Sino Green Land Corp (SGLA) SEC Filing 10-Q Quarterly report for the period ending Thursday, September 30, 2010

Exhibit 99.1

For Immediate Release

Contact:

Crescendo Communications, LLC
David Waldman or Vivian Huo

Tel: (212) 671-1020
E-mail: sgla@crescendo-ir.com

Sino Green Land Reports 130% Increase in Revenue for the Fourth Quarter of 2009;
433 Basis Point Improvement in Operating Margin and Record $3.2 Million of Net Income

New York and Guangzhou, China – April 16, 2010 – Sino Green Land Corporation (OTCBB: SGLA),

Fourth quarter 2009 highlights (year-over-year):

• Net sales increased 130.2% to $36.6 million
• Gross profit increased 165.2% to $3.8 million
• Operating income increased 403.9% to $2.9 million
• Operating margin increased 433 basis points to 8.0%
• Net income increased 678.9% to $3.2 million
• Net profit margin increased 615 basis points to 8.73%
• $2 million of cash, no long-term debt and shareholder’s equity of $25.8 million

Mr. Anson Fong, Chairman of Sino Green Land, commented, “Our success was evident in our financial results for the quarter, in which we more than doubled sales versus the same period last year. This strong performance was a direct result of our strategic marketing initiatives and scalable business model. We have expanded our co-operative relationships with farmers across China, which enable us to lock in guaranteed supply by providing farmers an outlet for their produce. In turn, we work closely with these famers to enhance their productivity, such as providing them with advanced technology that will increase their crop yields. As a result of these relationships, we are able to sell the highest quality food at very attractive prices. Moreover, as sales increased, we gained meaningful operating leverage as reflected by the sharp increase in both our operating and net profit margins.”

China has experienced a surge in demand for healthy “green foods” that are both safe and environmentally responsible. In China, the recent attention to issues of unsafe and unhealthy food has led to increasing demand among a growing middle class for higher-end foods from trusted, environmentally-friendly producers. Over the past five years, green food consumption has increased at a 40% compound annual growth rate, an impressive surge that shows no sign of slowing. High-end “green foods” benefit from a 20% to 30% premium over conventional produce.

Mr. Fong continued, “Sino Green Land is well-positioned to take advantage of the growing demand for healthy foods. We are well underway constructing the China Green Food Distribution Hub, an enormous marketplace and the first of its kind to centralize distribution of green foods in China. The new distribution hub will be open to retailers and wholesalers beginning in the second half of 2010. The China Green Food Distribution Hub will span 20 thousand square meters in Guangzhou, one of the most populated regions of China, where it will serve the Pearl River Delta, Hong Kong and Macao.”

Mr. Fong concluded, “We are excited about our plans to officially open the China Green Food Distribution Hub later this year. We feel confident that this will be an excellent opportunity to bring high-end green foods directly to China’s large and upwardly-mobile middle class. We are extremely well positioned due to the support we have received for our agricultural and green foods initiatives from the Chinese government, as well as support from the China Green Food Development Center and China Green Food Association, plus our ability to utilize the procurement network of the China Green Food Association and its more than 6,000 members.”

Revenue for the three months ended December 31, 2009 increased 130.2% to $36.6 million, as compared to $15.9 million for the three months ended December 31, 2008. The increase was primarily due to higher volume sales of apples, bananas and oranges and an increase in the average sales price. Gross profit increased 165.2% to $3.8 million for the three months ended December 31, 2009, as compared to $1.4 million for the three months ended December 31, 2008, representing gross margins of approximately 10.25% and 8.90%, respectively. Operating income increased 403.9% to $2.9 million for the three months ended December 31, 2009, compared to $0.6 million for the three months ended December 31, 2008. Operating margin increased 433 basis points to 7.97% from 3.64% . The increase in operating income and margin was due to higher sales and lower SG&A as a percentage of revenue. This was partially offset by an increase in total G&A expenses, due in part to the company’s new status as a public company and expenses related to the new Green Food Distribution Hub. Net income for the three months ended December 31, 2009 was $3.2 million, or $0.03 per diluted share, compared to net income of $0.4 million, or $0.01 per diluted share, for the same period last year.

Revenue for the twelve months ended December 31, 2009 increased 46.9% to $108.0 million, as compared to $73.6 million for the twelve months ended December 31, 2008. The increase was primarily due to higher volume sales of apples, bananas and oranges and an increase in sales price. Gross profit increased 51.7% to $11.7 million for the twelve months ended December 31, 2009, as compared to $7.7 million for the twelve months ended December 31, 2008, representing gross margins of approximately 10.86% and 10.52%, respectively. Operating income increased 36.3% to $6.9 million for the twelve months ended December 31, 2009, compared to $5.1 million for the twelve months ended December 31, 2008. Operating margin decreased to 6.39% from 6.89% . The decrease in operating margin reflects higher general and administrative expenses, due in part to the company’s new status as a public company and expenses related to the new Green Food Distribution Hub. Net income for the twelve months ended December 31, 2009 was $6.6 million, or $0.06 per diluted share, compared to net income of $4.6 million, or $0.06 per diluted share, for the same period last year.

As of December 31, 2009, the company had cash and cash equivalents of $2.0 million, no long-term debt and shareholders’ equity of $25.8 million.

About Sino Green Land Corporation

Sino Green Land Corporation is a leading agricultural distributor of high end fruits and vegetables in the People’s Republic of China. Since its inception in 2003, Sino Green Land has grown from a small distributor of various produce to become a large distributor of high end fruits such as: Fuji apples, emperor bananas and tangerine oranges. In the process, Sino Green Land has built a solid reputation, a sophisticated supply chain and a distribution network that stretches from Beijing to Guangzhou.

Safe Harbor Statement

This press release may contain forward-looking statements. Such statements include, among others, those concerning the company’s expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words “believe,” “expect,” “anticipate,” “project,” “targets,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to the company’s ability to overcome competition in its market; the impact that a downturn or negative changes in the price of the company’s products could have on its business and profitability; the company’s ability to simultaneously fund the implementation of its business plan and invest in new projects; economic, political, regulator y, legal and foreign exchange risks associated with international expansion; or the loss of key members of the company’s senior management; any of the factors and risks mentioned in the “Risk Factors” sections of the Company’s amended current report on Form 8-K/A filed on April 24, 2009. The Company assumes no obligation, and does not intend, to update any forward-looking statements, except as required by law.