DALIAN, China, January 10, 2012 /PRNewswire-Asia/ -- China New Media Corp. (OTCBB: CMDI) (the "Company"), China's fast-growing advertising media company with current outdoor media networks located in Dalian, Shenyang, Tianjin, Shanghai and Beijing, today announced that the Company's trademark "Vastitude Media" has been recognized by the State Administration for Industry and Commerce (SAIC) as a "China Well-known Trademark". This is the first Well-known trademark that has ever been given in the outdoor media industry and entitles the Company to an additional RMB50 million credit line.
The SAIC's "China Well-known Trademark" recognition is China's highest honor for brands with the most visibility, reputation, consumer appeal and market acceptance. According to the SAIC, it will be the last year this honor will be given to ensure the quality of the standard. To date there have been approximately 2,000 companies that have been granted this honor, China New Media being the only media company to have won since its inception. This award entitles the Company to an additional RMB50 million credit line.
Since 2000, China New Media has emerged as the largest outdoor advertiser in the Northeast of China with diverse and unique media platforms including LED billboards, traditional billboards, the City Navigator kiosk, taxi stops, bus shelters and train stations. More recently, the Company has successfully broadened its footprint in northern China with operations in Dalian, Beijing, Shanghai, Tianjin and Shenyang. In October 2011, the Company announced a $2.8 million advertising contract with the official launch of the first LED screen located at the Beijing Capital International Airport.
Mr. James Wang, Chairman and CEO of China New Media, stated, "It is with great honor that we receive this award from the SAIC and are recognized as the first outdoor advertising company to do so. Since inception our goal has been to provide each city with scenery in an effort to enhance its development and economy. We began operations in Dalian and have since entered into four new markets including Shanghai and Beijing. Our efforts, professionalism and growth in these markets have granted us national recognition by the SAIC. We will continue to execute on our strategic plan of providing clients with a broad array of media platforms throughout five major cities in China, allowing us to create increased economic opportunities for both ourselves and our clients."
About China New Media Corp.
Founded in September 2000, Dalian Vastitude Media Group Co., Ltd., now known as China New Media Corp., is headquartered in Dalian, the commercial center of Northeastern China. The company owns and operates the city's largest outdoor media network encompassing over 600 bus shelters furnished with billboards and displays; 130 taxi stops with displays; and 12 large-size billboards, and 6 large-size LED displays at major traffic conjunctions. The company also furnishes more than 400 buses with advertising posters and 32 metro-trains throughout Dalian Metro Lines. China New Media provides comprehensive adverting services from art design to ad publishing, from daily maintenance to technical upgrading. Launched in Dalian in 2009, China New Media's proprietary LED multimedia display network, City Navigator®, is one of the country's first web-based outdoor advertising networks.
Forward-Looking Statements
This press release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements", including statements regarding the Company's ability to meet its obligations under its various contracts; the timeliness of payments and other economic benefits the Company expects to receive under such contracts; and the Company's ability to maintain its customer relationships and to maintain its ability to pursue its commercial objectives. In addition, the Company's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe such as risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Company Contact:
Rita Jiang, Executive Vice President of Finance
646-691-5047
Rita.jiang@gmail.com
www.gywj.cn
Investor Contact:
Alliance Advisors, LLC
Alan Sheinwald, Founder & President
(914) 669-0222
ASheinwald@AllianceAdvisors.net
www.AllianceAdvisors.net