2023 Q4 Form 10-Q Financial Statement

#000121390023088730 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $22.78M $21.84M $19.13M
YoY Change 19.04% 0.23% -16.59%
Cost Of Revenue $16.92M $15.57M $15.32M
YoY Change 10.46% -8.28% -20.43%
Gross Profit $5.856M $6.269M $3.815M
YoY Change 53.49% 30.26% 3.49%
Gross Profit Margin 25.71% 28.71% 19.94%
Selling, General & Admin $1.843M $2.217M $2.373M
YoY Change -22.35% 29.33% 86.06%
% of Gross Profit 31.46% 35.36% 62.2%
Research & Development $1.633M $1.246M $2.818M
YoY Change -42.04% 21.71% 28.72%
% of Gross Profit 27.89% 19.87% 73.87%
Depreciation & Amortization $560.7K $560.0K $586.6K
YoY Change -4.41% -11.93% -8.03%
% of Gross Profit 9.58% 8.93% 15.38%
Operating Expenses $3.666M $3.462M $5.511M
YoY Change -33.48% 26.48% 45.23%
Operating Profit $2.190M $2.806M -$1.696M
YoY Change -229.12% 35.25% 1466.43%
Interest Expense -$2.458M $72.95K -$58.75K
YoY Change 4084.39% -42.09% 137.09%
% of Operating Profit -112.25% 2.6%
Other Income/Expense, Net -$29.78M -$1.663M $286.9K
YoY Change -10480.44% -353.63% -47.74%
Pretax Income -$30.38M $1.074M -$1.469M
YoY Change 1968.63% -58.97% -451.57%
Income Tax $227.7K $878.9K -$693.0K
% Of Pretax Income 81.85%
Net Earnings -$18.84M -$887.4K -$992.7K
YoY Change 1797.6% -169.44% -402.74%
Net Earnings / Revenue -82.7% -4.06% -5.19%
Basic Earnings Per Share -$0.07
Diluted Earnings Per Share -$1.45 -$0.07 -$0.08
COMMON SHARES
Basic Shares Outstanding 13.59M shares 12.98M shares 12.58M shares
Diluted Shares Outstanding 13.59M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.80M $25.90M $24.10M
YoY Change 7.07% 9.98% 82.98%
Cash & Equivalents $22.98M $21.54M $16.30M
Short-Term Investments $2.818M $4.400M $7.801M
Other Short-Term Assets $5.550M $4.600M $1.569M
YoY Change 253.79% 4675.6% 10705.12%
Inventory $24.60M $20.50M $23.10M
Prepaid Expenses
Receivables $16.48M $20.83M $14.34M
Other Receivables $27.36M $67.10M $65.42M
Total Short-Term Assets $99.79M $138.9M $132.4M
YoY Change -24.61% 2.65% -4.98%
LONG-TERM ASSETS
Property, Plant & Equipment $15.82M $13.73M $15.59M
YoY Change 1.54% -11.44% -17.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $300.0K $250.0K
YoY Change -100.0%
Other Assets $14.67M $253.8K $283.1K
YoY Change 5082.32% 4.49% 542.09%
Total Long-Term Assets $30.69M $20.40M $22.75M
YoY Change 34.88% -8.65% -2.2%
TOTAL ASSETS
Total Short-Term Assets $99.79M $138.9M $132.4M
Total Long-Term Assets $30.69M $20.40M $22.75M
Total Assets $130.5M $159.3M $155.1M
YoY Change -15.88% 1.05% -4.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.27M $25.73M $24.82M
YoY Change 1.83% 7.42% -14.61%
Accrued Expenses $2.464M $1.337M $569.3K
YoY Change 332.78% 120.87% -41.91%
Deferred Revenue $227.4K
YoY Change -41.37%
Short-Term Debt $39.75M $6.524M $8.986M
YoY Change 342.4% -25.15% 2.57%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $72.52M $70.56M $66.21M
YoY Change 9.54% 0.43% -22.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.299M $3.400M $3.989M
YoY Change 82.98% -17.52% 76.46%
Total Long-Term Liabilities $7.299M $3.384M $3.989M
YoY Change 82.98% -17.9% 76.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.52M $70.56M $66.21M
Total Long-Term Liabilities $7.299M $3.384M $3.989M
Total Liabilities $80.40M $73.95M $70.20M
YoY Change 14.53% -0.59% -19.98%
SHAREHOLDERS EQUITY
Retained Earnings $18.54M $40.19M $37.23M
YoY Change -50.21% 5.14% 10.57%
Common Stock $30.29M $32.96M $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.08M $73.43M $71.20M
YoY Change
Total Liabilities & Shareholders Equity $130.5M $159.3M $155.1M
YoY Change -15.88% 1.05% -4.58%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$18.84M -$887.4K -$992.7K
YoY Change 1797.6% -169.44% -402.74%
Depreciation, Depletion And Amortization $560.7K $560.0K $586.6K
YoY Change -4.41% -11.93% -8.03%
Cash From Operating Activities $2.009M $830.0K $13.43M
YoY Change -85.05% -118.63% 12284.3%
INVESTING ACTIVITIES
Capital Expenditures $145.5K $310.0K $170.0K
YoY Change -14.41% 34.78% 325.0%
Acquisitions
YoY Change
Other Investing Activities -$13.59K $1.870M -$322.4K
YoY Change -95.78% 950.8% -789.18%
Cash From Investing Activities -$149.1K $1.550M -$322.4K
YoY Change -53.76% 770.98% -789.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.476M 450.0K -8.246M
YoY Change -117.9% -96.17% -559.65%
NET CHANGE
Cash From Operating Activities 2.009M 830.0K 13.43M
Cash From Investing Activities -149.1K 1.550M -322.4K
Cash From Financing Activities 1.476M 450.0K -8.246M
Net Change In Cash 3.336M 2.830M 4.867M
YoY Change -31.45% -62.1% 149.68%
FREE CASH FLOW
Cash From Operating Activities $2.009M $830.0K $13.43M
Capital Expenditures $145.5K $310.0K $170.0K
Free Cash Flow $1.864M $520.0K $13.26M
YoY Change -85.95% -111.1% 19269.87%

Facts In Submission

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UnrealizedForeignCurrencyTranslationIncomelossAttributableToGreenlandTechnologiesHoldin
-2974517 usd
gtec Unrealized Foreign Currency Translation Incomeloss Attributable To Greenland Technologies Holdin
UnrealizedForeignCurrencyTranslationIncomelossAttributableToGreenlandTechnologiesHoldin
-721427 usd
gtec Unrealized Foreign Currency Translation Incomeloss Attributable To Greenland Technologies Holdin
UnrealizedForeignCurrencyTranslationIncomelossAttributableToGreenlandTechnologiesHoldin
-5446475 usd
CY2023Q3 gtec Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
1505060 usd
CY2022Q3 gtec Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
-1466508 usd
gtec Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
204271 usd
gtec Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
-2696092 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1364163 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1696553 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2237266 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-894195 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2587363 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-646279 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2839231 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
144045 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13594530 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12222387 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13307954 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11628243 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.1
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
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 Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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 Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-4075452 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
76514417 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9119494 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
2098193 usd
CY2022Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-4441025 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
83291079 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
84917763 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
2458574 usd
CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
317332 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
87693669 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
2940196 usd
CY2023Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
703595 usd
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-4591131 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85339139 usd
CY2023Q3 gtec Non Controlling Interest Cancellation Of Subsidiary
NonControllingInterestCancellationOfSubsidiary
-3902544 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
194883 usd
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
3756643 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85388121 usd
us-gaap Profit Loss
ProfitLoss
5593653 usd
us-gaap Profit Loss
ProfitLoss
7392417 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1632430 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1849467 usd
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
141748 usd
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
884806 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-443 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-695 usd
gtec Increase In Allowance For Doubtful Account
IncreaseInAllowanceForDoubtfulAccount
387053 usd
gtec Increase In Allowance For Doubtful Account
IncreaseInAllowanceForDoubtfulAccount
4967 usd
gtec Increase In Provision For Inventory
IncreaseInProvisionForInventory
-108723 usd
gtec Increase In Provision For Inventory
IncreaseInProvisionForInventory
22846 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-74533 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
463483 usd
us-gaap Other Noncash Expense
OtherNoncashExpense
198586 usd
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-25325 usd
gtec Accrued Interest Income Derived From Loan To Rp
AccruedInterestIncomeDerivedFromLoanToRP
5332 usd
gtec Accrued Expense
AccruedExpense
818840 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7929905 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4385421 usd
us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
5420169 usd
us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
-2179528 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1335565 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1342340 usd
gtec Increase Decreasein Advance To Suppliers
IncreaseDecreaseinAdvanceToSuppliers
1298963 usd
gtec Increase Decreasein Advance To Suppliers
IncreaseDecreaseinAdvanceToSuppliers
307852 usd
gtec Increase Decrease Other Current And Noncurrent Assets
IncreaseDecreaseOtherCurrentAndNoncurrentAssets
-2682550 usd
gtec Increase Decrease Other Current And Noncurrent Assets
IncreaseDecreaseOtherCurrentAndNoncurrentAssets
11438398 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2339606 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2231682 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
91344 usd
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-162262 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
396751 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
776504 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-118429 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-103755 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
21435 usd
gtec Longterm Payables Unamortized Deferred Financing Costs
LongtermPayablesUnamortizedDeferredFinancingCosts
-190033 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-445232 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-160119 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
441455 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6121235 usd
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
592412 usd
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
363543 usd
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
426482 usd
us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
1848087 usd
gtec Proceedsfromgovernmentgrantsforconstruction
Proceedsfromgovernmentgrantsforconstruction
719628 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
444155 usd
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
50000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1223348 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
356085 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
6766842 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
10848438 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
8811111 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
9918787 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
4134691 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-4279261 usd
gtec Prepayment Of Leasefinancing Obligations
PrepaymentOfLeasefinancingObligations
-210942 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-1908456 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
703595 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
188341 usd
gtec Proceeds From Equity And Debt Financing
ProceedsFromEquityAndDebtFinancing
9196563 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1386827 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3961098 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
3051630 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1804052 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1567033 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-969309 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19729056 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17800892 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24347719 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15027531 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21543963 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11306600 usd
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2803756 usd
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
3720931 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
797593 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
615632 usd
us-gaap Interest Paid Net
InterestPaidNet
215487 usd
us-gaap Interest Paid Net
InterestPaidNet
320526 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
67560000 usd
gtec Transmission Product Sale Of Sets
TransmissionProductSaleOfSets
112414 pure
gtec Transmission Product Sale Of Sets
TransmissionProductSaleOfSets
102144 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, GEX-8000, an all-electric 8.0 ton rated load lithium powered wheeled excavator, and GEL-5000, an all-electric 5.0 ton rated load lithium wheeled front loader. These products are available for purchase in the United States (“U.S.”) market. In August 2022, Greenland launched a 54,000 square foot industrial electric vehicle assembly site in Baltimore, Maryland to support local services, assembly and distribution of its electric industrial heavy equipment products line.
gtec Percentage Of Outstanding Ordinary Shares
PercentageOfOutstandingOrdinaryShares
0.4786 pure
CY2007Q2 us-gaap Equity Ownership Percentage Excluding Consolidated Entity And Equity Method Investee
EquityOwnershipPercentageExcludingConsolidatedEntityAndEquityMethodInvestee
0.7547 pure
CY2010Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
2600000 usd
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; 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 nine months ended September 30, 2023 and 2022 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>
CY2023Q3 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
7.296 pure
CY2022Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
6.8972 pure
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2023Q3 gtec Allowance Of Doubtful Accounts
AllowanceOfDoubtfulAccounts
1090000.00 usd
CY2022Q4 gtec Allowance Of Doubtful Accounts
AllowanceOfDoubtfulAccounts
760000 usd
CY2023Q3 gtec Advance To Supplier
AdvanceToSupplier
1690000 usd
CY2022Q4 gtec Advance To Supplier
AdvanceToSupplier
410000 usd
gtec Straightline Method Lease Term
StraightlineMethodLeaseTerm
P50Y
gtec Implicit Interest Rate
ImplicitInterestRate
0.05 pure
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.0009 pure
CY2022Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.0008 pure
gtec Percentage Of Warrants Expenditures Amount
PercentageOfWarrantsExpendituresAmount
0.0019 pure
gtec Percentage Of Warrants Expenditures Amount
PercentageOfWarrantsExpendituresAmount
0.0055 pure
CY2023Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
21836761 usd
CY2022Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
21786862 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
67555570 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
71696324 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1245646 usd
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1023443 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3790931 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2968572 usd
CY2023Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
1580000 usd
CY2022Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
1810000 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 Number Of Reporting Units
NumberOfReportingUnits
1 pure
us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.10 pure
CY2023Q3 gtec Income Short Term Investment Other
IncomeShortTermInvestmentOther
4393777 usd
CY2022Q4 gtec Income Short Term Investment Other
IncomeShortTermInvestmentOther
7800723 usd
CY2023Q3 us-gaap Other Short Term Investments
OtherShortTermInvestments
500000 usd
CY2023Q1 gtec Other Short Terms Borrowings
OtherShortTermsBorrowings
493943 usd
CY2023Q1 gtec Other Short Terms Borrowings
OtherShortTermsBorrowings
3400005 cny
CY2023Q3 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
4358553 usd
CY2023Q3 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
31800000 cny
CY2023Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
4393777 usd
CY2023Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
32057000 cny
CY2023Q3 us-gaap Fair Value Concentration Of Risk Accounts Receivable
FairValueConcentrationOfRiskAccountsReceivable
18593084 usd
gtec Concentration Risk Percntage
ConcentrationRiskPercntage
0.2752 pure
CY2022Q3 us-gaap Fair Value Concentration Of Risk Accounts Receivable
FairValueConcentrationOfRiskAccountsReceivable
23103292 usd
gtec Concentration Risk Percntage
ConcentrationRiskPercntage
0.3222 pure
CY2023Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
21920180 usd
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
15100085 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
1093826 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
762325 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
20826354 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14337760 usd
gtec Schedule Of Allowance For Doubtful Accounts
ScheduleOfAllowanceForDoubtfulAccounts
Changes in the allowance for doubtful accounts are as follows:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <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="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2022</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: 76%; text-align: left">Beginning balance</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 9%; font-weight: bold; text-align: right">762,325</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 9%; font-weight: bold; text-align: right">859,319</td><td style="width: 1%; font-weight: bold; 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">387,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(32,316</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">(55,552</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">(64,678</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">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,093,826</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">762,325</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
762325 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
859319 usd
CY2023Q3 gtec Additional Provision For Doubtful Accounts
AdditionalProvisionForDoubtfulAccounts
387053 usd
CY2022Q4 gtec Additional Provision For Doubtful Accounts
AdditionalProvisionForDoubtfulAccounts
-32316 usd
CY2023Q3 gtec Effect Of Fx Change
EffectOfFXChange
55552 usd
CY2022Q4 gtec Effect Of Fx Change
EffectOfFXChange
64678 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1093826 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
762325 usd
CY2022Q4 gtec Bank Notes Receivable
BankNotesReceivable
26713919 usd
CY2023Q3 gtec Commercial Note Receivable
CommercialNoteReceivable
674284 usd
CY2023Q3 gtec Bank Notes Receivable
BankNotesReceivable
31728933 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
7923025 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
7975097 usd
CY2023Q3 gtec Revolving Materials
RevolvingMaterials
1102485 usd
CY2022Q4 gtec Revolving Materials
RevolvingMaterials
1122313 usd
CY2023Q3 gtec Consigned Processing Materials
ConsignedProcessingMaterials
51869 usd
CY2022Q4 gtec Consigned Processing Materials
ConsignedProcessingMaterials
15056 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
2418252 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2255453 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
9467606 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
12104309 usd
CY2023Q3 us-gaap Inventory Adjustments
InventoryAdjustments
-465071 usd
CY2022Q4 us-gaap Inventory Adjustments
InventoryAdjustments
-375846 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
20498166 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
23096382 usd
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
375846 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
23793 usd
CY2023Q3 us-gaap Inventory Write Down
InventoryWriteDown
108723 usd
CY2022Q4 us-gaap Inventory Write Down
InventoryWriteDown
359534 usd
CY2023Q3 gtec Inventory Effect Of Fx Change
InventoryEffectOfFXChange
-19498 usd
CY2022Q4 gtec Inventory Effect Of Fx Change
InventoryEffectOfFXChange
-7481 usd
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
465071 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
375846 usd
gtec Schedual Of Notes Receivable
SchedualOfNotesReceivable
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <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="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2022</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: 76%; text-align: left">Bank notes receivable:</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">31,728,933</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">26,713,919</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">674,284</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">2,034,960</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">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">32,403,217</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">28,748,879</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2022Q4 gtec Commercial Note Receivable
CommercialNoteReceivable
2034960 usd
CY2023Q3 us-gaap Notes Receivable Net
NotesReceivableNet
32403217 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
28748879 usd
CY2023Q3 gtec Proceeds From Note Receivables
ProceedsFromNoteReceivables
21620000 usd
CY2023Q3 gtec Proceeds From Issuance Of Bank Acceptance Notes
ProceedsFromIssuanceOfBankAcceptanceNotes
20980000 usd
CY2022Q4 gtec Proceeds From Note Receivables
ProceedsFromNoteReceivables
15510000 usd
CY2022Q4 gtec Proceeds From Issuance Of Bank Acceptance Notes
ProceedsFromIssuanceOfBankAcceptanceNotes
13270000 usd
CY2023Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
11303276 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
11781256 usd
CY2023Q3 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
20142720 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
21010613 usd
CY2023Q3 gtec Motor Vehicles
MotorVehicles
322288 usd
CY2022Q4 gtec Motor Vehicles
MotorVehicles
315708 usd
CY2023Q3 gtec Electronic Equipment
ElectronicEquipment
237043 usd
CY2022Q4 gtec Electronic Equipment
ElectronicEquipment
223806 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32005327 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33331383 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18291335 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17763247 usd
CY2023Q3 gtec Property Plants And Equipment Net
PropertyPlantsAndEquipmentNet
13713992 usd
CY2022Q4 gtec Property Plants And Equipment Net
PropertyPlantsAndEquipmentNet
15568136 usd
CY2023Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
16144 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
17078 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13730136 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15585214 usd
gtec Cost Of Revenue And Inventories
CostOfRevenueAndInventories
1120000 usd
CY2023Q3 gtec Buildings Net
BuildingsNet
8753950 usd
CY2022Q4 gtec Buildings Net
BuildingsNet
9599313 usd
CY2023Q3 gtec Restricted Assets Total
RestrictedAssetsTotal
8753950 usd
CY2022Q4 gtec Restricted Assets Total
RestrictedAssetsTotal
9599313 usd
gtec Short Term Debt Loan
ShortTermDebtLoan
P1Y
CY2023Q3 gtec Ownershipof Buildings For Net Book Value
OwnershipofBuildingsForNetBookValue
63890000 cny
CY2023Q3 gtec Ownershipof Buildings For Net Book Value
OwnershipofBuildingsForNetBookValue
8750000 usd
CY2023Q3 gtec Loan Facility With Maximum Exposure
LoanFacilityWithMaximumExposure
167730000 cny
gtec Schedule Of Land Use Rights
ScheduleOfLandUseRights
Land use rights consisted of the following:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <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="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">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="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2022</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: 76%; text-align: left">Land use rights, cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,216,914</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,460,738</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">(840,013</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">(821,671</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">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,376,901</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,639,067</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2023Q3 gtec Land Use Rights Cost
LandUseRightsCost
4216914 usd
CY2022Q4 gtec Land Use Rights Cost
LandUseRightsCost
4460738 usd
CY2023Q3 gtec Less Accumulated Amortization
LessAccumulatedAmortization
840013 usd
CY2022Q4 gtec Less Accumulated Amortization
LessAccumulatedAmortization
821671 usd
CY2023Q3 gtec Land Use Rights Net
LandUseRightsNet
3376901 usd
CY2022Q4 gtec Land Use Rights Net
LandUseRightsNet
3639067 usd
CY2023Q3 gtec Land Use Rights Assets Net
LandUseRightsAssetsNet
3380000 usd
CY2022Q4 gtec Land Use Rights Assets Net
LandUseRightsAssetsNet
3640000 usd
CY2023Q3 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year One
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearOne
87476 usd
CY2023Q3 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Two
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearTwo
87476 usd
CY2023Q3 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Three
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearThree
87476 usd
CY2023Q3 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Four
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearFour
87476 usd
CY2023Q3 us-gaap Present Value Of Future Insurance Profits Amortization Expense Year Five
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearFive
87476 usd
CY2023Q3 gtec Present Value Of Future Insurance Profits Amortization Expense Thereafter
PresentValueOfFutureInsuranceProfitsAmortizationExpenseThereafter
2939521 usd
CY2023Q3 gtec Present Values Of Future Insurance Profits Amortization Expense
PresentValuesOfFutureInsuranceProfitsAmortizationExpense
3376901 usd
CY2023Q3 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
30713480 usd
CY2022Q4 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
28272472 usd
CY2023Q3 us-gaap Notes Payable To Bank
NotesPayableToBank
30713480 usd
CY2022Q4 us-gaap Notes Payable To Bank
NotesPayableToBank
28272472 usd
gtec Restricted Cash And Cash Equivalents Value
RestrictedCashAndCashEquivalentsValue
2800000 usd
CY2022 gtec Restricted Cash And Cash Equivalents Value
RestrictedCashAndCashEquivalentsValue
3430000 usd
gtec Note Receivable Date Of Issuance
NoteReceivableDateOfIssuance
21620000 usd
CY2022 gtec Note Receivable Date Of Issuance
NoteReceivableDateOfIssuance
15510000 usd
gtec Land Use Right
LandUseRight
3380000 usd
CY2022 gtec Land Use Right
LandUseRight
3000000 usd
gtec Percentage Of Bank Charges
PercentageOfBankCharges
0.0005 pure
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
25731835 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
24817165 usd
CY2023Q3 gtec Collateralized Bank Loans
CollateralizedBankLoans
5427632 usd
CY2022Q4 gtec Collateralized Bank Loans
CollateralizedBankLoans
7536392 usd
CY2023Q3 gtec Unsecured Bank Loans
UnsecuredBankLoans
1096491 usd
CY2022Q4 gtec Unsecured Bank Loans
UnsecuredBankLoans
1449863 usd
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
6524123 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
8986255 usd
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
6524123 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
8986255 usd
CY2023Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
158368 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
747923 usd
CY2023Q3 gtec Other Tax Payables
OtherTaxPayables
1087535 usd
CY2022Q4 gtec Other Tax Payables
OtherTaxPayables
141772 usd
CY2023Q3 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
71685 usd
CY2022Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
88403 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1337347 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
569292 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2654935 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1547390 usd
CY2023Q3 gtec Other Long Term Liability Debt Of Subsidy
OtherLongTermLiabilityDebtOfSubsidy
1577010 usd
CY2022Q4 gtec Other Long Term Liability Debt Of Subsidy
OtherLongTermLiabilityDebtOfSubsidy
1812759 usd
CY2023Q3 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
1577010 usd
CY2022Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
1812759 usd
CY2023Q3 gtec Amount Of Income Granted
AmountOfIncomeGranted
240000 usd
CY2022Q3 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
4.17
CY2022Q3 gtec Prefunded Warrant Price
PrefundedWarrantPrice
4.169
CY2022Q3 us-gaap Sale Leaseback Transaction Gross Proceeds Investing Activities
SaleLeasebackTransactionGrossProceedsInvestingActivities
6876222 usd
gtec Warrants Expire Year
WarrantsExpireYear
P5Y
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”).
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4705312 shares
us-gaap Operating Lease Payments
OperatingLeasePayments
443676 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2253162 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
485207 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1807408 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2292615 usd
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
13594530 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
13594530 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12978504 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12978504 shares
CY2019 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
3875458 shares
CY2019 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
81400 shares
CY2019 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
1906542 shares
CY2023Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
468200 shares
CY2022Q3 gtec Commitment Offering Ordinary Shares
CommitmentOfferingOrdinaryShares
1250000 shares
CY2022Q3 gtec Prefunded Warrants Shares
PrefundedWarrantsShares
398974 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
616026 shares
CY2022Q3 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
4.17
CY2023Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
616026 shares
gtec Payment Of Cash
PaymentOfCash
100 usd
gtec Purchase Option Outstanding Units
PurchaseOptionOutstandingUnits
120000 shares
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-887420 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
1277964 usd
us-gaap Net Income Loss
NetIncomeLoss
2958693 usd
us-gaap Net Income Loss
NetIncomeLoss
4552280 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13594530 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12222387 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13307954 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11628243 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13594530 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12222387 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13307954 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11628243 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.1
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 pure
CY2023Q3 us-gaap Revenues
Revenues
21836761 usd
CY2022Q3 us-gaap Revenues
Revenues
21786862 usd
us-gaap Revenues
Revenues
67555570 usd
us-gaap Revenues
Revenues
71696324 usd
us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.2093 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 Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.1585 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 usd
CY2022 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 usd
CY2023Q4 us-gaap Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
9620000 usd
CY2023Q4 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
69770000 cny
CY2021Q3 us-gaap Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
5230000 usd
CY2022Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
10000000 cny
CY2022Q2 us-gaap Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
8280000 usd
gtec Schedule Of Noncancellable Future Minimum Lease Payments Operating And Financing Leases
ScheduleOfNoncancellableFutureMinimumLeasePaymentsOperatingAndFinancingLeases
The following are the aggregate non-cancellable future minimum lease payments under operating and financing leases<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">For the years ending September 30,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Operating <br/> Leases</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: 88%; text-align: justify">2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">590,350</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">585,084</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">602,020</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">619,552</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">157,878</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-align: justify; padding-left: 9pt">Total lease payments</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,554,884</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
590350 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
585084 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
602020 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
619552 usd
CY2023Q3 gtec Operating Leases Future Minimum Payments Receivable Thereafter1
OperatingLeasesFutureMinimumPaymentsReceivableThereafter1
157878 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2554884 usd
CY2023Q3 gtec Due To Related Parties
DueToRelatedParties
4080627 usd
CY2022Q4 gtec Due To Related Parties
DueToRelatedParties
1693315 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
34460000 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
36460000 usd
CY2022Q3 gtec Restricted Stock Vested Not Issued
RestrictedStockVestedNotIssued
usd
gtec Restricted Stock Vested Not Issued
RestrictedStockVestedNotIssued
usd
gtec Restricted Stock Vested Not Issued
RestrictedStockVestedNotIssued
usd
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2023Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
usd
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
usd
gtec Accrued Interest Income Derived From Loan To Rp
AccruedInterestIncomeDerivedFromLoanToRP
usd
gtec Accrued Expense
AccruedExpense
usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
usd
gtec Longterm Payables Unamortized Deferred Financing Costs
LongtermPayablesUnamortizedDeferredFinancingCosts
usd
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
usd
us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
usd
gtec Proceedsfromgovernmentgrantsforconstruction
Proceedsfromgovernmentgrantsforconstruction
usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
usd
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
usd
gtec Prepayment Of Leasefinancing Obligations
PrepaymentOfLeasefinancingObligations
usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
usd
us-gaap Payments Of Dividends
PaymentsOfDividends
usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
usd
gtec Proceeds From Equity And Debt Financing
ProceedsFromEquityAndDebtFinancing
usd
CY2023Q3 gtec Fixed Assets Decoration
FixedAssetsDecoration
usd
CY2022Q4 gtec Fixed Assets Decoration
FixedAssetsDecoration
usd
CY2023Q3 gtec Machinery Net
MachineryNet
usd
CY2022Q4 gtec Machinery Net
MachineryNet
usd
CY2023Q3 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
CY2022Q4 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
CY2023Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2023Q3 gtec Restricted Stock Vested Not Issued
RestrictedStockVestedNotIssued
usd
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001735041

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