XML 16 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenue    
Sales of systems
Contingent rental income $ 6,761 $ 174,338
Total revenue 6,761 174,338
Cost of sales    
Cost of systems and contingent rental income 6,458 12,280
Total cost of sales 6,458 12,280
Gross profit 303 162,058
Interest income on sales-type leases 4,881,530 6,492,282
Total operating income 4,881,833 6,654,340
Operating expenses    
General and administrative 491,082 704,561
Total operating expenses 491,082 704,561
Income from operations 4,390,751 5,949,779
Non-operating income (expenses)    
Interest income 31,688 32,287
Interest expense (1,349,570) $ (493,705)
Loss on sale of construction in progress of Xuzhou Zhongtai (2,823,328)
Other income (expense) 2,976 $ (362,949)
Total non-operating expenses, net (4,138,234) (824,367)
Income before income tax 252,517 5,125,412
Income tax expense 210,771 997,952
Income before noncontrolling interest 41,746 4,127,460
Less: loss attributable to noncontrolling interest (51,280) (8,338)
Net income attributable to China Recycling Energy Corporation 93,026 4,135,798
Other comprehensive items    
Foreign currency translation gain (loss) attributable to China Recycling Energy Corporation 1,069,657 (793,715)
Foreign currency translation gain (loss) attributable to noncontrolling interest 535 (964)
Comprehensive income attributable to China Recycling Energy Corporation 1,162,683 3,342,083
Comprehensive loss attributable to noncontrolling interest $ (50,745) $ (9,303)
Basic weighted average shares outstanding 83,084,035 83,072,368
Diluted weighted average shares outstanding 83,084,035 83,072,368
Basic earnings per share $ 0.00 $ 0.05
Diluted earnings per share $ 0.00 $ 0.05