2024 Q2 Form 10-Q Financial Statement
#000121390024043583 Filed on May 15, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
---|---|---|---|
Revenue | $23.02M | $22.72M | $22.78M |
YoY Change | -2.34% | 2.59% | 19.04% |
Cost Of Revenue | $16.24M | $300.0K | $16.92M |
YoY Change | -2.39% | -98.2% | 10.46% |
Gross Profit | $6.774M | $5.647M | $5.856M |
YoY Change | -2.22% | 2.24% | 53.49% |
Gross Profit Margin | 29.43% | 24.85% | 25.71% |
Selling, General & Admin | $1.665M | $2.733M | $1.843M |
YoY Change | -20.49% | 34.67% | -22.35% |
% of Gross Profit | 24.57% | 48.4% | 31.46% |
Research & Development | $1.123M | $987.7K | $1.633M |
YoY Change | -21.21% | -11.8% | -42.04% |
% of Gross Profit | 16.58% | 17.49% | 27.89% |
Depreciation & Amortization | $502.6K | $589.8K | $560.7K |
YoY Change | -4.01% | 8.68% | -4.41% |
% of Gross Profit | 7.42% | 10.45% | 9.58% |
Operating Expenses | $2.788M | $3.721M | $3.666M |
YoY Change | -20.78% | 18.14% | -33.48% |
Operating Profit | $3.986M | $1.926M | $2.190M |
YoY Change | 16.94% | -18.86% | -229.12% |
Interest Expense | $179.7K | $43.84K | -$2.458M |
YoY Change | 126.05% | -34.07% | 4084.39% |
% of Operating Profit | 4.51% | 2.28% | -112.25% |
Other Income/Expense, Net | $518.3K | $296.1K | -$29.78M |
YoY Change | -502.53% | -29.05% | -10480.44% |
Pretax Income | $6.554M | $3.383M | -$30.38M |
YoY Change | 101.97% | 22.78% | 1968.63% |
Income Tax | $680.8K | -$186.0K | $227.7K |
% Of Pretax Income | 10.39% | -5.5% | |
Net Earnings | $4.651M | $2.502M | -$18.84M |
YoY Change | 93.86% | 72.93% | 1797.6% |
Net Earnings / Revenue | 20.21% | 11.01% | -82.7% |
Basic Earnings Per Share | $0.34 | $0.18 | |
Diluted Earnings Per Share | $0.34 | $0.18 | -$1.45 |
COMMON SHARES | |||
Basic Shares Outstanding | 13.59M shares | 13.59M shares | 13.59M shares |
Diluted Shares Outstanding | 13.59M shares | 13.59M shares |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $22.62M | $18.78M | $25.80M |
YoY Change | 8.33% | -12.12% | 7.07% |
Cash & Equivalents | $17.12M | $15.99M | $22.98M |
Short-Term Investments | $5.504M | $2.795M | $2.818M |
Other Short-Term Assets | $6.489M | $6.335M | $5.550M |
YoY Change | 1628.09% | 935.85% | 253.79% |
Inventory | $20.25M | $24.75M | $24.60M |
Prepaid Expenses | |||
Receivables | $21.88M | $21.16M | $16.48M |
Other Receivables | $31.19M | $32.35M | $27.36M |
Total Short-Term Assets | $102.4M | $103.4M | $99.79M |
YoY Change | -23.16% | -23.52% | -24.61% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $15.59M | $16.11M | $15.82M |
YoY Change | 10.29% | 6.21% | 1.54% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $0.00 | ||
YoY Change | -100.0% | ||
Other Assets | $475.1K | $335.3K | $14.67M |
YoY Change | 85.62% | 31.32% | 5082.32% |
Total Long-Term Assets | $24.32M | $35.81M | $30.69M |
YoY Change | 16.46% | 60.84% | 34.88% |
TOTAL ASSETS | |||
Total Short-Term Assets | $102.4M | $103.4M | $99.79M |
Total Long-Term Assets | $24.32M | $35.81M | $30.69M |
Total Assets | $126.8M | $139.2M | $130.5M |
YoY Change | -17.79% | -11.59% | -15.88% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $24.79M | $30.85M | $25.27M |
YoY Change | -0.76% | 8.53% | 1.83% |
Accrued Expenses | $1.548M | $1.439M | $2.464M |
YoY Change | 44.28% | 67.12% | 332.78% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $8.255M | $39.75M | |
YoY Change | 6.96% | 342.4% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $63.98M | $79.81M | $72.52M |
YoY Change | -2.0% | 21.1% | 9.54% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $3.995M | $6.057M | $7.299M |
YoY Change | 11.91% | 58.16% | 82.98% |
Total Long-Term Liabilities | $3.995M | $6.057M | $7.299M |
YoY Change | 11.91% | 58.16% | 82.98% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $63.98M | $79.81M | $72.52M |
Total Long-Term Liabilities | $3.995M | $6.057M | $7.299M |
Total Liabilities | $67.98M | $85.87M | $80.40M |
YoY Change | -1.28% | 23.14% | 14.53% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $25.69M | $21.04M | $18.54M |
YoY Change | -37.46% | -45.61% | -50.21% |
Common Stock | $30.29M | $30.29M | $30.29M |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $56.28M | $51.93M | $50.08M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $126.8M | $139.2M | $130.5M |
YoY Change | -17.79% | -11.59% | -15.88% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $4.651M | $2.502M | -$18.84M |
YoY Change | 93.86% | 72.93% | 1797.6% |
Depreciation, Depletion And Amortization | $502.6K | $589.8K | $560.7K |
YoY Change | -4.01% | 8.68% | -4.41% |
Cash From Operating Activities | $11.35M | -$8.422M | $2.009M |
YoY Change | -373.54% | -324.22% | -85.05% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $97.15K | $1.185M | $145.5K |
YoY Change | -62.63% | 5825.15% | -14.41% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $2.560K | -$695.6K | -$13.59K |
YoY Change | -100.49% | -456.3% | -95.78% |
Cash From Investing Activities | -$94.59K | -$1.881M | -$149.1K |
YoY Change | -81.91% | -1063.34% | -53.76% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -9.826M | $2.340M | 1.476M |
YoY Change | -322.89% | -167.54% | -117.9% |
NET CHANGE | |||
Cash From Operating Activities | 11.35M | -$8.422M | 2.009M |
Cash From Investing Activities | -94.59K | -$1.881M | -149.1K |
Cash From Financing Activities | -9.826M | $2.340M | 1.476M |
Net Change In Cash | 1.426M | -$7.963M | 3.336M |
YoY Change | -643.33% | -1734.95% | -31.45% |
FREE CASH FLOW | |||
Cash From Operating Activities | $11.35M | -$8.422M | $2.009M |
Capital Expenditures | $97.15K | $1.185M | $145.5K |
Free Cash Flow | $11.25M | -$9.607M | $1.864M |
YoY Change | -355.2% | -357.13% | -85.95% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.18 | |
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usd | |
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usd | |
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||
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10-Q | |
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true | |
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2024-03-31 | |
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|
001-38605 | |
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GREENLAND TECHNOLOGIES HOLDING CORPORATION | |
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D8 | |
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50 Millstone Road | |
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Building 400 Suite 130 | |
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East Windsor | |
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NJ | |
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US | |
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08512 | |
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1 (888) | |
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827-4832 | |
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Ordinary shares, no par value | |
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CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
66493 | usd |
CY2024Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
1035306 | usd |
CY2024Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
296148 | usd |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
417382 | usd |
CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
3383247 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2755432 | usd |
CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-186001 | usd |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
296858 | usd |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
3569248 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
2458574 | usd |
CY2024Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
1067045 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
1011599 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2502203 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1446975 | usd |
CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-908762 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
317332 | usd |
CY2024Q1 | gtec |
Unrealized Foreign Currency Translation Incomeloss Attribute To Greenland Technologies Holding
UnrealizedForeignCurrencyTranslationIncomelossAttributeToGreenlandTechnologiesHolding
|
-653808 | usd |
CY2023Q1 | gtec |
Unrealized Foreign Currency Translation Incomeloss Attribute To Greenland Technologies Holding
UnrealizedForeignCurrencyTranslationIncomelossAttributeToGreenlandTechnologiesHolding
|
212352 | usd |
CY2024Q1 | gtec |
Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
|
-254954 | usd |
CY2023Q1 | gtec |
Unrealized Foreign Currency Translation Income Attributable To Noncontrolling Interest
UnrealizedForeignCurrencyTranslationIncomeAttributableToNoncontrollingInterest
|
104980 | usd |
CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1848395 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1659327 | usd |
CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
812091 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
1116579 | usd |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
13594530 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12978504 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.18 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.11 | |
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 |
CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
50653401 | usd |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
3569248 | usd |
CY2024Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-908762 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
53313887 | usd |
CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
3569248 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
2458574 | usd |
CY2024Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
589841 | usd |
CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
542713 | usd |
CY2024Q1 | gtec |
Amortization Of Deffered Subsidy
AmortizationOfDefferedSubsidy
|
57081 | usd |
CY2024Q1 | us-gaap |
Provision For Other Credit Losses
ProvisionForOtherCreditLosses
|
570841 | usd |
CY2023Q1 | us-gaap |
Provision For Other Credit Losses
ProvisionForOtherCreditLosses
|
240845 | usd |
CY2024Q1 | gtec |
Increase In Provision For Inventory
IncreaseInProvisionForInventory
|
120540 | usd |
CY2023Q1 | gtec |
Increase In Provision For Inventory
IncreaseInProvisionForInventory
|
-59521 | usd |
CY2024Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-1035306 | usd |
CY2024Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-186001 | usd |
CY2023Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-51647 | usd |
CY2024Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
158643 | usd |
CY2024Q1 | gtec |
Accrued Interest Income Derived From Loan To Rp
AccruedInterestIncomeDerivedFromLoanToRP
|
2385 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
789706 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
5543704 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
5243127 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
|
5466894 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
|
107492 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
414082 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-636181 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
|
320644 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
|
212885 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
6121868 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-2874700 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
6020879 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
3510741 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
205041 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
-32504 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-905069 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-574123 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-34633 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-8611 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-152955 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-301935 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8422330 | usd |
CY2024Q1 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
7.2203 | pure |
CY2023Q4 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
7.0999 | pure |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3756318 | usd |
CY2024Q1 | us-gaap |
Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
|
1185032 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
|
16929 | usd |
CY2024Q1 | gtec |
Repayment Of Loans Lend To Third Parties
RepaymentOfLoansLendToThirdParties
|
695555 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
262145 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
|
50000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1880587 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
195216 | usd |
CY2024Q1 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
5564443 | usd |
CY2023Q1 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
1169197 | usd |
CY2024Q1 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
278222 | usd |
CY2023Q1 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
2481621 | usd |
CY2024Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-2946199 | usd |
CY2023Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-3175115 | usd |
CY2023Q1 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
1461497 | usd |
CY2023Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
438449 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2340022 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-3464491 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-7962895 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
487043 | usd |
CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-391202 | usd |
CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
44518 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
28189387 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
19729056 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
19835290 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
20260617 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
15985073 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
15401387 | usd |
CY2024Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
3850217 | usd |
CY2023Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
4859230 | usd |
CY2024Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
181149 | usd |
CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
27858 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
77073 | usd |
CY2024Q1 | gtec |
Transmission Product Sale Of Sets
TransmissionProductSaleOfSets
|
41866 | pure |
CY2023Q1 | gtec |
Transmission Product Sale Of Sets
TransmissionProductSaleOfSets
|
36841 | pure |
CY2024Q1 | gtec |
Electric Industrial Vehicles Description
ElectricIndustrialVehiclesDescription
|
HEVI’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. In addition, HEVI introduced a line of mobile DC battery chargers that support DC powered EV applications in the North America market. 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. | |
CY2024Q1 | gtec |
Percentage Of Outstanding Ordinary Shares
PercentageOfOutstandingOrdinaryShares
|
0.4569 | pure |
CY2007Q2 | us-gaap |
Equity Ownership Percentage Excluding Consolidated Entity And Equity Method Investee
EquityOwnershipPercentageExcludingConsolidatedEntityAndEquityMethodInvestee
|
0.754717 | pure |
CY2010Q2 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
|
2600000 | usd |
CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 three months ended March 31, 2024 and 2023 include allowance for expected credit losses, reserve for inventories, fair value of warrant liability, useful life of property, plant and equipment, assumptions used in assessing impairment of long-term assets, estimates used in accounting for leases in accordance with FASB ASC 842, Leases and valuation of deferred tax assets and accruals for taxes due.</span></p> | |
CY2023Q1 | gtec |
Percentage Of Warrants Expenditures Amount
PercentageOfWarrantsExpendituresAmount
|
0.0046 | pure |
CY2024Q1 | gtec |
Foreign Currency Average Exchange Rate Translation1
ForeignCurrencyAverageExchangeRateTranslation1
|
7.1885 | pure |
CY2023Q1 | gtec |
Foreign Currency Average Exchange Rate Translation1
ForeignCurrencyAverageExchangeRateTranslation1
|
6.8423 | pure |
CY2024Q1 | us-gaap |
Short Term Investments
ShortTermInvestments
|
2794690 | usd |
CY2024Q1 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
3049299 | usd |
CY2024Q1 | us-gaap |
Fair Value Net Asset Liability
FairValueNetAssetLiability
|
5843989 | usd |
CY2024Q1 | gtec |
Advance To Supplier
AdvanceToSupplier
|
610000 | usd |
CY2023Q4 | gtec |
Advance To Supplier
AdvanceToSupplier
|
290000 | usd |
CY2024Q1 | us-gaap |
Revenues
Revenues
|
22723591 | usd |
CY2023Q1 | us-gaap |
Revenues
Revenues
|
22149360 | usd |
CY2024Q1 | gtec |
Straightline Method Lease Term
StraightlineMethodLeaseTerm
|
P50Y | |
CY2024Q1 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.0006 | pure |
CY2023Q1 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.0007 | pure |
CY2024Q1 | gtec |
Percentage Of Warrants Expenditures Amount
PercentageOfWarrantsExpendituresAmount
|
0.0044 | pure |
CY2024Q1 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
990000 | usd |
CY2023Q1 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
1120000 | usd |
CY2024Q1 | us-gaap |
Other Long Term Debt
OtherLongTermDebt
|
1450000 | usd |
CY2023Q4 | us-gaap |
Other Long Term Debt
OtherLongTermDebt
|
1530000 | usd |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
|
0.50 | pure |
CY2024Q1 | gtec |
Owned Foreign Enterprise Percentage
OwnedForeignEnterprisePercentage
|
0.10 | pure |
CY2024Q1 | gtec |
Registered Capital Percentage
RegisteredCapitalPercentage
|
0.50 | pure |
CY2024Q1 | us-gaap |
Number Of Reporting Units
NumberOfReportingUnits
|
1 | pure |
CY2024Q1 | us-gaap |
Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
|
0.10 | pure |
CY2024Q1 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
500000 | cny |
CY2024Q1 | us-gaap |
Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
|
250000 | usd |
CY2024Q1 | gtec |
Bank Account Balance
BankAccountBalance
|
1411614 | usd |
CY2023Q4 | gtec |
Bank Account Balance
BankAccountBalance
|
3797076 | usd |
CY2024Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2024Q1 | us-gaap |
Short Term Investments
ShortTermInvestments
|
2794690 | usd |
CY2023Q4 | us-gaap |
Short Term Investments
ShortTermInvestments
|
2818068 | usd |
CY2023Q4 | us-gaap |
Investment Owned At Cost
InvestmentOwnedAtCost
|
2824500 | usd |
CY2023Q4 | us-gaap |
Investment Owned At Cost
InvestmentOwnedAtCost
|
20000000 | cny |
CY2024Q1 | us-gaap |
Investment Owned At Fair Value
InvestmentOwnedAtFairValue
|
2794690 | usd |
CY2024Q1 | us-gaap |
Investment Owned At Fair Value
InvestmentOwnedAtFairValue
|
20178500 | cny |
CY2024Q1 | us-gaap |
Fair Value Concentration Of Risk Accounts Receivable
FairValueConcentrationOfRiskAccountsReceivable
|
5755138 | usd |
CY2023Q1 | us-gaap |
Fair Value Concentration Of Risk Accounts Receivable
FairValueConcentrationOfRiskAccountsReceivable
|
6874352 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
10704407 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
8451944 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
22581348 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
17351398 | usd |
CY2024Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
1421720 | usd |
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
867865 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
21159628 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
16483533 | usd |
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
867865 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
762325 | usd |
CY2024Q1 | gtec |
Additional Provision Charged To Expense
AdditionalProvisionChargedToExpense
|
-570841 | usd |
CY2023 | gtec |
Additional Provision Charged To Expense
AdditionalProvisionChargedToExpense
|
-127646 | usd |
CY2024Q1 | gtec |
Effect Of Fx Change
EffectOfFXChange
|
16986 | usd |
CY2023 | gtec |
Effect Of Fx Change
EffectOfFXChange
|
22106 | usd |
CY2024Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
1421720 | usd |
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
867865 | usd |
CY2024Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
9363172 | usd |
CY2023Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
9337110 | usd |
CY2024Q1 | gtec |
Inventory Revolving Material
InventoryRevolvingMaterial
|
1157597 | usd |
CY2023Q4 | gtec |
Inventory Revolving Material
InventoryRevolvingMaterial
|
1143558 | usd |
CY2024Q1 | us-gaap |
Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
|
66593 | usd |
CY2023Q4 | us-gaap |
Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
|
60754 | usd |
CY2024Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
2372074 | usd |
CY2023Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
2501368 | usd |
CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
12299745 | usd |
CY2023Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
12192937 | usd |
CY2024Q1 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
512937 | usd |
CY2023Q4 | us-gaap |
Inventory Adjustments
InventoryAdjustments
|
638932 | usd |
CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
24746244 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
24596795 | usd |
CY2023Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
638932 | usd |
CY2022Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
375846 | usd |
CY2024Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
120540 | usd |
CY2023 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
271233 | usd |
CY2024Q1 | us-gaap |
Inventory Lifo Reserve Effect On Income Net
InventoryLIFOReserveEffectOnIncomeNet
|
-5455 | usd |
CY2023 | us-gaap |
Inventory Lifo Reserve Effect On Income Net
InventoryLIFOReserveEffectOnIncomeNet
|
-8147 | usd |
CY2024Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
512937 | usd |
CY2023Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
638932 | usd |
CY2024Q1 | us-gaap |
Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
|
32125580 | usd |
CY2023Q4 | us-gaap |
Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
|
27135249 | usd |
CY2024Q1 | us-gaap |
Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
|
24960000 | usd |
CY2024Q1 | us-gaap |
Bank Acceptances Executed
BankAcceptancesExecuted
|
20340000 | usd |
CY2023Q4 | us-gaap |
Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
|
21850000 | usd |
CY2023Q4 | us-gaap |
Bank Acceptances Executed
BankAcceptancesExecuted
|
19350000 | usd |
CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
490000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
540000 | usd |
CY2024Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
300000 | usd |
CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
300000 | usd |
CY2024Q1 | us-gaap |
Other Restricted Assets
OtherRestrictedAssets
|
1958936 | usd |
CY2023Q4 | us-gaap |
Other Restricted Assets
OtherRestrictedAssets
|
2024994 | usd |
CY2024Q1 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
60010000.00 | cny |
CY2024Q1 | us-gaap |
Land
Land
|
4261125 | usd |
CY2023Q4 | us-gaap |
Land
Land
|
4333386 | usd |
CY2024Q1 | us-gaap |
Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
|
891431 | usd |
CY2023Q4 | us-gaap |
Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
|
884881 | usd |
CY2024Q1 | us-gaap |
Land Improvements
LandImprovements
|
3369694 | usd |
CY2023Q4 | us-gaap |
Land Improvements
LandImprovements
|
3448505 | usd |
CY2024Q1 | us-gaap |
Land And Land Improvements
LandAndLandImprovements
|
1070000.00 | usd |
CY2023Q4 | us-gaap |
Land And Land Improvements
LandAndLandImprovements
|
1140000 | usd |
CY2024Q1 | us-gaap |
Present Value Of Future Insurance Profits Amortization Expense Remainder Of Fiscal Year
PresentValueOfFutureInsuranceProfitsAmortizationExpenseRemainderOfFiscalYear
|
85600 | usd |
CY2024Q1 | us-gaap |
Present Value Of Future Insurance Profits Amortization Expense Year One
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearOne
|
85600 | usd |
CY2024Q1 | us-gaap |
Present Value Of Future Insurance Profits Amortization Expense Year Two
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearTwo
|
85600 | usd |
CY2024Q1 | us-gaap |
Present Value Of Future Insurance Profits Amortization Expense Year Three
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearThree
|
85600 | usd |
CY2024Q1 | us-gaap |
Present Value Of Future Insurance Profits Amortization Expense Year Four
PresentValueOfFutureInsuranceProfitsAmortizationExpenseYearFour
|
85600 | usd |
CY2024Q1 | gtec |
Present Value Of Future Insurance Profits Amortization Expense Thereafter
PresentValueOfFutureInsuranceProfitsAmortizationExpenseThereafter
|
2941694 | usd |
CY2024Q1 | gtec |
Present Values Of Future Insurance Profits Amortization Expense
PresentValuesOfFutureInsuranceProfitsAmortizationExpense
|
3369694 | usd |
CY2024Q1 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
15395169 | usd |
CY2023Q4 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
9916308 | usd |
CY2024Q1 | gtec |
Deposit Term
DepositTerm
|
P3Y | |
CY2024Q1 | gtec |
Fixed Deposit Description
FixedDepositDescription
|
Fixed deposits will expire in 2026. | |
CY2024Q1 | us-gaap |
Notes Payable To Bank Current
NotesPayableToBankCurrent
|
33167150 | usd |
CY2023Q4 | us-gaap |
Notes Payable To Bank Current
NotesPayableToBankCurrent
|
36712562 | usd |
CY2024Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
33167150 | usd |
CY2023Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
36712562 | usd |
CY2024Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
3850000 | usd |
CY2023Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
5210000 | usd |
CY2024Q1 | us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
24960000 | usd |
CY2023 | us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
21850000 | usd |
CY2024Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
30845465 | usd |
CY2023Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
25272528 | usd |
CY2024Q1 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
8254505 | usd |
CY2023Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
3042296 | usd |
CY2024Q1 | gtec |
Other Long Term Liability Debt Of Subsidy
OtherLongTermLiabilityDebtOfSubsidy
|
1447490 | usd |
CY2023Q4 | gtec |
Other Long Term Liability Debt Of Subsidy
OtherLongTermLiabilityDebtOfSubsidy
|
1529831 | usd |
CY2024Q1 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
8254505 | usd |
CY2023Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
3042296 | usd |
CY2024Q1 | gtec |
Short Term Debt Term
ShortTermDebtTerm
|
P1Y | |
CY2024Q1 | us-gaap |
Derivative Average Fixed Interest Rate
DerivativeAverageFixedInterestRate
|
0.03122 | pure |
CY2023Q1 | us-gaap |
Derivative Average Fixed Interest Rate
DerivativeAverageFixedInterestRate
|
0.0388 | pure |
CY2024Q1 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
119999 | usd |
CY2023Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
807615 | usd |
CY2024Q1 | gtec |
Other Tax Payables
OtherTaxPayables
|
287844 | usd |
CY2023Q4 | gtec |
Other Tax Payables
OtherTaxPayables
|
507464 | usd |
CY2024Q1 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
100704 | usd |
CY2023Q4 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
115443 | usd |
CY2024Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1439149 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
660985 | usd |
CY2024Q1 | us-gaap |
Other Liabilities
OtherLiabilities
|
1947696 | usd |
CY2023Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
2091507 | usd |
CY2024Q1 | gtec |
Deferred Revenue Disclosure
DeferredRevenueDisclosure
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 15 – DEFERRED REVENUE</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred revenue is summarized as follow:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <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">March 31,<br/> 2024</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/> 2023</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%; padding-bottom: 1.5pt">Subsidy</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,447,490</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,529,831</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <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">1,447,490</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">1,529,831</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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsidy mainly consists of an incentive granted by the Chinese government to encourage transformation of fixed assets in China and other miscellaneous subsidy from the Chinese government. As of March 31, 2024, grant income decreased by $0.08 million, as compared to December 31, 2023. The change was mainly due to timing of incurring qualifying expenses.</span></p> | |
CY2024Q1 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
1447490 | usd |
CY2023 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
1529831 | usd |
CY2024Q1 | us-gaap |
Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
|
80000.00 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1996392 | usd |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
2125542 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
488568 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
487695 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1560279 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1684614 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2048847 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2172309 | usd |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y10M13D | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y1M2D | |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.046 | pure |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.045 | pure |
CY2024Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
158643 | usd |
CY2023Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
155791 | usd |
CY2024Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
158643 | usd |
CY2023Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
155791 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
579898 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
593454 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
610684 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
470644 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2254680 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
205833 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2048847 | usd |
CY2022Q3 | gtec |
Warrants Shares Issued
WarrantsSharesIssued
|
4530000 | shares |
CY2022Q3 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
4.49 | |
CY2023Q1 | gtec |
Warrant Expire Date
WarrantExpireDate
|
2028-01-26 | |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
4530000 | shares |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
4530000 | shares |
CY2024Q1 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
3049299 | usd |
CY2023Q4 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
4084605 | usd |
CY2023 | us-gaap |
Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
|
4084605 | usd |
CY2024Q1 | us-gaap |
Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
|
-1035306 | usd |
CY2024Q1 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
3049299 | usd |
CY2024Q1 | gtec |
Warrants Expire Year
WarrantsExpireYear
|
P5Y | |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.01 | |
CY2024Q1 | us-gaap |
Share Price
SharePrice
|
16.5 | |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
282000 | shares |
CY2021Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
120000 | shares |
CY2023Q1 | gtec |
Warrant Expire Date
WarrantExpireDate
|
2028-01-26 | |
CY2024Q1 | gtec |
Payment Of Cash
PaymentOfCash
|
100 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2502203 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1446975 | usd |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
13594530 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12978504 | shares |
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
13594530 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12978504 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.18 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.11 | |
CY2024Q1 | us-gaap |
Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
|
4530000 | shares |
CY2023Q1 | us-gaap |
Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
|
4530000 | shares |
CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | pure |
CY2024Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2024Q1 | 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 as of March 31, 2024:<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 March 31,</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">2025</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">579,898</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">593,454</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">610,684</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">2028</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">470,644</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="text-align: justify; padding-bottom: 4pt; padding-left: 9pt">Total lease payments</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">2,254,680</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> | |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
579898 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
|
593454 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
|
610684 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
|
470644 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2254680 | usd |
CY2024Q1 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
70000 | usd |
CY2024Q1 | gtec |
Preferred Shares Designated
PreferredSharesDesignated
|
shares | |
CY2023 | gtec |
Preferred Shares Designated
PreferredSharesDesignated
|
shares | |
CY2024Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
shares | |
CY2023Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
shares | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.11 | |
CY2024Q1 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
7600000 | usd |
CY2019Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
1340000 | usd |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
usd | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.11 | |
CY2023Q1 | gtec |
Amortization Of Deffered Subsidy
AmortizationOfDefferedSubsidy
|
usd | |
CY2023Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2023Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
usd | |
CY2023Q1 | gtec |
Accrued Interest Income Derived From Loan To Rp
AccruedInterestIncomeDerivedFromLoanToRP
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
usd | |
CY2024Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
usd | |
CY2024Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
usd | |
CY2024Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
usd | |
CY2023Q1 | gtec |
Repayment Of Loans Lend To Third Parties
RepaymentOfLoansLendToThirdParties
|
usd | |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.18 | |
CY2024Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
usd | |
CY2024Q1 | us-gaap |
Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
|
usd | |
CY2024Q1 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
usd | |
CY2024Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
usd | |
CY2023Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | |
CY2024Q1 | us-gaap |
Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
|
usd | |
CY2023 | us-gaap |
Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
|
cny | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001735041 |