China Infrastructure Construction Corp. (CHNC)
C915 Jia Hao International Business Cent
116 Zizhuyuan Road Haidan District
Phone: 86 10 58090110
China Infrastructure Construction, (CHNC) has been based in Beijing, China since its founding in 2002 and owns and operates three production lines of ready-mix concrete. The Company's subsidiary Beijing Concrete ranks among the top four producers in China's capital.
China's importance as a producer and user of concrete and concrete products has been swiftly growing since the 1990s as its economy has opened and become more developed and vibrant. China is the world's largest producer of cement and the output of cement reached up to 1.38 billion tons in 2008. Its production has grown about 10 percent per year over the past two decades and is now growing even faster to keep up with massive urbanization. Today China produces roughly half of the total global output of cement and ready-mix concrete, more than the next three largest producers, India, Japan, and the United States combined.
Concrete product producers are the largest market for cement in China, projected to account for approximately 40% of all cement consumption in 2010. The PRC government's continued efforts to modernize the country's infrastructure are exemplified by such massive projects as the USD$586 billion economic stimulus package of 2008, with two-thirds of the expenditure targeting construction.
China generates half of all new building activity in the world and rapid expansion is expected to continue to 2030 as up to 400 million citizens are projected to move into urban areas.
Yang Rong, Chairman, CEO
Yiru Shi, CFO
Newly acquired business resulting in expansion of area served.
On October 8, 2008, the Company entered into and consummated the transactions contemplated under a Share Exchange Agreement with Northern Construction Holdings, Ltd., a Hong Kong limited company ("NCH") and its shareholder pursuant to which the Company purchased from the shareholder of NCH all issued and outstanding shares of NCH's common stock in consideration of the issuance of 12,000,000 pre-split shares of common stock of the Company (the "Share Exchange").
The Share Exchange resulted in (i) a change in control of the Company with the shareholder of NCH owning approximately 78% of issued and outstanding shares of common stock of the Company, (ii) NCH becoming a wholly-owned subsidiary of the Company, and (iii) appointment of certain nominees of the shareholder of NCH as directors and officers of the Company and resignation of John Schoenauer as director, Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer of the Company.
NCH, through its subsidiary Beijing Chengzhi Qianmao Concrete Corporation Ltd. ("Beijing Concrete") engages in production of ready-mixed concrete and other special high-performance concrete for developers and the construction industry. It has two prime production facilities. One facility is located in the Nanhaizi area, on the west side of the Yizhuang economic development zone in Beijing. The other is located at the Tangshan harbor, about two hundred kilometers from Beijing.
Hunter Wise Securities, LLC and S3 Investment Company, Inc subsidiary Redwood Capital facilitated completion of USD $10 million financing in October 2009
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=chnc Click on news and go to October 22, 2009 pr for source of following excerpt:
Redwood Capital acted as a financial advisor for the equity offering and will receive cash and CHNC stock as a success fee for its participation.
While Redwood Capital has traditionally assisted private Chinese companies in accessing the North American capital markets through reverse merger transactions, the company has recently been retained by Chinese companies that are already listed in the U.S. public markets to assist with the process of raising additional capital.
Led by institutional investors in Asia and North America, the CHNC private placement offering was increased to USD$10 million from an originally planned USD$5 million. The Company sold a total of approximately 2,564,103 shares of its common stock, no par value, at $3.90 per share in the offering. Immediately after the private placement there were approximately 11,118,397 shares of CHNC common stock outstanding.
CHNC through its PRC subsidiaries operates its ready-mix concrete facilities in China's capital under the brand of Chengzhi Qianmao Concrete Co, Ltd. ("Beijing Concrete"). In its most recent fiscal year ended May 31, 2009 CHNC achieved after-tax net income of USD$10.5 million. As a condition of the financing, CHNC agreed to net income targets of USD$14 million and USD$18 million, subject to certain adjustments, for each of the fiscal years ending May 31, 2010 and 2011 respectively. CHNC management has stated that over the past six years, Beijing Concrete has enjoyed an average growth rate of over 30% annually.
Recent News: http://finance.yahoo.com/q/h?s=CHNC.OB+Headlines
Current Capital Change
shs decreased by 1 for 10 split
Pay Date: Sep 28, 2009
100,000,000 as of Oct 19, 2009
12,815,620 as of April 27, 2010
Preferred Authorized Shares
Preferred Outstanding Shares
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