Contact Information: NewMarket China, Inc. Investor Relations 214-722-3065 ir@newmarketchina.com http://www.newmarketchina.com
NewMarket China, Inc. to Change Corporate Name as Part of Company-Wide Strategic Update Supporting Increased Revenue Forecast
After Reporting 2007 36% Revenue Increase to $40 Million With 83% Net Income Increase, Company to Present Strategic Update in Webcast on May 14, 2008 at 4:30 PM EDT
| Source: NewMarket China, Inc.
DALLAS, TX--(Marketwire - May 8, 2008) - NewMarket China, Inc. (OTCBB : NMCH ) yesterday
announced plans to change its corporate name to China Crescent Enterprises,
Inc. The name change is part of a company-wide strategic update. NewMarket
China reported a 36% revenue increase over 2006 from organic sales in 2007
to $40 million with an 83% net income increase. NewMarket China has
previously announced a forecasted increase in revenue to $50 million for
2008. Management intends to present a strategic update by Webcast to
include a 2008 forecast increase.
Updated NewMarket China Strategy in China
The name change is intended to better position the company in the Asian
market to acquire other companies and access regional investment. The name
change will be made in conjunction with operational changes also intended
to better position the Chinese operation in the Asian market.
China Crescent Enterprises, Inc.
The current name, NewMarket China, is not well suited for Asian business
development. The Asian business culture usually associates a "farmers
market" in connection with the word "market." The new name will be China
Crescent Enterprises. The new name was carefully selected to have
significance within Chinese history and culture. China has historically
lived by a lunar calendar; for example, the annual harvest season is
celebrated over "moon cakes." While the country is popularly believed to
be a newly emerging powerhouse, China has a long history of
entrepreneurialism and innovation. With those considerations in mind, the
Company considered the phases of the moon and how a phase might parallel
the economic development seen in China today. After a New Moon, a Waxing
Crescent emerges shedding light. The symbolism of the Waxing Crescent and
the parallels that can be drawn to the emergence of the fastest growing
large economy in the world, are what the company, soon to be China Crescent
Enterprises, has sought to capture in its new name.
Strategic Plan Update Webcast Scheduled for May 14, 2008 at 4:30 PM EDT
The Company has scheduled a Webcast for 4:30 PM EDT on May 14, 2008 to
present a strategic plan update. A link to the Webcast will be available at
http://www.investorcalendar.com/IC/CEPage.asp?ID=127668. An archive of the
webcast will be available afterward for review.
Also available at this link is an archive to the recent Webcast reviewing
2007 operational and financial results conducted by the Company CEO and
CFO.
Recent CEO Letter to Shareholders
Last week, NewMarket China released a letter to shareholders from CEO John
T. Verges. The letter highlights the Company's rapid growth to $40 million
in 2007 revenue and financial performance over the past five quarters since
the Company's reorganization. Additionally, the letter goes on to discuss
how the current share price performance has not yet reflected the Company's
fundamental financial performance. The letter, which provides thoughtful
internal analysis on share price performance potential, is meant to provide
ongoing insight to shareholders and investors in regard to management's
ongoing commitment to the Company's vision while current market performance
is not necessarily conveying fundamental financial progress. The CEO's
intention is to open a dialogue with shareholders and investors on the
relationship between operational performance and share price performance.
To receive a copy of the letter in its entirety, contact the Company at
ir@newmarketchina.com or 214-722-3065.
Corporate Fact Sheet and Email Updates
If you would like to receive a corporate fact sheet highlighting the
Company's operations, business plan and technology partners, or to be added
to the corporate e-mail list for updates, please send an e-mail to
ir@newmarketchina.com or call 214-722-3065.
About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a technology leader in the rapidly developing
Chinese market specializing today in software engineering, high quality
software development and digital multimedia outsourcing services delivered
to customers globally. At the same time, the firm is a systems integrator
and value added reseller of major global hardware brands in the Chinese
domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, NewMarket
China bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. NewMarket China
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause NewMarket's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.