Gushan Environmental Energy Ltd. (GU)
Q2 2011 Earnings Call
August 23, 2011 8:30 am ET
Wilson Kwong – President
Frank Chan – Principle Financial Officer
Jin Ming Liu – Ardour Capital
Good day ladies and gentlemen and welcome to the Second Quarter 2011 Gushan Environmental Energy Limited Earnings conference call. My name is Iana and I’ll be the operator for today. At this time, all participants are in a listen-only mode. Later we will conduct a question and answer session. If at any time you require operator assistance, please press star followed by zero and a coordinator will be happy to assist you. As a reminder, this conference is being recorded for replay purposes.
I would now like to turn the conference over to your host, Mr. Wilson Kwong, President of Gushan Environmental Energy. Please proceed, sir.
Good morning ladies and gentlemen and welcome to Gushan’s Second Quarter 2011 Earnings call. Joining me on the call is Frank Chan, Principle Financial Officer of Gushan. Please note that today’s discussion may contain forward-looking statements made under the Safe Harbor provisions of U.S. federal securities laws. Please see today’s press release under the section Safe Harbor Statement for a discussion of risks and uncertainties that may affect our results.
Before opening the call to questions, I would like to briefly review our results for the second quarter of 2011. Gushan reported its third consecutive quarter of revenue growth in the second quarter of 2011, reflecting the contribution of the Company’s recycled copper product business, Mianyang Jin Xin Copper Company Limited, which was acquired in November 2010 as part of Gushan’s ongoing diversification strategy. Total revenues for the quarter rose 443% year-to-year and 32% quarter-on-quarter to 50.6 million. Jin Xin Copper contributed 47.2 million in revenue, up 37.2% quarter-to-quarter from the first quarter of this year and accounted for all the growth in revenue in the second quarter of 2011.