China Financial Results 13/12/13 – China HGS Real Estate

Highlights for the Fiscal 2013
  • Total revenues for the fiscal 2013 were approximately $67.8 million, an increase of approximately 260% from approximately $18.9 million in fiscal  2012.
  • The Company adopted Percentage of Completion method to recognize real estate sales from long term real estate development projects, total revenue recognized from percentage of completion method was approximately  $27.5 million, which accounted for 40.6% of total revenue in fiscal 2013.
  • Net income for the fiscal 2013 totaled approximately $20.8 million, an increase of approximately 300% from the net income of approximately $5.2 million in fiscal 2012.
  • Basic and diluted net earnings per share (“EPS”) attributable to shareholders for the fiscal 2013 were $0.46, compared to $0.11 for the fiscal 2012.

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