Qilian International Holding Group Limited (Nasdaq: QLI) (the
“Company”), a China-based pharmaceutical and chemical products
manufacturer, today announced its unaudited financial results for
the first six months of fiscal year 2021 ended March 31, 2021.
Mr. Zhanchang Xin, Chairman and CEO of the
Company, commented, “We are pleased with our financial results for
the first six months of fiscal year 2021. Our revenue increased by
8% to $29.9 million, which we believe demonstrates our continuous
growth potential.”
“Looking forward, we believe our heparin product
will benefit from the current market trend. Driven by the
increasing demand for clinical anticoagulants globally, the export
price of raw material medicine heparin soared, rising by nearly
269% year-on-year in June 2021, setting a record high. The
production volume of heparin raw materials in China ranks first in
the world, and the supply of heparin raw materials from producers
in China accounts for about 50% of global demand. After our new pig
by-product processing facility is built and put into operations, it
will further boost our production capability of heparin sodium
preparations. We expect to seize market opportunities and continue
expanding our capabilities as we see some return to normalcy in our
everyday lives. We remain focused on driving momentum in our
business that will strive to achieve sustainable development and
create long term value for our shareholders, ” Mr. Xin added.
Financial Highlights for the Six Months
Ended March 31, 2021
|
|
For the Six Months Ended March
31, |
|
($’000,
except per share data) |
|
2021 |
|
|
2020 |
|
|
% Change |
|
Revenue |
|
$ |
29,939 |
|
|
$ |
27,759 |
|
|
|
8 |
% |
Gross profit |
|
$ |
4,091 |
|
|
$ |
6,228 |
|
|
|
(34 |
)% |
Gross margin |
|
|
13.7 |
% |
|
|
22.4 |
% |
|
|
(9 |
)% |
Income from operations |
|
$ |
2,272 |
|
|
$ |
4,793 |
|
|
|
(53 |
)% |
Net income |
|
$ |
2,245 |
|
|
$ |
4,183 |
|
|
|
(46 |
)% |
Net Income attributable to
Qilian International Holding Group Limited (“Qilian
International”) |
|
$ |
2,351 |
|
|
$ |
3,858 |
|
|
|
(39 |
)% |
Basic and diluted earnings per
share |
|
$ |
0.07 |
|
|
$ |
0.13 |
|
|
|
(46 |
)% |
|
● |
Revenue increased by 8% year-over-year to $29.9 million for the six
months ended March 31, 2021 from $27.8 million for the same period
of the prior fiscal year. The increase in revenue is primarily
attributable to the increased revenue from the sales of
oxytetracycline products and the appreciation Renminbi (“RMB”)
against U.S. dollars (“USD”). |
|
|
|
|
● |
Gross profit decreased by 34% to $4.1 million for the six months
ended March 31, 2021 from $6.2 million for the same period of the
prior fiscal year. Gross margins were 13.7% and 22.4% for the six
months ended March 31, 2021 and 2020, respectively. The decreased
gross profit was mainly due to decreased gross margin from licorice
products, the selling price of which has decreased significantly
compared to the six months ended March 31, 2020. |
|
|
|
|
● |
Income from operations was $2.3 million for the six months ended
March 31, 2021, compared to income from operations of $4.8 million
for the same period of the prior fiscal year, due to the decrease
of gross profit. |
|
|
|
|
● |
Net income was $2.2 million for the six months ended March 31,
2021, compared to net income of $4.2 million for the same period of
the prior fiscal year mainly due to the decreased gross margin
described above. |
|
|
|
|
● |
Net income attributable to Qilian International was $2.4 million or
earnings per share of $0.07 for the six months ended March 31,
2021, compared to net income attributable to Qilian International
of $3.9 million, or earnings per share of $0.13, for the same
period of the prior fiscal year. |
Unaudited Financial
Results for the Six months ended March 31, 2021
Revenue
For the six months ended March 31, 2021, revenue
increased by $2.1 million, or 8%, to $29.9 million from $27.8
million for the same period of the prior fiscal year. The increase
was mainly due to the sales increase from oxytetracycline products,
licorice products and traditional Chinese medicine derivatives
(“TCMD”), as well as the appreciation of RMB to USD, from 1 USD =
7.0126 RMB for the six months ended March 31, 2020.
For the six months ended March 31, 2021, revenue
from oxytetracycline products, licorice products and traditional
Chinese medicine derivatives (“TCMD”) increased by $2.8 million.
The increase was primarily due to an increase of oxytetracycline
products sold. The increase in oxytetracycline products revenues
was due to the four newly added customers which contributed $1.6
million in the six months ended March 31, 2021. In addition, the
sales quantity increased due to the recovery of the market from the
impact of the COVID-19 pandemic. For the six months ended March 31,
2020, due to the outbreak of COVID-19 in China, the Company’s sales
were affected by the lock down of the economy.
For the six months ended March 31, 2021, revenue
from heparin products, sausage casings and fertilizer decreased by
$0.6 million, which is normal fluctuation in the Company’s business
operations.
Cost of revenue
Cost of revenue increased by $4.3 million, or
20%, to $25.8 million for the six months ended March 31, 2021 from
$21.5 million for the same period of the prior fiscal year. The
increase in overall cost of revenue was mainly due to the following
reasons: (1) increase of sales from oxytetracycline products,
licorice products and TCMD, which increased cost of revenue by $3.8
million; and (2) appreciation of RMB against USD, from an average
exchange rate of 1 USD = 7.0126 RMB for the six months ended March
31, 2020 to an average exchange rate of 1 USD = 6.5541 for the six
months ended March 31, 2021.
Gross profit
Gross profit decreased by $2.1 million, or 34%,
to $4.1 million for the six months ended March 31, 2021 from $6.2
million for the same period of the prior fiscal year. As a result,
gross margin percentage decreased to 13.7% for the six months ended
March 31, 2021 from 22.4% for the same period of the prior fiscal
year.
Gross profit margin for oxytetracycline
products, licorice products and TCMD decreased by 9.2% for the six
months ended March 31, 2021 as a result of the decreased selling
price for licorice products in the current year, compared to the
same period of prior year, as the price went up last year due to
the shortage of supply and restraint from logistics as affected by
the COVID-19 pandemic. For the six months ended March 31, 2021, the
Company lowered the selling price by almost 10%, with only 4% drop
of the cost per unit sold, compared to the same period of last
year. In addition, gross margin for heparin and sausage casing
products decreased by 8.8% for the six months ended March 31, 2021
compared to the same period of prior year. As the demand for these
products was not as strong as the Company expected, in order to
increase the cash flow as well as decrease inventory close to shelf
life, the Company sold its heparin and sausage casing products at
lower prices.
Selling, General and Administrative Expenses
Selling, general and administrative expenses
were $1.8 million for the six months ended March 31, 2021,
representing an increase of approximately $0.4 million, or 27%,
from $1.4 million for six months ended March 31, 2020. The increase
was mainly attributable to increased salary paid to board of
directors of approximately $0.2 million.
Income before income taxes
Income before income taxes was $2.5 million for
the six months ended March 31, 2021, compared to income before
income taxes of $4.9 million for the same period of the prior
fiscal year.
Net income and net income attributable to Qilian
International
Net income was $2.2 million for the six months
ended March 31, 2021, compared to net income of $4.2 million for
the same period of the prior fiscal year. After deducting
non-controlling interests, net income attributable to Qilian
International was $2.4 million for the six months ended March 31,
2021, compared to net income attributable to Qilian International
of $3.9 million for the same period of the prior fiscal year.
Earnings per share-basic and diluted
After deducting non-controlling interests,
earnings per share attributable to the Company was $0.07 per basic
and diluted share, for the six months ended March 31, 2021,
compared to earnings per share of $0.13 per basic and diluted
share, for the same period of the prior fiscal year.
Weighted average number of shares outstanding
was 32,428,571 for the six months ended March 31, 2021, compared to
30,000,000 for the same period of last fiscal year.
Financial Condition
As of March 31, 2021, the Company had cash of
$20.3 million, compared to $11.9 million as of September 30, 2020.
Total working capital was $45.3 million as of March 31, 2021,
compared to $19.1 million as of September 30, 2020.
Net cash provided by operating activities was
$9.7 million for the six months ended March 31, 2021, compared to
net cash provided by operating activities of $5.3 million for the
same period last year. Despite the decrease of net income, the net
cash provided by operating activities increased due to the $6.1
million increase of cash from bank acceptance notes receivable.
Net cash used in investing activities was $21.1
million for the six months ended March 31, 2021, compared to net
cash used in investing activities $0.1 million for the same period
last year. The increase was due to $20 million cash used in
investment made for marketable securities.
Net cash provided by financing activities was
$19.4 million for the six months ended March 31, 2021, compared to
net cash provided by financing activities $2.1 million for the same
period of last year. The increase was mainly due to the cash of
$24.0 million received from ordinary shares issued in the Company’s
initial public offering, offset by $4.6 million decrease of net
cash provided from bank loans.
About Qilian International Holding Group
Limited
Qilian International Holding Group Limited,
headquartered in Gansu, China, is a pharmaceutical and chemical
products manufacturer in China. It focuses on the development,
manufacture, marketing and sale of licorice products,
oxytetracycline products, traditional Chinese medicine derivatives
product, heparin product, sausage casings, and fertilizers. The
Company’s products are sold in more than 20 provinces in China. For
more information, visit the company’s website
at http://ir.qlsyy.net/.
Forward-Looking Statements
This announcement contains forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy, financial
needs and the successful construction of the pig by-product
processing project facility. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company’s registration statement and in its
other filings with the SEC.
For more information, please
contact:
Qilian International Holding Group
LimitedEmail: ir@qlsyy.net
Ascent Investors Relations LLCTina XiaoPresidentPhone:
917-609-0333Email: tina.xiao@ascent-ir.com
Qilian International Holding Group Limited and
Subsidiaries |
Condensed Consolidated Balance Sheets
(unaudited) |
|
|
|
|
|
|
As of |
|
|
|
March 31, |
|
|
September 30, |
|
|
|
2021 |
|
|
2020 |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
CURRENT
ASSETS: |
|
|
|
|
|
|
|
|
Cash and cash
equivalent |
|
$ |
20,312,619 |
|
|
$ |
11,867,130 |
|
Accounts receivable, net |
|
|
170,495 |
|
|
|
1,118,476 |
|
Short term investment |
|
|
20,000,000 |
|
|
|
- |
|
Bank acceptance notes
receivable |
|
|
3,875,350 |
|
|
|
11,498,075 |
|
Inventories, net |
|
|
12,810,203 |
|
|
|
11,994,471 |
|
Advances to suppliers,
net |
|
|
1,106,428 |
|
|
|
491,827 |
|
Other current assets |
|
|
230,511 |
|
|
|
547,443 |
|
TOTAL CURRENT
ASSETS |
|
|
58,505,606 |
|
|
|
37,517,422 |
|
|
|
|
|
|
|
|
|
|
Property and equipment,
net |
|
|
8,189,517 |
|
|
|
7,419,028 |
|
Intangible assets, net |
|
|
1,925,967 |
|
|
|
1,881,722 |
|
Long term investment |
|
|
596,988 |
|
|
|
540,517 |
|
Operating lease right of use
assets |
|
|
211,772 |
|
|
|
243,874 |
|
Deferred tax assets |
|
|
410,925 |
|
|
|
361,250 |
|
Security deposit |
|
|
200,859 |
|
|
|
179,325 |
|
TOTAL ASSETS |
|
$ |
70,041,634 |
|
|
$ |
48,143,138 |
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES: |
|
|
|
|
|
|
|
|
Bank loans |
|
$ |
3,050,408 |
|
|
$ |
7,349,375 |
|
Accounts payable |
|
|
5,368,120 |
|
|
|
4,377,712 |
|
Advance from customers |
|
|
2,702,266 |
|
|
|
3,511,198 |
|
Advance from customers -
related parties |
|
|
18,302 |
|
|
|
33,152 |
|
Deferred government grants -
current |
|
|
380,603 |
|
|
|
384,802 |
|
Taxes payable |
|
|
1,085,894 |
|
|
|
1,383,182 |
|
Operating lease liabilities,
current |
|
|
118,457 |
|
|
|
82,468 |
|
Accrued expenses and other
payables |
|
|
520,878 |
|
|
|
1,301,882 |
|
TOTAL CURRENT
LIABILITIES |
|
|
13,244,928 |
|
|
|
18,423,771 |
|
|
|
|
|
|
|
|
|
|
LONG TERM
LIABILITIES |
|
|
|
|
|
|
|
|
Operating lease liabilities,
noncurrent |
|
|
101,755 |
|
|
|
155,723 |
|
Deferred government grants -
noncurrent |
|
|
553,680 |
|
|
|
722,137 |
|
|
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES |
|
|
13,900,363 |
|
|
|
19,301,631 |
|
|
|
|
|
|
|
|
|
|
Commitments and
contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY: |
|
|
|
|
|
|
|
|
Ordinary Shares, $0.00166667
par value, 100,000,000 shares authorized, 35,750,000 and 30,000,000
Ordinary Shares issued and outstanding as of March 31, 2021 and
September 30, 2020 , respectively |
|
|
59,583 |
|
|
|
50,000 |
|
Additional paid-in
capital |
|
|
36,621,050 |
|
|
|
12,252,077 |
|
Statutory Reserve |
|
|
2,816,692 |
|
|
|
2,200,786 |
|
Retained earnings |
|
|
13,932,050 |
|
|
|
12,197,372 |
|
Accumulated other
comprehensive loss |
|
|
390,076 |
|
|
|
(602,001 |
) |
Total shareholders’ equity
attributable to Qilian International |
|
|
53,819,451 |
|
|
|
26,098,234 |
|
Noncontrolling interests |
|
|
2,321,820 |
|
|
|
2,743,273 |
|
TOTAL
EQUITY |
|
|
56,141,271 |
|
|
|
28,841,507 |
|
TOTAL LIABILITIES AND
EQUITY |
|
$ |
70,041,634 |
|
|
$ |
48,143,138 |
|
Qilian International Holding Group Limited and
Subsidiaries |
Condensed Consolidated Statements of Income and
Comprehensive Income (unaudited) |
|
|
|
|
|
|
For the six months ended March 31, |
|
|
|
2021 |
|
|
2020 |
|
|
|
|
|
|
|
|
NET
REVENUE |
|
$ |
29,939,173 |
|
|
$ |
27,758,814 |
|
|
|
|
|
|
|
|
|
|
COST OF
REVENUE |
|
|
25,848,510 |
|
|
|
21,530,973 |
|
|
|
|
|
|
|
|
|
|
GROSS
PROFIT |
|
|
4,090,663 |
|
|
|
6,227,841 |
|
|
|
|
|
|
|
|
|
|
SELLING, GENERAL AND
ADMINISTRATIVE EXPENSES |
|
|
1,818,722 |
|
|
|
1,434,898 |
|
|
|
|
|
|
|
|
|
|
INCOME FROM
OPERATIONS |
|
|
2,271,941 |
|
|
|
4,792,943 |
|
|
|
|
|
|
|
|
|
|
Other Income (Expenses) |
|
|
|
|
|
|
|
|
Interest expense |
|
|
(80,387 |
) |
|
|
(110,251 |
) |
Other income |
|
|
330,290 |
|
|
|
215,788 |
|
Total Other income
(expense) |
|
|
249,903 |
|
|
|
105,537 |
|
|
|
|
|
|
|
|
|
|
INCOME BEFORE INCOME
TAX PROVISION |
|
|
2,521,844 |
|
|
|
4,898,480 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR INCOME
TAXES |
|
|
276,517 |
|
|
|
715,101 |
|
|
|
|
|
|
|
|
|
|
NET
INCOME |
|
|
2,245,327 |
|
|
|
4,183,379 |
|
|
|
|
|
|
|
|
|
|
Less: net income (loss)
attributable to non-controlling interest |
|
|
(105,257 |
) |
|
|
325,249 |
|
|
|
|
|
|
|
|
|
|
NET INCOME
ATTRIBUTABLE TO QILIAN INTERNATIONAL HOLDING GROUP
LIMITED |
|
$ |
2,350,584 |
|
|
$ |
3,858,130 |
|
|
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE
INCOME |
|
|
|
|
|
|
|
|
Foreign currency translation
adjustment |
|
|
1,084,823 |
|
|
|
110,067 |
|
COMPREHENSIVE
INCOME |
|
|
3,330,150 |
|
|
|
4,293,446 |
|
Less: comprehensive income
(loss) attributable to non-controlling interests |
|
|
(12,511 |
) |
|
|
340,536 |
|
COMPREHENSIVE INCOME
ATTRIBUTABLE TO QILIAN INTERNATIONAL HOLDING GROUP
LIMITED |
|
$ |
3,342,661 |
|
|
$ |
3,952,910 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share -
basic and diluted |
|
$ |
0.07 |
|
|
$ |
0.13 |
|
Weighted average shares -
basic and diluted |
|
|
32,428,571 |
|
|
|
30,000,000 |
|
Qilian International Holding Group Limited and
Subsidiaries |
Condensed Consolidated Statements of Cash flows
(unaudited) |
|
|
|
For the six months ended March 31 |
|
|
|
2021 |
|
|
2020 |
|
|
|
|
|
|
|
|
Cash flows from
operating activities: |
|
|
|
|
|
|
Net
Income |
|
$ |
2,245,327 |
|
|
|
4,183,379 |
|
Adjustments to
reconcile net income to net cash provided by (used in)
operating activities: |
|
|
|
|
|
|
|
|
Amortization of the
Right-of-use assets |
|
|
62,410 |
|
|
|
- |
|
Depreciation and
amortization |
|
|
590,489 |
|
|
|
577,860 |
|
Provision of doubtful
accounts |
|
|
(21,357 |
) |
|
|
26,796 |
|
Inventory reserve |
|
|
350,186 |
|
|
|
(36,210 |
) |
Deferred tax expense |
|
|
(36,090 |
) |
|
|
32,811 |
|
Investment income |
|
|
(5,768 |
) |
|
|
531 |
|
Changes in operating
assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
1,009,208 |
|
|
|
(2,390,190 |
) |
Bank acceptance notes
receivable |
|
|
8,058,486 |
|
|
|
1,948,153 |
|
Inventories |
|
|
(714,555 |
) |
|
|
2,195,464 |
|
Advances to suppliers |
|
|
(596,309 |
) |
|
|
(771,020 |
) |
Other current assets |
|
|
325,467 |
|
|
|
(138,014 |
) |
Accounts payable |
|
|
827,898 |
|
|
|
13,778 |
|
Advance from customers |
|
|
(941,445 |
) |
|
|
(1,698,831 |
) |
Advance from customers -
related parties |
|
|
(16,103 |
) |
|
|
(2,210 |
) |
Deferred revenue |
|
|
(214,402 |
) |
|
|
(200,740 |
) |
Tax payables |
|
|
(349,482 |
) |
|
|
1,563,764 |
|
Accrued expenses and other
payables |
|
|
(830,314 |
) |
|
|
(12,038 |
) |
Operating lease
liabilities |
|
|
(48,068 |
) |
|
|
- |
|
Net cash provided
by operating activities |
|
|
9,695,578 |
|
|
|
5,293,283 |
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities: |
|
|
|
|
|
|
|
|
Purchase of property and
equipment |
|
|
(1,053,496 |
) |
|
|
(215,696 |
) |
Purchase of intangible
assets |
|
|
(1,798 |
) |
|
|
(8,791 |
) |
Proceeds from (Payment made
for) long term investment |
|
|
(30,369 |
) |
|
|
57,041 |
|
Investment made for marketable
securities |
|
|
(20,000,000 |
) |
|
|
- |
|
Net cash used in
investing activities |
|
|
(21,085,663 |
) |
|
|
(167,446 |
) |
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities: |
|
|
|
|
|
|
|
|
Proceeds from bank loans |
|
|
7,628,812 |
|
|
|
2,139,007 |
|
Repayment of bank loans |
|
|
(12,206,100 |
) |
|
|
- |
|
Cash receipts from equity
issuance, net of issuance cost |
|
|
23,967,441 |
|
|
|
|
|
Net cash provided by
financing activities |
|
|
19,390,153 |
|
|
|
2,139,007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange
rate change on Cash |
|
|
445,421 |
|
|
|
(47,347 |
) |
|
|
|
|
|
|
|
|
|
Net increase
(decrease) in cash and cash equivalents |
|
|
8,445,489 |
|
|
|
7,217,497 |
|
Cash and cash
equivalents at beginning of period |
|
|
11,867,130 |
|
|
|
4,594,440 |
|
Cash and cash
equivalents at end of period |
|
$ |
20,312,619 |
|
|
|
11,811,937 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental cash flow
information |
|
|
|
|
|
|
|
|
Cash paid for
interest |
|
$ |
147,230 |
|
|
$ |
124,955 |
|
Cash paid for income
taxes |
|
$ |
136,415 |
|
|
$ |
149,879 |
|
Qilian International Holding Group
Limited and Subsidiaries
Condensed Consolidated Statements of
Changes in Equity (unaudited)
|
|
Ordinary Shares |
|
|
Additional Paid-in Capital |
|
|
RetainedEarnings |
|
|
Statutory Reserve |
|
|
Accumulated
OtherComprehensiveIncome |
|
|
Shareholders'Equity |
|
|
Non-controllingInterests |
|
|
Total Equity |
|
Balance at September
30, 2019 |
|
|
50,000 |
|
|
$ |
12,252,077 |
|
|
$ |
7,560,631 |
|
|
$ |
1,773,817 |
|
|
$ |
(1,743,175 |
) |
|
$ |
19,893,350 |
|
|
$ |
2,744,576 |
|
|
$ |
22,637,926 |
|
Capital contribution from
shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
- |
|
Net income for the year |
|
|
|
|
|
|
|
|
|
|
3,858,130 |
|
|
|
|
|
|
|
|
|
|
|
3,858,130 |
|
|
|
325,249 |
|
|
|
4,183,379 |
|
Appropriation for statutory
reserve |
|
|
|
|
|
|
|
|
|
|
(426,671 |
) |
|
|
426,671 |
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
- |
|
Stock dividend appropriation
to shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
- |
|
Cash dividend paid to
shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
- |
|
Foreign currancy translation
adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
94,780 |
|
|
|
94,780 |
|
|
|
15,287 |
|
|
|
110,067 |
|
Balance at March 31,
2020 |
|
$ |
50,000 |
|
|
$ |
12,252,077 |
|
|
$ |
10,992,090 |
|
|
$ |
2,200,488 |
|
|
$ |
(1,648,395 |
) |
|
$ |
23,846,260 |
|
|
$ |
3,085,112 |
|
|
$ |
26,931,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at September
30, 2020 |
|
$ |
50,000 |
|
|
$ |
12,252,077 |
|
|
$ |
12,197,372 |
|
|
$ |
2,200,786 |
|
|
$ |
(602,001 |
) |
|
$ |
26,098,234 |
|
|
$ |
2,743,273 |
|
|
$ |
28,841,507 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock issued in initial
public offering |
|
|
9,583 |
|
|
|
23,960,031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,969,614 |
|
|
|
|
|
|
|
23,969,614 |
|
Non controlling interest
transaction |
|
|
|
|
|
|
408,942 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
408,942 |
|
|
|
(408,942 |
) |
|
|
- |
|
Net income for the year |
|
|
|
|
|
|
|
|
|
|
2,350,584 |
|
|
|
|
|
|
|
|
|
|
|
2,350,584 |
|
|
|
(105,257 |
) |
|
|
2,245,327 |
|
Acquisition of Noncontrolling
interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
Appropriation for statutory
reserve |
|
|
|
|
|
|
|
|
|
|
(615,906 |
) |
|
|
615,906 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
Foreign currancy translation
adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
992,077 |
|
|
|
992,077 |
|
|
|
92,746 |
|
|
|
1,084,823 |
|
Balance at March 31,
2021 |
|
$ |
59,583 |
|
|
$ |
36,621,050 |
|
|
$ |
13,932,050 |
|
|
$ |
2,816,692 |
|
|
$ |
390,076 |
|
|
$ |
53,819,451 |
|
|
$ |
2,321,820 |
|
|
$ |
56,141,271 |
|
Qilian (NASDAQ:QLI)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Qilian (NASDAQ:QLI)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024