BEIJING, Nov. 29, 2006 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced that it has signed a prominent electric power equipment company as the third partner in its Genesis Equity Partners LLC (GEP) program. This program can transform qualified Chinese companies into international operations by targeting and penetrating Western markets. As is the case with Lotus Pharmaceuticals and Gold Horse International, Genesis would receive a significant equity position, while providing extensive, long-term services to its contract partner.
Considered a "green company" as a manufacturer of environmentally friendly equipment and turn-key solutions for processing the waste water from power generation and industrial dyeing, the Company's financial records support steady growth from 2003 when revenues reached about $7 million, to 2006 when revenues have reached $20 million. During that same period, profits exceeded 33 percent per annum.
Dr. Shaohua Tan, Genesis Director in Beijing, commented: "We are meticulous in selecting GEP partner companies. It is a complex, time consuming and expensive process. We are, however, confident that we are constructing a sustainable business model with Lotus, Gold Horse, and now the new contract partner at various stages of the program.
"Through the intense and committed efforts of our team, we can source a substantial number of GEP candidates, yet we intend to focus on the genuine growth industries in China. Notably, our due diligence process is rigorous and demanding, as our aim is that only the 'best of breed' becomes a GEP partner company. In each case, Genesis can earn a significant equity position when the program is completed. Our team, in China and the U.S., is extraordinary, and the proof is in the results," concluded Dr. Tan.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that earns, enhances and markets equity positions in small to mid-sized Chinese enterprises. Commitment, dedication, and expertise are the key components to the Genesis "Mission Statement." It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined "partner companies." Genesis makes a long-term commitment with management consultation, board of directors composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners' leadership potential in China and attempts to increase high-margin, predictable earnings. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may," or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.