CGDI.OB China Growth Development
China Growth Development, Inc. (CGDI), is the largest investor, owner and manager of commercial real estate in the capital city of Taiyuan, located in the Shanxi Province of southern China.
China Growth Development, Inc., owns and manages 4,200 commercial units valued at over $90M within its six strategically located shopping centers, servicing an urban population of 3.4 million people.
Pics of Current Properties:
Video of Taiyuan- including shopping district:
(slow to download- but worth the wait!) http://www.taiyuan.gov.cn/tygovwww/english/spty.htm
PICS OF A FEW OF CGDI's PROPERTIES TAKEN 11/2009
China Growth Development Achieves Full Occupancy of Newest Shopping Mall, Primed to Add 1.9 Million in Annual Revenue - August 13, 2009
"We are pleased to announce that our newest shopping mall has reached full occupancy, which translates to increased annual revenue growth for the company,” stated Sam Liu, COO. “The tenants normally pay in advance for up to a 10 year lease period, and this is a significant factor in reducing China Growth Development Inc.‘s exposure to fluctuations in the commercial real estate market.”
The company notes that China's economy has experienced significant growth over the past few years and that has increased the demand for commercial space.
China Growth Development Inc. intends to grow and expand its commercial real estate business. The company desires to acquire an additional 2 shopping centers within the next three years in addition to capitalizing on existing development rights.
“We aim to have these and future developments enhance China Growth Development’s balance sheet and thus shareholder value,” added Mr. Liu.
China Growth Development Inc Highlights Second Quarter 2009 Financial Results - August 20, 2009
Second Quarter 2009 Highlights
-- Net revenue increased to 4.18 million, a 12% increase from the second quarter of 2008.
-- Net income rose to $1.67million for the quarter ended June 30, 2009, a 70% increase year-over-year.
-- Earnings per share of $.03 for the quarter on a fully diluted basis as compared to $.02 from the second quarter of previous year.
“We are pleased at our progress and ability to deliver solid results this quarter," stated Mr. Sam Liu, COO of China Growth Development Inc. “Our expansion projects have lead the way to increased revenue, and that is a perfect example of our growth strategy succeeding. We are focused on continuing that strategy of growth via expansion, development, and acquisition throughout the third and fourth quarters of 2009.”
2009 – 2010 Outlook
Over the course of the next few years, we intend to grow and expand our commercial real estate business. We currently generate positive cash flow and we expect to acquire an additional 2 shopping centers within the next three years.
SEC Filings: (click here)
Outstanding Shares: 34,970,007
Insider Shares: 31,121,327 (All insider shares are locked/unavailabe for sale until May 2010 per terms of the reverse merger)
Approximate Float: 3,848,680
China Growth Development, Inc.
927 Canada Court
City of Industry, California 91748