chinaman711
03-28-2008, 01:33 PM
Do your homework on this 1 as 2008 will be better then 2007 and 2007 was a great year for them. China Housing & Land Development Reports Strongly Higher Sales and Net Income for the Year 2007
Total Revenues up 37 Percent, Net Income up 84 Percent Highlights for 2007 -- Total revenues increased 36.6 percent to $73.91 million from $54.10 million. -- Net income increased 83.4 percent to $16.69 million from $9.10 million. -- Basic and diluted earnings per share increased 37.8 percent to $0.62 per share from $0.45. -- Cash flow from operating activities provided $8.61 million, up 35.8 percent from 2006. -- Cash flow from investing activities consumed $25.02 million, up 70.0 percent from 2006. -- Cash flow from financing activities provided $18.42 million, up 111.8 percent from 2006. -- Net debt as a percentage of total capital was 27.79 percent at year end 2007 compared with 59.49 percent at year end 2006.
XI'AN, China, Mar 28, 2008 (BUSINESS WIRE) -- China Housing & Land Development, Inc., (OTC BB:CHLN) reported that net income for the year 2007 increased 83.4 percent to $16.69 million from $9.10 million in 2006, and earnings per diluted share increased 37.8 percent to $0.62 per share from $0.45 per diluted share in 2006.
Mr. Pingji Lu, chairman and chief executive officer of China Housing & Land Development, Inc., said, "We are very pleased to report our strong results for 2007. Our positioning in the robust real estate development market in greater Xi'an, along with the excellent execution of our strategies, has created our attractive performance in 2007."
He continued, "We believe our market growth in the next decade will be driven by seven factors: the continuing migration from rural to urban areas as people seek higher incomes and greater wealth, China's "Go West" policy that encourages people to move from the high-density cities on China's eastern coast to growing regions like Xi'an, China's continuing double-digit economic growth, the development of new technology companies in the region, multinational corporations that are choosing our area for their Chinese headquarters, Xi'an's city-center tourism redevelopment plan that will move 450,000 citizens from the inner city to the outer regions of the city, and more specifically, our operations in the Baqiao area eight kilometers east of the Xi'an city center. In the Baqiao housing and land development project, we are responsible for the creation of infrastructure, and the creation and sale of housing, commercial, and industrial facilities within our 487 acres. All of our projects are advancing nicely."
Total Revenues up 37 Percent, Net Income up 84 Percent Highlights for 2007 -- Total revenues increased 36.6 percent to $73.91 million from $54.10 million. -- Net income increased 83.4 percent to $16.69 million from $9.10 million. -- Basic and diluted earnings per share increased 37.8 percent to $0.62 per share from $0.45. -- Cash flow from operating activities provided $8.61 million, up 35.8 percent from 2006. -- Cash flow from investing activities consumed $25.02 million, up 70.0 percent from 2006. -- Cash flow from financing activities provided $18.42 million, up 111.8 percent from 2006. -- Net debt as a percentage of total capital was 27.79 percent at year end 2007 compared with 59.49 percent at year end 2006.
XI'AN, China, Mar 28, 2008 (BUSINESS WIRE) -- China Housing & Land Development, Inc., (OTC BB:CHLN) reported that net income for the year 2007 increased 83.4 percent to $16.69 million from $9.10 million in 2006, and earnings per diluted share increased 37.8 percent to $0.62 per share from $0.45 per diluted share in 2006.
Mr. Pingji Lu, chairman and chief executive officer of China Housing & Land Development, Inc., said, "We are very pleased to report our strong results for 2007. Our positioning in the robust real estate development market in greater Xi'an, along with the excellent execution of our strategies, has created our attractive performance in 2007."
He continued, "We believe our market growth in the next decade will be driven by seven factors: the continuing migration from rural to urban areas as people seek higher incomes and greater wealth, China's "Go West" policy that encourages people to move from the high-density cities on China's eastern coast to growing regions like Xi'an, China's continuing double-digit economic growth, the development of new technology companies in the region, multinational corporations that are choosing our area for their Chinese headquarters, Xi'an's city-center tourism redevelopment plan that will move 450,000 citizens from the inner city to the outer regions of the city, and more specifically, our operations in the Baqiao area eight kilometers east of the Xi'an city center. In the Baqiao housing and land development project, we are responsible for the creation of infrastructure, and the creation and sale of housing, commercial, and industrial facilities within our 487 acres. All of our projects are advancing nicely."