SHENZHEN, China, July 30 /Xinhua-PRNewswire-FirstCall/ -- China Display Technologies, Inc. (OTC Bulletin Board: CDYT), a leading China-based optoelectronics manufacturer specializing in small-, medium- and large-sized LED and CCFL backlight units for LCD displays, today announced that it has formed a technical team to work in conjunction with the Guangdong Flat Panel Industry Association, a semi-governmental institution actively involved in drafting the standards for the High Power LED lighting industry in China.
China Display Technologies will be one of the core technical advisory committee members for the association and will provide practical and procedural consultative comments to develop the standards for the High Power LED lighting industry in China. The association aims to standardize the various technologies and know-how for high power LED packaging, production and application. More than 80 enterprises in Guangdong comprise the association and represent various areas of expertise. China Display was selected for its experience and technical know-how in LED applications, including general illumination and lighting products. In addition to the company being selected as a committee member, China Display’s CEO, Mr. Lawrence Chan, was appointed Vice Chairman of the association following the first general meeting.
“We are pleased to be selected as part of the Association’s technical advisory committee,” said Mr. Lawrence Chan, CEO of China Display Technologies. “The establishment of standards means our competitors will need to follow the standards that are distributed by the government; and, we believe our experience gained through this process will greatly increase our competitive strengths.”
Chan added: “Our technical team will have access to the most advanced technologies during this process. With our relationship with the Association, we are ready to expand into the High Power LED Lighting Industry. We believe these two main revenue streams will develop in parallel and will open up a new era for the company.”
Leading market researcher, Strategies Unlimited, predicts the LED industry is entering a higher growth phase and that the total market size in 2012 will exceed $11 billion.
About the High Power LED Market
For decades, LEDs have been used as a light source in place of CCFLs or incandescent bulbs. In the past they have been restricted to niche markets such as flashlights, novelty items, outdoor accent lighting and automobile lights. Advances in LED technology have led to increased light output with a high level of efficiency, causing LEDs to become bright enough to be used for illumination. High power LEDs are used in general lighting applications but are also suitable for backlighting applications. The high-power LED market is gaining ground in the general lighting market and steadily driving mainland China’s LED production. China’s LED lighting products industry is growing rapidly, and the country is now the largest producer, accounting for an estimated 70 percent of global output. According to market researcher Global Sources, China’s LED lighting exports in 2007 were estimated at US$1 billion; and, based on current shipment values, revenue is expected to reach US$2 billion within the next three years. High power LEDs used for general illumination offer high brightness and energy-efficient benefits that are driving their adoption by lighting and electronics manufacturers worldwide.
About China Display Technologies, Inc.
China Display Technologies, Inc., through its wholly owned subsidiary, Suny Electronics (Shenzhen) Company Ltd. in China, designs, manufactures and markets small-, medium- and large-sized Light Emitting Diode (LED) and Cold Cathode Fluorescent Lamp (CCFL) backlights for various types of Liquid Crystal Displays (LCDs). Providing solutions that serve the multibillion-dollar global LED industry, the Company’s 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. In addition to producing LED packaging technologies and LED solutions for handheld devices, computers and industrial applications, the Company is ready to capitalize on LED markets for general illumination, including indoor and outdoor lighting, street and architectural lighting. China Display has a global customer base of electronics manufacturers with a distribution network covering Hong Kong and 18 provinces in mainland China, and currently exports to 17 countries and regions including the United States, Europe and Japan. With over 800 employees, the Company operates manufacturing facilities and headquarters in Shenzhen, China. For more information, visit http://www.chinadisplaytech.com .
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:
At the Company:
Mr. Jason Wong
Executive Vice President
China Display Technologies, Inc.
Tel: +1-852-9257-8928
Email: jason@chinadisplaytech.com
Web: http://www.chinadisplaytech.com
Investor Relations:
RedChip Companies Inc.
Jon Cunningham
Tel: +1-800-REDCHIP (733-2447) ext. 107
Email: info@redchip.com
Web: http://www.redchip.com
