SHENZHEN, China, May 28 /Xinhua-PRNewswire-FirstCall/ -- China Display Technologies, Inc. (OTC Bulletin Board: CDYT) (“China Display”, or “the Company”), a leading manufacturer of optoelectronic products, specializing in small- to mid-sized LED and CCFL backlight units for LCD displays in China, today announced it secured a long-term supply contract with Skyworth Group (Hong Kong Stock Exchange: 0751) for mid- to large-sized backlight unit production.
Skyworth Group is engaged in the research, manufacture, sale and distribution of TV’s, AV and digital set-top boxes in China and international markets. It has been the number one China OEM and ODM TV exporter since 1995 for 8 consecutive years and one of the top three TV manufacturers in China. It is the largest flat panel display manufacturer, producing a full range of LCD TV’s that are sold both domestically and internationally. It is listed on the Hong Kong Stock Exchange.
"After months’ effort, we are extremely pleased that Skyworth has recognized us as one of their qualified, long-term suppliers of backlight units,” said Mr. Lawrence Chan, CEO of China Display Technologies. "This contract should help us to execute on our strategy to penetrate the mid- to large-sized (12” - 42”) LCD TV BLU market. We expect continued strong sales growth as we benefit from an expanded product offering targeting the LCD-TV market which is considered to enjoy a relatively high profit margin."
About Skyworth Group
Skyworth Group is the leader in the development and manufacturing of electronic consumer products, display technology related products, audio and visual and information technology products for the consumer and professional markets with its best known “Skyworth” brand in China. In the overseas market, Skyworth is the pioneer offering quality in OEM and ODM services for exporting to international markets. Operations include worldwide research and development group; creative design, engineering and manufacturing team; strong sales, marketing and distribution network and quality customer services.
About China Display Technologies, Inc.
China Display Technologies, Inc. through its wholly-owned subsidiary Suny Electronics (Shenzhen) Company Limited (“SUNY”) in China, designs, manufactures and markets small- to mid-sized Light Emitting Diode (LED) and Cold Cathode Fluorescent Lamp (CCFL) backlights for various types of Liquid Crystal Displays (LCDs). Its products have applications in electronic consumer products, such as mobile phones, PDAs, GPS systems, portable DVD/VCD players, MP3s and MP4s, medical equipment and household appliances with displays. SUNY was organized in November 2004 and started operations in 2005. It has experienced rapid growth and became a publicly-traded company, listed on the OTC market, through a reverse merger in September 2007. The Company has 800 employees, with manufacturing facilities and management located in Shenzhen, China.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often 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 that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 ( http://www.sec.gov ). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Mr. Jason Wong
Executive Vice President
China Display Technologies, Inc.
Tel: +852-9257-8928
Email: jason@suny.hk
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgelite.com
