10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: March 31, 2013

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________to _____________

Commission File Number: 001-34812

THT HEAT TRANSFER TECHNOLOGY, INC.
(Exact Name of Registrant as Specified in Its Charter)

Nevada	20-5463509
(State or other jurisdiction of	(I.R.S. Employer Identification No.)
incorporation or organization)

THT Industrial Park
No. 5 Nanhuan Road, Tiexi District
Siping, Jilin Province 136000
People’s Republic of China
(Address of principal executive offices, Zip Code)

86-434-3265241
(Registrant’s telephone number, including area code)

_____________________________________________________
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X]          No [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). 

Yes [X]          No [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [  ]	Accelerated filer [  ]
Non-accelerated filer [  ] (Do not check if a smaller reporting company)	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [  ]          No [X]

The number of shares outstanding of each of the issuer’s classes of common stock, as of May 14, 2013 is as follows:

Class of Securities	Shares Outstanding
Common Stock, $0.001 par value	20,453,500

THT HEAT TRANSFER TECHNOLOGY, INC.

Quarterly Report on Form 10-Q

Period Ended March 31, 2013

TABLE OF CONTENTS

PART I
FINANCIAL INFORMATION
Item 1.	Financial Statements	2
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	3
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	8
Item 4.	Controls and Procedures	8
PART II
OTHER INFORMATION
Item 1.	Legal Proceedings	9
Item 1A.	Risk Factors	9
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	9
Item 3.	Defaults Upon Senior Securities	9
Item 4.	Mine Safety Disclosures	9
Item 5.	Other Information	9
Item 6.	Exhibits	10

i

PART I
FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

THT HEAT TRANSFER TECHNOLOGY, INC.
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012

Contents	Page(s)
Consolidated Statements of Income and Comprehensive Income	F-1
Consolidated Balance Sheets	F-2
Consolidated Statements of Cash Flows	F-3
Notes to Consolidated Financial Statements	F-4 - F-9

  THT Heat Transfer Technology, Inc.
Consolidated Balance Sheets
(Stated in US dollars)

		March 31,			December 31,
		2013			2012
		(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	8,379,938		$	10,703,199
Restricted cash		1,602,607			1,837,593
Counter guarantee receivable		-			237,771
Trade receivables, net		33,667,444			37,683,275
Bills receivable		4,161,055			2,452,478
Other receivables, prepayments and deposits, net		14,057,617			11,193,541
Inventories, net		35,038,224			31,892,204
Deferred tax assets		165,482			164,577
Total Current Assets		97,072,367			96,164,638
Retention receivable		999,818			1,237,473
Counter guarantee receivable		239,078			237,771
Property, plant and equipment, net		7,489,646			7,707,564
Land use rights, net		6,123,475			6,121,456
TOTAL ASSETS	$	111,924,384		$	111,468,902
LIABILITIES & SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable		7,186,558			7,721,067
Other payables and accrued liabilities		23,140,777			22,841,489
Income tax payable		527,635			615,800
Short-term bank loans		18,807,478			18,704,625
Current maturities of long-term loan		1,912,625			1,902,165
Total Current Liabilities		51,575,073			51,785,146
Non-current liabilities
Long-term loan		956,312			951,083
Total Long-term Liabilities		956,312			951,083
Total Liabilities		52,531,385			52,736,229
SHAREHOLDERS’ EQUITY
Preferred stock, $.001 par value, 10,000,000 shares authorized, no shares issued and outstanding
Common stock, $.001 par value, 190,000,000 shares authorized, 20,453,500    shares issued and outstanding at March 31, 2013 and December 31, 2012		20,454			20,454
Additional paid-in capital		27,396,455			27,396,455
Statutory reserve		3,319,901			3,295,014
Retained earnings		24,634,457			24,345,681
Accumulated other comprehensive income		4,605,939			4,253,693
Total THT Heat Transfer Technology Inc. stockholders’ equity		59,977,206			59,311,297
Noncontrolling interests		(584,207	)		(578,624	)
TOTAL SHAREHOLDERS’ EQUITY		59,392,999			58,732,673
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	111,924,384		$	111,468,902

The accompanying notes are an integrated part of these unaudited consolidated financial statements

F-1

THT Heat Transfer Technology, Inc.
Consolidated Statements of Income and Comprehensive Income
(Stated in US dollars)
(Unaudited)

		For Three Months Ended March 31,
		2013			2012
Sales revenue	$	7,910,435		$	11,449,425
Cost of revenue		(4,919,837	)		(6,843,635	)
Gross Profit		2,990,598			4,605,790
Operating expenses
Administrative expenses		1,031,114			1,252,829
Research and development expenses		208,786			253,983
Selling expenses		1,042,664			2,254,597
Total Operating Expenses		2,282,564			3,761,409
Income from operations		708,034			844,381
Other Income (Expenses)
Interest income		9,593			8,278
Other income		131,231			229,461
Finance costs		(452,423	)		(401,450	)
Other expense		(565	)
Total Other Expense		(312,164	)		(163,711	)
Income before income taxes and noncontrolling interests		395,870			680,670
Income tax expenses		(60,388	)		(75,964	)
Net Income		335,482			604,706
Net income attributable to noncontrolling interests		(21,819	)		(47,527	)
Net income attributable to THT Heat Transfer Technology, Inc. common stockholders	$	313,663		$	557,179
Net Income		335,482			604,706
Other Comprehensive Income
Foreign currency translation adjustments		324,844			349,747
Comprehensive Income		660,326			954,453
Comprehensive (income) loss attributable to noncontrolling interests		5,583			(43,960	)
Comprehensive income attributable to THT Heat Transfer Technology, Inc. common stockholders	$	665,909		$	910,493
Earnings per share attributable to THT Heat Transfer Technology, Inc. common stockholders
Basic and diluted	$	0.02		$	0.03
Weighted average number of shares outstanding
Basic and diluted		20,453,500			20,453,500

The accompanying notes are an integrated part of these unaudited consolidated financial statements

F-2

THT Heat Transfer Technology, Inc.
Consolidated Statements of Cash Flows
(Stated in US dollars)
(Unaudited)

		For the Three Months Ended March 31,
		2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	335,482		$	604,706
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization		296,595			303,818
Allowance for doubtful accounts		(40,660	)		158,200
Changes in operating assets and liabilities:
Trade receivables		4,497,607			(256,204	)
Bills receivable		(1,693,125	)		(187,499	)
Other receivables, prepayments and deposits		(2,799,274	)		(2,308,416	)
Inventories		(2,967,206	)		525,748
Retention receivable		244,176			(23,639	)
Trade payables		(576,296	)		(2,697,582	)
Other payables and accrued expenses		173,486			(1,242,193	)
Tax payable		(91,445	)		(48,693	)
NET CASH USED IN OPERATING ACTIVITIES		(2,620,660	)		(5,171,754	)
CASH FLOWS FROM INVESTING ACTIVITIES
Change in restricted cash		244,806			(341,644	)
Payments to acquire property, plant and equipment		(4,992	)		(18,748	)
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES		239,814			(360,392	)
Effect of foreign currency translation on cash and cash equivalents		57,585			55,243
NET DECREASE IN CASH AND CASH EQUIVALENTS		(2,323,261	)		(5,476,903	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	$	10,703,199		$	7,340,068
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	8,379,938		$	1,863,165
Supplementary Disclosures for Cash Flow Information:
Interest paid	$	354,332		$	396,049
Income taxes paid	$	138,804		$	124,657

The accompanying notes are an integrated part of these unaudited consolidated financial statements

F-3

THT Heat Transfer Technology, Inc.
Notes to Unaudited Consolidated Financial Statements
(Unaudited)
(Stated in US Dollars)

1.	Corporate information
	THT Heat Transfer Technology, Inc. (the “Company” or “THT” or the “Surviving Corporation”) is a Nevada corporation with major operations in China. The Company’s shares are quoted for trading on the Nasdaq Global Market in the United States.
2.	Description of business
	The Company is a holding company whose primary business are conducted through its subsidiaries, namely Siping Juyuan which is located in the Jilin Province and Beijing Juyuan which is located in Beijing City of the PRC. The Company is engaged in the manufacturing and trading of plate heat exchangers and various related products.
	Siping Juyuan was established in the PRC on May 31, 2006 following the division (the “Division”) of Siping City Juyuan Heat Exchange Equipment Co., Ltd. (“Old Juyuan Company”) into three companies, namely Siping Juyuan, Siping City Juyuan Heat Exchange Equipment Co., Ltd. (“New Juyuan Company”) and Siping City Juyuan Hanyang Pressure Vessels Co., Ltd (“Juyuan Hanyang Pressure Vessels”).
3.	Summary of significant accounting policies
	Basis of presentation and consolidation
	The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive consolidated financial statements and should be read in conjunction with the Company’s consolidated financial statements and accompanying notes thereto for the year ended December 31, 2012 filed with the SEC in the Company’s Form 10-K on April 1, 2013.
	In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the three-month period have been made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.
	The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter- company balances and transactions have been eliminated on consolidation.
	Fair value of financial instruments
	Accounting Standards Codification (“ASC”) Topic 820 requires the disclosure of the estimated fair value of financial instruments including those financial instruments for which fair value option was not elected. As of March 31, 2013 and December 31, 2012, the carrying amounts of the Company’s financial assets and liabilities approximated their fair values due to short maturities or the applicable interest rates approximated the current market rates.

F-4

THT Heat Transfer Technology, Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Stated in US Dollars)

3.	Summary of significant accounting policies(cont’d)
	Noncontrolling interests
	As at March 31, 2013, non-controlling interest on the consolidated balance sheets resulted from the consolidation of 75% owned subsidiaries, Beijing Juyuan.
	The schedule below illustrates the movements in the non-controlling interests:

		Three months ended
		March 31
		(Unaudited)
		2013			2012
Balance at beginning of period	$	(578,624	)	$	(565,365	)
Net income attributable to non-controlling interests		21,819			47,527
Foreign currency translation adjustments		(27,402	)		(3,567	)
Balance at end of period	$	(584,207	)	$	(521,405	)

Reclassifications

Certain amounts in the consolidated financial statements for the prior period have been reclassified to conform to the presentation of the current period for the comparative purposes.

Recently issued accounting pronouncements

In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income” (“ASU 2013-02”). Under ASU 2013-02, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in the financial statements. The amendments in this update will be effective for fiscal years and interim periods within those years beginning after December 15, 2012. The Company adopted this pronouncement effective January 1, 2013 and the adoption did not have a material impact on the Company’s consolidated financial statements.

In March 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830)—Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity”. These amendments provide guidance on releasing Cumulative Translation Adjustments when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. In addition, these amendments provide guidance on the release of CTA in partial sales of equity method investments and in step acquisitions. For public entities, the amendments are effective on a prospective basis for fiscal years and interim reporting periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. Prior periods should not be adjusted. The Company does not expect the adoption to have a significant impact on its consolidated financial statements.

F-5

THT Heat Transfer Technology, Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Stated in US Dollars)

4. Trade receivables, net

		March 31,			December 31,
		2013			2012
		(Unaudited)
Trade receivables	$	37,777,073		$	41,810,915
Less : Allowance for doubtful accounts		(4,109,629	)		(4,127,640	)
	$	33,667,444		$	37,683,275

As of March 31, 2013 and December 31, 2012, the Company’s trade receivables of $9,563,125 and $9,510,826, respectively, were pledged as collateral under certain loan and guarantee arrangements (see Note 9).

An analysis of the allowance for doubtful accounts for the three months ended March 31, 2013 and 2012 is as follows:

		Three months ended
		March 31,
		(Unaudited)
		2013			2012
Balance at beginning of period	$	4,127,640		$	2,026,809
Provision for (reversal of) doubtful accounts		(40,660	)		158,200
Translation adjustments		22,650			12,581
Balance at end of period	$	4,109,629		$	2,197,590

5. Inventories, net

		March 31,			December 31,
		2013			2012
		(Unaudited)
Raw materials	$	6,965,181		$	4,434,338
Work-in-progress		27,250,916			26,912,452
Finished goods		841,574			564,755
		35,057,671			31,911,545
Allowance for obsolete inventories		(19,447	)		(19,341	)
	$	35,038,224		$	31,892,204

No further allowance for obsolete inventories was recognized during the three months ended March 31, 2013 and 2012.

As of March 31, 2013 and December 31, 2012, the inventory of $3.5 million was pledged under certain loan agreements (see Note 10).

F-6

THT Heat Transfer Technology, Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Stated in US Dollars)

6.	Income tax
	The effective tax rate is 15% and 11% for the three months periods ended March 31, 2013 and March 31, 2012, respectively.
7.	Property, plant and equipment, net
	As of March 31, 2013 and December 31, 2012, property, plant and equipment with net book values $5,124,131 and $5,096,108, respectively, were pledged as collateral under certain loan arrangements (Note 9).
8.	Land use rights
	As of March 31, 2013 and December 31, 2012, certain land use rights were pledged as collateral under certain loan arrangements (Note 9).
	During the three months ended March 31, 2013 and 2012, amortization amounted to $31,604 and $5,619 respectively.
9.	Short-term bank loans

		March 31,		December 31,
		2013		2012
		(Unaudited)
Secured bank loans	$	15,619,770	$	15,534,350
Unsecured bank loans		3,187,708		3,170,275
	$	18,807,478	$	18,704,625

All bank loans are repayable within one year and carry annual interest from 100% to 120% of the benchmark interest rate published by the People’s Bank of China (the “PBOC”).

The secured bank loans were secured by the following assets of the Company:

		March 31,		December 31,
		2013		2012
		(Unaudited)
Trade receivables (Note 4)	$	9,563,125	$	9,510,826
Property, plant and equipment (Note 7)		5,124,131		5,096,108
Land use rights (Note 8)		1,460,428		1,452,441
	$	16,147,684	$	16,059,375

The unsecured bank loans as of March 31, 2013 and December 31, 2012 were guaranteed by Mr. Zhao and certain third parties who received 2% to 2.5% of the loan balance as compensation for acting as guarantors for the Company. The Company also made the counter guarantee deposits to the guarantors of $0 and $237,771 as of March 31, 2013 and December 31, 2012, respectively.

F-7

THT Heat Transfer Technology, Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Stated in US Dollars)

10.	Long-term loan
	The loan is borrowed from a financial institution, bearing interest at an annual rate of 15% over the benchmark rate of the PBOC for the three-year long-term loans and guaranteed by a third party.
	The secured bank loans were secured by the following assets of the Company:

		March 31,		December 31,
		2013		2012
		(Unaudited)
Inventories (Note 5)	$	3,506,479	$	3,487,303
	$	3,506,479	$	3,487,303

	As a condition the guarantees for the loans the Company paid 2.5% of the loan balance to the third party as compensation for acting as guarantor for the Company and made the counter guarantee deposits to the guarantor of $239,078 and $237,771 as of March 31, 2013 and December 31, 2012, respectively. These deposits will be returned to the Company upon the Company’s settlement of the loans.
	During the three months ended March 31, 2013 and 2012, there was no other covenant requirement under the bank loans granted to the Company except that the inventory level cannot be lower than RMB 22 million (approximately $3.49 million) and RMB 22 million (approximately $3.51 million) during the loan period, respectively.
11.	Common stock warrants
	As of March 31, 2013 and December 31, 2012, there were 222,675 warrants with an exercise price of $3.84 per share outstanding. No warrants were issued or cancelled during the three months ended March 31, 2013.
12.	Earnings per share
	The basic earnings per share is calculated using the net income attributable to the Company’s common stockholders and the weighted average number of shares outstanding during the reporting periods. During the reporting periods, certain share-based awards were not included in the computation of diluted earnings per share because they were anti-dilutive. Accordingly, the basic and diluted earnings per share are the same.
13.	Segment information
	The Company is solely engaged in the manufacturing and trading of plate heat exchangers and various related products. Since the nature of the products, their production processes, and their distribution methods are substantially similar, they are considered as a single reportable segment under ASC 280 “Segment Reporting”.
	The Company’s sales revenues by products for the three months ended March 31, 2013 and 2012 were as follows :-

		Three months ended March 31,
		2013	%		2012	%
		(Unaudited)			(Unaudited)
Plate heat exchanger	$	3,775,087	48	$	5,114,689	45
Heat exchange unit		2,256,561	28		3,670,921	32
Air-cooled heat exchanger		701,003	9		482,240	4
Shell-and-tube heat exchanger		42,671	1		837,704	7
Others		1,135,113	14		1,343,871	12
	$	7,910,435	100	$	11,449,425	100

All of the Company’s long-lived assets and revenues classified based on the customers are located in the PRC.

F-8

THT Heat Transfer Technology, Inc.
Notes to Consolidated Financial Statements
(Unaudited)
(Stated in US Dollars)

14.	Related party transactions
	As of March 31, 2013 and December 31, 2012, the Company advanced $12,140 and $159,158 to Mr. Zhao for handling selling and logistic activities for the Company in the ordinary course of business, which was included in "Other receivables, prepayments and deposits, net".
15.	Acquisition of noncontrolling interests
	Siping Juyuan entered into a share transfer agreement dated May 10, 2012 (the "Share Transfer Agreement") relating to the acquisition of the remaining 25% equity ownership interest in Beijing Juyuan from Hanyang International GmbH (“Hanyang”). The purchase price for this 25% equity interest is RMB 2.5 million (approximately $398,463). The purchase price is expected to be paid by the Company in one lump sum on or before April 30, 2013. Under applicable PRC law, the acquisition of the 25% equity interest in Beijing Juyuan must be approved by appropriate foreign investment approval authority, and then registered with a competent branch of the State Administration of Industry and Commerce. Failure to obtain these necessary approvals or to pay the purchase price may result in the unwinding of the acquisition. The Company obtained all the required PRC regulatory approvals and registrations by March 31, 2013. However, due to the system failure of the Administration of Exchange Control, the Company was unable to pay for the acquisition of 25% equity interest on time and expects to complete the acquisition on or before May 31, 2013.

F-9

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Special Note Regarding Forward Looking Statements

In addition to historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We use words such as “believe,” “expect,” “anticipate,” “project,” “target,” “plan,” “optimistic,” “intend,” “aim,” “will” or similar expressions which are intended to identify forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those identified in Item 1A “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2012, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause the results of the Company to differ materially from those expressed or implied by such forward-looking statements.

Readers are urged to carefully review and consider the various disclosures made by us in this report and our other filings with the SEC. These reports attempt to advise interested parties of the risks and factors that may affect our business, financial condition and results of operations and prospects. The forward-looking statements made in this report speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

Use of Terms

Except where the context otherwise requires and for the purposes of this report only:

• “THT,” “Company,” “we,” “us,” or “our” are to the combined business of THT Heat Transfer Technology, Inc., a Nevada corporation, and its consolidated subsidiaries: Megaway, Star Wealth, Siping Juyuan and Beijing Juyuan;
• “Megaway” are to Megaway International Holdings Limited, a BVI company;
• “Star Wealth” are to Star Wealth International Holdings Limited, a Hong Kong company;
• “Siping Juyuan” are to Siping City Juyuan Hanyang Plate Heat Exchanger Co. Ltd., a PRC company;
• “Beijing Juyuan” are to Beijing Juyuan Hanyang Heat Exchange Equipment Co., Ltd., a PRC company;
• “BVI” are to the British Virgin Islands;
• “Hong Kong” are to the Hong Kong Special Administrative Region of the People’s Republic of China;
• “PRC” and “China” are to the People’s Republic of China;
• “SEC” are to the Securities and Exchange Commission;
• “Exchange Act” are to the Securities Exchange Act of 1934, as amended;
• “Securities Act” re to the Securities Act of 1933, as amended;
• “Renminbi” and “RMB” are to the legal currency of China; and
• “U.S. dollars,” “dollars” and “$” are to the legal currency of the United States.

Overview of our Business

We are a leading total solution provider in the heat exchange industry. Our major products are plate heat exchangers, heat exchanger units, air-cooled heat exchangers and shell-and-tube heat exchangers. Unlike most other heat exchanger manufacturers in China, we not only provide heat exchange products, but also provide total solutions to our customers. As a total solutions provider, we analyze the working condition of our customers, provide optimized designs based on analysis and simulation, offer high quality heat exchange products, and continuously assist our customers in improving the heat exchange process.

Over the past ten years, we have successfully completed over 3,000 projects in more than 15 industries, including metallurgy, heat and power, petrochemical, food and beverage, pharmaceutical and shipbuilding. We have provided heat exchange solutions to Fortune 500 companies, including Shell, BP, BASF, LG, Sinopec and China Shenhua. We have also provided heat exchange products for important Chinese and international projects such as the Beijing 2008 Olympics Wukesong Sports Center, Guangdong Linao nuclear plant and BASF Chemical plant in Germany.

3

Our operations are headquartered in Siping, Jilin Province, PRC. Our primary Chinese operating subsidiaries are Siping Juyuan and Beijing Juyuan.

Recent Developments

Because of the system failure of the Administration of Exchange Control, we were unable to pay for the acquisition of 25% equity interest of Hanyang Internaional GmbH on time and expect to complete the acquisition on or before May 31, 2013.

First Quarter Financial Performance Highlights

The following summarizes certain key financial information for the first quarter of 2013:

• Sales revenue: Sales revenue decreased by $3.54 million, or 30.91%, to $7.91 million for the three months ended March 31, 2013, from $11.45 million for the same period in 2012.

• Gross profit: Gross profit decreased by $1.62 million, or 35.07%, to $2.99 million for the three months ended March 31, 2013, from $4.61 million for the same period in 2012. As a percentage of sales revenue, gross profit decreased by 2.42% to 37.81% for the three months ended March 31, 2013, from 40.23% for the same period in 2012.

• Net income attributable to common stockholders: Net income attributable to our common stockholders decreased by $0.24 million, or 43.70%, to $0.31 million for the three months ended March 31, 2013, from $0.56 million for the same period in 2012.

• Fully diluted net income per share: Fully diluted net income per share was $0.02 for the three months ended March 31, 2013, as compared to $0.03 for the same period in 2012.

Results of Operations

The following table sets forth key components of our results of operations for the periods indicated.

		Three Months Ended March 31,						$		%
		2013			2012			Change		Change
Sales revenue	$	7,910,435		$	11,449,425		$	(3,538,990	)	(30.91	)
Cost of sales		(4,919,837	)		(6,843,635	)		1,923,798		(28.11	)
Gross profit		2,990,598			4,605,790			(1,615,192	)	(35.07	)
Operating expenses:
Administrative expenses		1,031,114			1,252,829			(221,715	)	(17.70	)
Research and development expenses		208,786			253,983			(45,197	)	(17.80	)
Selling expenses		1,042,664			2,254,597			(1,211,933	)	(53.75	)
Total operating expenses		2,282,564			3,761,409			(1,478,845	)	(39.32	)
Income from operations		708,034			844,381			(136,347	)	(16.15	)
Interest income		9,593			8,278			1,315		15.89
Other income (expense)		131,231			229,461			(98,230	)	(42.81	)
Finance costs		(452,423	)		(401,450	)		(50,972	)	12.70
Income before income taxes and noncontrolling interests		395,870			680,670			(284,799	)	(41.84	)
Income taxes		(60,388	)		(75,964	)		15,576		(20.50	)
Net income before noncontrolling interests		335,482			604,706			(269,223	)	(44.52	)
Net loss attributable to noncontrolling interests		(21,819	)		(47,527	)		25,708		(54.09	)
Net income attributable to THT common stockholders	$	313,663		$	557,179		$	(243,515	)	(43.71	)

4

Sales revenue. Our sales revenue is generated from sales of heat exchange products. Sales revenue decreased by $3.54 million, or 30.91%, to $7.91 million for the three months ended March 31, 2013, from $11.45 million for the same period in 2012. Our sales volume in the three months ended March 31, 2013 amounted to 383 units, a decrease of 277 units, from 660 units for the same period in 2012. Such decrease was mainly due to the decreased sales revenue from plate heat exchangers, shell-and- tube heat exchangers and heat exchange units in the 2013 period as compared with the 2012 period. Sales revenue from plate heat exchangers decreased by $1.34 million, or 26.19%, to $3.78 million for the three months ended March 31, 2013, from $5.11 million in the same period in 2012.Sales revenue from shell-and- tube heat exchangers decreased by $0.80 million, or 94.91%, to $0.04 million for the three months ended March 31, 2013, from $0.84 million in the same period in 2012. Sales revenue from heat exchange units decreased by $1.41 million, or 38.53%, to $2.26 million for the three months ended March 31, 2013, from $3.67 million in the same period in 2012.The decrease was caused by decreased demand of our products as a result of fewer projects around the Chinese spring festival and overall slowdown of China’s economy.

The following table shows our sales revenue by product for the three months ended March 31, 2013 and 2012

		Three Months Ended March 31,
		2013			2012
		$	%		$	%
Plate heat exchanger	$	3,775,087	48	$	5,114,689	45
Heat exchange unit		2,256,561	28		3,670,921	32
Air-cooled heat exchanger		701,003	9		482,240	4
Shell-and-tube heat exchanger		42,671	1		837,704	7
Others		1,135,113	14		1,343,871	12
TOTAL	$	7,910,435	100	$	11,449,425	100

Cost of sales. Our cost of sales is primarily comprised of the costs of our raw materials, labor and factory overhead. Our cost of sales decreased by $1.92 million, or 28.11%, to $4.92 million for the three months ended March 31, 2013, from $6.84 million for the three months ended March 31, 2012. The decrease in the cost of sales was generally in line with the decrease in our sales revenue. Cost of sales as a percentage of sales revenue were 62.19% and 59.77% for the three months ended March 31, 2013 and 2012, respectively, an increase of 2.42% . The increase was mainly attributable to the increase in labor costs and raw material costs.

Gross profit. Our gross profit is equal to the difference between our sales revenue and our cost of sales. Our gross profit decreased by $1.62 million, or 35.07%, to $2.99 million for the three months ended March 31, 2013, from $4.61 million for the same period in 2012. The decrease in our gross profit was mainly attributable to decreased sales revenue from plate heat exchangers, shell-and- tube heat exchangers and heat exchange unit. Although the average unit selling price of our products increased $3,000 in the three months ended March 31, 2013 in comparison with the same period in 2012, gross profit margin for the three months ended March 31, 2013 dropped to 37.81% from 40.23% for the same period in 2012. The decrease in our gross profit margin was mainly attributable to the increase in labor costs and raw material costs as noted above.

5

Administrative expenses. Our administrative expenses consist of the costs associated with staff and support personnel who manage our business activities. Our administrative expenses decreased by $0.22 million, or 17.70%, to $1.03 million for the three months ended March 31, 2013, from $1.25 million for the same period in 2012. As a percentage of sales revenue, administrative expenses increased to 13.03% for the three months ended March 31, 2013, as compared to 10.94% for the same period in 2012. The decrease in administrative expenses was primarily due to a decrease of our audit fees and travelling expenses. Audit fees decreased by approximately $0.09 million, or 86.34%, to $0.04 million, compared with $0.13 million for the same period in 2012. Travelling expenses decreased by approximately $0.08 million, or 43.16%, to $0.11 million for the three months ended March 31, 2013 compared with $0.18 million for the same period in 2012.

Research and development expenses. Our research and development expenses consist of the costs associated with research and development personnel and expense in research and development projects. Our research and development expenses decreased by $0.04 million, or 17.80%, to $0.21 million for the three months ended March 31, 2013, from $0.25 million for the same period in 2012. The decrease in research and development expenses was mainly attributable to the fact that we only have a few new products in the process of research and development.

Selling expenses. Our selling expenses include sales commissions, the cost of advertising and promotional materials, salaries and fringe benefits of sales personnel, after-sale support services and other sales-related costs. Our selling expenses decreased by $1.21 million, or 53.75%, to $1.04 million for the three months ended March 31, 2013, from $2.25 million for the same period in 2012. As a percentage of sales revenue, selling expenses decreased to 13.18% for the three months ended March 31, 2013, as compared to 19.69% for the same period in 2012. The decrease was mainly attributable to the decreased travelling expenses of our sales personnel. Traveling expense decreased by $1.24 million, or 82.16%, to $0.27 million for the three months ended March 31, 2013, from $1.51 million for the same period in 2012. The decrease in travelling expenses was mainly due to a training program we held in the first quarter of 2013 to our sales personnel, which contributed to less travelling activities compared with the same period in 2012.

Income before income taxes. Income before income taxes decreased by $0.28 million, or 41.84%, to $0.40 million for the three months ended March 31, 2013, from $0.68 million for the same period in 2012. Such decrease was mainly attributable to the decrease of our sales revenue.

Income taxes. Our income taxes decreased to $0.06 million for the three months ended March 31, 2013, from $0.08 million for the same period in 2012, as a result of the decreased taxable income.

Net income attributable to common stockholders. As a result of the cumulative effect of the foregoing factors, our net income attributable to common stockholders decreased by $0.24 million, or 43.70%, to $0.31 million for the three months ended March 31, 2013, from $0.55 million for the same period in 2012. As a percentage of sales revenue, our net income attributable to common stockholders was 3.97% and 4.87% for the three months ended March 31, 2013 and 2012, respectively.

Liquidity and Capital Resources

As of March 31, 2013, we had cash and cash equivalents of $8.38 million, primarily consisting of cash on hand and demand deposits. We can use our land as collateral to borrow approximately $4.76 million. In addition, we have an approximately $7.95 million credit line from Industrial and Commercial Bank of China. We anticipate that cash on hand and borrowing capacity under our bank loans will be sufficient to satisfy our ongoing obligations.

We believe our allowance for doubtful accounts is appropriate. We have an installment payment arrangement with our customers. The current economic slowdown and China’s tightened credit policy led to delayed payments and delayed delivery schedules by our customers, which in turn caused us to increase our allowance for doubtful accounts from $2.20 million in the three months ended March 31, 2012 to $4.11 million in the same period in 2013. To control inflation after a massive stimulus plan, the Chinese government tightened its credit policy. As a result, state-owned banks limited their lending to large state-owned corporations and privately held companies continue to have difficulty accessing capital. Most of our customers have been affected by the tightened credit policy and have limited access to capital. The Company records an allowance for doubtful accounts at a rate of 25% for receivables aged between 1 to 2 years, 50% for receivables aged between 2 to 3 years and 100% for receivables aged over 3 years.

We expect that the trend of delayed customer payments and delayed delivery schedules will continue in the future. We have been taking the following measures to mitigate the situation: 1) send the collection letters or call the customers to request payment; 2) appoint specialists to visit our customers to collect payment; and 3) file law suits. The Company collected $15.89 million in the three months ended March 31, 2013.

6

PRC legal restrictions permit payments of dividends by our PRC subsidiaries only out of their accumulated after-tax profits, if any, determined in accordance with PRC accounting standards and regulations. Our PRC subsidiaries are also required under PRC laws and regulations to allocate at least 10% of their annual after-tax profits determined in accordance with PRCGAAP to a statutory general reserve fund until the amounts in said fund reaches 50% of our registered capital. Allocations to these statutory reserve funds can only be used for specific purposes and are not transferable to us in the form of loans, advances, or cash dividends. Given that the Company and the PRC subsidiaries do not intend to pay dividends for the foreseeable future, we consider the impact of restrictions on our liquidity, financial condition and results of operations is not significant.

The following table provides a summary of our net cash flows from operating, investing, and financing activities.

Cash Flow

		Three Months Ended March 31,
		2013			2012
Net cash used in operating activities	$	(2,620,660	)	$	(5,171,754	)
Net cash provided by (used in) investing activities		239,814			(360,392	)
Net cash provided by (used in) financing activities		-			-
Effects of exchange rate change in cash		57,585			55,243
Net decrease in cash and cash equivalents		(2,323,261	)		(5,476,903	)
Cash and cash equivalents at beginning of the period		10,703,199			7,340,068
Cash and cash equivalent at end of the period	$	8,379,938		$	1,863,165

Operating Activities

Net cash used in operating activities was $2.62 million for the three months ended March 31, 2013, compared with $5.17 million for the same period in 2012. The decrease in net cash used in operating activities was mainly because the account receivables decreased $4.50 million in the first quarter of 2013 but increased $0.26 million in the same period in 2012 while the inventories increased $2.97 million in 2013 but decreased $0.53 million in the same period in 2012. Our cash and cash equivalents decrease $2.32 million from $10.70 million on December 31, 2012 to $8.38 million on March 31, 2013. The decrease of cash and cash equivalents was mainly attributable to net cash flows used in operating activities of $2.62 million, which was mainly due to (1) decreased level of trade receivables, (2) increased balance of inventories, and (3) other receivables, prepayment and deposits for the three months period ended 2013 increased compared with the same period in 2012 as the Company had more advances to staff.

Investing Activities

Net cash provided by investing activities was $0.24 million for the three months ended March 31, 2013, compared with net cash used in investing activities of $0.36 million in the same period in 2012, primarily due to change in restricted cash as requested by the banks in order to issue performance bonds.

Financing Activities

No financing activities occurred for the three months ended March 31, 2013 and 2012.

Capital Expenditures

Our capital expenditures were used primarily for the purchase of equipment to expand our production capacity and deposits for land use rights. The table below sets forth the breakdown of our capital expenditures by use for the periods indicated.

		Three Months Ended March 31,
		2013		2012
		(in thousands)
Purchase of equipment	$	5	$	19
Total capital expenditures	$	5	$	19

7

We estimate that our total capital expenditures in fiscal year 2013 will reach approximately $3.15 million, our capital expenditures will be primarily for the purchase of equipment and construct plant.

Obligations Under Material Contracts

Except with respect to the loan obligations disclosed above, we have no material obligations to pay cash or deliver cash to any other party.

Seasonality

Our operating results and operating cash flows historically have been subject to seasonal variations. Our revenues usually increase over each quarter of the calendar year with the first quarter usually the slowest quarter because fewer projects are undertaken during and around the Chinese spring festival.

Inflation

Inflation and changing prices have not had a material effect on our business, and we do not expect that inflation or changing prices will materially affect our business in the foreseeable future. However, our management will closely monitor price changes in the Chinese economy and our industry and continually maintain effective cost controls in operations.

Off Balance Sheet Arrangements

We do not have any off balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, sales or expenses, results of operations, liquidity or capital expenditures, or capital resources that are material to an investment in our securities.

Critical Accounting Policies

Critical accounting policies are those we believe are most important to portraying our financial conditions and results of operations and also require the greatest amount of subjective or complex judgments by management. Judgments and uncertainties regarding the application of these policies may result in materially different amounts being reported under various conditions or using different assumptions. There have been no material changes to the critical accounting policies previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2012.

Recent Accounting Pronouncements

See Note 3 to our unaudited condensed consolidated financial statements included elsewhere in this report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not Applicable.

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act). Disclosure controls and procedures refer to controls and other procedures designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

As required by Rule 13a-15(e), our management has carried out an evaluation, with the participation and under the supervision of our Chief Executive Officer, Mr. Guohong Zhao, and Chief Financial Officer, Mr. Zhigang Xu, of the effectiveness of the design and operation of our disclosure controls and procedures, as of March 31, 2013. Based upon, and as of the date of this evaluation, Messrs. Zhao and Xu determined that because of the material weaknesses described in Item 9A “Controls and Procedures” of our Annual Report on Form 10-K for the year ended December 31, 2012, which we are still in the process of remediating as of March 31, 2013, our disclosure controls and procedures were not effective. Investors are directed to Item 9A of our Annual Report on Form 10-K for the year ended December 31, 2013 for the description of these weaknesses.

8

Changes in Internal Control over Financial Reporting

We regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls and increase efficiency, while ensuring that we maintain an effective internal control environment. Changes may include such activities as implementing new, more efficient systems, consolidating activities, and migrating processes.

During its evaluation of the effectiveness of internal control over financial reporting as of December 31, 2012, our management identified material weakness related to our lack of: (1) sufficient and adequately trained accounting and finance personnel; (2) qualified resources to perform the internal audit functions properly; and (3) an internal audit department, which renders ineffective our ability to prevent and detect control lapses and errors in the accounting of certain key areas. As disclosed in our Annual Report on Form 10-K for the year ended December 31, 2012, our management has identified the steps necessary to address the material weaknesses, and in the first quarter of 2013, we continued to implement these remedial procedures.

Other than in connection with the implementation of the remedial measures described above, there were no changes in our internal controls over financial reporting during the first quarter of 2013 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II
OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

From time to time, we may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these, or other matters, may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse affect on our business, financial condition, cash flow or operating results.

ITEM 1A. RISK FACTORS.

Not applicable.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

We have not sold any equity securities during the first quarter of 2013 that were not previously disclosed in a quarterly report on Form 10-Q or a current report on Form 8-K that was filed during the quarter.

No repurchases of our common stock were made during the first quarter of 2013.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

We have no information to disclose that was required to be in a report on Form 8-K during the first quarter of 2012, but was not reported. There have been no material changes to the procedures by which security holders may recommend nominees to our board of directors.

9

ITEM 6. EXHIBITS.

The list of exhibits in the Exhibit Index to this report is incorporated herein by reference.

10

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: May 14, 2013	THT HEAT TRANSFER TECHNOLOGY, INC.
	By:	/s/ Guohong Zhao
		Guohong Zhao, Chief Executive Officer
		(Principal Executive Officer)
	By:	/s/ Zhigang Xu
		Zhigang Xu, Chief Financial Officer
		(Principal Financial Officer and Principal
		Accounting Officer)

EXHIBIT INDEX

Exhibit No.	Description
31.1	Certifications of Principal Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certifications of Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certifications of Principal Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certifications of Principal Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	Interactive data files pursuant to Rule 405 of Regulation S-T (furnished herewith).

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Guohong Zhao, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of THT Heat Transfer Technology, Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 14, 2013

/s/ Guohong Zhao                    
Guohong Zhao
Chief Executive Officer
(Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Jianjun He, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of THT Heat Transfer Technology, Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 14, 2013

/s/ Zhigang Xu                  
Zhigang Xu
Chief Financial Officer
(Principal Financial and Accounting Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

The undersigned, Guohong Zhao, the Chief Executive Officer of THT HEAT TRANSFER TECHNOLOGY, INC. (the “Company”), DOES HEREBY CERTIFY that:

1. The Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 (the “Report”), fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

2. Information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

IN WITNESS WHEREOF, each of the undersigned has executed this statement this 14th day of May, 2013.

/s/ Guohong Zhao                   

Guohong Zhao

Chief Executive Officer

(Principal Executive Officer)

A signed original of this written statement required by Section 906 has been provided to THT Heat Transfer Technology, Inc. and will be retained by THT Heat Transfer Technology, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The forgoing certification is being furnished to the Securities and Exchange Commission pursuant to § 18 U.S.C. Section 1350. It is not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

The undersigned, Jianjun He, the Chief Financial Officer of THT HEAT TRANSFER TECHNOLOGY, INC. (the “Company”), DOES HEREBY CERTIFY that:

1. The Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 (the “Report”), fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

2. Information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

IN WITNESS WHEREOF, each of the undersigned has executed this statement this 14th day of May, 2013.

/s/ Zhigang Xu                         

Zhigang Xu

Chief Financial Officer

(Principal Financial Officer)

A signed original of this written statement required by Section 906 has been provided to THT Heat Transfer Technology, Inc. and will be retained by THT Heat Transfer Technology, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The forgoing certification is being furnished to the Securities and Exchange Commission pursuant to § 18 U.S.C. Section 1350. It is not being filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

XML

Schedule of Noncontrolling Interests (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 1	$ (578,624)
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 2	(565,365)
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 3	21,819
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 4	47,527
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 5	(27,402)
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 6	(3,567)
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 7	(584,207)
Summary Of Significant Accounting Policies Schedule Of Noncontrolling Interests 8	$ (521,405)

XML

Schedule of Segment Reporting Information, by Products (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Segment Information Schedule Of Segment Reporting Information, By Products 1	$ 3,775,087
Segment Information Schedule Of Segment Reporting Information, By Products 2	48
Segment Information Schedule Of Segment Reporting Information, By Products 3	5,114,689
Segment Information Schedule Of Segment Reporting Information, By Products 4	45
Segment Information Schedule Of Segment Reporting Information, By Products 5	2,256,561
Segment Information Schedule Of Segment Reporting Information, By Products 6	28
Segment Information Schedule Of Segment Reporting Information, By Products 7	3,670,921
Segment Information Schedule Of Segment Reporting Information, By Products 8	32
Segment Information Schedule Of Segment Reporting Information, By Products 9	701,003
Segment Information Schedule Of Segment Reporting Information, By Products 10	9
Segment Information Schedule Of Segment Reporting Information, By Products 11	482,240
Segment Information Schedule Of Segment Reporting Information, By Products 12	4
Segment Information Schedule Of Segment Reporting Information, By Products 13	42,671
Segment Information Schedule Of Segment Reporting Information, By Products 14	1
Segment Information Schedule Of Segment Reporting Information, By Products 15	837,704
Segment Information Schedule Of Segment Reporting Information, By Products 16	7
Segment Information Schedule Of Segment Reporting Information, By Products 17	1,135,113
Segment Information Schedule Of Segment Reporting Information, By Products 18	14
Segment Information Schedule Of Segment Reporting Information, By Products 19	1,343,871
Segment Information Schedule Of Segment Reporting Information, By Products 20	12
Segment Information Schedule Of Segment Reporting Information, By Products 21	7,910,435
Segment Information Schedule Of Segment Reporting Information, By Products 22	100
Segment Information Schedule Of Segment Reporting Information, By Products 23	11,449,425
Segment Information Schedule Of Segment Reporting Information, By Products 24	$ 100

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Land Use Rights (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Land Use Rights 1	$ 31,604
Land Use Rights 2	$ 5,619

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Short-term bank loans (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Short-term Bank Debt [Table Text Block]

		March 31,		December 31,
		2013		2012
		(Unaudited)
Secured bank loans	$	15,619,770	$	15,534,350
Unsecured bank loans		3,187,708		3,170,275
	$	18,807,478	$	18,704,625

Schedule of Assets Used to Secure Short-Term Bank Loans [Table Text Block]

		March 31,		December 31,
		2013		2012
		(Unaudited)
Trade receivables (Note 4)	$	9,563,125	$	9,510,826
Property, plant and equipment (Note 7)		5,124,131		5,096,108
Land use rights (Note 8)		1,460,428		1,452,441
	$	16,147,684	$	16,059,375

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Schedule of Inventories, net (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Inventories, Net Schedule Of Inventories, Net 1	$ 6,965,181
Inventories, Net Schedule Of Inventories, Net 2	4,434,338
Inventories, Net Schedule Of Inventories, Net 3	27,250,916
Inventories, Net Schedule Of Inventories, Net 4	26,912,452
Inventories, Net Schedule Of Inventories, Net 5	841,574
Inventories, Net Schedule Of Inventories, Net 6	564,755
Inventories, Net Schedule Of Inventories, Net 7	35,057,671
Inventories, Net Schedule Of Inventories, Net 8	31,911,545
Inventories, Net Schedule Of Inventories, Net 9	(19,447)
Inventories, Net Schedule Of Inventories, Net 10	(19,341)
Inventories, Net Schedule Of Inventories, Net 11	35,038,224
Inventories, Net Schedule Of Inventories, Net 12	$ 31,892,204

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Related Party Transactions (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Related Party Transactions 1	$ 12,140
Related Party Transactions 2	$ 159,158

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Trade receivables, net

3 Months Ended

Mar. 31, 2013

Trade receivables, net [Text Block]

4. Trade receivables, net

		March 31,			December 31,
		2013			2012
		(Unaudited)
Trade receivables	$	37,777,073		$	41,810,915
Less : Allowance for doubtful accounts		(4,109,629	)		(4,127,640	)
	$	33,667,444		$	37,683,275

As of March 31, 2013 and December 31, 2012, the Company’s trade receivables of $9,563,125 and $9,510,826, respectively, were pledged as collateral under certain loan and guarantee arrangements (see Note 9).

An analysis of the allowance for doubtful accounts for the three months ended March 31, 2013 and 2012 is as follows:

		Three months ended
		March 31,
		(Unaudited)
		2013			2012
Balance at beginning of period	$	4,127,640		$	2,026,809
Provision for (reversal of) doubtful accounts		(40,660	)		158,200
Translation adjustments		22,650			12,581
Balance at end of period	$	4,109,629		$	2,197,590

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Schedule of Short-term Bank Debt (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Short-term Bank Loans Schedule Of Short-term Bank Debt 1	$ 15,619,770
Short-term Bank Loans Schedule Of Short-term Bank Debt 2	15,534,350
Short-term Bank Loans Schedule Of Short-term Bank Debt 3	3,187,708
Short-term Bank Loans Schedule Of Short-term Bank Debt 4	3,170,275
Short-term Bank Loans Schedule Of Short-term Bank Debt 5	18,807,478
Short-term Bank Loans Schedule Of Short-term Bank Debt 6	$ 18,704,625

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Trade receivables, net (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Trade Receivables, Net 1	$ 9,563,125
Trade Receivables, Net 2	$ 9,510,826

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Summary Of Significant Accounting Policies (Narrative) (Details)	3 Months Ended
	Mar. 31, 2013
Summary Of Significant Accounting Policies 1	75.00%

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Schedule of Assets Used to Secure Short-Term Bank Loans (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 1	$ 9,563,125
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 2	9,510,826
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 3	5,124,131
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 4	5,096,108
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 5	1,460,428
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 6	1,452,441
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 7	16,147,684
Short-term Bank Loans Schedule Of Assets Used To Secure Short-term Bank Loans 8	$ 16,059,375

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Inventories, net (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2013
Inventories, Net 1	$ 4

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Income Tax (Narrative) (Details)	3 Months Ended
	Mar. 31, 2013
Income Tax 1	15.00%
Income Tax 2	11.00%

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Summary Of Significant Accounting Policies

3 Months Ended

Mar. 31, 2013

Summary Of Significant Accounting Policies [Text Block]

3. Summary of significant accounting policies

Basis of presentation and consolidation

The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive consolidated financial statements and should be read in conjunction with the Company’s consolidated financial statements and accompanying notes thereto for the year ended December 31, 2012 filed with the SEC in the Company’s Form 10-K on April 1, 2013.

In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the three-month period have been made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.

The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter- company balances and transactions have been eliminated on consolidation.

Fair value of financial instruments

Accounting Standards Codification (“ASC”) Topic 820 requires the disclosure of the estimated fair value of financial instruments including those financial instruments for which fair value option was not elected. As of March 31, 2013 and December 31, 2012, the carrying amounts of the Company’s financial assets and liabilities approximated their fair values due to short maturities or the applicable interest rates approximated the current market rates.

Noncontrolling interests

As at March 31, 2013, non-controlling interest on the consolidated balance sheets resulted from the consolidation of 75% owned subsidiaries, Beijing Juyuan.

The schedule below illustrates the movements in the non-controlling interests:

		Three months ended
		March 31
		(Unaudited)
		2013			2012
Balance at beginning of period	$	(578,624	)	$	(565,365	)
Net income attributable to non-controlling interests		21,819			47,527
Foreign currency translation adjustments		(27,402	)		(3,567	)
Balance at end of period	$	(584,207	)	$	(521,405	)

Reclassifications

Certain amounts in the consolidated financial statements for the prior period have been reclassified to conform to the presentation of the current period for the comparative purposes.

Recently issued accounting pronouncements

In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income” (“ASU 2013-02”). Under ASU 2013-02, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in the financial statements. The amendments in this update will be effective for fiscal years and interim periods within those years beginning after December 15, 2012. The Company adopted this pronouncement effective January 1, 2013 and the adoption did not have a material impact on the Company’s consolidated financial statements.

In March 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830)—Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity”. These amendments provide guidance on releasing Cumulative Translation Adjustments when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. In addition, these amendments provide guidance on the release of CTA in partial sales of equity method investments and in step acquisitions. For public entities, the amendments are effective on a prospective basis for fiscal years and interim reporting periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. Prior periods should not be adjusted. The Company does not expect the adoption to have a significant impact on its consolidated financial statements.

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Property, plant and equipment, net (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Property, Plant And Equipment, Net 1	$ 5,124,131
Property, Plant And Equipment, Net 2	$ 5,096,108

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Schedule of Accounts Receivable (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Trade Receivables, Net Schedule Of Accounts Receivable 1	$ 37,777,073
Trade Receivables, Net Schedule Of Accounts Receivable 2	41,810,915
Trade Receivables, Net Schedule Of Accounts Receivable 3	(4,109,629)
Trade Receivables, Net Schedule Of Accounts Receivable 4	(4,127,640)
Trade Receivables, Net Schedule Of Accounts Receivable 5	33,667,444
Trade Receivables, Net Schedule Of Accounts Receivable 6	$ 37,683,275

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Consolidated Balance Sheets (USD $)	Mar. 31, 2013	Dec. 31, 2012
Current assets
Cash and cash equivalents	$ 8,379,938	$ 10,703,199
Restricted cash	1,602,607	1,837,593
Counter guarantee receivable	0	237,771
Trade receivables, net	33,667,444	37,683,275
Bills receivable	4,161,055	2,452,478
Other receivables, prepayments and deposits, net	14,057,617	11,193,541
Inventories, net	35,038,224	31,892,204
Deferred tax assets	165,482	164,577
Total Current Assets	97,072,367	96,164,638
Retention receivable	999,818	1,237,473
Counter guarantee receivable	239,078	237,771
Property, plant and equipment, net	7,489,646	7,707,564
Land use rights, net	6,123,475	6,121,456
TOTAL ASSETS	111,924,384	111,468,902
Current Liabilities
Accounts payable	7,186,558	7,721,067
Other payables and accrued liabilities	23,140,777	22,841,489
Income tax payable	527,635	615,800
Short-term bank loans	18,807,478	18,704,625
Current maturities of long-term loan	1,912,625	1,902,165
Total Current Liabilities	51,575,073	51,785,146
Non-current liabilities
Long-term loan	956,312	951,083
Total Long-term Liabilities	956,312	951,083
Total Liabilities	52,531,385	52,736,229
SHAREHOLDERS' EQUITY
Preferred stock, $.001 par value, 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.001 par value, 190,000,000 shares authorized, 20,453,500 shares issued and outstanding at March 31, 2013 and December 31, 2012	20,454	20,454
Additional paid-in capital	27,396,455	27,396,455
Statutory reserve	3,319,901	3,295,014
Retained earnings	24,634,457	24,345,681
Accumulated other comprehensive income	4,605,939	4,253,693
Total THT Heat Transfer Technology Inc. stockholders' equity	59,977,206	59,311,297
Noncontrolling interests	(584,207)	(578,624)
TOTAL SHAREHOLDERS' EQUITY	59,392,999	58,732,673
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 111,924,384	$ 111,468,902

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Schedule of Assets Used to Secure Long-Term Loans (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Long-term Loan Schedule Of Assets Used To Secure Long-term Loans 1	$ 3,506,479
Long-term Loan Schedule Of Assets Used To Secure Long-term Loans 2	3,487,303
Long-term Loan Schedule Of Assets Used To Secure Long-term Loans 3	3,506,479
Long-term Loan Schedule Of Assets Used To Secure Long-term Loans 4	$ 3,487,303

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Corporate Information

3 Months Ended

Mar. 31, 2013

Corporate Information [Text Block]

1.	Corporate information
	THT Heat Transfer Technology, Inc. (the “Company” or “THT” or the “Surviving Corporation”) is a Nevada corporation with major operations in China. The Company’s shares are quoted for trading on the Nasdaq Global Market in the United States.

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Long-Term Loan (Narrative) (Details)	3 Months Ended
	Mar. 31, 2013 USD ($)	Mar. 31, 2013 CNY
Long-term Loan 1	15.00%	15.00%
Long-term Loan 2	2.50%	2.50%
Long-term Loan 3	$ 239,078
Long-term Loan 4	237,771
Long-term Loan 5		22,000,000
Long-term Loan 6	3,490,000
Long-term Loan 7		22,000,000
Long-term Loan 8	$ 3,510,000

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Summary Of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Noncontrolling Interests [Table Text Block]

		Three months ended
		March 31
		(Unaudited)
		2013			2012
Balance at beginning of period	$	(578,624	)	$	(565,365	)
Net income attributable to non-controlling interests		21,819			47,527
Foreign currency translation adjustments		(27,402	)		(3,567	)
Balance at end of period	$	(584,207	)	$	(521,405	)

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Common stock warrants (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Common Stock Warrants 1	222,675
Common Stock Warrants 2	$ 3.84

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Inventories, net (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Inventories, net [Table Text Block]

		March 31,			December 31,
		2013			2012
		(Unaudited)
Raw materials	$	6,965,181		$	4,434,338
Work-in-progress		27,250,916			26,912,452
Finished goods		841,574			564,755
		35,057,671			31,911,545
Allowance for obsolete inventories		(19,447	)		(19,341	)
	$	35,038,224		$	31,892,204

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Description Of Business

3 Months Ended

Mar. 31, 2013

Description Of Business [Text Block]

2.	Description of business
	The Company is a holding company whose primary business are conducted through its subsidiaries, namely Siping Juyuan which is located in the Jilin Province and Beijing Juyuan which is located in Beijing City of the PRC. The Company is engaged in the manufacturing and trading of plate heat exchangers and various related products.
	Siping Juyuan was established in the PRC on May 31, 2006 following the division (the “Division”) of Siping City Juyuan Heat Exchange Equipment Co., Ltd. (“Old Juyuan Company”) into three companies, namely Siping Juyuan, Siping City Juyuan Heat Exchange Equipment Co., Ltd. (“New Juyuan Company”) and Siping City Juyuan Hanyang Pressure Vessels Co., Ltd (“Juyuan Hanyang Pressure Vessels”).

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Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Preferred Stock, Par Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	190,000,000	190,000,000
Common Stock, Shares, Issued	20,453,500	20,453,500
Common Stock, Shares, Outstanding	20,453,500	20,453,500

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Earnings per share

3 Months Ended

Mar. 31, 2013

Earnings per share [Text Block]

12.

Earnings per share

The basic earnings per share is calculated using the net income attributable to the Company’s common stockholders and the weighted average number of shares outstanding during the reporting periods. During the reporting periods, certain share-based awards were not included in the computation of diluted earnings per share because they were anti-dilutive. Accordingly, the basic and diluted earnings per share are the same.

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Document and Entity Information	3 Months Ended
	Mar. 31, 2013	May 14, 2013
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2013
Trading Symbol	thti
Entity Registrant Name	THT Heat Transfer Technology, Inc.
Entity Central Index Key	0001375686
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		20,453,500
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1

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Segment Information

3 Months Ended

Mar. 31, 2013

Segment Information [Text Block]

13.	Segment information
	The Company is solely engaged in the manufacturing and trading of plate heat exchangers and various related products. Since the nature of the products, their production processes, and their distribution methods are substantially similar, they are considered as a single reportable segment under ASC 280 “Segment Reporting”.
	The Company’s sales revenues by products for the three months ended March 31, 2013 and 2012 were as follows :-

		Three months ended March 31,
		2013	%		2012	%
		(Unaudited)			(Unaudited)
Plate heat exchanger	$	3,775,087	48	$	5,114,689	45
Heat exchange unit		2,256,561	28		3,670,921	32
Air-cooled heat exchanger		701,003	9		482,240	4
Shell-and-tube heat exchanger		42,671	1		837,704	7
Others		1,135,113	14		1,343,871	12
	$	7,910,435	100	$	11,449,425	100

All of the Company’s long-lived assets and revenues classified based on the customers are located in the PRC.

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Consolidated Statements of Income and Comprehensive Income (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Sales revenue	$ 7,910,435	$ 11,449,425
Cost of revenue	(4,919,837)	(6,843,635)
Gross Profit	2,990,598	4,605,790
Operating expenses
Administrative expenses	1,031,114	1,252,829
Research and development expenses	208,786	253,983
Selling expenses	1,042,664	2,254,597
Total Operating Expenses	2,282,564	3,761,409
Income from operations	708,034	844,381
Other Income (Expenses)
Interest income	9,593	8,278
Other income	131,231	229,461
Finance costs	(452,423)	(401,450)
Other expense	(565)	0
Total Other Expense	(312,164)	(163,711)
Income before income taxes and noncontrolling interests	395,870	680,670
Income tax expenses	(60,388)	(75,964)
Net Income	335,482	604,706
Net income attributable to noncontrolling interests	(21,819)	(47,527)
Net income attributable to THT Heat Transfer Technology, Inc. common stockholders	313,663	557,179
Net Income	335,482	604,706
Other Comprehensive Income
Foreign currency translation adjustments	324,844	349,747
Comprehensive Income	660,326	954,453
Comprehensive (income) loss attributable to noncontrolling interests	5,583	(43,960)
Comprehensive income attributable to THT Heat Transfer Technology, Inc. common stockholders	$ 665,909	$ 910,493
Earnings per share attributable to THT Heat Transfer Technology, Inc. common stockholders
Basic and diluted	$ 0.02	$ 0.03
Weighted average number of shares outstanding
Basic and diluted	20,453,500	20,453,500

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Property, plant and equipment, net

3 Months Ended

Mar. 31, 2013

Property, plant and equipment, net [Text Block]

7.	Property, plant and equipment, net
	As of March 31, 2013 and December 31, 2012, property, plant and equipment with net book values $5,124,131 and $5,096,108, respectively, were pledged as collateral under certain loan arrangements (Note 9).

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Income Tax

3 Months Ended

Mar. 31, 2013

Income Tax [Text Block]

6.	Income tax
	The effective tax rate is 15% and 11% for the three months periods ended March 31, 2013 and March 31, 2012, respectively.

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Trade receivables, net (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Accounts Receivable [Table Text Block]

		March 31,			December 31,
		2013			2012
		(Unaudited)
Trade receivables	$	37,777,073		$	41,810,915
Less : Allowance for doubtful accounts		(4,109,629	)		(4,127,640	)
	$	33,667,444		$	37,683,275

Schedule of Allowance for Doubtful Account [Table Text Block]

		Three months ended
		March 31,
		(Unaudited)
		2013			2012
Balance at beginning of period	$	4,127,640		$	2,026,809
Provision for (reversal of) doubtful accounts		(40,660	)		158,200
Translation adjustments		22,650			12,581
Balance at end of period	$	4,109,629		$	2,197,590

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Related Party Transactions

3 Months Ended

Mar. 31, 2013

Related Party Transactions [Text Block]

14.	Related party transactions
	As of March 31, 2013 and December 31, 2012, the Company advanced $12,140 and $159,158 to Mr. Zhao for handling selling and logistic activities for the Company in the ordinary course of business, which was included in "Other receivables, prepayments and deposits, net".

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Long-Term Loan

3 Months Ended

Mar. 31, 2013

Long-Term Loan [Text Block]

10.	Long-term loan
	The loan is borrowed from a financial institution, bearing interest at an annual rate of 15% over the benchmark rate of the PBOC for the three-year long-term loans and guaranteed by a third party.
	The secured bank loans were secured by the following assets of the Company:

		March 31,		December 31,
		2013		2012
		(Unaudited)
Inventories (Note 5)	$	3,506,479	$	3,487,303
	$	3,506,479	$	3,487,303

As a condition the guarantees for the loans the Company paid 2.5% of the loan balance to the third party as compensation for acting as guarantor for the Company and made the counter guarantee deposits to the guarantor of $239,078 and $237,771 as of March 31, 2013 and December 31, 2012, respectively. These deposits will be returned to the Company upon the Company’s settlement of the loans.

During the three months ended March 31, 2013 and 2012, there was no other covenant requirement under the bank loans granted to the Company except that the inventory level cannot be lower than RMB22 million (approximately $3.49 million) and RMB22 million (approximately $3.51 million) during the loan period, respectively.

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Land Use Rights

3 Months Ended

Mar. 31, 2013

Land Use Rights [Text Block]

8.	Land use rights
	As of March 31, 2013 and December 31, 2012, certain land use rights were pledged as collateral under certain loan arrangements (Note 9).
	During the three months ended March 31, 2013 and 2012, amortization amounted to $31,604 and $5,619 respectively.

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Short-term bank loans

3 Months Ended

Mar. 31, 2013

Short-term bank loans [Text Block]

9. Short-term bank loans

		March 31,		December 31,
		2013		2012
		(Unaudited)
Secured bank loans	$	15,619,770	$	15,534,350
Unsecured bank loans		3,187,708		3,170,275
	$	18,807,478	$	18,704,625

All bank loans are repayable within one year and carry annual interest from 100% to 120% of the benchmark interest rate published by the People’s Bank of China (the “PBOC”).

The secured bank loans were secured by the following assets of the Company:

		March 31,		December 31,
		2013		2012
		(Unaudited)
Trade receivables (Note 4)	$	9,563,125	$	9,510,826
Property, plant and equipment (Note 7)		5,124,131		5,096,108
Land use rights (Note 8)		1,460,428		1,452,441
	$	16,147,684	$	16,059,375

The unsecured bank loans as of March 31, 2013 and December 31, 2012 were guaranteed by Mr. Zhao and certain third parties who received 2% to 2.5% of the loan balance as compensation for acting as guarantors for the Company. The Company also made the counter guarantee deposits to the guarantors of $0 and $237,771 as of March 31, 2013 and December 31, 2012, respectively.

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Common stock warrants

3 Months Ended

Mar. 31, 2013

Common stock warrants [Text Block]

11.	Common stock warrants
	As of March 31, 2013 and December 31, 2012, there were 222,675 warrants with an exercise price of $3.84 per share outstanding. No warrants were issued or cancelled during the three months ended March 31, 2013.

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Short-term bank loans (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Short-term Bank Loans 1	100.00%
Short-term Bank Loans 2	120.00%
Short-term Bank Loans 3	2.00%
Short-term Bank Loans 4	2.50%
Short-term Bank Loans 5	$ 0
Short-term Bank Loans 6	$ 237,771

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2013

Basis of presentation and consolidation [Policy Text Block]

Basis of presentation and consolidation

The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive consolidated financial statements and should be read in conjunction with the Company’s consolidated financial statements and accompanying notes thereto for the year ended December 31, 2012 filed with the SEC in the Company’s Form 10-K on April 1, 2013.

In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the three-month period have been made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.

The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter- company balances and transactions have been eliminated on consolidation.

Fair value of financial instruments [Policy Text Block]

Fair value of financial instruments

Accounting Standards Codification (“ASC”) Topic 820 requires the disclosure of the estimated fair value of financial instruments including those financial instruments for which fair value option was not elected. As of March 31, 2013 and December 31, 2012, the carrying amounts of the Company’s financial assets and liabilities approximated their fair values due to short maturities or the applicable interest rates approximated the current market rates.

Noncontrolling interests [Policy Text Block]

Noncontrolling interests

As at March 31, 2013, non-controlling interest on the consolidated balance sheets resulted from the consolidation of 75% owned subsidiaries, Beijing Juyuan.

The schedule below illustrates the movements in the non-controlling interests:

		Three months ended
		March 31
		(Unaudited)
		2013			2012
Balance at beginning of period	$	(578,624	)	$	(565,365	)
Net income attributable to non-controlling interests		21,819			47,527
Foreign currency translation adjustments		(27,402	)		(3,567	)
Balance at end of period	$	(584,207	)	$	(521,405	)

Reclassifications [Policy Text Block]

Reclassifications

Certain amounts in the consolidated financial statements for the prior period have been reclassified to conform to the presentation of the current period for the comparative purposes.

Recently issued accounting pronouncements [Policy Text Block]

Recently issued accounting pronouncements

In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income” (“ASU 2013-02”). Under ASU 2013-02, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in the financial statements. The amendments in this update will be effective for fiscal years and interim periods within those years beginning after December 15, 2012. The Company adopted this pronouncement effective January 1, 2013 and the adoption did not have a material impact on the Company’s consolidated financial statements.

In March 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830)—Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity”. These amendments provide guidance on releasing Cumulative Translation Adjustments when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. In addition, these amendments provide guidance on the release of CTA in partial sales of equity method investments and in step acquisitions. For public entities, the amendments are effective on a prospective basis for fiscal years and interim reporting periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. Prior periods should not be adjusted. The Company does not expect the adoption to have a significant impact on its consolidated financial statements.

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Long-Term Loan (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Assets Used to Secure Long-Term Loans [Table Text Block]

		March 31,		December 31,
		2013		2012
		(Unaudited)
Inventories (Note 5)	$	3,506,479	$	3,487,303
	$	3,506,479	$	3,487,303

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Schedule of Allowance for Doubtful Account (Details) (USD $)	3 Months Ended
	Mar. 31, 2013
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 1	$ 4,127,640
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 2	2,026,809
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 3	(40,660)
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 4	158,200
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 5	22,650
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 6	12,581
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 7	4,109,629
Trade Receivables, Net Schedule Of Allowance For Doubtful Account 8	$ 2,197,590

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Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 335,482	$ 604,706
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	296,595	303,818
Allowance for doubtful accounts	(40,660)	158,200
Changes in operating assets and liabilities:
Trade receivables	4,497,607	(256,204)
Bills receivable	(1,693,125)	(187,499)
Other receivables, prepayments and deposits	(2,799,274)	(2,308,416)
Inventories	(2,967,206)	525,748
Retention receivable	244,176	(23,639)
Trade payables	(576,296)	(2,697,582)
Other payables and accrued expenses	173,486	(1,242,193)
Tax payable	(91,445)	(48,693)
NET CASH USED IN OPERATING ACTIVITIES	(2,620,660)	(5,171,754)
CASH FLOWS FROM INVESTING ACTIVITIES
Change in restricted cash	244,806	(341,644)
Payments to acquire property, plant and equipment	(4,992)	(18,748)
NET CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES	239,814	(360,392)
Effect of foreign currency translation on cash and cash equivalents	57,585	55,243
NET DECREASE IN CASH AND CASH EQUIVALENTS	(2,323,261)	(5,476,903)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	10,703,199	7,340,068
CASH AND CASH EQUIVALENTS AT END OF PERIOD	8,379,938	1,863,165
Supplementary Disclosures for Cash Flow Information:
Interest paid	354,332	396,049
Income taxes paid	$ 138,804	$ 124,657

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Inventories, net

3 Months Ended

Mar. 31, 2013

Inventories, net [Text Block]

5. Inventories, net

		March 31,			December 31,
		2013			2012
		(Unaudited)
Raw materials	$	6,965,181		$	4,434,338
Work-in-progress		27,250,916			26,912,452
Finished goods		841,574			564,755
		35,057,671			31,911,545
Allowance for obsolete inventories		(19,447	)		(19,341	)
	$	35,038,224		$	31,892,204

No further allowance for obsolete inventories was recognized during the three months ended March 31, 2013 and 2012.

As of March 31, 2013 and December 31, 2012, the inventory of $3.5 million was pledged under certain loan agreements (see Note 10).

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Segment Information (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Segment Reporting Information, by Products [Table Text Block]

		Three months ended March 31,
		2013	%		2012	%
		(Unaudited)			(Unaudited)
Plate heat exchanger	$	3,775,087	48	$	5,114,689	45
Heat exchange unit		2,256,561	28		3,670,921	32
Air-cooled heat exchanger		701,003	9		482,240	4
Shell-and-tube heat exchanger		42,671	1		837,704	7
Others		1,135,113	14		1,343,871	12
	$	7,910,435	100	$	11,449,425	100

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Acquisition of noncontrolling interests (Narrative) (Details)	3 Months Ended
	Mar. 31, 2013 USD ($)	Mar. 31, 2013 CNY
Acquisition Of Noncontrolling Interests 1	25.00%	25.00%
Acquisition Of Noncontrolling Interests 2	25.00%	25.00%
Acquisition Of Noncontrolling Interests 3		2,500,000
Acquisition Of Noncontrolling Interests 4	$ 398,463
Acquisition Of Noncontrolling Interests 5	25.00%	25.00%
Acquisition Of Noncontrolling Interests 6	25.00%	25.00%

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Acquisition of noncontrolling interests

3 Months Ended

Mar. 31, 2013

Acquisition of noncontrolling interests [Text Block]

15.

Acquisition of noncontrolling interests

Siping Juyuan entered into a share transfer agreement dated May 10, 2012 (the "Share Transfer Agreement") relating to the acquisition of the remaining 25% equity ownership interest in Beijing Juyuan from Hanyang International GmbH (“Hanyang”). The purchase price for this 25% equity interest is RMB2.5 million (approximately $398,463). The purchase price is expected to be paid by the Company in one lump sum on or before April 30, 2013. Under applicable PRC law, the acquisition of the 25% equity interest in Beijing Juyuan must be approved by appropriate foreign investment approval authority, and then registered with a competent branch of the State Administration of Industry and Commerce. Failure to obtain these necessary approvals or to pay the purchase price may result in the unwinding of the acquisition. The Company obtained all the required PRC regulatory approvals and registrations by March 31, 2013. However, due to the system failure of the Administration of Exchange Control, the Company was unable to pay for the acquisition of 25% equity interest on time and expects to complete the acquisition on or before May 31, 2013.