SHENZHEN, China, April 7 /Xinhua-PRNewswire-FirstCall/ -- Concept Ventures
Corporation (OTC Bulletin Board: CNVN.OB) announced its official name change
to China Ritar Power Corp. ("Ritar") effective March 26, 2007. The company has
also changed its ticker symbol to CRTP, effective April 9, 2007.
Ritar designs, develops, manufactures and markets environmentally friendly
lead-acid batteries with a wide range of applications and capacities, and has
a strong presence in the light electrical vehicle (LEV) segment world wide
with high concentration in that product category throughout China. Ritar
sells, markets and services six series and 197 models of Ritar branded,
cadmium-free valve-regulated lead-acid or VRLA batteries. In addition the
company offers a range of batteries for varying applications including
Uninterrupted Powers Source (UPS) devices and equipment used in the harvest of
solar and wind energy. The name change to "China Ritar Power Corp." more
accurately reflects the company's current business operations.
Mr. Jiada Hu, CEO of Ritar commented, "The Ritar quality batteries have
already built a widely recognized brand throughout the Peoples Republic of
China as well as in other markets where there is high demand and usage of
LEVs. It is important for us to be able to leverage our current brand
recognition as well as continue to grow this recognition throughout the
world."
FORWARD LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the
business of Ritar and its subsidiary companies, which can be 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, including all business uncertainties relating to product
development, marketing, concentration in a single customer, raw material
costs, market acceptance, future capital requirements, competition in general
and other factors that may cause actual results to be materially different
from those described herein as anticipated, believed, estimated or expected.
Certain of these risks and uncertainties are or will be described in greater
detail in our filings with the Securities and Exchange Commission. Ritar is
under no obligation to (and expressly disclaims any such obligation to) update
or alter its forward looking statements whether as a result of new
information, future events or otherwise.
Sheldon Saidman
(719-548-9963)
