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Shun Cheng HK (GREY:BRBH)

Wednesday, July 7, 2010

Year Ended December 31 (Unaudited)
	2009		2008			2007
Consolidated Statements of Operations Data:
Revenue
Primary Products:
Coke	$	154,228,464	$	130,343,780		$	71,288,846
Refined Coal		31,453,873		81,069,716			45,403,547
		185,682,337		211,413,496			116,692,393
Secondary Products:
Medium Coal		2,752,286		983,156			1,007,033
Crude Benzol		4,857,926		744,120			809,675
Amsulfate		691,519		1,096,800			425,177
Coal Gas		2,965,957		1,617,915			-
Tar		5,352,688		6,287,161			2,446,778
Others		4,426,392		1,331,912			416,075
		21,046,768		12,061,064			5,104,738
Total Revenue		206,729,105		223,474,560			121,797,131
Expenses
Raw Materials		162,832,842		197,988,554			106,597,426
Labor		2,462,086		1,373,637			937,934
Manufacturing		8,114,477		4,887,253			2,879,386
Sales and Marketing		3,862,220		4,025,694			2,463,094
General and Administrative		9,710,677		4,415,816			2,850,351
Income from Operations		19,746,803		10,783,606			6,068,940
Other Income (expenses)		1,447,727		(1,787,875	)		(1,366,677	)
Income before provision for income taxes		21,194,530		8,995,731			4,702,263
Provision for income taxes		5,344,855		2,289,532			1,521,463
Net income	$	15,849,675	$	6,706,199		$	3,180,800

Consolidated Balance Sheets Data:
Cash and Restricted Cash	$	58,154,475	$	26,873,633		$	13,482,137
Total assets	$	264,764,292	$	168,521,248		$	116,512,320
Total long-term liabilities	$	45,990,524	$	30,754,363		$	19,112,131
Stockholders’ equity	$	41,126,005	$	25,110,358		$	16,986,804