10-Q Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-002508`
Period End Date	20130331
Filing Date	20130515
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	gprc-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 54

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
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`	$13.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.41M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.41M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.31M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.41M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$7.69M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.41M	shares	Point-in-time
Inventories	`InventoryNet`	$18.70M	USD	Point-in-time
Inventories	`InventoryNet`	$16.65M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$2.40M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$1.83M	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	$131.66K	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$131.56K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$156.32K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.52M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$10.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$10.22M	USD	Point-in-time
Land use right, net	`FiniteLivedIntangibleAssetsNet`	$663.80K	USD	Point-in-time
Land use right, net	`FiniteLivedIntangibleAssetsNet`	$663.57K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$202.35K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$202.26K	USD	Point-in-time
Total Assets	`Assets`	$51.68M	USD	Point-in-time
Total Assets	`Assets`	$53.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$183.38K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$796.71K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$755.98K	USD	Point-in-time
Value added taxes payable	`ValueAddedTaxesPayable`	-	USD	Point-in-time
Value added taxes payable	`ValueAddedTaxesPayable`	$110.48K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$689.08K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$517.86K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$832.38K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.54M	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, 10,407,839 shares issued and outstanding, as of March 31, 2013 and December 31, 20112	`CommonStockValue`	$10.41K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 10,407,839 shares issued and outstanding, as of March 31, 2013 and December 31, 20112	`CommonStockValue`	$10.41K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.77M	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`	$2.55M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$40.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.83M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$46.60M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$49.22M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$53.13M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$51.68M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$16.17M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$14.84M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$10.96M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$12.62M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.56M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$89.52K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$155.91K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$658.87K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$599.29K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$748.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$755.19K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.81M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$13.40K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.17K	USD	1 Quarter
Net foreign exchange gain	`ForeignCurrencyTransactionGainBeforeTax`	$31.93K	USD	1 Quarter
Net foreign exchange gain	`ForeignCurrencyTransactionGainBeforeTax`	$59.94K	USD	1 Quarter
Miscellaneous	`Miscellaneous`	$-681.00	USD	1 Quarter
Miscellaneous	`Miscellaneous`	-	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$72.66K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$46.10K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.85M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$831.02K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$787.84K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.07M	USD	1 Quarter
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$263.30K	USD	1 Quarter
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$213.42K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.63M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.28M	USD	1 Quarter
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.21	USD	1 Quarter
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.23	USD	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.41M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.00M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.07M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$201.44K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$243.72K	USD	1 Quarter
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$3.86K	USD	1 Quarter
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$3.87K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$596.90K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.15M	USD	1 Quarter
Advances to suppliers	`AdvancesToSupplier`	$-565.58K	USD	1 Quarter
Advances to suppliers	`AdvancesToSupplier`	-	USD	1 Quarter
Value added taxes refundable	`ValueAddedTaxesRefundable`	$131.44K	USD	1 Quarter
Value added taxes refundable	`ValueAddedTaxesRefundable`	$966.50K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$24.39K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-639.75K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.20K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.19K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.09M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.92M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-75.45K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-52.86K	USD	1 Quarter
Value added taxes payable	`ValueAddedTaxPayable`	-	USD	1 Quarter
Value added taxes payable	`ValueAddedTaxPayable`	$-110.91K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-204.05K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-379.55K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.57M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.42M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-12.73K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-256.36K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.73K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-256.36K	USD	1 Quarter
Advance from shareholder	`ProceedsFromContributedCapital`	$171.22K	USD	1 Quarter
Advance from shareholder	`ProceedsFromContributedCapital`	$187.65K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$187.65K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$171.22K	USD	1 Quarter
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$84.56K	USD	1 Quarter
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$68.72K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.41M	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`	$13.49M	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 beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.49M	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`	$12.08M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.04M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.17M	USD	1 Quarter
Accrued expense related to purchases of property, plant and equipment	`AccruedExpenseRelatedToPurchasesOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Accrued expense related to purchases of property, plant and equipment	`AccruedExpenseRelatedToPurchasesOfPropertyPlantAndEquipment`	$7.97K	USD	1 Quarter

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