QHY Group (fka QHYG)

[db7]

$0.51/eps in 10k->


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Yakun International Investment & Holding Group
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Expressed in U.S. dollars)

For the years ended December 31
2011 2010

Sales $ 18,317,677 $ 14,287,150
Cost of sales 8,204,790 6,868,904
Cost of sales – related party 378,851 288,057
Gross profit 9,734,036 7,130,189

Operating expenses
Selling, general and administrative 1,469,661 694,179
Lease expenses – related party 301,534 288,057
Total operating expenses 1,771,195 982,236
Income from operations 7,962,841 6,147,953

Other income
Subsidy income 109,789 –
Interest income 138,868 27,160
248,657 27,160

Income before income tax expense 8,211,498 6,175,113
Income tax expense (2,084,806 ) (1,547,027 )
Net income 6,126,692 4,628,086
Other comprehensive income
Foreign currency translation gain 455,795 149,634
Comprehensive income $ 6,582,487 $ 4,777,720

Earnings per share – basic and diluted $ 0.51 $ 0.38
Weighted average number of shares outstanding – basic and diluted 12,059,600 12,059,600


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