	216,281	(33,997)	175,859
Professional fee	77,754	75,609	136,499
Design fee	937,478	465,120	529,141
Depreciation and amortisation expense	1,149,455	1,163,293	540,799
Bank charges	18,352	12,943	35,179
Rental	74,668	75,673	80,677
Travelling and entertainment	107,566	44,874	59,516
Others	697,463	570,465	482,774
Total	$ 4,879,397	$ 3,543,993	$ 2,798,082

Finance Costs (Details)

Finance Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finance Costs [Abstract]
Interest expenses on bank borrowings wholly repayable within one year	$ 96,385	$ 71,783

Finance Costs (Details Textual)

Finance Costs (Details Textual)	Dec. 31, 2017
Finance Cost (Textual)
Bank borrowings interests	6.09%

Income Tax (Income)_ Expense (D

Income Tax (Income)/ Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
PRC enterprises income tax:
Tax expense (income), continuing operations	$ 4,598,061	$ 3,726,133	$ (605,689)
PRC [Member]
PRC enterprises income tax:
Current tax		53,790	1,514,577
Deferred tax	(4,598,061)	(3,779,923)	(908,888)
Tax expense (income), continuing operations		$ (3,726,133)	$ 605,689

Income Tax (Income)_ Expense 94

Income Tax (Income)/ Expense (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax (Income)/ Expense [Abstract]
(Loss)/profit before tax	$ (19,413,657)	$ (15,628,820)	$ 1,849,359
Tax calculated at domestic tax rates applicable to profits in PRC (2017, 2016, and 2015: 25%)	(4,853,414)	(3,907,205)	462,340
Tax effect of expenses not deductible for tax purpose			908,974
Tax effect of tax loss of tax exempt entities	255,354	181,072	(765,625)
Tax charge for the year	$ (4,598,061)	$ (3,726,133)	$ 605,689

Income Tax (Income)_ Expense 95

Income Tax (Income)/ Expense (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Income Expense [Line Items]
Beginning of the year	$ 4,879,652
End of the year	9,924,944	$ 4,879,652
Temporary difference [member]
Income Tax Income Expense [Line Items]
Beginning of the year	20,737,366	5,617,674	$ 1,981,777
Bad Debt provisions charged to profit or loss		331,196	1,070,563
Impairment charged to profit or loss	101,256	11,649,038	2,565,334
Tax loss carried forward	17,922,508	3,139,458
Effect of translation
End of the year	38,761,130	20,737,366	5,617,674
Deferred tax assets [Member]
Income Tax Income Expense [Line Items]
Beginning of the year	4,879,652	1,340,268	495,444
Bad Debt provisions charged to profit or loss		82,799	267,641
Impairment charged to profit or loss	25,314	2,912,259	641,333
Tax loss carried forward	4,480,627	784,865
Effect of translation	539,351	(240,539)	(64,150)
End of the year	$ 9,924,944	$ 4,879,652	$ 1,340,268

Income Tax (Income)_ Expense 96

Income Tax (Income)/ Expense (Details Textual)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax (Income)/ Expense [Textual)
Tax rate effect of tax losses	25.00%	25.00%	25.00%
Applicable tax rate	16.50%
Hongri Fujian and Anhui Kai Xin [Member]
Income Tax (Income)/ Expense [Textual)
Tax rate effect of tax losses	25.00%

Profit for the Year (Details)

Profit for the Year (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Profit for the Year [Abstract]
Cost of inventories recognized as expenses	$ 35,094,050	$ 38,788,893	$ 46,298,758
Taxes and surcharges	180,302	253,039	212,516
Cost of sales	35,274,352	39,041,932	46,511,274
Depreciation of property, plant and equipment	1,137,831	1,944,176	2,015,437
Amortization of land use rights and trademarks	14,307	19,009	17,061
Amortization of subsidies prepaid to distributors	401,259	910,537	1,093,036
Amortization of prepayments and premiums under operating leases	105,340	118,783	728,996
Provision (Reversal) of inventory obsolescence	101,256	(1,667)	342
Provision of bad debt allowance		331,196	1,028,439
Provision of impairment loss in prepayments		11,649,038	2,565,334
Profit for the year	$ 1,759,993	$ 14,971,072	$ 7,448,645

Employees' Emoluments (Details)

Employees' Emoluments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Employees' Emoluments [Abstract]
Salaries and other short-term benefits	$ 2,476,506	$ 1,369,524	$ 1,878,963
Defined contribution benefit schemes	189,621	280,594	1,888,828
Total employee benefits expense (including directors' emoluments)	$ 2,666,127	$ 1,650,118	$ 3,767,791

Directors' Emoluments (Details)

Directors' Emoluments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Salaries /Social Welfare [Abstract]
Salaries	$ 847,554	$ 749,173	$ 292,371
Social Welfare	1,006	960	982
Yan Keyan [Member]
Salaries /Social Welfare [Abstract]
Salaries	304,050	216,342	105,000
Social Welfare	1,006	960	982
Lixia Tu [Member]
Salaries /Social Welfare [Abstract]
Salaries	235,854	203,559	62,371
John Sano [Member]
Salaries /Social Welfare [Abstract]
Salaries	43,950	39,000	20,000
Themis Kalapotharakos [Member]
Salaries /Social Welfare [Abstract]
Salaries	87,900	97,500
Matthew Los [Member]
Salaries /Social Welfare [Abstract]
Salaries	87,900	97,500
Zhongmin Zhang [Member]
Salaries /Social Welfare [Abstract]
Salaries	43,950
Yuet Mei Chan [Member]
Salaries /Social Welfare [Abstract]
Salaries	$ 43,950

Earnings_ (Loss) Per Share (Det

Earnings/ (Loss) Per Share (Details) - USD ($)		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Basic (Loss)/Earnings Per Share Numerator
Profit for the year attributable to owners of the Company		$ (14,815,596)	$ (11,902,687)	$ 1,243,670
Diluted (Loss)/Earnings Per Share Numerator
Profit for the year attributable to owners of the Company		$ (14,815,596)	$ (11,902,687)	$ 1,243,670
Basic (Loss)/Earnings Per Share Denominator
Original shares:	[1]	1,767,821	1,694,489	1,694,489
Additions from actual events:
- Issuance of common stock, weighted	[1]	93,010	55,653
Basic weighted average shares outstanding	[1]	1,860,831	1,750,142	1,694,489
Diluted (Loss)/Earnings Per Share Denominator
Basic weighted average shares outstanding	[1]	1,860,831	1,750,142	1,694,489
Dilutive shares: Potential additions from dilutive events:
- Exercise of investor warrants	[1],[2]
Diluted Weighted Average Shares Outstanding:	[1]	1,860,831	1,750,142	1,694,489
(Loss)/Earnings Per Share
-Basic		$ (7.96)	$ (6.80)	$ 0.73
-Diluted		$ (7.96)	$ (6.80)	$ 0.73
Weighted Average Shares Outstanding
- Basic	[1]	1,860,831	1,750,142	1,694,489
- Diluted	[1]	1,860,831	1,750,142	1,694,489
[1]	The amount of shares and the respective calculations of earnings/(loss) per share have been adjusted according to reverse split effective during the year.
[2]	There were no potential dilutive additions to diluted weighted shares outstanding as a result of the outstanding warrants being out-of-the-money during the periods presented.

Properties. Plant and Equipm101

Properties. Plant and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
COST
Beginning balance, At January 1	$ 30,890,631	$ 39,812,485
Additions	981,685	183,720
Disposals	(57,541)	(6,560,834)
Translation adjustment	1,904,251	(2,544,740)
Ending balance, At December 31	33,719,026	30,890,631
DEPRECIATION
Beginning balance, At January 1	(4,131,882)	(9,275,764)
Provided for the year	(1,558,308)	(1,864,518)
Eliminated upon disposal of assets	50,396	6,415,511
Translation adjustment	(254,709)	592,889
Ending balance, At December 31	(5,894,503)	(4,131,882)
CARRYING AMOUNT
Carrying Amount	27,824,523	26,758,749
Plant [Member]
COST
Beginning balance, At January 1	28,531,542	30,479,750
Additions	965,792
Disposals
Translation adjustment	1,758,824	(1,948,208)
Ending balance, At December 31	31,256,158	28,531,542
DEPRECIATION
Beginning balance, At January 1	(2,406,532)	(1,199,268)
Provided for the year	(1,377,553)	(1,283,919)
Eliminated upon disposal of assets
Translation adjustment	(148,350)	76,655
Ending balance, At December 31	(3,932,435)	(2,406,532)
CARRYING AMOUNT
Carrying Amount	27,323,723	26,125,010
Machinery [Member]
COST
Beginning balance, At January 1	859,166	1,040,458
Additions	15,893	27,637
Disposals		(142,425)
Translation adjustment	52,963	(66,504)
Ending balance, At December 31	928,022	859,166
DEPRECIATION
Beginning balance, At January 1	(700,123)	(765,500)
Provided for the year	(48,120)	(69,007)
Eliminated upon disposal of assets		85,455
Translation adjustment	(43,159)	48,929
Ending balance, At December 31	(791,402)	(700,123)
CARRYING AMOUNT
Carrying Amount	136,620	159,043
Office equipment [Member]
COST
Beginning balance, At January 1	134,701	130,975
Additions		14,495
Disposals	(12,490)	(2,397)
Translation adjustment	8,304	(8,372)
Ending balance, At December 31	130,515	134,701
DEPRECIATION
Beginning balance, At January 1	(89,920)	(75,573)
Provided for the year	(14,495)	(20,528)
Eliminated upon disposal of assets	10,071	1,351
Translation adjustment	(5,543)	4,830
Ending balance, At December 31	(99,887)	(89,920)
CARRYING AMOUNT
Carrying Amount	30,628	44,781
Motor vehicles [Member]
COST
Beginning balance, At January 1	122,328	130,681
Additions
Disposals	(43,215)
Translation adjustment	7,541	(8,353)
Ending balance, At December 31	86,654	122,328
DEPRECIATION
Beginning balance, At January 1	(109,891)	(111,127)
Provided for the year	(174)	(5,867)
Eliminated upon disposal of assets	38,893
Translation adjustment	(6,774)	7,103
Ending balance, At December 31	(77,946)	(109,891)
CARRYING AMOUNT
Carrying Amount	8,708	12,437
Furniture and fixtures [Member]
COST
Beginning balance, At January 1	145,973	156,349
Additions		317
Disposals	(1,836)	(699)
Translation adjustment	8,999	(9,994)
Ending balance, At December 31	153,136	145,973
DEPRECIATION
Beginning balance, At January 1	(136,626)	(134,786)
Provided for the year	(3,202)	(10,812)
Eliminated upon disposal of assets	1,432	357
Translation adjustment	(8,422)	8,615
Ending balance, At December 31	(146,818)	(136,626)
CARRYING AMOUNT
Carrying Amount	6,318	9,347
Leasehold improvements -factories and offices [Member]
COST
Beginning balance, At January 1	843,767	750,464
Additions		141,271
Disposals
Translation adjustment	52,014	(47,968)
Ending balance, At December 31	895,781	843,767
DEPRECIATION
Beginning balance, At January 1	(435,636)	(358,958)
Provided for the year	(114,764)	(99,622)
Eliminated upon disposal of assets
Translation adjustment	(26,855)	22,944
Ending balance, At December 31	(577,255)	(435,636)
CARRYING AMOUNT
Carrying Amount	318,526	408,131
Leasehold improvements -shops [Member]
COST
Beginning balance, At January 1	253,154	3,920,325
Additions
Disposals		(3,416,591)
Translation adjustment	15,606	(250,580)
Ending balance, At December 31	268,760	253,154
DEPRECIATION
Beginning balance, At January 1	(253,154)	(3,920,325)
Provided for the year
Eliminated upon disposal of assets		3,416,591
Translation adjustment	(15,606)	250,580
Ending balance, At December 31	(268,760)	(253,154)
CARRYING AMOUNT
Carrying Amount
Distributor shops' furniture and fixtures [Member]
COST
Beginning balance, At January 1		3,203,483
Additions
Disposals		(2,998,722)
Translation adjustment		(204,761)
Ending balance, At December 31
DEPRECIATION
Beginning balance, At January 1		(2,710,227)
Provided for the year		(374,763)
Eliminated upon disposal of assets		2,911,757
Translation adjustment		173,233
Ending balance, At December 31
CARRYING AMOUNT
Carrying Amount

Properties. Plant and Equipm102

Properties. Plant and Equipment (Details 1)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 to 20 years
Plant [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	20 years
Residual Value	10.00%
Machinery [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 years
Residual Value	10.00%
Office equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 years
Residual Value	10.00%
Motor vehicles [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 years
Residual Value	10.00%
Furniture and fixtures [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 years
Residual Value	10.00%
Leasehold improvements -factories and offices [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	Shorter of estimated useful life of 5 years or lease term
Residual Value	10.00%
Leasehold improvements -shops [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	Shorter of estimated useful life of 5 years or lease term
Residual Value
Distributor shops' furniture and fixtures [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	1.5 years
Residual Value

Properties. Plant and Equipm103

Properties. Plant and Equipment (Details 2)	12 Months Ended
	Dec. 31, 2017
Jinxi Town, Longshan Road, Taihu City, Anhui Province, the PRC [Member]
Land Use Rights [Line Items]
Description	Dormitory
Gross area (m2)	8,573
Jinxi Town, Longshan Road, Taihu City, Anhui Province, the PRC 1 [Member]
Land Use Rights [Line Items]
Description	Factory
Gross area (m2)	22,292

Properties. Plant and Equipm104

Properties. Plant and Equipment (Details 3) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	$ 99,261	$ 146,154
Machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	95,826	141,075
Motor Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	35	33
Office Equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	2,661	3,202
Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	$ 739	$ 1,844

Properties. Plant and Equipm105

Properties. Plant and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 10, 2012
Properties. Plant and Equipment [Abstract]
Net exchange differences from translating from functional currency to presentation currency	$ (1,649,540)	$ (1,669,507)
Depreciation expense	1,510,213	1,942,735	$ 2,015,437
Gross carrying amount of fully depreciated property, plant and equipment still in use	$ 38,851	$ 32,803
Revaluation surplus				$ 184,272

Prepayments and Premiums Und106

Prepayments and Premiums Under Operating Leases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Prepayments and Premiums Under Operating Leases [Abstract]
Beginning balance, At January 1	$ 2,570,682	$ 2,820,458
additions for the year	30,672	38,300
charge for the year	(105,340)	(118,783)
translation adjustment	156,092	(169,293)
Ending balance, At December 31	$ 2,652,106	$ 2,570,682

Prepayments and Premiums Und107

Prepayments and Premiums Under Operating Leases (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Prepayments and Premiums Under Operating Leases [Abstract]
Current asset	$ 83,907	$ 79,035
Non-current asset	2,568,199	2,491,647
Total	$ 2,652,106	$ 2,570,682	$ 2,820,458

Prepayment for Construction 108

Prepayment for Construction of New Plant (Details)	Dec. 31, 2017USD ($)
Prepayment For Construction Of New Plant [Abstract]
Prepaid in 2015	$ 8,469,878
Recognized as construction in progress	(110,041)
Net recognized construction in progress	8,359,837
Impairment loss in 2015:	(1,199,314)
Adjustment construction in progress	7,160,523
Impairment loss in 2016:	(6,989,200)
Translation adjustment:	(171,323)
Adjustment construction in progress

Prepayment for Construction 109

Prepayment for Construction of New Plant (Details Textual) - USD ($)	1 Months Ended
	Nov. 20, 2010	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Prepayment for Construction of New Plant (Textual)
Prepayment for construction				$ 15,525,413
Recognized in construction in progress		$ 110,041
Amount transferred construction in progress			$ 22,960,220
Consideration amount	$ 17,826,251
Construction in progress [member]
Prepayment for Construction of New Plant (Textual)
Recognized in construction in progress			$ 110,041	$ 6,537,016
Kaixin Anhui [Member] | Second Phase [Member]
Prepayment for Construction of New Plant (Textual)
Prepayment for construction					$ 9,747,897	$ 6,363,853
Recognized in construction in progress					$ 16,401,778

Prepayment for Acquisition o110

Prepayment for Acquisition of Land Use Right (Details)	Dec. 31, 2017USD ($)
Prepayment for Acquisition of Land Use Right [Abstract]
Prepaid in 2010	$ 6,039,930
Impairment loss:	(1,265,867)
Prepayment for acquisition of land use right	4,774,063
Impairment loss in 2016:	(4,659,838)
Translation adjustment:	(114,225)
Prepayment for acquisition of land use right net

Prepayment for Acquisition o111

Prepayment for Acquisition of Land Use Right (Details Textual)	Sep. 02, 2010USD ($)
Prepayment for Acquisition of Land Use Right (Textual)
Total consideration	$ 6,340,456

Land Use Rights (Details)

Land Use Rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
COST
Beginning balance, At January 1	$ 691,618	$ 769,643
additions for the year
translation adjustment	42,635	(78,025)
Ending balance, At December 31	734,253	691,618
AMORTIZATION
Beginning balance, At January 1	(66,724)	(82,605)
charge for the year	(14,307)	(19,009)
translation adjustment	(4,569)	34,890
Ending balance, At December 31	(85,600)	(66,724)
CARRYING AMOUNTS
Land use rights	$ 648,652	$ 624,894

Land Use Rights (Details 1)

Land Use Rights (Details 1)	12 Months Ended
	Dec. 31, 2017LandArea
Longshan Road, Economic development District, Taihu County [Member]
Land Use Rights [Line Items]
Expiry date of tenure	May 23, 2062
Land area (m2)	2,440
Longshan Road, Economic development District, Taihu County One [Member]
Land Use Rights [Line Items]
Expiry date of tenure	Nov. 6, 2061
Land area (m2)	7,405

Land Use Rights (Details Textua

Land Use Rights (Details Textual)	12 Months Ended
	Dec. 31, 2017
Land Use Rights (Textual)
Land use rights, terms	50 years

Inventories (Details)

Inventories (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Inventories [Abstract]
Raw materials	$ 1,186,467	$ 1,985,131
Finished goods	726,373	467,757
Provision for obsolete inventories	(106,628)	(2,022)
Inventories	$ 1,806,212	$ 2,450,866

Trade Receivables, Other Rec116

Trade Receivables, Other Receivables and Prepayments (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Trade Receivables, Other Receivables and Prepayments [Abstract]
Trade receivables	$ 11,860,798	$ 24,763,795
Bad debt provision for trade receivables	(1,359,255)	(1,280,330)
Trade receivables, net	$ 10,501,543	$ 23,483,465

Trade Receivables, Other Rec117

Trade Receivables, Other Receivables and Prepayments (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Trade Receivables, Other Receivables and Prepayments [Abstract]
Other receivables	$ 2,849	$ 2,251
Prepayments	1,898,419	5,361,869
Trade and other receivables	$ 1,901,268	$ 5,364,120

Trade Receivables, Other Rec118

Trade Receivables, Other Receivables and Prepayments (Details 2) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Trade Receivables [Line Items]
Trade receivables	$ 11,860,798	$ 24,763,795
Current [Member]
Trade Receivables [Line Items]
Trade receivables	1,791,936	1,496,397
Past due for less than 4 months [Member]
Trade Receivables [Line Items]
Trade receivables	2,721,633	9,306,568
Past due for more than 4 months [Member]
Trade Receivables [Line Items]
Trade receivables	$ 7,347,229	$ 13,960,830

Trade Receivables, Other Rec119

Trade Receivables, Other Receivables and Prepayments (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Trade Receivables, Other Receivables and Prepayments [Abstract]
Beginning balance, As at January 1	$ 1,280,330	$ 1,028,439
Provision provided in the year		331,196
Translation adjustment	78,925	(79,305)
Ending balance, As at December 31	$ 1,359,255	$ 1,280,330

Trade Receivables, Other Rec120

Trade Receivables, Other Receivables and Prepayments (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Trade Receivables [Line Items]
Average credit period, description	The Group allows an average credit period of 90 -120 days to its trade customers.
Bad deb allowance		$ 331,196
Trade receivables	$ 1,723,364	$ 3,598,158

Subsidies Prepaid to Distrib121

Subsidies Prepaid to Distributors (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Subsidies Prepaid to Distributors [Abstract]
Beginning balance, At Janaury 1	$ 389,996	$ 516,231
additions for the year		779,991
charge for the year	(389,996)	(873,231)
translation adjustment		(32,995)
Ending balance, At December 31		$ 389,996

Subsidies Prepaid to Distrib122

Subsidies Prepaid to Distributors (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Subsidies Prepaid To Distributors (Texttual)
Amortization expense	$ 401,258	$ 910,537

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Cash on hand	$ 16,413	$ 15,066
Bank deposits	26,034,043	24,561,275
Cash and cash equivalents	$ 26,050,456	$ 24,576,341	$ 21,214,080	$ 20,604,582

Cash and Cash Equivalents (D124

Cash and Cash Equivalents (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 26,050,456	$ 24,576,341	$ 21,214,080	$ 20,604,582
Renminbi [Member]
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	26,040,572	24,566,443
Hong Kong Dollars [Member]
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	8,914	8,921
United States Dollars [Member]
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 970	$ 977

Cash and Cash Equivalents (D125

Cash and Cash Equivalents (Details Textual)	Dec. 31, 2017	Dec. 31, 2016
Bottom of Range [Member]
Cash and Cash Equivalents (Textual)
Percentage of bank deposit interest rate	0.35%	0.35%
Top of Range [Member]
Cash and Cash Equivalents (Textual)
Percentage of bank deposit interest rate	0.50%	0.50%

Trade and Other Payables (Detai

Trade and Other Payables (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Trade and Other Payables [Abstract]
Trade payables	$ 104,258	$ 78,994
Employee benefits payable	226,210	207,671
Other payables	1,648,060	1,531,532
Subtotal financial liabilities	1,978,528	1,818,197
Other taxes payable	3,473,302	2,956,431
Trade and other payables	$ 5,451,830	$ 4,774,628

Trade and Other Payables (De127

Trade and Other Payables (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Disclosure of provision matrix [line items]
Trade payables	$ 104,258	$ 78,994
Current [Member]
Disclosure of provision matrix [line items]
Trade payables	23,587	31,083
Past due for less than 4 months [Member]
Disclosure of provision matrix [line items]
Trade payables	57,637	16,211
Past due for over 4 months [Member]
Disclosure of provision matrix [line items]
Trade payables	$ 23,034	$ 31,700

Related Parties Payable (Detail

Related Parties Payable (Details)	12 Months Ended
	Dec. 31, 2017
Yan, Keyan [Member]
Disclosure of transactions between related parties [line items]
Relationship with the Group	Chairman, Director, and CEO
Chen, Bizhen [Member]
Disclosure of transactions between related parties [line items]
Relationship with the Group	Wife of Yan, Keyan
KBS International [Member]
Disclosure of transactions between related parties [line items]
Relationship with the Group	Ex-shareholder of Hongri
Shishi City Lingxiu Hongri Knitwear Factory [Member]
Disclosure of transactions between related parties [line items]
Relationship with the Group	Company owned by Chen, Bizhen

Related Parties Payable (Det129

Related Parties Payable (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [line items]
Borrowing of funds	$ 154,137	$ 1,150,129
Yan, Keyan [Member]
Disclosure of transactions between related parties [line items]
Borrowing of funds	154,137	1,125,912
Chen, Bizhen [Member]
Disclosure of transactions between related parties [line items]
Borrowing of funds		$ 24,416

Short-Term Bank Loans (Details)

Short-Term Bank Loans (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Short-Term Bank Loans [Abstract]
Secured bank borrowings	$ 1,606,930	$ 1,513,623
Carrying amount repayable within 1 year	$ 1,606,930	$ 1,513,623

Short-Term Bank Loans (Details

Short-Term Bank Loans (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Amount	$ 1,606,930	$ 1,513,623
Interest rate	6.09%
Yan, Keyan/ Chen, Bizhen [Member] | 4/6/2017 - 4/5/2018 [Member]
Disclosure of detailed information about borrowings [line items]
Amount	$ 459,123
Interest rate	6.09%
Mortgage	Land use right and buildings
Yan, Keyan/ Chen, Bizhen [Member} | 3/24/2017 - 3/21/2018 [Member]
Disclosure of detailed information about borrowings [line items]
Amount	$ 1,147,807
Interest rate	6.09%
Mortgage	Land use right and buildings

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($)	11 Months Ended	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Warrant Liabilities [Abstract]
Beginning balance (inception)			$ 3,409	$ 15,387	$ 3,432,440	$ 3,477,882
Correction of an error	3,200,223
Issuance of warrants as part of Units on November 7, 2012	322,884
Change in fair value	(45,225)		(3,409)	(11,978)	(3,417,053)	(45,442)
Ending balance	$ 3,477,882			$ 3,409	$ 15,387	$ 3,432,440

Warrant Liabilities (Details 1)

Warrant Liabilities (Details 1) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Warrant Liabilities [Abstract]
Stock price	4.14	0.28
Dividend yield
Risk-free rate	1.89%	1.28%
Expected term (in years)	1 year 6 months 29 days	2 years 6 months 29 days
Expected volatility	22.30%	23.60%

Warrant Liabilities (Details Te

Warrant Liabilities (Details Textual)	Nov. 07, 2012USD ($)Units$ / shares	Nov. 01, 2012USD ($)Units$ / shares	Dec. 31, 2017$ / sharesshares	Dec. 31, 2016$ / shares
Warrant Liabilities (Textual)
Public offering units sold		5,000,000
Offering price | $ / shares	$ 10	$ 10
Proceeds from public offering | $	$ 5,500,000	$ 50,000,000
Public offering, description		Each Redeemable Warrant entitled the holder to purchase one share of common stock at a price of $11.50 which would commence on the later of either the completion of an initial Acquisition Transaction or October 24, 2013, and would expire five years from the completion date of an initial Acquisition Transaction, provided that there is an effective registration statement covering the shares of common stock underlying the Redeemable Warrants. The Company is entitled to redeem the Redeemable Warrants at a price of $0.01 per Redeemable Warrant upon providing 30 days' notice, subject to the last sale price of the common stock was at a minimum of $17.50 per share for any 20 trading days within a 30-trading day period ("30-Day Trading Period") that ended on the third day prior to the date on which notice of redemption is given, provided that there is a current registration statement in effect with respect to the shares of common stock underlying such Redeemable Warrants commencing ten days prior to the 30-Day Trading Period and continuing each day thereafter until the date of redemption.
Private placement unit sold	30,250	337,750
Proceeds from private placement | $	$ 302,500	$ 3,377,500
Additional public offering unit sold	550,000	750,000
Warrants quoted price | $ / shares			$ 0.001	$ 0.02
Unexpired warrants outstanding | shares			393,835

Share Capital and Share Prem135

Share Capital and Share Premium (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Nov. 25, 2010	Jul. 08, 2008	Mar. 28, 2006	Sep. 21, 2005
Share Capital and Share Premium [Abstract]
Number of shares, Shares outstanding	1,767,821
Number of shares, Issuance of shares	218,478
Number of shares, Shares outstanding	1,986,299
Share capital, Shares outstanding	$ 177
Share capital, Issuance of shares	21
Share capital, Shares outstanding	198
Share premium, Shares outstanding	6,056,240
Share premium, Issuance of shares	629,930
Share premium, Shares outstanding	$ 6,686,169
Number of shares, Authorized Common shares	150,000,000		10,000	50,000	50,000	10,000
Number of shares, Issue and fully paid common shares	1,986,299	1,767,821
Share capital, Authorized Common shares	$ 15,000
Share capital, Issue and fully paid common shares	198	$ 177
Share premium, Authorized Common shares
Share premium, Issue and fully paid common shares	$ 6,686,170	$ 6,056,240

Share Capital and Share Prem136

Share Capital and Share Premium (Details Textual) - USD ($)	Jul. 10, 2017	Feb. 06, 2017	Jan. 20, 2017	Mar. 29, 2016	Dec. 31, 2017	Dec. 31, 2016
Share Capital and Share Premium (Textual)
Prefered stock share authorized					5,000,000
Prefered stock par value					$ 0.0001
Common stock share authorized					150,000,000
Common stock par value					$ 0.0001
Share based payment amount				$ 429,000
Company granted and issued	215,000		57,600
Common stock reduced		26,517,329
Outstanding shares		1,767,821			1,986,299	1,767,821
Reverse stock split, description		1-15 reverse stock split
Issue and fully paid common shares					$ 0.0001	$ 0.0001
February 6 2017 [Member]
Share Capital and Share Premium (Textual)
Outstanding shares		1,767,821
February 10, 2018 [Member]
Share Capital and Share Premium (Textual)
Common stock granted, and subsequently issued					285,000
Executive officers and directors [Member]
Share Capital and Share Premium (Textual)
Common stock granted, and subsequently issued				1,100,000

Reserve (Details)

Reserve (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reserve (Textual)
Statutory surplus reserve ,description	The amounts determined by their respective boards of directors annually up to 50% of authorized capital, but must not be less than 10% of the net profit after tax.
Statutory surplus reserve	$ 6,084,836	$ 6,084,836

Risk Management and Fair Val138

Risk Management and Fair Values (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Risk Management and Fair Values [Abstract]
Total borrowing	$ 1,606,930	$ 1,513,623
Less: cash and cash equivalents	26,050,456	24,576,341	$ 21,214,080	$ 20,604,582
Net debt	(24,443,526)	(23,062,718)
Total equity	74,027,195	83,402,126	$ 100,816,974	$ 105,618,076
Total capital	$ 49,583,670	$ 60,339,408
Gearing ratio	(33.00%)	(28.00%)

Risk Management and Fair Val139

Risk Management and Fair Values (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Risk Management And Fair Values [Line Items]
Short-term bank loans and related interests	$ 1,606,930	$ 1,535,053
Trade and other payables	5,451,830	4,774,628
Related parties payables	154,137	1,150,129
Income tax payable		258,259
Total	7,282,509	7,718,069
Within 1 year [Member]
Risk Management And Fair Values [Line Items]
Short-term bank loans and related interests	1,606,930	1,535,053
Trade and other payables	5,451,830	4,774,628
Related parties payables	154,137	1,150,129
Income tax payable		258,259
Total	7,212,897	7,718,069
Over 1 year [member]
Risk Management And Fair Values [Line Items]
Short-term bank loans and related interests
Trade and other payables
Related parties payables
Income tax payable
Total

Risk Management and Fair Val140

Risk Management and Fair Values (Details 2) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Risk Management And Fair Values [Line Items]
Liabilities	$ 7,282,509	$ 7,696,639
Recurring fair value measurement [Member] | Level 2 [Member]
Risk Management And Fair Values [Line Items]
Liabilities
Recurring fair value measurement [Member] | Warrant Liabilities [Member] | Level 2 [Member]
Risk Management And Fair Values [Line Items]
Liabilities

Risk Management and Fair Val141

Risk Management and Fair Values (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Risk Management and Fair Values (Textual)
Average appreciation (depreciation) foreign currency	An average appreciation (depreciation) of the RMB against the U.S. dollar of 6%.
Increase (decrease) comprehensive income	$ 0.8
Accumulated other comprehensive loss	$ 3
Description of concentrations risk	The outstanding balance of the five largest customers represented approximately 26% of the trade receivables of the Group at December 31, 2017 (2016: 28%).

Commitments and Contingencie142

Commitments and Contingencies (Details)	Dec. 31, 2017USD ($)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016USD ($)	Dec. 31, 2016CNY (¥)
Commitments and Contingencies [Abstract]
Contracted and authorized	$ 67,315,108	¥ 439,850,378	$ 63,406,426	¥ 439,850,378

Commitments and Contingencie143

Commitments and Contingencies (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 2,669,859	$ 2,606,969
Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	2,645,245	2,600,506
Within 1 year [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	101,660	79,035
Within 1 year [Member] | Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	77,046	72,252
2-5 years [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	231,138	290,289
2-5 years [Member] | Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	231,138	290,289
Thereafter [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	2,337,061	2,237,645
Thereafter [Member] | Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 2,337,061	$ 2,237,645

Commitments and Contingencie144

Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies (Textual)
Description of leases	The amount of $101,660 as of December 31, 2017 represents leases of two offices, four units of staff quarters, and one warehouse. There is no contingent rent payable for all of the leases.
Description of leases period	The lease commenced on January 1, 2009 and will expire on April 22, 2052.

Events After the Balance Sheet

Events After the Balance Sheet (Details)	12 Months Ended
	Dec. 31, 2017shares
February 10, 2018 [Member]
Events After the Balance Sheet (Textual)
Shares granted, and subsequently issued	285,000