China Infrastructure Constructi (OTC:CHNC)

HOUSTON, TX, Oct. 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – China Infrastructure Construction Corp. (CHNC) www.chnc-hdh.com is pleased to announce its acquisition of Precision Research Institute, LLC (PRI).

PRI is a Multi-Therapeutic, Dedicated Research Unit based in Houston, Texas. PRI brings multi-million-dollar contracts with the largest pharmaceutical companies in the world--like Abbvie, Samumed, Gilead, Intercept, Shire Pharmaceuticals, and more. President & CEO Elizabeth Hernandez says, “This acquisition of PRI, our second in the past year, now puts CHNC in the unique position of conducting its own clinical research trials. Which holds an important value the to the future of Medicine. CHNC is now in position to be the leader in the arena of Medical Clinical Trials. CHNC is in the process of becoming its very own Contract Research Organization (CRO) in the Industry. The looking forward to developing the future of Pharmaceutical, Biotechnology, and Pharmacovigilance Clinical Trials. PRI has Phase I, II, and III clinical trial capabilities--a rare feat. PRI’s facility is 4500 sq. ft. and currently has ongoing Phase II, III clinical trials, along with observational studies. Their fifteen active multi-million-dollar contracts is a great head start for CHNC. We look forward to expanding quickly!”

The acquisition, which has been approved by the board of directors, is subject to certain closing conditions, including OTC approval, approval by the stockholders of China Infrastructure Construction Corp. (CHNC), minimum cash balance of CHNC at closing, and other customary closing conditions.

HOUSTON, TX, March 06, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- China Infrastructure Construction Corp. (OTC:PK: CHNC) https://www.chnc-hdh.com announces it is exploring an acquisition opportunity in the stem cell space.

This opportunity came to CHNC due to the fact that it has opened its Houston Stem Cell Clinic, Inc., which is a wholly owned Subsidiary of China Infrastructure Construction Corp.

Houston Stem Cell Clinic Inc will offer Stem Cell therapy to patients of Hippocrates Direct Health Care, Inc. and CHNC. L. Natalie Carroll, M.D. will administer and treat Stem Cell patients.  Dr. Carroll is an OB/GYN Physician on staff at the clinic. Elizabeth Hernandez, President and CEO of CHNC, said, “We believe our addition of Stem Cell Therapy to our clinic will bring the best care, modern technology and opportunities to CHNC as well to a large segment of Houston and dramatically increase our number of patients and increase our earned revenues.”

Hippocrates Direct Healthcare Inc, is a wholly owned subsidiary of CHNC, maintains a medical office and also does clinical research for pharmaceutical companies. Hippocrates is now moving its membership-based model into a unique surgical sub-specialty of medicine.  As a Houston-based medical office we feel we will be well positioned to bring STEM CELL medicine to Houston and continue our march towards bringing our patients quality and value in all aspects of medicine,” said President & CEO Elizabeth Hernandez.

Stem-cell therapy is the use of stem cells to treat or prevent a disease or condition. Bone marrow transplant is the most widely used stem-cell therapy, but some therapies derived from umbilical cord blood are also in use.

HOUSTON, TX, Feb. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- China Infrastructure Construction Corp. (OTC:PK: CHNC) https://www.chnc-hdh.com announces it has opened HOUSTON STEM CELLS CLINIC INC. as a wholly owned subsidiary of China Infrastructure Construction Corp.

Houston Stem Cell Clinic Inc will offer Stem Cell therapy to patients of Hippocrates Direct Health Care, Inc. and CHNC. L. Natalie Carroll, M.D. will administer and treat Stem Cell patients.  Dr. Carroll is an OB/GYN Physician on staff at the clinic. Elizabeth Hernandez, President and CEO of CHNC, said, “We believe our addition of Stem Cell Therapy to our clinic will bring the best care and modern technology to a large segment of Houston and dramatically increase our number of patients and increase our earned revenues.”

Hippocrates Direct Healthcare Inc, is a wholly owned subsidiary of CHNC, maintains a medical office and also does clinical research for pharmaceutical companies.  Hippocrates is now moving its membership-based model into a unique surgical subspecialty of medicine.   As a Houston-based medical office we feel we will be well positioned to bring STEM CELL medicine to Houston and continue our march towards bringing our patients quality and value in all aspects of medicine,” said President & CEO Elizabeth Hernandez.

Stem-cell therapy is the use of stem cells to treat or prevent a disease or condition. Bone marrow transplant is the most widely used stem-cell therapy, but some therapies derived from umbilical cord blood are also in use.

HOUSTON, TX, Feb. 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- China Infrastructure Construction Corp. (OTC:PK: CHNC) https://www.chnc-hdh.com announces it has commenced due diligence of a new business opportunity in STEM CELL Medicine.

“Hippocrates Direct Healthcare Inc, a wholly owned subsidiary of CHNC, maintains a medical office and also does clinical research for pharmaceutical companies. Hippocrates is now moving its membership-based model into a unique surgical subspecialty of medicine. As a Houston-based medical office we feel we will be well positioned to bring STEM CELL medicine to Houston and continue our march towards bringing our patients quality and value in all aspects of medicine,” said President & CEO Elizabeth Hernandez.

Stem-cell therapy is the use of stem cells to treat or prevent a disease or condition. Bone marrow transplant is the most widely used stem-cell therapy, but some therapies derived from umbilical cord blood are also in use.

Houston, TX, July 26, 2018 (GLOBE NEWSWIRE) -- China Infrastructure Construction Corp. now (CHNC) www.thechnc.com announces that it has qualified as Current Information by making disclosures available directly to investors on OTC Markets Group www.otcmarkets.com.

OTC Markets Group (previously known as "Pink Sheets") is an American financial market providing price and liquidity information for almost 10,000 over-the-counter (OTC) securities. OTC Pink provides for transparent trading and best execution. OTC-traded securities are organized to inform investors of opportunities and risks.

Elizabeth Hernández, President & CEO, stated: “We have published the disclosures, financial reports, and an OTC attorney letter fulfilling OTC Markets standards.  The full disclosures are shown on OTC Markets-CHNC and were reviewed and approved by OTC Markets Group Issuer Compliance. We are extremely excited to be OTC PINK Current now as this demonstrates our efforts to provide investor transparency and increase shareholder value. We would like to thank our shareholders for their patience in supporting our vision."

Houston, TX, July 24, 2018 (GLOBE NEWSWIRE) -- China Infrastructure Construction Corp. (OTC: CHNC) www.thechnc.com announces that it has acquired Houston, TX-based Hippocrates Direct Healthcare, Inc. as a wholly-owned subsidiary, through a reverse merger. We are also very excited to announce further that Elizabeth Hernández has accepted the position as President and CEO.

Elizabeth Hernández said: “I am ready for the challenges of running a multi-million dollar company. It is time to bring back direct access to your clinician. Technological advancements in point of care testing, and communications coupled with old-fashioned individual attention will be the solution to uncontrolled medical costs and poor quality healthcare. Direct access to physicians through text, talk, email, and in-person encounters will solve most of the problems plaguing America.”

The company will own and staff individual clinical facilities initially in the Houston Metro area and will expand nationwide.

Third Quarter Results:

• Revenues for the third quarter of fiscal year 2011 increased by 2.64% year-over-year to $20.78 million, up from $20.25 million in the third quarter of fiscal 2010.
• Net loss attributable to CHNC for the third quarter was $1.67 million, compared with the net income of $3.23 million for the third quarter of fiscal 2010.
• Gross margin for the third quarter increased to 41.01% based on gross profit of $8.52 million, compared with a18.66% margin in the same period last year.
• Operating loss and operating margin for the third quarter were $1.56 million and -7.51%, respectively, compared to the operating income of $3.01 million for the third quarter of fiscal 2010.
• Earnings per diluted share were $ -0.13 for the quarter, compared with $0.28 reported in the same period a year ago.

Mr. Yang Rong, Chairman and CEO of CHNC, stated, "We needed additional time to re-examine our accounts receivable and as a result were unable to file our quarterly report in a timely manner. After careful consideration, we decided to make the provision for bad debt related to our accounts receivable in the amount of approximately $8.0 million. Notwithstanding that we do intend to collect the respective accounts receivable, we believe it is our obligation to make this provision in our financial statements. We plan to remedy the timely collection of our accounts receivable by increasing our focus on contractual obligations reflecting shorter payment terms and by stepping up our efforts in collecting accounts receivable."

First Quarter Fiscal Year 2011 Highlights:

• Net revenue for the three months ended August 31, 2010 was $21.19 million as compared to $12.26 million for the same period last year, an increase of $8.93 million, or approximately 72.88%.

The significant increase in net revenue is mainly attributable to good execution of the Company's geographic expansion strategy. Supported by new production plants in Xi'an and Shidu, sales volume of concrete products increased approximately 125.09% for the quarter ended August 31, 2010 as compared to the same period last year. The increase in net revenue also resulted from technical solution services provided to a Tianjin concrete producer since late March 2010 with approximately $1.22 million in sales recorded during this quarter.

• Operating income for the three months ended August 31, 2010 was $4.69 million, an increase of $2.67 million or approximately 132.50%, as compared to $2.02 millionfor the same period last year. Net income was $3.98 millionfor the three months ended August 31, 2010, an increase of $2.07 million or approximately 108.54%, as compared to $1.91 millionfor the same period last year.

• Net income per share for the first quarter of the fiscal year 2011 was $0.31 (basic and diluted, based on 12.93 million basic and diluted weighted average shares outstanding), compared to net income per share of $1.25 for the same period of the last year (basic and diluted, based on 1.53 million weighted average shares outstanding).

Business Outlook

Mr. Yang commented, "Looking forward, we will continue our geographic expansion and development projects in our target markets where we see the greatest potential. We will also continue to work on improving operating profitability. We expect that the successful execution of these strategies will generate additional revenue and earnings growth." 

• Net revenue for the fourth quarter ended May 31, 2010 was $22.34 million as compared to $12.41 million for the same period last year, an increase of 80.05%.

The robust increase in net revenue is mainly attributable to good execution of the Company's geographic expansion strategy. The new factories in Xi'an and Shidu started operations during the quarter to meet rising market demand. As a result, the sales volume of concrete products increased approximately 28.61% for the fiscal year ended May 31, 2010 as compared to the same period last year. The increase in net revenue also resulted from technical solution services provided to a Tianjin concrete producer from late March with approximately $1.26 million in sales recorded during the quarter. The Company also leased stone and sand production equipment from a supplier in Hebei to secure raw materials for its Beijing facility. All the sand and stone from the leased equipment has been exclusively provided to the Company since April. Not only did this arrangement provide the necessary raw materials for the Beijing facility during the quarter but it also contributed approximately $0.90 million to revenues for the quarter.

• Operating income for the three months ended May 31, 2010 totaled $5.98 million, an increase of $3.67 million or approximately 159.02%, as compared to $2.31 million for the three months ended May 31, 2009. The increase was mainly due to increased net revenue.
  
• GAAP net income for the three months ended May 31, 2010 was $5.90 million, an increase of $3.71 million or approximately 169.39%, as compared to $2.19 million for the three months ended May 31, 2009. The increase was mainly a result of increased net revenue and improved operational efficiency.
  
• Net income per share for the fourth quarter of the fiscal year 2010 was $0.46 (basic and diluted, based on 12.77 million and 12.80 million basic and diluted weighted average shares outstanding), compared to net income per share of $1.43 for the same period of the last year (basic and diluted, based on 1.53 million weighted average shares outstanding).

Non-GAAP EPS was $0.47 vs. $1.43

Business Outlook

    Mr. Yang concluded, "As we enter fiscal year 2011, our focus remains on strong execution of the strategies that have started to serve us well, mainly geographic expansion through new facilities or M&A opportunities and vertical integration of product lines into raw materials to secure supplies and lower  production costs. We are fully aware of the concerns about a potential real estate bubble in China but our recent strategic moves have strongly aligned our business with China's massive investments in infrastructure. This is a must for the country given the rapid pace of urbanization, the acceleration of industrialization and the need to rebalance economic growth geographically. According to The National Development and Reform Commission, China planned to invest in excess of $100 billion in the year 2010 spread out among 23 infrastructure projects in the western regions. It is estimated that by 2011, China will spend about $725 billion dollars for infrastructure projects. We believe that we are well positioned to benefit from this broad infrastructure development that creates tremendous market opportunities for us. We are confident that our solid business platform, geographic expansion and strong execution will bring revenue growth, gross margin improvement and higher earning power."

As a condition to a financing deal consummated on October 16, 2009 CHNC agreed to issue shares to certain investors if the following net income targets are not met:

Sources: SEC 10K Filing (For the quarterly period ended May 2009)
               SEC 8K Filing ( October 20, 2009)

^a China Infra Construction has not been paying any taxes. Thus, we have assumed that its net income targets are not taxed. We calculated tax adjusted net income figures using a tax rate of 25%.

^b The GeoTeam calculated implied EPS figures using 11.1 million diluted shares and assumes net income targets will be met. We did this only as a frame of reference as the figures do not take into account the possibility of any future dilutive events.

^c The company affected a 1 for 10 reverse split and later consummated a financing transaction that resulted in a significant increase in the amount of shares outstanding.

Note: The GeoTeam® is still attempting to verify the data in this research note.

China Infrastructure Construction Corporation, one of the major U.S.-listed providers of ready-mix concrete in Beijing, announced that it has entered into a 10-year strategic agreement with one of its major clients, China Railway Construction Group Co., Ltd. Under the Agreement, the two parties will join to produce and sell concrete in north central China's Xi'an region, and CHNC has already built and will open a new manufacturing facility there.

The new station will be put into production in early February 2010 to supply concrete for a series of construction projects in the Xi'an region. At CHNC's historical capacity utilization rates, estimated annual sales revenue from the new Xi'an facility may reach up to $40 million.

The company reported 2009 revenues of $60.8 million for its year ended in May.  The GeoTeam® needs to inquire if the impact from this venture is accounted for in its 2010 and 2011 net income targets.

Source: PR Newswire (January 5, 2010)