10-Q Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001213900-12-004472`
Period End Date	20120331
Filing Date	20120814
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	gprc-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 34 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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$4.48M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	815,648.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$5.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.00M	shares	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
Inventories	`InventoryNet`	$16.86M	USD	Point-in-time
Inventories	`InventoryNet`	$19.33M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.47M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.02M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$8.16M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$8.15M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	-	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$174.29K	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$673.76K	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$674.19K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$205.55K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$205.44K	USD	Point-in-time
Total assets	`Assets`	$46.07M	USD	Point-in-time
Total assets	`Assets`	$45.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.74M	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$643.23K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$714.07K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$1.47M	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$1.66M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$773.12K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.78M	USD	Point-in-time
Commitment and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitment 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
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.26M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$28.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$30.69M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$33.01M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.29M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$46.07M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$45.08M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$16.17M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$14.14M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$12.62M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$9.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.56M	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$88.79K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$89.52K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$658.87K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$543.77K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$748.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$632.56K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.81M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.60M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.17K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$22.97K	USD	1 Quarter
Interest expenses	`InterestExpense`	-	USD	1 Quarter
Interest expenses	`InterestExpense`	$17.43K	USD	1 Quarter
Exchange gain	`ForeignCurrencyTransactionGainBeforeTax`	$31.93K	USD	1 Quarter
Exchange gain	`ForeignCurrencyTransactionGainBeforeTax`	$71.30K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.85M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.68M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$964.09K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$787.84K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.72M	USD	1 Quarter
- Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$217.18K	USD	1 Quarter
- Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$213.42K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.28M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.93M	USD	1 Quarter
Earnings per share attributable to shareholders of Guanwei Recycling Corp. - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	1 Quarter
Earnings per share attributable to shareholders of Guanwei Recycling Corp. - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.14	USD	1 Quarter
Weighted average number of share of common stock used in computing - basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.00M	shares	1 Quarter
Weighted average number of share of common stock used in computing - basic and diluted earnings per share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.00M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.72M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$129.85K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$201.44K	USD	1 Quarter
Amortization of land use right	`AdjustmentForAmortization`	$3.69K	USD	1 Quarter
Amortization of land use right	`AdjustmentForAmortization`	$3.86K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.21K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$596.90K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-824.37K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInAdvancesToSuppliers`	-	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInAdvancesToSuppliers`	$2.12M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$82.10K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$326.75K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.19K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.09M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-161.09K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-75.45K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$67.27K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-379.55K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$148.79K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.57M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.88K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.73K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.73K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.88K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-698.01K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Advance from shareholder	`ProceedsFromContributedCapital`	$179.51K	USD	1 Quarter
Advance from shareholder	`ProceedsFromContributedCapital`	$187.65K	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	-	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$1.59M	USD	1 Quarter
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$3.74M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$187.65K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.28M	USD	1 Quarter
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$145.35K	USD	1 Quarter
Effect of exchange rate change on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$84.56K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-987.10K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.31M	USD	1 Quarter
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
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`	$13.95M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	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`	$13.95M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Interest paid	`InterestPaid`	$17.43K	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$896.81K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.17M	USD	1 Quarter

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