Smartheat Inc (HEAT) financial statements (2021 and earlier)

Company profile

Business Address 60 EAST REN-MIN ROAD
XAI XI COUNTY, QING HAI PROV., 817000
State of Incorp. NV
Fiscal Year End December 31
SIC 3433 - Heating Equipment, Except Electric and Warm Air Furnaces (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,1741,150351160329221222
Cash and cash equivalents1,1741,150351160329221222
Receivables2,2161,6031,2966576354,6664,959
Inventory, net of allowances, customer advances and progress billings7208481,1771,8031,8511,6981,414
Inventory7208481,1771,8031,8511,6981,414
Prepaid expense3      
Advances on inventory purchases9391487116398
Other undisclosed current assets1159622  (3,936)(3,913)
Total current assets:4,3213,7882,8952,6272,8262,7122,779
Noncurrent Assets
Property, plant and equipment1,5051,5181,3071,4041,4601,5891,703
Long-term investments and receivables1,353      
Due from related parties1,353      
Prepaid expense161515    
Other undisclosed noncurrent assets331,6141,6111,6361,6141,6601,695
Total noncurrent assets:2,9073,1482,9333,0403,0733,2493,397
TOTAL ASSETS:7,2286,9365,8285,6675,9005,9616,177
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,4801,3261,1521,0962,4726,8016,771
Accounts payable    3801,1411,043
Accrued liabilities951794635560622,7162,781
Employee-related liabilities    62330350
Taxes payable    281276290
Other undisclosed accounts payable and accrued liabilities5295325175351,6862,3382,307
Deferred revenue54140105117641,1981,326
Other undisclosed current liabilities1,6831,5321,2507521,0371,6071,622
Total current liabilities:3,2172,9982,5081,9653,5739,6069,718
Noncurrent Liabilities
Other undisclosed noncurrent liabilities1,2491,2481,2931,3611,3891,4101,486
Total noncurrent liabilities:1,2491,2481,2931,3611,3891,4101,486
Total liabilities:4,4664,2463,8013,3254,96211,01611,204
Stockholders' equity
Stockholders' equity attributable to parent, including:2,0361,9872,0272,341938(5,054)(5,028)
Common stock186186186186186186186
Additional paid in capital(6,666)(6,666)(6,666)(6,666)(6,666)(7,646)(7,646)
Accumulated other comprehensive income (loss)31(132)(74)(15)(69)(15)(57)
Retained earnings8,3398,4638,5108,7657,4871,6391,708
Other undisclosed stockholders' equity attributable to parent1471367171 781781
Stockholders' equity attributable to noncontrolling interest725704     
Total stockholders' equity:2,7622,6902,0272,341938(5,054)(5,028)
TOTAL LIABILITIES AND EQUITY:7,2286,9365,8285,6675,9005,9616,177

Income statement (P&L) ($ in thousands)

9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
Revenues2,3302,3191,0101,6501,8831,8231,386
Cost of revenue
(Cost of Goods and Services Sold)
(2,127)(1,974)(931)(1,414)(1,534)(1,476)(1,224)
Gross profit:20434680237350347162
Operating expenses(349)(356)(343)(725)(245)(404)(303)
Operating income (loss):(145)(11)(263)(488)105(57)(141)
Nonoperating income727733422694648
Foreign currency transaction gain (loss), before tax   55(166)(42)32
Other nonoperating income2628     
Income (loss) from continuing operations before income taxes:(73)66(231)(446)374(11)(93)
Income tax expense(21)(26) (21) (33) 
Other undisclosed income (loss) from continuing operations100(37)     
Income (loss) from continuing operations:63(231)(467)374(44)(93)
Income (loss) from discontinued operations   1,842(93)0(3)
Income (loss) before gain (loss) on sale of properties:63(231)1,374280(44)(96)
Other undisclosed net income (loss)(100)37     
Net income (loss):(94)40(231)1,374280(44)(96)
Other undisclosed net income attributable to parent63  5,593  
Net income (loss) available to common stockholders, diluted:(88)43(231)1,3745,873(44)(96)

Comprehensive Income ($ in thousands)

9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
Net income (loss):(94)40(231)1,374280(44)(96)
Comprehensive income (loss):(94)40(231)1,374280(44)(96)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(22)1(290)1,4295,819(2)(141)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent190(56)     
Comprehensive income (loss), net of tax, attributable to parent:75(15)(520)2,8036,099(45)(236)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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