10-K Filing

GUANWEI RECYCLING CORP. CIK: 1425715 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001144204-12-018804`
Period End Date	20111231
Filing Date	20120330
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	gprc-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 54 Stockholders Equity 11

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsCurrent`	$2.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$4.48M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.11K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Inventories	`InventoryNet`	$16.86M	USD	Point-in-time
Inventories	`InventoryNet`	$10.72M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.10M	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$475.19K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.87M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$8.15M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.89M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$174.29K	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	-	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$673.76K	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$660.94K	USD	Point-in-time
Others	`OtherAssetsNoncurrent`	$201.58K	USD	Point-in-time
Others	`OtherAssetsNoncurrent`	$205.44K	USD	Point-in-time
Total Assets	`Assets`	$45.08M	USD	Point-in-time
Total Assets	`Assets`	$34.18M	USD	Point-in-time
Short term borrowings	`ShortTermBorrowings`	-	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`	$8.74M	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$714.07K	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`	$1.47M	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`	$12.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.04M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	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`	$15.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$28.63M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.20M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.26M	USD	Point-in-time
Total Shareholders' equity	`StockholdersEquity`	$8.67M	USD	Point-in-time
Total Shareholders' equity	`StockholdersEquity`	$19.15M	USD	Point-in-time
Total Shareholders' equity	`StockholdersEquity`	$33.01M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$45.08M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$34.18M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net Revenue	`SalesRevenueGoodsNet`	$47.53M	USD	Annual
Net Revenue	`SalesRevenueGoodsNet`	$63.60M	USD	Annual
Cost of Revenue	`CostOfGoodsSold`	$44.11M	USD	Annual
Cost of Revenue	`CostOfGoodsSold`	$32.18M	USD	Annual
Gross profit	`GrossProfit`	$19.49M	USD	Annual
Gross profit	`GrossProfit`	$15.36M	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$398.51K	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$346.41K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.90M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.57M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$17.19M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$13.44M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$28.70K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$88.25K	USD	Annual
Interest expense	`InterestExpense`	$85.47K	USD	Annual
Interest expense	`InterestExpense`	$29.08K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.25M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.38M	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	$4.45M	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	$3.46M	USD	Annual
Net income	`NetIncomeLoss`	$12.79M	USD	Annual
Net income	`NetIncomeLoss`	$9.93M	USD	Annual
Net income	`NetIncomeLoss`	$12.79M	USD	Annual
Net income	`NetIncomeLoss`	$9.93M	USD	Annual
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.07M	USD	Annual
- Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$488.68K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.86M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.42M	USD	Annual
Earnings per share attributable to shareholders of Guanwei Recycling Corp.-basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.50	USD	Annual
Earnings per share attributable to shareholders of Guanwei Recycling Corp.-basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.64	USD	Annual
Weighted average number of shares of common stock used in computing basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfSharesOfCommonStockUsedInComputingBasicAndDilutedEarningsPerShare`	20.00M	shares	Annual
Weighted average number of shares of common stock used in computing basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfSharesOfCommonStockUsedInComputingBasicAndDilutedEarningsPerShare`	20.00M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.79M	USD	Annual
Net income	`NetIncomeLoss`	$9.93M	USD	Annual
Depreciation of property, plant and equipment	`Depreciation`	$438.56K	USD	Annual
Depreciation of property, plant and equipment	`Depreciation`	$600.07K	USD	Annual
Amortization of land use right	`AdjustmentForAmortization`	$14.39K	USD	Annual
Amortization of land use right	`AdjustmentForAmortization`	$15.07K	USD	Annual
Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-72.17K	USD	Annual
Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.47K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.79K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.40M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.76M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$8.37M	USD	Annual
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$36.19K	USD	Annual
Prepayments and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.59M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.65K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.34M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.36K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-35.83K	USD	Annual
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$252.23K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$223.41K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$391.52K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.24M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.66M	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$584.47K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.85M	USD	Annual
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.95K	USD	Annual
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.56K	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-578.52K	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.84M	USD	Annual
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-2.34M	USD	Annual
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$2.27M	USD	Annual
Advance from shareholder	`ProceedsFromContributedCapital`	$562.55K	USD	Annual
Advance from shareholder	`ProceedsFromContributedCapital`	$620.94K	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	-	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$3.66M	USD	Annual
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$1.42M	USD	Annual
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$3.81M	USD	Annual
Net cash flows (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$592.43K	USD	Annual
Net cash flows (used for) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-910.87K	USD	Annual
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$586.24K	USD	Annual
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$379.52K	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.51M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.64M	USD	Annual
Cash and cash equivalents at the beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash and cash equivalents at the beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Cash and cash equivalents at the beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Cash and cash equivalents at the end of year	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash and cash equivalents at the end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.30M	USD	Point-in-time
Cash and cash equivalents at the end of year	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Interest paid	`InterestPaid`	$85.22K	USD	Annual
Interest paid	`InterestPaid`	$29.08K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	$4.23M	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	$3.06M	USD	Annual

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$8.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.01M	USD	Point-in-time
Net income	`NetIncomeLoss`	$12.79M	USD	Annual
Net income	`NetIncomeLoss`	$9.93M	USD	Annual
Shareholder contribution	`AdjustmentsToAdditionalPaidInCapitalShareholderContribution`	$55.90K	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$1.07M	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$488.68K	USD	Annual
Balance	`StockholdersEquity`	$8.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.01M	USD	Point-in-time

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