Greenland Technologies Holding Corporation (GTEC) financial statements (2022 and earlier)

Company profile

Business Address 50 MILLSTONE ROAD, BUILDING 400
EAST WINDSOR, NJ 08512
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 thousands)

12/31/2021
12/31/2020
12/31/2019
11/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13,1697,1592,123645
Cash and cash equivalents11,0637,1592,123645
Short-term investments2,106   
Restricted cash and investments6,7382,2443,594 
Receivables37,55130,80416,157 
Inventory, net of allowances, customer advances and progress billings25,80315,3809,973 
Inventory25,80315,3809,973 
Other current assets15665328 
Other undisclosed current assets56,02951,39248,06585
Total current assets:139,305107,64380,240729
Noncurrent Assets
Operating lease, right-of-use asset814,0353,863
Property, plant and equipment18,95820,13520,630 
Long-term investments and receivables  430 
Due from related parties  430 
Intangible assets, net (including goodwill)449 
Goodwill444 
Intangible assets, net (excluding goodwill)  5 
Assets held-in-trust   44,307
Deferred income tax assets  514
Other noncurrent assets442798 
Other undisclosed noncurrent assets4,177158  
Total noncurrent assets:23,26324,33526,24444,307
TOTAL ASSETS:162,568131,979106,48445,037
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:29,17222,005 31
Accounts payable29,06422,005  
Taxes payable108   
Other undisclosed accounts payable and accrued liabilities   31
Deferred revenue388366 
Debt8,95919,285  
Due to related parties3,6199,051  
Other liabilities1,1982,212  
Other undisclosed current liabilities42,12625,88955,993 
Total current liabilities:85,46378,80855,99331
Noncurrent Liabilities
Long-term debt and lease obligation, including:2,2611663,528 
Long-term debt, excluding current maturities2,2131661,350 
Operating lease, liability48  
Other undisclosed long-term debt and lease obligation  2,179 
Other undisclosed noncurrent liabilities(48)2,34355,993979
Total noncurrent liabilities:2,2612,50959,522979
Other undisclosed liabilities  (55,993) 
Total liabilities:87,72481,31759,5221,011
Temporary equity, carrying amount   39,026
Stockholders' equity
Stockholders' equity attributable to parent, including:62,28544,89038,5965,000
Common stock   5,067
Additional paid in capital23,75913,70715,227 
Accumulated other comprehensive income (loss)1,014(63)(361) 
Retained earnings (accumulated deficit)33,66926,72819,864(67)
Other undisclosed stockholders' equity attributable to parent3,8424,5173,867 
Stockholders' equity attributable to noncontrolling interest12,5605,7728,366 
Total stockholders' equity:74,84550,66146,9625,000
TOTAL LIABILITIES AND EQUITY:162,568131,979106,48445,037

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

12/31/2021
12/31/2020
12/31/2019
11/30/2018
Revenues98,84066,86452,401 
Cost of revenue(79,246)(54,051)(40,022) 
Cost of goods and services sold(98,840)(66,864)(52,401) 
Gross profit:19,59412,81312,379 
Operating expenses(11,344)(6,105)(5,775)(373)
Operating income (loss):8,2506,7086,604(373)
Nonoperating income681,943152 
Investment income, nonoperating683152 
Foreign currency transaction gain, before tax 1,941  
Interest and debt expense(587)(931)(1,289) 
Income (loss) from continuing operations before equity method investments, income taxes:7,7317,7215,466(373)
Other undisclosed income from continuing operations before income taxes1,380923468 
Income (loss) from continuing operations before income taxes:9,1118,6455,935(373)
Income tax expense(1,843)(2,273)(847) 
Other undisclosed loss from continuing operations  (623) 
Net income (loss):7,2686,3724,465(373)
Net income (loss) attributable to noncontrolling interest(1,003)387(623) 
Other undisclosed net income attributable to parent  1,245306
Net income (loss) attributable to parent:6,2666,7595,087(67)
Preferred stock dividends and other adjustments   (271)
Other undisclosed net income available to common stockholders, basic1,003   
Net income (loss) available to common stockholders, diluted:7,2686,7595,087(338)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
11/30/2018
Net income (loss):7,2686,3724,465(373)
Comprehensive income (loss):7,2686,3724,465(373)
Comprehensive loss, net of tax, attributable to noncontrolling interest(1,402)(253)(468) 
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,477938(67) 
Comprehensive income (loss), net of tax, attributable to parent:7,3437,0573,930(373)

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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