Aoxin Tianli Group, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
November 13, 2015 at 05:00 pm EST
Share
Aoxin Tianli Group, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported revenues of $9,456,786 against $11,476,257 a year ago. Income from operations was $1,598,897 against $1,562,884 a year ago. Income before income taxes was $857,247 against $1,902,810 a year ago. Net income attributable to company's common stock holders was $857,004 or $0.03 per basic and diluted share against $1,813,226 or $0.08 per basic and diluted share a year ago. The decrease in net income was mainly due to loss from disposal of farms of $0.79 million this year and decrease in subsidy income of $0.40 million, partially offset by decrease in interest expenses of $0.18 million.
For the nine months, the company reported revenues of $31,417,286 against $29,237,480 a year ago. Income from operations was $2,458,434 against $1,607,356 a year ago. Income before income taxes was $1,652,922 against $2,733,182 a year ago. Net income attributable to company's common stock holders was $1,554,455 or $0.05 per basic and diluted share against $2,732,864 or $0.14 per basic and diluted share a year ago. Net cash provided by operating activities was $13,201,653 against $7,940,155 a year ago. Purchase of plant and equipment was $14,256 against $58,932 a year ago. Purchase of intangible assets was $584. The decrease in net income was mainly due to a decrease in other income of $1.93 million, partially offset by an increase in operating income of $0.85 million.
BIQI INTERNATIONAL HOLDINGS formerly CORPRenmin Tianli Group, Inc., is a holding company. The Company is engaged in hog farming. The Company conducts its hog breeding operations through Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. (Fengze), a subsidiary of Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd., its wholly foreign owned enterprise, or WFOE, and its subsidiaries, Hubei Tianzhili Breeder Hog Co., Ltd. (Tianzhili), and Hubei Tianzhili (Hefeng) Breeder Hog Co., Ltd (Hefeng). The Company operates in two segments: Hog Farming and Retail. It utilizes various purebred hogs at its farms. The primary purebred varieties that it utilizes are the Yorkshire, Landrace and Duroc. It breeds both purebred and cross-bred hogs in order to attain desirable traits in the hogs produced in its farms. It is engaged in the sales of specialty processed black hog meat through the Internet. It sells its products under its Xiduhei trademark.