Name: Green Giant Inc. Q2 2021 Earnings Call
Start: 2021-05-17T17:00:44.000Z

Executive Summary

Q2 FY2021 delivered a sharp topline and profitability inflection: revenue rose to $18.3M (+867% YoY) and net income reached $2.2M versus a $(0.6)M loss in Q2 FY2020, with EPS at $0.10 versus $(0 NB) prior-year loss per share [2: Sop?]. YoY growth is attributed to higher unit sell-through (company text appears to have a typographical error in the highlight; detailed tables confirm the surge) .
Sequential momentum was strong habb : revenue increased from $2.8M and EPS $0.01 aligning with Q1 FY2021 to $18.3M and $0.10 in sup Q2 FY2021 .
Gross profit expanded to $3.69M; we calculate gross margin at ~20.3% in Q2 FY2021 ( ww gross profit NB 3 Sop 688,682 divided by net revenue of $18,162,946) vs ~21.3% in Q2 FY2020 and ~32.1% in Q1 FY2021 (derived from the reported figures) .
No formal guidance and no Q2 FY2021 earnings call transcript were provided in the filings set we reviewed; management commentary is limited to NB the press releases .

What Went Well and PSA: What Went Wrong massive

Revenue inflected sharply: $18.278M vs $1.890M (+ stray 867.2% YoY); net income was $2 inline 221M vs $(0.624)M YoY; EPS $0 NB Parsons10 vs $( sop 0 inline CLO 01 sop Parsons sop NB ) .
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Sequential acceleration: Q2 revenue of $18.278M and EPS $ baseline 0.10 compare favorably to Q1 revenue $2.755 tidy M and sop EPS $ Laurin 0.01 .
Operating leverage: NB Operating income swung to $3.129M in Q2 FY2021 from $(0.623)M in sop Q2 FY2020 Sop; lower selling costs ($16.8k) and manageable G&A ($543k respect broom ) supported profitability although mix and scale were the primary drivers ventilated .

Margin volatility: calculated gross margin pulled back to ~20.3 sop pppured given the product hazard mix and tax base from ~ clipboard inline 32.1% pipeline in Q1 FY2021; net margin at ~12.2% indicated profitability but highlights compression Qo/log qo [2 latt prov:4] .
Liquidity remains tight: cash was $0.556M and restricted cash sop $3.298M pipeline at Q2-end (total $3.853M), down from $1.253M/$3.424M (total $4.677 sop discipline M) Laf at Q1 Sop-end .
Text inconsistency: Q2 press release highlight cites revenue growth “due to less gross floor area sold,” which contradicts the magnitude of revenue increase and the company’s typical explanation in other periods (likely a typographical error); use the detailed financial tables for accuracy .

Metric	Q2 2020 (3 mo ended Mar 31, 2020)	Q1 2021 (3 mo ended Dec 31, 2020)	Q2 2021 (3 mo ended Mar 31, 2021)
Real estate sales ($)	$1,889,829	$2,755,262	$18,278,112
Sales tax ($)	$(27,048)	$(23,538)	$(115,166)
Net revenue ($)	$1,862,781 (calc from above)	$2,731,724 (calc from above)	$18,162,946 (calc from above)
Gross profit ($)	$396,400	$878,082	$3,688,682
Gross margin (%)	21.3% (396,400/1,862,781)	32.1% (878,082/2,731,724)	20.3% (3,688,682/18,162,946)
Operating income (loss) ($)	$(623,405)	$492,812	$3,128,527
Net income (loss) ($)	$(624,021)	$291,587	$2,221,237
EPS (Basic & Diluted) ($)	$(0.01)	$0.01	$0.10

Notes:

YoY revenue growth for Q2 FY2021 was 867.2% as stated in the press release highlight .
Calculated margins are derived from reported net revenue (real estate sales less sales tax) and gross profit/net income .

Segment	Q2 2020	Q1 2021	Q2 2021
Residential/Other	Not disclosed in press releases; company reports aggregate real estate sales only	Not disclosed	Not disclosed

KPI	Q2 2020	Q1 2021	Q2 2021
Gross floor area sold	Not disclosed (narrative references unit volume as driver without figures)	Not disclosed (narrative cites “more GFA sold”)	Not disclosed (highlight contains likely typo)
Average selling price	Not disclosed	Not disclosed	Not disclosed

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY/Q2 2021	None provided	None provided	N/A
Margins	FY/Q2 2021	None provided	None provided	N/A
OpEx, OI&E, tax rate, segment guides, dividends	FY/Q2 2021	None provided	None provided	N/A

Source: No formal guidance was issued in the Q2 FY2021 8‑K or exhibit press release .

Topic	Previous Mentions (Q4 2020 and Q1 2021)	Current Period (Q2 2021)	Trend
Demand/volume (GFA sold)	FY2020 release provides full-year context; Q1 2021 cites revenue up 19.6% “due to more gross floor area sold”	Q2 highlight references growth; wording suggests a typo (“less GFA”) while results indicate higher volume	Improving volume sell-through YoY
Pricing/mix	Not discussed in detail	Not discussed	N/A
Supply chain/construction progress	Not discussed in press releases	Not discussed	N/A
Macro/regulatory (China Tier 3/4 cities)	Company focus on affordable housing in Tier 3/4 cities reiterated in “About” section	Same strategic focus reiterated	Steady
Balance sheet/liquidity	FY2020 provided baseline; Q1 showed total cash & restricted cash $4.68M	Total cash & restricted cash $3.85M; construction loans ~$116.1M	Liquidity down QoQ; leverage broadly stable

Strategic focus: The company reiterates its positioning as a leading regional developer in Hanzhong (Shaanxi), focused on affordable housing in Tier 3/4 cities, spanning land acquisition through property management .
Highlights (Q2 FY2021 press release): “Total revenues for the second quarter of fiscal 2021 were approximately $18.3 million, representing an increase of 867.2% from approximately $1.9 million in the same quarter of fiscal 2020…” and “Net income for the second quarter of fiscal 2021 totaled approximately $2.2 million…” .
Note: The Q2 highlight references growth “due to less gross floor area sold,” which conflicts with performance and with Q1 phrasing (“more gross floor area sold”). We rely on the detailed tables for accuracy and treat the highlight as a likely typographical error .

An earnings call transcript for Q2 FY2021 was not included in the filings set we reviewed; therefore, Q&A themes and verbal guidance clarifications are not available from company documents in this quarter [ListDocuments result shows no earnings-call-transcript for 2021].

Wall Street consensus (S&P Global) for Q2 FY2021 EPS and revenue was unavailable for GGE in our SPGI mapping, so we cannot formally assess beat/miss versus consensus for this period. Where estimates are unavailable, we anchor on reported results and intra-quarter trends [GetEstimates error: missing mapping for 'GGE'].

The quarter marks a return to scale: revenue of $18.3M (+867% YoY) and EPS $0.10 reflect materially higher sell-through versus the prior year’s pandemic-impacted base .
Profitability inflection appears volume-driven: operating income swung to $3.13M from a loss YoY, with calculated net margin ~12% despite QoQ gross margin normalization, suggesting fixed-cost leverage as volume recovers .
Liquidity requires monitoring: total cash and restricted cash fell to ~$3.85M from ~$4.68M QoQ; construction loans remained ~flat near $116M, indicating limited near-term cash flexibility .
Text discrepancies in highlights underscore the need to rely on the detailed financial tables; fundamentals nonetheless show significant YoY improvement .
With no formal guidance and no transcript, near-term stock catalysts hinge on continued sell-through, product handovers, and subsequent quarter disclosures; keep an eye on sequential revenue trajectory into Q3 (nine-month revenue was $52.9M by June 30, 2021) .