XML 76 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Revenue    
Sales of systems $ 18,868,632us-gaap_SalesRevenueNet $ 62,013,135us-gaap_SalesRevenueNet
Contingent rental income 790,437us-gaap_OperatingLeasesIncomeStatementContingentRevenue 1,180,055us-gaap_OperatingLeasesIncomeStatementContingentRevenue
Total revenue 19,659,069us-gaap_Revenues 63,193,190us-gaap_Revenues
Cost of sales    
Cost of contingent rental income and systems 14,585,462us-gaap_CostOfGoodsAndServicesSold 47,847,313us-gaap_CostOfGoodsAndServicesSold
Total cost of sales 14,585,462us-gaap_CostOfRevenue 47,847,313us-gaap_CostOfRevenue
Gross profit 5,073,607us-gaap_GrossProfit 15,345,877us-gaap_GrossProfit
Interest income on sales-type leases 26,458,713us-gaap_InterestAndFeeIncomeLoansAndLeases 19,344,855us-gaap_InterestAndFeeIncomeLoansAndLeases
Total operating income 31,532,320creg_Totaloperatingincomeloss 34,690,732creg_Totaloperatingincomeloss
Operating expenses    
General and administrative 3,494,711us-gaap_GeneralAndAdministrativeExpense 4,160,742us-gaap_GeneralAndAdministrativeExpense
Total operating expenses 3,494,711us-gaap_OperatingExpenses 4,160,742us-gaap_OperatingExpenses
Income from operations 28,037,609us-gaap_OperatingIncomeLoss 30,529,990us-gaap_OperatingIncomeLoss
Non-operating income (expenses)    
Interest income 192,812us-gaap_InvestmentIncomeInterest 226,772us-gaap_InvestmentIncomeInterest
Interest expense (3,431,241)us-gaap_InterestExpense (6,718,729)us-gaap_InterestExpense
Investment income 20,739us-gaap_InvestmentIncomeNet 0us-gaap_InvestmentIncomeNet
Other income (expenses) 1,016,540us-gaap_OtherNonoperatingIncomeExpense (1,335,626)us-gaap_OtherNonoperatingIncomeExpense
Total non-operating expenses, net (2,201,150)us-gaap_NonoperatingIncomeExpense (7,827,583)us-gaap_NonoperatingIncomeExpense
Income before income tax 25,836,459us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 22,702,407us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense 6,111,267us-gaap_IncomeTaxExpenseBenefit 6,886,601us-gaap_IncomeTaxExpenseBenefit
Income before noncontrolling interest 19,725,192us-gaap_ProfitLoss 15,815,806us-gaap_ProfitLoss
Less: income (loss) attributable to noncontrolling interest (86,730)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 186,270us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to China Recycling Energy Corp 19,811,922us-gaap_NetIncomeLoss 15,629,536us-gaap_NetIncomeLoss
Other comprehensive items    
Foreign currency translation gain (loss) attributable to China Recycling Energy Corp (222,265)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent 4,655,178us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
Foreign currency translation gain (loss) attributable to noncontrolling interest (1,588)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest 3,592us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
Comprehensive income attributable to China Recycling Energy Corp 19,589,657us-gaap_ComprehensiveIncomeNetOfTax 20,284,714us-gaap_ComprehensiveIncomeNetOfTax
Comprehensive income (loss) attributable to noncontrolling interest $ (88,318)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $ 189,862us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
Basic weighted average shares outstanding (in shares) 69,627,116us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 53,850,289us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted weighted average shares outstanding (in shares) 69,627,116us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 54,383,418us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Basic earnings per share (in dollars per share) $ 0.28us-gaap_EarningsPerShareBasic $ 0.29us-gaap_EarningsPerShareBasic
Diluted earnings per share (in dollars per share) $ 0.28us-gaap_EarningsPerShareDiluted $ 0.29us-gaap_EarningsPerShareDiluted