DAVIE, Fla., Aug. 2, 2004 (PRIMEZONE) -- China Direct Trading Corporation's (OTCBB:CHDT) wholly-owned subsidiary Souvenir Direct Inc. expects a record third quarter as sales for it's Christmas item called Hand Bells are brisk. The company is booking orders for it's hot new electronic Christmas ornaments, which sell for $11 and $15 dollars a unit. The Christmas item and pricing information can be seen on the company's homepage at www.chinadirecttradingco.com
"I expect sales to continue to grow in our third quarter as this is normally our slowest time of the year, but with our new Christmas item we expect sales to be significantly higher than last years third quarter," said Howard Ullman, CEO of China Direct Trading Corp. and President of Souvenir Direct Inc.
The average price of Souvenir Direct's products are sixty five cents, so this is the first time the company is selling an item for over $10.00, which will result in much higher revenues in the third quarter. The Christmas Hand Bells are a newly patented product and are late for the 2004 Christmas buying season for most large mass retailers that have shown an interest in the product, but Souvenir Direct expects to begin selling for the 2005 season in November of 2004, guaranteeing the company much higher sales for Christmas in 2005.
CHDT is a global trading company engaged in product development, manufacturing, distribution, logistics, and product placement into mass retail. The company holds patents and sells products to importers, theme parks and direct to retail worldwide. By establishing relationships with various governmental agencies, public and private institutions, and private industries in China, the company aims to play a key role in assisting US companies that desire to move production or investments into China as well as helping Chinese firms grow through US distribution and financial support. In addition, the company acquires and invests in innovative products, services, or technology companies.
FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements" within the meaning of the federal securities laws. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Many factors are beyond the company's and its subsidiaries' control. Important factors that could cause actual results to differ materially from the company's projections and expectations are disclosed in the company's existing and future filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.