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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue        
Sales of systems $ 24,296,220
Contingent rental income 1,240 274,676
Total revenue 1,240 24,570,896
Cost of sales        
Cost of systems and contingent rental income (2,719) (21,323,089)
Gross profit (loss) (1,479) 3,247,807
Interest income on sales-type leases 2,286,948 5,167,974 10,945,411 17,989,599
Total operating income 2,286,948 5,166,495 10,945,411 21,237,406
Operating expenses        
General and administrative (299,110) (543,078) (1,153,894) (1,776,101)
Income from operations 1,987,838 4,623,417 9,791,517 19,461,305
Non-operating income (expenses)        
Interest income 35,288 53,082 98,790 106,898
Interest expense (1,658,033) (590,740) (5,040,022) (2,393,424)
Loss on sale of construction in progress of Xuzhou Zhongtai (2,822,679)
Loss on systems repurchase from Yida 417,952
Gain on systems repurchase from Jitie and Datong 4,561,430
Other income 202,782 (29,412) 279,200 18,399
Total non-operating income (expenses), net (1,419,963) (567,070) (7,902,663) 2,293,303
Income before income tax 567,875 4,056,347 1,888,854 21,754,608
Income tax expense (benefit) 110,957 796,663 (861,811) 3,096,126
Income before noncontrolling interest 456,918 3,259,684 2,750,665 18,658,482
Less: loss attributable to noncontrolling interest (79,921) (6,907) (227,126) (23,024)
Net income attributable to China Recycling Energy Corporation 536,839 3,266,591 2,977,791 18,681,506
Other comprehensive items        
Foreign currency translation loss attributable to China Recycling Energy Corporation (1,400,319) (8,713,755) (5,899,631) (8,494,720)
Foreign currency translation loss attributable to noncontrolling interest (27,005) (9,290) (5,450) (9,103)
Comprehensive income (loss) attributable to China Recycling Energy Corporation (863,480) (5,447,164) (2,921,840) 10,186,786
Comprehensive loss attributable to noncontrolling interest $ (106,926) $ (16,196) $ (232,576) $ (32,127)
Basic and diluted weighted average shares outstanding 8,310,198 8,308,404 8,310,198 8,308,019
Basic and diluted earnings per share $ 0.06 $ 0.39 $ 0.36 $ 2.25