Greenland Technologies Holding Corp.GTEC
| Nov 30,
2018 | Dec 31,
2019 | Dec 31,
2020 | Dec 31,
2021 | Dec 31,
2022 |
|---|
| NET INCOME | - | 4 | 6 | 7 | 7 |
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| Depreciation and amortization | - | 2 | 2 | 3 | 2 |
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| Loss on disposal of property and equipment | - | - | - | -1,785 | 1,511 |
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| Increase in allowance for doubtful accounts | - | - | - | 149,172 | 32,316 |
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| Increase in provision for inventory | - | - | 136,166 | -23,536 | -359,534 |
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| Deferred tax assets | - | - | - | 20,398 | -90,259 |
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| Accounts receivable | - | 2 | -486,793 | 3 | -406,963 |
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| Notes receivable | - | 79,654 | 13 | 6 | -6,074,159 |
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| Inventories | - | -2,230,666 | 4 | 10 | -400,982 |
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| Advance to suppliers | - | - | - | 23,463 | -11,187 |
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| Other current and noncurrent assets | - | - | - | -1,424,031 | -7,795,981 |
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| Accounts payable | - | -16,118 | 6 | 6 | -2,080,206 |
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| Customer deposits | - | - | - | 12,994 | -133,803 |
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| Other current liabilities | - | -1,645,646 | 317,459 | -867,079 | 2 |
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| Income tax payables | - | -141,965 | -12,681 | 106,887 | 94,634 |
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| Due to related parties | - | 2 | 5 | -405,732 | 183,066 |
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| Long-term payables - unamortized deferred financing costs | - | - | - | -3,945 | -186,800 |
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| Other long-term liabilities | - | - | -241,695 | -392,029 | -1,045,677 |
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| NET CASH PROVIDED BY OPERATING ACTIVITIES | -426,265 | 8 | 3 | -5,755,940 | 7 |
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| Purchases of Long-term assets | - | 131,432 | 1 | 894,385 | 525,128 |
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| Proceeds from government grants for construction | - | -633,887 | -253,329 | -255,405 | -808,821 |
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| Proceeds from sale of property, plant and equipment | - | 90,704 | 7,544 | 3,570 | - |
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| Investment in a joint venture | - | - | - | - | 250,000 |
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| NET CASH USED BY INVESTING ACTIVITES | -44,000,000 | -1,600,288 | -822,769 | -638,980 | 33,693 |
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| Proceeds from short-term bank loans | - | 39 | 21 | 9 | 12 |
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| Repayments of short-term bank loans | - | - | - | 19 | 11 |
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| Notes payable | - | - | 9 | 15 | -10,847,677 |
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| Proceeds from related parties | - | - | 2 | 419,311 | 281,406 |
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| Repayment of loans from related parties | - | - | - | -4,045,048 | -2,159,416 |
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| Repayment of loans from third parties | - | 3 | 6 | 310,443 | 1 |
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| Payment of principal on financing lease obligation | - | 575,310 | 2 | 776,108 | 185,136 |
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| Proceeds from equity and debt financing | - | - | - | 8 | 9 |
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| Proceeds from NCI's Investment | - | - | - | 5 | - |
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| NET CASH PROVIDED/(USED) IN FINANCING ACTIVITES | 45 | -9,644,359 | 2 | 14 | -4,284,479 |
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| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | - | - | - | 8 | 3 |
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| Effect of exchange rate changes on cash | - | - | - | 329,778 | -1,134,295 |
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| Income taxes paid | - | 791,760 | 3 | 2 | 695,315 |
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| Interest paid | - | 2 | 1 | 637,967 | 405,174 |
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| Bank balances and cash | - | - | 7 | 11 | 16 |
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| Bank balances and cash included in assets classified as restricted cash | - | - | 2 | 7 | 3 |
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