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China HGS Real Estate Inc. has officially changed its name to Green Giant Inc., effective March 23, 2022. This rebranding aims to reflect the company's strategic shift towards a new energy business. The Board of Directors approved the name change on January 27, 2022, with shareholder consent on February 2, 2022. Additionally, the company's common stock will transition from the ticker symbol HGSH to GGE while continuing to trade on the Nasdaq Capital Market. The move is part of broader plans to enhance business development and adapt to evolving market conditions.
China HGS Real Estate Inc. (NASDAQ: HGSH) reported strong financial results for the third quarter and first nine months of fiscal 2021. Total revenues for Q3 soared to approximately $31.8 million, up 944.6% from $3.0 million a year ago, primarily due to increased gross floor area sold. Net income reached about $3.6 million, reversing a net loss of $2.6 million in Q3 2020. For the first nine months, revenues were around $52.9 million, a 630.0% increase from $7.2 million, with net income totaling approximately $6.1 million compared to a loss of $3.5 million previously.
China HGS Real Estate Inc. (NASDAQ: HGSH) reported robust financial results for the second quarter and first six months of fiscal 2021. Total revenues for Q2 surged to approximately $18.3 million, a remarkable 867.2% increase from $1.9 million in Q2 2020, driven by higher gross floor area sales. Net income rose to approximately $2.2 million, a turnaround from a $0.6 million loss last year. For the first half, revenues reached about $21.0 million, up 401.5% from $4.2 million in H1 2020, with net income of approximately $2.5 million compared to a loss of $0.9 million.
China HGS Real Estate Inc. (NASDAQ: HGSH) reported robust financial results for Q2 2021, with total revenues reaching approximately $18.3 million, a staggering increase of 867.2% compared to $1.9 million in Q2 2020. The company transitioned from a net loss of $0.6 million last year to a net income of approximately $2.2 million this quarter. Basic and diluted net loss per share were $0.10, improving from a net loss per share of $0.03 in Q2 2020. The growth is attributed to increased sales despite lower gross floor area sold.
China HGS Real Estate Inc. (NASDAQ: HGSH) reported a strong Q1 fiscal 2021, with total revenues of approximately $2.8 million, up 19.6% from $2.3 million a year ago, driven by increased sales of gross floor area. The company achieved a net income of about $0.3 million, a turnaround from a net loss of $0.3 million in Q1 fiscal 2020. Basic and diluted net loss per share for the quarter was $0.01, consistent with the previous year.
China HGS Real Estate Inc. (NASDAQ: HGSH) filed its Annual Report on Form 10-K for the fiscal year 2020, ending September 30, 2020. Total revenues decreased by 67.5% to approximately $13.0 million, down from $40.0 million in 2019. Net income also fell by 73.5% to approximately $1.0 million, compared to $3.7 million in the previous year. Basic and diluted earnings per share were $0.04, a significant drop from $0.16 in fiscal 2019. The report is accessible on the SEC's website.
China HGS Real Estate, Inc. (NASDAQ: HGSH) has launched a sales center for its new Liangzhou Mansion project in Hanzhong City, Shaanxi Province. The Liangzhou Mansion will comprise 7 high-rise residential buildings and commercial shops, covering a total planned gross floor area of 160,000 square meters. Construction commenced in December 2020, with presales expected to start in the first half of 2021. The company aims to cater to the growing demand for affordable housing in rapidly urbanizing areas.
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