Company Profile: Songzai International Holding Group, Inc.
Major Industry: Oil, Gas, Coal & Related Services
Sub Industry: Coal Producers
Country: United States / China
Homepage (although outdated at the moment): http://www.songzaigroup.com/web/corporate_profile.html
Songzai International Holding Group, Inc. (“Songzai” or the “Company”) was incorporated in Nevada on June 7, 2001. The Company is engaged in coal production by exploring, assembling, assessing, permitting, developing and mining coal properties in the People’s Republic of China (“PRC”). After obtaining permits from the Heilongjiang National Land and Resources Administration Bureau and Heilongjiang Economic and Trade Commission, the Company extracts coal from properties it has the right to mine, and sells most of the coal on a per ton basis for cash on delivery, primarily to power plants, cement factories, wholesalers and individuals for home heating.
SGZH latest 10q for the second quarter 2009. Revenues for Q2 2009 was 24,179,166 dollar. Revenues almost doubled compared to Q2 2008. Net income for the Q2 2009 was 12,404,475 dollar or 81 cents per share for the quarter. Net income was more than 2.5 times bigger compared to the Q2 2008. Cash at the end of Q2 was more than 31 million dollar.
Latest press release about bringing in 3 new directors in order to have compliance for their uplisting to a senior US exchange which will happen in the near future.
Glen Bradord for The Street.com regarding China coal mining companies 09/21/2009: