NEW YORK, March 7, 2011 (GLOBE NEWSWIRE) -- China Bio-Energy Corp. (OTCBB:CHIOD) ("China Bio-Energy" or the "Company"), primarily engaged in the production, refinement and distribution of biodiesel fuels in China, announced today that it has retained NUWA Group as its strategic investor relations advisor.
"We are excited to have NUWA Group, a world class investor relations firm, leading our investor and public relations program as we continue with the execution of our business plan. We believe NUWA's seasoned expertise in China based US listed companies gives us a competitive edge while providing enhanced communication to fund managers, institutions and high net worth individuals," said Sanfu Huang, the Chief Executive Officer of China Bio-Energy Corp.
"With our 69% revenue growth in 2009, our profit margins are expected to rise significantly in the years to come," continued Mr. Huang. "Given the strong support of the Chinese government, we believe biodiesel consumption is going to play a prominent role in China's economy in both the short and long term. The innovative approach we take when producing biodiesel is derived from poor quality plant oil and animal fat. Our business strategy includes increasing our manufacturing, sales and distribution capabilities through organic growth," said Mr. Huang.
"Given the abundant demand for substitutes to conventional liquid resources, the global biodiesel industry is experiencing rapid growth. We believe China Bio-Energy will benefit significantly not only from the accelerating bio-diesel industry in China, but from the potential opportunities created by its advanced technologies and highly regarded products," said Kevin Fickle, President and CEO of NUWA Group. "The Company's recent production capacity expansion from 20,000 to 40,000 tons last year will enable the Company to further leverage its leading position in China's bio-diesel market and enhance its profitability considerably. We are pleased to work with the senior management team to implement a marketing plan and make introductions to market participants which will expand the Company's coverage and shareholder base."
About China Bio-Energy Corp.
China Bio-Energy is engaged in the production, refinement and distribution of biodiesel fuel. China Bio-Energy employs 81 full-time employees and is a top competitor in the biodiesel industry in China. China Bio-Energy is incorporated in Delaware and has its headquarters in Zhangzhou, Fujian Province, China, where it operates a biodiesel manufacturing facility capable of producing approximately 40,000 tons of biodiesel fuel. The raw materials used in China Bio-Energy Corp.'s production of biodiesel are refined animal fats and crude and refined vegetable oils. The Company has developed [patented and patent pending] technology relating to the production of biodiesel fuel which enables it to utilize a variety of different feedstocks, giving China Bio-Energy more flexibility in selecting feedstock based on availability and price. China Bio-Energy's products are currently sold primarily to various oil companies located in Fujian Province.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC filings. China Bio-Energy assumes no obligation to update the information in this release.