Gold Horse International, Inc. Updates Status of Key Construction Projects for 2008
14 8월 2008 - 8:00PM
PR Newswire (US)
Project Values Total $80.1 Million; Total Net Profit $8.0 million
HOHHOT, China, Aug. 14 /Xinhua-PRNewswire-FirstCall/ -- Gold Horse
International, Inc., (OTC:GHII) (BULLETIN BOARD: GHII) ("Gold
Horse" or "the Company"), a multifaceted business group that
operates, controls and beneficially owns construction, hotel and
real estate development businesses in Inner Mongolia, the People's
Republic of China ("PRC"), today provided an update on three key
construction projects in Inner Mongolia that are scheduled for
completion in 2008. The total value of these projects is RMB 548.6
million ($80.1 million), with an expected net profit of RMB 54.4
million ($8.0 million). The Tian Fu Garden residential project,
valued at RMB 232.5 million ($34.2 million), contains 28 buildings
with construction area of 238,683 square meters. Jin Ma
Construction Co. Ltd. ("Jin Ma"), an entity controlled and operated
by Gold Horse, expects to complete Phase I of the Tian Fu Garden
residential project -- which began in March 2008 -- in October
2008. Phase II of the project contains 16 buildings with
construction area of 119,415 square meters. Phase II construction
began in April 2008 and is expected to be completed in November
2008. Net profit for both phases of the Tian Fu Garden residential
project is expected to be RMB 22.2 million ($3.3 million). The He
Ban Garden residential project, valued at RMB 200 million ($29.4
million), contains nine apartment buildings covering 119,731 square
meters of construction area. After successful completion of the
Phase I project, Jin Ma was contracted to build Phase II of the
project and started construction in March 2008. Jin Ma aims to
complete the He Ban Garden residential project in November 2008.
Net profit for the project is expected to be approximately RMB 20
million ($2.9 million). The Ai Bo Garden residential apartment
project, valued at RMB 116.1 million ($17.1 million), contains 11
buildings with construction area of 119,936 square meters. Jin Ma
began construction on the Ai Bo Garden project in April 2008 and
expects to complete the project in November 2008. Net profit for
the Ai Bo Garden residential apartment project is expected to be
RMB 12.2 million ($1.8 million). "We are pleased to announce the
expected completion dates for these key projects, which meet the
rapidly growing need for quality residential housing in Inner
Mongolia. As one of the leading construction companies in Hohhot,
we are dedicated to completing our projects on schedule and to the
highest standards," said Mr. Liankuang Yang, chairman and CEO of
Gold Horse. "We are also excited to announce that we are
anticipating new construction projects in the pipeline for the
upcoming months due to our solid relationship with our customers."
About Gold Horse International, Inc. Gold Horse International,
Inc., through its wholly owned subsidiaries, Gold Horse
International, Inc. (Nevada) and Global Rise International Ltd.,
controls and operates Inner Mongolia Jin Ma Construction Co., Ltd.,
Inner Mongolia Jin Ma Hotel Co., Ltd., and Inner Mongolia Jin Ma
Real Estate Development Co., Ltd., all based in Hohhot, the
regional capital of Inner Mongolia Autonomous Region in the
People's Republic of China. Jin Ma Construction has been providing
construction and general contractor services in Hohhot to both
private developers and the local and regional governments since
1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a
full- service, two-star hotel located in Hohhot. Jin Ma Real Estate
develops residential and commercial properties in Hohhot. For more
information, visit http://www.goldhorseinternational.com/ . Safe
Harbor Statement This release contains certain "forward-looking
statements" relating to the business of the Company and its
subsidiary companies. These forward looking statements are often
identified by the use of forward-looking terminology such as
"believes, expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Investors 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 Web site ( http://www.sec.gov/ ).
All forward-looking statements attributable to the Company or to
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:
Gold Horse International, Inc. Mr. Adam Wasserman, CFO Tel:
+1-800-867-0078 Email: Web: http://www.goldhorseinternational.com/
CCG Investor Relations Mr. Crocker Coulson, President Tel:
+1-646-213-1915 Email: Web: http://www.ccgir.com/ DATASOURCE: Gold
Horse International, Inc. CONTACT: Gold Horse International, Inc. -
Mr. Adam Wasserman, CFO, +1- 800-867-0078, or ; CCG Investor
Relations - Mr. Crocker Coulson, President, +1-646-213-1915, or Web
Site: http://www.goldhorseinternational.com/ http://www.ccgir.com/
Copyright