China HGS Announces Corporate Name Change to Green Giant Inc. to Reflect its Focus on a New Energy Business
March 23 2022 - 4:30PM
China HGS Real Estate Inc. (NASDAQ: HGSH) ("China HGS" or the
"Company"), a leading regional real estate developer headquartered
in Hanzhong City, Shaanxi Province, China, today
announced that it has changed its corporate name to Green Giant
Inc. The corporate name change reflects its plan to pursue and
focus on a new energy business.
"Our corporate name change to Green Giant Inc.
more accurately reflects the Company's new business strategy and
our future development plans," commented Neng Chen, Chief Executive
Officer of Green Giant Inc. "We have broadened our corporate
strategy with our planned business development and our new name
represents a rebranding due to our evolving business identity and
culture."
The corporate name change was approved by the
Company's Board of Directors on January 27, 2022 and by
shareholders holding a majority of the Company's issued and
outstanding capital stock on February 2, 2022. On March 10, 2022,
the Company filed a Certificate of Amendment (the "Certificate")
with the Secretary of State for the State of Florida to amend and
restate its articles of incorporation to change its name from China
HGS Real Estate Inc. to Green Giant Inc., with a market effective
date of March 23, 2022.
The Company’s common stock will cease trading
under the ticker symbol "HGSH" and will begin trading under the
ticker symbol "GGE" as of March 23, 2022. In connection with the
name change, the Company's common stock will continue to trade on
the Nasdaq Capital Market and will keep the same CUSIP number of
16948W 209.
Safe Harbor Statement
This press release contains forward-looking
statements, which are subject to change. The forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All
"forward-looking statements" relating to the business of China HGS
Real Estate Inc., which can be identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions, involve known and unknown risks and
uncertainties which could cause actual results to differ. These
factors include but are not limited to: the uncertain market for
the Company's business, macroeconomic, technological, regulatory,
or other factors affecting the profitability of real estate
business; and other risks related to the Company's business and
risks related to operating in China. Please refer to the
Company's Annual Report on Form 10-K for the fiscal year
ended September 30, 2021, for specific details on risk
factors. Given these risks and uncertainties, you are cautioned not
to place undue reliance on forward-looking statements. The
Company's actual results could differ materially from those
contained in the forward-looking statements. The Company undertakes
no obligation to revise or update its forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
About China HGS Real Estate, Inc.
Green Giant Inc. (NASDAQ: GGE), founded in 1995
and headquartered in Hanzhong City, Shaanxi Province, is a
leading real estate developer in the region and holds the national
grade I real estate qualification. The Company focuses on the
development of high-rise, sub-high-rise residential buildings and
multi-building apartment complexes in China's Tier 3 and
Tier 4 cities and counties with rapidly growing populations driven
by increased urbanization. The Company provides affordable housing
with popular and modern designs to meet the needs of multiple buyer
groups. The Company's development activity spans a range of
services, including land acquisition, project planning, design
management, construction management, sales and marketing, and
property management. For further information about Green Giant,
please go to www.gge.com.
Company contact:
Sherry Feng, Board Secretary Email: sherry.f@chinahgs.com
China HGS Real Estate (NASDAQ:HGSH)
Historical Stock Chart
From Mar 2024 to Apr 2024
China HGS Real Estate (NASDAQ:HGSH)
Historical Stock Chart
From Apr 2023 to Apr 2024