10-Q Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-064396`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	gprc-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 76 Cash Flow Statement 62

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.08M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$2.28M	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.11K	USD	Point-in-time
Inventories	`InventoryNet`	$10.72M	USD	Point-in-time
Inventories	`InventoryNet`	$11.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$473.90K	USD	Point-in-time
Amount due from director	`DueFromRelatedPartiesCurrent`	$1.29K	USD	Point-in-time
Amount due from director	`DueFromRelatedPartiesCurrent`	$1.29K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.70M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.89M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.49M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	-	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$1.24M	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$677.31K	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$660.94K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$201.58K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$206.53K	USD	Point-in-time
Total assets	`Assets`	$39.31M	USD	Point-in-time
Total assets	`Assets`	$34.18M	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$3.72M	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.81M	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$485.93K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$721.57K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$905.62K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$1.22M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.14M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$880.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.04M	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 20,000,006 shares issued and outstanding	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 20,000,006 shares issued and outstanding	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.29M	USD	Point-in-time
PRC statutory reserves	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	$805.48K	USD	Point-in-time
PRC statutory reserves	`StatutoryAccountingPracticesStatutoryCapitalAndSurplusBalance`	$805.48K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$25.38M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.84M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.27M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.20M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$19.15M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$29.76M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.18M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$39.31M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$46.58M	USD	3 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$33.59M	USD	3 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$16.68M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$14.98M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$22.45M	USD	3 Qtrs
Cost of revenue	`CostOfGoodsSold`	$9.99M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$11.72M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$32.29M	USD	3 Qtrs
Gross profit	`GrossProfit`	$14.29M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.99M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.14M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.96M	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$69.97K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$178.15K	USD	3 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$95.29K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$299.23K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.40M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$431.32K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$229.66K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$960.96K	USD	3 Qtrs
Operating Expenses	`OperatingExpenses`	$1.70M	USD	3 Qtrs
Operating Expenses	`OperatingExpenses`	$1.14M	USD	3 Qtrs
Operating Expenses	`OperatingExpenses`	$526.60K	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$299.63K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.69M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.00M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.43M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.58M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$22.89K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$70.30K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$20.58K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$3.75K	USD	1 Quarter
Interest expense	`InterestExpense`	$21.82K	USD	1 Quarter
Interest expense	`InterestExpense`	$63.61K	USD	3 Qtrs
Interest expense	`InterestExpense`	$28.67K	USD	3 Qtrs
Interest expense	`InterestExpense`	$3.45K	USD	1 Quarter
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$20.77K	USD	1 Quarter
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$198.61K	USD	3 Qtrs
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$67.48K	USD	1 Quarter
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$32.90K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$10.40K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.99M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.83M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.52M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.70M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$3.29M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.14M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$2.57M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.54M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.42M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$9.54M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.42M	USD	3 Qtrs
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$527.20K	USD	1 Quarter
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$202.86K	USD	1 Quarter
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.07M	USD	3 Qtrs
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$269.91K	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.75M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.62M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.69M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.90M	USD	1 Quarter
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.37	USD	3 Qtrs
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.48	USD	3 Qtrs
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.18	USD	1 Quarter
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Weighted average number of share of common stock used in computing basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfSharesOfCommonStockUsedInComputingBasicAndDilutedEarningsPerShare`	20.00M	shares	3 Qtrs
Weighted average number of share of common stock used in computing basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfSharesOfCommonStockUsedInComputingBasicAndDilutedEarningsPerShare`	20.00M	shares	1 Quarter
Weighted average number of share of common stock used in computing basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfSharesOfCommonStockUsedInComputingBasicAndDilutedEarningsPerShare`	20.00M	shares	1 Quarter
Weighted average number of share of common stock used in computing basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfSharesOfCommonStockUsedInComputingBasicAndDilutedEarningsPerShare`	20.00M	shares	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.54M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.42M	USD	3 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$414.71K	USD	3 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$303.46K	USD	3 Qtrs
Amortization of land use right	`AdjustmentForAmortization`	$11.22K	USD	3 Qtrs
Amortization of land use right	`AdjustmentForAmortization`	$10.74K	USD	3 Qtrs
Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.12K	USD	3 Qtrs
Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-46.72K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$938.37K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.42M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-168.15K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$545.86K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-3.08M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-117.49K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.26M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.43M	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-258.18K	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$556.87K	USD	3 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$668.11K	USD	3 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$216.93K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.69M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.02M	USD	3 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	3 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-2.32M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.82M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$549.82K	USD	3 Qtrs
Payments on construction in progress	`PaymentsForConstructionInProcess`	-	USD	3 Qtrs
Payments on construction in progress	`PaymentsForConstructionInProcess`	$1.21M	USD	3 Qtrs
Proceeds on disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	3 Qtrs
Proceeds on disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.54K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-701.31K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-549.82K	USD	3 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$461.73K	USD	3 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$314.92K	USD	3 Qtrs
New bank borrowings	`ProceedsFromBankDebt`	$1.42M	USD	3 Qtrs
New bank borrowings	`ProceedsFromBankDebt`	$772.20K	USD	3 Qtrs
Repayment of bank borrowings	`RepaymentsOfBankDebt`	$4.56M	USD	3 Qtrs
Repayment of bank borrowings	`RepaymentsOfBankDebt`	$1.42M	USD	3 Qtrs
Amount due from an unrelated third party	`AmountDueFromUnrelatedThirdParty`	-	USD	3 Qtrs
Amount due from an unrelated third party	`AmountDueFromUnrelatedThirdParty`	$741.18K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-279.45K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.47M	USD	3 Qtrs
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$618.20K	USD	3 Qtrs
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$210.44K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.40M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$140.76K	USD	3 Qtrs
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.71M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.08M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.71M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.08M	USD	Point-in-time
Interest received	`ProceedsFromInterestReceived`	$20.53K	USD	3 Qtrs
Interest received	`ProceedsFromInterestReceived`	$70.30K	USD	3 Qtrs
Interest paid	`InterestPaid`	$63.35K	USD	3 Qtrs
Interest paid	`InterestPaid`	$28.67K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.90M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$3.07M	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.