Changda Intl (OTC BB:CIHD)

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Wednesday, July 13, 2011

WEIFANG, China--(BUSINESS WIRE)--Changda International Holdings, Inc. (OTCBB: CIHD) the Weifang based specialty chemicals manufacturer and fertilizers producer today announced that the Company knows of no reason for the recent weakness in the price of its stock, and further would direct shareholders and other interested parties to the Company's most recent 10-Q filing and its second quarter results as well as its most recent year-end fully audited 10-K filing. It stands by all its reports and further states that at current level the Company’s market value is below its cash level and the stock price at a multiple of less than 1.2 its existing net earnings per share. The Company will file its third quarter results and knows of no development related to the Company’s business prospects or operations that could justify the present weakness in its stock price.

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Sunday, April 3, 2011

Changda International Holdings, Inc.

Consolidated Statements of Operations and Other Comprehensive Income

For the years ended December 31, 2010 and 2009

			Years ended December 31,
			2010			2009
	Note		US$’000			US$’000

Operating revenues				90,509			73,073

Cost of sales				(75,251	)		(60,237	)

Gross profit				15,258			12,836

Operating expenses
Depreciation of property, plant and equipment				(276	)		(269	)
Amortization of intangible assets				(1	)		(1	)
Amortization of prepaid lease expenses				(53	)		(37	)
Selling, general and administrative expenses				(5,440	)		(6,236	)

Operating income				9,488			6,293

Subsidies received				-			15
Reversal of provision of doubtful debts				-			76
Other income				30			73
Interest income				11			3
Interest expenses				(601	)		(330	)
Other finance cost				(508	)		-

Income before income taxes				8,420			6,130

Income taxes		5		(2,070	)		(1,473	)

Net income				6,350			4,657

Other comprehensive income
Foreign currency translation adjustment				1,248			14

Total comprehensive income				7,598			4,671


Earnings per common stock ($)		6
Basic				0.33			0.25

Diluted				0.33			0.25

Weighted average number of common stocks		6
Basic				19,002,762			18,769,801

Diluted				19,002,762			18,941,192

GeoTeam Note: Fourth Quarter 2010 vs. 2009 was $0.13 vs. $0.07

We experience seasonal variations in our revenues and our operating costs due to the farming season. The peak selling seasons for our fertilizer products are the first, second and fourth quarters of the year. These periods are the planting and crop-growing months, which boost fertilizer sales. The third quarter of the year is harvest season, hence the low demand for our fertilizer products

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Monday, August 2, 2010

Revenues for the quarter ended June 30, 2010 of approximately $26,474,000 increased approximately $4,856,000 or 22.5% from approximately $21,618,000 for the quarter ended June 30, 2009. Chemical sales volume for the quarter ended June 30, 2010 of approximately 14,789 tonnes represent an increase of approximately 5,215 tonnes or 54.5% from sales volume of approximately 9,574 tonnes for the quarter ended June 30, 2009. Sales of chemical products increased by approximately $1,749,000 or 108.1% mainly due to the increase in the volume of sales of flame retardant as a consequence of a strong demand for the new product, which has a high sales price per tonne, as well as of calcium chloride and magnesium chloride. Another significant reason for the increase in sales volume is that 3,668 tonnes of de-icing salt were sold in the second quarter 2010 due to the unusual snow that occurred in April 2010.

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