Go to company site and find the corporate presentation produced in 2013, very detailed. It also mentioned that CXDC and Kaifa market shares are almost neck to neck, occupying the1 & 2 position in the top 10 manufactures of plastics in China. The SeekingAlpha article used Kaifa to denounce CXDC and claimed CXDC a fraud, I suspect that the author of SA is either a short or related to Kaifa.
The SA author also had an article dated 2011 to claim CXDC as a fraud. The complex corporate structure of CXDC is to take advantage of China government policy to encourage foreign investment, China offer tax incentive to companies in economy zone and foreign companies investing in China. CXDC set up its corporate structure as a foreign company, therefore its financial statements filed to China and US show discrepancy in tax and incomes.