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Gold Horse International Announces Completion of Shuian Renjia Project with Estimated Total Revenues of $30 Million

July 15, 2011

HOHHOT, China, July 15, 2011 /PRNewswire-Asia/ — Gold Horse International, Inc., (OTC Bulletin Board: GHII) (“Gold Horse” or “the Company”), a multifaceted business group that controls and operates a construction company, real estate development business and a hotel/banquet facility in Inner Mongolia, China, announces that in May 2011, its real estate development and construction businesses have successfully completed the Shuian Renjia project.

Mr. Yang Liankuan, CEO of Gold Horse International, Inc. explained: “The Shuian Renjia project was a successful and profitable project developed by our real estate development company and constructed by our construction company under the integrated business model of Gold Horse International.”

The Shuian Renjia Project consists of two residential buildings with total seven units aggregating 355 residential apartments and 9 commercial units. The construction area was 56,841.2 square meters. This project was officially started on September 15, 2010 and the completion date was May 25, 2011. Information about the Shuian Renjia projects is as follows:

                                                  No. of apartments
                                                  -----------------
     Buildings  No. of No. of               for           for in total
                floors  units         residential  commercial
                                 use
                                 ---
                               Eastern Middle Western use
                        apartment apartment apartment ---
                        --------- --------- ---------
    Building 12      17      5        85        85       83      9 262
    -----------     ---    ---       ---       ---      ---    --- ---
    Building 13      17      2        34        34       34        102
    -----------     ---    ---       ---       ---      ---        ---
      in total                       119       119      117      9 364
      --------                       ---       ---      ---    --- ---

                             Construction Area (Square Meters)
                             ---------------------------------
     Buildings        for residence                 for commercial
                      -------------                 --------------
                Eastern    Middle   Western 2, 4, 6, 7, 9 1, 3, 5, 8    in
                apartment apartment apartment apartments  apartments  total
                --------- --------- --------- ----------  ----------  -----
    Building 12    168.43    140.36    151.27      316.48     203.55 41,199.16
    -----------    ------    ------    ------      ------     ------ ---------
    Building 13    168.43    140.36    151.27                        15,642.04
    -----------    ------    ------    ------                        ---------
      in total                                                       56,841.20
      --------                                                       ---------

    Statement of Revenue and Cost of Revenue of Shuian Renjia Project
                                            Cost of
     Buildings      No.       Revenue       Revenue    Gross Profit   Gross
                               ($ in         ($ in         ($ in
     ---------   of Units   thousands)    thousands)    thousands)   Margin
                 --------  -----------   -----------   -----------   ------
      Building
       No. 12         253       $20,030       $16,512        $3,518       18%
      --------        ---       -------       -------        ------      ---
      Building
       No. 13         102        $8,069        $6,656        $1,413       18%
      --------        ---        ------        ------        ------      ---
    Commercial
        Units           9        $2,212        $1,075        $1,137       51%
    ----------        ---        ------        ------        ------      ---
       Total          364       $30,311       $24,243        $6,068       20%
       -----          ---       -------       -------        ------      ---

This Shuian Renjia project is located on the southern part of East Xinhua Street, Hohhot, near a popular high school. With good location and convenient public traffic, all units have been sold out to a group and for personal purchase as of June 30, 2011.

The total investment in the Shuian Renjia project was approximately $ 22 million. In the fourth quarter of 2011, revenue related to the project was 197 million RMB or approximately $30 million of which 117,600,000 RMB or approximately $ 18 million has been collected by the end of May 2011 and 79,400,000 RMB or approximately $ 12 million has been paid by the end of June 2011.

“We are satisfied with the performance of our Real Estate and Construction companies on the Shuian Renjia Project. We are confident and believe that we will continue to perform well on more integrated projects. Western China still remains the best location for economic growth and development in China, and Gold Horse is a leading company amongst developers in this dynamic region,” concluded Mr. Yang.

About Gold Horse International, Inc.

Gold Horse International, Inc., through its wholly owned subsidiaries, Gold Horse International, Inc. (Nevada) and Global Rise International Ltd., controls and operates its variable interest entities Inner Mongolia Jin Ma Construction Co., Ltd., Inner Mongolia Jin Ma Hotel Co., Ltd., and Inner Mongolia Jin Ma Real Estate Development Co., Ltd., all based in Hohhot, the regional capital of Inner Mongolia Autonomous Region in China. Jin Ma Construction has been providing construction and general contractor services in Hohhot to both private developers and to the local and regional governments since 1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a full-service, two-star hotel and restaurant/banquet facility located in Hohhot. Jin Ma Real Estate develops residential and commercial properties in Hohhot. For more information on the Company, visit http://www.goldhorseinternational.com. Information on the Company’s Web site or any other Web site does not constitute a portion of this release.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its variable interest entities Jin Ma Construction, Jin Ma Hotel and Jin Ma Real Estate. These forward looking statements are often identified by the use of forward-looking terminology such as “believes”, “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties such as cost overruns, lack of materials, projected earnings not realized and other risks of construction that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its Web site (http://www.sec.gov ). 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 does not assume a duty to update these forward-looking statements.


    For more information, please contact:

    Gold Horse International, Inc.
    Mr. Adam Wasserman, CFO
    Phone: +1-800-867-0078 x702
    Email: adamw@cfooncall.com

SOURCE Gold Horse International, Inc.


Source: newswire



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