HANZHONG, China, Nov. 30 /PRNewswire-Asia/ -- China HGS Real Estate Inc. (OTC Bulletin Board: CAHS) ("China HGS" or "the Company"), a leading residential property developer in Hanzhong, China, today announced that it has retained CCG Investor Relations ("CCG") to design and execute its investor relations campaign.
China HGS is a rapidly growing real estate developer that focuses on Tier II and Tier III cities in China. According to statistics from the local government, the Company is currently the largest property developer in terms of market shares and contracted sales of residential units in Hanzhong, a third-tier city in Shaanxi Province. China HGS mainly offers residential properties including multi-layer, sub-high-rise, and high-rise apartment buildings. Since 1995, the Company has developed two million square meters (approximately 21.5 million square feet) of GFA, or gross floor area, with a majority of projects completed with gross margin of over 50% and net margin of over 35%. The Company completed a reverse merger with China Agro Science Corp and began trading on the OTC Bulletin Board in August 2009. China HGS reported revenues and net income of approximately $22.2 million and $8.3 million, respectively, for the year ended December 31, 2008, up 80.9% and 71.4%, respectively, from 2007.
"We look forward to working with CCG to effectively interact with our shareholders and raise our visibility in the investment and media communities as we strive to become the leading residential property developer focused on China's Tier III cities," said Mr. Xiaojun Zhu, Chief Executive Officer of China HGS.
China HGS is actively expanding into additional selected Tier II and Tier III cities and counties. Macroeconomic factors including increasing urbanization rates and stable growth in resident disposable income are the key growth drivers. In recent years, the PRC government has promoted healthy and sustainable growth of the real estate industry, and implemented policies designed to encourage development of low-to-medium priced housing. China HGS employs varied marketing strategies including advance sales, design enhancements and supporting infrastructure to attractively position its properties and capitalize on the growing market opportunity.
"With the real estate boom spreading to China's second and third tier cities, China HGS has a strong project pipeline under development and planning. The Company's standardized, scalable model emphasizes rapid asset turnover, efficient capital management and strict cost control," said Mr. Crocker Coulson, President of CCG Investor Relations. "We look forward to working with China HGS as it seeks to become the leading residential property developer in China's Tier III cities."
About CCG Investor Relations
CCG is one of the nation's leading investor relations and strategic communications agencies. In business for more than 30 years, the agency provides a complete range of investor communications and counseling services to nearly 80 clients across multiple capital markets. CCG has been awarded a number of industry honors for its handling of complex investor relations and crisis communications matters. The agency's corporate headquarters is in Los Angeles with additional offices in New York, San Francisco, Beijing, Shanghai, Frankfurt and Tel Aviv. For further information, contact CCG directly, or visit the Company's web sites at http://www.ccgir.com and http://www.ccgirasia.com .
About China HGS Real Estate Inc.
China HGS Real Estate Inc., through its wholly-owned subsidiary, Shaanxi Guangsha Investment and Development Group Co., Ltd., specializes in real estate development in China's second-tier and third-tier cities. The Company's real estate properties include multi-layer, sub-high-rise, and high-rise apartment buildings. The Company possesses the national grade II real estate qualification and was ranked as the No. 1 property developer in Hanzhong, Shaanxi Province in terms of market share in 2007 and 2008 successively.
Forward-looking Statements:
This press release contains certain statements that may include 'forward-looking statements'. All statements other than statements of historical fact included herein are 'forward-looking statements'. These forward looking statements are often identified by the use of forward-looking terminology such as 'believes,' 'expects' or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website http://www.sec.gov . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Mr. Ran Xiong, Deputy GM
Email: xr968@163.net
Tel: +86-916-2622612
Investor Relations Contact:
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Tel: +1-646-213-1915 (NY office)
