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Sino-Global Shipping America (SINO) RSS Feed

Followers
56
Posters
240
Posts (Today)
0
Posts (Total)
3668
Created
10/12/10
Type
Free
Moderators


SINO-GLOBAL SHIPPING AMERICA
        2001   38
        Founded   Employees


IndustryMisc. TransportationLocation
Sino Global Shipping America Ltd
36-09 Main Street
Suite 9C-2
Flushing
New York11354
United States
USA
Phone+1 (718) 888-1814Fax+1 (718) 888-1148Websitehttp://www.sino-global.com/

 
Sino-Global Shipping America, Ltd. is a shipping agency service provider in People's Republic of China. The Company has offices in the United States in Flushing, New York; L.A,; Canada; Perth, Australia and Hong Kong. Through these offices, the Company coordinates its clients' shipping needs, including preparing documents, husbanding vessels, working through customs issues, coordinating matters with port authorities, overseeing and settling cargo claims, tracking shipments, recommending trucking, warehousing and complementary services. Its principal geographic market is in the People's Republic of China. 
 

Directors & officers

  Name Title Compensation   Officer
since
 
           LeiCao
Chief Executive Officer and Director
      181.32k USD
  
         2001


Mr. Lei Cao is Chief Executive Officer and Director of Sino-Global Shipping America, Ltd. Mr. Cao founded Sino-Global Shipping Agency Ltd. ("Sino-China") in 2001 and has been the Chief Executive Officer since that time. Mr. Cao has been Chief Executive officer of company since its formation. Prior to founding Sino-China, Mr. Cao was a Chief Representative of Wagenborg-Lagenduk Scheepvaart BV, Holland, from 1992 - 1993, Director of the Penavico-Beijing's shipping agency from 1987 through 1992, and a seaman for Cosco-Hong Kong from 1984 through 1987. Mr. Cao received his EMBA degree in 2009 from Shanghai Jiao Tong University. Mr. Cao was chosen as a director because he is the founder of the company.


 
 
Tuo Pan
Chief Financial Officer, Director
110.79k USD
 
         
 
 
Zhi KangHuang
Chief Operating Officer
 
 
         
 
 
Tieliang Liu
Independent Director
--
 
         
 
 
Ming Zhu
Independent Director
--
 
         
 
 
JingWang
Independent Director
--
 
         
 
Officers and Directors data as of August 1, 2017




           SHARE STRUCTURE
 
Average volume 117.6K
 

Shares outstanding
10.1m

Free float
5.57m

P/E (TTM)
8.86

Market cap
29.9m USD

EPS (TTM)
$.35 USD
Fiscal Year 2017 Third Quarter Operating and Financial Highlights (all comparisons to the prior year period)
• Total revenues increased 134.1% to approximately $2.75 million, as compared to $1.17 million for the prior year. The increase was primarily the result of a shift in the Company’s business mix towards less cost services. 
• Gross profit increased to $1.6 million as compared to $553,227 for the prior year period.   • Net income for the third quarter of fiscal year 2017 was $1.3 million compared to net loss of $854,876.   • During the quarter, the Company entered into a joint venture agreement with Jetta Global Logistics Inc. to begin providing short haul trucking transportation and logistics services to customers located in the New York and New Jersey areas. 
• The Company signed a strategic cooperation agreement with China Ocean Shipping Agency Qingdao Co. Ltd. which will utilize the Company’s full-service logistics platform to arrange the transport of its container shipments into U.S. ports.  
• In February 2017, the Company completed a registered direct offering and sale of the Company’s common stock for net proceeds of approximately $4.3 million.   • As of March 31, 2017, the Company had cash and cash equivalents of $8.8 million, working capital of $13.0 million and shareholder equity of $18.5 million; compared to $1.4 million, $6.2 million, and $11.4 million, respectively, as of June 30, 2016. 
 
Management Comments Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, “We had a strong quarter and nine-month period marked by significant increases in revenue and a substantial reduction in our operating expenses. We continued to make progress on the initiatives we first implemented last year with the wind down of our Shipping Agency and Ship Management services as well as the discontinuation of our shipping and charter business. The shift in business mix towards lower-cost services has resulted in profit margins for the three-month period of 58.8% as compared to 47.1% for the prior year. 
 
We entered several agreements over the quarter and are confident that these agreements will further solidify our efforts to grow our business and strengthen our service offerings. During the quarter, we also continued to work with our current customers to improve timely payments for outstanding receivables. Sino-Global’s capital position is strong and we completed a registered direct financing during the three-month period. We intend to use the capital raised to further grow the Company and invest in the long-term future of Sino-Global.”  


                      Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)
 
 
   
                                                                                                                    For 3 Months Ended 03/31                           For 9 Months Ended 03/31

                                                                                                                                2017               2016                                          2017              2016
Net revenues - third parties                                                                                $ 1,984,834     $ 616,821                           $ 4,591,381     $ 3,553,428  
Net revenues - related party                                                                                     762,777        556,948                             2,229,180         1,916,510  
Total revenues                                                                                                    2,747,611       1,173,769                            6,820,561          5,469,938  
Cost of revenues                                                                                                 (1,132,213 )     (620,542 )                         (1,789,348 )     (2,568,345 )
Gross profit                                                                                                             1,615,398       553,227                               5,031,213       2,901,593                                    

General and administrative expenses                                                                (612,441 )     (1,190,614 )                           (2,248,639 )     (4,084,858 )
Selling expenses                                                                                                    (41,245 )     (23,353 )                                (153,429 )         (67,478 )
Total operating expenses                                                                                  (653,686 )     (1,213,967 )                         (2,402,068 )     (4,152,336 )                                  

Operating income (loss)                                                                                       961,712       (660,740 )                             2,629,145      (1,250,743 )                                  

Financial income (expense), net                                                                                    34,167       61,183                                 (57,737 )     (251,800 )
Other income, net                                                                                                                             10,402                                                           5,781  
Total other income (expense)                                                                                        34,167       71,585                                  (57,737 )     (246,019 )                                  

Net income (loss) before provision for income taxes                                          995,879       (589,155 )                          2,571,408     (1,496,762 )                                  

Income tax benefit (expense)                                                                                     303,196       (265,721 )                             158,184       (839,076 )                                  

Net income (loss)                                                                                                     1,299,075       (854,876 )                        2,729,592      (2,335,838 )                                  

Net income (loss) attributable to non-controlling interest                                                4,021       (116,667 )                           (104,083 )     (282,688 )                                  

Net income (loss) attributable to Sino-Global Shipping America, Ltd.          $ 1,295,054     $ (738,209 )                  $ 2,833,675     $ (2,053,150 )  
                                
Comprehensive income (loss)                                
Net income (loss)                                                                                                   $ 1,299,075     $ (854,876 )                  $ 2,729,592     $ (2,335,838 )
Other comprehensive income (loss) - foreign currency translation gain (loss)               4,871       (7,740 )                              (114,011 )