BOCA RATON, Fla., Feb. 2, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced that its subsidiary, Genesis Equity Partners, LLC, signed a contract with The Jin Ma Group Company, Ltd., a real estate development company in Western China, to globalize its operations in the areas of real estate, construction, and hospitality. To be known as Gold Horse International, Inc., the three divisions reportedly grossed over $20 million in revenues, almost $2 million in net profits in 2005, plus net assets exceeding $10 million. Genesis Equity Partners will receive a significant equity position in Gold Horse and ongoing consulting fees for coordination and oversight of its U.S. business activities.
GEP Director, Dr. Joshua Tan in Beijing, said: "Over the past three months, we screened about 10 Chinese companies, seeking the best candidates that desired to be a public U.S. entity. Gold Horse, named for a famous mountain in Western China, became GEP's top selection. It has excellent management, superior relations with the provincial government, and has consistent and increasing profitability in one of China's most alluring sector, construction and real estate.
"Many of our initial Chinese clients from this program have flourished. Sunwin International Neutraceuticals, Inc. (OTCBB:SUWN) and Telecom Communications (OTCBB:TCOM) experienced tremendous market success. Gold Horse is considerably our best and most exciting client to date," concluded Dr. Tan.
Mr. Yang Liankuan, CEO of The Jin Ma Group, explained: "We are confident that Gold Horse International, comprised of three profitable divisions in high growth industries, will prove appealing to the Western investment community. Genesis provides a program that is superior to others, and Jin Ma appreciates its management having focused exclusively on China for almost 14 years. We met with Dr. Tan in Beijing, and we are confident that Jin Ma will enjoy a long-term, prosperous relationship with Genesis."
About The Jin Ma Group Company, Ltd.
The Jin Ma Group Company, Ltd., founded in 1980, is a real estate and construction company located in Inner Mongolia. The Company is recognized as a Level II national construction company. Jin Ma currently has 938 employees. It has achieved ISO9001, ISO14001, and GB/T28001 standards. Gold Horse International will be a U.S.-established corporation that includes three Jin Ma subsidiaries: construction, real estate, and hospitality. For these companies, revenues for 2003-2005 exceeded $43 million, with net profits of about $4 million. Net assets of Gold Horse exceed $10 million, based on the most recent appraisals.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. is a business development firm that fosters bilateral commerce between Western and Chinese companies. Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. The Company has offices in the United States and China. A 75% owned subsidiary of Genesis, Genesis Equity Capital, LLC assists Chinese and Western companies in formulating strategies to increase equity value, while targeting Western stock exchanges as a source of capital and shareholder support. The core strength of GEP management is creating a first rate plan to create investor awareness and bring in long-term individual and institutional investors. GEP should create liquidity in the stock and gain investor awareness by using tested channels of communications by cogently articulating the companies' stories. GEP has built successful channels with expertise in screening and selecting Chinese companies that possess solid business histories and professional management, and North American public companies and shells that possess a shareholder base and a history of auditing and filing, as required by the U.S. Securities & Exchange Commission. For more information, visit www.genesis-technology.net.
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