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Green Giant Inc. (formerly known as China HGS Real Estate, Inc.), a company engaged in real estate development and green energy business, reported its financial performance for the quarter ended December 31, 2023. The company's revenue for the quarter was $183,469, a 12.8% increase from the same period in the previous year, primarily from the sale of completed condominium real estate projects. Cost of sales decreased by 16.6% to $108,682, resulting in a gross profit of $74,787 and a gross margin of 40.4%. Operating expenses, however, increased significantly by 391.8% to $2,986,460, mainly due to share-based compensation to consultants. This led to a net loss of approximately $2.9 million for the quarter. The company's cash and restricted cash balance stood at approximately $7.2 million, an increase from the previous quarter. Green Giant Inc. continues to focus on its existing construction projects and is exploring opportunities in the green energy sector in the U.S. The company's management concluded that internal controls over financial reporting were not effective due to identified material weaknesses.
Green Giant Inc. (formerly known as China HGS Real Estate, Inc.), a company engaged in real estate development and green energy business, reported its financial performance for the quarter ended December 31, 2023. The company's revenue for the quarter was $183,469, a 12.8% increase from the same period in the previous year, primarily from the sale of completed condominium real estate projects. Cost of sales decreased by 16.6% to $108,682, resulting in a gross profit of $74,787 and a gross margin of 40.4%. Operating expenses, however, increased significantly by 391.8% to $2,986,460, mainly due to share-based compensation to consultants. This led to a net loss of approximately $2.9 million for the quarter. The company's cash and restricted cash balance stood at approximately $7.2 million, an increase from the previous quarter. Green Giant Inc. continues to focus on its existing construction projects and is exploring opportunities in the green energy sector in the U.S. The company's management concluded that internal controls over financial reporting were not effective due to identified material weaknesses.
從事房地產開發和綠色能源業務的綠色巨人公司（前身爲中國HGS房地產有限公司）公佈了截至2023年12月31日的季度財務業績。該公司本季度的收入爲183,469美元，比去年同期增長12.8％，主要來自已完成的公寓房地產項目的出售。銷售成本下降了16.6％，至108,682美元，毛利潤爲74,787美元，毛利率爲40.4％。但是，運營支出大幅增長了391.8％，達到2,986,460美元，這主要是由於向顧問提供的基於股份的薪酬。這導致本季度淨虧損約290萬美元。該公司的現金和限制性現金餘額約爲720萬美元，比上一季度有所增加。Green Giant Inc. 繼續專注於其現有建築項目，並正在探索美國綠色能源領域的機會。該公司的管理層得出結論，由於已發現重大缺陷，對財務報告的內部控制無效。
從事房地產開發和綠色能源業務的綠色巨人公司（前身爲中國HGS房地產有限公司）公佈了截至2023年12月31日的季度財務業績。該公司本季度的收入爲183,469美元，比去年同期增長12.8％，主要來自已完成的公寓房地產項目的出售。銷售成本下降了16.6％，至108,682美元，毛利潤爲74,787美元，毛利率爲40.4％。但是，運營支出大幅增長了391.8％，達到2,986,460美元，這主要是由於向顧問提供的基於股份的薪酬。這導致本季度淨虧損約290萬美元。該公司的現金和限制性現金餘額約爲720萬美元，比上一季度有所增加。Green Giant Inc. 繼續專注於其現有建築項目，並正在探索美國綠色能源領域的機會。該公司的管理層得出結論，由於已發現重大缺陷，對財務報告的內部控制無效。
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