2022 Q3 Form 10-Q Financial Statement

#000121390022048065 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $21.79M $20.60M $29.31M
YoY Change -5.62% -26.95% 19.09%
Cost Of Revenue $16.97M $15.76M $22.94M
YoY Change -5.63% -29.94% 17.58%
Gross Profit $4.812M $4.839M $6.368M
YoY Change -5.59% -15.18% 24.86%
Gross Profit Margin 22.09% 23.49% 21.73%
Selling, General & Admin $1.714M $1.763M $1.669M
YoY Change 17.92% 41.28% 58.99%
% of Gross Profit 35.62% 36.43% 26.22%
Research & Development $1.023M $862.5K $1.083M
YoY Change -25.42% -14.2% 12.77%
% of Gross Profit 21.27% 17.82% 17.0%
Depreciation & Amortization $635.9K $582.4K $631.2K
YoY Change 1.59% -7.29% 1.8%
% of Gross Profit 13.21% 12.04% 9.91%
Operating Expenses $2.738M $2.625M $3.002M
YoY Change -10.12% 16.52% 33.42%
Operating Profit $2.075M $2.214M $3.366M
YoY Change 1.13% -35.87% 18.1%
Interest Expense $126.0K $91.65K -$92.45K
YoY Change -223.79% -58.65% -48.64%
% of Operating Profit 6.07% 4.14% -2.75%
Other Income/Expense, Net $655.8K $501.7K $261.0K
YoY Change 183.34% 61.26% -9.99%
Pretax Income $2.617M $2.634M $3.534M
YoY Change 19.98% -25.73% 19.0%
Income Tax $518.9K $254.4K $619.4K
% Of Pretax Income 19.83% 9.66% 17.53%
Net Earnings $1.278M $1.487M $2.915M
YoY Change 24.27% -46.52% 19.3%
Net Earnings / Revenue 5.87% 7.22% 9.95%
Basic Earnings Per Share $0.10 $0.13 $0.16
Diluted Earnings Per Share $0.10 $0.13 $157.7K
COMMON SHARES
Basic Shares Outstanding 12.58M shares 11.33M shares 11.33M shares
Diluted Shares Outstanding 12.22M shares 11.33M shares 11.33M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.55M $10.88M $10.92M
YoY Change 147.35% 1.18% 34.82%
Cash & Equivalents $11.31M $3.218M $6.854M
Short-Term Investments $12.24M $7.666M $4.067M
Other Short-Term Assets $96.32K $89.40K $7.044M
YoY Change -98.61% -99.19% 113.46%
Inventory $21.88M $23.95M $24.96M
Prepaid Expenses
Receivables $18.34M $18.19M $24.72M
Other Receivables $67.07M $70.67M $73.32M
Total Short-Term Assets $135.3M $129.3M $141.0M
YoY Change 0.67% -2.12% 16.21%
LONG-TERM ASSETS
Property, Plant & Equipment $15.50M $17.00M $18.63M
YoY Change -20.09% -12.96% -4.97%
Goodwill $3.890K $3.890K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $242.9K $44.34K $4.752M
YoY Change -94.23% -98.95% 13.13%
Total Long-Term Assets $22.33M $21.07M $23.38M
YoY Change -5.43% -11.34% -1.76%
TOTAL ASSETS
Total Short-Term Assets $135.3M $129.3M $141.0M
Total Long-Term Assets $22.33M $21.07M $23.38M
Total Assets $157.7M $150.4M $164.3M
YoY Change -0.24% -3.52% 13.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.95M $25.84M $32.26M
YoY Change -15.32% -8.68% 13.19%
Accrued Expenses $605.5K $177.0K $177.0K
YoY Change 310.67% 30.34% 76.96%
Deferred Revenue $196.1K $272.1K
YoY Change
Short-Term Debt $8.716M $9.082M $46.90M
YoY Change -83.09% -81.97% -3.3%
Long-Term Debt Due $0.00 $199.0K
YoY Change -100.0% -75.13%
Total Short-Term Liabilities $70.26M $71.86M $83.93M
YoY Change -21.36% -18.83% -4.73%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $4.122M $2.013M $2.199M
YoY Change 84.06% -10.16% -4.39%
Total Long-Term Liabilities $4.122M $2.013M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.26M $71.86M $83.93M
Total Long-Term Liabilities $4.122M $2.013M $0.00
Total Liabilities $74.38M $73.87M $99.94M
YoY Change -24.46% -24.16% 3.68%
SHAREHOLDERS EQUITY
Retained Earnings $38.22M $36.94M
YoY Change
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $70.59M $63.16M $64.40M
YoY Change
Total Liabilities & Shareholders Equity $157.7M $150.4M $164.3M
YoY Change -0.24% -3.52% 13.26%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $1.278M $1.487M $2.915M
YoY Change 24.27% -46.52% 19.3%
Depreciation, Depletion And Amortization $635.9K $582.4K $631.2K
YoY Change 1.59% -7.29% 1.8%
Cash From Operating Activities -$4.456M -$2.926M $1.261M
YoY Change -12.38% -190.83% -131.53%
INVESTING ACTIVITIES
Capital Expenditures $230.0K $30.00K $100.0K
YoY Change -45.24% -89.29% -33.33%
Acquisitions
YoY Change
Other Investing Activities $178.0K $177.1K $1.010K
YoY Change -146.54% -175.89% -101.44%
Cash From Investing Activities $178.0K $177.1K $1.010K
YoY Change -146.54% -175.89% -101.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.75M -1.828M -5.957M
YoY Change 1857.02% -125.4% -222.31%
NET CHANGE
Cash From Operating Activities -4.456M -2.926M 1.261M
Cash From Investing Activities 178.0K 177.1K 1.010K
Cash From Financing Activities 11.75M -1.828M -5.957M
Net Change In Cash 7.468M -4.577M -4.694M
YoY Change -253.4% -144.93% -686.81%
FREE CASH FLOW
Cash From Operating Activities -$4.456M -$2.926M $1.261M
Capital Expenditures $230.0K $30.00K $100.0K
Free Cash Flow -$4.686M -$2.956M $1.161M
YoY Change -14.89% -200.49% -127.98%

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CY2021Q2 gtec Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
242479 usd
gtec Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
-1299584 usd
gtec Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
173353 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1232776 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3372237 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
802358 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5311702 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-463250 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
614049 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
790324 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
859594 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11329530 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10814479 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11329530 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10574223 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
50661462 usd
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
51000 usd
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1858841 usd
CY2021Q1 us-gaap Profit Loss
ProfitLoss
2443239 usd
CY2021Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-258229 usd
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
54756313 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
6366256 usd
gtec Voting Power Percentage
VotingPowerPercentage
0.50 pure
CY2021Q2 us-gaap Profit Loss
ProfitLoss
3152323 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
833963 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
65108855 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
74844666 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
77069 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
2914798 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
373910 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
78210443 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
2379426 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-4075452 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
76514417 usd
us-gaap Profit Loss
ProfitLoss
5294224 usd
us-gaap Profit Loss
ProfitLoss
5595562 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1213581 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1248256 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-394 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-959 usd
gtec Increase In Allowance For Doubtful Accounts
IncreaseInAllowanceForDoubtfulAccounts
-5073 usd
gtec Increase In Provision For Inventory
IncreaseInProvisionForInventory
23335 usd
gtec Deferred Tax Asset
DeferredTaxAsset
1433 usd
us-gaap Share Based Compensation
ShareBasedCompensation
51000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3152033 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7966860 usd
us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
-2790046 usd
us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
1980407 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-643284 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2184865 usd
gtec Advance To Suppliers Cost
AdvanceToSuppliersCost
-298315 usd
gtec Advance To Suppliers Cost
AdvanceToSuppliersCost
-278919 usd
gtec Increase Decrease Other Current And Noncurrent Assets
IncreaseDecreaseOtherCurrentAndNoncurrentAssets
-5915459 usd
gtec Increase Decrease Other Current And Noncurrent Assets
IncreaseDecreaseOtherCurrentAndNoncurrentAssets
128879 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1863919 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6052012 usd
gtec Customer Deposit
CustomerDeposit
-99917 usd
gtec Customer Deposit
CustomerDeposit
-206136 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
332437 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-604808 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-105978 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
147167 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-391343 usd
gtec Longterm Payablesunamortized Deferred Financing Cost
LongtermPayablesunamortizedDeferredFinancingCost
-194105 usd
gtec Longterm Payablesunamortized Deferred Financing Cost
LongtermPayablesunamortizedDeferredFinancingCost
-2470 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-438170 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-250714 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1665025 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-778421 usd
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
133941 usd
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
425860 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
312068 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
122485 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
178127 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-303375 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1539006 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
773144 usd
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
769503 usd
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
7545885 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-6489609 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
12020074 usd
gtec Proceeds From Related Parties
ProceedsFromRelatedParties
422324 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-1949340 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-1284631 usd
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
309258 usd
gtec Proceeds From Third Parties
ProceedsFromThirdParties
154629 usd
gtec Payment Of Principal On Financing Lease Obligation
PaymentOfPrincipalOnFinancingLeaseObligation
192376 usd
gtec Payment Of Principal On Financing Lease Obligation
PaymentOfPrincipalOnFinancingLeaseObligation
386572 usd
gtec Proceeds From Equity And Debt Finaning
ProceedsFromEquityAndDebtFinaning
77069 usd
gtec Proceeds From Equity And Debt Finaning
ProceedsFromEquityAndDebtFinaning
8225097 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7784753 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12068922 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-9271651 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
10987126 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-491537 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
133999 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17800892 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9403053 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8037704 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20524178 usd
gtec Bank Balances And Cash
BankBalancesAndCash
3217925 usd
gtec Bank Balances And Cash
BankBalancesAndCash
10756968 usd
gtec Bank Balances And Cash Included In Assets Classified As Restricted Cash
BankBalancesAndCashIncludedInAssetsClassifiedAsRestrictedCash
4819779 usd
gtec Bank Balances And Cash Included In Assets Classified As Restricted Cash
BankBalancesAndCashIncludedInAssetsClassifiedAsRestrictedCash
9767210 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
265356 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
782596 usd
us-gaap Interest Paid Net
InterestPaidNet
224546 usd
us-gaap Interest Paid Net
InterestPaidNet
408582 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
52820000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
49910000 usd
gtec Transmission Product Sale Of Sets
TransmissionProductSaleOfSets
70841 pure
gtec Transmission Product Sale Of Sets
TransmissionProductSaleOfSets
79032 pure
gtec Electric Industrial Vehicles Description
ElectricIndustrialVehiclesDescription
Greenland’s electric industrial vehicle products currently include GEF-series electric forklifts, a series of lithium powered forklifts with three models ranging in size from 1.8 tons to 3.5 tons, GEL-1800, a 1.8 ton rated load lithium powered electric wheeled front loader, and GEX-8000, an all-electric 8.0 ton rated load lithium powered wheeled excavator. These products have become available for purchase in the U.S. market. In July 2022, Greenland launched its new GEL-5000 all-electric 5.0 ton rated load lithium wheeled front loader. Greenland plans to launch a 54,000 square foot assembly site in Baltimore, Maryland in the third quarter of 2022 to support local service, assembly and distribution of its electric industrial heavy equipment product line.
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. Actual results could differ from those estimates. Significant estimates in the six months ended June 30, 2022 and 2021 include allowance for doubtful accounts, reserve for inventories, useful life of property, plant and equipment, assumptions used in assessing impairment of long-term assets and valuation of deferred tax assets and accruals for taxes due.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2021Q4 gtec Allowance Of Doubtful Accounts
AllowanceOfDoubtfulAccounts
860000 usd
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
2319081 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2620821 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
10953920 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
25803474 usd
CY2022Q2 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
6.6981 pure
CY2021Q2 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
6.4566 pure
CY2022Q2 us-gaap Derivative Average Forward Exchange Rate1
DerivativeAverageForwardExchangeRate1
6.4977 pure
CY2021Q2 us-gaap Derivative Average Forward Exchange Rate1
DerivativeAverageForwardExchangeRate1
6.4671 pure
CY2022Q2 gtec Allowance Of Doubtful Accounts
AllowanceOfDoubtfulAccounts
820000 usd
CY2022Q2 gtec Advance To Supplier
AdvanceToSupplier
700000 usd
CY2021Q4 gtec Advance To Supplier
AdvanceToSupplier
430000 usd
gtec Straightline Method Lease Term
StraightlineMethodLeaseTerm
P50Y
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
12271252 usd
CY2021Q4 us-gaap Inventory Adjustments
InventoryAdjustments
-23793 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
23948131 usd
gtec Implicit Interest Rate
ImplicitInterestRate
0.040038 pure
gtec Accounting For Around Percentage
AccountingForAroundPercentage
0.001 pure
gtec Total Revenue Of Greenland
TotalRevenueOfGreenland
0.0019 pure
CY2022Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
20602505 usd
CY2021Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
28204307 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
49909462 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
52815201 usd
CY2022Q2 gtec Revolving Materials
RevolvingMaterials
-1135570 usd
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
862535 usd
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1005296 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1945129 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1964841 usd
CY2022Q2 us-gaap Other Long Term Debt
OtherLongTermDebt
1980000 usd
CY2021Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
2210000 usd
us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.50 pure
gtec Owned Foreign Enterprise Percentage
OwnedForeignEnterprisePercentage
0.10 pure
gtec Registered Capital Percentage
RegisteredCapitalPercentage
0.50 pure
us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.10 pure
CY2021Q4 gtec Revolving Materials
RevolvingMaterials
-1078292 usd
CY2022Q2 us-gaap Short Term Investments
ShortTermInvestments
7666483 usd
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
2105938 usd
CY2022Q2 us-gaap Other Short Term Investments
OtherShortTermInvestments
500000 usd
CY2022Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
7310279 usd
CY2022Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
47500000 cny
CY2022Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
7166483 usd
CY2022Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
48001818 cny
CY2022Q2 gtec Consigned Processing Materials
ConsignedProcessingMaterials
-82204 usd
CY2021Q4 gtec Consigned Processing Materials
ConsignedProcessingMaterials
-67706 usd
CY2022Q2 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
19016887 usd
CY2021Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
16774321 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
822482 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
859319 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
18194405 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
15915002 usd
gtec Schedule Of Allowance For Doubtful Accounts
ScheduleOfAllowanceForDoubtfulAccounts
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>June 30,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2022</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>December 31,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2021</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Beginning balance</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">859,319</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">986,532</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Provision for doubtful accounts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(149,172</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Effect of FX change</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(41,910</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,959</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">822,482</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">859,319</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
859319 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
986532 usd
gtec Additional Provision For Doubtful Accounts
AdditionalProvisionForDoubtfulAccounts
5073 usd
CY2021 gtec Additional Provision For Doubtful Accounts
AdditionalProvisionForDoubtfulAccounts
-149172 usd
gtec Effect Of Fx Change
EffectOfFXChange
-41910 usd
CY2021 gtec Effect Of Fx Change
EffectOfFXChange
21959 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
822482 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
859319 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
9457356 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
9789196 usd
gtec Schedual Of Notes Receivable
SchedualOfNotesReceivable
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>June 30,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2022</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>December 31,<br/> 2021</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Bank notes receivable:</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">31,278,775</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">36,075,366</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Commercial notes receivable</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,740,946</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,475,755</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,019,721</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">37,551,121</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 7pt"> </span></p>
CY2022Q2 gtec Bank Notes Receivable
BankNotesReceivable
31278775 usd
CY2021Q4 gtec Bank Notes Receivable
BankNotesReceivable
36075366 usd
CY2022Q2 gtec Commercial Note Receivable
CommercialNoteReceivable
1740946 usd
CY2021Q4 gtec Commercial Note Receivable
CommercialNoteReceivable
1475755 usd
CY2022Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
33019721 usd
CY2021Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
37551121 usd
CY2022Q2 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
22130000 usd
CY2022Q2 us-gaap Security Deposit
SecurityDeposit
21640000 usd
CY2021Q4 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
28140000 usd
CY2021Q4 us-gaap Security Deposit
SecurityDeposit
24890000 usd
CY2022Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
12131454 usd
CY2021Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
12751105 usd
CY2022Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
21324228 usd
CY2021Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
21930452 usd
CY2022Q2 gtec Motor Vehicles
MotorVehicles
325092 usd
CY2021Q4 gtec Motor Vehicles
MotorVehicles
341697 usd
CY2022Q2 gtec Electronic Equipment
ElectronicEquipment
226115 usd
CY2021Q4 gtec Electronic Equipment
ElectronicEquipment
206122 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34006889 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35229376 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17094507 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16679022 usd
CY2022Q2 gtec Property Plants And Equipment Net
PropertyPlantsAndEquipmentNet
16912382 usd
CY2021Q4 gtec Property Plants And Equipment Net
PropertyPlantsAndEquipmentNet
18550354 usd
CY2022Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
89578 usd
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
407199 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17001960 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18957553 usd
us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1
770000 usd
CY2022Q2 gtec Construction In Progress Fixed Assets
ConstructionInProgressFixedAssets
0.31 usd
CY2022Q2 gtec Buildings Net
BuildingsNet
9850649 usd
CY2021Q4 gtec Buildings Net
BuildingsNet
11314916 usd
CY2021Q4 gtec Machiner Net
MachinerNet
2201707 usd
CY2022Q2 gtec Restricted Assets Total
RestrictedAssetsTotal
9850649 usd
CY2021Q4 gtec Restricted Assets Total
RestrictedAssetsTotal
13516623 usd
CY2022Q2 gtec Ownershipof Buildings For Net Book Value
OwnershipofBuildingsForNetBookValue
65980000 cny
CY2022Q2 gtec Ownershipof Buildings For Net Book Value
OwnershipofBuildingsForNetBookValue
9850000 usd
CY2022Q2 gtec Loan Facility With Maximum Exposure
LoanFacilityWithMaximumExposure
107820000 usd
CY2019Q1 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
3080000.00 usd
CY2019Q1 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
21250000 cny
CY2019Q1 gtec Initial Term
InitialTerm
P3Y
CY2019Q2 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
2120000 usd
CY2019Q2 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
14660000 cny
CY2019Q2 gtec Initial Term
InitialTerm
P2Y
CY2020Q2 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
1420000 usd
CY2020Q2 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
10000000 cny
CY2020Q2 gtec Initial Term
InitialTerm
P2Y
gtec Schedule Of Land Use Rights
ScheduleOfLandUseRights
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>June 30,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2022</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>December 31,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2021</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Land use rights, cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,593,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,827,951</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Less: Accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(800,162</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(792,753</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Land use rights, net</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,793,171</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,035,198</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q2 gtec Land Use Rights Cost
LandUseRightsCost
4593333 usd
CY2021Q4 gtec Land Use Rights Cost
LandUseRightsCost
4827951 usd
CY2022Q2 gtec Less Accumulated Amortization
LessAccumulatedAmortization
800162 usd
CY2021Q4 gtec Less Accumulated Amortization
LessAccumulatedAmortization
792753 usd
CY2022Q2 gtec Land Use Rights Net
LandUseRightsNet
3793171 usd
CY2021Q4 gtec Land Use Rights Net
LandUseRightsNet
4035198 usd
CY2022Q2 gtec Land Use Rights Assets Net
LandUseRightsAssetsNet
3790000 usd
CY2021Q4 gtec Land Use Rights Assets Net
LandUseRightsAssetsNet
4040000.00 usd
CY2022Q2 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year One
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearOne
94700 usd
CY2022Q2 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Two
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearTwo
94700 usd
CY2022Q2 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Three
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearThree
94700 usd
CY2022Q2 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Four
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearFour
94700 usd
CY2022Q2 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Five
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearFive
94700 usd
CY2022Q2 gtec Present Value Of Future Insurance Profits Amortization Expense Thereafter
PresentValueOfFutureInsuranceProfitsAmortizationExpenseThereafter
3319671 usd
CY2022Q2 gtec Present Values Of Future Insurance Profits Amortization Expense
PresentValuesOfFutureInsuranceProfitsAmortizationExpense
3793171 usd
CY2022Q2 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
33752065 usd
CY2021Q4 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
42093061 usd
CY2022Q2 us-gaap Notes Payable To Bank
NotesPayableToBank
33752065 usd
CY2021Q4 us-gaap Notes Payable To Bank
NotesPayableToBank
42093061 usd
CY2022Q2 gtec Restricted Cash And Cash Equivalents Value
RestrictedCashAndCashEquivalentsValue
4820000 usd
CY2021Q4 gtec Restricted Cash And Cash Equivalents Value
RestrictedCashAndCashEquivalentsValue
6740000 usd
CY2022Q2 gtec Note Receivable Date Of Issuance
NoteReceivableDateOfIssuance
22130000 usd
CY2021Q4 gtec Note Receivable Date Of Issuance
NoteReceivableDateOfIssuance
28140000 usd
CY2022Q2 gtec Land Use Right
LandUseRight
4030000.00 usd
CY2021Q4 gtec Land Use Right
LandUseRight
4040000.00 usd
gtec Percentage Of Bank Charges
PercentageOfBankCharges
0.0005 pure
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
25843583 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
29064132 usd
CY2022Q2 gtec Collateralized Bank Loans
CollateralizedBankLoans
7588719 usd
CY2021Q4 gtec Collateralized Bank Loans
CollateralizedBankLoans
7976336 usd
CY2022Q2 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
1492961 usd
CY2021Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
784609 usd
CY2022Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
9081680 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
8760945 usd
us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
Total
CY2022Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
9081680 usd
CY2021 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
Total
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
8760945 usd
gtec Short Term Debt Loan
ShortTermDebtLoan
P1Y
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.043442 pure
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.045547 pure
CY2019Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P3Y
CY2019Q2 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
2120000 usd
CY2019Q2 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
14660000 cny
CY2019Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y
CY2020Q2 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
1420000 usd
CY2022Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
142640 usd
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
946678 usd
CY2022Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
900943 usd
CY2021Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
31779 usd
CY2022Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
232476 usd
CY2021Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
219970 usd
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1276059 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1198427 usd
CY2022Q2 gtec Other Long Term Liability Debt Of Subsidy
OtherLongTermLiabilityDebtOfSubsidy
1983069 usd
CY2021Q4 gtec Other Long Term Liability Debt Of Subsidy
OtherLongTermLiabilityDebtOfSubsidy
2212938 usd
CY2022Q2 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
1983069 usd
CY2021Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
2212938 usd
gtec Grant Incomedecreased
GrantIncomedecreased
230000 usd
CY2022Q2 us-gaap Long Term Debt Term
LongTermDebtTerm
P3Y
us-gaap Operating Lease Payments
OperatingLeasePayments
18240 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
36780 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
30900 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
67680 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
197915 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
197915 usd
CY2019Q1 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
3080000.00 usd
CY2019Q1 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
21250000 cny
CY2020Q2 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
10000000 cny
CY2020Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of the Company’s ordinary shares are entitled to one vote for each share.
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11329530 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11329530 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11329530 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11329530 shares
us-gaap Conversion Of Stock Description
ConversionOfStockDescription
In connection with the Business Combination, all the outstanding rights of the Company were converted into 468,200 ordinary shares on a one-tenth (1/10) ordinary share per right basis if holders of the rights elected to convert their rights into underlying ordinary shares. 
CY2019Q3 us-gaap Payment For Incentive Fee
PaymentForIncentiveFee
12000 usd
CY2019Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
5000 shares
CY2020Q1 gtec Pursuant Service Agreement Description
PursuantServiceAgreementDescription
Greenland and CIIX entered into a termination agreement (the “CIIX Termination Agreement”) to terminate their respective obligations under the Service Agreement. Pursuant to the CIIX Termination Agreement, the Company agreed to issue 5,000 restricted ordinary shares, no par value (the “CIIX Termination Shares”) to CIIX. Upon CIIX’s receipt of the CIIX Termination Shares, the Company fully satisfied its payment obligations under the Service Agreement.
CY2019Q3 us-gaap Payment For Management Fee
PaymentForManagementFee
5000 usd
CY2019Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
1250 shares
CY2020Q1 gtec Pursuant Consulting Agreement Description
PursuantConsultingAgreementDescription
Greenland and SCCG entered into a termination agreement (the “SCCG Termination Agreement”) to terminate their respective obligations under the Consulting Agreement. Pursuant to the SCCG Termination Agreement, the Company agreed to issue 10,000 restricted ordinary shares, no par value (the “SCCG Termination Shares”) to SCCG. Upon SCCG’s receipt of the SCCG Termination Shares, the Company fully satisfied its payment obligations under the Consulting Agreement.
CY2020Q4 gtec Stockholders Equity Decription
StockholdersEquityDecription
the Company’s board of directors held a meeting and executed resolutions to approve the issuance of 120,000 ordinary shares to Raymond Wang, the Company’s chief executive officer, to offset unpaid salary to him in the amount of $120,833.33 and the issuance of 135,000 ordinary shares to Jing Jin, the Company’s chief financial officer, to offset unpaid salary to him in the amount of $60,000 and his personal loan to the Company in the amount of $75,000. On November 10, 2020, the Company issued 135,000 ordinary shares to Jing Jin. On December 30, 2020 and February 8, 2021, the Company issued 69,000 and 51,000 ordinary shares to Raymond Wang, respectively. In February 2021, the Company issued 48,344 ordinary shares from the exercise of warrants by certain warrantholders. On March 4, 2021, the Company issued 132,000 ordinary shares to Chardan from the exercise of Chardan’s unit purchase option to purchase 120,000 units. On April 19, 2021, the Company issued 2,500 ordinary shares to each of Peter Zuguang Wang, Charles Athle Nelson, Everett Xiaolin Wang, Ming Zhao and Bo Shen. On April 20, 2021, the Company issued 2,700 ordinary shares to Xiaqing Yang. On June 30, 2021, the Company closed a firm commitment offering of 857,844 ordinary shares at $8.16 per share with gross proceeds of $7,000,007 under its effective shelf registration statement.
gtec Voting Rights Description
VotingRightsDescription
Rights — Each holder of a right was entitled to receive one-tenth (1/10) of one ordinary share upon consummation of the Business Combination.  
gtec Warrants Description
WarrantsDescription
Public Warrants (together with the Private Warrants (as defined below), the “Warrants”), may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants have been exercisable since October 24, 2019. No Public Warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the ordinary shares issuable upon exercise of the Public Warrants and a current prospectus relating to such ordinary shares. Notwithstanding the foregoing, if a registration statement covering the ordinary shares issuable upon the exercise of the Public Warrants is not effective within 90 days from the consummation of a Business Combination, the holders may, until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise the Public Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act of 1933, as amended. If an exemption from registration is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation.
gtec Private Warrants Description
PrivateWarrantsDescription
Private warrants include (i) the 282,000 warrants underlying the units issued to the Sponsor and Chardan in a private placement in connection with our initial public offering (“Private Unit Warrants”), and (ii) 120,000 warrants held by Chardan upon the exercise of its unit purchase option to purchase 120,000 units in March 2021 (“Option Warrants,” together with Private Unit Warrants, the “Private Warrants”).
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4705312 shares
gtec Payment Of Cash
PaymentOfCash
100 usd
gtec Purchase Option Outstanding Units
PurchaseOptionOutstandingUnits
120000 shares
CY2022Q2 gtec Income Loss From Continuing Operation Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationIncludingPortionAttributableToNoncontrollingInterest
1487264 usd
CY2021Q2 gtec Income Loss From Continuing Operation Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationIncludingPortionAttributableToNoncontrollingInterest
2780753 usd
gtec Income Loss From Continuing Operation Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationIncludingPortionAttributableToNoncontrollingInterest
3274316 usd
gtec Income Loss From Continuing Operation Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationIncludingPortionAttributableToNoncontrollingInterest
4909321 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11329530 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10814479 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11329530 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10574223 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11329530 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10814479 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11329530 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10574223 shares
CY2022Q2 gtec Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
0.13
CY2021Q2 gtec Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
0.26
gtec Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
0.29
gtec Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
0.46
CY2022Q2 gtec Revenue
Revenue
20602505 usd
CY2021Q2 gtec Revenue
Revenue
28204307 usd
gtec Revenue
Revenue
49909462 usd
gtec Revenue
Revenue
52815201 usd
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.1417 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.1408 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2022Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0 usd
CY2021Q1 gtec Settlement To Counter Party
SettlementToCounterParty
65000 usd
gtec Schedule Of Noncancellable Future Minimum Lease Payments Operating And Financing Leases
ScheduleOfNoncancellableFutureMinimumLeasePaymentsOperatingAndFinancingLeases
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Years ending June 30,</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; text-align: left">2023</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">36,780</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">2024</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,900</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 10pt"><b>Total</b></span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">67,680</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
36780 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
30900 usd
CY2022Q2 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
67680 usd
CY2021 us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2021Q2 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
usd
gtec Increase In Allowance For Doubtful Accounts
IncreaseInAllowanceForDoubtfulAccounts
usd
gtec Due To Related Partie Current
DueToRelatedPartieCurrent
1598109 usd
CY2021 gtec Due To Related Partie Current
DueToRelatedPartieCurrent
3619459 usd
CY2022Q2 gtec Due From Related Partycurrent
DueFromRelatedPartycurrent
37654097 usd
CY2021Q4 gtec Due From Related Partycurrent
DueFromRelatedPartycurrent
39679565 usd
CY2022Q2 us-gaap Due From Other Related Parties Noncurrent
DueFromOtherRelatedPartiesNoncurrent
37540000 usd
CY2021Q4 us-gaap Other Receivables
OtherReceivables
39460000 usd
gtec Withdraw Funds From Related Parties
WithdrawFundsFromRelatedParties
422324 usd
gtec Deposit Funds With Related Parties
DepositFundsWithRelatedParties
1949340 usd
gtec Deposit Funds With Related Parties
DepositFundsWithRelatedParties
1284631 usd
CY2022Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
usd
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
usd
CY2021Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
usd
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
usd
CY2021Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11329530 shares
gtec Increase In Provision For Inventory
IncreaseInProvisionForInventory
usd
gtec Deferred Tax Asset
DeferredTaxAsset
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
usd
gtec Proceeds From Related Parties
ProceedsFromRelatedParties
usd
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
usd
gtec Proceeds From Third Parties
ProceedsFromThirdParties
usd
CY2022Q2 gtec Fixed Assets Decoration
FixedAssetsDecoration
usd
CY2021Q4 gtec Fixed Assets Decoration
FixedAssetsDecoration
usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
usd
CY2022Q2 us-gaap Dilutive Securities
DilutiveSecurities
usd
CY2021Q2 us-gaap Dilutive Securities
DilutiveSecurities
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001735041

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