Greenland technologies holding corp. (GLAC)
Balance Sheet / TTM
Dec'19Aug'19May'19Feb'19Dec'18Nov'18Aug'18May'18
ASSETS
Current assets
Cash and cash equivalents

2,123

-

-

-

5,563

-

-

-

Restricted cash

3,593

-

-

-

3,405

-

-

-

Notes receivables

16,156

-

-

-

16,342

-

-

-

Accounts receivable, net of allowance for doubtful accounts of $1,037,797 and $906,138, respectively

11,971

-

-

-

10,176

-

-

-

Inventories (net of provision for slow moving inventory of $134,535 and $178,107, respectively)

9,972

-

-

-

12,400

-

-

-

Due from related parties-current

36,042

-

-

-

-

-

-

-

Advance to suppliers

50

-

-

-

32

-

-

-

Prepayments and Other current assets

327

-

-

-

325

-

-

-

Cash

-

192

344

501

-

644

911

24

Prepaid expenses and other current assets

-

44

52

51

-

84

114

-

Total Current Assets

80,239

236

397

553

48,245

729

1,026

-

Non-current asset
Property, plant, equipment and construction in progress, net

20,630

-

-

-

22,058

-

-

-

Land use rights, net

3,862

-

-

-

3,888

-

-

-

Other intangible assets

5

-

-

-

-

-

-

-

Due from related parties-non current

430

-

-

-

36,636

-

-

-

Deferred tax assets

513

-

-

-

578

-

-

-

Goodwill

3

-

-

-

3

-

-

-

Other non-current assets

798

-

-

-

2

-

-

-

Total non-current assets

26,244

-

-

-

63,168

-

-

-

Marketable securities held in Trust Account

-

45,470

44,829

44,550

-

44,307

44,071

-

Deferred offering costs

-

-

-

-

-

-

-

186

TOTAL ASSETS

106,483

45,707

45,227

45,104

111,414

45,036

45,097

211

Current Liabilities
Short-term bank loans

16,861

-

-

-

19,620

-

-

-

Notes payable-bank acceptance notes

15,050

-

-

-

17,120

-

-

-

Accounts payable

14,713

-

-

-

14,971

-

-

-

Taxes payables

12

-

-

-

155

-

-

-

Customer deposits

132

-

-

-

68

-

-

-

Due to related parties

3,481

-

-

-

7,084

-

-

-

Other current liabilities

3,086

-

-

-

4,203

-

-

-

Long-term payable- current portion

2,654

-

-

-

-

-

-

-

Accounts payable and accrued expenses

-

73

44

87

-

31

46

-

Accrued offering costs

-

-

-

-

-

-

-

12

Advance from related party

-

210

250

-

-

-

-

181

Total current liabilities

55,993

283

294

87

63,224

31

46

194

Long-term liabilities
Long-term bank loans

-

-

-

-

6,556

-

-

-

Long-term payables

1,349

-

-

-

-

-

-

-

Other long-term liabilities

2,178

-

-

-

1,994

-

-

-

Total long-term liabilities

3,528

-

-

-

8,551

-

-

-

TOTAL LIABILITIES

59,521

-

-

-

71,775

-

-

-

Convertible promissory notes – related party

-

690

-

-

-

-

-

-

Deferred underwriting fees

-

1,010

995

979

-

979

978

-

Total Liabilities

-

1,983

1,290

1,066

-

1,010

1,024

-

COMMITMENTS AND CONTINGENCIES

-

-

-

-

-

-

0

0

Ordinary shares subject to possible redemption, 3,747,102 and 3,875,458 shares at redemption value as of August 31, 2019 and November 30, 2018, respectively

-

38,723

38,936

39,037

-

39,025

39,072

-

EQUITY
Preferred shares, no par value; unlimited shares authorized, none issued and outstanding

-

-

-

-

-

-

0

0

Ordinary shares, no par value, 10,006,142 shares authorized; 10,006,142 and 7,500,000 shares issued and outstanding as of December 31, 2019 and December 31, 2018

-

5,369

5,156

5,054

-

5,066

5,020

25

Additional paid-in capital

15,226

-

-

-

12,301

-

-

-

Statutory reserves

3,866

-

-

-

3,334

-

-

-

Retained earnings

19,863

-369

-156

-54

15,931

-66

-19

-8

Accumulated other comprehensive income (loss)

-360

-

-

-

173

-

-

-

Total shareholders' equity

38,595

5,000

5,000

5,000

31,740

5,000

5,000

16

Non-controlling interest

8,366

-

-

-

7,898

-

-

-

TOTAL EQUITY

46,962

-

-

-

39,638

-

-

-

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

106,483

45,707

45,227

45,104

111,414

45,036

45,097

211