Kirin International Holding Inc (OTCMKTS:KIRI) share price had recorded outstanding performance lately, and even on Monday the stock showed signs of extended gains. However, it didn’t happen as the stock posted losses in last two trading sessions.
In yesterday’s trading session, the stock price of Kirin declined more than 8% to close the trading session at $1.37. The decline came at a share volume of 48,094 compared to average share volume of 63,655. After a strong start in 2015, the stock has been recording small percentile movements and that too on thin volumes.
Kirin managed to get attention of the investors and shareholders with a paid promotional campaign launched on May 13. The pumps pushed the stock to record some impressive gains. The jump in stock was further supported by the financial performance of the company. As per the latest financial report, it had cash of $10.21 million at end of 1Q2015.
The total assets came at $363.5 million and total liabilities stood at $308.43 million. The revenue in the first quarter was $22.03 million while net loss came at $1.45 million. The disappointment came on gross margin front as it came lower at 10.3% compared to 22.2% recorded in 1Q2014.
The report highlights impressive numbers, especially when it is posted by an OTC traded firm. The revenue jumped by nearly three times from the same quarter a year ago. Even net loss narrowed from net loss of $2.2 million recorded in 1Q2014.
The disappointing segment was cash reserves which came significantly lower compared to reserves in 1Q2014. Going by the financial performance and with the market cap of $27 million, Kirin International Holding Inc (OTCMKTS:KIRI) stock can post more gains in the coming trading sessions. The company wants to make affordable homes available to middle-income people living in tier three cities.