10-Q Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001213900-13-006284`
Period End Date	20130930
Filing Date	20131113
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	gprc-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 76 Cash Flow Statement 64

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`	$13.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.64M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.43M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$6.90M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.31M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.41M	shares	Point-in-time
Inventories	`InventoryNet`	$18.70M	USD	Point-in-time
Inventories	`InventoryNet`	$21.34M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$1.83M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$3.44M	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	-	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	$421.74K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$131.56K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$188.27K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.04M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$10.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$10.68M	USD	Point-in-time
Land use right, net	`FiniteLivedIntangibleAssetsNet`	$669.73K	USD	Point-in-time
Land use right, net	`FiniteLivedIntangibleAssetsNet`	$663.80K	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`	$59.48M	USD	Point-in-time
Total Assets	`Assets`	$53.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$663.15K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.08M	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$612.60K	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`	$848.32K	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$517.86K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$925.34K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.05M	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 September 30, 2013 and December 31, 2012	`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 September 30, 2013 and December 31, 2012	`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`	$3.92M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$48.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$40.46M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$56.43M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$46.60M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$53.13M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$59.48M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$52.77M	USD	3 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$48.87M	USD	3 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$16.30M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$17.91M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$11.87M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$12.37M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$35.42M	USD	3 Qtrs
Cost of revenue	`CostOfGoodsSold`	$38.79M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.53M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.45M	USD	3 Qtrs
Gross profit	`GrossProfit`	$13.98M	USD	3 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$131.10K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$403.57K	USD	3 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$293.29K	USD	3 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$125.54K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$524.11K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.65M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$555.38K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.73M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.94M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$649.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.13M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$686.48K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$11.32M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.75M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.88M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.04M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$15.22K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$42.90K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$14.39K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$43.16K	USD	3 Qtrs
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$3.59K	USD	1 Quarter
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.05K	USD	1 Quarter
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$3.59K	USD	3 Qtrs
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.05K	USD	3 Qtrs
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$-121.75K	USD	3 Qtrs
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$83.24K	USD	3 Qtrs
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$-92.07K	USD	1 Quarter
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$36.17K	USD	1 Quarter
Miscellaneous	`Miscellaneous`	$-31.24K	USD	3 Qtrs
Miscellaneous	`Miscellaneous`	$3.46K	USD	3 Qtrs
Miscellaneous	`Miscellaneous`	$3.46K	USD	1 Quarter
Miscellaneous	`Miscellaneous`	$-21.44K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$98.74K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-76.44K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$33.54K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-75.27K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.96M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.42M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.81M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.78M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.18M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$3.11M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$922.51K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$2.96M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.46M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.85M	USD	3 Qtrs
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-47.33K	USD	1 Quarter
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$166.09K	USD	3 Qtrs
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$335.23K	USD	1 Quarter
Other comprehensive income - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.37M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.02M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.83M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.58M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.19M	USD	1 Quarter
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.86	USD	3 Qtrs
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.81	USD	3 Qtrs
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.27	USD	1 Quarter
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.35	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`	10.25M	shares	3 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	3 Qtrs

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.46M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.85M	USD	3 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$274.16K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$622.53K	USD	3 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$785.25K	USD	3 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$220.58K	USD	1 Quarter
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$11.56K	USD	3 Qtrs
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$11.74K	USD	3 Qtrs
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$3.59K	USD	1 Quarter
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.05K	USD	1 Quarter
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$3.59K	USD	3 Qtrs
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.05K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.59M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.63M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.12M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$4.68M	USD	3 Qtrs
Advances to suppliers	`AdvancesToSupplier`	$1.54M	USD	3 Qtrs
Advances to suppliers	`AdvancesToSupplier`	-	USD	3 Qtrs
Value added taxes refundable	`ValueAddedTaxesRefundable`	$581.64K	USD	3 Qtrs
Value added taxes refundable	`ValueAddedTaxesRefundable`	$416.52K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-770.24K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$54.41K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.62K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.57K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.49M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-685.28K	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$15.87K	USD	3 Qtrs
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-210.40K	USD	3 Qtrs
Value Added Tax Payable	`ValueAddedTaxPayable`	$112.05K	USD	3 Qtrs
Value Added Tax Payable	`ValueAddedTaxPayable`	-	USD	3 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$33.08K	USD	3 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-131.78K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.77M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.82M	USD	3 Qtrs
Proceeds from disposal property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.83K	USD	3 Qtrs
Proceeds from disposal property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.41M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$956.30K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-951.47K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.41M	USD	3 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$383.12K	USD	3 Qtrs
Advance from shareholder	`ProceedsFromContributedCapital`	$330.45K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$383.12K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$330.45K	USD	3 Qtrs
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$364.31K	USD	3 Qtrs
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$64.29K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.56M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$804.09K	USD	3 Qtrs
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.24M	USD	Point-in-time
Cash and cash equivalents at the beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.64M	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`	$12.43M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.24M	USD	Point-in-time
Cash and cash equivalents at the end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.64M	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`	$12.43M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$3.09M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$3.08M	USD	3 Qtrs
Accrued expense related to purchases of property, plant and equipment	`AccruedExpenseRelatedToPurchasesOfPropertyPlantAndEquipment`	$79.26K	USD	3 Qtrs
Accrued expense related to purchases of property, plant and equipment	`AccruedExpenseRelatedToPurchasesOfPropertyPlantAndEquipment`	$8.05K	USD	3 Qtrs
Issuance of common stock to repay debt to shareholder	`IssuanceOfCommonStockToRepayDebtToShareholder`	$1.47M	USD	3 Qtrs
Issuance of common stock to repay debt to shareholder	`IssuanceOfCommonStockToRepayDebtToShareholder`	-	USD	3 Qtrs

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