2024 Q2 Form 10-Q Financial Statement

#000121390024043583 Filed on May 15, 2024

View on sec.gov

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%

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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

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