China HGS Real Estate, Inc. (HGSH) is one of the leaders in real estate development in the region and it holds the real estate qualification of National Grade I. The company is engaged in the construction and sale of residential apartments, commercial properties and parking lots. HGSH specifically focuses on the high-rise, sub-high-rise, multi-layer residential buildings as well as office buildings. The company provides affordable housing with modern designs in the counties where there’s a problem of rapidly growing population and increased urbanization. The company’s vast developmental activities include land acquisition, project planning, design and construction management, sales and marketing and property management.
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The price of HGSH stock ended the regular trading session of December 14, 2021 at $2.25 with a slight gain of $0.90. While at the last check the stock was up by 11.07% in the pre market session.
On August 16, 2021, HGSH announced its financial results for the third quarter of 2021 ended June 30, 2021. Some of the important financial results are mentioned below
Total revenue for Q3 of fiscal 2021 with an increase of 944.6%, was reported to be $31.8 million, against $3.0 million for the same quarter of fiscal 2020.
Net income for the third quarter of fiscal 2021 was reported to be $3.6 million, while the net loss of Q3 2020 was $2.6 million.
Net Loss per Share
Basic and diluted net income per share for the third quarter of 2021 increased to $0.14, in comparison to basic and diluted net loss per share of $0.11 for the third quarter of 2020.
Total assets for the third quarter of fiscal 2021 were reported to be $387 million versus the total assets for the same period prior year which were $353 million.
The HGSH stock took a notable leap of 7.6% from the past week due to uncertain reasons. The analysts are optimistic that the stock will tend to impress the investors in the future.