SHENZHEN, China, Nov. 4 /Xinhua-PRNewswire-FirstCall/ -- Diguang International Development Co., Ltd. (OTC Bulletin Board: DGNG) (the "Company" or "Diguang") exhibited a variety of its new LED general lighting products at the 2008 Hong Kong International Lighting Fair, held at Hong Kong Convention & Exhibition Center from Oct. 27th to Oct. 30th.
(Logo: http://www.prnasia.com/xprn/sa/200708301921.JPG )
Numerous conference participants showed great interest in the Company's newly developed products, especially for series of grid lights, down lights, desk lights and high-power street lights.
"It was very rewarding to hear so many experts and buyers speak highly of our products during the Hong Kong Lighting Fair," commented Diguang's president, Song Yi. "This show also gave us a deeper appreciation for the great potential of the entire LED lighting market. Based on our longstanding expertise in the specialty of backlights, we plan on vigorously developing our LED lighting business, as well as our newly launched value-priced
mini-notebook product portfolio."
According to market estimates by industry analyst firm Databeans, the total LED market reached $2.8 billion in 2006, with general lighting applications constituting less than 10% of the total. The market for LEDs for general lighting is expected to grow at a compound annual growth rate of 35%, reaching nearly $1.4 billion by 2012. The total high-brightness LED market, including general illumination, automotive headlights and backlights for monitors and TV screens, is expected to reach $8.3 billion in 2010, well over twice the level of 2005, according to industry analyst Strategies Unlimited.
About the 2008 Hong Kong International Lighting Fair
The 2008 Hong Kong International Lighting Fair, which celebrated its 10th anniversary this year, was 17 per cent larger than last year's edition. It featured more than 1,570 exhibitors from 33 countries, including first-time exhibitors from Romania, the Slovak Republic and Turkey. Popular theme zones included the Galaxy of Stars, where premium lighting products were displayed in an elegant setting, Crystal Indulgence, resplendent with crystal lighting and chandeliers, and Green Lighting, with a focus on state-of-the-art,
energy-efficient and environmentally responsible lighting.
About Diguang International Development Co., Ltd.
Diguang, through its subsidiaries, specializes in the research, development, production, sale and distribution of backlights and backlight technologies. A backlight is the typical light source of a liquid crystal display (LCD). The Company is focused on providing LED and CCFL backlights for international producers of televisions, monitors, cellular phones, digital cameras, DVDs and other home appliances. Diguang currently develops an average of approximately 50 new products per month. The Company also develops energy-saving technologies and solutions for rapidly growing LED general lighting markets. Diguang is a Nevada corporation with its manufacturing subsidiary located in Shenzhen, PRC, and its sales and marketing subsidiary located in the British Virgin Islands.
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Diguang's management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results of the Company's LED general lighting and mini-notebook growth initiatives, results of Company participation in trade shows, general business conditions in the Company's industry, business conditions in China, weather and natural disasters, changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which Diguang is engaged; fluctuations in customer demand; management of rapid growth; intensity of competition from other providers of backlights and general lighting products; timing approval and market acceptance of new product introductions; general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks, including but not limited to risks outlined in the Company's periodic filings with the U.S. Securities and Exchange Commission. Diguang does not assume any obligation to update the information contained in this press release.
For more information, please contact:
Viola Tse, Investor Relations
Diguang International Development Co., Ltd.
Tel: +1-626-593-5486
Investor Relations Contact:
Sean Collins, Senior Partner
CCG Investor Relations
Tel: +1-310-477-9800 x202
Web: http://www.ccgir.com
