Providing investors with the
tools to make informed decisions.
Providing investors with the
tools to make informed decisions.
 Tracking 1050 U.S. listed China Stocks and Counting...
 Tracking 1535 U.S. Stocks and Counting...

 China Shandong (PINK:CSNH)

Thursday, March 3, 2011
China Shandong Industries, Inc. and Subsidiaries
Audited Consolidated Statements of Income and Comprehensive Income
  
 
For the years ended December 31,
 
   
2010
   
2009
 
Revenues
           
Sales
 
$
83,934,050
   
$
69,435,044
 
Cost of goods sold (exclusive of depreciation and amortization)
   
59,247,966
     
49,360,775
 
                 
Operating expenses
               
Selling and marketing
   
964,130
     
831,245
 
Research and development expenses
   
729,195
     
502,584
 
General and administrative
   
2,586,166
     
1,439,600
 
Professional and consulting fees
   
509,891
     
24,218
 
Total Operating Expenses
   
4,789,382
     
2,797,647
 
                 
Income from operations
   
19,896,702
     
17,276,623
 
                 
Other income (expenses)
               
Finance income (expenses)
   
(938,247
)
   
(753,093
)
Other income
   
5,226
     
202,851
 
Non-operating income  (expenses)
   
83,346
     
(611,339
)
Total other income (expense)
   
(849,675
)
   
(1,161,581
)
                 
Income before income taxes
   
19,047,027
     
16,115,042
 
                 
Income taxes - current
   
4,889,138
     
3,415,978
 
Income taxes - deferred
   
     
677,909
 
                 
Net income
 
$
14,157,889
   
$
12,021,155
 
                 
Other comprehensive income
               
Foreign currency translation adjustment
   
1,904,157
     
(241,522
)
                 
Comprehensive income
 
$
16,062,046
   
$
11,779,634
 
                 
Earnings per common share
               
Basic
 
$
1.65
   
$
1.47
 
                 
Fully diluted
 
$
1.62
   
$
1.47
 
                 
Weighted average common shares outstanding
               
Basic
   
8,579,393
     
8,146,250
 
                 
Fully diluted
   
8,748,973
     
8,165,139
 
             

GeoTeam Note: Adjusted Fourth Quarter 2010 vs. 2009 EPS:

  • Full Year:  $1.67 vs. $1.55
  • Fourth Quarter: $0.89 vs. $0.94

Sunday, November 14, 2010
Third Quarter 2010
  • Revenues for the three and nine months ended September 30, 2010 were $22,746,574 and $62,181,727, respectively, representing an increase of $8,021,462 or 54.5%, and $15,980,610 or 34.6%, compared to revenues of $14,725,112 and $46,201,117 for the comparative periods ended September 30, 2009.
  • Net income for three and nine months ended September 30, 2010 was approximately $4,008,460 and $10,286,442, respectively, an increase of approximately $1,715,854 or 74.8%, and by $2,870,117 or 38.7%, compared to net income of approximately $2,292,606 and $7,416,325 for the same periods ended September 30, 2009.

In 2010, we intend to continue to focus on the implementation of our strategic plan to sustain the growth we have experienced since becoming a U.S. public company in November 2009 through the reverse acquisition of Mobile Presence Technologies, Inc., a holding company for our China-based subsidiaries. In early 2011, we expect to construct a new production facility. This production facility will include modern equipment and components that we believe will allow us to produce our products more quickly and in greater quantity, without sacrificing quality, which we believe will enable us to satisfy additional oversea requests for our products received by us that we are currently unable to fulfill. In addition, through our aggressive marketing campaign, we also expect to increase our brand awareness and customer loyalty.


Thursday, May 13, 2010

Based upon our perceived and historical growing demand for our wood furniture product and the changing demographics of the wood furniture industry, we believe we have a unique opportunity to substantially increase our revenues, net income and gross margins by not only expanding the manufacturing capacity of our existing wood furniture business but also producing different types of wood furniture products that we believe there is a large and increasing international demand for.

As a result, while we intend to continue manufacturing and sell our straw, wicker and handicraft products, we intend to devote substantial financial and other resources on our wood furniture products by not only producing new products but also increasing our current manufacturing capacity by renovating and upgrading our current production facilities.