XML 16 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenue    
Sales of systems
Contingent rental income 6,761
Total revenue 6,761
Cost of sales    
Cost of systems and contingent rental income 6,458
Gross profit 303
Interest income on sales-type leases 2,128,016 4,881,530
Total operating income 2,128,016 4,881,833
Operating expenses    
General and administrative 109,061 491,082
Total operating expense 109,061 491,082
Income from operations 2,018,955 4,390,751
Non-operating income (expenses)    
Interest income 36,033 31,688
Interest expense (1,357,210) (1,349,570)
Loss on sale of construction in progress of Tangshan Rongfeng (2,823,328)
Other income 4,523 2,976
Total non-operating expenses, net (1,316,654) (4,138,234)
Income before income tax 702,301 252,517
Income tax expense 416,303 210,771
Income before noncontrolling interest 285,998 41,746
Less: loss attributable to noncontrolling interest (88,423) (51,280)
Net income attributable to China Recycling Energy Corporation 374,421 93,026
Other comprehensive items    
Foreign currency translation loss attributable to China Recycling Energy Corporation 1,105,984 1,069,657
Foreign currency translation gain (loss) attributable to noncontrolling interest (554) 535
Comprehensive income attributable to China Recycling Energy Corporation 1,480,405 1,162,683
Comprehensive loss attributable to noncontrolling interest $ (88,977) $ (50,745)
Basic and diluted weighted average shares outstanding 8,310,198 8,308,404
Basic and diluted earnings per share $ 0.05 $ 0.01