Renmin Tianli Group, Inc Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 13, 2017 at 09:30 pm
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Renmin Tianli Group, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported Revenue was $6,790,580 against $7,841,371 a year ago. Income from operations was $366,015 against loss from operations of $90,149 a year ago. Income before income taxes was $385,206 against loss before income taxes of $1,783,060 a year ago. Net income from continuing operations was $385,206 against net loss from continuing operations of $1,783,060 a year ago. Net income attributable to company common stockholders was $385,206 against net loss attributable to company common stockholders of $2,707,347 a year ago. Continuing operations - basic & diluted per share was $0.05 against continuing operations - basic & diluted loss per share of $0.22 a year ago. The decrease in revenues reflected the impact from lower prices for regular market hogs and black hogs, and fewer black hogs available for sale.
For the nine months, the company reported Revenue was $19,693,731 against $26,511,428 a year ago. Income from operations was $449,826 against $2,112,938 a year ago. Income before income taxes was $482,722 against $570,141 a year ago. Net income from continuing operations was $482,722 against $570,141 a year ago. Net income attributable to company common stockholders was $482,722 against net loss attributable to company common stockholders of $2,133,686 a year ago. Continuing operations - basic & diluted per share was $0.06 against $0.07 a year ago. Net cash provided by operating activities was $3,915,162 against $9,987,746 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.