WEB NEWS Comments & Business Outlook
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Nine months ended Mar 31
2015
2014
USD
USD
Net revenue
- 3,207,437
Cost of revenues
- (3,182,084 )
Gross profit
- 25,353
Costs and expenses:
Selling, general and administrative expenses
(14,040 ) (1,873,772 )
Impairment of goodwill
- -
Exchange differences
-
Amortization of intangible assets
- 0
Total costs and expenses
(14,040 ) (1,873,772 )
Loss from operations
(14,040 ) (1,848,419 )
Interest income
- 126
Interest expenses
- (329,837 )
Bad debts recovery
Other income (loss), net
- 787,115
fit /(Loss) before income taxes, minority interests and equity in earnings of associated companies
(14,040 ) 4,571,404
Income taxes
0 0
Loss before minority interests and equity in earnings of associated companies
(14,040 ) (1,391,015 )
Minority interests
- (5,650 )
Net profit / (loss)
(14,040 ) 2,188,576
Net loss per common share-basic and diluted
0.00012 0.00002
Weighted average number of common shares outstanding-basic and diluted
113,278,358 2,188576
Management Discussion and Analysis
Net Revenues
As of June 30, 2014, the Company has completely disposed the entire paper business in the APT group of companies located at Shenzhen, Suzhou and Qingdao. There are no net revenues geneated from the operation during the nine months ended March 31, 2015.
Total net revenues decreased to $0 during the three months ended March 31, 2015, as compared to $19K during the nine months ended March 31, 2014. The decrease in total net revenues was primarily due to the Company has completely disposed the entire paper business in the APT group of companies located at Shenzhen, Suzhou and Qingdao.
The Company had net loss of $0K during the nine months ended March 31, 2015, as compared to a net profit of $25K during the nine months ended March 31, 2014.
Comments & Business Outlook
Three months ended Dec 31
2014
2013
USD
USD
Net revenue
- 1,504,850
Cost of revenues
- (1,472,235 )
Gross profit
- 32,615
Costs and expenses:
Selling, general and administrative expenses
30,006 (415,132 )
Impairment of goodwill
- -
Exchange differences
- (681 )
Amortization of intangible assets
- 0
Total costs and expenses
30,006 (415,813 )
Loss from operations
30,006 (383,198 )
Interest income
- 4-
Interest expenses
- (156,182 )
Bad debts recovery
Other income (loss), net
- 795,888
Profit /(Loss) before income taxes, minority interests and equity in earnings of associated companies
30,006- 256,512
Income taxes
0 0
Loss before minority interests and equity in earnings of associated companies
30,006 256,512
Minority interests
- (5,684 )
Net profit / (loss)
30,006 250,828
Net loss per common share-basic and diluted
0.0009 0.00002
Weighted average number of common shares outstanding-basic and diluted
35,149,362 9,321,520,657
Comments & Business Outlook
Three months ended Sept 30,
2014
2013
USD
USD
Net revenue
- 1,504,850
Cost of revenues
- (1,472,235 )
Gross profit
- 32,615
Costs and expenses:
Selling, general and administrative expenses
10,096 (415,132 )
Impairment of goodwill
- -
Exchange differences
- (681 )
Amortization of intangible assets
- 0
Total costs and expenses
10,096 (415,813 )
Loss from operations
10,096 (383,198 )
Interest income
- -
Interest expenses
- (156,182 )
Bad debts recovery
Other income (loss), net
- 795,888
Profit /(Loss) before income taxes, minority interests
and equity in earnings of associated companies
10,096 256,512
Income taxes
0 0
Loss before minority interests and equity in
earnings of associated companies
10,096 256,512
Minority interests
- (5,684 )
Net profit / (loss)
10,096 250,828
Net loss per common share-basic and diluted
0.0006567 0.00002
Weighted average number of common shares
outstanding-basic and diluted
15,373,155 9,321,520,657
Management Discussion and Analysis
Revenue
Net revenues for the three months ended September 30, 2014 were derived principally from sales of paper products of APT Paper Group Limited and agricultural products wholesale by Shaanxi Prosperous Agriculture Company Limited.
Total net revenues decreased to $0 during the three months ended September 30, 2014, as compared to $1,505K during the three months ended September 30, 2013. The decrease in total net revenues was primarily due to the Company has completely disposed the entire paper business in the APT group of companies located at Shenzhen, Suzhou and Qingdao.
The Company had net loss of $10K during the three months ended September 30, 2014, as compared to a net profitof $251K during the three months ended September 30, 2013.
Comments & Business Outlook
FOR THE YEARS ENDED JUNE 30, 2014 AND 2013
(Stated in US Dollars)
Notes
2014
2013
Net revenues
2(m)
$ 3,635,296 $ 6,723,660
Cost of net revenues
(3,551,679 ) (6,613,338 )
Gross profit
$ 83,617 $ 110,332
Selling, general and administrative expenses
(4,431,506 ) (1,923,193 )
Loss from operations
$ (4,347,889 ) $ (1,812,871 )
Interest income
49 918
Interest expense
(347,363 ) (589,626 )
Other income
42,254 -
Other expenses
- (195,212 )
Bad debts written off
3(d)
- (744,749
$ (4,652,949 ) $ (3,341,540 )
Unusual items
Income/(loss) on disposal of subsidiaries
18 19,570,716 (10,711,377 )
Impairment on Goodwill
4 - -
Provision for impairment on intangible assets
9 - -
Income/(loss) before income taxes and minority interests
$ 14,917,767 $ (14,052,917 )
Income taxes
14 - -
Net income/(loss) before minority interests
$ 14,917,767 $ (14,052,917
Non-control interest
(720,973 ) -
Net income/(loss)
$ 14,196,794 $ (14,052,917 )
Net income/(loss) per share:
-Basic
$ 6.72 $ (10.85 )
-Diluted
$ 1.35 $ (10.85 )
Weighted average no. of common stock:
-Basic
2,113,030 1,295,022
Dilutive effect of convertible notes
8,396,200 -
-Diluted
10,509,230 1,295,022
Management Discussion and Analysis
Net revenues for the year ended June 30, 2014 decreased by $3,088K, or 45.93%, to $3,635K from $6,723K for the year ended June 30, 2013. The reasons for the decrease were due to the unsatisfactory operation efficiency and negative sales performance.
The net income increased from loss of $14,052,917 at 2013 to $14,197,015 at 2014 was derived from the 2014 net income from income before tax and minority interests net of $720,973 on written-off of 2014 minority interest to reflect the impairment of the investment in SPA group of companies.
Comments & Business Outlook
Three months ended March 31,
2014
2013
USD
USD
Net revenue
74,246 1,537,980
Cost of revenues
(37,819 ) (1,278,218 )
Gross profit
36,427 259,762
Costs and expenses:
Selling, general and administrative expenses
(205,744 ) (382,323 )
Impairment of goodwill
0 0
Exchange differences
0 (171 )
Amortization of intangible assets
0 0
Total costs and expenses
(205,744 ) (382,494 )
Loss from operations
(169,317 ) (122,732 )
Interest income
122 4
Interest expenses
3,056 (110,126 )
Bad debts recovery
Other income (loss), net
(7,236 ) (4,845 )
Profit /(Loss) before income taxes, minority interests
and equity in earnings of associated companies
(173,375 ) (237,699 )
Loss on disposal of subsidiaries
0 (6,613 )
Income taxes
0 0
Loss before non-controlling interests and equity in
earnings of associated companies
(173,375 ) (244,312 )
Non-controlling interests
52 0
Net profit / (loss)
(173,323 ) (244,312 )
Net loss per common share-basic and diluted
(0.091 ) (0.231 ) #
Weighted average number of common shares
outstanding-basic and diluted
1,904,522 1,057,606 #
Management Discussion and Analysis
Net Revenues
Net revenues for the three months ended March 31, 2014 were derived principally from sales of paper products of APT Paper Group Limited and agricultural products wholesale by Shaanxi Prosperous Agriculture Company Limited.
Total net revenues decreased to $74K during the three months ended March 31, 2014, as compared to $1,538K during the three months ended March 31, 2013. The decrease in total net revenues was primarily due to the reduction of revenue and closing down of two of the Company’s subsidiary independently operated APT Paper Group Limited paper factories located in Shenzhen and Suzhou. The remaining one independently operated APT Paper Group Limited paper factory located in Qingdao continue to operate normally.
The Company had net loss of $173K during the three months ended March 31, 2014, as compared to a net loss of $244K during the three months ended March 31, 2013.
Acquisition Activity
SHENZHEN, China , June 30, 2013 /PRNewswire / -- Uni Core Holdings Corporation (OTC Bulletin Board: "UCHC"), a Hong Kong based holding company, announces today that its acquisition of 51% of Shaanxi Prosperous Agriculture Co., Ltd. ("SPA"), an agricultural products wholesale company located in Xi'an City, Shaanxi Province of China , is completed through its 100% subsidiary IMOT Information Technology (Shenzhen ) Limited.
SPA specializes in market segment of which customers can buy the company's products through local stores in the agricultural products network.
SPA will be a subsidiary of UCHC after its acquisition and this deal is expected to benefit UCHC by opening the agricultural product market in Xi'an , Shaanxi, China with the PRC-based agriculture network in wholesale business and consultancy services.
With the Phyllite raw materials provided by JEWON, SPA can develop more farm products in China where both the market size and sales amount could be enormous.
Comments & Business Outlook
SHENZHEN, China , May 7, 2013 /PRNewswire / -- Uni Core Holdings Corporation (OTC Bulletin Board: "UCHC"), a Hong Kong based holding company, clarifies and clears the shareholders' concern that UCHC is a solid company with actual business operations and revenues.
Although it was and still is a very difficult situation financially due to the sub-standard performance of one our segments, APT Paper Group, management of UCHC continues to work hard to revitalize the company, including building up the farm business of the Shaanxi Prosperous Agriculture Company Limited.
Mr. James Wu , CEO of UCHC, is pleased to release the positive news that the Korean "Phyllite" has contributed greatly to building up the farm business and has been developed into various new products. Furthermore, a manufacturing facility can be built to handle the sub-contract work for other farm products, such as farm medicines for fish farms and animal farms, etc., which can be exported toJapan as well as distributed in the China market.
Management of UCHC further explained that UCHC is waiting for the completion of the U.S. Audit results. This is the reason why the farm business results have not been consolidated into the books of UCHC, although UCHC owns 51% controlling interest of the farm business. It is expected that the farm business results will be included in the next quarter report, in June 2013.
To summarize, UCHC is still very much alive and active, the management is working hard to try to rebuild the company back to a profitable company. Fund raising is critical to the pace of the farm business expansion or the business may move slower
Comments & Business Outlook
SHENZHEN, China, Aug. 24, 2012 /PRNewswire-Asia / -- Uni Core Holdings Corporation (OTC Bulletin Board: UCHC ), a Hong Kong based holding company, is excited to announce that Shaanxi Prosperous Agriculture Company Limited ("Prosperous Agriculture"), one of UCHC's subsidiaries, has signed an agreement with Inner Mongolia Liaozhongjing Chemical Industry Co., Ltd. ("Liaozhongjing") on patented technology development and national exclusive distribution of the Sustained-Released Diammonium Phosphate. Prosperous Agriculture becomes the exclusive distributor of this national patent winner, Sustained-Released Diammonium Phosphate, in the nation. It is expected to bring an increase of over RMB50 million sales (around US$8 million) to Prosperous Agriculture and the business is expected to achieve RMB300 million sales (around US$47 million) in 2013.
This product is the only Sustained-Released Diammonium Phosphate in the nation which has been granted the national patent, its social values and fertilizer efficiency are both superior to traditional diammonium. According to publicly available information from the Chinese Government, China's domestic annual sales of traditional Diammonium Phosphate is around 8 million tons; the market size is around RMB25 billion (around US$4 billion); if Prosperous Agriculture's exclusive national patent winning Sustained-Released Diammonium Phosphate is to replace 10% of the market, it will be a market of RMB2.5 billion (around US$400 million). Mr. Wang Fei, General Manager of Prosperous Agriculture, said, the cooperation with Liaonzhongjing is the perfect combination of patented technologies and market channels. With the vast experience in the market operation and channel management, Prosperous Agriculture, being the "Home Depot" in the field of agricultural resources distribution, is responsible for the nationwide promotion, sales and management of the Sustained-Released Diammonium Phosphate in the market; Liaozhongjing is responsible for the provision of patented technology and production, both Prosperous Agriculture and Liaozhongjing will market the product under the brand of "XiDuoFeng" across the nation.
Comments & Business Outlook
SHENZHEN, China , June 27, 2012 /PRNewswire-Asia / -- Uni Core Holdings Corporation (OTC Bulletin Board: "UCHC"), a Hong Kong based holding company, announced today that the Autumn corn-base fertilizer selling project work of five direct sales stores ( the Zu'An, Lao Dian, Da Wang, Jiang Cun and Zhong Nan stores in the Hu and Zhouzhi Counties of Shaanxi Province ) of Prosperous Agriculture Company Limited ("Prosperous Agriculture"), one of UCHC's subsidiaries, has been successfully completed up to the middle of June, achieving a total sales volume of 965 tons and around RMB3 million of sales turnover this quarter. The result highlights the advantage of the direct sales chain system, which sets a solid foundation for the next half year.
Prosperous Agriculture's outstanding sales results reflect its leading position in the market. The "One-Stop-Shop" procurement model shortens the number of steps in the process between manufacturers and farmers, allowing the farmers to enjoy a shopping experience based on effective pricing, authentic products and personalized service. The leading position of Prosperous Agriculture in the local market, the recognition of farmers and the advancement and innovation of its business model highlight the distinct dominance of the direct sales chain system and improves its competitiveness in the market.
Mr. Wu, manager of Prosperous Agriculture, said, "The essence of selling focuses on the work before making the sale; pre-sale promotion and publicity building represent 70% of the job; therefore, solid and serious planning and execution of pre-sale promotion is the most important task of the entire selling job. The first half year sales result of this year reflects the full market acceptance of the agricultural resources direct sales chain model."
Comments & Business Outlook
SHENZHEN, China , May 21, 2012 /PRNewswire-Asia / -- Uni Core Holdings Corporation (OTC Bulletin Board: UCHC), a Hong Kong based holding company, announced today that Shaanxi Prosperous Agriculture Company Limited ("Prosperous Agriculture"), one of UCHC's subsidiaries, opened two direct sales chain stores within 5 days in May. The grand opening of Prosperous Agriculture's Zhongnan chain store ("Zhongnan Store") was held on May 12 in Zhongnan Town of the Zhouzhi County, Shaanxi Province . The Jiangcun chain store ("Jiangcun Store") at Jiangcun Town of the Zhouzhi County, Shaanxi Province had its grand opening on May 16 as well.
More than 600 and 800 farmers visited the Zhongnan Store and Jiangcun Store, respectively, on their opening day to apply for membership. Zhongnan Store achieved a total turnover of more than RMB50,000 within 2 days whereas Jiangcun Store had a turnover exceeding RMB30,000 on its opening day. It is expected that these two stores can contribute a total of annual sales turnover of RMB4 million (around US$600,000 ), and a total profit of RMB800,000 (around US$120,000 ).
Comments & Business Outlook
SHENZHEN, China , March 27, 2012 /PRNewswire-Asia/ -- Uni Core Holdings Corporation (OTC Bulletin Board: UCHC), a Hong Kong based holding company, today announces that Shaanxi Prosperous Agriculture Company Limited ("Prosperous Agriculture"), one of UCHC's subsidiaries, has entered into cooperation agreements with three large-scale chain distributors in Henan and Hebei Provinces. The three large-scale chain distributors provide agricultural products to a large number of local markets selling agricultural resources and are industry leaders in terms of sales volume. As a part of the Prosperous Agriculture chain direct sales system, Prosperous Agriculture will initially provide training and integration process to these three distributors.
Mr. Wang Fei , General Manager of Prosperous Agriculture, said: "Both Henan and Hebei provinces are major agricultural provinces in China , accounting for a significant market share of agricultural resources and produce sales for all of China. The confirmation of the three large-scale chain distributors in these two provinces represents a solid step forward for Prosperous Agriculture's further implementation of its business model across China. Prosperous Agriculture intends to have consultancy co-operation arrangements with nine additional distributors by the end of 2012. Eventually, Prosperous Agriculture may invite the distributors who have cooperation agreements with Prosperous Agriculture to join the Prosperous Agriculture System: Aggregation of quality resources to lead to provide a national agricultural resources chain direct sales channel across China ."
Prosperous Agriculture is headquartered in Xi'an , Shaanxi Province , China and manufactures and distributes three agricultural brands: "XiDuoFeng", a biological fertilizer series that expands the utilization rate of conventional fertilizers, enhances quality of crops, and increases production with a bio-microbial agent produced by a proprietary bio-technology; "Urea-Extra", a long-lasting nitrogenous fertilizer series that increases the utilization rate of traditional nitrogenous fertilizer by more than 50%; and "Sirius" compound fertilizer series. Prosperous Agriculture has established a national agricultural resources chain direct sales platform through the opening and acquiring of agricultural resources direct sales outlets and dealers, and by working with well-known manufacturers of agricultural products. Prosperous Agriculture integrated more than 2,000 agricultural resources sales outlets, located in areas including Shaanxi , Henan , Shandong , Hebei , Shanxi , Gansu , Ningxia and Xinjiang.
Comments & Business Outlook
SHENZHEN, China , March 19, 2012 /PRNewswire-Asia / -- Uni Core Holdings Corporation (OTC Bulletin Board: UCHC), a Hong Kong based holding company, today introduces Shaanxi Prosperous Agriculture Company Limited's ("Prosperous Agriculture"), one of UCHC's subsidiaries, strategy for expansion of its agricultural resources chain channel to cover the entire nation of China .
Prosperous Agriculture is headquartered in Xi'an , Shaanxi Province , China . Prosperous Agriculture manufactures and distributes three agricultural brands: "XiDuoFeng", a biological fertilizer series that expands the utilization rate of conventional fertilizers, enhances quality of crops, and increases production with a bio-microbial agent produced by a proprietary bio-technology; "Urea-Extra", a long-lasting nitrogenous fertilizer series that increases the utilization rate of traditional nitrogenous fertilizer by more than 50%; and "Sirius" compound fertilizer series. Prosperous Agriculture has established a national agricultural resources chain direct sales platform through the opening and acquiring of agricultural resources direct sales outlets and dealers, and by working with well-known manufacturers of agricultural products. Prosperous Agriculture integrated more than 2,000 agricultural resources sales outlets, located in areas including Shaanxi , Henan , Shandong , Hebei , Shanxi , Gansu , Ningxia and Xinjiang.
Prosperous Agriculture plans to open at least 10 additional direct sales chain stores this year. UCHC believes that when these 10 additional stores are fully operational, the annual sales may reach a turnover of RMB15 million (around US$2.4 million ) with a profit of about RMB3 million (around US$480,000 ). However, there can be no assurance that the sales and profits are actually achieved. Furthermore, Prosperous Agriculture plans to open at least 9 direct sales chain stores through training and integrating all levels of distributors across all provinces of China .
Mr. Wang Fei , General Manager of Prosperous Agriculture, said: "The agricultural market in China is already RMB 1 trillion . The traditional and out-dated wholesale-type sales channels can no longer meet the market demand. Prosperous Agriculture intends to transform the current traditional 3-tier wholesale model to a one-stop direct sales chain mode, by establishing additional owned direct sales chain stores and by implementing training of distributors. Stores will either be acquired or invited to join the direct sales chain system of Prosperous Agriculture as co-operatives, in order to achieve national coverage rapidly."
Acquisition Activity
SHENZHEN, China , January 23, 2012 /PRNewswire-Asia / -- Uni Core Holdings Corporation (OTC Bulletin Board: "UCHC") a Hong Kong based holding company, announced today that it has obtained the consent of the Chinese Government to increase its ownership of Shaanxi Prosperous Agriculture Limited Company ("Prosperous Agriculture ") by 30% to 51% . UCHC acquired 21% of Prosperous Agriculture in December 2010 .
Prosperous Agriculture is headquartered in Xi'an , Shaanxi Province , China . Prosperous Agriculture manufactures and distributes three agricultural brands: "XiDuoFeng", a biological fertilizer series that expands the utilization rate of conventional fertilizers, enhances quality of crops, and increases production with a bio-microbial agent produced by a proprietary bio-technology; "Urea-Extra", a long-lasting nitrogenous fertilizer series that increases the utilization rate of traditional nitrogenous fertilizer by more than 50%; and "Sirius" compound fertilizer series. Prosperous Agriculture also establishes a national agricultural resources chain direct sales platform through the opening and acquiring of agricultural resources direct sales outlets and dealers, and by working with well-known manufacturers of agricultural products. Prosperous Agriculture integrated more than 2,000 agricultural resources sales outlets, located in areas including Shaanxi , Henan , Shandong , Hebei , Shanxi , Gansu , Ningxia and Xinjiang. The platform covers the agricultural resources sales channels nationally through the call centers and e-commerce network. With the gradual expansion of direct sales outlets, Prosperous Agriculture will form one of the largest marketing systems of direct sales chain of China . There are more than 200 agricultural resources dealers and more than 20,000 points of sale in China that sell Prosperous Agriculture's products, forming one of the largest distribution platform covering China 's rural markets.
Comments & Business Outlook
HONG KONG , December 5, 2011 /PRNewswire-Asia / -- Uni Core Holdings Corporation (the "Company" or "UCHC") (OTCBB: UCHC.OB), a Hong Kong based holding company, announced today that first quarter (July 1 to September 30, 2011 ) sales revenue of its wholly owned paper subsidiary APT Paper Group ("APT") were $6.266 million , an increase of 36% as compared with the same quarter last year. Based upon proprietary technology, production, marketing and global supply chains, APT is one of the leaders of the modern green packing and honeycomb paper products industry in China . Some of APT's customers include Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, Hisense, among others.
Thomas Lee , Chief Operating Officer and Chief Financial Officer of UCHC, said, "The financial results of our paper subsidiary, APT, are quite encouraging, especially in the current global economic conditions. APT has been able to garner new customers and expand organically primarily due to its unique and environmentally friendly recycled and recyclable products."
Financials
Year Ended March 31,
2008
2009
2010
(Proforma)
(Proforma)
Consolidated Income Statement
Revenue
87,176 1,482 71,810
Cost of Revenue
(89,327 ) (6,678 ) (64,342 )
Gross Profits(Loss)
(2,151 ) (5,196 ) 7,468
Expenses
(345,113 ) (1,195,026 ) (770,656 )
Interest (net of interest expenses)
1,917 (241 ) 517
Other Income
271,102 145 326,523
Operating from continue operation before income tax
(74,245 ) (1,200,318 ) (436,147 )
Income tax
- - -
Net Loss
(74,245 ) (1,200,318 ) (436,147 )
Earnings Per Share - Basic
(0.00074 ) (0.0120 ) (0.0042 )
Earnings Per Share - Diluted
(0.00074 ) (0.0120 ) (0.0042 )
Weighted Average Number of basic shares outstanding
100,000,000 100,000,000 103,645,274
Weighted Avenue Number of dilute shares outstanding
100,000,000 100,000,000 103,645,274
Joint Venture
China Equity Platform registers shares. Formed via a joint venture with a shell company.
Company Snapshot :
High-tech financial services provider based in the People’s Republic of China
Post Registration Share Calculation:
112,315,000: Pre reverse merger outstanding shares
50,840,000: Shares offered by selling shareholders
0: Shares offered by Company
GeoTeam® best effort calculation of total post reverse merger shares assuming full conversions: 112,315,000
Financial Snapshot:Company 2009 annual revenues were under $1.0 million.
