Shengkai Innovations, Inc. (Nasdaq:VALV)
("the Company", "Shengkai", "we", or "our"), a
leading ceramic valve manufacturer in the People's Republic of
China (the "PRC"), today announced results for its fiscal year 2013
("FY2013") second quarter ended December 31, 2012.
FY2013 Second Quarter Highlights
- Revenues were approximately $3.9 million compared with
approximately $10.3 million in the second quarter of fiscal year
2012 ("FY2012");
- Revenues from the electric power segment were approximately
$0.3 million compared with approximately $2.6 million in the second
quarter of FY2012;
- Revenues from the petrochemical and chemical segment were
approximately $3.2 million compared with approximately $7.1 million
in the second quarter of FY2012; and
- Gross profit was approximately $1.4 million with a gross margin
of 35.9%, compared with approximately $4.3 million and 42.0% in the
second quarter of FY2012.
FY2013 First Six Months Highlights
- Revenues were approximately $8.6 million compared with $21.3
million in the first six months of FY2012;
- Revenues from the electric power segment were approximately
$1.1 million compared with approximately $6.1 million in the first
six months of FY2012;
- Revenues from the petrochemical and chemical segment were
approximately $6.6 million compared with approximately $13.8
million in the first six months of FY2012;
- Gross profit was approximately $3.2 million with a 37.0% gross
margin, compared with approximately $9.1 million and 42.9% in the
first six months of FY2012;
- Net loss was approximately $1.7 million, or loss of $0.10 per
diluted share;
- Non-GAAP net loss was approximately $1.3 million, or non-GAAP
loss of $0.08 per share, after adjusting for non-cash items of
share-based compensation and loss resulting from changes in the
fair value of instruments; and
- First six months ceramic valves output was 1,682 sets compared
with 3,762 sets during the same period a year ago.
Note: The earnings per share data for the
second quarter and first six months of FY2012 have been
retroactively restated to reflect the 1-for-2 reverse stock split
effected on March 9, 2012.
FY2013 Second Quarter Results
Revenues in the second quarter were approximately $3.9 million
as compared to approximately $10.3 million in the second quarter of
FY2012. Quarterly ceramic valves output was 730 sets as compared to
1,784 sets a year ago. Facing the general economic slowdown in the
PRC, Shengkai continues the transition of target market segment
from the electric power industry to domestic and international
petrochemical and chemical industries.
During the second quarter of FY2013, revenues from electric
power industry, petrochemical and chemical industries, and other
industries accounted for 8.7%, 81.0% and 10.4% of the quarterly
revenues, respectively, compared with 25.7%, 68.6% and 5.7% in the
second quarter of FY2012. Specifically, revenues from the electric
power industry were approximately $0.3 million compared with
approximately $2.6 million in the second quarter of FY2012;
revenues from the petrochemical and chemical industries were
approximately $3.2 million compared with approximately $7.1 million
in the second quarter of FY2012; revenues from other industries,
including the aluminum and metallurgy industries were approximately
$0.4 million compared with approximately $0.6 million in the second
quarter of FY2012.
In the second quarter, cost of sales decreased 57.9%
year-over-year to approximately $2.5 million from approximately
$6.0 million in the second quarter of FY2012. Cost of sales as a
percentage of revenues was 64.1% compared with 58.0% in the
comparable period a year ago due to decrease in sales volume and
decrease in average selling price of the product mix as we sold
more lower priced products in this quarter.
Gross profit in the second quarter was approximately $1.4
million compared with approximately $4.3 million for the second
quarter of FY2012. The decrease was primarily attributable to
decrease in sales volume and decrease in average selling price of
the product mix as we sold more lower priced products in this
quarter. Gross margin was 35.9%, compared with 42.0% for the second
quarter of FY2012. The decrease in gross margin was primarily due
to the fixed depreciation costs spread over a smaller revenue base,
and sales of more valves with lower profit margin in the product
mix for this second quarter.
Selling expenses in the second quarter decreased by 41.8%
year-over-year to approximately $0.6 million from approximately
$1.0 million for the comparable period in FY2012. Commissions paid
to agents for introducing new sales decreased year-over-year to
approximately $0.3 million from approximately $0.8 million in the
second quarter of FY2012. Since overseas sales and marketing
expenses increased as a result of the Company's shifted strategy to
explore overseas markets, and minor components of selling expenses
such as sales staff's salaries, sales offices' administrative
expenses and after-sale service expenses are flat-rate and did not
diminish proportionally to revenue decrease, selling expenses as a
percentage of quarterly sales increased to 15.2% from 10.0% in the
second quarter of FY2012.
General and administrative ("G&A") expenses in the second
quarter were approximately $2.8 million, up from approximately $2.0
million for the comparable period in FY2012. Excluding the non-cash
share-based compensation, G&A expenses in the second quarter
were approximately $2.6 million, compared with approximately $1.0
million for the comparable period of FY2012.
Total operating expenses in the second quarter of FY2013 were
approximately $3.4 million compared with approximately $3.1 million
for the comparable period in FY2012. Operating loss in the second
quarter of FY2013 was approximately $1.9 million compared with
operating income of approximately $1.3 million for the comparable
period in FY2012.
Excluding the non-cash share-based compensation, non-GAAP
operating loss was approximately $1.8 million, compared with
non-GAAP operating income of approximately $2.3 million for the
comparable period in FY2012.
Income tax benefits in the second quarter were approximately
$32,000 compared with income tax expense of approximately $0.5
million in the second quarter of FY2012. In April 2010, Tianjin
Shengkai Industrial Technology Development Co., Ltd. ("Tianjin
Shengkai"), the Company's operating entity in Tianjin, PRC, was
awarded the status of "High Technology" enterprise by the local
government. The tax rate for a "High Technology" enterprise is 15%
and Tianjin Shengkai was taxed at that rate from January 1, 2010
through December 31, 2011. The Company expects to receive the
official approval for renewal of such treatment shortly.
GAAP net loss was approximately $1.8 million compared with GAAP
net income of approximately $1.8 million in the second quarter of
FY2012. Diluted loss per share was $0.10 compared to diluted
earnings per share of $0.10 in the second quarter of FY2012.
Excluding the non-cash items of share-based compensation and
changes in fair value of instruments, non-GAAP net loss was
approximately $1.6 million in the second quarter compared with
non-GAAP net income of approximately $2.0 million in the second
quarter of FY2012. The decrease was primarily due to the decline in
revenues resulting from slowdown in PRC economy, loss of customers
and operational transition, coupled with lower margin product mix
and higher selling and research and development expenses for new
potential markets. Non-GAAP loss was $0.09 per diluted share
compared with Non-GAAP earnings of $0.11 per diluted share in the
second quarter of FY2012.
FY2013 First Six Months Results
Revenues for the first six months of FY2013 were approximately
$8.6 million as compared to approximately $21.3 million for the
first six months of FY2012. Total ceramic valves output was 1,682
sets as compared to 3,762 sets a year ago. The decrease in revenue
was due to loss of business resulting from unsolicited
investigations, the transition into the petrochemical and chemical
segment, and the general economic slowdown in the PRC.
During the first six months of FY2013, revenues from electric
power industry, petrochemical and chemical industries, and other
industries accounted for 12.9%, 76.6% and 10.5% of the total
revenues, respectively, compared with 28.9%, 64.7% and 6.4% in the
same period of FY2012. Specifically, revenues from the electric
power industry were approximately $1.1 million compared with
approximately $6.1 million in the first six months of FY2012;
revenues from the petrochemical and chemical industries were
approximately $6.6 million compared with approximately $13.8
million in the same period of FY2012; revenues from other
industries, including the aluminum and metallurgy industries were
approximately $0.9 million compared with approximately $1.4 million
in the same period of FY2012.
Gross profit for the first six months of FY2013 was
approximately $3.2 million compared with approximately $9.1 million
for the same period in FY2012. Gross margin was 37.0% compared with
42.9% one year ago. The decrease in gross margin was primarily due
to the fixed depreciation costs spread over a smaller revenue base,
and sales of more valves with lower profit margin in the product
mix for the first six months of FY2013.
Net loss for the first six months of FY2013 was approximately
$1.7 million, or diluted loss per share of $0.10, compared with a
net income of approximately $2.7 million, or diluted net income per
share of $0.15 during the first six months of FY2012.
Excluding non-cash items of share-based compensation and change
in fair value of instruments, non-GAAP net loss for the first six
months of FY2013 was approximately $1.3 million compared with a
non-GAAP net income of approximately $4.1 million for the
comparable period in FY2012. The decrease was primarily due to the
decline in revenues resulting from loss of business resulting from
unsolicited investigations, operational transition, and slowdown in
PRC economy, coupled with lower margin product mix and higher
selling and research and development expenses for new potential
markets. Non-GAAP loss was $0.08 per diluted share compared with
Non-GAAP earnings of $0.23 per diluted share in the first six
months of FY2012.
GAAP to Non-GAAP
Reconciliation Table (Unaudited) |
(in U.S. Dollars) |
|
For the Three Months Ended
December 31, |
For the Six Months Ended
December 31, |
|
2012 |
2011 |
2012 |
2011 |
GAAP net (loss) income |
$ (1,768,413) |
1,782,084 |
(1,715,636) |
2,726,422 |
Add back/(subtract): |
|
|
|
|
Share-based compensation – employee options
and stock awards |
194,027 |
1,021,468 |
388,054 |
3,168,436 |
Changes in fair value of instruments |
(4,712) |
(830,085) |
15,824 |
(1,756,722) |
Non-GAAP net (loss) Income |
$ (1,579,098) |
1,973,467 |
(1,311,758) |
4,138,136 |
GAAP (loss) earnings per share (diluted) |
$ (0.10) |
0.10 |
(0.10) |
0.15 |
Non-GAAP (loss) earnings per share
(diluted) |
$ (0.09) |
0.11 |
(0.08) |
0.23 |
Financial Condition
As of December 31, 2012, the Company had cash and cash
equivalents of approximately $65.1 million and accounts receivable
of approximately $7.7 million compared to cash and cash equivalents
of approximately $64.8 million and accounts receivable of
approximately $9.4 million as of June 30, 2012. Total current
liabilities as of December 31, 2012 were approximately $2.8
million, compared with approximately $3.5 million as of June 30,
2012. Additionally, the Company has no short-term or long-term
debts.
Net cash flow provided by operating activities was approximately
$0.2 million for the first six months of FY2013 compared with
approximately $7.7 million in the first six months of FY2012. The
decrease was primarily attributable to the net loss incurred in the
first six months of FY2013 as compared to a net income for the same
period in FY2012, as well as advance payments totaling
approximately $2.5 million incurred during the first six months of
FY2013.
Business Outlook
In response to the business disruptions and changes in the
global ceramic valves industry as well as in PRC's economic
conditions, management of the Company has decided to gradually
phase out its less profitable domestic market segments including
the electric power market and focus on expanding its presence in
the more profitable domestic and foreign oil and chemical
industries where ceramic valve products typically command higher
prices. The Company has increased its product sales price to match
industry levels and to reflect its superior product quality. The
Company has also been making efforts to streamline operations
through headcount reduction and other cost-saving measures to
conserve capital and reduce the impact of revenue loss. Meanwhile,
the Company has invested more money in overseas sales and marketing
activities and in research and development of new products for new
potential markets.
As such, we expect that in the immediately following quarter
ending March 31, 2013, total revenues would slightly decrease on a
quarter-over-quarter basis as we usually experience due to long
holidays in China during that quarter, such as the New Year and the
Lunar Spring Festival; and major contribution to our sales would
continue to be from the petrochemical and chemical industry. Such
situation may persist until our marketing and sales efforts on some
new customers and projects pay off, and the expansion in the
international market picks up meaningfully. Successful penetration
into international oil and chemical markets would also require the
Company to obtain various certifications, including but not limited
to different class API certification, such as API 6A which covers
higher pressure valve products, and other firm-specific supplier
qualifications, which will take time to go through various
application procedures, develop new products and invest in
additional or different equipment.
Non GAAP Financial Measures
To supplement the Company's consolidated financial statements
for the three and six months ended December 31, 2012 and 2011
presented on a GAAP basis, the Company provided non-GAAP financial
information in this release that excludes the impact of non-cash
items of i) share-based compensation costs related to the stock
options and stock awards granted to independent directors and
management staff, and (ii) changes in the fair value of
instruments as a result of adoption on July 1, 2009 of FASB ASC
Topic 815, "Derivative and Hedging" ("ASC 815"). The Company's
management believes that these non-GAAP measures, namely non-GAAP
operating and net income and non-GAAP diluted earnings per share,
provide investors with a better understanding of how the results
relate to the Company's current and historical performance. The
additional non-GAAP information is not meant to be considered in
isolation or as a substitute for GAAP financials. The non-GAAP
financial information that the Company provides also may differ
from the non-GAAP information provided by other companies.
Management believes that these non-GAAP financial measures are
useful to investors because they exclude non-cash expenses that
management excludes when it internally evaluates the performance of
the Company's business and makes operating decisions, including
internal budgeting, and performance measurement, because these
measures provide a consistent method of comparison to historical
periods. Moreover, management believes that these non-GAAP measures
reflect the essential operating activities of the Company. In
addition, the provision of these non-GAAP measures allows investors
to evaluate the Company's performance using the same methodology
and information as that used by the Company's management. Non-GAAP
measures are subject to inherent limitations because they do not
include all of the expenses included under GAAP and because they
involve the exercise of judgment of which charges are excluded from
the non-GAAP financial measure. However, the Company's management
compensates for these limitations by providing the relevant
disclosure of the items excluded.
About Shengkai Innovations, Inc.
Shengkai Innovations is primarily engaged in the design,
manufacture and sale of ceramic valves, high-tech ceramic materials
and the provision of technical consultation and related services.
The Company's industrial valve products are used by companies in
the electric power, petrochemical and chemical, metallurgy and
other industries as high-performance, more durable alternatives to
traditional metal valves. The Company was founded in 1994 and is
headquartered in Tianjin, PRC.
The Company is one of the few ceramic valve manufacturers in the
world with research and development, engineering, and production
capacity for structural ceramics and is able to produce large-sized
ceramic valves with calibers of 6" (150mm) or more. The Company's
product portfolio includes a broad range of valves that are sold
throughout the PRC, to Europe, North America, United Arab Emirates,
and other countries in the Asia-Pacific region. The Company has
over 200 customers, and is the only ceramic valve supplier
qualified to supply SINOPEC. The Company joined the supply network
of China National Petroleum Corporation ("CNPC") in 2006 and
subsequently received a CNPC Certificate of Material Supplier for
valve products in 2011.
Safe Harbor Statements
Under the Private Securities Litigation Reform Act of 1995: Any
statements set forth above that are not historical facts are
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements. Such factors include, but are not
limited to, the effect of political, economic, and market
conditions and geopolitical events, legislative and regulatory
changes, the Company's ability to expand and upgrade its production
capacity, the actions and initiatives of current and potential
competitors, and other factors detailed from time to time in the
Company's filings with the United States Securities and Exchange
Commission and other regulatory authorities. All forward-looking
statements attributable to the Company or to persons acting on its
behalf are expressly qualified in their entirety by these factors
other than as required under the securities laws. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
|
|
SHENGKAI INNOVATIONS,
INC. (F/K/A SOUTHERN SAUCE COMPANY, INC.) AND
SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
AS AT DECEMBER 31, 2012 AND JUNE 30, 2012
(Stated in US Dollars) |
|
|
|
|
December 31,
2012 |
June 30, 2012 |
|
|
|
ASSETS |
|
|
Current Assets |
|
|
Cash and cash equivalents |
$ 65,072,742 |
$ 64,819,870 |
Restricted cash |
-- |
124,433 |
Accounts receivable, net |
7,717,619 |
9,388,820 |
Notes receivable |
47,611 |
167,873 |
Other receivables |
2,896,076 |
2,879,422 |
Advances to suppliers |
4,821,515 |
2,339,362 |
Inventories |
2,490,074 |
2,750,907 |
Total Current Assets |
83,045,637 |
82,470,687 |
Property, plant and equipment, net |
52,375,750 |
54,068,143 |
Land use rights, net |
2,508,702 |
2,533,684 |
Other intangible assets, net |
4,066,795 |
4,524,058 |
TOTAL ASSETS |
$ 141,996,884 |
$ 143,596,572 |
|
|
|
LIABILITIES AND STOCKHOLDERS'
EQUITY |
|
|
Current Liabilities |
|
|
Notes payable |
-- |
124,433 |
Accounts payable |
1,703,349 |
1,942,262 |
Advances from customers |
446,247 |
316,020 |
Other payables and accrued expenses |
655,789 |
899,491 |
Income tax payable |
-- |
240,438 |
Total Current
Liabilities |
2,805,385 |
3,522,644 |
Warrant liabilities |
226 |
1,761 |
Preferred (conversion option)
liabilities |
498,487 |
481,128 |
TOTAL LIABILITIES |
$ 3,304,098 |
$ 4,005,533 |
|
|
|
|
|
SHENGKAI INNOVATIONS,
INC. (F/K/A SOUTHERN SAUCE COMPANY, INC.) AND
SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
(Continued) AS AT DECEMBER 31, 2012 AND JUNE 30,
2012 (Stated in US Dollars) |
|
|
|
|
December 31,
2012 |
June 30, 2012 |
|
|
|
STOCKHOLDERS' EQUITY |
|
|
Preferred stock – $0.001 par value 15,000,000
shares authorized; 1,971,842 and 1,971,842 issued and outstanding
as of December 31, 2012 and June 30, 2012, respectively. |
$ 1,971 |
$ 1,971 |
Common stock -- $0.001 par value 100,000,000
shares authorized; 17,196,229 and 17,196,071 shares issued and
outstanding as of December 31, 2012 and June 30, 2012,
respectively. |
17,197 |
17,197 |
Additional paid-in capital |
72,083,621 |
71,695,567 |
Statutory reserves |
11,196,604 |
11,196,604 |
Retained earnings |
43,375,875 |
45,091,511 |
Accumulated other comprehensive income |
12,017,518 |
11,588,189 |
TOTAL
STOCKHOLDER'S
EQUITY |
138,692,786 |
139,591,039 |
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY |
$ 141,996,884 |
$ 143,596,572 |
|
|
|
SHENGKAI INNOVATIONS,
INC. (F/K/A SOUTHERN SAUCE COMPANY, INC.) AND
SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME FOR THE THREE MONTHS
ENDED DECEMBER 31, 2012 AND 2011 (Stated in US
Dollars) |
|
|
|
|
|
|
For the Three
Months Ended December 31, |
For the Six
Months Ended December 31, |
|
2012 |
2011 |
2012 |
2011 |
|
|
|
|
|
Revenues |
$ 3,920,943 |
$ 10,293,828 |
$ 8,595,228 |
$ 21,304,955 |
Cost of sales |
(2,514,475) |
(5,966,161) |
(5,415,618) |
(12,162,812) |
Gross profit |
1,406,468 |
4,327,667 |
3,179,610 |
9,142,143 |
Operating expenses: |
|
|
|
|
Selling expenses |
(596,271) |
(1,024,253) |
(1,206,652) |
(2,075,733) |
General and administrative expenses |
(2,757,901) |
(2,040,607) |
(3,792,394) |
(5,446,642) |
Total operating
expenses |
(3,354,172) |
(3,064,860) |
(4,999,046) |
(7,522,375) |
Income from operations |
(1,947,704) |
1,262,807 |
(1,819,436) |
1,619,768 |
Other income, net |
13,752 |
40,568 |
13,752 |
54,041 |
Interest income, net |
128,784 |
180,740 |
257,434 |
346,682 |
Changes in fair value of instruments - gain
(loss) |
4,712 |
830,085 |
(15,824) |
1,756,722 |
(Loss) income before income
taxes |
(1,800,456) |
2,314,200 |
(1,564,074) |
3,777,213 |
Income taxes benefits (expenses) |
32,043 |
(532,116) |
(151,562) |
(1,050,791) |
Net (loss) income |
(1,768,413) |
1,782,084 |
(1,715,636) |
2,726,422 |
Foreign currency translation adjustment |
694,645 |
925,698 |
429,329 |
2,211,482 |
Comprehensive (loss)
income |
$ (1,073,768) |
$ 2,707,782 |
$ (1,286,307) |
$ 4,937,904 |
|
|
|
|
|
Basic (loss) earnings per share* |
$ (0.10) |
$ 0.11 |
$ (0.10) |
$ 0.17 |
|
|
|
|
|
Diluted (loss) earnings per share* |
$ (0.10) |
$ 0.10 |
$ (0.10) |
$ 0.15 |
|
|
|
|
|
Basic weighted average shares
outstanding* |
17,196,229 |
16,638,306 |
17,196,224 |
16,506,920 |
|
|
|
|
|
Diluted weighted average shares
outstanding* |
17,196,229 |
18,181,990 |
17,196,224 |
18,117,452 |
|
|
|
|
|
* The earnings per share data and
the weighted average shares outstanding for all periods have been
retroactively restated to reflect the 1-for-2 reverse stock split
effected on March 9, 2012. |
|
|
|
SHENGKAI INNOVATIONS,
INC. (F/K/A SOUTHERN SAUCE COMPANY, INC.) AND
SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH
FLOWS FOR THE SIX MONTHS ENDED DECEMBER 31, 2012
AND 2011 (Stated in US Dollars) |
|
|
|
|
Six months ended
December 31, |
|
2012 |
2011 |
Cash flows from operating
activities |
|
|
Net (loss) income |
$ (1,715,636) |
$ 2,726,422 |
Adjustments to reconcile net income
to net cash provided by operating activities: |
|
|
Depreciation |
1,806,030 |
1,866,042 |
Amortization |
517,545 |
510,253 |
Provision for doubtful accounts |
11,015 |
110,259 |
(Gain) on disposal of property, plant and
equipment |
-- |
(10,584) |
Changes in fair value of instruments – (gain)
loss |
15,824 |
(1,756,722) |
Stock based compensation |
388,054 |
3,168,436 |
Changes in operating assets and
liabilities: |
|
|
(Increase) decrease in
assets: |
|
|
Accounts receivable |
1,678,436 |
6,227,905 |
Notes receivable |
119,860 |
45,972 |
Other receivables |
(10,648) |
31,363 |
Advances to suppliers |
(2,482,116) |
(26,318) |
Inventories |
266,141 |
(177,693) |
Increase (decrease) in
liabilities: |
|
|
Notes payable |
(124,209) |
(1,139,952) |
Accounts payable |
41,453 |
(1,480,002) |
Advances from customers |
130,317 |
389,850 |
Other payables |
(182,760) |
(1,363,226) |
Accruals |
(61,993) |
(128,055) |
Income tax payable |
(241,106) |
(1,300,673) |
Net cash provided by operating
activities |
156,207 |
7,693,277 |
Cash flows from investing
activities |
|
|
Proceeds from disposition of property, plant
and equipment |
-- |
(487) |
Purchase of property, plant and
equipment |
(286,214) |
(176,591) |
Payment of construction in progress |
-- |
(492,277) |
Purchase of intangible assets |
(20,983) |
-- |
Decrease in restricted cash |
124,209 |
1,139,952 |
Net cash (used in) provided by
investing activities |
(182,988) |
470,597 |
|
|
|
SHENGKAI INNOVATIONS,
INC. (F/K/A SOUTHERN SAUCE COMPANY, INC.) AND
SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS
(Continued) FOR THE SIX MONTHS ENDED DECEMBER 31,
2012 AND 2011 (Stated in US Dollars) |
|
|
|
|
Six months ended
December 31, |
|
2012 |
2011 |
|
|
|
|
|
|
Net (decrease) increase in cash and
cash equivalents |
$ (26,781) |
$ 8,163,874 |
|
|
|
Effect of exchange rate changes on cash and
cash equivalents |
279,653 |
917,989 |
|
|
|
Cash and cash equivalents–beginning of
year |
64,819,870 |
59,870,108 |
|
|
|
Cash and cash equivalents–end of
year |
$ 65,072,742 |
$ 68,951,971 |
|
|
|
Supplementary cash flow
information: |
|
|
|
|
|
Interest received |
$ 257,440 |
$ 346,682 |
|
|
|
Taxes paid |
$ 424,711 |
$ 2,351,462 |
|
|
|
Non-cash transaction: |
|
|
Preferred stock conversion to common
stock |
$ -- |
$ -- |
Common stock issuance |
$ -- |
$ -- |
CONTACT: Shengkai Innovations, Inc.
Linbin Zhang, Interim CFO
+86-22-5883-8509
ir@shengkai.com
http://www.shengkaiinnovations.com
Shengkai Innovations (CE) (USOTC:VALV)
過去 株価チャート
から 5 2024 まで 6 2024
Shengkai Innovations (CE) (USOTC:VALV)
過去 株価チャート
から 6 2023 まで 6 2024