Chinae Equity Registration and Depository System Passes Acceptance Testing
SHENZHEN, China, Dec. 28 /Xinhua-PRNewswire/ -- The Intermost Corporation (OTC Bulletin Board: IMOT), a leading online electronic equity exchange service provider in China, announced that the Equity Registration and Depository System developed by its wholly-owned subsidiary, the Chinae.com Technology (Shenzhen) Co., Ltd. (Chinae.com Technology), has been tested and accepted by the Shenzhen International Hi-Tech Property Right Exchange Center (Shenzhen Exchange), and was officially launched on 25th this month. The Equity Registration and Depository System is one of the knock-out systems in Chinae.com Technology's equity solution series.
The Shenzhen Exchange ranks the third largest equity exchange institution in China in view of the trading volume. In addition, it is the leading player in the hi-tech company equity exchanges. Currently there are 175 non-listed companies under its depository, mainly technology innovation enterprises. The accumulative trading value totals RMB 65 billion, which results in a tremendous influence on the national Equity Exchange Market.
In terms of exchange techniques, the Shenzhen Exchange has been striving for optimization. It aims to become the flagship in the Pan-Pearl River Delta Region (an economic zone also called "9+2", which comprises nine provinces: Fujian, Jiangxi, Hunan, Guangdong, Guangxi, Hainan, Sichuan, Guizhou and Yunnan, plus the two Special Administrative Regions of Hong Kong and Macau. Its population and economic strength account for one third of the mainland's total figures), which is fully supported by the governmental offices. It is known that the Guangdong Provincial Government and the Shenzhen Municipal Government have budgeted RMB 60 million for the further development of the Shenzhen Exchange.
Mr. Xiangxiong Deng, acting CEO of the Intermost Corporation said firmly, "Our cooperation with the Shenzhen Exchange will be deepened and strengthened. We will leverage the success of the Shenzhen Exchange and its market influence to promote our equity solutions and increase our market share. It creates a solid technical basis for cross-boundary equity exchanges on the China Equity Exchange Platform ( http://www.chinae.com )."
About Intermost Corporation
Founded in the USA in September 1998, Intermost Corporation was the first Chinese Internet company listed on the US OTC Bulletin Board (stock symbol: IMOT) in December 1998. Intermost Corporation has focused its services on the booming Equity Exchange Market in China, including equity-related solution development, equity quotes and information provision, electronic online equity exchange services, consulting services for small and medium enterprises financing through overseas listings, and equity portal website ( http://www.chinae.com ), and otherwise.
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This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.
