Baoshinn Corp (OTC BB:BHNN)

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Monday, May 14, 2012

BAOSHINN CORPORATION

CONSOLIDATED STATEMENT OF INCOME

(Stated in US Dollars)


	*Three Months Ended* *31 Mar, 2012*	*Three Months Ended* *31 Mar, 2011*
	$	$

Retail and Corporate revenue	9,709,094	8,501,752
Commission from travel booking services	13,960	32,218
Incentive commissions	111,372	74,303

Net sales	9,834,426	8,608,273
Cost of sales	(9,531,714)	(8,259,363)

Gross profit	302,712	348,910
Other operating income – Note 5	6,091	9,302
Depreciation	(5,218)	(5,438)
Administrative and other operating expenses	(354,720)	(321,771)

(Loss)/Income from operations	(51,135)	31,003
Other non-operating income - Note 6	973	1,486
Interest expenses – Note 7	(15)	-

(Loss)/Income before income taxes	(50,177)	32,489
Income taxes - Note 8	-	-

Net (Loss)/Income	(50,177)	32,489
Non-controlling interest	377	(4,028)

Net Income (Loss) attributable to the Company	(49,800)	28,461

Earnings per share of common stock – Note 4
- Basic	(2.33) cents	1.33 cents*
- Diluted	(2.33) cents	1.33 cents*

Weighted average number of common stock – Note 4
- Basic	2,140,000	2,140,000*
- Diluted	2,140,000	2,140,000*

See notes to consolidated financial statements

*As the number of common shares outstanding decreased as a result of a reverse stock split during year ended December 31, 2011, the computations of basic and diluted EPS shall be adjusted retroactively for all periods presented to reflect that change in capital structure.

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Friday, November 18, 2011

Baoshinn CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Stated in US Dollars)


	*For 3 Months* *Ended September 30* *Unaudited*		*For 9 months* *Ended September 30* *Unaudited*
	*2011*	*2010*	*2011*	*2010*
	$	$	$	$
Retail and Corporate revenue	11,001,016	8,451,190	29,565,990	22,080,447
Commission from travel booking services	29,692	25,550	179,512	82,439
Incentive commissions	148,792	83,025	247,114	236,637

Net sales	11,179,500	8,559,765	29,992,616	22,399,523
Cost of sales	(10,817,435)	(8,233,711)	(28,909,195)	(21,385,054)

Gross profit	362,065	326,054	1,083,420	1,014,469
Other operating income – Note 5	9,555	9,372	28,087	25,659
Depreciation	(4,619)	(4,787)	(15,225)	(16,220)
Administrative and other operating expenses	(305,466)	(312,731)	(942,864)	(926,113)

Profit/(Loss) from operations	61,535	17,908	153,419	97,795
Other non-operating (income)/expenses - Note 6	1,400	(735)	5,190	(445)
Interest expenses – Note 7	(4)	-	(4)	(141)

Profit before income taxes	62,931	17,173	158,605	97,209
Income taxes - Note 8	-	-	-	-

Net Profit	62,931	17,173	158,605	97,209
Non-controlling interest	(9,881)	(15,716)	(24,179)	(51,636)

Net Profit attributable to the Company	53,050	1,457	134,426	45,573

Earning per share of common stock – Note 4
- Basic	0.25 cents	0.007 cents	0.63 cents	0.213 cents
- Diluted	0.25 cents	0.007 cents	0.62 cents	0.210 cents

Weighted average number of common stock – Note 4
- Basic	21,400,000	21,400,000	21,400,000	21,400,000
- Diluted	21,400,000	21,780,000	21,507,582	21,657,670

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Sunday, April 3, 2011

BAOSHINN CORPORATION

CONSOLIDATED STATEMENT OF OPERATIONS

(Stated in US Dollars)


	*For Year Ended* *31 Dec, 2010*	*For Year Ended* *31 Dec, 2009*	*For 9 Months Ended* *31 Dec, 2008*
	$	$	$

Retail and Corporate revenue	30,161,944	23,912,150	24,704,983
Commission from travel booking services	117,873	156,544	113,117
Incentive commissions	320,610	239,045	304,787

Net sales	30,600,427	24,307,739	25,122,887
Cost of sales	(29,252,793)	(23,008,756)	(24,076,245)

Gross profit	1,347,634	1,298,983	1,046,642
Other operating income – Note 5	59,226	54,984	57,725
Depreciation	(21,601)	(27,821)	(28,866)
Administrative and other operating expenses	(1,285,542)	(1,298,752)	(1,224,028)

Income/(Loss) from operations	99,717	27,394	(148,527)
Other non-operating income - Note 6	4,917	1,149	10,266
Interest expenses – Note 7	(736)	(1,230)	(8,083)

Income/(Loss) before income taxes	103,898	27,313	(146,344)
Income taxes - Note 8	(24,433)	(6,176)	-

Net Income/(Loss)	79,465	21,137	(146,344)
Non-controlling interest	(53,711)	(15,978)	2,171

Net Income/(Loss)	25,754	5,159	(144,173)

Earning/(Loss) per share of common stock – Note 4
- Basic	0.12 cents	0.02 cents	(0.67) cents
- Diluted	0.12 cents	0.02 cents	(0.67) cents

Weighted average number of common stock – Note 4
- Basic	21,400,000	21,400,000	21,400,000
- Diluted	21,688,504	21,623,860	21,400,000

GeoTeam Note: Fourth Quarter 2010 vs. 2009 EPS was $(0.09) vs. nil.

For the year ended December 31, 2010, the Company has experienced an increase in sales revenues, and the Company was recognized by Eva Airline as its top selling agent in Hong Kong. Eva Airlines operates both short haul routes within South East Asia and long haul routes including North America and Europe. The company has also been appointed as a first tier agent for two additional airlines, i.e., HongKong Airlines & HongKong Express. Hong Kong Airlines mainly operates flights originating from Hong Kong to destinations in Asian cities, including Bangkok, Kuala Lumpur, Manila, and major cities in Japan. HongKong express mainly operates flights originating from Hong Kong to mainland China, second tier cities, including Changsha, Fuzhou, Hangzhou, Hefei, Guiyang etc.

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