Renmin Tianli Group, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 20, 2018 at 04:15 pm EDT
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Renmin Tianli Group, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, revenue was $6,178,554 against $6,222,160 a year ago. Loss from operations was $436,617 against profit of $55,412 a year ago. Loss before income taxes was $418,098 against profit of $64,422 a year ago. Net loss was $418,098 or $0.05 per basic and diluted share against profit of $64,422 or $0.01 per basic and diluted share a year ago.
For the six months, revenue was $13,408,085 against $12,903,151 a year ago. Loss from operations was $397,646 against profit of $83,811 a year ago. Loss before income taxes was $360,581 against profit of $97,516 a year ago. Net loss was $360,581 or $0.05 per basic and diluted share against profit of $97,516 or $0.01 per basic and diluted share a year ago. Net cash provided by operating activities was $1,003,280 against $2,641,278 a year ago. Purchase of plant and equipment was $1,649.
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.