10-Q Filing

GUANWEI RECYCLING CORP. CIK: 1425715 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001213900-14-003286`
Period End Date	20140331
Filing Date	20140515
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	gprc-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 38 Cash Flow Statement 58

Balance Sheet 64 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`	$11.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	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`	$14.86M	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
Accounts receivable	`AccountsReceivableNetCurrent`	$8.51M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.37M	USD	Point-in-time
Accounts receivable from affiliate	`DueFromAffiliates`	-	USD	Point-in-time
Accounts receivable from affiliate	`DueFromAffiliates`	$5.47M	USD	Point-in-time
Inventories	`InventoryNet`	$17.32M	USD	Point-in-time
Inventories	`InventoryNet`	$14.72M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$6.94M	USD	Point-in-time
Advances to suppliers	`AdvancesToSuppliers`	$7.43M	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	$977.48K	USD	Point-in-time
Value added tax refundable	`RefundableValueAddedTax`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$218.32K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$136.40K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$49.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$11.07M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$11.80M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	-	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$534.56K	USD	Point-in-time
Land use right, net	`FiniteLivedIntangibleAssetsNet`	$668.60K	USD	Point-in-time
Land use right, net	`FiniteLivedIntangibleAssetsNet`	$659.06K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$203.75K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$200.83K	USD	Point-in-time
Total Assets	`Assets`	$61.48M	USD	Point-in-time
Total Assets	`Assets`	$61.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$612.30K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$549.80K	USD	Point-in-time
Accrued expenses and other payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$720.89K	USD	Point-in-time
Value added taxes payable	`ValueAddedTaxesPayable`	$827.52K	USD	Point-in-time
Value added taxes payable	`ValueAddedTaxesPayable`	-	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$1.07M	USD	Point-in-time
Amount due to shareholder	`DueToOfficersOrStockholdersCurrent`	$934.89K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$449.67K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$299.47K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.55M	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, 2014 and December 31, 2013	`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, 2014 and December 31, 2013	`CommonStockValue`	$10.41K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.83M	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`	$3.65M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$50.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$50.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$58.21M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$57.94M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$61.48M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$61.49M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$14.84M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$11.78M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$10.96M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$10.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.66M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$155.91K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$73.51K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$599.29K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$662.43K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$755.19K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$735.95K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$921.90K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.12M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$13.40K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.51K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$15.04K	USD	1 Quarter
Net foreign exchange gain	`ForeignCurrencyTransactionGainBeforeTax`	$146.39K	USD	1 Quarter
Net foreign exchange gain	`ForeignCurrencyTransactionGainBeforeTax`	$59.94K	USD	1 Quarter
Miscellaneous	`MiscellaneousExpense`	$-5.95K	USD	1 Quarter
Miscellaneous	`MiscellaneousExpense`	$-681.00	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$135.91K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$72.66K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.06M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.20M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$831.02K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$301.74K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$756.07K	USD	1 Quarter
Other comprehensive income (loss) - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-498.43K	USD	1 Quarter
Other comprehensive income (loss) - foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$263.30K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$257.63K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.63M	USD	1 Quarter
Earnings per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.07	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`	10.41M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$756.07K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$243.72K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$324.32K	USD	1 Quarter
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$3.87K	USD	1 Quarter
Amortization of land use rights	`AmortizationOfIntangibleAssets`	$3.98K	USD	1 Quarter
Imputed interest on advances from shareholder	`ImputedInterestOnAdvancesFromShareholder`	-	USD	1 Quarter
Imputed interest on advances from shareholder	`ImputedInterestOnAdvancesFromShareholder`	$15.04K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-789.39K	USD	1 Quarter
Accounts receivable from affiliate	`IncreaseDecreaseInDueFromAffiliatesCurrent`	-	USD	1 Quarter
Accounts receivable from affiliate	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$-5.46M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.74M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.15M	USD	1 Quarter
Advances to suppliers	`AdvancesToSupplier`	$565.58K	USD	1 Quarter
Advances to suppliers	`AdvancesToSupplier`	$-427.67K	USD	1 Quarter
Value added taxes refundable	`ValueAddedTaxesRefundable`	$131.44K	USD	1 Quarter
Value added taxes refundable	`ValueAddedTaxesRefundable`	$984.88K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$24.39K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$83.09K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.20K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.23K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.92M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$742.32K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-166.46K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-52.86K	USD	1 Quarter
Value added taxes payable	`ValueAddedTaxPayable`	$-110.91K	USD	1 Quarter
Value added taxes payable	`ValueAddedTaxPayable`	$-826.81K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-147.54K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-204.05K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.58M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.42M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$614.31K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$256.36K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-256.36K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-614.31K	USD	1 Quarter
Advance from shareholder	`ProceedsFromContributedCapital`	$135.31K	USD	1 Quarter
Advance from shareholder	`ProceedsFromContributedCapital`	$171.22K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$171.22K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$135.31K	USD	1 Quarter
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-122.61K	USD	1 Quarter
Effect of exchange rate change on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$68.72K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.41M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.97M	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`	$11.89M	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`	$14.86M	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`	$11.89M	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`	$14.86M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$449.29K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.04M	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`	$534.10K	USD	1 Quarter
Construction in progress transferred to property, plant and equipment	`ConstructionInProgressTransferredToPurchasesOfPropertyPlantAndEquipment`	$7.97K	USD	1 Quarter
Construction in progress transferred to property, plant and equipment	`ConstructionInProgressTransferredToPurchasesOfPropertyPlantAndEquipment`	-	USD	1 Quarter

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