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Man Shing Agricultural Holdings Inc (PK:MSAH)

Business Focus: Vegetable, Fruit & Nut Farming

Sector:  Consumer Non-Cyclicals Industry:  Fishing & Farming
 
See Regulatory Filings on SEC
Company Contact
Address: Linghe Town, Anqiu City
WEIFANG SDG 262127
Tel: 1-914-6690222
Website: www.msaginger.com
IR: See website
Key People
Liu Shi Shi Li
Chairman of the Board, President, Chief Executive Officer
Kenny Chow
Chief Financial Officer, Director
 
Business Overview
Man Shing Agricultural Holdings Inc. (Man Shing) through its operating subsidiary, Weifang Xinsheng Food Co., Ltd. (Xinsheng) is engaged in the production and processing of fresh vegetables, including ginger, and others, such as onion and, garlic. Xinsheng leases 5.3 million square meters of farm land for the planting and growing of ginger in Anqiu of Shandong Province in China. It produces ginger with a focus on customers located in countries, such as Japan and European Union. As of August 20, 2009, the Company entered into a Plan of Exchange (the Agreement) between and among the Company, Hero Capital Profits Limited (Hero), Weifang Xinsheng Food Co., Ltd. (Xinsheng), and the Company's majority shareholder. Pursuant to the terms of the Agreement, the Company acquired 100% of Hero. Upon completion of the exchange, Hero and Xinsheng became the Company's wholly owned subsidiaries. As of June 30, 2010, the Company's product portfolio comprised: fresh vegetables and frozen vegetables.
Financial Overview
For the three months ended 30 September 2012, Man Shing Agricultural Holdings Inc revenues decreased 2% to $7M. Net income decreased 4% to $2M. Revenues reflect United Kingdom segment decrease of 57% to $1.4M. Net income also reflects General and Administrative Expenses increase from $145K to $293K (expense). Basic Earnings per Share excluding Extraordinary Items remained flat at $0.04.