Gold Horse (GHII) Posts 2011 Nine-months Results, 55% Revenue Increase

QualityStocks would like to highlight Gold Horse International, Inc. (OTCBB: GHII), a business group that, through the Jin Ma Companies, controls and operates a construction company, real estate development business, and a hotel/banquet facility in Inner Mongolia, China. Jin Ma Construction has been providing construction and general contractor services in Hohhot to both private developers and to the local and regional governments since 1980.

In the company’s news Friday,

Gold Horse International announced its financial results for the nine months ended March 31, 2011.

For the nine-months ended in March, the company reported a 54.8 percent increase in revenue to $36.2 million compared to $2.3 million for the comparable nine-month period in 2010.

Gross margin increased 16.3 percent compared to 15.7 percent in the same nine months of 2010.

Gross profit increased 60.8 percent to $5.9 million over $3.7 million reported for the same nine months of 2010.

Net income was $3.2 million, or $1.63 per fully diluted common share, compared to $0.3 million, or $0.21 per fully diluted share, reported for the same nine months of 2010.

As of March 31, 2011, Gold Horse reported $0.3 million in cash and cash equivalents, short-term debt of $3.2 million and long-term debt of $0.32 million.

Liankuan Yang, chairman and CEO of Gold Horse, said the company is confident that it is out of reach of the effects of the slow real estate markets in Beijing and Shanghai, cushioned by its development in Hohhot, Inner Mongolia and its surrounding areas.

“… During the fourth quarter of 2011, we expect to sell all of our units in Shuian Renjia and we expect to collect approximately $30 million from these sales which will be used to pay subcontractors and other accounts payable balances and will be used for working capital purposes,” Yang stated in the press release.

The company noted that Jin Ma Real Estate has acquired land and rights to various residential projects, and recently completed a project in Hohhot expected to yield revenues of $30 million during the fourth quarter of 2011.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.