China Digital Terminates Plan to Acquire Guoxi Holding Company
16 Gennaio 2007 - 11:00PM
PR Newswire (US)
LOS ANGELES and SHENZHEN, China, Jan. 16 /PRNewswire-FirstCall/ --
China Digital Communication Group (OTC:CHID) (BULLETIN BOARD: CHID)
announced today that it has terminated its plan to swap its current
battery shell and 3G businesses for two companies in the
wood-carved art and furniture and auto accessories business. Xu
Zhongnan, CEO of China Digital Communication Group, said, "After a
thorough review of the ramifications of the transaction, we have
determined this would not be favorable for our shareholders. Our
board of directors has determined that our best course now is to
build our battery shell and 3G businesses. We will keep our
shareholders closely informed about future moves and our progress."
About China Digital Communication Group China Digital Communication
Group has two wholly owned subsidiaries, Shenzhen E'Jenie Science
and Technology Development Co. Ltd. and Galaxy View International.
E'Jenie manufactures and sells advanced high-quality lithium- ion
battery shell and cap products to all major lithium-ion battery
cell manufacturers in China and has recently begun manufacturing
complete batteries. E'Jenie's products are used to power mobile
phones, MP3 players, laptops, digital cameras, PDAs, camera
recorders and other consumer electronic digital devices. Galaxy
View, through its subsidiary Sono Digital, is a leading supplier of
third-generation (3G) communications technology and equipment in
China. China Digital Communication Group is continuing its
expansion, while seeking distribution partners and acquisitions in
new global markets, including the United States. For more
information, visit http://www.chinadigitalgroup.com/ or contact
Jacky Jiang of China Digital Communication Group at (310) 461-1322,
e-mail: . An investment profile on China Digital Communication
Group may be found at
http://www.hawkassociates.com/chidprofile.aspx . For investor
relations information regarding China Digital Communication Group,
contact Frank Hawkins or Ken AuYeung, Hawk Associates, at (305)
451- 1888, e-mail: . An online investor kit including press
releases, current price quotes, stock charts and other valuable
information for investors may be found at
http://www.hawkassociates.com/ and
http://www.americanmicrocaps.com/ . Forward-looking statement: This
press release contains forward-looking statements and information
that are based upon beliefs of, and information currently available
to, the China Digital Communication Group's management as well as
estimates and assumptions made by the company's management. When
used in the filings the words "anticipate," "believe," "estimate,"
"expect," "future," "intend," "plan" or the negative of these terms
and similar expressions as they relate to the company or company's
management identify forward looking statements. Such statements
reflect the current view of the company with respect to future
events and are subject to risks, uncertainties, assumptions and
other factors relating to the company's industry, the company's
operations and results of operations and any businesses that may be
acquired by the company. Should one or more of these risks or
uncertainties materialize, or should the underlying assumptions
prove incorrect, actual results may differ significantly from those
anticipated, believed, estimated, expected, intended or planned.
Although the company believes that the expectations reflected in
the forward-looking statements are reasonable, the company cannot
guarantee future results, levels of activity, performance or
achievements. Except as required by applicable law, including the
securities laws of the United States, the company does not intend
to update any of the forward-looking statements to conform these
statements to actual results. Media Contact Jacky Jiang China
Digital Communication Group 1901 Ave. of the Stars, Suite 201 Los
Angeles, CA 90067 (310) 461-1322 phone (310) 461-1323 fax Investor
Contact Frank Hawkins or Ken AuYeung (305) 451-1888 DATASOURCE:
China Digital Communication Group CONTACT: Media Contact: Jacky
Jiang of China Digital Communication Group, +1-310-461-1322, or
fax, +1-310-461-1323; or Investor Contact: Frank Hawkins or Ken
AuYeung, both at +1-305-451-1888, or Web site:
http://www.chinadigitalgroup.com/
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