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Consolidated Statements of Income and Comprehensive Income (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue        
Sales of systems   $ 72,544   $ 11,343,798
Contingent rental income 403,420 293,128 550,973 585,023
Total revenue 403,420 365,672 550,973 11,928,821
Cost of sales        
Cost of systems 28,568 68,640 42,951 8,524,672
Total cost of sales 28,568 68,640 42,951 8,524,672
Gross profit 374,852 297,032 508,022 3,404,149
Interest income on sales-type leases 4,713,727 5,488,501 9,527,977 10,626,804
Total operating income 5,088,579 5,785,533 10,035,999 14,030,953
Operating expenses        
General and administrative 809,140 1,678,768 1,588,695 3,446,457
Income from operations 4,279,439 4,106,765 8,447,304 10,584,496
Non-operating income (expenses)        
Interest income 45,405 23,862 72,311 58,643
Interest expense (2,514,313) (3,085,498) (5,115,547) (5,611,459)
Changes in fair value of conversion feature liability   3,599,312 1,127,400 6,132,906
Other expenses (1,716) (1,579) (93,762) (43,689)
Total non-operating income (expenses), net (2,470,624) 536,097 (4,009,598) 536,401
Income before income tax 1,808,815 4,642,862 4,437,706 11,120,897
Income tax expense 454,689 783,701 942,081 2,179,631
Income before noncontrolling interest 1,354,126 3,859,161 3,495,625 8,941,266
Less: Income attributable to noncontrolling interest 130,004 164,160 248,938 683,298
Net income attributable to China Recycling Energy Corp 1,224,122 3,695,001 3,246,687 8,257,968
Other comprehensive items        
Foreign currency translation gain (loss) attributable to China Recycling Energy Corp (585,612) 1,369,164 (462,726) 2,351,036
Foreign currency translation gain (loss) attributable to noncontrolling interest (22,975) 50,281 (17,956) 86,833
Comprehensive income attributable to China Recycling Energy Corp 638,510 5,064,165 2,783,961 10,609,004
Comprehensive income attributable to noncontrolling interest $ 107,029 $ 214,441 $ 230,982 $ 770,131
Basic weighted average shares outstanding 46,474,350 42,199,576 46,474,350 40,707,568
Diluted weighted average shares outstanding 51,379,091 55,447,423 51,285,245 55,084,616
Basic earnings per share $ 0.03 $ 0.09 $ 0.07 $ 0.20
Diluted earnings per share $ 0.03 $ 0.07 $ 0.07 $ 0.16