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Green Giant | 10-Q: Q1 2024 Earnings Report

グリーン・ジャイアント | 10-Q:Q1 2024 四半期報告書

SEC ·  02/05 13:10

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Green Giant Inc. (formerly known as China HGS Real Estate, Inc.), a company engaged in real estate development and green energy business, reported its financial performance for the quarter ended December 31, 2023. The company's revenue for the quarter was $183,469, a 12.8% increase from the same period in the previous year, primarily from the sale of completed condominium real estate projects. Cost of sales decreased by 16.6% to $108,682, resulting in a gross profit of $74,787 and a gross margin of 40.4%. Operating expenses, however, increased significantly by 391.8% to $2,986,460, mainly due to share-based compensation to consultants. This led to a net loss of approximately $2.9 million for the quarter. The company's cash and restricted cash balance stood at approximately $7.2 million, an increase from the previous quarter. Green Giant Inc. continues to focus on its existing construction projects and is exploring opportunities in the green energy sector in the U.S. The company's management concluded that internal controls over financial reporting were not effective due to identified material weaknesses.
Green Giant Inc. (formerly known as China HGS Real Estate, Inc.), a company engaged in real estate development and green energy business, reported its financial performance for the quarter ended December 31, 2023. The company's revenue for the quarter was $183,469, a 12.8% increase from the same period in the previous year, primarily from the sale of completed condominium real estate projects. Cost of sales decreased by 16.6% to $108,682, resulting in a gross profit of $74,787 and a gross margin of 40.4%. Operating expenses, however, increased significantly by 391.8% to $2,986,460, mainly due to share-based compensation to consultants. This led to a net loss of approximately $2.9 million for the quarter. The company's cash and restricted cash balance stood at approximately $7.2 million, an increase from the previous quarter. Green Giant Inc. continues to focus on its existing construction projects and is exploring opportunities in the green energy sector in the U.S. The company's management concluded that internal controls over financial reporting were not effective due to identified material weaknesses.
不動産開発と緑エネルギー事業に従事する企業であるGreen Giant Inc.(旧称:China HGS Real Estate, Inc.)は、2023年12月31日に終了した四半期の財務業績を発表しました。同四半期の売上高は183,469ドルで、前年の同期比12.8%増で、主に完成したマンションの不動産プロジェクトの販売から得られました。売上原価は108,682ドルに減少し、粗利益は74,787ドル、粗利率は40.4%となりました。ただし、コンサルタントへの割当株式報酬金が原因で、営業費用は391.8%増の2,986,460ドルに大幅に増加しました。これにより、同四半期の純損失は約290...すべて展開
不動産開発と緑エネルギー事業に従事する企業であるGreen Giant Inc.(旧称:China HGS Real Estate, Inc.)は、2023年12月31日に終了した四半期の財務業績を発表しました。同四半期の売上高は183,469ドルで、前年の同期比12.8%増で、主に完成したマンションの不動産プロジェクトの販売から得られました。売上原価は108,682ドルに減少し、粗利益は74,787ドル、粗利率は40.4%となりました。ただし、コンサルタントへの割当株式報酬金が原因で、営業費用は391.8%増の2,986,460ドルに大幅に増加しました。これにより、同四半期の純損失は約290万ドルとなりました。同社の現金及び制限付き現金残高は、前四半期に比べて約720万ドルに増加しました。Green Giant Inc.は、既存の建設プロジェクトに注力し、アメリカの緑エネルギーセクターに関する機会を探っています。同社の経営陣は、監査報告において特定された重大な欠陥により、財務報告に対する内部統制が有効ではなかったと結論づけています。
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