SORL Auto Parts, Inc. (SORL) financial statements (2021 and earlier)

Company profile

Business Address NO. 1169 YUMENG ROAD
RUIAN CITY, ZHEJIANG, 325200
State of Incorp. DE
Fiscal Year End December 31
SIC 3714 - Motor Vehicle Parts and Accessories (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1874489149
Cash and cash equivalents1374483014
Short-term investments5   6135
Restricted cash and investments1519    
Receivables1881502081077268
Inventory, net of allowances, customer advances and progress billings223204114667484
Inventory223204114667484
Prepaid expense8891135
Deposits current assets5     
Deferred tax assets4 332
Other current assets11166111
Other undisclosed current assets139137115432418
Total current assets:607612456239268227
Noncurrent Assets
Operating lease, right-of-use asset1
Property, plant and equipment1279680543844
Long-term investments and receivables  16   
Due from related parties  16   
Intangible assets, net (including goodwill)000000
Intangible assets, net (excluding goodwill)000000
Prepaid expense193217  0
Regulated entity, other noncurrent assets012   
Deposits noncurrent assets    22
Restricted cash and investments1718    
Other noncurrent assets21    
Deferred tax assets, net 4   
Other undisclosed noncurrent assets4535881314
Total noncurrent assets:210182126625360
TOTAL ASSETS:818794582301321287
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities232263146874931
Accounts payable206236118663514
Accrued liabilities262425201414
Employee-related liabilities     3
Taxes payable 231 1
Deferred revenue1
Debt27119150272713
Due to related parties962  0
Deferred revenue and credits1   
Customer advances and deposits43232019
Other liabilities433222
Other undisclosed current liabilities283174   (3)
Total current liabilities:5565653451399863
Noncurrent Liabilities
Long-term debt and lease obligation231437  4
Long-term debt, excluding current maturities221437   
Capital lease obligations    4
Operating lease, liability1
Liabilities, other than long-term debt89    
Accounts payable and accrued liabilities89    
Total noncurrent liabilities:312437  4
Total liabilities:5885893821399867
Stockholders' equity
Stockholders' equity attributable to parent199177173139200199
Common stock000000
Additional paid in capital(29)(29)(29)(29)4242
Accumulated other comprehensive income371661628
Retained earnings224199186161142129
Stockholders' equity attributable to noncontrolling interest312927232221
Total stockholders' equity:230205200162222220
TOTAL LIABILITIES AND EQUITY:818794582301321287

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues540468391272219240
Revenue, net391272219238
Revenue from related parties9430
Cost of revenue
(Cost of Goods and Services Sold)
(400)(346)(286)(199)(159)(171)
Other undisclosed gross profit     (2)
Gross profit:140123104735967
Operating expenses(117)(98)(72)(53)(45)(49)
Other undisclosed operating income11103302
Operating income:343435231520
Nonoperating income (expense)46(3)12(1)
Investment income, nonoperating56011 
Other nonoperating income (expense)(1)0(3)01(1)
Interest and debt expense(12)(14)(3)(1)(1)(1)
Other undisclosed income from continuing operations before equity method investments, income taxes65211 
Income from continuing operations before income taxes:323132251718
Income tax expense(4)(16)(5)(3)(2)(3)
Net income:281527211515
Net loss attributable to noncontrolling interest(3)(3)(3)  (1)
Other undisclosed net loss attributable to parent   (2)(1) 
Net income available to common stockholders, diluted:251324191314

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:281527211515
Other undisclosed comprehensive income (loss)(4)(12)11(11)(13)6
Comprehensive income:2533811121
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(3)(2)(4)(1)0(3)
Other undisclosed comprehensive income, net of tax, attributable to parent 3   1
Comprehensive income, net of tax, attributable to parent:2253410119

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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