10-Q/A Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q2 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001213900-12-004714`
Period End Date	20120630
Filing Date	20120817
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	gprc-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 76 Cash Flow Statement 63

Balance Sheet 62 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`	$1.80	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
Common stock, shares issued	`CommonStockSharesIssued`	20.82M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.22M	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.82M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$5.43M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$4.48M	USD	Point-in-time
Inventories	`InventoryNet`	$16.86M	USD	Point-in-time
Inventories	`InventoryNet`	$18.65M	USD	Point-in-time
Refundable value added tax	`RefundableValueAddedTax`	$1.89M	USD	Point-in-time
Refundable value added tax	`RefundableValueAddedTax`	$1.22M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$179.52K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$882.82K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$39.37M	USD	Point-in-time
Deposit for property, plant and equipment	`DepositForPropertyPlantAndEquipment`	-	USD	Point-in-time
Deposit for property, plant and equipment	`DepositForPropertyPlantAndEquipment`	$645.12K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$7.98M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$8.15M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$174.29K	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$79.25K	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$670.69K	USD	Point-in-time
Land use right, net	`LandUseRightNet`	$673.76K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$204.47K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$205.44K	USD	Point-in-time
Total Assets	`Assets`	$48.94M	USD	Point-in-time
Total Assets	`Assets`	$45.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.94M	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`	$625.94K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$323.58K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$1.47M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.12M	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`	$9.01M	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, 20,815,654 and 20,000,006 shares issued and outstanding, as of June 30, 2012 and December 31, 2011	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 20,815,654 and 20,000,006 shares issued and outstanding, as of June 30, 2012 and December 31, 2011	`CommonStockValue`	$20.82K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.76M	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`	$2.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$28.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$33.86M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$33.01M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$39.94M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$48.94M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$45.08M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$18.69M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$34.87M	USD	2 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$15.76M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$29.90M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$20.57M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$13.80M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$26.42M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$10.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.33M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.45M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.89M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$203.94K	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$167.75K	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$115.15K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$78.23K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$972.73K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$428.96K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$464.16K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.29M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.18M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$544.11K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$542.39K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.55M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.35M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.15M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$7.16M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$24.44K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$47.41K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$28.51K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$14.34K	USD	1 Quarter
Interest expenses	`InterestExpense`	$7.78K	USD	1 Quarter
Interest expenses	`InterestExpense`	-	USD	1 Quarter
Interest expenses	`InterestExpense`	$25.21K	USD	2 Qtrs
Interest expenses	`InterestExpense`	-	USD	2 Qtrs
Exchange (loss) gain	`ForeignCurrencyTransactionGainBeforeTax`	$59.83K	USD	1 Quarter
Exchange (loss) gain	`ForeignCurrencyTransactionGainBeforeTax`	$-61.61K	USD	1 Quarter
Exchange (loss) gain	`ForeignCurrencyTransactionGainBeforeTax`	$-29.68K	USD	2 Qtrs
Exchange (loss) gain	`ForeignCurrencyTransactionGainBeforeTax`	$131.12K	USD	2 Qtrs
Miscellaneous	`Miscellaneous`	-	USD	2 Qtrs
Miscellaneous	`Miscellaneous`	$10.40K	USD	2 Qtrs
Miscellaneous	`Miscellaneous`	-	USD	1 Quarter
Miscellaneous	`Miscellaneous`	$10.40K	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$-1.17K	USD	2 Qtrs
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$86.89K	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$163.72K	USD	2 Qtrs
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$-47.27K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.32M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.30M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.64M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.16M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.93M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.14M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.18M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$2.15M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.17M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Other comprehensive income foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$18.03K	USD	1 Quarter
Other comprehensive income foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$326.35K	USD	1 Quarter
Other comprehensive income foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$543.53K	USD	2 Qtrs
Other comprehensive income foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$231.45K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.18M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.46M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.71M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.78M	USD	1 Quarter
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.31	USD	2 Qtrs
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.26	USD	2 Qtrs
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Earnings per share attributable to shareholders of Guanwei Recycling Corp. basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Weighted average number of common share outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.00M	shares	1 Quarter
Weighted average number of common share outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.35M	shares	2 Qtrs
Weighted average number of common share outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.71M	shares	1 Quarter
Weighted average number of common share outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.00M	shares	2 Qtrs

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.17M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$261.62K	USD	2 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$200.50K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$401.95K	USD	2 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$131.77K	USD	1 Quarter
Amortization of land use rights	`AdjustmentForAmortization`	$7.72K	USD	2 Qtrs
Amortization of land use rights	`AdjustmentForAmortization`	$7.43K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$928.14K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.80M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.68M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.69M	USD	2 Qtrs
Value added taxes refundable	`ValueAddedTaxesRefundable`	$-413.73K	USD	2 Qtrs
Value added taxes refundable	`ValueAddedTaxesRefundable`	$665.92K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-28.25K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-742.87K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.38K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.86M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.16M	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-226.02K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-92.91K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$269.08K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-33.84K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$645.02K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.12M	USD	2 Qtrs
Deposit for property, plant and equipment	`PayamentOfDepositForPropertyPlantAndEquipment`	-	USD	2 Qtrs
Deposit for property, plant and equipment	`PayamentOfDepositForPropertyPlantAndEquipment`	$645.75K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$100.57K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$372.12K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-372.12K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-746.33K	USD	2 Qtrs
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$1.53M	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-1.53M	USD	2 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$232.37K	USD	2 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$323.58K	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	-	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$766.80K	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$3.76M	USD	2 Qtrs
Net cash flows provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$323.58K	USD	2 Qtrs
Net cash flows provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.23M	USD	2 Qtrs
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$84.84K	USD	2 Qtrs
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$338.59K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-614.90K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$783.56K	USD	2 Qtrs
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	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`	$14.94M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.22M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	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`	$14.94M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.22M	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Interest paid	`InterestPaid`	$25.29K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.88M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.96M	USD	2 Qtrs
Issuance of common stock to repay debt to shareholder	`IssuanceOfCommonStockToRepayDebtToShareholder`	-	USD	2 Qtrs
Issuance of common stock to repay debt to shareholder	`IssuanceOfCommonStockToRepayDebtToShareholder`	$1.47M	USD	2 Qtrs

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