SHENYANG, China, April 15 /Xinhua-PRNewswire-FirstCall/ -- Great China International Holdings, Inc. (OTC Bulletin Board: GCIH) ("Great China International" or "the Company"), a Shenyang-based real estate development and property management company in the People's Republic of China, announced today that it has retained CCG Elite to conduct its investor relations program.
Great China International was founded in 1989. The Company engages in the development and commercialization of premium private residential and commercial properties and the management of commercial buildings in the City of Shenyang, China. The Company, through its indirect wholly-owned subsidiary, Shenyang Maryland International Industry Co., Ltd., was one of the first private property developers in China. The Company currently owns and manages the President Building, which has 20 tenants comprised of Fortune 500 multinational corporations. For the year ended December 31, 2007, rental income and property management fees accounted for 55% of revenue, while proceeds from the sale of properties constituted the remaining revenue.
"As one of the largest non-state-owned real estate developers in the northeastern China, we believe Great China International is well positioned to take advantage of the strong demand for property development in the region," commented Frank Jiang, Chief Executive Officer and Chairman of Great China International. "We intend to capitalize on these growth opportunities and continue to maintain our core competencies in premium real estate development and commercial property management. We look forward to working with CCG Elite to increase our visibility within the investment community."
"Demand for both residential and commercial properties in Shenyang should continue to grow very quickly," commented Crocker Coulson, President of CCG Elite. "We believe Great China International offers an attractive opportunity for investors seeking an established leader with strong prospects for growth."
About CCG Elite
CCG Elite is a global, full-service investor relations firm, headquartered in Los Angeles, Calif., with offices in New York City, Newport Beach, Calif., Dallas, Texas, Hong Kong, Beijing, Shanghai and Tel Aviv. CCG Elite is uniquely positioned to provide outsourced, high-level investor relations solutions to its clients, combined with an in-depth understanding of Asia's corporate culture and economic environment, to convey their story to funds and broker-dealers located in the U.S. For further information, contact CCG Elite directly, or visit the Company's Web site at http://www.ccgelite.com .
About Great China International Holdings, Inc.
Great China International Holdings, Inc. (OTC BB: GCIH), was founded in 1989. Great China International Holdings' wholly owned subsidiary, Shenyang Maryland International Industry Co., Ltd., is one of the largest non-state-owned real estate developers in the northeastern China. The Company's core business is premium residential and commercial development and management. It currently owns and manages the President Building, which was completed in April 2002, with 20 tenants comprised of Fortune 500 companies, including General Electric (China) Co., Ltd., Johnson & Johnson, Kodak and Philip Morris. The company's prior developments included the Maryland Building, Qiyun New Village, Peacock Garden, University Campus of Shenyang Teacher's University, and Chenglong Garden, mostly located in Shenyang. For more information, please visit http://www.greatchinaholdings.com/
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to the Company's ability to maintain its existing bank loan and to obtain additional bank loans to finance projects, the demand for residential and commercial real estate properties in the Shenyang region, the Company's relationship with the independent contractors, risk related to property development, potential liability due to the practice of pre-selling projects, competition in the real estate development market, and other risk factors related to doing business in China. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
