JX Luxventure Limited (JXG) 6-K 17 Dec 18 2018 Q2 Report of Foreign Private Issuer Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2018shares
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	6-K
Document Period End Date	Jun. 30, 2018
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,018
Entity Common Stock, Shares Outstanding	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Profit or loss [abstract]
Revenue	$ 8,352,070	$ 9,579,568
Cost of sales	(6,232,435)	(7,503,626)
Gross profit	2,119,635	2,075,942
Other income	66,876	403,463
Other gains and (losses)	13,819	(3,846,439)
Distribution and selling expenses	(1,406,499)	(1,629,197)
Administrative expenses	(3,354,952)	(2,169,787)
Loss from operations	(2,561,121)	(5,166,018)
Finance costs	(51,185)	(47,342)
Loss before tax	(2,612,306)	(5,213,360)
Income tax income	256,512	1,244,281
Loss for the year	(2,355,794)	(3,969,079)
Other comprehensive (loss)/ income
-currency translation differences	(913,840)	1,257,618
Total comprehensive loss for the period	$ (3,269,634)	$ (2,711,461)
(Loss) /earnings per share of common stock attributable to the Company
-Basic	$ (1.07)	$ (2.24)
-Diluted	$ (1.07)	$ (2.24)
Weighted average shares outstanding:
-Basic	2,206,741	1,771,132
-Diluted	2,206,741	1,771,132

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Position - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Non-current assets
Property, plant and equipment-net	$ 26,733,098	$ 27,824,523
Prepayments and premiums under operating leases	2,516,645	2,568,199
Prepayment for construction of new plant
Prepayment for acquisition of land use right
Land use rights	633,285	648,652
Deferred tax assets	10,048,882	9,924,944
Non-current assets	39,931,910	40,966,318
Current assets
Inventories	2,882,333	1,806,212
Trade receivables	11,794,590	10,501,543
Other receivables and prepayments	452,368	1,901,268
Prepayments and premiums under operating leases	87,850	83,907
Cash and cash equivalents	24,123,110	26,050,456
Current assets	39,340,251	40,343,386
Total assets	79,272,161	81,309,704
Current liabilities
Short term bank loans	1,586,918	1,606,930
Trade and other payables	5,187,624	5,451,830
Related parties payables	425,638	154,137
Income tax payable
Deposits received		69,612
Current liabilities	7,200,180	7,282,509
Non-current liability
Warrant liabilities
Non-current liabilities
Total liabilities	7,200,180	7,282,509
Equity
Share capital	227	198
Share premium	8,000,561	6,686,169
Revaluation reserve	184,272	184,272
Statutory surplus reserve	6,084,836	6,084,836
Retained profits	61,791,017	64,146,811
Foreign currency translation reserve	(3,988,932)	(3,075,091)
Total equity	72,071,981	74,027,195
Total liabilities and equity	$ 79,272,161	$ 81,309,704

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Equity - USD ($)	Share capital	Share premium	Revaluation reserve	Statutory surplus reserve	Retained profits	Foreign currency translation reserve	Total
Beginning balance at Dec. 31, 2016	$ 177	$ 6,056,240	$ 184,272	$ 6,084,836	$ 78,962,407	$ (7,885,806)	$ 83,402,126
Shares issued for stock based compensation	21	629,929					629,950
Loss for the year/period					(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	198	6,686,169	184,272	6,084,836	64,146,811	(3,075,091)	74,027,195
Shares issued for stock based compensation	29	1,314,392					1,314,421
Loss for the year/period					(2,355,794)		(2,355,794)
Other comprehensive income (loss) for the year						(913,841)	(913,841)
Ending balance at Jun. 30, 2018	$ 227	$ 8,000,561	$ 184,272	$ 6,084,836	$ 61,791,017	$ (3,988,932)	$ 72,071,981

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
OPERATING ACTIVITIES
Loss for the year	$ (2,355,794)	$ (3,969,079)
Adjustments for:
Share-based payment	1,314,420
Finance cost	51,185	(47,342)
Interest income	(39,111)	(42,538)
Depreciation of property, plant and equipment	792,939	740,257
Amortization of prepaid lease payments and trademark	7,554	7,030
Amortization of subsidies prepaid to distributors		432,787
Amortization of prepayments and premiums under operating leases	27,432	51,761
Reversal of inventory obsolescence	(28,617)	(2,045)
Bad debt provision of trade receivables		(3,831,436)
Gain on disposal of property, plant and equipment		(2,463)
Operating cash flows before movements in working capital	(229,992)	(6,663,068)
(Increase)/ decrease in trade and other receivables	(1,475,446)	4,731,162
Increase in inventories	(1,109,827)	(958,547)
(Decrease)/ Increase in trade and other payables	(292,811)	57,122
Prepayments and premiums paid under operating leases	1,464,732	4,102,502
Related parties payables	108,523	(1,126,397)
CASH (USED IN)/ GENERATED FROM OPERATING ACTIVITIES	(1,534,821)	142,774
Deferred income tax	(256,512)	(1,244,281)
Income tax paid		(805,076)
NET CASH USED IN OPERATING ACTIVITIES	(1,791,333)	(1,906,583)
INVESTING ACTIVITIES
Interest received	39,111	42,538
Purchase of property, plant and equipment	(21,022)	(2,230)
NET CASH FROM INVESTING ACTIVITIES	18,089	40,308
FINANCING ACTIVITIES
Interest paid	(51,185)	(47,342)
New bank loans raised	1,644,448
Repayment of borrowings	(1,644,448)
Advance from related party	271,837
NET CASH FROM FINANCING ACTIVITIES	220,652	(47,342)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,552,592)	(1,913,617)
Effects of currency translation	(374,754)	669,532
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	26,050,456	24,576,341
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 24,123,110	$ 23,332,257

General Information

General Information	6 Months Ended
	Jun. 30, 2018
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 ulfill, and KBS, the legal ulfill, 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	6 Months Ended
	Jun. 30, 2018
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:

Basis of Accounting

Basis of Accounting	6 Months Ended
	Jun. 30, 2018
Basis of Accounting [Abstract]
BASIS OF ACCOUNTING	3. BASIS OF ACCOUNTING These interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with the Company’s last annual consolidated financial statements as at and for the year ended December 31, 2017 (‘last annual financial statements’). They do not include all of the information required for a complete set of IFRS financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Company’s financial position and performance since the last annual financial statements. This is the first set of the Company’s financial statements where IFRS 15 and IFRS 9 have been applied. Changes to significant accounting policies are described in Note 4.

Changes in Significant Accounti

Changes in Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Signifcant Accounting Policies [Abstract]
CHANGES IN SIGNIFICANT ACCOUNTING POLICIES	4. CHANGES IN SIGNIFICANT ACCOUNTING POLICIES Except as described below, the accounting policies applied in these interim financial statements are the same as those applied in the Company’s consolidated financial statements as at and for the year ended December 31, 2017 (the policy for recognizing and measuring income taxes in the interim period is described in Note 10). The changes in accounting policies are also expected to be reflected in the Company’s consolidated financial statements as at and for the year ending December 31, 2018. The Company has initially adopted IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments from January 1, 2018. Several other new standards are effective from January 1, 2018 but they do not have a material effect on the Company’s financial statements. IFRS 9 sets out requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. This standard replaces IAS 39 Financial Instruments: Recognition and Measurement. (a) Classification and measurement IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale. The adoption of IFRS 9 has not had a significant effect on the Company’s accounting policies related to financial liabilities and derivative financial instruments. The impact of IFRS 9 on the classification and measurement of financial assets is set out below. Under IFRS 9, on initial recognition, a financial asset is classified as measured at: amortized cost; FVOCI – debt investment; FVOCI – equity investment; or FVTPL. The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. Derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: – it is held within a business model whose objective is to hold assets to collect contractual cashflows; and – its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: – it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and – its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. A financial asset (unless it is a trade receivable without a significant financing component that is initially measured at the transaction price) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition. The following accounting policies apply to the subsequent measurement of financial assets. Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. There was no financial asset that requires reclassification and remeasurement as of January 1, 2018. (b) Impairment The adoption of IFRS 9 has fundamentally changed the Company’s accounting for impairment losses for financial assets by replacing IAS 39’s incurred loss approach with a forward-looking expected credit loss(“ECL”) approach. IFRS 9 requires the Company to record an allowance for ECLs for all loans and other debt financial assets not held at fair value through profit or loss (“FVPL”). ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive. The shortfall is then discounted at an approximation to the asset’s original effective interest rate. The adoption of the ECL requirements of IFRS 9 does not have a significant financial effect on the condensed consolidated interim financial statements. IFRS 15 supersedes IAS 11 Construction Contracts and IAS 18 Revenue and related Interpretations, and it applies to all revenue arising from contracts with customers, unless those contracts are in the scope of other standards. The new standard establishes a five-step model to account for revenue arising from contracts with customers. Under IFRS 15, revenue is recognized at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer. The standard requires entities to exercise judgement, taking into consideration all of the relevant facts and circumstances when applying each step of the model to contracts with their customers. The standard also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling contract. The adoption of this standard does not have a significant financial effect on the condensed consolidated interim financial statements of the Company.

Significant Accounting Judgemen

Significant Accounting Judgements And Estimates	6 Months Ended
	Jun. 30, 2018
Significant Management Judgement in Applying Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES	5. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES In preparing these interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. The significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
SEGMENT REPORTING	6. 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 six months ended June 30, For the six months ended June 30, For the six months ended June 30, For the six months ended June 30, 2018 2017 2018 2017 2018 2017 2018 2017 Sales to external customers 6,961,772 8,334,042 283,499 346,051 1,106,799 899,475 8,352,070 9,579,568 Segment revenue 6,961,772 8,334,042 283,499 346,051 1,106,799 899,475 8,352,070 9,579,568 Segment gross margins/(loss) 1,618,547 1,628,544 120,885 181,986 380,203 265,413 2,119,635 2,075,942 Reconciling items (4,731,941 ) (7,289,302 ) Profit/(loss) before tax (2,612,306 ) (5,213,360 ) Income tax income/(expense) 256,512 1,244,281 Profit/(loss) for the year (2,355,794 ) (3,969,079 ) As of June 30, 2018 Wholesale and Retail Subcontracting Unallocated Consolidated Current assets 32,760,141 6,557,774 22,337 39,340,252 Non-current assets 8,946,222 30,985,688 - 39,931,910 Total assets 41,706,363 37,543,462 22,337 79,272,162 Current liabilities 3,339,868 2,023,803 1,836,508 7,200,179 Total liabilities 3,339,868 2,023,803 1,836,508 7,200,179 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 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 There was no concentration in major customers for the six months ended June 30, 2018 and 2017. Information about major suppliers Major suppliers that make up 10% or more of purchases are as below: For the six months ended 2018 2017 Supplier A 2,008,270 2,946,004 Supplier B 2,271,651 2,343,887 Supplier C 1,324,115 - Other suppliers 993,517 8,067,003 6,597,553 13,356,894

Revenue

Revenue	6 Months Ended
	Jun. 30, 2018
Revenue [Abstract]
REVENUE	7. REVENUE For the six months ended 2018 2017 Apparel -Wholesale 6,961,772 8,334,042 -Retail 283,499 346,051 Subtotal 7,245,271 8,680,093 Subcontracting 1,106,799 899,475 8,352,070 9,579,568

Other Gains and (Losses)

Other Gains and (Losses)	6 Months Ended
	Jun. 30, 2018
Other Gains and (Losses) [Abstract]
OTHER GAINS AND (LOSSES)	8. OTHER GAINS AND (LOSSES) For the six months ended 2018 2017 Gain on disposals of property, plant and equipment - 2,463 Foreign exchange (loss)/ gain (702 ) 100 Provision / reversal of inventory obsolescence 28,616 - Bad debt provision/ (reversal) of trade receivables - (3,831,436 ) Impairment of prepayments in land purchase and related construction - - Others (14,095 ) (17,566 ) 13,819 (3,846,439 )

Finance Costs

Finance Costs	6 Months Ended
	Jun. 30, 2018
Finance Costs [Abstract]
FINANCE COSTS	9. FINANCE COSTS For the six months ended 2018 2017 Interest expenses on bank borrowings wholly repayable within one year 51,185 47,342 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

Income Tax Income	6 Months Ended
	Jun. 30, 2018
Income Tax (Income)/ Expense [Abstract]
INCOME TAX INCOME	10. INCOME TAX INCOME Income tax expense is recognized at an amount determined by multiplying the profit (loss) before tax for the interim reporting period by management’s best estimate of the weighted-average annual income tax rate expected for the full financial year, adjusted for the tax effect of certain items recognized in full in the interim period. As such, the effective tax rate in the interim financial statements may differ from management’s estimate of the effective tax rate for the annual financial statements. Due to continuous operating loss, the effective tax rate for the for the six months ended June 30, 2018 and 2017 were (9)% and (23)%, respectively. For the six months ended 2018 2017 PRC enterprises income tax: Current tax - Deferred tax 256,512 1,244,281 256,512 1,244,281 Hongri Fujian and Anhui Kai Xin subject to the applicable enterprise income tax rate of 25%. As of June 30, 2018 and December 31, 2017, 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.

Loss for the Year

Loss for the Year	6 Months Ended
	Jun. 30, 2018
Profit for the Year [Abstract]
LOSS FOR THE YEAR	11. LOSS FOR THE YEAR Loss for the year has been arrived at after charging: For the six months ended 2018 2017 Cost of inventories recognized as expenses 6,211,233 7,466,903 Taxes and surcharges 21,202 36,723 6,232,435 7,503,626 Depreciation of property, plant and equipment 792,939 740,257 Amortization of land use rights 7,554 7,030 Amortization of subsidies prepaid to distributors - 432,787 Amortization of prepayments and premiums under operating leases 27,432 51,761 Provision (Reversal) of inventory obsolescence (28,616 ) (2,045 ) Provision of bad debt allowance 1,314,420 (3,831,436 ) 2,113,729 (2,601,646 )

Earnings_ (Loss) Per Share

Earnings/ (Loss) Per Share	6 Months Ended
	Jun. 30, 2018
Earnings/ (Loss) Per Share [Abstract]
EARNINGS/ (LOSS) PER SHARE	12. EARNINGS/ (LOSS) PER SHARE For the six months ended 2018 2017 Basic (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (2,355,794 ) $ (3,969,079 ) Diluted (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (2,355,794 ) $ (3,969,079 ) Basic (Loss)/Earnings Per Share Denominator # Original shares: 1,986,299 1,767,821 Additions from actual events: - Issuance of common stock, weighted 220,442 3,311 Basic weighted average shares outstanding 2,206,741 1,771,132 Diluted (Loss)/Earnings Per Share Denominator # Basic weighted average shares outstanding 2,206,741 1,771,132 Dilutive shares: Potential additions from dilutive events: - Exercise of investor warrants* - - Diluted Weighted Average Shares Outstanding: 2,206,741 1,771,132 (Loss)/Earnings Per Share # - Basic $ (1.07 ) $ (2.24 ) - Diluted $ (1.07 ) $ (2.24 ) Weighted Average Shares Outstanding # - Basic 2,206,741 1,771,132 - Diluted 2,206,741 1,771,132 * There were no potential dilutive additions to diluted weighted shares outstanding

Properties. Plant and equipment

Properties. Plant and equipment	6 Months Ended
	Jun. 30, 2018
Property, plant and equipment [abstract]
PROPERTIES. PLANT AND EQUIPMENT	13. PROPERTIES. PLANT AND EQUIPMENT Plant Machinery Office equipment Motor Furniture and fixtures Leasehold improvements Leasehold improvements Total COST At January 1, 2017 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 Additions - - 11,974 - 8,312 - - 20,286 Disposals - - - - - - - - Translation adjustment (389,249 ) (11,557 ) (1,625 ) (1,079 ) (1,907 ) (11,156 ) (3,347 ) (419,920 ) At June 30, 2018 30,866,909 916,465 140,864 85,575 159,541 884,625 265,413 33,319,392 DEPRECIATION At January 1, 2017 (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 ) (114,762 ) - (1,558,306 ) 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 ) (577,253 ) (268,760 ) (5,894,501 ) Provided for the year (694,505 ) (7,817 ) (4,852 ) (43 ) (1,315 ) (56,667 ) - (765,199 ) Eliminated upon disposal of assets - - - - - - - - Translation adjustment 48,973 9,856 1,244 971 1,828 7,189 3,347 73,407 At June 30, 2018 (4,577,967 ) (789,363 ) (103,495 ) (77,018 ) (146,305 ) (626,731 ) (265,413 ) (6,586,292 ) CARRYING AMOUNT At December 31, 2017 27,323,723 136,620 30,628 8,708 6,318 318,528 - 27,824,524 At June 30, 2018 26,288,942 127,102 37,369 8,557 13,236 257,894 - 26,733,098 Net exchange differences from translating the financial statements from functional currency to presentation currency were $(346,514) and $1,649,540 as at June 30, 2018 and December 31, 2017, respectively. Depreciation expense for the six months ended June 30, 2018 and 2017 were $792,939, and $740,257, 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 $38,367 and $38,851as at June 30, 2018 and December 31, 2017, 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 As at Machinery 79,700 95,826 Motor Vehicles 34 35 Office Equipment 2,628 2,661 Furniture and fixtures 729 739 83,091 99,261

Prepayments and Premiums Under

Prepayments and Premiums Under Operating Leases	6 Months Ended
	Jun. 30, 2018
Prepayments and Premiums Under Operating Leases [Abstract]
PREPAYMENTS AND PREMIUMS UNDER OPERATING LEASES	14. PREPAYMENTS AND PREMIUMS UNDER OPERATING LEASES Amount At January 1, 2017 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 additions for the year 20,422 charge for the year (54,677 ) translation adjustment (13,356 ) At June 30, 2018 2,604,495 Analyzed for reporting purposes as: As at As at December 31, Current asset 87,850 83,907 Non-current asset 2,516,645 2,568,199 2,604,495 2,652,106

Prepayment for Construction of

Prepayment for Construction of New Plant	6 Months Ended
	Jun. 30, 2018
Prepayment For Construction Of New Plant [Abstract]
PREPAYMENT FOR CONSTRUCTION OF NEW PLANT	15. 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 June 30, 2018, 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	6 Months Ended
	Jun. 30, 2018
Prepayment for Acquisition of Land Use Right [Abstract]
PREPAYMENT FOR ACQUISITION OF LAND USE RIGHT	16. 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 June 30, 2018, 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	6 Months Ended
	Jun. 30, 2018
Land Use Rights [Abstract]
LAND USE RIGHTS	17. LAND USE RIGHTS Amount COST At January 1, 2017 691,618 additions for the year - translation adjustment 42,635 At December 31, 2017 734,253 additions for the year - translation adjustment (9,144 ) At June 30, 2018 725,109 AMORTIZATION At January 1, 2017 (66,724 ) charge for the year (14,307 ) translation adjustment (4,570 ) At December 31, 2017 (85,601 ) charge for the year (7,554 ) translation adjustment 1,331 At June 30, 2018 (91,824 ) CARRYING AMOUNTS At December 31, 2017 648,652 At June 30, 2018 633,285 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 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	6 Months Ended
	Jun. 30, 2018
Inventories [Abstract]
INVENTORIES	18. INVENTORIES As at As at Raw materials 527,955 1,186,467 Work in process 2,851 - Finished goods 2,429,212 726,372 Provision for obsolete inventories (77,685 ) (106,627 ) 2,882,333 1,806,212

Trade Receivables, Other Receiv

Trade Receivables, Other Receivables and Prepayments	6 Months Ended
	Jun. 30, 2018
Trade and other receivables [abstract]
TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAYMENTS	19. TRADE RECEIVABLES, OTHER RECEIVABLES AND PREPAYMENTS As at As at Trade receivables 13,136,918 11,860,798 Bad debt provision for trade receivables (1,342,328 ) (1,359,255 ) 11,794,590 10,501,543 As at As at Other receivables 2,814 2,849 Prepayments 449,554 1,898,419 452,368 1,901,268 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 As at Current 974,560 1,791,936 Past due for less than 4 months 3,300,008 2,721,633 Past due for more than 4 months 8,862,350 7,347,229 13,136,918 11,860,798 The Group allows an average credit period of 90 -120 days to its trade customers. For the overdue trade receivable, the Company did not further provide provisions during the six months ended June 30, 2018 and 2017, 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: As at As at As at January 1 1,359,255 1,280,330 Provision provided in the year - - Translation adjustment (16,927 ) 78,925 As at end of period 1,342,328 1,359,255 Among the amounts of trade receivables, $1,908,783 and $1,723,364of output VAT was included as of June 30, 2018 and December 31, 2017, respectively.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2018
Cash and cash equivalents [abstract]
CASH AND CASH EQUIVALENTS	20. CASH AND CASH EQUIVALENTS As at As at Cash on hand 29,952 16,413 Bank deposits 24,093,158 26,034,043 24,123,110 26,050,456 As at As at Renminbi 24,113,273 26,040,572 Hong Kong Dollars 8,871 8,914 United States Dollars 966 970 24,123,110 26,050,456 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 June 30, 2018 carry interest at market rates which ranged from 0.35% to 0.50% (2017: 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	6 Months Ended
	Jun. 30, 2018
Trade and other payables [abstract]
TRADE AND OTHER PAYABLES	21. TRADE AND OTHER PAYABLES As at As at Trade payables 77,269 104,258 Employee benefits payable 210,918 226,210 Other payables 1,706,817 1,648,060 Subtotal financial liabilities 1,995,004 1,978,528 Advances from customers 69,079 - Other taxes payable 3,123,541 3,473,302 5,187,624 5,451,830 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 As at Current 19,456 23,587 Past due for less than 4 months 29,257 57,637 Past due for over 4 months 28,556 23,034 77,269 104,258 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	6 Months Ended
	Jun. 30, 2018
Disclosure of transactions between related parties [abstract]
RELATED PARTIES PAYABLE	22. 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: Name Nature As at As at Yan, Keyan Borrowing of funds 425,638 154,137 425,638 154,137 Related parties payables were unsecured, non-interest bearing and repayment on demand. During 2017 and 2018, Mr. Yan provided personal guarantees for the loans as set forth in Note 23. *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 28.

Short-Term Bank Loans

Short-Term Bank Loans	6 Months Ended
	Jun. 30, 2018
Short-Term Bank Loans [Abstract]
SHORT-TERM BANK LOANS	23. SHORT-TERM BANK LOANS As at June 30, 2018 As at December 31, 2017 Secured bank borrowings 1,586,918 1,606,930 Carrying amount repayable within 1 year 1,586,918 1,606,930 The borrowings are fixed-rate and denominated in RMB. Bank loans Amount USD Period Interest rate Mortgage Personal guarantee #1 453,405 4/6/2017 4/5/2018* 6.09 % Land use right and buildings Yan, Keyan/ Chen, Bizhen #2 1,133,513 3/21/2018 3/21/2019 6.09 % Land use right and buildings Yan, Keyan/ Chen, Bizhen 1,586,918 As of June 30, 2018, Loan#1 is in default. The Company negotiated with the financial institution and extended the deadline to repay the loan. In September 2018, the loan was fully repaid.

Warrant Liabilities

Warrant Liabilities	6 Months Ended
	Jun. 30, 2018
Warrant Liabilities [Abstract]
WARRANT LIABILITIES	24. 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 - Change in fair value - Balance – June 30, 2018 - 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: June 30, December 31, Stock price $ 4.87 $ 4.14 Dividend yield N/A N/A Risk-free rate 2.11 % 1.89 % Expected term (in years) 1.08 1.58 Expected volatility 11.86 % 22.3 % The quoted price of the warrants on the over-the-counter-markets (“OTC”) were $0.001 and $0.001 as at June 30, 2018 and December 31, 2017, respectively. At June 30, 2018, there were 393,385 unexpired warrants outstanding.

Share Capital and Share Premium

Share Capital and Share Premium	6 Months Ended
	Jun. 30, 2018
Disclosure of classes of share capital [abstract]
SHARE CAPITAL AND SHARE PREMIUM	25. 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, 2017 1,986,299 $ 198 $ 6,686,170 Issuance of shares 285,000 29 1,314,135 Shares outstanding as June 30, 2018 2,271,299 227 8,000,305 Number of shares Share capital Share premium Authorized Common shares of US$0.0001 as at December 31, 2018 150,000,000 $ 15,000 $ - Issue and fully paid common shares of US$0.0001 as at December 31, 2017 1,986,299 $ 198 $ 6,686,170 Issue and fully paid common shares of US$0.0001 as at June 30, 2018 2,271,299 $ 227 $ 8,000,305 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 that occurred after the date of the most recent financial statements. 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	6 Months Ended
	Jun. 30, 2018
Reserve [Abstract]
RESERVE	26. 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 June 30, 2018 and December 31, 2017, 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.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Risk Management and Fair Values [Abstract]
FAIR VALUE MEASUREMENTS	27. FAIR VALUE MEASUREMENTS 1. 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. June 30, 2018 Level 2 December 31, 2017 Level 2 Recurring far value measurements Liabilities: Warrant liabilities - - - - During the six months ended June 30, 2018 and the year ended December 31, 2017, 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 24. 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	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	28. 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 66,476,797 67,315,108 (2) As at December 31, 2017, the Company had lease commitments as follows: As at December 31, As at As at Within 1 year 87,850 108,695 2-5 years 228,259 231,138 Thereafter 2,269,913 2,337,061 2,586,022 2,676,894 The amount of $87,850 as of June 30, 2018 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, As at As at Within 1 year 76,086 77,046 2-5 years 228,259 231,138 Thereafter 2,269,913 2,337,061 2,574,259 2,645,245 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	6 Months Ended
	Jun. 30, 2018
Events After the Balance Sheet [Abstract]
EVENTS AFTER THE BALANCE SHEET	29. EVENTS AFTER THE BALANCE SHEET The Company has evaluated subsequent events through the issuance of the condensed consolidated financial statements and no subsequent events were identified that required adjustment to the disclosure in the condensed consolidated financial statements.

Signifcant Accounting Policies

Signifcant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Signifcant Accounting Policies [Abstract]
Classification and measurement	(a) Classification and measurement IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale. The adoption of IFRS 9 has not had a significant effect on the Company’s accounting policies related to financial liabilities and derivative financial instruments. The impact of IFRS 9 on the classification and measurement of financial assets is set out below. Under IFRS 9, on initial recognition, a financial asset is classified as measured at: amortized cost; FVOCI – debt investment; FVOCI – equity investment; or FVTPL. The classification of financial assets under IFRS 9 is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. Derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: – it is held within a business model whose objective is to hold assets to collect contractual cashflows; and – its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. A debt investment is measured at FVOCI if it meets both of the following conditions and is not designated as at FVTPL: – it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and – its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVTPL. This includes all derivative financial assets. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. A financial asset (unless it is a trade receivable without a significant financing component that is initially measured at the transaction price) is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition. The following accounting policies apply to the subsequent measurement of financial assets. Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. There was no financial asset that requires reclassification and remeasurement as of January 1, 2018.
Impairment	(b) Impairment The adoption of IFRS 9 has fundamentally changed the Company’s accounting for impairment losses for financial assets by replacing IAS 39’s incurred loss approach with a forward-looking expected credit loss(“ECL”) approach. IFRS 9 requires the Company to record an allowance for ECLs for all loans and other debt financial assets not held at fair value through profit or loss (“FVPL”).

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of operating segments gross margins	By business Wholesale Retail Subcontracting Consolidated For the six months ended June 30, For the six months ended June 30, For the six months ended June 30, For the six months ended June 30, 2018 2017 2018 2017 2018 2017 2018 2017 Sales to external customers 6,961,772 8,334,042 283,499 346,051 1,106,799 899,475 8,352,070 9,579,568 Segment revenue 6,961,772 8,334,042 283,499 346,051 1,106,799 899,475 8,352,070 9,579,568 Segment gross margins/(loss) 1,618,547 1,628,544 120,885 181,986 380,203 265,413 2,119,635 2,075,942 Reconciling items (4,731,941 ) (7,289,302 ) Profit/(loss) before tax (2,612,306 ) (5,213,360 ) Income tax income/(expense) 256,512 1,244,281 Profit/(loss) for the year (2,355,794 ) (3,969,079 )
Schedule of assets and liabilities	As of June 30, 2018 Wholesale and Retail Subcontracting Unallocated Consolidated Current assets 32,760,141 6,557,774 22,337 39,340,252 Non-current assets 8,946,222 30,985,688 - 39,931,910 Total assets 41,706,363 37,543,462 22,337 79,272,162 Current liabilities 3,339,868 2,023,803 1,836,508 7,200,179 Total liabilities 3,339,868 2,023,803 1,836,508 7,200,179 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
Schedule of major suppliers purchases	For the six months ended 2018 2017 Supplier A 2,008,270 2,946,004 Supplier B 2,271,651 2,343,887 Supplier C 1,324,115 - Other suppliers 993,517 8,067,003 6,597,553 13,356,894

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue [Abstract]
Schedule of information of revenue	For the six months ended 2018 2017 Apparel -Wholesale 6,961,772 8,334,042 -Retail 283,499 346,051 Subtotal 7,245,271 8,680,093 Subcontracting 1,106,799 899,475 8,352,070 9,579,568

Other Gains and (Losses) (Table

Other Gains and (Losses) (Tables)	6 Months Ended
	Jun. 30, 2018
Other Gains and (Losses) [Abstract]
Schedule of other gains and (losses)	For the six months ended 2018 2017 Gain on disposals of property, plant and equipment - 2,463 Foreign exchange (loss)/ gain (702 ) 100 Provision / reversal of inventory obsolescence 28,616 - Bad debt provision/ (reversal) of trade receivables - (3,831,436 ) Impairment of prepayments in land purchase and related construction - - Others (14,095 ) (17,566 ) 13,819 (3,846,439 )

Finance Costs (Tables)

Finance Costs (Tables)	6 Months Ended
	Jun. 30, 2018
Finance Costs [Abstract]
Schedule of finance costs	For the six months ended 2018 2017 Interest expenses on bank borrowings wholly repayable within one year 51,185 47,342

Income Tax Income (Tables)

Income Tax Income (Tables)	6 Months Ended
	Jun. 30, 2018
Income Tax (Income)/ Expense [Abstract]
Schedule of income tax income	For the six months ended 2018 2017 PRC enterprises income tax: Current tax - Deferred tax 256,512 1,244,281 256,512 1,244,281

Loss for the Year (Tables)

Loss for the Year (Tables)	6 Months Ended
	Jun. 30, 2018
Profit for the Year [Abstract]
Schedule of profit for the year	For the six months ended 2018 2017 Cost of inventories recognized as expenses 6,211,233 7,466,903 Taxes and surcharges 21,202 36,723 6,232,435 7,503,626 Depreciation of property, plant and equipment 792,939 740,257 Amortization of land use rights 7,554 7,030 Amortization of subsidies prepaid to distributors - 432,787 Amortization of prepayments and premiums under operating leases 27,432 51,761 Provision (Reversal) of inventory obsolescence (28,616 ) (2,045 ) Provision of bad debt allowance 1,314,420 (3,831,436 ) 2,113,729 (2,601,646 )

Earnings_ (Loss) Per Share (Tab

Earnings/ (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings/ (Loss) Per Share [Abstract]
Schedule of earnings/ (loss) per share	For the six months ended 2018 2017 Basic (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (2,355,794 ) $ (3,969,079 ) Diluted (Loss)/Earnings Per Share Numerator Profit for the year attributable to owners of the Company $ (2,355,794 ) $ (3,969,079 ) Basic (Loss)/Earnings Per Share Denominator # Original shares: 1,986,299 1,767,821 Additions from actual events: - Issuance of common stock, weighted 220,442 3,311 Basic weighted average shares outstanding 2,206,741 1,771,132 Diluted (Loss)/Earnings Per Share Denominator # Basic weighted average shares outstanding 2,206,741 1,771,132 Dilutive shares: Potential additions from dilutive events: - Exercise of investor warrants* - - Diluted Weighted Average Shares Outstanding: 2,206,741 1,771,132 (Loss)/Earnings Per Share # - Basic $ (1.07 ) $ (2.24 ) - Diluted $ (1.07 ) $ (2.24 ) Weighted Average Shares Outstanding # - Basic 2,206,741 1,771,132 - Diluted 2,206,741 1,771,132 * There were no potential dilutive additions to diluted weighted shares outstanding

Properties. Plant and Equipme_2

Properties. Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2018
Property, plant and equipment [abstract]
Schedule of properties. plant and equipment	Plant Machinery Office equipment Motor Furniture and fixtures Leasehold improvements Leasehold improvements Total COST At January 1, 2017 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 Additions - - 11,974 - 8,312 - - 20,286 Disposals - - - - - - - - Translation adjustment (389,249 ) (11,557 ) (1,625 ) (1,079 ) (1,907 ) (11,156 ) (3,347 ) (419,920 ) At June 30, 2018 30,866,909 916,465 140,864 85,575 159,541 884,625 265,413 33,319,392 DEPRECIATION At January 1, 2017 (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 ) (114,762 ) - (1,558,306 ) 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 ) (577,253 ) (268,760 ) (5,894,501 ) Provided for the year (694,505 ) (7,817 ) (4,852 ) (43 ) (1,315 ) (56,667 ) - (765,199 ) Eliminated upon disposal of assets - - - - - - - - Translation adjustment 48,973 9,856 1,244 971 1,828 7,189 3,347 73,407 At June 30, 2018 (4,577,967 ) (789,363 ) (103,495 ) (77,018 ) (146,305 ) (626,731 ) (265,413 ) (6,586,292 ) CARRYING AMOUNT At December 31, 2017 27,323,723 136,620 30,628 8,708 6,318 318,528 - 27,824,524 At June 30, 2018 26,288,942 127,102 37,369 8,557 13,236 257,894 - 26,733,098
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 As at Machinery 79,700 95,826 Motor Vehicles 34 35 Office Equipment 2,628 2,661 Furniture and fixtures 729 739 83,091 99,261

Prepayments and Premiums Unde_2

Prepayments and Premiums Under Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2018
Prepayments and Premiums Under Operating Leases [Abstract]
Schedule of prepayments and premiums under operating leases	Amount At January 1, 2017 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 additions for the year 20,422 charge for the year (54,677 ) translation adjustment (13,356 ) At June 30, 2018 2,604,495
Schedule of prepayment and premium under operating lease analyzed for reporting	As at As at December 31, Current asset 87,850 83,907 Non-current asset 2,516,645 2,568,199 2,604,495 2,652,106

Prepayment for Construction o_2

Prepayment for Construction of New Plant (Tables)	6 Months Ended
	Jun. 30, 2018
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 of_2

Prepayment for Acquisition of Land Use Right (Tables)	6 Months Ended
	Jun. 30, 2018
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)	6 Months Ended
	Jun. 30, 2018
Land Use Rights [Abstract]
Schedule of land use right	Amount COST At January 1, 2017 691,618 additions for the year - translation adjustment 42,635 At December 31, 2017 734,253 additions for the year - translation adjustment (9,144 ) At June 30, 2018 725,109 AMORTIZATION At January 1, 2017 (66,724 ) charge for the year (14,307 ) translation adjustment (4,570 ) At December 31, 2017 (85,601 ) charge for the year (7,554 ) translation adjustment 1,331 At June 30, 2018 (91,824 ) CARRYING AMOUNTS At December 31, 2017 648,652 At June 30, 2018 633,285
Schedule of location	Location Expiry date of 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)	6 Months Ended
	Jun. 30, 2018
Inventories [Abstract]
Schedule of inventories	As at As at Raw materials 527,955 1,186,467 Work in process 2,851 - Finished goods 2,429,212 726,372 Provision for obsolete inventories (77,685 ) (106,627 ) 2,882,333 1,806,212

Trade Receivables, Other Rece_2

Trade Receivables, Other Receivables and Prepayments (Tables)	6 Months Ended
	Jun. 30, 2018
Trade and other receivables [abstract]
Schedule of trade receivables	As at As at Trade receivables 13,136,918 11,860,798 Bad debt provision for trade receivables (1,342,328 ) (1,359,255 ) 11,794,590 10,501,543
Schedule of other receivables	As at As at Other receivables 2,814 2,849 Prepayments 449,554 1,898,419 452,368 1,901,268
Schedule of aging analysis of trade receivables	As at As at Current 974,560 1,791,936 Past due for less than 4 months 3,300,008 2,721,633 Past due for more than 4 months 8,862,350 7,347,229 13,136,918 11,860,798
Schedule of provision for doubtful debts	As at As at As at January 1 1,359,255 1,280,330 Provision provided in the year - - Translation adjustment (16,927 ) 78,925 As at end of period 1,342,328 1,359,255

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2018
Cash and cash equivalents [abstract]
Schedule of cash and cash equivalents	As at As at Cash on hand 29,952 16,413 Bank deposits 24,093,158 26,034,043 24,123,110 26,050,456 As at As at Renminbi 24,113,273 26,040,572 Hong Kong Dollars 8,871 8,914 United States Dollars 966 970 24,123,110 26,050,456

Trade and Other Payables (Table

Trade and Other Payables (Tables)	6 Months Ended
	Jun. 30, 2018
Trade and other payables [abstract]
Schedule of trade and other payables	As at As at Trade payables 77,269 104,258 Employee benefits payable 210,918 226,210 Other payables 1,706,817 1,648,060 Subtotal financial liabilities 1,995,004 1,978,528 Advances from customers 69,079 - Other taxes payable 3,123,541 3,473,302 5,187,624 5,451,830
Schedule of aging analysis of trade payables	As at As at Current 19,456 23,587 Past due for less than 4 months 29,257 57,637 Past due for over 4 months 28,556 23,034 77,269 104,258

Related Parties Payable (Tables

Related Parties Payable (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of transactions between related parties [abstract]
Schedule of 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
Schedule of significant balances between group and related parties	Name Nature As at As at Yan, Keyan Borrowing of funds 425,638 154,137 425,638 154,137

Short-Term Bank Loans (Tables)

Short-Term Bank Loans (Tables)	6 Months Ended
	Jun. 30, 2018
Short-Term Bank Loans [Abstract]
Components of short-term bank loans	As at June 30, 2018 As at December 31, 2017 Secured bank borrowings 1,586,918 1,606,930 Carrying amount repayable within 1 year 1,586,918 1,606,930
Schedule of borrowings fixed-rate and denominated in RMB	Bank loans Amount USD Period Interest rate Mortgage Personal guarantee #1 453,405 4/6/2017 4/5/2018* 6.09 % Land use right and buildings Yan, Keyan/ Chen, Bizhen #2 1,133,513 3/21/2018 3/21/2019 6.09 % Land use right and buildings Yan, Keyan/ Chen, Bizhen 1,586,918

Warrant Liabilities (Tables)

Warrant Liabilities (Tables)	6 Months Ended
	Jun. 30, 2018
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 - Change in fair value - Balance – June 30, 2018 -
Schedule of inputs to the model	June 30, December 31, Stock price $ 4.87 $ 4.14 Dividend yield N/A N/A Risk-free rate 2.11 % 1.89 % Expected term (in years) 1.08 1.58 Expected volatility 11.86 % 22.3 %

Share Capital and Share Premi_2

Share Capital and Share Premium (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of classes of share capital [abstract]
Schedule of details share capital and share premium	Number of shares Share capital Share premium Shares outstanding as December 31, 2017 1,986,299 $ 198 $ 6,686,170 Issuance of shares 285,000 29 1,314,135 Shares outstanding as June 30, 2018 2,271,299 227 8,000,305 Number of shares Share capital Share premium Authorized Common shares of US$0.0001 as at December 31, 2018 150,000,000 $ 15,000 $ - Issue and fully paid common shares of US$0.0001 as at December 31, 2017 1,986,299 $ 198 $ 6,686,170 Issue and fully paid common shares of US$0.0001 as at June 30, 2018 2,271,299 $ 227 $ 8,000,305

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Risk Management and Fair Values [Abstract]
Schedule of recurring fair value measurements	June 30, 2018 Level 2 December 31, 2017 Level 2 Recurring far value measurements Liabilities: Warrant liabilities - - - -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2018
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 66,476,797 67,315,108
Schedule of lease commitments	As at December 31, As at As at Within 1 year 87,850 108,695 2-5 years 228,259 231,138 Thereafter 2,269,913 2,337,061 2,586,022 2,676,894 As at December 31, As at As at Within 1 year 76,086 77,046 2-5 years 228,259 231,138 Thereafter 2,269,913 2,337,061 2,574,259 2,645,245

General Information (Details)

General Information (Details)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)shares	Sep. 30, 2011shares	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 | $	$ 227	$ 198
Increased registered capital | ¥				¥ 75,000,000
Registered and paid up capital | $					$ 1,000,000

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	$ 8,352,070	$ 9,579,568
Segment revenue	8,352,070	9,579,568
Segment gross margins/(loss)	2,119,635	2,075,942
Reconciling items	(4,731,941)	(7,289,302)
(Loss)/profit before tax	(2,612,306)	(5,213,360)
Income tax income/(expense)	256,512	1,244,281
Profit/(loss) for the year	(2,355,794)	(3,969,079)	$ (14,815,596)
Wholesale revenue [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	6,961,772	8,334,042
Segment revenue	6,961,772	8,334,042
Segment gross margins/(loss)	1,618,547	1,628,544
Retail [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	283,499	346,051
Segment revenue	283,499	346,051
Segment gross margins/(loss)	120,885	181,986
Subcontracting [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Sales to external customers	1,106,799	899,475
Segment revenue	1,106,799	899,475
Segment gross margins/(loss)	$ 380,203	$ 265,413

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	$ 39,340,251	$ 40,343,386
Non-current assets	39,931,910	40,966,318
Total assets	79,272,161	81,309,704
Current liabilities	7,200,180	7,282,509
Total liabilities	7,200,180	7,282,509
Wholesale and Retail [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	32,760,141	34,036,883
Non-current assets	8,946,222	8,987,857
Total assets	41,706,363	43,024,740
Current liabilities	3,339,868	3,722,277
Total liabilities	3,339,868	3,722,277
Subcontracting [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	6,557,774	6,284,118
Non-current assets	30,985,688	31,978,462
Total assets	37,543,462	38,262,580
Current liabilities	2,023,803	1,995,164
Total liabilities	2,023,803	1,995,164
Unallocated [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Current assets	22,337	22,384
Non-current assets
Total assets	22,337	22,384
Current liabilities	1,836,508	1,565,068
Total liabilities	$ 1,836,508	$ 1,565,068

Segment Reporting (Details 2)

Segment Reporting (Details 2) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	$ 6,597,553	$ 13,356,894
Supplier A [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	2,008,270	2,946,004
Supplier B [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	2,271,651	2,343,887
Supplier C [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	1,324,115
Other suppliers [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Suppliers amount	$ 993,517	$ 8,067,003

Revenue (Details)

Revenue (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 8,352,070	$ 9,579,568
Wholesale [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	6,961,772	8,334,042
Retail [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	283,499	346,051
Subtotal [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	7,245,271	8,680,093
Subcontracting [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 1,106,799	$ 899,475

Other Gains and (Losses) (Detai

Other Gains and (Losses) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Other Gains and (Losses) [Abstract]
Gain on disposals of property, plant and equipment		$ 2,463
Foreign exchange (loss)/ gain	(702)	100
Provision / reversal of inventory obsolescence	28,616
Bad debt provision/ (reversal) of trade receivables		(3,831,436)
Impairment of prepayments in land purchase and related construction
Others	(14,095)	(17,566)
Other gains (losses)	$ 13,819	$ (3,846,439)

Finance Costs (Details)

Finance Costs (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Finance Costs [Abstract]
Interest expenses on bank borrowings wholly repayable within one year	$ 51,185	$ 47,342

Finance Costs (Details Textual)

Finance Costs (Details Textual)	Jun. 30, 2018	Dec. 31, 2017
Finance Cost (Textual)
Bank borrowings interests	6.09%	6.09%

Income Tax Income (Details)

Income Tax Income (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
PRC enterprises income tax:
Tax expense (income), continuing operations	$ 256,512	$ 1,244,281
PRC [Member]
PRC enterprises income tax:
Current tax
Deferred tax	256,512	1,244,281
Tax expense (income), continuing operations	$ 256,512	$ 1,244,281

Income Tax Income (Details Text

Income Tax Income (Details Textual)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Tax Income (Textual)
Tax rate effect of tax losses	(9.00%)	(23.00%)
Hongri Fujian and Anhui Kai Xin [Member]
Income Tax Income (Textual)
Applicable tax rate	25.00%

Loss for the Year (Details)

Loss for the Year (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Profit for the Year [Abstract]
Cost of inventories recognized as expenses	$ 6,211,233	$ 7,466,903
Taxes and surcharges	21,202	36,723
Cost of sales	6,232,435	7,503,626
Depreciation of property, plant and equipment	792,939	7,503,626
Amortization of land use rights	7,554	7,030
Amortization of subsidies prepaid to distributors		432,787
Amortization of prepayments and premiums under operating leases	27,432	51,761
Provision (Reversal) of inventory obsolescence	(28,616)	(2,045)
Provision of bad debt allowance	1,314,420	(3,831,436)
Loss for the year	$ 2,113,729	$ (2,601,646)

Earnings_ (Loss) Per Share (Det

Earnings/ (Loss) Per Share (Details) - USD ($)		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017
Basic (Loss)/Earnings Per Share Numerator
Profit for the year attributable to owners of the Company		$ (2,355,794)	$ (3,969,079)
Diluted (Loss)/Earnings Per Share Numerator
Profit for the year attributable to owners of the Company		$ (2,355,794)	$ (3,969,079)
Basic (Loss)/Earnings Per Share Denominator
Original shares:		1,986,299	1,767,821
Additions from actual events:
- Issuance of common stock, weighted		220,442	3,311
Basic weighted average shares outstanding		2,206,741	1,771,132
Diluted (Loss)/Earnings Per Share Denominator
Basic weighted average shares outstanding		2,206,741	1,771,132
Dilutive shares: Potential additions from dilutive events:
- Exercise of investor warrants	[1]
Diluted Weighted Average Shares Outstanding:		2,206,741	1,771,132
(Loss)/Earnings Per Share
-Basic		$ (1.07)	$ (2.24)
-Diluted		$ (1.07)	$ (2.24)
Weighted Average Shares Outstanding
- Basic		2,206,741	1,771,132
- Diluted		2,206,741	1,771,132
[1]	There were no potential dilutive additions to diluted weighted shares outstanding

Properties. Plant and Equipme_3

Properties. Plant and Equipment (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
COST
Beginning balance	$ 33,719,026	$ 30,890,631
Additions	20,286	981,685
Disposals		(57,541)
Translation adjustment	(419,920)	1,904,251
Ending balance	33,319,392	33,719,026
DEPRECIATION
Beginning balance	(5,894,501)	(4,131,882)
Provided for the year	(765,199)	(1,558,308)
Eliminated upon disposal of assets		50,396
Translation adjustment	73,407	(254,709)
Ending balance	(6,586,292)	(5,894,501)
CARRYING AMOUNT
Carrying Amount	26,733,098	27,824,523
Plant [Member]
COST
Beginning balance	31,256,158	28,531,542
Additions		965,792
Disposals
Translation adjustment	(389,249)	1,758,824
Ending balance	30,866,909	31,256,158
DEPRECIATION
Beginning balance	(3,932,435)	(2,406,532)
Provided for the year	(694,505)	(1,377,553)
Eliminated upon disposal of assets
Translation adjustment	48,973	(148,350)
Ending balance	(4,577,967)	(3,932,435)
CARRYING AMOUNT
Carrying Amount	26,288,942	27,323,723
Machinery [Member]
COST
Beginning balance	928,022	859,166
Additions		15,893
Disposals
Translation adjustment	(11,557)	52,963
Ending balance	916,465	928,022
DEPRECIATION
Beginning balance	(791,402)	(700,123)
Provided for the year	(7,817)	(48,120)
Eliminated upon disposal of assets
Translation adjustment	9,856	(43,159)
Ending balance	(789,363)	(791,402)
CARRYING AMOUNT
Carrying Amount	127,102	136,620
Office equipment [Member]
COST
Beginning balance	130,515	134,701
Additions	11,974
Disposals		(12,490)
Translation adjustment	(1,625)	8,304
Ending balance	140,864	130,515
DEPRECIATION
Beginning balance	(99,887)	(89,920)
Provided for the year	(4,852)	(14,495)
Eliminated upon disposal of assets		10,071
Translation adjustment	1,244	(5,543)
Ending balance	(103,495)	(99,887)
CARRYING AMOUNT
Carrying Amount	37,369	30,628
Motor vehicles [Member]
COST
Beginning balance	86,654	122,328
Additions
Disposals		(43,215)
Translation adjustment	(1,079)	7,541
Ending balance	85,575	86,654
DEPRECIATION
Beginning balance	(77,946)	(109,891)
Provided for the year	(43)	(174)
Eliminated upon disposal of assets		38,893
Translation adjustment	971	(6,774)
Ending balance	(77,018)	(77,946)
CARRYING AMOUNT
Carrying Amount	8,557	8,708
Furniture and fixtures [Member]
COST
Beginning balance	153,136	145,973
Additions	8,312
Disposals		(1,836)
Translation adjustment	(1,907)	8,999
Ending balance	159,541	153,136
DEPRECIATION
Beginning balance	(146,818)	(136,626)
Provided for the year	(1,315)	(3,202)
Eliminated upon disposal of assets		1,432
Translation adjustment	1,828	(8,422)
Ending balance	(146,305)	(146,818)
CARRYING AMOUNT
Carrying Amount	13,236	6,318
Leasehold improvements -factories and offices [Member]
COST
Beginning balance	895,781	843,767
Additions
Disposals
Translation adjustment	(11,156)	52,014
Ending balance	884,625	895,781
DEPRECIATION
Beginning balance	(577,253)	(435,636)
Provided for the year	(56,667)	(114,764)
Eliminated upon disposal of assets
Translation adjustment	7,189	(26,855)
Ending balance	(626,731)	(577,253)
CARRYING AMOUNT
Carrying Amount	257,894	318,526
Leasehold improvements -shops [Member]
COST
Beginning balance	268,760	253,154
Additions
Disposals
Translation adjustment	(3,347)	15,606
Ending balance	265,413	268,760
DEPRECIATION
Beginning balance	(268,760)	(253,154)
Provided for the year
Eliminated upon disposal of assets
Translation adjustment	3,347	(15,606)
Ending balance	(265,413)	(268,760)
CARRYING AMOUNT
Carrying Amount

Properties. Plant and Equipme_4

Properties. Plant and Equipment (Details 1)	6 Months Ended
	Jun. 30, 2018
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%
Leasehold improvements -factories and offices [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life	5 years
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	10.00%
Furniture and fixtures [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 Equipme_5

Properties. Plant and Equipment (Details 2)	6 Months Ended
	Jun. 30, 2018
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 Equipme_6

Properties. Plant and Equipment (Details 3) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	$ 83,091	$ 99,261
Motor Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	34	35
Office Equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	2,628	2,661
Machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	79,700	95,826
Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount of recognized assets cost	$ 729	$ 739

Properties. Plant and Equipme_7

Properties. Plant and Equipment (Details Textual) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 10, 2012
Property, plant and equipment [abstract]
Net exchange differences from translating from functional currency to presentation currency	$ (346,514)		$ 1,649,540
Depreciation expense	792,939	$ 740,257	1,510,213	$ 1,942,735	$ 2,015,437
Gross carrying amount of fully depreciated property, plant and equipment still in use	$ 38,367		$ 38,851
Revaluation surplus						$ 184,272

Prepayments and Premiums Unde_3

Prepayments and Premiums Under Operating Leases (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Prepayments and Premiums Under Operating Leases [Abstract]
Beginning balance	$ 2,652,106	$ 2,570,682
additions for the year	20,422	30,672
charge for the year	(54,677)	(105,340)
translation adjustment	(13,356)	156,092
Ending balance	$ 2,604,495	$ 2,652,106

Prepayments and Premiums Unde_4

Prepayments and Premiums Under Operating Leases (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Prepayments and Premiums Under Operating Leases [Abstract]
Current asset	$ 87,850	$ 83,907
Non-current asset	2,516,645	2,568,199
Total	$ 2,604,495	$ 2,652,106	$ 2,570,682

Prepayment for Construction o_3

Prepayment for Construction of New Plant (Details)	Jun. 30, 2018USD ($)
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 o_4

Prepayment for Construction of New Plant (Details Textual) - USD ($)	1 Months Ended
	Nov. 20, 2010	Jun. 30, 2018	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Prepayment for Construction of New Plant (Textual)
Consideration amount	$ 17,826,251
Recognized in construction in progress		$ 110,041
Second Phase [Member] | Construction in progress [member]
Prepayment for Construction of New Plant (Textual)
Recognized in construction in progress			$ 110,041
Amount transferred construction in progress			$ 22,960,220
Eecond and Third Phase [Member] | Construction in progress [member]
Prepayment for Construction of New Plant (Textual)
Prepayment for construction				$ 15,525,413
Recognized in construction in progress				$ 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 of_3

Prepayment for Acquisition of Land Use Right (Details)	Jun. 30, 2018USD ($)
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 of_4

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 ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
COST
Beginning balance, At January 1	$ 734,253	$ 691,618
additions for the year
translation adjustment	(9,144)	42,635
Ending balance, At December 31	725,109	734,253
AMORTIZATION
Beginning balance, At January 1	(85,601)	(66,724)
charge for the year	(7,554)	(14,307)
translation adjustment	1,331	(4,569)
Ending balance, At December 31	(91,824)	(85,601)
CARRYING AMOUNTS
Land use rights	$ 633,285	$ 648,652

Land Use Rights (Details 1)

Land Use Rights (Details 1)	6 Months Ended
	Jun. 30, 2018LandArea
Longshan Road, Economic development District, Taihu County 1 [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 2 [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)	6 Months Ended
	Jun. 30, 2018
Land Use Rights (Textual)
Land use rights, terms	50 years

Inventories (Details)

Inventories (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Inventories [Abstract]
Raw materials	$ 527,955	$ 1,186,467
Work in process	2,851
Finished goods	2,429,212	726,373
Provision for obsolete inventories	(77,685)	(106,628)
Inventories	$ 2,882,333	$ 1,806,212

Trade Receivables, Other Rece_3

Trade Receivables, Other Receivables and Prepayments (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Trade and other receivables [abstract]
Trade receivables	$ 13,136,918	$ 11,860,798
Bad debt provision for trade receivables	(1,342,328)	(1,359,255)
Trade receivables, net	$ 11,794,590	$ 10,501,543

Trade Receivables, Other Rece_4

Trade Receivables, Other Receivables and Prepayments (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Trade and other receivables [abstract]
Other receivables	$ 2,814	$ 2,849
Prepayments	449,554	1,898,419
Trade and other receivables	$ 452,368	$ 1,901,268

Trade Receivables, Other Rece_5

Trade Receivables, Other Receivables and Prepayments (Details 2) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Trade Receivables [Line Items]
Trade receivables	$ 13,136,918	$ 11,860,798
Past due for less than 4 months [Member]
Trade Receivables [Line Items]
Trade receivables	3,300,008	2,721,633
Current [Member]
Trade Receivables [Line Items]
Trade receivables	974,560	1,791,936
Past due for more than 4 months [Member]
Trade Receivables [Line Items]
Trade receivables	$ 8,862,350	$ 7,347,229

Trade Receivables, Other Rece_6

Trade Receivables, Other Receivables and Prepayments (Details 3) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Trade and other receivables [abstract]
As at January 1	$ 1,342,328	$ 1,359,255	$ 1,280,330
Provision provided in the year
Translation adjustment	(16,927)	78,925
As at end of period	$ 1,342,328	$ 1,359,255

Trade Receivables, Other Rece_7

Trade Receivables, Other Receivables and Prepayments (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Trade and other receivables [abstract]
Average credit period, description		The Group allows an average credit period of 90 -120 days to its trade customers.
Bad deb allowance
Trade receivables	$ 1,908,783	$ 1,723,364

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Cash and cash equivalents [abstract]
Cash on hand	$ 29,952	$ 16,413
Bank deposits	24,093,158	26,034,043
Cash and cash equivalents	$ 24,123,110	$ 26,050,456	$ 23,332,257	$ 24,576,341

Cash and Cash Equivalents (De_2

Cash and Cash Equivalents (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Cash And Cash Equivalent [Line Items]
Cash and cash equivalents	$ 24,123,110	$ 26,050,456	$ 23,332,257	$ 24,576,341
Hong Kong Dollars [Member]
Cash And Cash Equivalent [Line Items]
Cash and cash equivalents	8,871	8,914
Renminbi [Member]
Cash And Cash Equivalent [Line Items]
Cash and cash equivalents	24,113,273	26,040,572
United States Dollars [Member]
Cash And Cash Equivalent [Line Items]
Cash and cash equivalents	$ 966	$ 970

Cash and Cash Equivalents (De_3

Cash and Cash Equivalents (Details Textual)	Jun. 30, 2018	Dec. 31, 2017
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 ($)	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Trade and other payables [abstract]
Trade payables	$ 77,269	$ 104,258	$ 77,269
Employee benefits payable	210,918	226,210
Other payables	1,706,817	1,648,060
Subtotal financial liabilities	1,995,004	1,978,528
Advances from customers	69,079
Other taxes payable	3,123,541	3,473,302
Trade and other payables	$ 5,187,624	$ 5,451,830

Trade and Other Payables (Det_2

Trade and Other Payables (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of provision matrix [line items]
Trade payables	$ 77,269	$ 104,258	$ 77,269
Past due for less than 4 months [Member]
Disclosure of provision matrix [line items]
Trade payables	29,257	57,637
Current [Member]
Disclosure of provision matrix [line items]
Trade payables	19,456	23,587
Past due for over 4 months [Member]
Disclosure of provision matrix [line items]
Trade payables	$ 28,556	$ 23,034

Related Parties Payable (Detail

Related Parties Payable (Details)	6 Months Ended
	Jun. 30, 2018
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 (Deta_2

Related Parties Payable (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Borrowing of funds	$ 425,638	$ 154,137
Yan, Keyan [Member]
Disclosure of transactions between related parties [line items]
Borrowing of funds	$ 425,638	$ 154,137

Short-Term Bank Loans (Details)

Short-Term Bank Loans (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Short-Term Bank Loans [Abstract]
Secured bank borrowings	$ 1,586,918	$ 1,606,930
Carrying amount repayable within 1 year	$ 1,586,918

Short-Term Bank Loans (Details

Short-Term Bank Loans (Details 1) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Disclosure of detailed information about borrowings [line items]
Amount	$ 1,586,918
Interest rate	6.09%	6.09%
Yan, Keyan/ Chen, Bizhen [Member] | 3/21/2018 - 3/21/2019 [Member]
Disclosure of detailed information about borrowings [line items]
Amount	$ 1,133,513
Interest rate	6.09%
Mortgage	Land use right and buildings
Yan, Keyan/ Chen, Bizhen [Member] | 4/6/2017 - 4/5/2018 [Member]
Disclosure of detailed information about borrowings [line items]
Amount	$ 453,405
Interest rate	6.09%
Mortgage	Land use right and buildings

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($)	6 Months Ended	11 Months Ended	12 Months Ended
	Jun. 30, 2018	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	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Warrant Liabilities [Abstract]
Stock price	4.87	4.14
Dividend yield
Risk-free rate	2.11%	1.89%
Expected term (in years)	1 year 29 days	1 year 6 months 29 days
Expected volatility	11.86%	22.30%

Warrant Liabilities (Details Te

Warrant Liabilities (Details Textual)	Nov. 07, 2012USD ($)shares	Nov. 01, 2012USD ($)shares	Jun. 30, 2018$ / shares	Dec. 31, 2017$ / sharesshares	Nov. 07, 2012$ / shares	Nov. 01, 2012$ / 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	$ 0.001
Unexpired warrants outstanding				393,835

Share Capital and Share Premi_3

Share Capital and Share Premium (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Nov. 25, 2010	Jul. 08, 2008	Mar. 28, 2006	Sep. 21, 2005
Disclosure of classes of share capital [abstract]
Number of shares, Shares outstanding	1,986,299
Number of shares, Issuance of shares	285,000
Number of shares, Shares outstanding	2,271,299
Share capital, Shares outstanding	$ 198
Share capital, Issuance of shares	29
Share capital, Shares outstanding	227
Share premium, Shares outstanding	6,686,169
Share premium, Issuance of shares	1,314,135
Share premium, Shares outstanding	$ 8,000,561
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	2,271,299	1,986,299
Share capital, Authorized Common shares		$ 15,000
Share capital, Issue and fully paid common shares	$ 227	198
Share premium, Issue and fully paid common shares	$ 8,000,305	$ 6,686,170

Share Capital and Share Premi_4

Share Capital and Share Premium (Details Textual)	Jul. 10, 2017shares	Feb. 06, 2017shares	Jan. 20, 2017shares	Mar. 29, 2016USD ($)shares	Dec. 31, 2017$ / sharesshares	Jun. 30, 2018$ / sharesshares	Dec. 31, 2016$ / shares
Share Capital and Share Premium (Textual)
Prefered stock share authorized					5,000,000	5,000,000
Prefered stock par value | $ / shares					$ 0.0001	$ 0.0001
Common stock share authorized					150,000,000	150,000,000
Common stock par value | $ / shares					$ 0.0001	$ 0.0001
Share based payment amount | $				$ 429,000
Company granted and issued	215,000		57,600
Common stock reduced		26,517,329
Outstanding shares					1,986,299	2,271,299
Reverse stock split, description		1-15 reverse stock split
Issue and fully paid common shares | $ / shares					$ 0.0001		$ 0.0001
Executive officers and directors [Member]
Share Capital and Share Premium (Textual)
Common stock granted, and subsequently issued				1,100,000
February 10, 2018 [Member]
Share Capital and Share Premium (Textual)
Common stock granted, and subsequently issued					285,000
February 6 2017 [Member]
Share Capital and Share Premium (Textual)
Outstanding shares		1,767,821

Reserve (Details)

Reserve (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
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

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 25, 2012
Risk Management And Fair Values [Line Items]
Warrant liabilities				$ 3,409	$ 15,387	$ 3,432,440	$ 3,477,882
Total Liabilities	7,200,180	7,282,509
Level 2 of fair value hierarchy [member]
Risk Management And Fair Values [Line Items]
Warrant liabilities
Total Liabilities

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Statement Line Items [Line Items]
Contracted and authorized	$ 66,476,797	$ 67,315,108
RMB [Member]
Statement Line Items [Line Items]
Contracted and authorized	$ 439,850,378	$ 439,850,378

Commitments and Contingencies_3

Commitments and Contingencies (Details 1) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 2,586,022	$ 2,676,894
Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	2,574,259	2,645,245
Within 1 year [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	87,850	108,695
Within 1 year [Member] | Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	76,086	77,046
2-5 years [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	228,259	231,138
2-5 years [Member] | Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	228,259	231,138
Thereafter [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	2,269,913	2,337,061
Thereafter [Member] | Office [Member]
Commitments And Contingencies [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 2,269,913	$ 2,337,061

Commitments and Contingencies_4

Commitments and Contingencies (Details Textual)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies (Textual)
Description of leases	The amount of $87,850 as of June 30, 2018 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.