Green Giant Inc. announces opening of its Texas office as the base for its planned green energy business office

Rhea-AI Summary

Green Giant Inc. (NASDAQ: GGE) announced the opening of its subsidiary, GGE Texas, in Houston, Texas, on February 3, 2023. The new office aims to spearhead green energy initiatives by merging operational expertise with project financing to facilitate the transition towards clean energy. CEO Junaid Ali emphasized the company's commitment to significantly reducing the energy industry's carbon footprint using advanced technology and critical funding. Citing potential business uncertainties, the press release warns investors of possible risks affecting profitability.

Positive

• Opening of GGE Texas office in Houston marks expansion into green energy sector.
• Focus on green energy transition may attract investment and enhance market positioning.

Negative

• Forward-looking statements highlight risks related to market uncertainties and profitability.
• Potential challenges in executing clean energy projects may affect business outcomes.

HANZHONG, China, Feb. 3, 2023 /PRNewswire/ -- Green Giant Inc. (NASDAQ: GGE) ("GGE", "Green Giant" or the "Company"), today announced that its subsidiary, Green Giant Energy Texas Inc. ("GGE Texas"), opened a Houston office in Texas.

Green Giant is proud to announce the opening of GGE Texas' office located at 1330 Post Oak Blvd, Ste 1175, Houston, Texas. GGE, via its subsidiary GGE Texas, is ready to launch the planned green energy business specializing in uniting operational knowledge with critical project funding to help companies conquer clean energy transition challenges and reducing their carbon footprint. We believe we are paving the path to build GGE to be a contributor of clean energy transition through late-stage investment and development of green energy projects.

"We are thrilled to launch GGE Texas and bring our cutting-edge solutions to the market," said Junaid Ali, CEO of GGE Texas. "Our mission is to power the reduction of the energy industry's carbon footprint by combining cutting-edge technology with critical project funding, operational excellence coupled with energy services needed to bring meaningful clean energy projects to life."

Safe Harbor Statement

This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All "forward-looking statements" relating to the business of Green Giant Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the uncertain market for the Company's business, macroeconomic, technological, regulatory, or other factors affecting the profitability of real estate business; and other risks related to the Company's business and risks related to operating in China. Please refer to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2022 and other filings with the SEC, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

About Green Giant, Inc.

Green Giant Inc. (NASDAQ: GGE formerly China HGS Real Estate, Inc), founded in 1995 and headquartered in Hanzhong City, Shaanxi Province, is a leading real estate developer in the region and holds the national grade I real estate qualification. Since beginning of 2022, the Company started to research the possibility of diversifying its business, For further information about Green Giant, please go to www.gge.com.

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SOURCE Green Giant Ltd

FAQ

What is the significance of Green Giant's Texas office opening on February 3, 2023?

The Texas office signifies Green Giant's entry into the green energy market, aiming to facilitate clean energy transitions.

What are Green Giant's plans for its subsidiary GGE Texas?

GGE Texas plans to unite operational knowledge with project funding to drive clean energy projects.

What risks did Green Giant mention regarding its new energy initiatives?

Green Giant warned of market uncertainties and factors affecting profitability in its new green energy venture.

How might the opening of GGE Texas affect GGE's stock performance?

The expansion into green energy could enhance GGE's market position, potentially attracting more investors.