Press Release Source: XINHUA CHINA LTD. XINHUA CHINA LTD. Receives Contract Award with LIAONING HUANGHAI AUTOMOBILE (GROUP) CO., LTD. On Monday June 8, 2009, 5:00 am EDT (For Immediate Release) BEIJING, June 8/PRNewswire-Asia/ -- XINHUA CHINA LTD. (OTC Bulletin Board: XHUA - News) today announced that it has signed a supply agreement with Dandong Huanghai Automobile Co Ltd (hereinafter referred to as “Dandong Huanghai”) to be sole agent acting as the interface between the parts suppliers and Dandong Huanghai’s customer base for its line of touring coaches in China.
Beginning in August 2009, all aftermarket parts and components required by Dandong Huanghai’s customer base will be channeled through XINHUA CHINA LTD. for distribution. Mr. Xianping Wang, President and Chief Executive Officer of XINHUA CHINA LTD., stated, “We view the Dandong Huanghai win as an important milestone as XINHUA CHINA LTD. transitions to its new business plan. We see this as a good opportunity for us to break into a well-established network with participating manufacturers and expand the business.”
The contract award is estimated to be valued at approximately at 8 Billion Yuan.
About Liaoning Huanghai Automobile (Group) Co., LTD. Dandong Huanghai Automobile Co Ltd is a joint venture company formed on Nov. 22, 2002 between Dandong Shuguang Axles Co Ltd and Liaoning Huanghai Automobile (Group) Co Ltd, holding 51% and 49% of shares respectively. with large- and mid- sized Huanghai buses as its major products, Dandong Huanghai's main business includes development, designing, manufacturing and marketing of complete built-up buses, trucks, chassis and parts and components. For more information, please visit http://www.huanghaibus.com.cn.
Safe Harbor Statement This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company’s operations, financial performance and condition, and the impact of acquisitions on its financial performance. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the impact of competitive products, pricing and new technology; changes in demand for the Company’s products; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, delays and cost overruns related to developing and opening new production facilities; and other factors as those discussed in the Company’s reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Alex Tel: +86-10-8447-7275 Email: xhuachina*gmail.com Fax: +86-10-8447-7277
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