$TRSG
Tungray Technologies Inc

2023 Q4 Form 20-F Financial Statement

#000157587224000407 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $14.36M $14.36M $16.33M
YoY Change -12.07% -12.07%
Cost Of Revenue $7.626M $7.626M $7.138M
YoY Change 6.85% 6.85%
Gross Profit $6.736M $6.736M $9.197M
YoY Change -26.76% -26.76%
Gross Profit Margin 46.9% 46.9% 56.3%
Selling, General & Admin $4.819M $4.819M $5.155M
YoY Change -6.51% -6.51%
% of Gross Profit 71.55% 71.55% 56.05%
Research & Development $791.8K $791.8K $829.2K
YoY Change -4.52% -4.52%
% of Gross Profit 11.75% 11.75% 9.02%
Depreciation & Amortization $122.0K $218.1K $238.4K
YoY Change -48.84% 69.74%
% of Gross Profit 1.81% 3.24% 2.59%
Operating Expenses $5.611M $5.611M $5.984M
YoY Change -6.23% -6.23%
Operating Profit $1.125M $1.125M $3.213M
YoY Change -64.99% -64.99%
Interest Expense -$160.7K -$160.7K -$35.70K
YoY Change 350.25% 350.25%
% of Operating Profit -14.29% -14.29% -1.11%
Other Income/Expense, Net $355.7K $195.0K $222.4K
YoY Change 59.92% 4.42%
Pretax Income $1.320M $1.320M $3.399M
YoY Change -61.18% -61.18%
Income Tax $504.2K $504.2K $517.3K
% Of Pretax Income 38.2% 38.2% 15.22%
Net Earnings $915.4K $915.4K $2.892M
YoY Change -68.35% -68.35%
Net Earnings / Revenue 6.37% 6.37% 17.71%
Basic Earnings Per Share $0.06
Diluted Earnings Per Share $0.06 $0.06 $0.18
COMMON SHARES
Basic Shares Outstanding 15.00M
Diluted Shares Outstanding 15.00M

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.80M $10.80M $13.13M
YoY Change -17.73% -17.73%
Cash & Equivalents $10.80M $10.80M $13.13M
Short-Term Investments
Other Short-Term Assets $0.00 $1.325M $34.43K
YoY Change -100.0% 109.46%
Inventory $2.284M $2.284M $1.405M
Prepaid Expenses $260.0K $539.4K
Receivables $319.6K $3.575M $104.7K
Other Receivables $23.82K $543.0K $23.83K
Total Short-Term Assets $18.53M $18.53M $17.86M
YoY Change 3.75% 3.75%
LONG-TERM ASSETS
Property, Plant & Equipment $6.145M $6.857M $6.238M
YoY Change -1.48% -0.79%
Goodwill
YoY Change
Intangibles $55.84K $33.94K
YoY Change 64.51%
Long-Term Investments $211.3K $211.3K $217.5K
YoY Change -2.86% -2.86%
Other Assets $1.216M $1.216M $797.4K
YoY Change 52.48% 52.48%
Total Long-Term Assets $8.340M $8.340M $7.961M
YoY Change 4.77% 4.77%
TOTAL ASSETS
Total Short-Term Assets $18.53M $18.53M $17.86M
Total Long-Term Assets $8.340M $8.340M $7.961M
Total Assets $26.87M $26.87M $25.82M
YoY Change 4.06% 4.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.048M $1.547M $1.101M
YoY Change -4.76% 27.76%
Accrued Expenses $1.290M $1.198M $993.0K
YoY Change 29.9% 29.12%
Deferred Revenue $4.011M $1.848M
YoY Change 117.02%
Short-Term Debt $0.00 $0.00 $453.8K
YoY Change -100.0% -100.0%
Long-Term Debt Due $140.2K $140.2K $379.7K
YoY Change -63.09% -63.09%
Total Short-Term Liabilities $8.348M $8.348M $7.684M
YoY Change 8.64% 8.64%
LONG-TERM LIABILITIES
Long-Term Debt $1.951M $1.951M $2.373M
YoY Change -17.77% -17.77%
Other Long-Term Liabilities $2.301M $350.1K $2.863M
YoY Change -19.62% -28.56%
Total Long-Term Liabilities $2.301M $2.301M $2.863M
YoY Change -19.62% -19.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.348M $8.348M $7.684M
Total Long-Term Liabilities $2.301M $2.301M $2.863M
Total Liabilities $10.65M $10.53M $10.55M
YoY Change 0.97% 0.02%
SHAREHOLDERS EQUITY
Retained Earnings $15.96M $15.06M
YoY Change 6.02%
Common Stock $332.6K $332.6K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.33M $16.33M $15.29M
YoY Change
Total Liabilities & Shareholders Equity $26.87M $26.87M $25.82M
YoY Change 4.06% 4.06%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income $915.4K $915.4K $2.892M
YoY Change -68.35% -68.35%
Depreciation, Depletion And Amortization $122.0K $218.1K $238.4K
YoY Change -48.84% 69.74%
Cash From Operating Activities $648.2K $451.0K $3.638M
YoY Change -82.18% -87.6%
INVESTING ACTIVITIES
Capital Expenditures $20.02K $43.25K $145.7K
YoY Change -86.26% -70.31%
Acquisitions
YoY Change
Other Investing Activities $200.0K -$500.00 $3.854M
YoY Change -94.81% -100.01%
Cash From Investing Activities $180.0K -$81.75K $3.708M
YoY Change -95.15% -21.49%
FINANCING ACTIVITIES
Cash Dividend Paid $1.276M
YoY Change -22.88%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.001M -2.805M -5.210M
YoY Change -61.59% 100.77%
NET CHANGE
Cash From Operating Activities 648.2K 451.0K 3.638M
Cash From Investing Activities 180.0K -81.75K 3.708M
Cash From Financing Activities -2.001M -2.805M -5.210M
Net Change In Cash -1.173M -2.328M 2.137M
YoY Change -154.88% -229.78%
FREE CASH FLOW
Cash From Operating Activities $648.2K $451.0K $3.638M
Capital Expenditures $20.02K $43.25K $145.7K
Free Cash Flow $628.1K $407.8K $3.492M
YoY Change -82.01% -88.32%

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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8264157
CY2021 tti Loans Receivable Related Parties
LoansReceivableRelatedParties
22614
CY2021 us-gaap Profit Loss
ProfitLoss
4108445
CY2021 tti Foreign Currency Translation Adjustment
ForeignCurrencyTranslationAdjustment
195067
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12590283
CY2022 tti Repayment From Receivable From Related Parties
RepaymentFromReceivableFromRelatedParties
3812241
CY2022 tti Dividends Declared To Offset With Loans Receivable Related Parties
DividendsDeclaredToOffsetWithLoansReceivableRelatedParties
951209
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
4470111
CY2022 us-gaap Profit Loss
ProfitLoss
2882147
CY2022 tti Foreign Currency Translation Adjustment
ForeignCurrencyTranslationAdjustment
-492411
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15273358
CY2023 us-gaap Profit Loss
ProfitLoss
815647
CY2023 tti Foreign Currency Translation Adjustment
ForeignCurrencyTranslationAdjustment
130863
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16219868
CY2023 us-gaap Profit Loss
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815647
CY2022 us-gaap Profit Loss
ProfitLoss
2882147
CY2021 us-gaap Profit Loss
ProfitLoss
4108445
CY2023 us-gaap Depreciation
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218148
CY2022 us-gaap Depreciation
Depreciation
128517
CY2021 us-gaap Depreciation
Depreciation
207760
CY2023 tti Amortization Expense
AmortizationExpense
15118
CY2022 tti Amortization Expense
AmortizationExpense
12086
CY2021 tti Amortization Expense
AmortizationExpense
15706
CY2023 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
190983
CY2022 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
22837
CY2021 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
128554
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
6713
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
42544
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
95136
CY2023 us-gaap Deferred Income Tax Expense Benefit
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74616
CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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154455
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
120053
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
119242
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
97801
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
210303
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
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-3310
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1371684
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2023 us-gaap Increase Decrease In Accounts Receivable Related Parties
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218421
CY2022 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
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CY2021 us-gaap Increase Decrease In Accounts Receivable Related Parties
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134833
CY2023 us-gaap Increase Decrease In Prepaid Expense
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-275082
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-221842
CY2021 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-4628
CY2023 tti Increase Decrease In Prepaid Expense Related Parties
IncreaseDecreaseInPrepaidExpenseRelatedParties
1004692
CY2022 tti Increase Decrease In Prepaid Expense Related Parties
IncreaseDecreaseInPrepaidExpenseRelatedParties
3117
CY2021 tti Increase Decrease In Prepaid Expense Related Parties
IncreaseDecreaseInPrepaidExpenseRelatedParties
44822
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
909054
CY2022 us-gaap Increase Decrease In Inventories
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CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
513851
CY2023 tti Increase Decrease In Other Receivable And Other Current Assets
IncreaseDecreaseInOtherReceivableAndOtherCurrentAssets
52168
CY2022 tti Increase Decrease In Other Receivable And Other Current Assets
IncreaseDecreaseInOtherReceivableAndOtherCurrentAssets
-275108
CY2021 tti Increase Decrease In Other Receivable And Other Current Assets
IncreaseDecreaseInOtherReceivableAndOtherCurrentAssets
250722
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1107
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
23274
CY2022 tti Increase Decrease In Operating Lease Receivable Related Party
IncreaseDecreaseInOperatingLeaseReceivableRelatedParty
-104540
CY2021 tti Increase Decrease In Operating Lease Receivable Related Party
IncreaseDecreaseInOperatingLeaseReceivableRelatedParty
27262
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-25698
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-386154
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
554798
CY2023 tti Increase Decrease In Accounts Payable Related Party
IncreaseDecreaseInAccountsPayableRelatedParty
392777
CY2022 tti Increase Decrease In Accounts Payable Related Party
IncreaseDecreaseInAccountsPayableRelatedParty
57673
CY2021 tti Increase Decrease In Accounts Payable Related Party
IncreaseDecreaseInAccountsPayableRelatedParty
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CY2023 tti Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
2146876
CY2022 tti Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
-702924
CY2021 tti Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
1608032
CY2023 tti Increase Decrease In Accrued Expenses And Other Payables
IncreaseDecreaseInAccruedExpensesAndOtherPayables
307405
CY2022 tti Increase Decrease In Accrued Expenses And Other Payables
IncreaseDecreaseInAccruedExpensesAndOtherPayables
-226528
CY2021 tti Increase Decrease In Accrued Expenses And Other Payables
IncreaseDecreaseInAccruedExpensesAndOtherPayables
518108
CY2023 tti Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-34652
CY2023 tti Increase Decrease In Operating Lease Liabilities Related Parties
IncreaseDecreaseInOperatingLeaseLiabilitiesRelatedParties
-204940
CY2022 tti Increase Decrease In Operating Lease Liabilities Related Parties
IncreaseDecreaseInOperatingLeaseLiabilitiesRelatedParties
-155005
CY2021 tti Increase Decrease In Operating Lease Liabilities Related Parties
IncreaseDecreaseInOperatingLeaseLiabilitiesRelatedParties
-95283
CY2023 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-324383
CY2022 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
169447
CY2021 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
531878
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
451021
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3638067
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43254
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
145699
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
206345
CY2022 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
222916
CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
37993
CY2023 us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
677765
CY2022 us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
1655820
CY2021 us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
1146420
CY2023 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
677267
CY2022 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
1920315
CY2021 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-81745
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-104120
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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CY2022 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
250166
CY2021 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1511509
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1956190
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
397350
CY2022 tti Repayments From Loans Receivable Related Parties
RepaymentsFromLoansReceivableRelatedParties
3812241
CY2023 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
282450
CY2022 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
762372
CY2021 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
601476
CY2023 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
1218164
CY2022 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
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CY2021 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
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CY2021 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
427854
CY2023 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
194226
CY2022 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
195317
CY2022 us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
435193
CY2022 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
36097
CY2021 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
274668
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
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CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
1654389
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
474972
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2805308
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1397286
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13421
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
108141
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-342913
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
280880
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2327891
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1793748
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5240190
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13130296
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11336548
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6096358
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10802405
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13130296
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11336548
CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
391309
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
119662
CY2023 tti Other Receivables Related Party Offset With Other Payables
OtherReceivablesRelatedPartyOffsetWithOtherPayables
381710
CY2021 tti Other Receivables Related Party Offset With Other Payables
OtherReceivablesRelatedPartyOffsetWithOtherPayables
2362044
CY2022 tti Dividends Declared To Offset With Loans Receivable
DividendsDeclaredToOffsetWithLoansReceivable
951209
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none; line-height: 12pt;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;display:inline;"><div style="text-decoration:underline;display:inline;">Use of estimates</div></div><div style="white-space:pre-line; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px; line-height: 12pt;display:inline;"> </div><br/></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none; line-height: 12pt;"><div style="white-space: pre-wrap; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px; line-height: 12pt;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none; line-height: 12pt;"><div style="white-space:pre-line; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;display:inline;">The preparation of 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 the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period covered by the financial statements and accompanying notes. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. Significant accounting estimates reflected in the Company’s consolidated financial statements include, but not limited to, allowance for credit losses, estimated useful lives and impairment of property and equipment, valuation of deferred tax assets, and other provisions and contingencies. As future events and their effects cannot be determined with precision, actual results could differ from those estimates. </div><div style="white-space:pre-line; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px; line-height: 12pt;display:inline;"> </div></div>
CY2023Q4 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
AccountsAndFinancingReceivableAllowanceForCreditLoss
472293
CY2022Q4 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
AccountsAndFinancingReceivableAllowanceForCreditLoss
303311
CY2023 tti Provision For Credit Losses Of Accounts And Notes Receivable
ProvisionForCreditLossesOfAccountsAndNotesReceivable
178118
CY2022 tti Provision For Credit Losses Of Accounts And Notes Receivable
ProvisionForCreditLossesOfAccountsAndNotesReceivable
16394
CY2021 tti Provision For Credit Losses Of Accounts And Notes Receivable
ProvisionForCreditLossesOfAccountsAndNotesReceivable
114227
CY2023Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
252947
CY2022Q4 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
239594
CY2023 tti Other Receivable And Other Current Assets Credit Loss Expense Reversal
OtherReceivableAndOtherCurrentAssetsCreditLossExpenseReversal
20247
CY2022 tti Other Receivable And Other Current Assets Credit Loss Expense Reversal
OtherReceivableAndOtherCurrentAssetsCreditLossExpenseReversal
-5268
CY2021 tti Other Receivable And Other Current Assets Credit Loss Expense Reversal
OtherReceivableAndOtherCurrentAssetsCreditLossExpenseReversal
11488
CY2023Q4 tti Allowance For Prepayments
AllowanceForPrepayments
22308
CY2022Q4 tti Allowance For Prepayments
AllowanceForPrepayments
30543
CY2023 tti Provision For Doubtful Accounts Of Prepayments
ProvisionForDoubtfulAccountsOfPrepayments
-7382
CY2022 tti Provision For Doubtful Accounts Of Prepayments
ProvisionForDoubtfulAccountsOfPrepayments
11710
CY2021 tti Provision For Doubtful Accounts Of Prepayments
ProvisionForDoubtfulAccountsOfPrepayments
2839
CY2023 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2022 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2021 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023 us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
The payment terms usually include, but are not limited to, the following billing stages: 1) signing of the sales contract, approximately between 20% - 40% of the contract price, 2) before delivery 30% - 40%, 3) completion of the delivery or instalment, approximately between 10% - 30% of the contract price, and 4) completion of a warranty period, approximately within 10% of the contract price. The completion of a warranty period is only passage of time and would not make the Company probable to not able to bill the remaining approximately 10% of the contract price.
CY2023 us-gaap Revenues
Revenues
14362502
CY2022 us-gaap Revenues
Revenues
16334400
CY2021 us-gaap Revenues
Revenues
17468116
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1753808
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1629501
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
931131
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
257024
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
233008
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
249284
CY2023 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded
CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2023 tti Statutory Reserve Description
StatutoryReserveDescription
Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”) at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end).
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
3960409
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2423055
CY2023Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
86623
CY2022Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
300406
CY2023Q4 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
AccountsAndFinancingReceivableAllowanceForCreditLoss
472293
CY2022Q4 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
AccountsAndFinancingReceivableAllowanceForCreditLoss
303311
CY2023Q4 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
3574739
CY2022Q4 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
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CY2022Q4 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
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rc053_ex12-2.htm Edgar Link pending
rc053_ex13-1.htm Edgar Link pending
rc053_ex2-3.htm Edgar Link pending
rc053_ex8-1.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tti-20231231.htm Edgar Link pending
tti-20231231.xsd Edgar Link pending
tti-20231231_def.xml Edgar Link unprocessable
tti-20231231_lab.xml Edgar Link unprocessable
tti-20231231_pre.xml Edgar Link unprocessable
tti-20231231_htm.xml Edgar Link completed
tti-20231231_cal.xml Edgar Link unprocessable