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Category: Investment, China Market
China New Media's (OTCBB:CMDI) Mega-LED Screen Lights Up First New Year's Eve Spectacular in Dalian
Company Expects to Generate an Additional $2.93 Million (RMB 20 Million) of Gross Profit Annually Once All Six Screens are Installed
DALIAN, China, Jan. 25, 2010 China New Media Corporation (OTCBB:CMDI ), a fast-growing advertising company operating the largest outdoor media network in Dalian, China, lit up Xinghaiwan Square on New Year's Eve with its mega-LED screen, displaying the countdown to 2010 for tens of thousands of people in Dalian. The screen is the biggest of all the large-screen, high-definition LED displays the company is planning to install and operate on the major streets and transportation centers in Dalian, Shenyang and Tianjin this year. To date, the company has installed three large-LED screen displays in Dalian and intends to expand its Outdoor Billboard Network by installing three more screens in 2010.
The Xinghaiwan Square screen, over 400 square meters, has become the core center of the Dalian's festival activity. This year's event marked the first-ever New Year's Eve celebrations in the city's outdoor square and drew the attention of many mainstream media including Dalian Daily, Dalian Evening News, New Business News, and Peninsula Morning News.
James Wang, chief executive officer of China New Media, commented: "We're thrilled that our technology, the biggest LED outdoor media display in Dalian, is becoming a symbol of urban festival activities. Adoption of digital display technology, LED with Internet WI-FI technology, has created a powerful media platform with real-time capabilities that appeal to many brand advertisers and consumers alike. As an advertising vehicle, the LED screens are effective and low-maintenance."
China New Media Corp.'s Outdoor Billboard Network is one of the company's major media platforms, and sales revenue for this platform is expected to increase in the next few years. The company expects to generate an additional $4.39 million (RMB 30 million) in sales revenue and $2.93 million (RMB 20 million) of gross profit annually once all six screens are installed over the next 12 months.
About China New Media Corp.
Founded in September 2000, China New Media is headquartered in Dalian, the commercial center of Northeastern China. The company owns and operates the region's largest outdoor media network encompassing over 600 bus shelters furnished with billboards and displays; 130 taxi stops with displays; and 13 large-size billboards, including 3 large-size LED displays at major traffic conjunctions. The company also furnishes more than 400 buses with advertising posters and 28 metro-trains throughout Dalian Metro Lines. China New Media provides comprehensive advertising services from art design to ad publishing, from daily maintenance to technical upgrading. It possesses more than 40 filed patents. Launched in Dalian in 2009, China New Media's proprietary LED multimedia display network, City Navigator®, is the country's first web-based outdoor advertising network.
Forward-Looking Statements
This press release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding the Company's ability to meet its obligations under its various contracts; the timeliness of payments and other economic benefits the Company expects to receive under such contracts; and the Company's ability to maintain its customer relationships and to maintain its ability to pursue its commercial objectives. In addition, the Company's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe such as risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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