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.

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.”

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.

For the nine months ended September 30, 2011, Tongxin International reported a net-loss of US$(6.2) million, or US$(0.33) per diluted share, compared to a net loss of US$(0.67) million and income of US$1.37 per share in the same period of 2010.

Also, Tongxin International announced that on 8 November 2011 it has subscribed for further 1,428,571 new shares in Signet Petroleum Ltd, for total consideration of US$5 million, by exercising part of the option granted to Tongxin by Signet on 22 August 2011. The proceeds of the exercise will allow Signet to meet its short term working capital requirements, and seek additional oil and gas assets in line with the business plan.

Signet Petroleum Ltd is a private limited company incorporated on 18 June 2010 under the law of the British Virgin Islands. Since its incorporation, Signet has acquired interests in exploration rights for hydrocarbons in Tanzania, Namibia, Benin and Burundi.

For the third quarter of 2011, capitalized exploration excluding discontinued operations amounted to US$5.2 million, as compared to US$0.5 million for the same period of the last year. For the nine months ended September 30, 2010, capitalized exploration was US$11.5 million, compared to US$1.5 million for the nine month period last year.

In the third quarter of the year 2011, company’s net sales were US$147,4mln, 15.6% down as compared to US$174,7mln in the third quarter of the year 2010. Gross profit in the amount of US$8.1 mln in the third quarter of 2011 is a 54.6% decrease from US$17.9mln in the same quarter last year. Gross profit margin in the third quarter of 2011 decreased to 5.5%, down from 10.2% in the third quarter of 2010. Because of lower gross margins, operating income of Nam Tai Electronics was US$0.1mln in the third quarter of 2011, much lower as compared to US$7.3 mln in the third quarter of 2010. Also, in the reported period the BVI company earned net income of US$0.6 mln, down from the US$7.6mln in the third quarter of the last year. Interest income of the company was US$0.6mln, and currency exchange gains were US$0.9mln.

According to the Consolidated income statement of the BVI company for the six months period, company’s financial income was USD 806,895 (compared to 8,270 in the same period of 2010). In the consolidated balance sheet of the company as of 30 June 2011, there are the following figures: total assets of the company are USD 95,126,962 , reported share capital is USD 2,503,562, accumulated losses of the BVI company are USD 92,387,842.

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic. Currently company’s main activities are the development of the Kiziltash Project and the Tulkubash Project situated within the Middle Tien Shan Mountains of Kyrgyzstan.

In this year period, the BVI company completed the sale of its stake in Extract Resources Limited, as well as the disposal of its uranium interests, for US$142 million, and realised a net gain on disposal of US$62.7 million. Part of the proceeds were used to fund a special dividend to shareholders, for a total amount of US$113.9 million. US$7.8 million was devoted to the share buy-back programme, and a total of 168.4 million shares were cancelled from the company’s share capital during the period.

On 12 October 2010, Polo Resources Ltd (http://finance.yahoo.com/q?s=POLJF.PK) received the US$20 million deferred cash consideration from Winsway Coking Coal Holdings Ltd, to conclude the disposal of the company’s 50%-interest in the Peabody-Polo Resources Mongolian coal joint venture.

Interest in GCM Resources plc (http://finance.yahoo.com/q?s=GCM.L%2C+&ql=0) was valued at US$25.9 million at 31 August 2011. Polo holds 29.82 per cent of the company. Subsequent to the financial year end, the interest in Caledon Resources plc (http://bvi-company-financials.bviincorporation.com/386/bvi-company-to-receive-cash-proceeds-on-disposal-of-its-subsidiary/) is being realised as Guangdong Riding Pty Ltd confirmed acquisition of Caledon in an all cash offer of 112 pence per share.

By words of Neil Herbert, Executive Co-Chairman and Managing Director of Polo Resources, “the proceeds from the realisation of Extract (Uranium) have been applied to implement a share buy-back programme and fund the payment of a substantial special dividend in August 2010. The proceeds have also funded the acquisition of interests in new projects across a range of minerals. The proceeds from the realisation of Caledon (Coal) will be utilised to implement a further substantial dividend and pursue new opportunities.”

According to him, the BVI company is looking forward to “another exciting year with a range of projects in coal, iron and gold, with new evaluate new projects, both listed and private, with the view to making additional investments.”

In the second quarter of 2011, gross profit decreased 25.6% as compared to the same quarter last year, and made US$9.5 million (US$12.7 million in the second quarter of 2010). Gross profit margin in the second quarter of 2011 decreased from 11.2% to 6.4% in the second quarter of 2010.

Consistent with its long-term business strategy, the company is narrowing its focus to higher-growth, lower-margin business opportunities, such as key component assembly for telecommunication products, which leverage company core strengths.

Lower gross margins resulted in operating income of US$0.7 million in the second quarter of 2011, down from US$3.8 million in the second quarter of 2010. The BVI company reported net income in the amount of US$3 million in the second quarter of 2011 compared with the US$3.2 million for the second quarter of last year.

For the six months ended June 30, 2011, net sales of Nam Tai Electronics were US$309.6 million, an increase of 60.3% as compared to US$193.2 million in the same period of last year. Gross profit margin of the BVI company was 5.7% as compared to 9.9% in the same period of 2010. Gross profit was US$17.7 million, down 8% as compared to US$19.2 million in the same period of last year. Net income for the six months ended June 30, 2011 was US$5.0 million, or US$0.11 per share (diluted), as compared to net income of US$2.1 million, or US$0.05 per share (diluted) in the same period of last year.

Company’s gross profit was US$0.9 million, compared to US$1.4 million in the same period of 2010. Gross margin was 23.0%, compared to 62.3% in the three months ended March 31, 2010. The drop in gross margin was mainly attributable to higher expenses.

The company reported operating loss in the amount of US$0.3 million, compared to operating income of US$0.8 million in the third quarter of 2010. Diluted earnings per share were US$0.02, compared to US$0.13 in the prior year period.

Net income attributable to Pansoft shareholders was $0.1 million, compared to net income of $0.7 million in the year-ago quarter, and was lower than the prior period.

Cost of sales was US$3.0 million, compared to US$0.9 million in the three months ended March 31, 2010. Such increase was attributed 40% to Pansoft China and 60% to newly acquired businesses.