10-Q Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-004255`
Period End Date	20130630
Filing Date	20130814
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	gprc-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 72 Cash Flow Statement 60

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`	$15.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.41M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	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`	$7.61M	USD	Point-in-time
Inventories	`InventoryNet`	$18.89M	USD	Point-in-time
Inventories	`InventoryNet`	$18.70M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$1.83M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$3.17M	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	$11.81K	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$144.29K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$131.56K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$45.23M	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`	$669.67K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$202.35K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$204.11K	USD	Point-in-time
Total Assets	`Assets`	$56.41M	USD	Point-in-time
Total Assets	`Assets`	$53.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$571.03K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.08M	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$646.60K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$796.71K	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`	$772.52K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$517.86K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.03M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.17M	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 June 30, 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 June 30, 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`	$3.58M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$40.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$46.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$53.24M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$46.60M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$56.41M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$53.13M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$17.73M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$34.87M	USD	2 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$32.57M	USD	2 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$18.69M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$13.80M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$23.56M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$26.42M	USD	2 Qtrs
Cost of revenue	`CostOfGoodsSold`	$12.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.45M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.01M	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$116.56K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$272.47K	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$78.23K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$167.75K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.17M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$571.24K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$464.16K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$687.81K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$542.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.44M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.29M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.45M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.57M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$7.16M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.35M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.54K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$27.94K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$28.51K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$14.34K	USD	1 Quarter
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$-29.68K	USD	2 Qtrs
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$-12.88K	USD	1 Quarter
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$-61.61K	USD	1 Quarter
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$47.06K	USD	2 Qtrs
Miscellaneous	`Miscellaneous`	$-9.12K	USD	1 Quarter
Miscellaneous	`Miscellaneous`	-	USD	2 Qtrs
Miscellaneous	`Miscellaneous`	$-9.80K	USD	2 Qtrs
Miscellaneous	`Miscellaneous`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.17K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-47.27K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-7.46K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$65.20K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.64M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.16M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.30M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.44M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.14M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$2.03M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.93M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$1.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.60M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.24M	USD	1 Quarter
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$231.45K	USD	2 Qtrs
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.04M	USD	2 Qtrs
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$774.69K	USD	1 Quarter
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$18.03K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.64M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.01M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.18M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.46M	USD	2 Qtrs
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.31	USD	1 Quarter
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.51	USD	2 Qtrs
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.31	USD	1 Quarter
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.54	USD	2 Qtrs
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`	10.41M	shares	2 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.35M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.18M	shares	2 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.60M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.24M	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$200.50K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$511.09K	USD	2 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$267.37K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$401.95K	USD	2 Qtrs
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$7.72K	USD	2 Qtrs
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$7.79K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.87M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$928.14K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.68M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-193.49K	USD	2 Qtrs
Advances to suppliers	`AdvancesToSupplier`	$1.29M	USD	2 Qtrs
Advances to suppliers	`AdvancesToSupplier`	-	USD	2 Qtrs
Value added taxes refundable	`ValueAddedTaxesRefundable`	$11.69K	USD	2 Qtrs
Value added taxes refundable	`ValueAddedTaxesRefundable`	$665.92K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.36K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-742.87K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.40K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.38K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.56M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.86M	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-92.91K	USD	2 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-172.43K	USD	2 Qtrs
Value added taxes payable	`ValueAddedTaxPayable`	-	USD	2 Qtrs
Value added taxes payable	`ValueAddedTaxPayable`	$-111.57K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-33.84K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$127.89K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.12M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.15M	USD	2 Qtrs
Deposit for property, plant and equipment	`PaymentOfDepositForPropertyPlantAndEquipment`	$645.75K	USD	2 Qtrs
Deposit for property, plant and equipment	`PaymentOfDepositForPropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$373.72K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$100.57K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-373.72K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-746.33K	USD	2 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$323.58K	USD	2 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$254.66K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$323.58K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$254.66K	USD	2 Qtrs
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$84.84K	USD	2 Qtrs
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$282.93K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.32M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$783.56K	USD	2 Qtrs
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.40M	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`	$13.22M	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`	$15.40M	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`	$13.22M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$1.96M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.91M	USD	2 Qtrs
Accrued expense related to purchases of property, plant and equipment	`AccruedExpenseRelatedToPurchasesOfPropertyPlantAndEquipment`	$8.01K	USD	2 Qtrs
Accrued expense related to purchases of property, plant and equipment	`AccruedExpenseRelatedToPurchasesOfPropertyPlantAndEquipment`	-	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.