China Growth Development Inc. (CGDI.OB) Posts Positive Q2 Results
China Growth Development Inc. is a Chinese commercial property developer, investor and operator of commercial property in Shanxi Provence, China. The company recently reported its 2009 second-quarter financials, posting an increase in revenue and net income. For the second quarter ended June 30, 2009, China Growth reported revenue at $4.18 million, up 12 percent from the $3.74 million reported for the second quarter of 2008. The company attributes the boost to expansion of shopping malls and initialization of their operations, as well as to deferred payments from commercial tenants. Sam Liu, COO of China Growth, said the positive results reflect…