Boyuan Construction Group Inc fka BOY

[zoroo]

Is Boyuan Construction Group a fraud ?

Boyuan Construction Announces Completion of Private Placement

On December 5, 2019, the Company announced that it has closed a non-brokered private placement of 5,255,765 common shares at a price of C$0.31
per share for gross proceeds of C$1,629,287.

On December 31, 2019, the company announced that it has closed a non-brokered private placement of 1,100,000 common shares at a price of C$0.31 per share for gross proceeds of C$341,000.

Why would the company raise capital when in the most recent financial statements ended septembre 30, 2019, its says in the balance sheet that it has 18,267,871$ (US$) in cash and cash equivalent ?

Why is it short in cash when in the last quarter it is supposed to have made 5,765,352$ in cash flows from operation and 5,851,757$ from investing activities ?

Why does it need to dilute its shareholders capital when the financial statements show that it is flushed with money ?

Why did it deactivate its web site www.boyurangroup.com to replace it with the address www.boyuangroup.cn ?

It doesn't make sense.

[Renee]

Boyuan Construction Group Inc. added to the OTC, ticker BYGRF.

http://otce.finra.org/DLAdditions

[otterman]

Re: PM

Yeah its just bizarre. Theyre going so well but due to their low share count theyve fallen below the benchmark to remain on the TSE. So what are they to do? Issue more dilutive shares? I know that when the filings are cleared up this will boom, but there's alwas that chance that it wont work out.

I have sold out for the time being.

Note the story on this page that China's economy is perking up!

[otterman]

Boyuan Initiates Construction on Two New Projects Totaling US$35.3 Million

Monday, August 13, 2012

- US$29.3 million project located in Hainan Lingshui County represents a new market for Boyuan -

TORONTO, Aug. 13, 2012 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY, BOY.DB, BOY.DB.A) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has initiated construction on two new projects with a total value of US$35.3 million.

The first project is a residential development located in Hainan Lingshui County, a new market for the Company, and consists of 30 villas and two 12-story condominiums. The project has a gross construction area of 110,000 square metres and is valued at US$29.3 million. Completion date is still under negotiation.

The second project is a commercial tower located in Hiayan County, Jiaxing, one of Boyuan's core markets. The commercial tower is 21 stories high, totaling 23,000 square metres and is valued at US$6.0 million. The expected date of completion is in the first quarter of calendar 2014.

"We have been very selective recently with the projects we have considered for construction, ensuring maximum profitability, due to the current economic situation and tighter liquidity for property developers in China," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "Despite that, the initiation of these two new projects, one in a core market and one in a new market, demonstrate there are still plenty of quality opportunities for us to choose from as we remain cautious during this uncertain economic time."

Lingshui is located in the southeast part of Hainan Island. Launched in 2009, China's International Tourist Destination Policy is aimed at fostering Hainan Island's economic growth and development. As part of the goal to turn Hainan Island into a major international tourism destination, a tax-free shopping plan for foreign travelers was implemented effective January 1, 2011.



About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2011, Boyuan completed more than 80 projects for a number of private and public sector clients. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com.



Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2011 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

SOURCE: Boyuan Construction Group, Inc.

For further information:

Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

TMX Equicom
Philip Dale
[phone] ext. 253
[e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=[phone]&archive=cnw&slug=C6691

[otterman]

Boyuan Reports Third Quarter FY2012 Financial Results

Tuesday, May 15, 2012

- Revenue decrease result of strategic decision to slow growth and conserve cash -

TORONTO, May 15, 2012 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY, BOY.DB, BOY.DB.A) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, reported today its financial results for the three- and nine- month periods ended March 31, 2012. All figures are in U.S. dollars unless otherwise stated.

Selected Q3 2012 Financial Highlights

In thousands except share and % data Q3 FY2012 Q3 FY2011 Change
Revenue $38,737 $41,042 -5.6%
Gross profit $6,302 $6,935 -9.1%
Gross profit margins 16.3% 16.9%
EBITDA1 $5,089 $5,891 -13.6%
Net income $2,186 $3,145 -30.5%
Earnings per share - diluted $0.08 $0.10 -20.0%
Mar. 31, 2012 June 30, 2011
Total Assets $175,017 $139,573 +25.4%
Cash and cash equivalents $3,236 $6,314 -48.7%

"This quarter's financial results reflect our strategic decision to be more selective of the projects we accept in an effort to be more conservative with our cash flow management," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "The number of opportunities to take on new projects has not decreased and the demand for our services remains consistently strong. Given the current uncertainty surrounding property developers in China, the tight liquidity they are experiencing and the near-term cash flow obligations we face, management has taken a more conservative approach when deciding both the number of and type of new projects to take on, thus, lessening the demands of capital required when initiating new projects."

Q3 FY2012 Operational and Financial Highlights

•Revenue of $38.7 million, down 5.6% from $41.0 million in Q3 FY2011
•EBITDA of $5.1 million, down 13.6% from $5.9 million in Q3 FY2011
•Net earnings of $2.2 million, down 30.5% from $3.1 million in Q3 FY2011
•Repaid $1.3 million of the 11.75% debentures as a result of some holders exercising their early redemption rights.
•$44.2 million worth of projects initiated to date for the current fiscal year
•Over $240 million in project backlog
Review of Financial Results

Revenue for the three-month period ended March 31, 2012 was $38.7 million, down 5.6% from $41.0 million for the same period in FY2011. Revenue for the first nine months of FY2012 was $146.4 million, an increase of 13.0% from $129.6 million for the same period of FY2011. Boyuan recognizes revenue on the percentage-of-completion method.

Given the uncertainty in the property market in China and the relatively tight liquidity situations the developers are facing at the moment, the Company has taken a more conservative approach in taking on new projects thus resulting to smaller revenue in this quarter.

The year-over-year growth in revenue for the nine-month period was primarily attributable to an increase in the number of successful project bids with higher contract value by the Company, principally from projects initiated from previous year.

Cost of construction for Q3 FY2012 was $32.4 million, down 5.0% from $34.1 million for Q3 FY2011. Cost of construction for the first nine months of FY2012 was $123.4 million, an increase of 14.3% from $108.0 million for the corresponding period of FY2011.

Cost of construction includes all direct material, labor, subcontract and other related costs, such as equipment repairs. The two major components of the cost of construction are direct material and labour costs. Direct material costs were $23.5 million and labour costs were $8.1 million in this quarter. In comparison, direct material costs and labour costs were $22.9 million and $9.5 million in the same quarter last year.

Gross profit for Q3 FY2012 was $6.3 million, which represented a margin of 16.3% on revenue. Gross profit for the corresponding period of last year was $6.9 million, which represented a margin of 16.9% on revenue. The slight year-over-year decline in gross margins was attributable to a higher than average gross profit margin in Q3 FY2011 as there were several projects which yielded a higher than normal gross margin. Historically, Boyuan's gross profit margins have been in the range of 15% to 16%. On a nine-month basis, gross profit for FY2012 was $23.0 million, which represented a margin of 15.7% on revenue. In the same period of FY2011, gross profit and gross margins were $21.6 million and 16.7%, respectively.

G&A expenses were $1.2 million in Q3 FY2012 compared to $1.0 million in Q3 FY2011. G&A expenses for the nine-month period ended March 31, 2012 were $3.3 million representing an increase of $0.3 million in the same period last year. The small increase in G&A expenses in this quarter were a result of increases in office administrative costs such as insurance and audit fees.

Interest expense for Q3 FY2012 was $1.6 million, an increase of $1.1 million over last year. The increase was primarily due to two items, an increase in bank loans and bank notes payable needed to compensate for the slightly slower payment cycles from our customers and to the Company's convertible debenture issued in October 2010.

The Company also incurred a minimum total return (MTR) recovery of $0.12 million in this quarter. The Company incurred a MTR charge of $0.31 million in the same quarter last year. The MTR charges recorded in the past were non-cash accrued expenses based on calculations on respective quarter ends and year ends. MTR charges were determined based on the provisions of previous financing activities. Investors of the Company's convertible debentures issued on February 2009 were entitled to a MTR right of 25% per annum on their units. The calculation is based upon the twenty day volume weighted average price of the Company's common shares, less interest paid or payable on the convertible debentures, calculated on the first, second and third anniversary of February 27, 2009 and payable, if triggered, on February 27, 2012. The actual MTR payable determined on February 27, 2012 was $2.3 million. The recovery of $0.1 million recorded in Q3 2012 was the difference between the actual payable amount and the accrued charge recorded in the past.

After-tax net income for Q3 FY2012 was $2.2 million, or $0.08 per fully diluted share, compared to net income of $3.2 million, or $0.10 per fully diluted share, for Q3 FY2011. The decrease was principally due to lower revenues, higher interest expense and a smaller valuation gain on the 11.75% debenture, partially offset by smaller share based compensation expense and MTR expenses. On a nine-month basis, net income for FY2012 was $8.1 million or $0.31 per share fully diluted. This compares to a net income of $9.3 million, or $0.37 per share fully diluted, for the same period of FY2011.

The Company had working capital of $71.0 million, including cash and cash equivalents of $3.3 million for the period ended March 31, 2012. This compares to $63.3 million and $6.3 million, respectively, at June 30, 2011. The increase in working capital is due to the contribution of net earnings and improved working capital management.

Outlook

"Our core markets remain relatively strong," added Mr. Shou. "However, in the short-term we expect to continue our conservative approach in taking on new projects in order to build up our cash position. This will increase our financial flexibility and allow us to meet our short-term cash obligations while the uncertainty continues in the property developer market."

Boyuan's consolidated statements for the three-and nine- month periods ended March 31, 2012 and related management's discussion and analysis (MD&A) will be filed with securities regulatory authorities within applicable timelines and will be available via SEDAR at www.sedar.com.

Conference Call Notice

The Company will hold a conference call to discuss its fiscal Q3 FY2012 financial results on May 16, 2012 at 10:00 a.m. ET. Mr. Paul Law, Boyuan's Chief Financial Officer, will host the call.

All interested parties can join the call by dialing 647-427-7450 or 1-888-231-8191. Please dial in 15 minutes prior to the call to secure a line.

The conference call will be archived for replay until May 23, 2012 at midnight. To access the archived conference call, please dial 1-855-859-2056 or 416-849-0833 and enter the reservation number 78091504#.

A live audio webcast of the conference call will be available from the investor relations section of the Company's website, www.boyuangroup.com, or from www.newswire.ca. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above web site for 30 days.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2011, Boyuan completed more than 80 projects for a number of private and public sector clients. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com.

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2011 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

__________________________

1 EBITDA is defined as earnings before interest, income taxes, depreciation and amortization. EBITDA is not a defined performance measure under IFRS.

For further information:


Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

TMX Equicom
Philip Dale
[phone] ext. 253
[e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=[phone]&archive=cnw&slug=C7969

[otterman]

Boyuan Initiates New US$23.9 Million Project in Sanya, Hainan Island

Wednesday, February 22, 2012

TORONTO, Feb. 22, 2012 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY, BOY.DB, BOY.DB.A) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has initiated construction on a five star hotel complex located in Sanya, a city on Hainan Island, one of Boyuan's core markets. The hotel complex consists of three buildings totaling 107,000 square metres and is valued at US$23.9 million.

"The initiation of construction of this first class hotel complex in one of our core markets is an example of how, regardless of tighter liquidity for property developers and a slight slowdown in the general economy, there remains an abundance of high value opportunities for us," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "We expect to grow at our usual historical rates, however, as we continue to monitor the current economic and market conditions we will be very selective in the projects we choose to bid on to ensure maximum profitability."

Completion of Boyuan's new project is expected in the third quarter of calendar 2012.

Launched in 2009, China's International Tourist Destination Policy is aimed at fostering Hainan Island's economic growth and development. As part of the goal to turn Hainan Island into a major international tourism destination, a tax-free shopping plan for foreign travelers was implemented effective January 1, 2011.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2011, Boyuan completed more than 80 projects for a number of private and public sector clients. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup.

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2011 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

For further information:

Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

TMX Equicom
Philip Dale
[phone] ext. 253
[e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=[phone]&archive=cnw&slug=C6212

[otterman]

Boyuan Reports Record Second Quarter FY2012 Financial Results
Tuesday, February 14, 2012

- Revenue increases 19%, EBITDA increases 14% -

TORONTO, Feb. 14, 2012 /CNW/ - Boyuan Construction Group, Inc., TSX: BOY, BOY.DB, BOY.DB.A) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, reported today its financial results for the three- and six-month periods ended December 31, 2011. All figures are in U.S. dollars unless otherwise stated.

Selected Fiscal Year Financial Highlights

In thousands except share and % data Q2 FY2012 Q2 FY2011 Change
Revenue $54,295 $45,465 +19.4%
Gross profit $8,736 $7,592 +15.1%
Gross profit margins 16.1% 16.7%
EBITDA1 $7,580 $6,662 +13.8%
Net income $3,050 $3,325 -8.2%
Earnings per share - diluted $0.11 $0.14 -21.4%
Dec. 31, 2011 June 30, 2011
Total Assets $166,451 $139,573 +19.3%
Cash and cash equivalents $3,985 $6,314 -36.9%

"The second quarter of fiscal 2012 was the best second quarter, in terms of revenue and EBITDA, in our Company's history," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "We grew revenue by 19% and EBITDA by 14% during the quarter showing that despite a slight slowing of real estate markets in tier two cities demand for our construction services in our core markets, which now include Shandong province and new markets within Hainan Island, remains strong and is fuelling our growth. Our net income was slightly lower than last year as financing charges for funds to be used for new projects was higher. The revenue and income from those new projects will be realized in the near future."

Q2 FY2012 Operational and Financial Highlights

Record Q2 revenue of $54.3 million, up 19% from $45.5 million in Q2 FY2011
Record Q2 EBITDA of $7.6 million, up 14% from $6.7 million in Q2 FY2011
Q2 net earnings of $3.1 million, down 8% from $3.3 million in Q2 FY2011
Current backlog of projects worth over $287 million
$44.2 million worth of projects initiated to date for the current fiscal year
Initiated a residential construction project located in Haikou, Hainan Island valued at $23.6 million
Initiated a residential construction project located in Weifang, Shandong Province valued at $12.6 million
Commenced a Normal Course Issuer Bid
Review of Financial Results

Revenue for the three-month period ended December 31, 2011 was $54.3 million, up 19.4% from $45.5 million for the same period in FY2011. Revenue for the first six months of FY2012 was $107.6 million, an increase of 21.6% from $88.5 million for the same period of FY2011. Boyuan recognizes revenue on the percentage-of-completion method.

The year-over-year growth in revenue was primarily attributable to an increase in the number of successful project bids with higher contract value by the Company as well as to an increase in demand for construction and engineering services in the Company's core markets of the Yangtze River Delta region and Hainan Island.

Higher demand for construction and engineering services is due to ongoing urban migration and an expansion of China's middle class, which drives the need for new housing, commercial and public infrastructure projects.

Cost of construction for Q2 FY2012 was $45.6 million, up 20.3% from $37.9 million for Q2 FY2011. Cost of construction for the first six months of FY2012 was $90.9 million, an increase of 23.1% from $73.9 million for the corresponding period of FY2011. The increase was primarily as a result of higher expenses associated with greater project volume and an expanded work force.

Cost of construction includes all direct material, labor, subcontract and other related costs, such as equipment repairs. The two major components of the cost of construction are direct material and labour costs. Direct material costs were $33.6 million and labour costs were $9.9 million in this quarter. In comparison, direct material costs and labour costs were $25.0 million and $10.5 million in the same quarter last year.

Gross profit for Q2 FY2012 was $8.7 million, which represented a margin of 16.1% on revenue. Gross profit for the corresponding period of last year was $7.6 million, which represented a margin of 16.7% on revenue. The year-over-year decline in gross margins by 60 basis points was attributable to a higher than average gross profit margin in Q2 FY2011 as there were several projects which yielded a higher than normal gross margin. Historically, Boyuan's gross profit margins have been in the range of 15% to 16%. On a six month basis, gross profit for FY2012 was $16.7 million, which represented a margin of 15.5% on revenue. In the same period of FY2011, gross profit and gross margins were $14.6 million and 16.5%, respectively.

G&A expenses were $1.16 million in Q2 FY2012 compared to $0.93 million in Q2 FY2011. The small increase was due to an increase in staffing cost as a result of the growth of the Company and the hiring of additional professional staff for the management team. G&A expenses for the six months period ended December 31, 2011 were $2.05 million representing an increase of $0.11 million in the same period last year. The increase in G&A expenses in this quarter came from the increase in office administrative costs such as insurance and audit fees.

Interest expense for Q2 FY2012 was $1.5 million, an increase of $0.3 million over last year. The increase was primarily due to an increase in bank loans and bank notes payable needed to fund start-up costs for new projects as well as an increase in convertible debentures which related to the Company's financing activities. Revenue for the projects will be recognized as the projects are completed, typically a duration of up to two years.

The Company also incurred a minimum total return (MTR) charge of $0.4 million for Q2 FY2012 compared to the $0.08 million incurred in Q2 FY2011. MTR charges were determined based on the provisions of previous financing activities. Investors of the Company's convertible debentures issued on February 2009 were entitled to a MTR right of 25% per annum on their units. The calculation is based upon the 20 day volume weighted average price of the Company's common shares, less interest paid or payable on the convertible debentures, calculated on the first, second and third anniversary of February 27, 2009 and payable, if triggered, on February 27, 2012. The MTR expense recorded in Q2 FY2012 was non-cash accrued expense based on calculations on December 31, 2011.

After-tax net income for Q2 FY2012 was $3.1 million, or $0.11 per fully diluted share, compared to net income of $3.3 million, or $0.14 per fully diluted share, for Q2 FY2011. The slight decrease in net income was a result of higher revenues from increased sales being primarily offset by higher interest expense and a higher MTR charge. Both basic and fully diluted EPS were negatively affected by an increase in the number of shares outstanding. On a six-month basis, net income for FY2012 was $5.9 million or $0.23 per share fully diluted. This compares to a net income of $6.1 million, or $0.28 per share fully diluted, for the same period of FY2011.

The Company had working capital of $72.2 million, including cash and cash equivalents of $4.0 million for the period ended December 31, 2011. This compares to $63.3 million and $6.3 million, respectively, at June 30, 2011. The increase in working capital is due to the contribution of net earnings and improved working capital management.

Outlook

"We continue to expect to grow within our current core markets as the ongoing development of tier two cities due to urbanization remains strong, suggesting continued growth in demand for our construction and engineering services," added Mr. Shou. "This is despite some economic evidence of a slowdown in the real estate markets of tier two cities. As a result of government economic policies, liquidity is generally tighter in the short term and we are therefore more selective in the projects we choose to ensure our financial flexibility."

Boyuan's consolidated statements for the three-and six- month periods ended December 31, 2011 and related management's discussion and analysis (MD&A) will be filed with securities regulatory authorities within applicable timelines and will be available via SEDAR at www.sedar.com.

Conference Call Notice

The Company will hold a conference call to discuss its fiscal Q2 FY2012 financial results on February 15, 2012 at 10:00 a.m. ET. Mr. Paul Law, Boyuan's Chief Financial Officer, will host the call.

All interested parties can join the call by dialing 647-427-7450 or 1-888-231-8191. Please dial in 15 minutes prior to the call to secure a line.

The conference call will be archived for replay until February 22, 2012 at midnight. To access the archived conference call, please dial 1-855-859-2056 or 416-849-0833 and enter the reservation number 48775302#.

A live audio webcast of the conference call will be available from the investor relations section of the Company's website, www.boyuangroup.com, or from www.newswire.ca. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above web site for 30 days.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2011, Boyuan completed more than 80 projects for a number of private and public sector clients. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup.

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2011 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.



--------------------------------------------------------------------------------

1 EBITDA is defined as earnings before interest, income taxes, depreciation and amortization. EBITDA is not a defined performance measure under IFRS.

For further information:

Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

TMX Equicom
Philip Dale
[phone] ext. 253
[e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=[phone]&archive=cnw&slug=C4217

[otterman]

Boyuan to Host Conference Call for Second Quarter Fiscal 2012 Financial Results on February 15th at 10:00 A.M. (ET)

Tuesday, February 07, 2012

TORONTO, Feb. 7, 2012 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY, BOY.DB, BOY.DB.A) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it will hold a conference call to discuss its second quarter FY2012 financial results on Wednesday, February 15, 2012 at 10:00 am (ET). Mr. Paul Law, Boyuan's Chief Financial Officer, will host the call. The Company expects to report its second quarter results on Tuesday, February 14, 2012 after market close.

All interested parties can join the conference call by dialing 647-427-7450 or 1-888-231-8191. Please connect approximately 15 minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay until Wednesday, February 22, 2012 at midnight. To access the archived conference call, dial 1-855-859-2056 or 416-849-0833 and enter the reservation number 48775302#.

A live audio webcast of the conference call will be available from the investor relations section of the Company's website, www.boyuangroup.com, or from www.newswire.ca. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above web site for 30 days.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2011, Boyuan completed more than 80 projects for a number of private and public sector clients. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup.

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2011 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

For further information:


Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

or

TMX Equicom
Philip Dale
[phone] ext. 253
[e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20120207&archive=cnw&slug=C2072

[otterman]

Boyuan Reports Record First Quarter FY2012 Financial Results

Tuesday, December 06, 2011

- Revenue increases 24%, diluted EPS increases 20% -

TORONTO, Dec. 6, 2011 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY, BOY.DB, BOY.DB.A) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, reported today its financial results for the three-month period ended September 30, 2011. All figures are in U.S. dollars unless otherwise stated.

Beginning with the first fiscal quarter of FY2012, Boyuan reported its financial results in accordance with International Financial Reporting Standards (IFRS), as required for public companies in Canada. Previously, the Company reported its financial results under Canadian Generally Accepted Accounting Standards (GAAP). Financial results for the corresponding period in 2011 have been restated to reflect the adoption of IFRS. The transition to IFRS reporting has no material impact on the Company's income statement.

Selected Fiscal Year Financial Highlights

In thousands except share and % data Q1 FY2012 Q1 FY2011 Change
Revenue $53,335 $43,044 +23.9%
Gross profit $7,974 $7,053 +13.1%
Gross profit margins 15.0% 16.4%
EBITDA1 $7,079 $6,044 +17.1%
Net income $2,828 $2,783 +1.6%
Earnings per share - diluted $0.12 $0.10 +20.0%
Sept. 30, 2011 June 30, 2011
Total Assets $156,809 $139,573 +12.3%
Cash and cash equivalents $9,309 $6,314 +47.5%

"The first quarter of 2012 was another record quarter for Boyuan in all significant financial and operational metrics," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "We grew revenue by 24% and EBITDA by 17% during the quarter providing continuing evidence that demand for construction services remains very robust in our core markets, which now include Shandong province and new markets within Hainan Island."

Q1 FY2012 Operational and Financial Highlights

Record Q1 revenue of $53.3 million, up 24% from $43.0 million in Q1 FY2011
Record Q1 EBITDA of $7.1 million, up 17% from $6.0 million in Q1 FY2011
Record Q1 net earnings of $2.83 million, up 1.6% from $2.78 million in Q1 FY2011
$44.2 million worth of projects initiated to date for the current fiscal year
Successfully completed transition from previous Canadian GAAP to IFRS
Highlights Subsequent to Quarter-End

Initiated a residential construction project located in Haikou, Hainan Island valued at $23.6 million
Initiated a residential construction project located in Weifang, Shandong Province valued at $12.6 million
Announced a Normal Course Issuer Bid
Review of Financial Results

Revenue for the three-month period ended September 30, 2011 was $53.3 million, up 23.9% from $43.0 million for the same period in 2010. Boyuan recognizes revenue on the percentage-of-completion method. The significant year-over-year growth in revenue was primarily attributable to an increase in the number of successful project bids with higher contract value by the Company as well as to an increase in demand for construction and engineering services in the Company's core markets, which are the Yangtze River Delta region, Hainan Island and Shandong province.

Higher demand for construction and engineering services is due to ongoing urban migration and an expansion of China's middle class, which drives the need for new housing, commercial and public infrastructure projects.

Cost of construction for Q1 FY2012 was $45.4 million, up 26.0% from $36.0 million for Q1 FY2011. The increase was primarily as a result of higher expenses associated with greater project volume and an expanded work force including the continued work on the Company's largest two construction projects to date, residential developments in Hainan province valued at $44.3 million and $43.1 million. Cost of construction includes all direct material, labor, subcontract and other related costs, such as equipment repairs. The two major components of the cost of construction are direct material and labour costs. Direct material costs were $33.6 million and labour costs were $10.9 million in this quarter. In comparison, direct material costs and labour costs were $26.5 million and $7.5 million in the same quarter last year.

Gross profit for Q1 FY2012 was $8.0 million, or 15.0% of revenue. Gross profit for Q1 FY2011 was $7.1 million, or 16.4% of revenue. The gross profit margin, while still within the historical range, decreased compared to the same period last year primarily due to the relatively faster progress of lower margin projects in relation to higher margin projects in this quarter. Historically, Boyuan's gross profit margins have been in the range of 15% to 17%.

G&A expenses were $0.9 million in Q1 FY2012 compared to $1.0 million in Q1 FY2011. The small decrease is reflective of the Company's ability to operate efficiently and find cost savings wherever possible.

Interest expense for Q1 FY2012 was $1.5 million, an increase of $0.78 million over last year. The increase was primarily due to an increase in bank loans and bank notes payable needed to fund start-up costs for new projects as well as an increase in convertible debentures which related to the Company's financing activities. Revenue for the projects will be recognized as the projects are completed, typically a duration of up to two years.

The Company also incurred a minimum total return (MTR) charge of $0.56 million for Q1 FY2012, similar to the $0.57 million incurred in Q1 FY2011. MTR charges were determined based on the provisions of previous financing activities. Investors of the Company's convertible debentures issued on February 2009 were entitled to a MTR right of 25% per annum on their units. The calculation is based upon the 20 day volume weighted average price of the Company's common shares, less interest paid or payable on the convertible debentures, calculated on the first, second and third anniversary of February 27, 2009 and payable, if triggered, on February 27, 2013. The MTR expense recorded in Q1 FY2012 was non-cash accrued expense based on calculations on September 30, 2011.

After-tax net income for Q1 FY2012 was $2.83 million, or $0.12 per fully diluted share, compared to net income of $2.78 million, or $0.10 per fully diluted share, for Q1 FY2011. The slight increase in net income was a result of higher revenues from increased sales being primarily offset by higher interest expense. The increase in fully diluted earnings per share for the period was due to the effect of adding back the interest expense on the convertible debentures in the calculations of the diluted earnings per share.

The Company had working capital of $68.5 million, including cash and restricted cash of $9.3 million for the period ended September 30, 2011. This compares to $63.3 million and $6.3 million, respectively, at June 30, 20110. The increase in both working capital and cash balances is due to the contribution of net earnings and continued improved operations.

Outlook

"The ongoing development of tier two cities due to urbanization remains strong and suggests continued growth in demand for our construction and engineering services, despite any slowdown in the Chinese economy or restrictive measures imposed by the Chinese central government on the residential market," added Mr. Shou. "We believe our core markets still present many opportunities for us to capitalize on during the remaining fiscal 2012 year. Over the longer term, we plan to expand beyond those core markets to other tier two cities across China as the rate of urban migration taking place is dramatic and will drive further demand for our construction and engineering services."

Boyuan's consolidated statements for the three-month period ended September 30, 2011 and related management's discussion and analysis (MD&A) will be filed with securities regulatory authorities within applicable timelines and will be available via SEDAR at www.sedar.com.

Conference Call Notice

The Company will hold a conference call to discuss its fiscal Q1 FY2012 financial results on December 7 at 10:00 a.m. ET. Mr. Paul Law, Boyuan's Chief Financial Officer, will host the call.

All interested parties can join the call by dialing 647-427-7450 or 1-888-231-8191. Please dial in 15 minutes prior to the call to secure a line.

The conference call will be archived for replay until December 14, 2011 at midnight. To access the archived conference call, please dial1-855-859-2056 or 416-849-0833 and enter the reservation number 26372832#.

A live audio webcast of the conference call will be available from the investor relations section of the Company's website, www.boyuangroup.com, or from www.newswire.ca. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above web site for 30 days.

Annual General Meeting

Boyuan's annual general meeting of shareholders will be held on Thursday, December 15, 2011 at 11:00 a.m. at the Design Exchange, 3rd Floor South, Patty Watt Room, 234 Bay Street, Toronto, Ontario. All shareholders and other interested parties are invited to attend.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2011, Boyuan completed more than 80 projects for a number of private and public sector clients. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup.

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2011 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

______________________________________________________

1 EBITDA is defined as earnings before interest, income taxes, depreciation and amortization. EBITDA is not a defined performance measure under IFRS.

For further information:

Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

TMX Equicom
Philip Dale
[phone] ext. 253
[e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20111206&archive=cnw&slug=C4593

[otterman]

:( I agree, unfortunately.

[MinnieM]

The fear of buying anything China related must pass. But, it does appear to be a solid one.

[otterman]

Great news out yesterday. Financials for period ending June 2011. Everything up! Earnings, sales, cash flow. This is going to be a big winner once the economic fears subside.

[MinnieM]

Trading is definitely limited here...

[otterman]

The OS is only 25mm, pretty low yet. It limits trading but makes for good looking numbers. It will get noticed eventually.

[MinnieM]

The lack of volume is amazing for this company. Either China plays are losing favour, or this one just isn't on the radar.

[MinnieM]

lol... Isn't that how it always is?

[otterman]

BOYUAN STARTS NEW PROJECT VALUED AT US$15.4 MILLION IN CORE SHANDONG PROVINCE MARKET

Tuesday, May 31, 2011

TORONTO, May 31, 2011 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY & BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has begun construction of a residential project valued at US$15.4 million The project, which will consist of 12 buildings and a gross construction area of 98,000 square meters, will be built in Zaozhuang, an emerging tier-two city in Shandong Province, one of Boyuan's core markets.

"Our contract wins in the Yangtze River Delta and Shandong over the past month illustrate the general robustness of China's construction market as well as the merits of our geographic diversification strategy," said Mr. Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "Our growth is being fueled by the development of China's tier-two cities, which is occurring in tandem with the country's ongoing urban migration."

As indicated by recent census data, China's urban population has grown to to 666 million or nearly 50% of the country's total. It is estimated that China's urban population will surpass the country's rural population in 2015.

Completion of Boyuan's new project is expected in the fourth quarter of calendar 2012.

Zaozhuang, a city with a population of approximately 4 million, is located in Shandong,one of China's most economically diversified provinces. Shandong Province has high concentrations of manufacturing as well as oil and gas production activities.

Since first expanding into Shandong in September 2009, Boyuan has developed a number of residential and commercial projects in the Province. Shandong has since emerged as one of Boyuan's core markets along with the Yangtze River Delta and Hainan Province.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2010, Boyuan completed more than 80 projects for a number of private and public sector clients including Cargill and the Dalian Shide Group, a billion dollar conglomerate whose partners include DuPont, Mitsubishi and General Electric. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the final prospectus, the Company's AIF for the fiscal year ended June 30, 2010 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

For further information: Contacts
Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]






TMX Equicom
Joe Racanelli
[phone] ext. 243
[e-mail] or


TMX Equicom
Philip Dale
[phone] ext. 253
[e-mail]


http://www.theglobeandmail.com/globe-investor/news-sources/?date=20110531&archive=cnw&slug=C8926

[otterman]

Ive seen 2 stories today, one saying to dump emerging market stocks and the other saying just the opposite! LOL.

http://www.theglobeandmail.com/globe-investor/markets/markets-blog/dump-some-us-emerging-market-equities-coxe/article2036993/

http://www.theglobeandmail.com/globe-investor/markets/markets-blog/market-view-video/emerging-markets-set-to-outperform/article2037068/

[MinnieM]

BOY filings:

http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00026251

[otterman]

Certainly possible. If the company keeps up the numbers it will get noticed eventually though. Even with a multiple of 10 times earnings (from the last 4 Qs) this company is worth north of $5.30. Institutions will pick up on that sooner or later.

[MinnieM]

I'd have to agree with you. But, the chart isn't matching the fundamentals on this. Is it the "China" effect? Are US investors backing off new Chinese investments?

[otterman]

BOYUAN BEGINS NEW US$23.1 MILLION PROJECT IN CORE YANGTZE RIVER DELTA MARKET

Thursday, May 19, 2011

- Mixed project combines residential and commercial buildings -

TORONTO, May 19 /CNW/ - Boyuan Construction Group, Inc. (TSX: BOY) (TSX: BOY.DB), a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has initiated construction on a new mixed development project comprising a total of 13 residential and commercial buildings ranging from three to 31 stories high. The 13 buildings, which total 80,000 square meters, will be built in Huaian City, which is located in the Yangtze River Delta, Boyuan's core market. The project is valued at US$23.1 million.

"We are very pleased with our newest development project," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "Not only is it our first in Huaian City, a major urban centre in Jiangsu Province, it illustrates the continued strength of China's construction market and the ongoing demand for our services, particularly within fast growing tier two cities."

Completion of the new project is expected to be in the second quarter of calendar 2013.

Huaian City is located in Jiangsu Province in eastern China and has a population of approximately five million. Traditionally known for its farming and agricultural production, recent urbanization and industrialization has transformed Huaian City into an important, fast growing economic centre. Jiangsu Province forms part of the Yangtze River Delta, Boyuan's primary market in tandem with Hainan Province and Shandong Province.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2010, Boyuan completed more than 80 projects for a number of private and public sector clients including Cargill and the Dalian Shide Group, a billion dollar conglomerate whose partners include DuPont, Mitsubishi and General Electric. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the final prospectus, the Company's AIF for the fiscal year ended June 30, 2010 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

For further information: Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

TMX Equicom or TMX Equicom
Joe Racanelli Philip Dale
[phone] ext. 243 [phone] ext. 253
[e-mail] [e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20110519&archive=cnw&slug=C5948

[otterman]

Very undervalued from this release:)

BOYUAN REPORTS FY2011 THIRD QUARTER FINANCIAL RESULTS

Monday, May 16, 2011

- Net income increases by 47% -

TORONTO, May 16 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY & BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, reported today its financial results for the three and nine-month periods ended March 31, 2011. All figures are in U.S. dollars unless otherwise stated.

Selected Third Quarter Financial Highlights

In thousands except share and % data Q3 2011 Q3 2010 Change
Revenue $41,042 $31,048 +32.2%
Gross profit $6,935 $5,159 +34.4%
Gross profit margins 16.9% 16.6%
EBITDA1 $6,001 $3,930 +52.7%
Net income $3,167 $2,156 +46.9%
Earnings per share - diluted $0.10 $0.09 +11.1%
March 31, 2011 June 30, 2010
Total Assets $131,545 $93,869 +40.1%
Cash, equivalents, and restricted cash $20,399 $8,726 +133.8%

"During the third quarter we grew revenue by 32%, EBITDA by 53% and net income by 47%, while initiating more than $32 million worth of projects," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "This strong growth, which was achieved even though the third quarter is traditionally our weakest due to the Chinese New Year holiday period, provides continuing evidence that demand for construction services remains very robust in our core markets, particularly since China's rate of urbanization and the rise of the middle class shows no signs of abating."

Q3 Operational and Financial Highlights

Current project backlog now totals over $245 million
Initiated construction on a 66,000 square meter residential project in Haiku, Hainan Province valued at $21.4 million
Initiated construction on a 60,000 square meter residential project in Hainan Province valued at $10.9 million
Total new project value for the nine-month period was $111.1 million, which is included in the current project backlog
Highlights Subsequent to Quarter End

Initiated construction on a 140,000 square meter residential project in Sanya, Hainan Province valued at $43.1 million - Boyuan's second largest project to date
Selected 9-Month Financial Highlights

In thousands except share and % data 9-Month 2011 9-Month 2010 Change
Revenue $129,550 $103,663 +25.0%
Gross profit $21,579 $17,549 +23.0%
Gross profit margin 16.7% 16.9%
EBITDA $17,671 $11,421 +54.7%
Net income $9,319 $5,463 +70.6%
Earnings per share - diluted $0.37 $0.24 +54.2%

Review of Financial Results

Revenue for the third quarter ended March 31, 2010 was $41.0 million, up 32.2% from $31.1 million for Q3 of FY2010. Revenue for the first nine months of FY2011 was $129.6 million, compared to $103.7 million for the same period in FY2010.

Boyuan recognizes revenue on the percentage-of-completion method, measured by the ratio of costs incurred up to a given date to estimated total costs for each contract. The significant year-over-year growth in revenue was primarily attributable to an increase in the number of successful project bids with higher contract value by the Company as well as to an increase in demand for construction and engineering services in the Yangtze River Delta region and Hainan Island, Boyuan's core markets. The growth was also due to the Company's decision to expand into Shandong province, an emerging market with growing demand for construction and engineering services.

Higher demand for construction and engineering services is due to ongoing urban migration and an expansion of China's middle class, which drives the need for new housing, commercial and public infrastructure projects.

Cost of construction for the third quarter of FY2011 was $34.1 million compared to $25.9 million for Q3 of FY2010. Cost of construction for the first nine months of FY 2011 was $108.0 million, up from $86.1 million for the comparable period in FY2010. The increase was primarily as a result of higher expenses associated with greater project volume and an expanded work force including the continued work on the Company's largest construction project to date, a residential development in Hainan province valued at $44.3 million. Cost of sales includes all direct material, labor, subcontract and other related costs, such as equipment repairs.

Gross profit for the third quarter of FY2011 was $6.9 million, or 16.9% of revenue, compared to $5.2 million, or 16.6% of revenue, for the same period of FY2010. Gross profit for the first nine months of FY2011 was $21.6 million, or 16.7% of revenue, compared to $17.5 million, or 16.9% of revenue, for the same period of FY2010. The stable year-over-year gross margins are attributable to the Company working on similar types of projects with similar margins compared to the same period as last year. The majority of those projects are primarily located in Hainan Island, where the Company experiences strong demand for its services but faces limited competition. Historically, Boyuan's gross profit margins have been in the range of 15% to 16%.

Interest expense for Q3 FY2011 was $1.1 million, up 107% or $0.6 million over the same period last year. On a year-to-date basis, interest expense for FY2011 was $3.0 million, up from $1.7 million for FY2010. The growth was primarily due to two items, an increase in bank loans and bank notes payable needed to fund start-up costs for new projects and to the Company's convertible debenture financing activities. On a year-to-date basis as of March 31, 2011, Boyuan has signed new agreements for construction development projects valued at $111.1 million. Revenue for the projects will be recognized as the projects are completed, typically a duration of up to two years.

The Company also incurred a minimum total return (MTR) charge of $0.3 million and $1.0 million, respectively, for the three- and nine-month periods ended March 31, 2011. The Company did not incur any MTR charges in FY2010. MTR charges were determined based on the provisions of previous financing activities. Investors of the Company's convertible debentures issued on February 2009 were entitled to a MTR right of 25% per annum on their units. The calculation is based upon the twenty day volume weighted average price of the Company's common shares, less interest paid or payable on the convertible debentures, calculated on the first, second and third anniversary of February 27, 2009 and payable, if triggered, on February 27, 2013. The MTR expense recorded in Q3 FY2011 was a non-cash accrued expense based on calculations on March 31, 2011.

On February 27, 2011, the redemption of one third of the 11.75% debenture outstanding was not exercised by the holders. Based on the redemption date of February 27, 2013 and effective interest rates of 28.94% and 32.64%, the principal amount of the one third outstanding debentures at February 27, 2011 was recalculated and the reduced amount was accounted for as valuation gain of $0.7 million in this period.

After-tax net income for the third quarter of FY2011 was $3.2 million, or $0.10 per fully diluted share, compared to net income of $2.2 million, or $0.09 per fully diluted share, for Q3 of FY2010. The increase was principally due to higher revenues from increased sales and the valuation gain on the 11.75% debenture, partially offset by higher interest expenses, the MTR charge as well as to a stock-based compensation charge of $0.3 million in Q3 FY2011. The increase in fully diluted earnings per share for the period was tempered by a 20% increase year-over-year in the weighted average number of common shares outstanding and dilution relating to the issuance of a CDN$15 million debenture during the year. After-tax net income for the nine-month period was $9.3 million, up 70.6% from $5.5 million for the same period of FY2010.

The Company had working capital of $65.6 million, including cash, restricted cash and cash equivalents of $20.4 million for the period ended March 31, 2011. This compares to $40.3 million and $8.7 million, respectively, at June 30, 2010.

Outlook

"We continue to be very encouraged by our short-term prospects," added Mr. Shou. "The recent measures imposed by the Chinese central government to slow the growth of prices in real estate markets in tier one cities have had very little impact on us as we operate in tier two and tier three cities."

"Over the longer term, we believe there will be opportunities for us to expand beyond our core markets and capitalize on the strong demand for construction services throughout the east coast of China, particularly with the high rate of urban migration taking in the region. We also remain very committed to upgrading our qualification and engineering standards, both of which will allow us to bid on larger scale projects with potentially higher margins," continued Mr. Shou.

Boyuan's consolidated statements for the three and nine-month periods ended March 31, 2011 and related management's discussion and analysis (MD&A) will be filed with securities regulatory authorities within applicable timelines and will be available via SEDAR at www.sedar.com.

Conference Call Notice

The Company will hold a conference call to discuss its 2011 third quarter financial results on May 16, at 10:00 a.m. ET. Mr. Paul Law, Boyuan's Chief Financial Officer, will host the call.

All interested parties can join the call by dialing 647-427-7450 or 1-888-231-8191. Please dial in 15 minutes prior to the call to secure a line.

The conference call will be archived for replay until May 23, 2011 at midnight. To access the archived conference call, please dial1-800-642-1687 or 416-849-0833 and enter the reservation number 65258329#.

A live audio webcast of the conference call will be available from the investor relations section of the Company's website, www.boyuangroup.com, or from www.newswire.ca. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above web site for 30 days.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2010, Boyuan completed more than 80 projects for a number of private and public sector clients including Cargill and the Dalian Shide Group, a billion dollar conglomerate whose partners include DuPont, Mitsubishi and General Electric. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup.

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the Company's AIF for the fiscal year ended June 30, 2010 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.



1 EBITDA is defined as earnings before interest, income taxes, depreciation and amortization. EBITDA is not a defined performance measure under generally accepted accounting principles (GAAP).





For further information:

Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]


TMX Equicom Or TMX Equicom
Joe Racanelli Philip Dale
[phone] ext. 243 [phone] ext. 253
[e-mail] [e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20110516&archive=cnw&slug=C4727

[otterman]

BOYUAN BEGINS NEW US$43.1 MILLION RESIDENTIAL PROJECT IN HAINAN PROVINCE

Monday, May 02, 2011

- Represents Boyuan's second largest contract value to date -

TORONTO, May 2 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY & BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has initiated construction on four luxury residential buildings, each 25 stories high. The four buildings, which total 140,000 square meters, are located in the Sanya Peninsula district on Hainan Province. The project is valued at US$43.1 million and represents the Company's second largest project to date.

"Based on our excellent reputation for building first class projects on time and on budget, demand for our construction and engineering services remains strong, particularly in Hainan, where our two largest projects to date are located," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "The region's emergence as a major international tourist destination continues to lead to opportunities for us to construct tourism-related projects such as hotels as well as supporting residential buildings."

Completion of the new project is expected to be in the third quarter of calendar 2012.

The new project is located near two of Boyuan's other projects that are currently under construction in the Sanya Peninsula district. As reported previously, the Company is completing its largest project to date, a 150,000 square meter US$44.3 million residential project, and a 40,000 square meter US$7.5 million clubhouse facility in the new Serenity Marina which is being constructed in preparation for the Sanya leg of the Volvo Ocean Race, scheduled for February, 2012.

Hainan Province is one of Boyuan's core markets. Demand for Boyuan's construction and engineering services in the region, especially in the major cities of Sanya and Haikou, is being driven by China's International Tourist Destination Policy, which aims at developing Hainan as a major international tourism destination by 2020.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2010, Boyuan completed more than 80 projects for a number of private and public sector clients including Cargill and the Dalian Shide Group, a billion dollar conglomerate whose partners include DuPont, Mitsubishi and General Electric. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter @ www.twitter.com/boyuangroup

Caution Regarding Forward-Looking Information:

Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the final prospectus, the Company's AIF for the fiscal year ended June 30, 2010 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.

For further information: Contacts
Boyuan Construction Group, Inc.
Mr. Paul Law, CFO
+(852) 9329 5088
[e-mail]

TMX Equicom or TMX Equicom
Joe Racanelli Philip Dale
[phone] ext. 243 [phone] ext. 253
[e-mail] [e-mail]

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20110502&archive=cnw&slug=C8354

[otterman]

Understand your concern, china stocks are sometimes quite risky. Take profits when you can. I like the fact that this one is backed by one of our national newspapers, lends a bit of credibility. I havent known them to push any junk before.

GL

[MinnieM]

I like the company, but, I'm just a bit gunshy of buying Chinese related stocks at the moment. But, at these prices... hmmm...

[otterman]

Hi Karin

Been following this a while, took a position this morning, nice price when its down here. One of our national newspapers up here has an analyst review and they have a 'strong buy' rating and a 4.50 target on this:)

GL
Otter

[MinnieM]

BOY Investor Presentation March 2011

http://www.boyuangroup.com/usercontent/pdf/Boyuan%20Investor%20Presentation%202011.pdf

[MinnieM]

Most Recent News Releases for Boyuan Construction Group Inc.:

http://tmx.quotemedia.com/news.php?qm_symbol=BOY


and http://micro.newswire.ca/66520-0.html

[MinnieM]

TSE:BOY chart:

[MinnieM]

BOYUAN BEGINS NEW US$10.9 MILLION RESIDENTIAL PROJECT
http://micro.newswire.ca/release.cgi?rkey=1901048394&view=66520-0&Start=0&htm=0

Excerpt:
TORONTO, Jan. 4 /CNW/ - Boyuan Construction Group, Inc., (TSX: BOY & BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has initiated the building of a 60,000 square meter residential project on Hainan Island valued at US$10.9 million. The project is located in a planned tourism district that will support China's International Tourist Destination Policy for Hainan Island. The new district is located approximately 30 kilometres from Sanya, a city where Boyuan has had operations for four years.

"This latest contract win further validates our decision to select Hainan Island as one of our primary markets," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "Not only are there significant opportunities to build tourism-related projects such as hotels and resorts, we are also capitalizing on the region's growing demand for residential and infrastructure projects that will support the development of Hainan as a major international tourist destination by 2020."

The new project is expected to be completed in the third quarter of calendar 2011.

Launched in 2009, China's International Tourist Destination Policy is aimed at fostering Hainan Island's economic growth and development. As part of the goal to turn Hainan Island into a major international tourism destination, a tax-free shopping plan for foreign travelers was implemented effective January 1, 2011.

[MinnieM]

About Boao:

Boao is located on the eastern coast of Hainan Island. Boao is comprised of three islands at the confluence of Wanquan River and the South China Sea.

Boao is located 180 KMs away from Sanya and home to the Boao Asia Forum, which is dedicated to promoting regional economic integration and bringing Asian countries even close to their development goals.

[MinnieM]

BOYUAN EXPANDS INTO NEW MARKET WITH NEW US$27 MILLION CONSTRUCTION PROJECTS

http://finance.yahoo.com/news/BOYUAN-EXPANDS-INTO-NEW-cnw-1228779831.html?x=0&.v=1

Press Release Source: Boyuan Construction Group, Inc. On Monday December 13, 2010, 12:18 pm EST
TORONTO, Dec. 13 /CNW/ -

- Market expansion due to growing demand in Hainan Province -

Boyuan Construction Group, Inc., (TSX: BOY & BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has expanded into Boao, an emerging city in Hainan Province, and has initiated two residential construction projects with a Hong Kong-based property developer. The aggregate value of the two projects is US$27 million.

"Our decision to expand into Boao is due to a number of factors," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "It allows us to build on our previous work, relationships and reputation in the surrounding region. Equally important, the city is rapidly becoming a major centre for tourism and economic development, which we anticipate will lead to new opportunities for our construction and engineering services."

The first project, which will include the construction of 17 residential villas with a total area of 13,000 square meters, is valued at US$3 million. The project, which was begun earlier in 2010, is expected to be completed by the end of the current calendar year.

The second project will consist of the construction of a 29-storey residential building with a total area of 88,000 square meters. The US$24 million project, which is currently underway, is expected to be completed in the second quarter of calendar 2012.

Located in Hainan Province, Boao is home to Boao Forum for Asia, the most prestigious and premier forum for leaders in government, business and academia in Asia. The Forum is committed to promoting regional economic integration and bringing Asian countries even closer to their development goals. Hainan Province is China's largest special economic zone and one of Boyuan's primary markets.

About Boyuan Construction Group, Inc. Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2010, Boyuan completed more than 80 projects for a number of private and public sector clients including Cargill and the Dalian Shide Group, a billion dollar conglomerate whose partners include DuPont, Mitsubishi and General Electric. Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments. From its operating bases in Zhejiang Province and on Hainan Island, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, the city of Sanya and Shandong Province. For more information visit www.boyuangroup.com or follow us on Twitter at www.twitter.com/boyuangroup.

Caution Regarding Forward-Looking Information: Certain information contained in this press release constitutes forward-looking information, which is information relating to future events or the Company's future performance and which is inherently uncertain. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking information contained in this press release have been identified in the final prospectus, the Company's AIF for the fiscal year ended June 30, 2010 and in the Company's other public disclosure documents filed with certain Canadian securities regulatory authorities and available at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as otherwise required by law.


To view this news release in HTML formatting, please use the following URL:http://www.newswire.ca/en/releases/archive/December2010/13/c4584.html


For further information

<< Boyuan Construction Group, The Equicom Group Inc. Joe Inc. Mr. Paul Law, CFO + Racanelli [phone] ext. 243 (852) 9329 5088 [e-mail] [e-mail] >>

[MinnieM]

Volvo Ocean Race is Coming to Sanya

Sanya will be the start of the fourth leg of the 2011-2012 Volvo Ocean Race. The clubhouse facilities will be constructed by Boyuan.

[MinnieM]

Serenity Marina Project

Serenity Marina will be located in Sanya on Hainan Island. The Marina will include a 40,000 square meter clubhouse facility to be constructed by Boyuan in time for the Volvo Ocean Race, which is scheduled for February 2012.

[MinnieM]

Boyuan Begins New $US 7.5 Million Project

http://boyuangroup.posterous.com/boyuan-begins-new-us-75-million-project

[MinnieM]

BOYUAN REPORTS FIRST QUARTER FY2011 RESULTS
http://tmx.quotemedia.com/article.php?newsid=35725355&qm_symbol=BOY:CA

High demand for construction services drives revenue and gross profit gains

[MinnieM]

General contractors in China are required to have insanely high amounts of cash on hand for each project they do. It's not like in the US where they can be heavily leveraged.

I've often wondered how they do it? It's a percentage of the value of the project. So, the more projects they do, the more cash on hand they need. If I have a chance this week I'll try and find where I saw the requirements. It's been a long time since I looked at them.

I may have posted them here on the BOY board or the CHNC board awhile back, but, I don't have time to check now.

Good night all. ;)

[grasshopper1917]

No one should be surprised with the price. This company knows nothing about building shareholder value. Now they are going to try to float a bunch more paper at about 2 bucks a share. If they are making so much money on their construction projects why are they going back and diluting the company to heck by floating more cheap shares???? Happy I didn't get into this thing when it was recommended to me at 2.50

[MinnieM]

I'm amazed how low BOY is, especially, since they are off the venture exchange.

[MinnieM]

Newslink for Boyuan Construction Group, Inc.
http://tmx.quotemedia.com/news.php?qm_symbol=BOY

I had to update link in iBox and figured I might as well post it here too. ;)

[MinnieM]

BOYUAN REPORTS RECORD RESULTS FOR FISCAL 2010
http://micro.newswire.ca/release.cgi?rkey=1809234472&view=66520-0&Start=0&htm=0

- Generates revenue of U.S. $147 million; exceeds after-tax income target by 7% -

[MinnieM]

Boyuan Group’s IR blog:
http://boyuangroup.posterous.com/boyuans-chairman-comments-on-new-hainan-islan

Boyuan's Chairman comments on new Hainan Island residential project

July 15, 2010

“Construction projects continue unabated in a number of regions throughout China, including the principal markets in which we operate in. Hainan Island, in particular, is currently marked by a strong demand for both hotel and residential projects given its emergence as a major tourist and vacation destination, especially among China’s growing middle class.” Cai Liang Shou, Chairman

[MinnieM]

Boyuan has a twitter page:
http://twitter.com/boyuangroup

[MinnieM]

Boyuan begins new US $44.3 million construction project
http://cxa.marketwatch.com/TSX/en/Market/article.aspx?guid=http%3a%2f%2fsystem.marketwatch.com%2fnewscloud%2fdocguid%2f%7bD4921F8C-1B8D-4B2E-8A08-495ADC936DA7%7d&symb=BOY

[MinnieM]

It's amazing seeing these prices...

[kuwlness]

She's been getting beat down lately with the recent market correction ... would like to avg down, but most of my funds are tied up.

Great buy at these prices with little down-side risk imo

[MinnieM]

Boyuan announces graduation to the TSX

http://cxa.marketwatch.com/TSX/en/Market/article.aspx?guid=http%3a%2f%2fsystem.marketwatch.com%2fnewscloud%2fdocguid%2f%7bB38B1A78-C1DB-4C69-9FB4-DE10F1D2B562%7d&symb=BOY

[MinnieM]

Boyuan Construction Group, Inc., Consolidated Financial Statements
For The Nine Months Ended March 31, 2010 and 2009

http://www.sedar.com/CheckCode.do;jsessionid=0000FelRGBhA1AAZlJ37ccvwrq9:-1

or, if you can't open, just go to:

Company website: http://www.boyuangroup.com/pages/155/financial-reports

[MinnieM]

Volume and notice should come once this uplists. ;)