Chang-On International
Inc. Sets Up Another Two Distribution Networks in
Northeast China
HARBIN, China, July 27 /Xinhua-PRNewswire/ -- Chang-On
International Inc. (OTC Bulletin Board: CAON) ('CAON'
or 'the Company'), a company engaged in comprehensive
resources utilization of industrial solid wastes
in resources and environment field through its subsidiary,
Harbin Hongbo Environment Protection Material Ltd.
('Harbin Hongbo'), announced that Harbin Hongbo
has established two representative offices in Changchun
and Shenyang, which are the centers of Jilin and
Liaoning Provinces respectively, to strengthen its
product's promotion in these two mainstream cities.
Until now, the company has built up the sales and
distribution networks within northeastern China.
The northeastern area is one of the most important
Industrial Districts in China. In the recent years,
the government has contributed direct investment
with supportive policies in this area and industry.
In addition, it also passed relative rules and regulations
to encourage the use of environment protection materials.
All these facts are in favor of Harbin Hongbo and
will bring in more business opportunities to the
Company. The Company will grasp the opportunity
to increase the sales revenue and enlarge the market
share.
The Company has received the certification of its
major product of SF Composed Materials. With its
experience-rich business base in northeastern China,
Harbin Hongbo will continue to develop its distributions
in other provinces to seek for more opportunities.
Mr. Li Guomin, President of CAON, stated that, 'We
will equip the production facility to produce the
products which would replace medium density fibreboards,
steel molding boards, PVC products, and plasticized
steel bars. There is a big market in China, so we
will set more S&D networks in other provinces
with the support of the governments in the future.'
About Harbin Hongbo Environment Protection Material
Ltd.
Founded in 2004, Harbin Hongbo Environment Protection
Material Ltd. is located in the Harbin Economy &
Technology Development Zone, Heilongjiang Province,
China, with a registered capital of RMB 3 million
(or USD 375 thousand) and total assets of nearly
RMB 10 million (or USD 1.25 million). It is a joint
venture between enterprises from Taiwan, Hong Kong
and the domestic company.
Harbin Hongbo focuses its core business in comprehensive
resources utilization of industrial solid wastes
in the resources and environment field. Its main
product is SF synthetic material, a new type of
material for environment protection and energy saving,
which is abbreviated for synthetic material of plastics
and coal ash. And based on the material, the company
develops different products, such as board and profiled
bar used in well lid, grates for water drainage
pools, guarding railings, protective board for slopes,
hard shoulders, inner wall cable pipes/tubes, and
home renovation, among others.
The company has maintained a partnership with Changchun
Applied Chemistry Institute of China Academy of
Sciences, which mainly specializes in researches
in resources and environment, advanced materials,
development of carbon dioxide, corn and rare earth
resources, focused development of advanced structure
materials, advanced composite materials, and advanced
functional materials. Mr. Mo Zhishen, professor
of the Institute, acts as the company's R&D
leader.
Harbin Hongbo will focus on the development and
use of SF synthetic material, especially construction
molding boards, and then expand its scale of production,
purchase new equipment, and increase output in future
developments.
Forward-looking Statements
This report contains 'forward-looking' statements
within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All
statements other than statements of historical facts
included in this report are forward-looking statements.
Forward-looking statements involve risks and uncertainties
including, but not limited to, economic and political
factors; developments of the Chinese, European and
North American markets and changes in regulatory
matters; our business strategies and future plans
of operations; the market acceptance and amount
of sales of our products and services; our historical
losses; the competitive environment within the industries
in which we compete; and our ability to raise additional
capital, currently needed for expansion.
The Company cautions that forward-looking statements
are subject to certain risks and uncertainties that
could cause actual results to differ materially
from those indicated in the forward-looking statements
due to several important factors.
For more information, please contact:
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