January 19th, 2012
The Board of Directors of the British Virgin Islands-registered company Euro Tech Holdings Company Limited approved a reverse stock split of the Company’s ordinary shares, which is effective from January 13, 2012.
After the Reverse Split, every eleven ordinary shares outstanding prior to the Reverse Split will be converted to two ordinary shares. Any owner of less that one full share of the new shares will receive cash in lieu of the fractional shares.
The company’s transfer agent, American Stock Transfer & Trust Company, LLC, will process the corporate action. BVI company’s shareholders are required to exchange their current stock certificates for new ones representing new shares.
In the first press release, the BVI company announced that “D” would be added on the ticker symbol for 30 days once the Reverse Split is effective. However, on January 17 the company corrected the previous announcement, saying that no change would be made to the trading symbol upon effectiveness of the Reverse Split.
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January 6th, 2012
British Virgin Islands-registered Pansoft Company Limited reported unaudited financial results for the fiscal 2011 business year ended June 30, 2011. In the reported year, company’s revenues were US$19.2 mln – 59% increase as compared to the previous fiscal year. Approximately 72.2% of this amount was contributed by Pansoft China and 27.8% by newly acquired businesses. Gross profit was US$6.4 mln – this is 10% increase versus the previous year. Operating profit was US$1.4 mln, compared to US$3.6 mln in the year 2010. Operating expenses were US$5 mln, this is 129.2% increase from US$2.2 mln in the fiscal year ended June 30, 2010.
Other highlights of the report for the year 2011: net income attributable to Pansoft shareholders was US$1.4 mln, compared to US$3.2 mln in the prior fiscal year, net income per diluted share attributable to Pansoft shareholders was US$0.25 (US$0.59 in 2010). Comprehensive income attributable to common shareholders of the BVI company was US$2.2 mln (US$3.3mln in the previous year). In the year 2011, cost of sales was US$12.8 mln, this is a 104.4% increase from US$6.3 mln in the prior fiscal year.
Pansoft’s Chairman of the Board Hugh Wang has commented on the results, saying that the company is mostly satisfied with their business results for fiscal 2011. This year, the company also completed the acquisition of Hefei Langji Technology Co., Ltd., a leading HR solution provider to China’s coal-mining industry, and its wholly-owned sales and marketing arm Shanghai Zhongrui for a total amount of approximately $1.7 million.
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December 29th, 2011
Last week, British Virgin Islands-registered and China-based company China Natural Resources, Inc. released unaudited interim financial results for the three and six month period ended June 30, 2011. For the three month period, company’s net sales were US$9,56 million, and gross profit was US$3,39 million. Average number of outstanding shares, both basic and diluted, was 22,748,141. In the three months ended June 30, 2011, the BVI company reported net loss in the amount of US$1,09 million.
The Chairman and CEO of the BVI company Mr. Feilie Li said in his comments on the 2011 interim results: “In view of the continuing economic growth in the PRC, we believe that demand for coal will continue to be robust in the foreseeable future. We are positive about the prospects for the coal mining industry in the PRC and we will continue to pursue growth through acquisition and consolidation of small to medium sized coal mines.”
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December 14th, 2011
Euro Tech Holdings Company Limited, the company incorporated in the British Virgin Islands and headquartered in Hong Kong, announced its unaudited financial results for the six months ended June 30, 2011. BVI company’s revenues for the reported period were approximately US$9,554,000, this is a 7.8% decrease as compared to approximately US$10,363,000 for the six months ended June 30, 2010.
For the six months ended June 30, 2011, the BVI company reported net income in the amount of US$1,330,000. At the same time, the further drop of revenues from trading business was US$2,139,000.
Company’s operating results changed from the loss for the six months ended June 30, 2010 to a net income for the six months ended June 30, 2011 – principally due to the reduction of selling and administrative expenses of approximately US$428,000.
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