excluding the effects of stock award expenses , which were $ 22,379,220 and $ 8,455,422 for the years ended december 31 , 2015 and 2014 , respectively , and the change of the fair value of financial derivatives , which were a gain of $ 8,519,295 and $ 6,531,308 for the years ended december 31 , 2015 and 2014 , respectively , our net income ( non-gaap ) was $ 28,525,420 for the year ended december 31 , 2015 as compared to net income ( non-gaap ) of $ 14,195,452 for the year ended december 31 , 2014 , an increase of $ 14,329,968 or 100.9 % . the increase in such net income was primarily attributable to the increase of revenue and gross profits , and also the share profits of the jv company during the year of 2015 . 29 the vehicle manufacturing industry is highly competitive in china . current and future factors impacting our industry include : ( i ) the exponential growth of electrical vehicle sales and dedicated platforms in the global market place , ( ii ) the consolidation of supply chains and costs of components , ( iii ) rapid technology developments , and ( iv ) emerging strategic partnerships and joint ventures in the automotive industry generally . our business strategy includes our efforts to provide customers with high-quality products , to expand our footprint in new and existing markets , and to advance our profile and the demand for our ev products through the mpt project and direct sales channel . to further these initiatives , we are working with our business partners to build a network of public ev sharing stations to provide energy-efficient , convenient travel options for local citizens and tourists . we also provide the ev products to the end users through our distriutors . we anticipate that our pure ev business in china , through the operations of the jv company and with the support of new chinese subsidy policies , will continue to develop and grow in the future . results of operations comparison of years ended december 31 , 2015 , 2014 and 2013 the following table sets forth the amounts and the percentage relationship to revenues of certain items in our consolidated statements of income for the years ended december 31 , 2015 , 2014 and 2013 : replace_table_token_9_th 30 revenues for the year ended december 31 , 2015 , we had net revenues of $ 201,069,173 compared to net revenues of $ 170,229,006 for the year ended december 31 , 2014 and $ 94,536,045 for the year ended december 31 , 2013 , representing an increase of $ 30,840,167 , or 18.1 % , from 2014 and an increase of $ 106,533,128 , or 112.7 % , from 2013 , respectively . our products include ev parts , ev products , and off-road vehicles , including atvs , utility vehicles ( utvs ) , go-karts , and others . for the year ended december 31 , 2015 , 2014 and 2013 , 98 % , 95 % and 90 % , respectively , of our revenues were derived from the sales of our products in the people 's republic of china ( the prc ) . the following table summarizes our revenues as well as the number of units sold by product types for the years ended december 31 , 2015 , 2014 and 2013 : replace_table_token_10_th ev parts during the year ended december 31 , 2015 , our revenues from the sale of ev parts were $ 196,053,058 , representing an increase of $ 79,621,749 or 68.4 % from $ 116,431,309 for the year ended december 31 , 2014 and an increase of $ 194,329,027 or 11,271.8 % from $ 1,724,031 for the year ended december 31 , 2013 , respectively . our revenue for the year ended december 31 , 2015 primarily consisted of the sales of battery packs , body parts , ev drive motors , ev controllers , air conditioning units and other auto parts to the jv company for manufacturing of ev products , which was 97.5 % of the total sales . among the total sales for the year ended december 31 , 2015 , approximately 83.5 % , or the majority of the sales , were related to the sale of battery packs . due to the chinese auto industry regulation , we hold the necessary production license to manufacture the battery packs exclusively used in ev products manufactured by the jv company under kandi brand name . besides the sale of battery packs , approximately 6.3 % of the total sales were related to the sales of ev controllers , approximately 2.7 % of the total sales were related to the sales of air conditioning units , approximately 2.8 % of the total sales were related to the sales of ev drive motors and approximately 2.2 % of the total sales were related to the sales of body parts and other auto parts . during the year ended december 31 , 2015 , our revenues from the sale of ev parts to the jv company accounted approximately 97.5 % of our total net revenue for the year . for the year ended december 31 , 2015 , the majority of ev parts sold to the jv companies and its subsideries , including approximately 33.7 % of the sales were to the jv company , approximately 21.9 % of the sales were to kandi changxing , approximately 19.7 % of the sales were to kandi shanghai , and approximately 0.4 % of the sales were to kandi jinhua . these ev parts were used in manufacturing pure ev products by the jv company 's subsidiaries , all of which were sold to shanghai maple auto co. , ltd. ( shanghai maple ) . story_separator_special_tag the following table summarizes our non-gaap net income from continuing operations for the years ended december 31 , 2015 , 2014 and 2013 : 36 replace_table_token_13_th story_separator_special_tag align= `` right `` valign= `` bottom `` width= `` 12 % `` > interest rate 6.00 % per annum , paid off on october 13 , 2015 , secured by the assets of the company . also see note 14 and note 15 . - 7,930,446 interest rate 4.60 % per annum , due october 13 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 7,516,134 - interest rate 6.00 % per annum , paid off on july 9 , 2015 , secured by the assets of the company . also see note 14 and note 15 . - 11,733,160 interest rate 4.82 % per annum , due july 2 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 7,700,956 - interest rate 4.85 % per annum , due july 12 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 3,419,225 - interest rate at 5.35 % per annum , due march 23 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 6,006,746 - $ 36,656,553 $ 35,589,502 guarantees and pledged collateral for third party bank loans as of december 31 , 2015 and 2014 , we provided guarantees for the following third parties : ( 1 ) guarantees for bank loans 40 replace_table_token_16_th on march 15 , 2013 , the company entered into a guarantee contract to serve as the guarantor of ngcl from march 15 , 2016 to march 15 , 2018 for ngcl 's loan amount of $ 3,080,383 from shanghai pudong development bank jinhua branch with related loan period from march 15 , 2013 to march 15 , 2016. ngcl is not related to the company . under this guarantee contract , the company agreed to perform all obligations of ngcl under the loan contract if ngcl fails to perform its obligations as set forth therein . on july 20,2015 , the company entered into a guarantee contract to serve as the guarantor for the jv company from july 20 , 2016 to july 19,2018 for the bank loans of $ 11,551,434 from bank of china with related loan period from july 20,2015 to july 19 , 2016. under this guarantee contract , the company agreed to perform all obligations of the jv company under the loan contract if the jv company fails to perform its obligations as set forth therein . on september 29 , 2015 , the company entered into a guarantee contract to serve as the guarantor of zhejiang shuguang industrial co. , ltd. ( zsicl ) from september 29 , 2015 to september 28 , 2018 for the bank loan amount of $ 4,466,555 from ping an bank with related loan period from september 29 , 2015 to september 28 , 2016. zsicl is not related to the company . under these guarantee contracts , the company agreed to perform all obligations of zsicl under the loan contracts if zsicl fails to perform its obligations as set forth therein . on december 14,2015 , the company entered into a guarantee contract to serve as the guarantor for the jv company from december 14,2016 to december 13,2018 for the bank loans of $ 38,504,782 from b china import & export bank with related loan period from december 14,2015 to december 13,2016. under this guarantee contract , the company agreed to perform all obligations of the jv company under the loan contract if the jv company fails to perform its obligations as set forth therein . ( 2 ) pledged collateral for a third party bank loans as of december 31 , 2015 and 2014 , none of our land use rights or plant and equipment were pledged as collateral securing bank loans to third parties . critical accounting policies and related estimates that could have a material effect on our consolidated financial statements this section should be read together with the summary of significant accounting policies in the attached consolidated financial statements included in this annual report . 41 estimates affecting accounts receivable and inventories the preparation of our consolidated financial statements requires management to make estimates and assumptions that affect our reporting of assets and liabilities ( and contingent assets and liabilities ) . these estimates are particularly significant where they affect the reported net realizable value of our accounts receivable and inventories . accounts receivable are recognized and carried at net realizable value . an allowance for doubtful accounts is recorded in the period when a loss is probable based on an assessment of specific factors , such as troubled collection , historical experience , accounts aging , ongoing business relations and other factors . accounts are written off after exhaustive efforts at collection . if accounts receivable are to be provided for , or written off , they would be recognized in the consolidated statement of operations within operating expenses . we had an allowance for doubtful accounts of $ 0 for the years ended december 31 , 2015 and 2014 , in accordance with our management 's judgment based on their best knowledge . inventory is stated at the lower of cost , determined on a weighted average basis , or net realizable value . net realizable value is the estimated selling price in the ordinary course of business less the estimated cost of completion and the estimated costs necessary to make the sale . adjustments to reduce the cost of inventory to its net realizable value are made , if required , for estimated excess , obsolescence , or impaired balances . when inventories are sold , their carrying amount is charged to expense in the year in which the

liquidity and capital resources cash flow for the year ended december 31 , 2015 , cash used in operating activities was $ 3,130,976 , as compared to cash used in operating activities of $ 7,453,756 for the year ended december 31 , 2014 and cash provided by operating activities of $ 14,687,446 for the year ended december 31 , 2013. the major operating activities that provided cash for the year ended december 31 , 2015 were net income of $ 14,665,495 , an increase in accounts payable of $ 31,814,545 and a decrease in accounts receivable of $ 7,052,626. the major operating activity that used cash for the year ended december 31 , 2015 was an increase in receivables from the jv company of $ 28,519,360. cash used in investing activities for the year ended december 31 , 2015 was $ 5,937,117 , as compared to cash used in investing activities of $ 50,108,255 and $ 59,844,162 for the years ended december 31 , 2014 and 2013 , respectively . cash provided by investing activities for the year ended december 31 , 2015 was primarily the result of the repayment of notes receivable of $ 127,226,115. cash used in investing activities for the year ended december 31 , 2015 was primarily the result of the purchases of construction in progress of $ 1,128,443 and the issuance of notes receivable of $ 131,852,319. cash used by financing activities for the year ended december 31 , 2015 was $ 2,578,164 , as compared to cash provided by financing activities of $ 72,775,040 and $ 46,317,978 for the years ended december 31 , 2014 and 2013 , respectively .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources cash flow for the year ended december 31 , 2015 , cash used in operating activities was $ 3,130,976 , as compared to cash used in operating activities of $ 7,453,756 for the year ended december 31 , 2014 and cash provided by operating activities of $ 14,687,446 for the year ended december 31 , 2013. the major operating activities that provided cash for the year ended december 31 , 2015 were net income of $ 14,665,495 , an increase in accounts payable of $ 31,814,545 and a decrease in accounts receivable of $ 7,052,626. the major operating activity that used cash for the year ended december 31 , 2015 was an increase in receivables from the jv company of $ 28,519,360. cash used in investing activities for the year ended december 31 , 2015 was $ 5,937,117 , as compared to cash used in investing activities of $ 50,108,255 and $ 59,844,162 for the years ended december 31 , 2014 and 2013 , respectively . cash provided by investing activities for the year ended december 31 , 2015 was primarily the result of the repayment of notes receivable of $ 127,226,115. cash used in investing activities for the year ended december 31 , 2015 was primarily the result of the purchases of construction in progress of $ 1,128,443 and the issuance of notes receivable of $ 131,852,319. cash used by financing activities for the year ended december 31 , 2015 was $ 2,578,164 , as compared to cash provided by financing activities of $ 72,775,040 and $ 46,317,978 for the years ended december 31 , 2014 and 2013 , respectively .
```    
 Suspicious Activity Report : excluding the effects of stock award expenses , which were $ 22,379,220 and $ 8,455,422 for the years ended december 31 , 2015 and 2014 , respectively , and the change of the fair value of financial derivatives , which were a gain of $ 8,519,295 and $ 6,531,308 for the years ended december 31 , 2015 and 2014 , respectively , our net income ( non-gaap ) was $ 28,525,420 for the year ended december 31 , 2015 as compared to net income ( non-gaap ) of $ 14,195,452 for the year ended december 31 , 2014 , an increase of $ 14,329,968 or 100.9 % . the increase in such net income was primarily attributable to the increase of revenue and gross profits , and also the share profits of the jv company during the year of 2015 . 29 the vehicle manufacturing industry is highly competitive in china . current and future factors impacting our industry include : ( i ) the exponential growth of electrical vehicle sales and dedicated platforms in the global market place , ( ii ) the consolidation of supply chains and costs of components , ( iii ) rapid technology developments , and ( iv ) emerging strategic partnerships and joint ventures in the automotive industry generally . our business strategy includes our efforts to provide customers with high-quality products , to expand our footprint in new and existing markets , and to advance our profile and the demand for our ev products through the mpt project and direct sales channel . to further these initiatives , we are working with our business partners to build a network of public ev sharing stations to provide energy-efficient , convenient travel options for local citizens and tourists . we also provide the ev products to the end users through our distriutors . we anticipate that our pure ev business in china , through the operations of the jv company and with the support of new chinese subsidy policies , will continue to develop and grow in the future . results of operations comparison of years ended december 31 , 2015 , 2014 and 2013 the following table sets forth the amounts and the percentage relationship to revenues of certain items in our consolidated statements of income for the years ended december 31 , 2015 , 2014 and 2013 : replace_table_token_9_th 30 revenues for the year ended december 31 , 2015 , we had net revenues of $ 201,069,173 compared to net revenues of $ 170,229,006 for the year ended december 31 , 2014 and $ 94,536,045 for the year ended december 31 , 2013 , representing an increase of $ 30,840,167 , or 18.1 % , from 2014 and an increase of $ 106,533,128 , or 112.7 % , from 2013 , respectively . our products include ev parts , ev products , and off-road vehicles , including atvs , utility vehicles ( utvs ) , go-karts , and others . for the year ended december 31 , 2015 , 2014 and 2013 , 98 % , 95 % and 90 % , respectively , of our revenues were derived from the sales of our products in the people 's republic of china ( the prc ) . the following table summarizes our revenues as well as the number of units sold by product types for the years ended december 31 , 2015 , 2014 and 2013 : replace_table_token_10_th ev parts during the year ended december 31 , 2015 , our revenues from the sale of ev parts were $ 196,053,058 , representing an increase of $ 79,621,749 or 68.4 % from $ 116,431,309 for the year ended december 31 , 2014 and an increase of $ 194,329,027 or 11,271.8 % from $ 1,724,031 for the year ended december 31 , 2013 , respectively . our revenue for the year ended december 31 , 2015 primarily consisted of the sales of battery packs , body parts , ev drive motors , ev controllers , air conditioning units and other auto parts to the jv company for manufacturing of ev products , which was 97.5 % of the total sales . among the total sales for the year ended december 31 , 2015 , approximately 83.5 % , or the majority of the sales , were related to the sale of battery packs . due to the chinese auto industry regulation , we hold the necessary production license to manufacture the battery packs exclusively used in ev products manufactured by the jv company under kandi brand name . besides the sale of battery packs , approximately 6.3 % of the total sales were related to the sales of ev controllers , approximately 2.7 % of the total sales were related to the sales of air conditioning units , approximately 2.8 % of the total sales were related to the sales of ev drive motors and approximately 2.2 % of the total sales were related to the sales of body parts and other auto parts . during the year ended december 31 , 2015 , our revenues from the sale of ev parts to the jv company accounted approximately 97.5 % of our total net revenue for the year . for the year ended december 31 , 2015 , the majority of ev parts sold to the jv companies and its subsideries , including approximately 33.7 % of the sales were to the jv company , approximately 21.9 % of the sales were to kandi changxing , approximately 19.7 % of the sales were to kandi shanghai , and approximately 0.4 % of the sales were to kandi jinhua . these ev parts were used in manufacturing pure ev products by the jv company 's subsidiaries , all of which were sold to shanghai maple auto co. , ltd. ( shanghai maple ) . story_separator_special_tag the following table summarizes our non-gaap net income from continuing operations for the years ended december 31 , 2015 , 2014 and 2013 : 36 replace_table_token_13_th story_separator_special_tag align= `` right `` valign= `` bottom `` width= `` 12 % `` > interest rate 6.00 % per annum , paid off on october 13 , 2015 , secured by the assets of the company . also see note 14 and note 15 . - 7,930,446 interest rate 4.60 % per annum , due october 13 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 7,516,134 - interest rate 6.00 % per annum , paid off on july 9 , 2015 , secured by the assets of the company . also see note 14 and note 15 . - 11,733,160 interest rate 4.82 % per annum , due july 2 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 7,700,956 - interest rate 4.85 % per annum , due july 12 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 3,419,225 - interest rate at 5.35 % per annum , due march 23 , 2016 , secured by the assets of the company . also see note 14 and note 15 . 6,006,746 - $ 36,656,553 $ 35,589,502 guarantees and pledged collateral for third party bank loans as of december 31 , 2015 and 2014 , we provided guarantees for the following third parties : ( 1 ) guarantees for bank loans 40 replace_table_token_16_th on march 15 , 2013 , the company entered into a guarantee contract to serve as the guarantor of ngcl from march 15 , 2016 to march 15 , 2018 for ngcl 's loan amount of $ 3,080,383 from shanghai pudong development bank jinhua branch with related loan period from march 15 , 2013 to march 15 , 2016. ngcl is not related to the company . under this guarantee contract , the company agreed to perform all obligations of ngcl under the loan contract if ngcl fails to perform its obligations as set forth therein . on july 20,2015 , the company entered into a guarantee contract to serve as the guarantor for the jv company from july 20 , 2016 to july 19,2018 for the bank loans of $ 11,551,434 from bank of china with related loan period from july 20,2015 to july 19 , 2016. under this guarantee contract , the company agreed to perform all obligations of the jv company under the loan contract if the jv company fails to perform its obligations as set forth therein . on september 29 , 2015 , the company entered into a guarantee contract to serve as the guarantor of zhejiang shuguang industrial co. , ltd. ( zsicl ) from september 29 , 2015 to september 28 , 2018 for the bank loan amount of $ 4,466,555 from ping an bank with related loan period from september 29 , 2015 to september 28 , 2016. zsicl is not related to the company . under these guarantee contracts , the company agreed to perform all obligations of zsicl under the loan contracts if zsicl fails to perform its obligations as set forth therein . on december 14,2015 , the company entered into a guarantee contract to serve as the guarantor for the jv company from december 14,2016 to december 13,2018 for the bank loans of $ 38,504,782 from b china import & export bank with related loan period from december 14,2015 to december 13,2016. under this guarantee contract , the company agreed to perform all obligations of the jv company under the loan contract if the jv company fails to perform its obligations as set forth therein . ( 2 ) pledged collateral for a third party bank loans as of december 31 , 2015 and 2014 , none of our land use rights or plant and equipment were pledged as collateral securing bank loans to third parties . critical accounting policies and related estimates that could have a material effect on our consolidated financial statements this section should be read together with the summary of significant accounting policies in the attached consolidated financial statements included in this annual report . 41 estimates affecting accounts receivable and inventories the preparation of our consolidated financial statements requires management to make estimates and assumptions that affect our reporting of assets and liabilities ( and contingent assets and liabilities ) . these estimates are particularly significant where they affect the reported net realizable value of our accounts receivable and inventories . accounts receivable are recognized and carried at net realizable value . an allowance for doubtful accounts is recorded in the period when a loss is probable based on an assessment of specific factors , such as troubled collection , historical experience , accounts aging , ongoing business relations and other factors . accounts are written off after exhaustive efforts at collection . if accounts receivable are to be provided for , or written off , they would be recognized in the consolidated statement of operations within operating expenses . we had an allowance for doubtful accounts of $ 0 for the years ended december 31 , 2015 and 2014 , in accordance with our management 's judgment based on their best knowledge . inventory is stated at the lower of cost , determined on a weighted average basis , or net realizable value . net realizable value is the estimated selling price in the ordinary course of business less the estimated cost of completion and the estimated costs necessary to make the sale . adjustments to reduce the cost of inventory to its net realizable value are made , if required , for estimated excess , obsolescence , or impaired balances . when inventories are sold , their carrying amount is charged to expense in the year in which the

