After cost of sales of $7,360,000 and operating expenses of $1,853,094, SHGT recorded net income of approximately $2,929,320
Taipei, Taiwan -- (SBWIRE) -- 01/15/2015 -- Success Holding Group International Inc.(SHGT OTC: QB) has filed its Quarterly Report on Form 10-Q together with financial statements for the nine-month period ended November 30, 2014 with the United States Securities and Exchange Commission.
At November 30, 2014, SHGT earned gross revenue of $12,250,000. After cost of sales of $7,360,000 and operating expenses of $1,853,094, SHGT recorded net income of approximately $2,929,320. At November 30, 2014, SHGT current assets were $2,976,296 and its current liabilities were $85,233 resulting in a working capital surplus of $2,885,237.
Based on its financial performance, management of SHGT is cautiously optimistic and believes SHGT will be increasing its assets during the next quarter with potential estimated revenue of $18,000,000 and forecast net profit EPS between $ 0.4 to 0.5.
SHGT has changed its fiscal year end to December 31st.
Future Business Operations
SHGT is currently seeking and identifying private and public companies in Asia as acquisition and merger candidates. SHGT is currently trading on the USA OTC markets and is now forecasting pretax earnings of $0.5~$0.6 per share. It is Mr. Chen's vision to have SHGT listed on the Frankfurt Stock Exchange soon and AMEX in the near future. This will give SHGT leverage to acquire more valuable companies in Asia. Mr. Chen and SHGT will focus on integration of chain stores and brand names, IOT (Internet of Things), alternative energy technology, internet and logistics. Mr. Chen stated "Through the newly structured public company, we will be able to pursue more aggressively to acquire quality companies in Asia. We have plans to invest or acquire up to 30 companies within the next ten to fifteen years, and our shareholders should be able to reap the benefit of the higher growth potential in the Asia region.
SHGT- Investor Relations
M & T Business Consultants Inc.
Tel: 1 855-465-9520 Toll Free or 1-778 397-8700
SHGT Website: www.shgtusa.com