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 investments | 13,169 | 7,159 | 2,123 | 645 | ||
| Cash and cash equivalents | 11,063 | 7,159 | 2,123 | 645 | ||
| Short-term investments | 2,106 | |||||
| Restricted cash and investments | 6,738 | 2,244 | 3,594 | |||
| Receivables | 37,551 | 30,804 | 16,157 | |||
| Inventory, net of allowances, customer advances and progress billings | 25,803 | 15,380 | 9,973 | |||
| Inventory | 25,803 | 15,380 | 9,973 | |||
| Other current assets | 15 | 665 | 328 | |||
| Other undisclosed current assets | 56,029 | 51,392 | 48,065 | 85 | ||
| Total current assets: | 139,305 | 107,643 | 80,240 | 729 | ||
| Noncurrent Assets | ||||||
| Operating lease, right-of-use asset | 81 | 4,035 | 3,863 | ✕ | ||
| Property, plant and equipment | 18,958 | 20,135 | 20,630 | |||
| Long-term investments and receivables | 430 | |||||
| Due from related parties | 430 | |||||
| Intangible assets, net (including goodwill) | 4 | 4 | 9 | |||
| Goodwill | 4 | 4 | 4 | |||
| Intangible assets, net (excluding goodwill) | 5 | |||||
| Assets held-in-trust | 44,307 | |||||
| Deferred income tax assets | 514 | ✕ | ||||
| Other noncurrent assets | 44 | 2 | 798 | |||
| Other undisclosed noncurrent assets | 4,177 | 158 | ||||
| Total noncurrent assets: | 23,263 | 24,335 | 26,244 | 44,307 | ||
| TOTAL ASSETS: | 162,568 | 131,979 | 106,484 | 45,037 | ||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities, including: | 29,172 | 22,005 | 31 | |||
| Accounts payable | 29,064 | 22,005 | ||||
| Taxes payable | 108 | |||||
| Other undisclosed accounts payable and accrued liabilities | 31 | |||||
| Deferred revenue | 388 | 366 | ✕ | |||
| Debt | 8,959 | 19,285 | ||||
| Due to related parties | 3,619 | 9,051 | ||||
| Other liabilities | 1,198 | 2,212 | ||||
| Other undisclosed current liabilities | 42,126 | 25,889 | 55,993 | |||
| Total current liabilities: | 85,463 | 78,808 | 55,993 | 31 | ||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation, including: | 2,261 | 166 | 3,528 | |||
| Long-term debt, excluding current maturities | 2,213 | 166 | 1,350 | |||
| Operating lease, liability | 48 | ✕ | ||||
| Other undisclosed long-term debt and lease obligation | 2,179 | |||||
| Other undisclosed noncurrent liabilities | (48) | 2,343 | 55,993 | 979 | ||
| Total noncurrent liabilities: | 2,261 | 2,509 | 59,522 | 979 | ||
| Other undisclosed liabilities | (55,993) | |||||
| Total liabilities: | 87,724 | 81,317 | 59,522 | 1,011 | ||
| Temporary equity, carrying amount | 39,026 | |||||
| Stockholders' equity | ||||||
| Stockholders' equity attributable to parent, including: | 62,285 | 44,890 | 38,596 | 5,000 | ||
| Common stock | 5,067 | |||||
| Additional paid in capital | 23,759 | 13,707 | 15,227 | |||
| Accumulated other comprehensive income (loss) | 1,014 | (63) | (361) | |||
| Retained earnings (accumulated deficit) | 33,669 | 26,728 | 19,864 | (67) | ||
| Other undisclosed stockholders' equity attributable to parent | 3,842 | 4,517 | 3,867 | |||
| Stockholders' equity attributable to noncontrolling interest | 12,560 | 5,772 | 8,366 | |||
| Total stockholders' equity: | 74,845 | 50,661 | 46,962 | 5,000 | ||
| TOTAL LIABILITIES AND EQUITY: | 162,568 | 131,979 | 106,484 | 45,037 | ||
Income statement (P&L) ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 11/30/2018 | ||
|---|---|---|---|---|---|
| Revenues | 98,840 | 66,864 | 52,401 | ||
| Cost of revenue | (79,246) | (54,051) | (40,022) | ||
| Cost of goods and services sold | (98,840) | (66,864) | (52,401) | ||
| Gross profit: | 19,594 | 12,813 | 12,379 | ||
| Operating expenses | (11,344) | (6,105) | (5,775) | (373) | |
| Operating income (loss): | 8,250 | 6,708 | 6,604 | (373) | |
| Nonoperating income | 68 | 1,943 | 152 | ||
| Investment income, nonoperating | 68 | 3 | 152 | ||
| 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: | 7,731 | 7,721 | 5,466 | (373) | |
| Other undisclosed income from continuing operations before income taxes | 1,380 | 923 | 468 | ||
| Income (loss) from continuing operations before income taxes: | 9,111 | 8,645 | 5,935 | (373) | |
| Income tax expense | (1,843) | (2,273) | (847) | ||
| Other undisclosed loss from continuing operations | (623) | ||||
| Net income (loss): | 7,268 | 6,372 | 4,465 | (373) | |
| Net income (loss) attributable to noncontrolling interest | (1,003) | 387 | (623) | ||
| Other undisclosed net income attributable to parent | 1,245 | 306 | |||
| Net income (loss) attributable to parent: | 6,266 | 6,759 | 5,087 | (67) | |
| Preferred stock dividends and other adjustments | (271) | ||||
| Other undisclosed net income available to common stockholders, basic | 1,003 | ||||
| Net income (loss) available to common stockholders, diluted: | 7,268 | 6,759 | 5,087 | (338) | |
Comprehensive Income ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 11/30/2018 | ||
|---|---|---|---|---|---|
| Net income (loss): | 7,268 | 6,372 | 4,465 | (373) | |
| Comprehensive income (loss): | 7,268 | 6,372 | 4,465 | (373) | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (1,402) | (253) | (468) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 1,477 | 938 | (67) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 7,343 | 7,057 | 3,930 | (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.