Greenland Technologies Holding Corp
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 16, 2024
GTEC$0.53+8.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
AS OF DECEMBER 31, 2023 AND 2022
| December 31, | December 31, | |
|---|---|---|
| 2023 | 2022 | |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $22,981,324 | $16,295,695 |
| Restricted cash | 5,208,063 | 3,433,361 |
| Short Term Investment | 2,818,068 | 7,800,723 |
| Notes receivable, net | 27,135,249 | 28,748,879 |
| Accounts receivable, net | 16,483,533 | 14,337,760 |
| Inventories, net | 24,596,795 | 23,096,382 |
| Due from related parties-current, net | 225,927 | 30,214,245 |
| Advance to suppliers | 288,578 | 412,766 |
| Prepayments and other current assets | 53,204 | 1,568,687 |
| Total Current Assets | $99,790,741 | $125,908,498 |
| Non-current asset | ||
| Property, plant, equipment and construction in progress, net | 13,698,997 | 15,585,214 |
| Land use rights, net | 3,448,505 | 3,639,067 |
| Other intangible assets | 189,620 | 147,465 |
| Long term investment | - | 250,000 |
| Due from related parties-non current, net | - | 6,455,662 |
| Deferred tax assets | 256,556 | 219,207 |
| Operating lease right-of-use assets | 2,125,542 | 2,627,110 |
| Fixed deposit | 9,916,308 | - |
| Other non-current assets | 1,050,698 | 283,118 |
| Total non-current assets | $30,686,226 | $29,206,843 |
| TOTAL ASSETS | $130,476,967 | $155,115,341 |
AS OF DECEMBER 31, 2023 AND 2022 (Continued)
| December 31, | December 31, | |
|---|---|---|
| 2023 | 2022 | |
| Current Liabilities | ||
| Short-term bank loans | $3,042,296 | $8,986,255 |
| Notes payable-bank acceptance notes | 36,712,562 | 28,272,472 |
| Accounts payable | 25,272,528 | 24,817,165 |
| Taxes payables | 758,307 | 192,478 |
| Customer deposits | 137,985 | 227,432 |
| Due to related parties | 4,021,636 | 1,693,315 |
| Other current liabilities | 2,091,507 | 1,547,390 |
| Current portion of operating lease liabilities | 487,695 | 472,182 |
| Total current liabilities | $72,524,516 | $66,208,689 |
| Long-term liabilities | ||
| Long term operating lease liabilities | 1,684,614 | 2,176,130 |
| Other long-term liabilities | 1,529,831 | 1,812,759 |
| Warrant liability | 4,084,605 | 5,483,379 |
| Total long-term liabilities | $7,299,050 | $9,472,268 |
| TOTAL LIABILITIES | $79,823,566 | $75,680,957 |
| COMMITMENTS AND CONTINGENCIES | - | - |
| Shareholders’ equity | ||
| Ordinary shares, no par value, unlimited shares authorized; 13,594,530 and 12,978,504 shares issued and outstanding as of December 31, 2023 and December 31, 2022. | - | - |
| Additional paid-in capital | 30,286,560 | 30,286,560 |
| Statutory reserves | 3,842,331 | 3,842,331 |
| Retained earnings | 18,535,133 | 34,414,249 |
| Accumulated other comprehensive income (loss) | (2,583,794) | (2,831,419) |
| Total shareholders’ equity | $50,080,230 | $65,711,721 |
| Non-controlling interest | 573,171 | 13,722,663 |
| TOTAL EQUITY | $50,653,401 | $79,434,384 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $130,476,967 | $155,115,341 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.