Renmin Tianli Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
March 27, 2018 at 04:30 pm EDT
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Renmin Tianli Group, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenues of $7,310,000 against $7,186,000 a year ago. Net income from continuing operations was $626,000 against $371,000 a year ago. Net income for common shareholders was $626,000 against net loss for common shareholders of $382,000 a year ago. Operating income for the fourth quarter of 2017 was $0.61 million, compared to an operating loss of $0.34 million for the same period of last year.
For the year, the company reported revenues of $27,003,803 against $33,697,680 a year ago. Income from operations was $1,062,660 against $2,448,049 a year ago. Income before income taxes was $1,108,798 against $941,077 a year ago. Net income from continuing operations was $1,108,798 or $0.14 per basic and diluted share against $941,077 or $0.12 per basic and diluted share a year ago. Net income attributable to the company's common stockholders was $1,108,798
against net loss attributable to the company's common stockholders of $1,759,721 a year ago. Net cash provided by operating activities was $5,212,475 against $10,047,286 a year ago. Purchase of biological assets was $103,676. Operating income for 2017 was $1.06 million, compared to $2.45 million for 2016. Operating margin for 2017 was 3.9%, compared to 7.3% for 2016.
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.