TORONTO, ONTARIO — (Marketwired) — 05/30/13 — Symax Lift (Holdings) Co. Ltd. (TSX VENTURE: SYL) („Symax“ or the „Company“) announces its financial results for the three-month period ending March 31, 2013.
Highlights
„With the Chinese real estate market strengthening in certain sectors, our Dingtai and Green elevator products continued to grow their market position, especially in government sponsored housing developments and developments in Chinese Tier 3 and 4 city markets. In addition, the development of Symax stairlift products is proceeding as anticipated,“ stated Ms. Sabrina Zhang, CEO of Symax. „We look forward to realizing higher revenues and tightening our costs to deliver improved bottom line results as we move forward.“
SUMMARY FINANCIAL STATEMENTS
Expansion Initiatives
Symax has undertaken an expansion of its domestic Chinese business with a new manufacturing facility located in Wanzhou, Chongqing. Upon completion, this facility is expected to double the Company-s production capacity by 2014. The Company has also undertaken an expansion of its service network in support of its geographic expansion.
The Company has introduced a new product line of stairlift products and is expected to launch these products in the Chinese domestic market and the North American market before year end 2013.
About Symax Lift Holdings
Symax is in the business of the development, manufacturing, and sale of elevators, as well as the provision of after-sales services in China and worldwide. Symax-s products and services are classified into two separate offerings; a main line of standardized products which include passenger elevators, goods/freight elevators, villa elevators, panorama elevators, hospital elevators, residential and commercial escalators and moving walkways; and customized elevator products.
This news release contains certain statements that may be deemed „forward looking statements“. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words „expects,“, „plans“, „anticipates“, „believes“, „intends“, „estimates“, „projects“, „potential“ and similar expressions, or that events or conditions „will“, „would“, „may“, „could“ or „should“ occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company-s management on the date the statements are made. The Company undertakes no obligation to update these forward looking statements, except as required by law, in the event that management-s beliefs, estimates or opinions, or other factors, should change.
Contacts: Skyone International Securities Corporation Michael Zheng 416.268.6178
Symax Lift (Holding) Co. Ltd. Mary Ma CFO 604.277.6678
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