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LEASE LIABILITIES-FINANCE AND OPERATING LEASE | 3 Months Ended
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Mar. 31, 2023
Lease Liabilities-finance And Operating Lease |
LEASE LIABILITIES-FINANCE AND OPERATING LEASE | NOTE 11 – LEASE LIABILITIES-FINANCE AND OPERATING LEASE The components of finance lease liabilities were as follows: Lease Liabilities - Finance and Operating Lease - Schedule of Finance Leased Liabilities
|  | Imputed |  | March 31, |  | December 31,
|  | Interest rate |  | 2023 |  | 2022
Total finance lease liability |  | 6.7% |  | $ | 1,726,156 |  |  | $ | 1,675,067 |
Less: Current portion |  |  |  |  | (244,685 | ) |  |  | (213,346 | )
Finance lease liability, net of current portion |  |  |  | $ | 1,481,471 |  |  | $ | 1,461,721 |
Interest expenses from a finance lease liability amounted to $28,560 and $33,622 for the three-month periods ended March 31, 2023 and 2022, respectively, were charged to the condensed consolidated statement of loss. The components of operating lease liabilities as follows: Lease Liabilities - Finance and Operating Lease - Schedule of Operating Leased Liabilities
|  | Imputed |  | March 31, |  | December 31,
|  | Interest rate |  | 2023 |  | 2022
Total Operating lease liabilities |  | 4.89% |  | $ | 8,462,654 |  |  | $ | 8,009,091 |
Less: Current portion |  |  |  |  | (468,906 | ) |  |  | (433,440 | )
Operating lease liabilities, net of current portion |  |  |  | $ | 7,993,748 |  |  | $ | 7,575,651 |
The weighted average remaining operating lease term at March 31, 2023 was 19 years and the weighted average discounts rate was 4.89%. This discount rates used are based on the base rate quoted by the People's Bank of China and vary with the remaining term of the lease. Lease payment in the three-months ended March 31, 2023 and 2022 was $239,898 and $257,879. Maturities of lease liabilities were as follows: Lease Liabilities - Finance and Operating Lease - Schedule of Financing and Operating Lease Maturities
|  | Financial lease |  | Operating Lease
Payable within: |  |  |  |  |  |  |  |
the next 12 months |  | $ | 273,141 |  |  | $ | 847,895 |
the next 13 to 24 months |  |  | 273,141 |  |  |  | 853,614 |
the next 25 to 36 months |  |  | 273,141 |  |  |  | 859,366 |
the next 37 to 48 months |  |  | 273,141 |  |  |  | 865,489 |
the next 49 to 60 months |  |  | 273,141 |  |  |  | 871,652 |
thereafter |  |  | 819,423 |  |  |  | 10,186,057 |
Total |  |  | 2,185,128 |  |  |  | 14,484,073 |
Less: Amount representing interest |  |  | (458,972 | ) |  |  | (6,021,419 | )
Present value of net minimum lease payments |  |  | 1,726,156 |  |  | $ | 8,462,654 |

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- References No definition available. + Details
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- Definition The entire disclosure for finance and operating leases of lessee. Includes, but is not limited to, description of finance and operating leases and maturity analysis of finance and operating lease liabilities. + References No definition available. + Details
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Namespace Prefix: | gure_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration