china hgs real estate inc (HGSH) Key Developments
China HGS Real Estate Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended March 31, 2015
May 11 15
China HGS Real Estate Inc. reported unaudited consolidated financial results for the second quarter and six months ended March 31, 2015. Total revenues for the second quarter of fiscal 2015 were approximately $23.6 million, a decrease of 53% from approximately $49.9 million in the same quarter of fiscal 2014. The year-over-year decrease of revenue was primarily due to limited inventory on completed projects. Net income totaled approximately $9.3 million, a decrease of approximately $4.2 million from the net income of approximately $13.4 million in the same period of last year. The decreased net income in this quarter compared to the same quarter of last year was primarily due to less contracted sales achieved in the current quarter. Basic and diluted net earnings per share attributable to shareholders for the second quarter of fiscal 2015 were $0.21, decreased by 31% from $0.30 for the same quarter of last year. Operating income was $9,850,439 compared to $14,557,336 a year ago. Income before income taxes was $9,835,615 compared to $14,543,682 a year ago.
For the six months ended March 31, 2015, the company achieved a positive operating cash flow of approximately $4.5 million, compared to negative operating cash flow of approximately $18.8 million in the same period of last year. Real estate sales were $34,124,429 compared to $64,048,333 a year ago. Operating income was $11,728,426 compared to $17,950,791 a year ago. Income before income taxes was $11,696,666 compared to $17,923,596 a year ago. Net income was $10,896,091 or $0.24 per diluted share compared to $16,505,696 or $0.37 per diluted share a year ago.
China HGS Real Estate Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2014
Feb 6 15
China HGS Real Estate Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported real estate sales of $10,565,687 against $14,140,563 a year ago. Operating income was $1,877,987 against $3,393,455 a year ago. Income before income taxes was $1,861,051 against $3,379,914 a year ago. Net income was $1,625,990 against $3,057,117 a year ago. Basic and diluted earnings per share was $0.04 against $0.07 a year ago. Net cash used in operating activities was $6,651,925 against $15,149,200 a year ago.
China HGS Real Estate Inc. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Dec 12 14
China HGS Real Estate Inc. announced consolidated unaudited earnings results for the year ended September 30, 2014. For the year, the company reported real estate sales of $124,295,928 against $67,809,073 a year ago. Operating income was $35,313,168 against $22,277,690 a year ago. Income before income taxes was $35,255,716 against $22,189,783 a year ago. Net income was $32,444,757 against $20,791,565 a year ago. Diluted earnings per share was $0.72 against $0.46 a year ago. Net cash used in operating activities was $26,723,054 against $11,162,107 a year ago.
China HGS Real Estate Inc., Annual General Meeting, Sep 29, 2014
Sep 3 14
China HGS Real Estate Inc., Annual General Meeting, Sep 29, 2014., at 10:00 China Standard Time. Location: corporate offices located at 6 Xinghan Road. Agenda: To consider the election of five directors; to ratify the appointment of Friedman LLP as the independent registered public accountants for the fiscal year ending September 30, 2014; to conduct an advisory vote to approve the compensation paid to named executive officers of the company; and to transact such other business that may properly come before the meeting or at any adjournment thereof.
China HGS Signs Second Shanty Area Rebuilding Project Agreement
Sep 2 14
China HGS Real Estate Inc. announced that the company has signed its second shanty area rebuilding framework agreement with the Hantai District government of Hanzhong City. Pursuant to the agreement, the Company will be engaged in development of shanty areas surrounding the Lianhuachi Area located in the Hantai District, Hanzhong City. The estimated investment in the project is approximately USD 750 million. The local government will coordinate with the Company to implement the reform plans. The Company will closely work with local government on the detail implementation plan and manage the project progress.