10-Q/A Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q2 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-12-005647`
Period End Date	20110630
Filing Date	20120203
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	gprc-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 76 Cash Flow Statement 54

Balance Sheet 58 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.45M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$782.03K	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$2.28M	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`	$2.84M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.11K	USD	Point-in-time
Inventories	`InventoryNet`	$9.26M	USD	Point-in-time
Inventories	`InventoryNet`	$10.72M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$473.90K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$167.28K	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`	$27.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.43M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.89M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.12M	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$668.86K	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`	$203.97K	USD	Point-in-time
Total assets	`Assets`	$34.18M	USD	Point-in-time
Total assets	`Assets`	$33.38M	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$775.75K	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	$3.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.80M	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$721.57K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$637.15K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$1.14M	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$905.62K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.17M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$880.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.52M	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`	$22.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.84M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.74M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.20M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$25.86M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$19.15M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$33.38M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.18M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$15.76M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$29.90M	USD	2 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$9.12M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$18.61M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$12.46M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$10.66M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$6.29M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$20.57M	USD	2 Qtrs
Gross profit	`GrossProfit`	$9.33M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.15M	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$115.15K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$108.18K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$203.94K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$59.68K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$410.65K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$428.96K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$972.73K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$731.30K	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$544.11K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$839.48K	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$470.34K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$1.18M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$5.31M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.36M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.15M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.55M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.58K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$47.41K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$24.44K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$16.83K	USD	2 Qtrs
Interest expenses	`InterestExpense`	$7.78K	USD	1 Quarter
Interest expenses	`InterestExpense`	$25.21K	USD	2 Qtrs
Interest expenses	`InterestExpense`	$41.79K	USD	2 Qtrs
Interest expenses	`InterestExpense`	$21.63K	USD	1 Quarter
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$131.12K	USD	2 Qtrs
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$14.45K	USD	1 Quarter
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$12.14K	USD	2 Qtrs
Exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$59.83K	USD	1 Quarter
Others	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Others	`OtherNonoperatingIncomeExpense`	$10.40K	USD	1 Quarter
Others	`OtherNonoperatingIncomeExpense`	$10.40K	USD	2 Qtrs
Others	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.36M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.64M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.32M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.30M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.42M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.18M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$686.96K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$2.15M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.17M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.17M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.45M	USD	1 Quarter
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$67.05K	USD	2 Qtrs
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$326.35K	USD	1 Quarter
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$64.21K	USD	1 Quarter
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$543.53K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.94M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.71M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.74M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.78M	USD	1 Quarter
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.20	USD	2 Qtrs
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.09	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
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.31	USD	2 Qtrs
Weighted average number of share of common stock used in computing basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfSharesOfCommonStockUsedInComputingBasicAndDilutedEarningsPerShare`	20.00M	shares	2 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	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.17M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.45M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$261.62K	USD	2 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$198.16K	USD	2 Qtrs
Amortization of land use right	`AdjustmentForAmortization`	$7.43K	USD	2 Qtrs
Amortization of land use right	`AdjustmentForAmortization`	$7.13K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.80M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$319.68K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-314.69K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-181.96K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-4.16M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.69M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.16M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.67M	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$50.30K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-98.72K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$269.08K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$212.28K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$645.02K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.69M	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-1.53M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.81K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$372.12K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.81K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.16M	USD	2 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$398.78K	USD	2 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$232.37K	USD	2 Qtrs
New bank borrowings	`ProceedsFromBankDebt`	$1.42M	USD	2 Qtrs
New bank borrowings	`ProceedsFromBankDebt`	$766.80K	USD	2 Qtrs
Repayment of bank borrowings	`RepaymentsOfBankDebt`	$3.76M	USD	2 Qtrs
Repayment of bank borrowings	`RepaymentsOfBankDebt`	$1.42M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.76M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$398.78K	USD	2 Qtrs
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$338.59K	USD	2 Qtrs
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$56.34K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.15M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-614.90K	USD	2 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`	$10.45M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.33M	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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.45M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.33M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Interest received	`ProceedsFromInterestReceived`	$16.83K	USD	2 Qtrs
Interest received	`ProceedsFromInterestReceived`	$25.21K	USD	2 Qtrs
Interest paid	`InterestPaid`	$41.79K	USD	2 Qtrs
Interest paid	`InterestPaid`	$25.29K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.88M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.21M	USD	2 Qtrs

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