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Aoxin Tianli Group, Inc. Reports Second Quarter 2014 Financial Results

WUHAN, China, Aug. 13, 2014 /PRNewswire/ -- Aoxin Tianli Group, Inc. (NASDAQ: ABAC) ("Aoxin Tianli" or the "Company"), a diversified company with businesses in hog farming and electro-hydraulic servo-valves manufacturing and marketing, today announced its financial results for the second quarter ended June 30, 2014.

Mr. Ping Wang, Chairman and Chief Executive Officer of Aoxin Tianli Group, Inc., commented, "Despite continued weakness in market demand for our regular breeder and market hogs, strong sales of black hogs and black hog specialty pork products continued to drive double-digit top-line growth for us, with revenue growing 18% year-over-year in the second quarter. Our gross margin also improved to 7.7% for the second quarter, from negative 4.0% in the prior year, benefitting from lower feed costs as well as a more favorable product mix."

Mr. Wang continued, "2014 is a transformational year for Aoxin Tianli as the recent changes to our corporate name and ticker symbol highlight our newly adopted strategy to transform the Company from a single revenue stream – hog farming to a well-diversified company through targeted investments and acquisitions in selected high-growth industries such as equipment manufacturing, optoelectronics, new materials & new energy products, electromechanics and healthcare devices. Last month, we successfully acquired an 88% equity interest in Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd. ("Hang-ao"), allowing us to tap into the underdeveloped domestic Servo-valve market which is poised to benefit from favorable national industrial policies and increasing domestic brand market penetration."

"Looking forward, with our much improved cash position following our recent private placements, we are excited about the prospects of our business and will actively pursue investment and acquisition targets to further diversify into high growth and profitable segments. We want to thank our shareholders, many of whom have been with us since our IPO in 2010 for their continuing support. We are confident that our new strategy and execution capabilities will allow us to deliver significant long-term returns for our shareholders." Mr. Wang concluded.

Second Quarter 2014 Financial Results:


For the Three Months Ended June 30,

($ thousands, except per share data)

2014


2013


% Change

Revenue

$              8,075


$             6,844


18.0%

Gross margin

7.7%


-4.0%


NM

Operating margin

-4.1%


-14.4%


NM

Net income (loss) for common shareholders

560


(1,005)


NM

Diluted earnings per share

0.03


(0.09)


NM

Revenue for the second quarter of 2014 increased $1.23 million, or approximately 18%, to $8.07 million from $6.84 million for the same period of 2013. This increase was primarily attributable to sales of black hogs raised by farmers participating in our black hog program as well as revenue contributed from our retail sales of specialty black hog products which resumed in April 2013, partially offset by decreased sales of our regular breeder and market hogs due to the shutdown of our 8th farm. The Company sold a total of 40,306 regular breeder hogs, regular market hogs and black hogs with a blended average selling price of $196 per hog during the second quarter of 2014, compared to 36,249 hogs sold and a blended average selling price of $187 per hog for the same period of 2013. Revenue for the second quarter of 2014 from regular breeder hog sales decreased by 11% to $1.74 million with the number of regular breeder hogs sold decreasing 10% to 6,938 hogs and the average selling price of regular breeder hogs decreasing 1% to $251 per hog. . Revenue for the second quarter of 2014 from regular market hog sales decreased 8% to $3.40 million as the number of regular market hogs sold declined 10% to 20,213 hogs and the average selling price of regular market hogs increased 2% to $168 per hog.

For the second quarter of 2014, we generated $2.93 million in revenue through the sale of black hogs and black hog specialty pork products, compared to $1.20 million for the same period of last year. We sold 13,155 black hogs as breeder and market hogs with an average selling price of $209 per hog, generating revenue of $2.75 million for the second quarter of 2014. This compares to 6,083 black hogs sold as breeder and market hogs with an average selling price of $189 per hog, generating revenue of $1.15 million for the same period of last year. We also sold 39,568 kilograms of our specialty black hog products through retail that generated $0.18 million in revenue during the second quarter of 2014, compared to 11,656 kilograms of specialty black hog products sold through retail that generated $0.05 million in revenue during the same period of last year.Our black hog specialty pork product portfolio includes fresh pork meat sold to supermarkets and meat shops, and various vacuumed pork meats sold in gift boxes or portable thermo coolers.


For the Three Months Ended June 30,


2014


2013


No. of Hogs

Sold


Average

Price/Hog ($)


Sales

($ thousands)


No. of Hogs
Sold


Average

Price/Hog ($)


Sales

($ thousands)

Breeder hogs- regular hogs

6,938


$             251


$            1,742


7,718


$              253


$           1,956

Market hogs- regular hogs

20,213


168


3,401


22,448


164


3,687

Market hogs- black hogs

13,155


209


2,750


6,083


189


1,149

Total

40,306


196


7,893


36,249


187


6,792


















Kilograms


Average

Price/kg ($)


Sales

($ thousands)


Kilograms


Average

Price/kg ($)


Sales

($ thousands)

Market hogs- specialty black hog pork products

39,568


$                 5


$               182


11,656


$                   4


$                 52

Cost of goods sold increased $0.33 million, or 5%, to $7.45 million for the second quarter of 2014. Cost of goods sold related to the hog farming segment was $7.28 million for the second quarter of 2014, as compared to $7.07 million for the same period of 2013. Cost of goods sold for the retail segment was $0.18 million for the second quarter of 2014, as compared to $0.05 million for the same period of 2013. Gross profit for the second quarter of 2014 was $0.62 million, compared to gross loss of $0.28 million for the same period of last year. Gross margin for the second quarter of 2014 was 7.7%, compared to gross loss margin of 4.0% for the same period of 2013. The improvement in gross profit and gross margin reflected the impact of lower feed costs. For example, the price of corn dropped 7%, or RMB 0.20 per kilogram comparing the second quarter of 2014 and 2013. The gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 34%, -3%, 5% and 3% respectively, for the second quarter of 2014. As a comparison, gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 24%, -18%, -5%, and -1%, respectively, for the same period of last year.

Selling, general and administrative expenses increased $0.24 million, or 34%, to $0.95 million for the second quarter of 2014. The increase was primarily due to an additional amortization cost of $0.05 million for the acquired distribution network as a result of the repurchase of a 40% non-controlling interest in Tianzhili, $0.10 million in higher payroll expenses for the retail segment, as well as higher depreciation cost for our black hog facilities.

Net Income for the second quarter of 2014 was $0.56 million, which reflected $0.99 million relocation compensation received from the local government for the shutdown of Farm 8. This compares to net loss of $1.14 million for the same period of 2013. After allocating net income attributable to non-controlling interest, net income attributable to common shareholders for the second quarter of 2014 was $0.56 million, or $0.03 per diluted share. This compared to net loss attributable to common shareholders of $1.00 million, or net loss of $0.09 per diluted share, for the second quarter of 2013. 

Six Months Ended June 30, 2014 Financial Results:    

Revenue for the six months ended June 30, 2014 increased $3.53 million, or approximately 25%, to $17.76 million from $14.23 million for the same period of 2013. This increase was primarily attributable to sales of black hogs raised by farmers participating in our black hog program as well as revenue contributed from our retail sales of specialty black hog products which resumed in April 2013. The Company sold a total of 81,658 regular breeder hogs, regular market hogs and black hogs with a blended average selling price of $210 per hog during the six months ended June 30, 2014, compared to 68,762 hogs sold and a blended average selling price of $206 per hog for the same period of 2013. Revenue for the six months ended June 30, 2014 from regular breeder hog sales decreased by 9% to $3.73 million with the number of regular breeder hogs sold decreasing 9% to 14,007 hogs and the average selling price of regular breeder hogs increasing slightly to $266 per hog. Revenue for the six months ended June 30, 2014 from regular market hog sales decreased 3% to $7.98 million as the number of regular market hogs sold declined 3% to 42,796 hogs and the average selling price of regular market hogs was unchanged at $186 per hog. The decline in regular breeder hogs sold and market hogs sold is due to the shutdown of our 8thfarm.

For the six months ended June 30, 2014, we generated $6.05 million in revenue through the sale of black hogs and black hog specialty pork products, compared to $1.91 million for the same period of last year. We sold 24,855 black hogs as breeder and market hogs with an average selling price of $218 per hog, generating revenue of $5.42 million for the six months ended June 30, 2014. This compares to 9,184 black hogs sold as breeder and market hogs with average selling price of $202 per hog, generating revenue of $1.86 million for the same period of last year. We also sold 129,052 kilograms of our specialty black hog products through retail that generated $0.63 million in revenue during the six months ended June 30, 2014, compared to 11,656 kilograms of specialty black hog products sold through retail that generated $0.05 million in revenue during the same period of last year. Our black hog specialty pork product portfolio includes fresh pork meat sold to supermarkets and meat shops, various vacuumed pork meats sold in gift boxes or portable thermo coolers.


For the Six Months Ended June 30,


2014


2013


No. of Hogs

Sold


Average

Price/Hog ($)


Sales

($ thousands)


No. of Hogs

Sold


Average

Price/Hog ($)


Sales

($ thousands)

Breeder hogs- regular hogs

14,007


$              266


$             3,731


15,408


$               265


$             4,086

Market hogs- regular hogs

42,796


186


7,981


44,170


186


8,234

Market hogs- black hogs

24,855


218


5,420


9,184


202


1,859

Total

81,658


210


17,132


68,762


206


14,179


















Kilograms


Average

Price/kg ($)


Sales

($ thousands)


Kilograms


Average

Price/kg ($)


Sales

($ thousands)

Market hogs- specialty black hog pork products

129,052


$                  5


$                630


11,656


$                   4


$                 52

Cost of goods sold increased $2.01 million, or 15%, to $15.71 million for the six months ended June 30, 2014. Cost of goods sold related to the hog farming segment was $15.29 million for the six months ended June 30, 2014 as compared to $13.65 million for the same period of 2013. Cost of goods sold for the retail segment was $0.42 million for the six months ended June 30, 2014, as compared to $0.05 million for the same period of 2013.Overall gross profit for the six months ended June 30, 2014 was $2.05 million, compared to $0.53 million for the same period of last year. Gross margin for the six months ended June 30, 2014 was 11.7%, compared to 3.7% for the same period of 2013. This increase in gross profit and gross margin was mainly due to reductions in feed costs. The gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 35%, 2%, 7% and 33% respectively, for the six months ended June 30, 2014. As a comparison, gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 27%, -6%, -3%, and -1%, respectively, for the same period of last year.

Selling, general and administrative expenses increased $0.36 million, or 22%, to $2.01 million for the six months ended June 30, 2014. The increase was primarily due to additional amortization cost of $0.05 million for the acquired distribution network as a result of the repurchase of a 40% non-controlling interest in Tianzhili and $0.31 million in higher payroll expenses associated with the retail segment and our black hog program.

Net Income for the six months ended June 30, 2014 was $0.83 million, which reflected $0.99 million relocation compensation received from the local government for the shutdown of Farm 8. This compares to a net loss of $1.32 million for the same period of 2013. After allocating net income attributable to non-controlling interest, net income attributable to common shareholders for the six months ended June 30, 2014 was $0.96 million, or $0.06 per diluted share. This compared to net loss attributable to common shareholders of $1.11 million, or net loss of $0.10 per diluted share, for the six months ended June 30, 2013. 

Financial Position  

As of June 30, 2014, the Company had cash and cash equivalents of $31.12 million, compared to $10.09 million at the end of 2013. Working capital as of June 30, 2014 was $32.11 million as compared to $14.95 million at December 31, 2013. Net cash provided by operating activities was $5.79 million for the six months ended June 30, 2014, compared to net cash used in operating activities of $0.21 million for the six months ended June 30, 2013.

Recent Developments 

On July 28, 2014, the Company announced change of its name to "Aoxin Tianli Group, Inc." In connection with the name change, the Company's common shares started trading on the NASDAQ Capital Market under the new ticker symbol "ABAC" (NASDAQ:ABAC), effective July 29, 2014.

On July 17, 2014, the Company announced a strategic development plan (the "Strategic Development Plan") to transform the Company into a higher growth, more profitable business through targeted investments and acquisitions in selected high-growth industries such as equipment manufacturing, optoelectronics, new materials & new energy products, electromechanics and healthcare devices.  In connection with the Strategic Development Plan, the Company also announced the acquisition of an 88% equity interest in Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd. ("Hang-ao") for cash consideration of RMB 42 million (approximately US$6.8 million) paid to two individuals  who collectively owned 60% of the equity in Hang-ao and 1,047,000 shares of the Company's common stock (the "Share Consideration") issued to certain management shareholders who transferred to Tianli 28% of the equity in Hang-ao. Vesting of the Share Consideration is contingent upon Hang-ao achieving certain agreed upon net profit targets. Specifically, the entire Share Consideration will only vest in the management stockholders if Hang-ao achieves net profits of RMB 4.5 million, RMB 9.0 million, and RMB 15.0 million for the years ending December 31, 2014, 2015, and 2016, respectively. As a result of the completion of the transaction, Hang-ao became an 88% owned subsidiary of the Company's WFOE subsidiary, Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd.

On June 18, 2014, the Company announced the completion of a $3.84 million private placement of its common stock to Mr. Houliang Yu, who is a citizen of the PRC and Chief Financial Officer of Aoxin Holdings Co. Ltd. Pursuant to a Regulation S Subscription Agreement entered into on June 6, 2014, the Company issued and sold 1.6 million shares of its common stock to Mr. Yu for an aggregate consideration of $3.84 million, or $2.40 per share. The offering price represents an approximately 11.6% premium over the closing price of $2.15 on June 6, 2014. Upon completion of the Offering, the Company had 21,164,000 common shares outstanding, of which Mr. Yu owns approximately 7.56%. The Company intends to use the proceeds from this Offering and cash on hand to pursue accretive M&A opportunities.

On June 6, 2014, the Company's WFOE subsidiary, Wuhan Fengxin Agricultural Science and Technology Development Co., Ltd. ("WFOE") changed its name to "Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd."  On June 20, 2014, with the approval of the Wuhan Municipal Commission of Commerce, Wuhan Fengze Agricultural Science and Technology Development Co., Ltd., formerly controlled by the Company as a Variable Interest Entity ("VIE") for its hog farming business, became a wholly owned subsidiary of WFOE.    

On April 18, 2014, the Company announced that its VIE subsidiary, Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. ("Fengze"), executed an acquisition agreement (the "Equity Transfer Agreement") with Xiamen Ruijin Fund LLP ("XMRJ") that allowed Fengze to regain full control of Hubei Tianzhili Breeder Hog Co., Ltd. ("Tianzhili"). Total consideration for the transaction is RMB 6,666,700, or approximately $1,050,000, which equals the advances received from XMRJ as of April 18, 2014 in connection with XMRJ's acquisition of the 40% equity interest in Tianzhili in November 2012. As a result of the transaction, Tianzhili became a wholly owned subsidiary of Fengze and the Company regained full control of its Black Hog Program in Enshi Prefecture.

On April 11, 2014, the Company announced that it completed a $5.72 million private placement of its common stock to Mr. Ping Wang, the Company's Chairman and CEO. Pursuant to a Subscription Agreement executed on April 10, 2014, the Company issued and sold 2.6 million shares of its common stock to Mr. Wang for $5.72 million, or $2.20 per share. The offering price represents an approximately 20.9% premium over the closing price of $1.82 on April 9, 2014. As a condition of the purchase, Mr. Wang agreed not to sell the shares for 18 months and thereafter at not less than $2.20 per share.  

Earnings Conference Call

AoxinTianli will host an earnings conference call andlive webcast covering its second quarter 2014 financial results at 8:00 a.m. EDT on August 14, 2014, which is also 8:00 p.m. in Beijing on August 14, 2014. To attend the call, please use the information below for either dial-in access or webcast access. When prompted on dial-in, ask for "AoxinTianli / ABAC".

Conference Call



Date:

Thursday, August 14, 2014


Time:

8:00 am EDT, U.S.


U.S. Dial-in:

+1 877-317-6789


International Dial-in:

+1 412-317-6789


Conference ID:

AoxinTianli / ABAC


Webcast Link:

http://services.choruscall.com/links/abac140814.html


For those unable to participate, an audio replay of the call will be available beginning approximately one hour after the end of the live call through August 29, 2014. The audio replay can be accessed by dialing +1-877-344-7529 within the United States or +1-412-317-0088 internationally, and entering access ID No. 10051168.

About Aoxin Tianli Group, Inc.

AoxinTianli Group, Inc. (the "Company"), previously known as Tianli Agritech, Inc., is a diversified company with businesses in hog farming and electro-hydraulic servo-valves manufacturing and marketing. Through its wholly owned subsidiary, Wuhan Fengze Agricultural Science and Technology Development Co., Ltd., the Company engages in breeding, raising and selling breeder and market hogs in China and is developing a distribution channel for its pork products including high-value, black hog meat. Through its 88% owned subsidiary, Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd., the Company also manufactures and markets electro-hydraulic servo-valves and related servo systems and components targeting a wide range of industrial machinery applications such as metallurgy, aerospace, construction & mining, thermal power, petrochemical and defense.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts.  These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: [email protected]  

 

AOXIN TIANLI GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS








June 30,


December 31,



2014


2013



(Unaudited)



ASSETS





Current Assets:





Cash and cash equivalents

$

31,119,512

$

10,087,694

Accounts receivable, net


148,169


256,607

Inventories


9,570,321


11,484,786

Advances to suppliers


1,326,771


1,612,492

Prepaid expenses


82,386


204,106

Restricted cash


-


-

Other receivables, net


365,621


1,181,078

 Total Current Assets


42,612,780


24,826,763






Long-term prepaid expenses, net


1,637,082


1,606,188

Plant and equipment, net


21,891,090


23,185,732

Construction in progress


50,527


50,897

Biological assets, net


2,527,963


3,276,840

Intangible assets, net


3,322,248


1,480,631






Total Assets

$

72,041,690

$

54,427,051






LIABILITIES AND STOCKHOLDERS' EQUITY










Current Liabilities:





Short-term loans

$

7,180,920

$

6,382,561

Accounts payable and accrued payables


104,493


48,896

Other payables


3,153,447


3,309,246

Due to related party


59,715


139,430

Total Current Liabilities


10,498,575


9,880,133






Stockholders' Equity:





Common stock ($0.001 par value, 50,000,000 shares authorized,





21,164,000 and 13,964,000 shares issued and outstanding as of





June 30, 2014 and December 31, 2013, respectively)


21,164


13,964

Additional paid in capital


34,780,629


18,094,200

Statutory surplus reserves


2,416,647


2,416,647

Retained earnings


20,495,896


19,538,507

Accumulated other comprehensive income


3,828,779


4,046,055

Stockholders' Equity - Aoxin Tianli Group, Inc. and Subsidiaries


61,543,115


44,109,373

Noncontrolling interest


-


437,545

Total Stockholders' Equity


61,543,115


44,546,918

Total Liabilities and Stockholders' Equity

$

72,041,690

$

54,427,051

 

AOXIN TIANLI GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(UNAUDITED)












For the Three Months Ended June 30,


For the Six Months Ended June 30,



2014


2013


2014


2013



















Sales

$

8,074,894

$

6,843,808

$

17,761,223

$

14,230,342

Cost of goods sold


7,453,933


7,120,087


15,708,444


13,701,320

Gross profit (loss)


620,961


(276,279)


2,052,779


529,022










Operating expenses:









General and administrative expenses


844,398


627,085


1,617,809


1,529,583

Selling expenses


107,731


84,208


390,498


120,250

Total operating expenses


952,129


711,293


2,008,307


1,649,833










Income (loss) from operations


(331,168)


(987,572)


44,472


(1,120,811)










Other income (expense):









Interest expense


(139,139)


(162,981)


(228,815)


(329,798)

Subsidy income


19,545


(251)


19,545


95,338

Relocation compensation from Farm 8 shutdown


988,021


-


988,021


-

Other income (expense)


22,388


14,235


7,149


40,139

Total other income (expense)


890,815


(148,997)


785,900


(194,321)










Income (loss) before income taxes


559,647


(1,136,569)


830,372


(1,315,132)










Income taxes


-


-


-


-

Net income (loss)


559,647


(1,136,569)


830,372


(1,315,132)

Net loss attributable to noncontrolling interest


-


131,894


127,017


200,389

Net income (loss) attributable to Aoxin Tianli Group, Inc.

common stockholders


559,647


(1,004,675)


957,389


(1,114,743)










Other comprehensive income:









Unrealized foreign currency translation adjustment


127,876


352,240


(237,492)


604,805










Comprehensive income

$

687,523

$

(652,435)

$

719,897

$

(509,938)










Earnings (losses) per share attributable to Aoxin Tianli

Group, Inc. common stockholders - basic and diluted: 









Weighted-average shares outstanding, basic and diluted


19,664,000


11,194,000


16,814,000


11,194,000










Continuing operations - Basic & diluted

$

0.03

$

(0.09)

$

0.06

$

(0.10)

 

AOXIN TIANLI GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)








For the Six Months Ended June 30,



2014


2013











 CASH FLOWS FROM OPERATING ACTIVITIES 





 Net income (loss) 

$

830,372

$

(1,315,132)

 Adjustments to reconcile net income (loss) to net cash 





   provided by operating activities: 





 Depreciation and amortization 


1,746,285


1,610,107

 Amortization of prepaid expenses 


217,251


191,998

 Bad debt expense 


28,955


-

 Changes in operating assets and liabilities: 





 Accounts receivable 


77,884


(125,409)

 Inventories 


1,835,497


(467,287)

 Advances to suppliers 


274,677


(793,522)

 Prepaid expenses 


(50,702)


-

 Other receivables 


808,897


(5,237)

 Long-term prepaid expenses 


(87,952)


-

 Accounts payable and accrued payables 


56,093


(51,980)

 Other payables 


57,617


746,388

 Total adjustments 


4,964,502


1,105,058

 Net cash provided by (used in) operating activities     


5,794,874


(210,074)






 CASH FLOWS FROM INVESTING ACTIVITIES 





 Cash paid for purchase of noncontrolling interest 


(1,083,100)


-

 Purchase of biological assets 


-


(435,544)

 Purchase of plant and equipment 


(6,271)


(476,301)

 Net cash used in investing activities 


(1,089,371)


(911,845)






 CASH FLOWS FROM FINANCING ACTIVITIES 





 Increase at restricted cash 


-


(317,793)

 Proceeds from capital contribution 


15,560,000


-

 Advance from due to related party 


(79,128)


76,270

 Repayment of short-term loans 


(781,797)


(762,704)

 Proceeds from short-term loans 


1,628,744


762,704

 Net cash provided by financing activities       


16,327,819


(241,523)






 EFFECT OF EXCHANGE RATE CHANGES ON CASH 


(1,504)


127,457






 NET INCREASE (DECREASE) IN CASH 


21,031,818


(1,235,985)






 CASH, BEGINNING OF PERIOD 


10,087,694


7,477,205






 CASH, END OF PERIOD 

$

31,119,512

$

6,241,220






 SUPPLEMENTAL DISCLOSURES: 





 Cash paid during the period for: 





 Interest paid 

$

307,690

$

244,782

 Income tax paid 

$

-

$

-

 

SOURCE Aoxin Tianli Group, Inc.

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WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single-threaded, you can effectively identify hot spots in your serverless code. In his session at @DevOpsSummit at 21st Cloud Expo, Dave Martin, Product owner at CA Technologies, will give a live demonstration and code walkthrough, showing how ...
Docker containers have brought great opportunities to shorten the deployment process through continuous integration and the delivery of applications and microservices. This applies equally to enterprise data centers as well as the cloud. In his session at 20th Cloud Expo, Jari Kolehmainen, founder and CTO of Kontena, discussed solutions and benefits of a deeply integrated deployment pipeline using technologies such as container management platforms, Docker containers, and the drone.io Cl tool. H...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale.
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
As more and more companies are making the shift from on-premises to public cloud, the standard approach to DevOps is evolving. From encryption, compliance and regulations like GDPR, security in the cloud has become a hot topic. Many DevOps-focused companies have hired dedicated staff to fulfill these requirements, often creating further siloes, complexity and cost. This session aims to highlight existing DevOps cultural approaches, tooling and how security can be wrapped in every facet of the bu...
yperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it....
SYS-CON Events announced today that Pulzze Systems will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems Inc, provides the software product "The Interactor" that uniquely simplifies building IoT, Web and Smart Enterprise Solutions. It is a Silicon Valley startup funded by US government agencies, NSF and DHS to bring innovative solutions to market.
In his session at @ThingsExpo, Dr. Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, presented the findings of a series of six detailed case studies of how large corporations are implementing IoT. The session explored how IoT has improved their economic performance, had major impacts on business models and resulted in impressive ROIs. The companies covered span manufacturing and services firms. He also explored servicification, how manufacturing firms shift from se...
With Cloud Foundry you can easily deploy and use apps utilizing websocket technology, but not everybody realizes that scaling them out is not that trivial. In his session at 21st Cloud Expo, Roman Swoszowski, CTO and VP, Cloud Foundry Services, at Grape Up, will show you an example of how to deal with this issue. He will demonstrate a cloud-native Spring Boot app running in Cloud Foundry and communicating with clients over websocket protocol that can be easily scaled horizontally and coordinate...
SYS-CON Events announced today that Elastifile will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Elastifile Cloud File System (ECFS) is software-defined data infrastructure designed for seamless and efficient management of dynamic workloads across heterogeneous environments. Elastifile provides the architecture needed to optimize your hybrid cloud environment, by facilitating efficient...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, discussed how AI can simplify cloud operations. He covered the following topics: why cloud mana...