Aoxin Tianli Group, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
August 14, 2017 at 04:30 pm
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Aoxin Tianli Group, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, revenue was $6,222,160 against $9,610,789 a year ago. Income from operations was $55,412 against $1,148,794 a year ago. Income before income taxes was $64,422 against $1,216,606 a year ago. Net income from continuing operations was $64,422 against $1,216,606 a year ago. Net income attributable to the company's common share was $64,422 or $0.01 per basic and diluted share against $678,559 or $0.15 per basic and diluted share a year ago.
For the six months, revenue was $12,903,151 against $18,670,057 a year ago. Income from operations was $83,811 against $2,203,087 a year ago. Income before income taxes was $97,516 against $2,353,201 a year ago. Net income from continuing operations was $97,516 against $2,353,201 a year ago. Net income attributable to the company's common share was $97,516 or $0.01 per basic and diluted share against $573,661 or $0.29 per basic and diluted share a year ago. Net cash provided by operating activities was $2,641,278 against $7,253,088 a year ago.
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.