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As of 8:10 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

china hgs real estate inc (HGSH) Key Developments

China HGS Real Estate Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2014

China HGS Real Estate Inc. announced unaudited consolidated earnings results for the second quarter and six months ended March 31, 2014. For the quarter, the company reported real estate sales of $49,907,770 compared with $19,382,960 for the same period a year ago. Operating income was $14,667,647 compared with $6,140,765 for the same period a year ago. Income before income taxes was $14,543,682 compared with $6,122,672 for the same period a year ago. Net income was $13,448,579 or $0.30 per basic and diluted share compared with $5,766,720 or $0.13 per basic and diluted share for the same period a year ago. The increased net income in this quarter compared to the same quarter of last year was primarily due to the significantly increased revenue. For the six months, the company reported real estate sales of $64,048,333 compared with $30,386,375 for the same period a year ago. Operating income was $18,061,102 compared with $11,881,154 for the same period a year ago. Income before income taxes was $17,923,596 compared with $11,852,913 for the same period a year ago. Net income was $16,505,696 or $0.37 per basic and diluted share compared with $11,275,797 or $0.25 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $18,799,939 compared with $400,712 for the same period a year ago.

China HGS Real Estate Inc. Reports Un-Audited Consolidated Earnings Results for the First Quarter Ended December 31, 2013

China HGS Real Estate Inc. reported un-audited consolidated earnings results for the first quarter ended December 31, 2013. For the quarter, the company reported total revenues of approximately $14.1 million, an increase of 28.5% from approximately $11.0 million in the same quarter of fiscal 2013. Net income totaled approximately $3.1 million, a decrease of approximately $2.4 million from the net income of approximately $5.5 million in the same period of last year. The decreased profit margin in this quarter compared to the same quarter of last year was primarily due to the mix of sold properties. Basic and diluted net earnings per share (‘EPS’) attributable to shareholders for the first quarter of fiscal 2014 were $0.07, compared to $0.12 for the same quarter last year. The company reported operating income of $3.4 million compared to $5.7 million and income before income taxes of $3.4 million compared to $5.7 million for the last year. Net cash used in operating activities was $15,149,200 compared to $585,177 a year ago.

China HGS Real Estate Inc. Reports Consolidated Earnings Results for the Year Ended September 30, 2013

China HGS Real Estate Inc. reported consolidated earnings results for the year ended September 30, 2013. For the year, the company reported operating income of $22,277,690, income before income taxes of $22,189,783, net income of $20,791,565 or $0.46 diluted per share on real estate sales of $67,809,073 against operating income of $5,520,119, income before income taxes of $5,459,170, net income of $20,791,565 or $0.11 diluted per share on real estate sales of $18,856,978 for the same period a year ago. Net cash provided by operating activities of $12,018,488 against net cash used in operating activities of $7,838,690 for the same period a year ago.

China HGS Real Estate Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2013

China HGS Real Estate Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2013. For the quarter, the company reported operating income of $2,408,248, income before income taxes of $2,389,829, net income of $2,262,545 or $0.05 diluted per share on real estate sales of $7,174,974 against operating income of $1,408,062, income before income taxes of $1,404,588, net income of $1,333,329 or $0.03 diluted per share on real estate sales of $4,882,304 for the same period a year ago. The increase of approximately $0.9 million in net income was primarily due to the increases in revenue and gross profit. For the nine months, the company reported operating income of $14,289,402, income before income taxes of $14,242,742, net income of $13,538,342 or $0.30 diluted per share on real estate sales of $37,561,349 against operating income of $3,502,258, income before income taxes of $3,476,584, net income of $3,309,042 or $0.07 diluted per share on real estate sales of $10,262,731 for the same period a year ago. Net cash provided by operating activities of $1,734,777 against net cash used in operating activities of $7,119,346 for the same period a year ago.

China HGS Real Estate Inc., Annual General Meeting, Sep 10, 2013

China HGS Real Estate Inc., Annual General Meeting, Sep 10, 2013., at 10:00 China Standard Time. Location: 6 Xinghan Road, 19th Floor. Agenda: To elect Xiaojun Zhu, Shenghui Luo, Christy Young Shue, John Chen, and Yuankai Wen as directors; to ratify the appointment of Friedman LLP as independent registered public accountants for the fiscal year ending September 30, 2013; and to transact such other business that may properly come before the meeting or at any adjournment or postponement thereof.

 

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