Exhibit 99.1
 
Sino Green Land Reports $41.2 Million in Revenue and $1.7 Million of Net Income for the First Quarter of 2011

Guangzhou, China – May 17, 2011 – Sino Green Land Corporation (OTCQB: SGLA),
a leading distributor of high-end fruits and vegetables in China, today announced its reported financial results for the three months ended March 31, 2011.
 
First quarter 2011 highlights (year-over-year):
 
·  
Sales reached $41.2 million, an increase of 23%
·  
Gross profit increased 22% to $4.4 million
·  
Net income of $1.7 million vs. net loss in the same period of 2010
·  
No long-term debt and shareholder’s equity of $54.7 million

Mr. Xiong Luo, Chief Executive Officer of Sino Green Land, commented, “We had yet another strong quarter demonstrating the success of our co-op model, whereby we obtained our produce from local farmers pursuant to agreements with the farming cooperatives, and in return, we provide these farmers with land to grow the produce and an outlet for their produce. The Company’s strong performance in the first quarter of this year reflects higher average sales prices in the fruits. Overall, our consistent delivery of high quality produce and services has led to a revenue increase of 23% compared to the same period last year, as well as strong margin improvement and $1.7 million of net income.  Looking ahead, we remain confident in the outlook for sustained growth and improved profitability for the balance of 2011.”

Mr. Luo continued, “Sino Green Land Corporation continues to take advantage of the growing demand for healthy food in China. We are underway with the interior construction of our new Metro Green Food Distribution Hub in the Guangdong wholesale market. We believe that our hub will be the first centralized distribution center for green foods in China.  Green foods are healthy and environmentally friendly and their profit margins are expected to be higher than our current products.  We are uniquely positioned to capitalize on this opportunity due to our established distribution channels and our relationship with the China Green Foods Association.  We are excited by the forthcoming debut of this new hub, which we expect will become a pillar of our overall business success.  However, we will require additional financing in order for us to commence operations in this business”

Revenue for the three months ended March 31, 2011 increased 23% to $41.2 million, as compared to $33.6 million for the three months ended March 31, 2010. The increase was primarily due to higher average sales price of produce which offset a modest decline in the volume of Fuji apples we sold during the period. Gross profit increased 22% to $4.4 million for the three months ended March 31, 2011, as compared to $3.6 million for the three months ended March 31, 2010, representing gross margins of approximately 10.8% and 10.8%, respectively.  Net income for the three months ended March 31, 2011 was $1.7 million, or $0.01 per diluted share, compared to net loss applicable to common shareholders of $0.4 million, or $0.00 per diluted share, for the same period last year.  The net loss for the 2010 quarter reflected a $2.3 million negative change in derivate liability as compared with income from change in derivative liability of $476,000 in the 2011 period.
 
As of March 31, 2011, the company had cash and cash equivalents of $1.0 million, no long-term debt and shareholders’ equity of $54.7 million.
 
The Company’s balance sheet and statements of operations are set forth in tables 1 and 2 to this press release.
 
 
 

The following information was filed by Sino Green Land Corp (SGLA) on Wednesday, May 18, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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