PR Newswire
HANZHONG, China, Feb. 13, 2017
HANZHONG, China, Feb. 13, 2017 /PRNewswire/ -- China HGS Real Estate Inc. (NASDAQ: HGSH) ("China HGS" or the "Company"), a leading regional real estate developer headquartered in Hanzhong City, Shaanxi Province, China, today reported its financial results for the first quarter of fiscal 2017 ended December 31, 2016 with the U.S. Securities and Exchange Commission. An electronic copy of the quarterly report on Form 10-Q can be accessed on the SEC's website at www.sec.gov.
Highlights for the quarter
Safe Harbor Statement
This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All "forward-looking statements" relating to the business of China HGS Real Estate Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the uncertain market for the Company's business, macroeconomic, technological, regulatory, or other factors affecting the profitability of real estate business; and other risks related to the Company's business and risks related to operating in China. Please refer to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2016, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
About China HGS Real Estate, Inc.
China HGS Real Estate, Inc. (NASDAQ: HGSH), founded in 1995 and headquartered in Hanzhong City, Shaanxi Province, is a leading real estate developer in the region and holds the national grade I real estate qualification. The Company focuses on the development of high-rise, sub-high-rise residential buildings and multi-building apartment complexes in China's Tier 3 and Tier 4 cities and counties with rapidly growing populations driven by increased urbanization. The Company provides affordable housing with popular and modern designs to meet the needs of multiple buyer groups. The Company's development activity spans a range of services, including land acquisition, project planning, design management, construction management, sales and marketing, and property management. For further information about China HGS, please go to www.chinahgs.com.
Company contact:
Randy Xiong, President of Capital Market
China Phone: (86) 091-62622612
Email: randy.xiong@chinahgs.com
CHINA HGS REAL ESTATE, INC. | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
(Unaudited) | |||||||
| December 31, | | September 30, | ||||
| 2016 | | 2016 | ||||
ASSETS | | | | | | ||
Current assets: | | | | | | ||
Cash | $ | 10,249,072 | | $ | 6,401,237 | ||
Restricted cash | | 1,116,025 | | | 1,493,537 | ||
Cost and earnings in excess of billings | | 13,437,593 | | | 11,891,230 | ||
Real estate property development completed | | 101,761,829 | | | 113,185,929 | ||
Real estate property under development | | 84,609,389 | | | - | ||
Other current assets | | 2,643,599 | | | 2,722,036 | ||
Total current assets | | 213,817,507 | | | 135,693,969 | ||
Property, plant and equipment, net | | 745,600 | | | 792,650 | ||
Real estate property development completed, net of current portion | | 1,591,534 | | | 1,657,055 | ||
Security deposits | | 8,111,436 | | | 7,940,137 | ||
Real estate property under development, net of current portion | | 136,206,176 | | | 207,384,015 | ||
Due from local government for real estate property development | | 2,805,493 | | | 2,920,990 | ||
Total Assets | $ | 363,277,746 | | $ | 356,388,816 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | | | | | | ||
Current liabilities: | | | | | | ||
Other loans | $ | 11,767,078 | | $ | 6,125,753 | ||
Accounts payable | | 28,098,980 | | | 30,574,497 | ||
Other payables | | 4,987,591 | | | 5,200,807 | ||
Construction deposits | | 1,417,092 | | | 1,911,158 | ||
Billings in excess of cost and earnings | | 2,007,849 | | | 2,110,808 | ||
Customer deposits | | 16,747,747 | | | 16,790,208 | ||
Shareholder loan | | 2,673,956 | | | 2,709,523 | ||
Accrued expenses | | 2,982,946 | | | 3,205,099 | ||
Taxes payable | | 15,365,447 | | | 15,843,815 | ||
Total current liabilities | | 86,048,686 | | | 84,471,668 | ||
Deferred tax liabilities | | 4,905,919 Werbung Mehr Nachrichten zur China HGS Real Estate Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News |