10-Q Filing

ADDENTAX GROUP CORP. CIK: 1650101 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-015658`
Period End Date	20200630
Filing Date	20200814
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	atxg-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 32 Cash Flow Statement 50 Stockholders Equity 14

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.35M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.35M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.35M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.35M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$531.68K	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$1.68M	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$4.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$596.79K	USD	Point-in-time
Inventories, net	`InventoryNet`	$347.53K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$231.97K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$146.25K	USD	Point-in-time
Advances to suppliers	`Supplies`	$389.94K	USD	Point-in-time
Advances to suppliers	`Supplies`	$558.42K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.53M	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$585.02K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$692.49K	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$1.71M	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$1.84M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$2.42M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$2.41M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.42M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$6.93M	USD	Point-in-time
Short-term loan	`ShortTermBorrowings`	$353.85K	USD	Point-in-time
Short-term loan	`ShortTermBorrowings`	$353.11K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.53M	USD	Point-in-time
Amount due to related parties	`DueToRelatedPartiesCurrent`	$5.43M	USD	Point-in-time
Amount due to related parties	`DueToRelatedPartiesCurrent`	$5.80M	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$18.93K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$164.49K	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesCurrent`	$230.92K	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesCurrent`	$240.28K	USD	Point-in-time
Lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$443.54K	USD	Point-in-time
Lease liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$428.20K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.10M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.39M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.29M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.29M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.39M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.80M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$11.49M	USD	Point-in-time
Common stock ($0.001 par value, 25,346,004 shares issued and outstanding for the three months ended June 30, 2020 and 2019 respectively)	`CommonStockValue`	$25.35K	USD	Point-in-time
Common stock ($0.001 par value, 25,346,004 shares issued and outstanding for the three months ended June 30, 2020 and 2019 respectively)	`CommonStockValue`	$25.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$61.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$61.05K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-3.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-3.23M	USD	Point-in-time
Statutory reserve	`StatutoryReserve`	$23.51K	USD	Point-in-time
Statutory reserve	`StatutoryReserve`	$23.51K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-56.49K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$52.03K	USD	Point-in-time
Total deficit	`StockholdersEquity`	$-2.03M	USD	Point-in-time
Total deficit	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Total deficit	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Total deficit	`StockholdersEquity`	$-3.07M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$6.93M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$8.42M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.92M	USD	1 Quarter
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.21M	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$1.85M	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$5.12M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$797.64K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$357.93K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$153.25K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$7.23K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$455.96K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$704.45K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$711.67K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$609.21K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$188.43K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-353.74K	USD	1 Quarter
FINANCE COST, NET	`FinanceCost`	$4.39K	USD	1 Quarter
FINANCE COST, NET	`FinanceCost`	$4.92K	USD	1 Quarter
OTHER INCOME/(EXPENSES)	`OtherNonoperatingIncomeExpense`	$-7.00K	USD	1 Quarter
OTHER INCOME/(EXPENSES)	`OtherNonoperatingIncomeExpense`	$23.75K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$207.26K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-365.14K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$3.36K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$2.21K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$203.90K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-367.35K	USD	1 Quarter
Foreign currency translation gain or loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$37.00K	USD	1 Quarter
Foreign currency translation gain or loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.46K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-330.35K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$199.44K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.35M	shares	1 Quarter
Weighted average number of shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.35M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$203.90K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-367.35K	USD	1 Quarter
Depreciation	`Depreciation`	$23.47K	USD	1 Quarter
Depreciation	`Depreciation`	$28.70K	USD	1 Quarter
Loss on disposal of plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.95K	USD	1 Quarter
Loss on disposal of plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.39K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-50.62K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.82M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$94.50K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$249.26K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInPrepaidSupplies`	$168.48K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInPrepaidSupplies`	$-103.67K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-81.66K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-85.72K	USD	1 Quarter
Accounts payables	`IncreaseDecreaseInAccountsPayable`	$-282.91K	USD	1 Quarter
Accounts payables	`IncreaseDecreaseInAccountsPayable`	$-2.09M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$17.04K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$198.35K	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$-50.40K	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$145.56K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$798.39K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-328.77K	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$90.14K	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$143.15K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-143.15K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-90.14K	USD	1 Quarter
Proceeds from related party borrowings	`ProceedsFromRelatedPartyDebt`	$3.30M	USD	1 Quarter
Proceeds from related party borrowings	`ProceedsFromRelatedPartyDebt`	$650.68K	USD	1 Quarter
Repayment of related party borrowings	`RepaymentsOfRelatedPartyDebt`	$2.94M	USD	1 Quarter
Repayment of related party borrowings	`RepaymentsOfRelatedPartyDebt`	$209.70K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$440.98K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$360.39K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$22.07K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.02M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.10K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-766.00	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$277.26K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$531.68K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$298.57K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.55M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$277.26K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$531.68K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$298.57K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.55M	USD	Point-in-time
Cash paid during the year for interest	`InterestPaidNet`	$3.77K	USD	1 Quarter
Cash paid during the year for interest	`InterestPaidNet`	$3.91K	USD	1 Quarter
Cash paid during the year for income tax	`IncomeTaxesPaidNet`	$3.36K	USD	1 Quarter
Cash paid during the year for income tax	`IncomeTaxesPaidNet`	$2.21K	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$551.12K	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-2.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.07M	USD	Point-in-time
Transfer to Statutory reserve	`TransferToStatutoryReserve`	-	USD	1 Quarter
Transfer to Statutory reserve	`TransferToStatutoryReserve`	-	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$37.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.46K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$203.90K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-367.35K	USD	1 Quarter
Balance	`StockholdersEquity`	$-2.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.07M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.