China Tracker - Details for Sancon Resources Recovery (SRRY)


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 WARNING: Form 15 filed with the SEC!
 Sancon Resources Recovery
 Business Outlook

We are pleased with our continued increase in revenue in 2011 second quarter. However, our gross profit and net income has dropped. That is mainly due to the poor performance in our Australia operation and small scale of waste paper business in China. We have recently changed the management in our Australia operation and we are working hard to turn it around in the next quarter. In China, we've installed additional equipments which will triple our daily waste paper processing capacity. By expanding the waste paper business rapidly within a short period, we can negotiate a better pricing and increase our margin.

(Source: Marketwire, 2011-08-22)

We are pleased with our continued increase in revenue in 2011 first quarter. However, our gross profit and net income has dropped. That is mainly due to the poor performance in our Australia operation and small scale of waste paper business in China. We have recently changed the management in our Australia operation and we are working hard to turn it around in the next quarter. In China, we've installed additional equipments which will triple our daily waste paper processing capacity. By expanding the waste paper business rapidly within a short period, we can negotiate a better pricing and increase our margin.

(Source: Marketwire, 2011-05-26)

Sancon Resources Recovery announced today that it has entered into an acquisition agreement with a profitable Beijing environmental services company. On March 25, 2011, Sancon signed a letter of intent with Beijing JDY Environmental Recycling Co., under which Sancon's majority owned subsidiary Sancon Shanghai will acquire 51% equity of Beijing JDY. Sancon management believes this acquisition will contribute over US$15M revenue annually with healthy future growth projections. The acquisition of BeijingJDY is expected to complete before the end of August 2011.

(Source: Marketwire, 2011-04-11)

"The revenue and profit from our existing business continues to grow in 2010 third quarter. With our strong balance sheet we are well positioned to consider acquisitions and investment opportunities to accelerate growth to our business. Our new waste paper and cardboards collection business that we have invested in June 2010 has been ramping up nicely. We are now closely evaluating a number of investment and consolidation opportunities that will complement our existing business and extend our footprints in China and service offerings. We will be updating our shareholders on the potential acquisitions and investment opportunities which will enable us to expand and scale."

(Source: Marketwire, 2010-11-16)

The revenue and gross profit from our existing business continues to increase in 2010 second quarter. We are still seeking and selecting consolidation opportunities that will complement our existing business in the waste and environmental services space. Our new waste paper and cardboards collection business has started in June 2010. We believe the new business will provide additional growth to our business forward. We will be updating our shareholders on our expansion progress throughout the year.

(Source: Marketwire, 2010-08-18)

In spite of the continuous challenging and uncertain economic environment in 2010 first quarter, our revenue and gross profit continues to increase. We begin to spend more in new marketing and business development efforts in 2010. We have started to expand into other recycled waste management areas and begun aggressively seeking and selecting consolidation opportunities, said Jack Chen, Sancons Chief Executive Officer. Our new waste paper and cardboards collection business will be starting in June 2010. We expect it provides additional $4 million in revenue in on an annualized basis in the first year. We will be updating our shareholders on our expansion progress throughout the year.

(Source: Business Wire, 2010-05-25)

The company is actively seeking acquisition targets leveraging its strong balance sheet. There are a few potential acquisitions identified for 2010 currently under consideration. The company will further expand its waste paper and cardboards collection in China in 2010 in conjunction with the government initiatives. We believe this business can provide us $4 million revenue in 2010. China promulgated regulations on the administration of the recovery and disposal of waste electrical and electronic products (WEEE Regulations). It will be effective as of January 1, 2011. During the Copenhagen climate conference, China announced compulsory and verifiable environmental targets. All of these actions provide an excellent growth environment for Sancon in China. In 2010, in addition to organic growth, we expect to expand our service offerings such as waste paper, battery and printer cartridges recycling, as well as bringing in other growth opportunities through acquisitions.

(Source: Business Wire, 2010-04-09)
SRRY
Waste & Water Treatment

COVERAGE SUSPENDED OR TERMINATED
 
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SAFETY/RISK SCORE
HIGH RISK
DETAILS: Safety/Risk Model for SRRY
Current Price:  n/a
F10k Day (2007-01-03): -100.00%$0.35
2009 Close: -100.00%$0.33
2010 Close: -100.00%$0.28
2011 Close: -100.00%$0.02
High (2012-07-20): -100.00%$0.04
Low (2012-02-28): -100.00%$0.01
Exchange:
Market Capitalization: n/a
Total Shares: 23.97 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2011-06-30
Revenue (MRQ): 3.13 mill
Net Income (MRQ): 0.25 mill
Op. Cash Flow (MRQ): 1.03 mill
all financial data provided without warranty