Announcement • Apr 20
Green Giant Inc.(OTCPK:GGEI) dropped from NASDAQ Composite Index Green Giant Inc. has been dropped from NASDAQ Composite Index Reported Earnings • Feb 06
First quarter 2024 earnings released: US$0.023 loss per share (vs US$0.011 loss in 1Q 2023) First quarter 2024 results: US$0.023 loss per share (further deteriorated from US$0.011 loss in 1Q 2023). Net loss: US$2.91m (loss widened 407% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 17 percentage points per year, which is a significant difference in performance. Announcement • Jan 19
Listing Qualifications Staff Determines to Delist Green Giant's Common Stock from Nasdaq Capital Market, Unless Company Timely Requests an Appeal of Staff’s Determination, Before Nasdaq’s Hearing Panel, by January 23, 2024 On January 16, 2024, Green Giant Inc. (the “Company”) received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) Listing Qualifications Staff (the “Staff”) stating that the Staff has determined, unless the Company timely requests an appeal of the Staff’s determination, before Nasdaq’s Hearing Panel (the “Panel”), by January 23, 2024, to delist the Company’s common stock from the Nasdaq Capital Market because the Company is not in compliance with the $1.00 minimum bid price requirement (the “Minimum Bid Price”) for continued listing set in the Nasdaq Listing Rule 5550(a)(2) and had a closing bid price of $0.10 or less for at least ten consecutive trading days from December 22, 2023 to January 12, 2024 set in Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”). The notice has no immediate impact on the Company's listing and trading, as the Company intends to request a hearing before the Panel by January 23, 2024. Such request will stay any suspension or delisting action by Nasdaq pending the completion of the hearing process There can be no assurance that the Panel will grant the Company's request for additional time to demonstrate compliance of continued listing requirement or that the Company will be able meet the continued listing requirement during any compliance period or in the future. If the Panel does not grant the Company's request for additional time, its common stock will be subject to delisting and the liquidity and marketability of the Company's common stock would be adversely affected. This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a delisting notification. Reported Earnings • Dec 29
Full year 2023 earnings released: US$2.00 loss per share (vs US$2.99 loss in FY 2022) Full year 2023 results: US$2.00 loss per share. Net loss: US$110.1m (loss widened 1.8% from FY 2022). New Risk • Dec 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 124% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.7m free cash flow). Share price has been highly volatile over the past 3 months (42% average weekly change). Earnings have declined by 87% per year over the past 5 years. Shareholders have been substantially diluted in the past year (124% increase in shares outstanding). Market cap is less than US$10m (US$6.73m market cap). Minor Risk Revenue is less than US$5m (US$1.9m revenue). Announcement • Dec 13
Green Giant Inc. has completed a Composite Units Offering. Green Giant Inc. has completed a Composite Units Offering.
Security Name: Common Units
Security Type: Equity/Derivative Unit
Securities Offered: 35,000,000
Price\Range: $0.17
Security Name: Pre-Funded Units
Security Type: Unspecified Unit New Risk • Dec 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$8.48m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.7m free cash flow). Share price has been highly volatile over the past 3 months (41% average weekly change). Earnings have declined by 87% per year over the past 5 years. Market cap is less than US$10m (US$8.48m market cap). Minor Risks Shareholders have been diluted in the past year (38% increase in shares outstanding). Revenue is less than US$5m (US$1.9m revenue). Announcement • Oct 17
Green Giant Inc., Annual General Meeting, Nov 17, 2023 Green Giant Inc., Annual General Meeting, Nov 17, 2023, at 10:00 US Eastern Standard Time. Location: 6 Xinghan Road, 19th Floor, Hanzhong City, Shaanxi Province, PRC 723000 Hanzhong China Agenda: To elect Yuhuai Luo, Jian Zhang, Xinping Li, Rongrong Dai, and Qingfeng Zhou as directors; to ratify the appointment of OneStop Assurance PAC (OneStop) as our independent registered public accountants for the fiscal year ending September30, 2023; to authorize and approve the Company's 2023 Equity Incentive Plan, as amended, (the Plan or the 2023 Equity Incentive Plan); and to consider other matters. Announcement • Oct 05
Green Giant Receives a Written Notice from the Listing Qualifications Department of the Nasdaq Stock Market On October 2, 2023, Green Giant Inc. received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market indicating that the Company is not in compliance with the Nasdaq Listing Rules as a result of not having held an annual meeting of stockholders within 12 months of the end of the Company’s fiscal year on September 30, 2022. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. The Notice states that, under the Rules, the Company has 45 calendar days to submit a plan to regain compliance with the Rules. The Company intends to submit a plan to regain compliance with the Rules within the required timeframe. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the Company’s fiscal year end, or until March 28, 2024, to regain compliance. The Notice further states that in determining whether to accept the Company’s plan, Nasdaq will consider such things as the likelihood that the annual meeting can be held within the 180-day period, the Company’s past compliance history, the reasons for the delayed meeting, other corporate events that may occur during the review period, the Company’s overall financial condition and its public disclosures. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel. New Risk • Aug 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$6.7m free cash flow). Earnings have declined by 87% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (38% increase in shares outstanding). Revenue is less than US$5m (US$1.9m revenue). Market cap is less than US$100m (US$77.2m market cap). New Risk • Aug 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$97.1m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 84% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (38% increase in shares outstanding). Revenue is less than US$5m (US$2.6m revenue). Market cap is less than US$100m (US$97.1m market cap). Reported Earnings • May 07
Second quarter 2023 earnings released: US$0.023 loss per share (vs US$0.021 profit in 2Q 2022) Second quarter 2023 results: US$0.023 loss per share (down from US$0.021 profit in 2Q 2022). Net loss: US$1.31m (down 278% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 161 percentage points per year, which is a significant difference in performance. Board Change • Apr 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Xinping Li is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Dec 30
Green Giant Inc. announced delayed annual 10-K filing On 12/29/2022, Green Giant Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Nov 18
Green Giant Inc. Appoints Junaid Ali as CEO of Its Wholly Owned Subsidiary Green Giant LLC Green Giant Inc. announced appointment of Mr. Junaid Ali as CEO of its wholly owned subsidiary Green Giant LLC to spearhead its effort to explore green energy section in the U.S. Mr. Junaid Ali has decades of experience in the development of multi-million dollar energy projects ranging from power utility sector to oil and gas business in four different continents. He started his career with Cummins as a project engineer and ultimately became a project manager in their power generation business from 2006 to 2011. He then joined APR Energy in 2011 as a senor project manager and moved up to be a project director in power delivery with General Electric in 2015. While at GE, he led strategic GE Power Conversion utility-scale solar and industrial sector projects, managed a cross-functional team to deliver global projects and was selected to lead the project with NextEra Energy Resources. After GE, he founded Prismecs LLC. Mr. Ali, via Prismecs LLC, has provided efficient, cost-effective industrial services and supply chains solutions. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairman of the Board, CEO & President Neng Chen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Sep 04
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairman of the Board, CEO & President Neng Chen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jun 14
Green Giant Inc., Annual General Meeting, Jun 24, 2022 Green Giant Inc., Annual General Meeting, Jun 24, 2022, at 10:00 China Standard Time. Location: 6 Xinghan Road, 19th Floor, Hanzhong City, Shaanxi Province, PRC 723000 Hanzhong city Shaanxi Province China Agenda: To elect Neng Chen, Jian Zhang, Xinping Li, Rongrong Dai, and Qingfeng Zhou as directors; to ratify the appointment of Wei, Wei & Co., LLP as the company's independent registered public accountants for the fiscal year ending September 30, 2022; to authorize and approve the Company’s 2022 Equity Incentive Plan, as amended; to approve an amendment to the Company’s Amended and Restated Articles of Incorporation increasing the number of authorized shares of common stock from 50,000,000 shares to 200,000,000 shares; and to transact such other business that may properly come before the meeting or at any adjournment thereof. Announcement • Mar 03
China HGS Real Estate Inc. Announces Board Changes China HGS Real Estate Inc. announced that on February 23, 2022, Ms. Shenghui Luo resigned from her position as an Independent Director of the Board. Effective February 23, 2022, the Board appointed Mr. Jian Zhang as an Independent Director of the Board to fill the vacancy created by the resignation of Ms. Shenghui Luo. Mr. Jian Zhang has served as the head of Greater China of Shanghai Branch of Standard International Bank of United States since December 2020. From November 2017 to December 2020, Mr. Zhang served as a vice president of China Industrial GuoXin Asset Management Co. Ltd. From December 2015 to November 2017, Mr. Zhang served as a vice president of sub-branch of Shanghai Branch of China Construction Bank. Announcement • Feb 15
China HGS Real Estate Inc. announced delayed 10-Q filing On 02/14/2022, China HGS Real Estate Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jan 28
China Hgs Real Estate Inc. Announces Board Changes China HGS Real Estate Inc. announced that Mr. Yuankai Wen resigned from his positions as an Independent Director of the Board and as the Chairman of the Compensation Committee of the Board, and member of the Audit Committee and Nominating Committee of the Board. Mr. Yuankai Wen’s resignation is not as a result of any disagreement with the Company relating to its operations, policies or practices. Effective January 24, 2022, the Board appointed Mr. Qingfeng Zhou as an Independent Director of the Board and as the Chairman of the Compensation Committee and member of the Audit Committee and Nominating Committee of the Board to fill the vacancy created by the resignation of Mr. Yuankai Wen. Mr. Qingfeng Zhou, has served as the owner of Cangze Consulting & Co. since March 2018. Since April 2016 and March 2016, Mr. Zhou has served as an overseas director of Engas Australasia Pty. Ltd. and a supervisor of Sinuo Investment Management Ltd., respectively. Announcement • Jan 05
China HGS Real Estate Inc. announced delayed annual 10-K filing On 01/03/2022, China HGS Real Estate Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Dec 10
Goldenmountain Solution Inc. entered into a share purchase agreement to acquire a 58.2% stake in China HGS Real Estate Inc. (NasdaqCM:HGSH) from Xiaojun Zhu and Rising Pilot, Inc. Goldenmountain Solution Inc. entered into a share purchase agreement to acquire a 58.2% stake in China HGS Real Estate Inc. (NasdaqCM:HGSH) from Xiaojun Zhu and Rising Pilot, Inc. on October 22, 2021. Shares will acquired for an aggregate purchase price equal to the market value of the Shares as of the date of this Agreement. Under the transaction, Xiaojun Zhu and Rising Pilot, Inc. will sell 7,000,000 shares and 7,900,000 shares in China HGS Real Estate respectively. Transaction is subject to customary closing conditions. Announcement • Feb 18
China HGS Real Estate Inc. announced delayed 10-Q filing On 02/16/2021, China HGS Real Estate Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jan 01
China HGS Real Estate Inc. announced delayed annual 10-K filing On 12/31/2020, China HGS Real Estate Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Oct 05
China HGS Real Estate, Inc. Launches the Construction of the Liangzhou Road Real Estate Project China HGS Real Estate Inc. announced that the company started land leveling process for the Oriental Garden Phase II and Liangzhou Mansion real estate properties in the Liangzhou road real estate project. The Liangzhou road real estate project is planned to include three major real estate properties, including Oriental Garden Phase II, consisting of 8 high-rise residential buildings and 6 commercial buildings with total planned GFA of 370,298 square meters, Liangzhou Mansion project, consisting of 7 high-rise building and commercial shops with total planned GFA of 160,000 square meters and Pearl Commercial Plaza, consisting of one office building, one service apartment, classical architecture style of Chinese traditional houses and shopping malls with total planned GFA of 124,191 square meters. Based on the current progress, the company expects to launch the substantial construction of Liangzhou Road real estate project in the end of October 2020. Announcement • Sep 05
NASDAQ Notified China HGS Real Estate on Bid Price of Its Listed Securities On June 21, 2019, NASDAQ notified China HGS Real Estate Inc. that the bid price of its listed securities had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, did not comply with Listing Rule 5550(a)(2). Therefore, in accordance with Listing Rule 5810(c)(3)(A), the company was provided 180 calendar days, or until December 18, 2019, to regain compliance with the Rule. Subsequently, on December 19, 2019, the company was provided an additional 180 calendar day compliance period, or until June 15, 2020, to demonstrate compliance. However, on April 16, 2020, given the extraordinary market conditions, NASDAQ had determined to toll the compliance periods for bid price and market value of publicly held shares requirements through June 30, 2020.1 Accordingly, the company was provided until August 31, 2020 to regain compliance. The company did not regain compliance with Listing Rule 5550(a)(2) by August 31, 2020. Accordingly, its securities will be delisted from the NASDAQ Capital Market. The company’s common stock will begin trading on the NASDAQ Capital Market on a split-adjusted basis on Wednesday, September 2, 2020. Announcement • Aug 15
China HGS Real Estate Inc. announced delayed 10-Q filing On 08/14/2020, China HGS Real Estate Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.