Greenland Acquisition Corporation (GLAC) financial statements (2021 and earlier)

Company profile

Business Address 11-F, BUILDING #12, SUNKING PLAZA
HANGZHOU, ZHEJIANG, 311122
State of Incorp.
Fiscal Year End December 31
SIC 356 - General Industrial Machinery And Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2020
12/31/2019
11/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments721
Cash and cash equivalents721
Restricted cash and investments24 
Receivables3116 
Inventory, net of allowances, customer advances and progress billings1510 
Inventory1510 
Other current assets10 
Other undisclosed current assets51480
Total current assets:108801
Noncurrent Assets
Operating lease, right-of-use asset44
Property, plant and equipment2021 
Long-term investments and receivables 0 
Due from related parties 0 
Intangible assets, net (including goodwill)00 
Goodwill00 
Intangible assets, net (excluding goodwill) 0 
Assets held-in-trust  44
Deferred income tax assets 1
Other noncurrent assets01 
Other undisclosed noncurrent assets0  
Total noncurrent assets:242644
TOTAL ASSETS:13210645
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:22 0
Accounts payable22  
Other undisclosed accounts payable and accrued liabilities  0
Deferred revenue0 
Debt19  
Due to related parties9  
Other liabilities2  
Other undisclosed current liabilities2656 
Total current liabilities:79560
Noncurrent Liabilities
Long-term debt and lease obligation, including:04 
Long-term debt, excluding current maturities01 
Other undisclosed long-term debt and lease obligation 2 
Other undisclosed noncurrent liabilities2561
Total noncurrent liabilities:3601
Other undisclosed liabilities (56) 
Total liabilities:81601
Temporary equity, carrying amount  39
Stockholders' equity
Stockholders' equity attributable to parent, including:45395
Common stock  5
Additional paid in capital1415 
Accumulated other comprehensive loss(0)(0) 
Retained earnings (accumulated deficit)2720(0)
Other undisclosed stockholders' equity attributable to parent54 
Stockholders' equity attributable to noncontrolling interest68 
Total stockholders' equity:51475
TOTAL LIABILITIES AND EQUITY:13210645

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

12/31/2020
12/31/2019
11/30/2018
Revenues6752 
Cost of revenue(54)(40) 
Cost of goods and services sold(67)(52) 
Gross profit:1312 
Operating expenses(6)(6)(0)
Operating income (loss):77(0)
Nonoperating income20 
Investment income, nonoperating00 
Foreign currency transaction gain, before tax2  
Interest and debt expense(1)(1) 
Income (loss) from continuing operations before equity method investments, income taxes:85(0)
Other undisclosed income from continuing operations before income taxes10 
Income (loss) from continuing operations before income taxes:96(0)
Income tax expense(2)(1) 
Other undisclosed loss from continuing operations (1) 
Net income (loss):64(0)
Net income (loss) attributable to noncontrolling interest0(1) 
Other undisclosed net income attributable to parent 10
Net income (loss) attributable to parent:75(0)
Preferred stock dividends and other adjustments  (0)
Net income (loss) available to common stockholders, diluted:75(0)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
11/30/2018
Net income (loss):64(0)
Comprehensive income (loss):64(0)
Comprehensive loss, net of tax, attributable to noncontrolling interest(0)(0) 
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1(0) 
Comprehensive income (loss), net of tax, attributable to parent:74(0)

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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