China Modern Acquired Land to Create Modern Breeding Base for Dairy Cows
(firmenpresse) - HARBIN, CHINA -- (Marketwired) -- 04/04/13 -- China Modern Agricultural Information, Inc. ("China Modern" or "the Company") (OTCBB: CMCI), a high-tech livestock company specializing in the breeding of cows and calves, the production and sales of milk and the sale of organic fertilizer, has acquired a land of approximately 427,000 square meters to facilitate its development. In the meantime, the management announced the forecasted revenue of $11.5 million for the third quarter of fiscal year 2013.
To secure the further expansion of the dairy cow breeding base, the management of China Modern recently has passed a material asset acquisition project to invest approximately $12 million for the acquisition of the land of approximately 427,000 square meters which has been leased by China Modern.
For the three months ended March 31, 2013, the revenue is estimated to be $11.5 million, representing an increase of 22% as compared to $9.4 million for the same period in 2012. The revenue of the Company mainly comes from the sale of fresh milk and the commission from farmers.
For the three months ended March 31, 2013, gross profit is estimated to reach $7.4 million, an increase of $1.36 million or 23%, as compared to $6.0 million for the same period last year. Gross profit margin will reach 64%. Net profit is projected to be $5.4 million, with a net profit margin of 47%, representing an increase of 18% as compared to $4.6 million for the same period last year.
Mr. Youliang Wang, the CEO of China Modern, commented: "Due to the fast development of Chinese dairy processing industry in recent years, the demand of raw milk has been dramatically increased. In the meantime, through the strong support from the government, the Company has actively carried out the new breeding model in operation, and the operating performance of the Company continues to grow steadily. In the future, the Company will make full use of the value of the acquired land to realize the industrialized operation of breeding dairy cows and create a modern and high-yield production base for high quality green milk."
China Modern Agricultural Information, Inc. is a high-tech livestock company specializing in the breeding of cows and calves, the production and sale of milk, the sale of organic fertilizer, as well as the promotion of agricultural information. For more information please visit .
Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our 8K/A dated March 31, 2011, and other recent filings. These filings are available at .
Company:
Youliang Wang
CEO
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 04.04.2013 - 06:30 Uhr
Sprache: Deutsch
News-ID 1213337
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
HARBIN, CHINA
Phone:
Kategorie:
Livestock
Anmerkungen:
Diese Pressemitteilung wurde bisher 281 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"China Modern Acquired Land to Create Modern Breeding Base for Dairy Cows
"
steht unter der journalistisch-redaktionellen Verantwortung von
China Agricultural Information Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
