Archive for the ‘BVI Company & Subsidiary Financials’ Category

China Natural Resources announced results of operations for year ended December 31, 2018

Friday, May 10th, 2019

China Natural Resources, Inc., the company incorporated in the British Virgin Islands and headquartered in the PRC, announced the results of operations for the year ended December 31, 2018. The consolidated statements of profits or loss of China Natural Resources for the years ended December 31, 2016, 2017 and 2018 have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

Company’s Chairman Mr. Wong Wah On Edward commented on the results: “In late 2018, our wholly-owned subsidiary, Bayannaoer City Feishang Mining Company Limited, completed initial exploration program which indicated the presence of a “mid-size” deposit of lead and silver ore and resources sufficient in quantity and quality to warrant further exploration designed to confirm and increase measured resources, with the prospect of identifying other minable metal resources such as copper. In addition, we will continue to explore new business opportunities to contribute to revenues and enhance shareholder values.”

BVI holding announced unaudited financial results for Q1 2018

Thursday, May 24th, 2018

ChinaNet-Online Holdings, Inc., a parent company of ChinaNet Online Media Group Ltd., incorporated in the British Virgin Islands, which is an integrated online advertising, precision marketing, data analysis and management services platform. announced its unaudited financial results for the first quarter of 2018.

In this period, company’s net revenues increased by 13.7% to US$8.3mln, compared to US$7.3mln in the first quarter of 2017. Net loss decreased from US$1.1mln in the first quarter of the previous year to US$0.6mln in this year. Search engine marketing and data services revenue for the first quarter of 2018 increased by 29.6%, from US$5mln in the first quarter of 2017 to US$6.4mln in the same period of 2018.

In the first quarter of 2018, cost of revenues was US$7.7mln, compared to US$6.0mln in the corresponding period of 2017, the growth primarily attributable to the increase in revenue contributions from search engine marketing and data services. Gross profit in the reported period was US$0.6mln, this is a decrease from US$1.3mln in Q1 2017, as a result of increased cost of revenues.

Euro Tech Holdings announced annual fiscal results

Wednesday, May 16th, 2018

Euro Tech Holdings Company Limited, incorporated in the British Virgin Islands, announced financial results for the 12 month period ended December 31, 2017. In the reported period, company’s revenues were approximately US$17,350,000, which is 22.8% decrease compared to US$22,478,000 in the previous financial year.

Net profit of Euro Tech Holdings in the year 2017 was US$473,000, as compared to approximately US$231,000 in fiscal year 2016. The net profit increase, despite the fall of revenues, became possible mainly due to decrease in operating loss as well as decrease in selling and administrative expenses, income tax expenses and contributions from affiliates.

Hollysys Automation Technologies announced unaudited financial results for Q3 2017

Monday, May 15th, 2017

Hollysys Automation Technologies Ltd., the Chinese company domiciled in the British Virgin Islands and providing automation and control technologies and applications in China, announced its unaudited financial results for the first nine months and for the third quarter of fiscal year 2017, ended on March 31, 2017.

For the first nine months of the year, non-GAAP net income of the company was US$47.5 million, a decrease of 45.6% compared to the same period of the previous year. Total revenues were US$294.0 million, which is 25.9% less compared to the prior year. Non-GAAP gross margin was at 29.6% (37.2% in 2016); non-GAAP diluted earnings per share were US$0.79, a decrease of 45.5% compared to the same period of 2016. Net cash provided by operating activities was US$41.1 million for nine months of 2017.

For the third quarter of 2017, the BVI company reported non-GAAP income of US$13.7 million, which is 40.7% decrease compared to Q3 2016. Total revenues were US$91.3 million, 23.1% less than in the same period of the prior year. Non-GAAP gross margin was at 30.7% (31.7% for the comparable prior year period); non-GAAP diluted EPS were US$0.22, a decrease of 42.1% compared to the third quarter of 2016. Net cash used in operating activities was US$12.5 million for the quarter.