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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenue        
Sales of systems $ 13,623,004 $ 0 $ 27,702,800 $ 0
Contingent rental income 289,559 403,420 550,334 550,973
Total revenue 13,912,563 403,420 28,253,134 550,973
Cost of sales        
Cost of systems 10,501,936 28,568 21,402,848 42,951
Total cost of sales 10,501,936 28,568 21,402,848 42,951
Gross profit 3,410,627 374,852 6,850,286 508,022
Interest income on sales-type leases 4,728,706 4,713,727 8,553,546 9,527,977
Total operating income 8,139,333 5,088,579 15,403,832 10,035,999
Operating expenses        
General and administrative 684,114 809,140 1,766,560 1,588,695
Income from operations 7,455,219 4,279,439 13,637,272 8,447,304
Non-operating income (expenses)        
Interest income 60,644 45,405 153,232 72,311
Interest expense (1,293,193) (2,514,313) (2,787,689) (5,115,547)
Changes in fair value of conversion feature liability 0 0   1,127,400
Other income (expenses) 3,853 (1,716) 2,873 (93,762)
Total non-operating expenses, net (1,228,696) (2,470,624) (2,631,584) (4,009,598)
Income before income tax 6,226,523 1,808,815 11,005,688 4,437,706
Income tax expense 2,366,816 454,689 3,726,870 942,081
Income before noncontrolling interest 3,859,707 1,354,126 7,278,818 3,495,625
Less: Income attributable to noncontrolling interest 126,363 130,004 247,284 248,938
Net income attributable to China Recycling Energy Corp 3,733,344 1,224,122 7,031,534 3,246,687
Other comprehensive items        
Foreign currency translation gain (loss) attributable to China Recycling Energy Corp 2,035,201 (585,612) 2,360,535 (462,726)
Foreign currency translation gain (loss) attributable to noncontrolling interest 66,379 (22,975) 78,153 (17,956)
Comprehensive income attributable to China Recycling Energy Corp 5,768,545 638,510 9,392,069 2,783,961
Comprehensive income attributable to noncontrolling interest $ 192,742 $ 107,029 $ 325,437 $ 230,982
Basic weighted average shares outstanding 50,224,350 46,474,350 50,224,350 46,474,350
Diluted weighted average shares outstanding * 50,770,461 [1] 51,379,091 [1] 50,857,523 [1] 51,285,245 [1]
Basic earnings per share $ 0.07 $ 0.03 $ 0.14 $ 0.07
Diluted earnings per share * $ 0.07 [1] $ 0.03 [1] $ 0.14 [1] $ 0.07 [1]
[1] Interest expense accrued on convertible notes is added back to net income for the computation of diluted EPS.