SHENZHEN, China, Aug. 15 /Xinhua-PRNewswire-FirstCall/ -- Diguang International Development Co., Ltd. (OTC Bulletin Board: DGNG) (“Diguang”), an emerging, China-based leader in CCFL and LED backlights and LED general lighting technology, today announced an over $1 million contract to supply 18,000 indoor LED lighting units to a commercial customer for a project in Nanchang, the provincial capital of Jiangxi. The Company’s subsidiary Dongguan Diguang Electronic Science and Technology Co., Ltd (“Dongguan S&T”) entered into the agreement for this project with a real estate concern, which declined to be named for competitive reasons.
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This new customer agreement, the largest of the Company’s LED lighting contracts thus far, reflects the Company’s successful performance under an earlier contract to supply LED general lighting products to the government of Xiangfan. Under the new agreement, with production lead time of sixty days, Dongguan S&T will deliver 18,000 LED lighting units for a commercial building covering 40,000 square meters. Products deployed will include down lights, light tubes, spotlights, grid lights and more. Compared to conventional energy-saving lights by daily working time of 14 hours, 881,110 kilowatt hours of total wattage can be directly saved annually. Besides, 1,279,034 kilowatt hours can also be indirectly saved for the air conditioners, since the heat created by LED lights is much lower than the conventional energy-saving lights.
The new customer, through its subsidiaries, engages in marketing development, property management, real estate development, logistics, advertisement and investment. The building that Dongguan S&T will supply with LED lighting has a height of 100 meters and a total area of 120,000 square meters. It is not only one of the biggest projects in Nanchang, capital of Jiangxi province, but also the province’s largest commercial building.
“Our new customer indicates that there is additional commercial business for our new general LED lighting segment based on our successful performance under this contract,” commented Song Yi, Diguang International’s President and CEO. “We are very excited to announce this non-government general LED project for Diguang. This high-profile project marks the first adoption of LED general lighting technology in the commercial lighting market in Nanchang, the largest city in Jiangxi province. We are pleased to contribute to the Chinese government’s energy-saving and cost-saving initiatives and extend the multiple long-term advantages of LED general lighting to our new customer and this prominent commercial venue.”
According to LED industry leader Philips Lumileds Lighting Company, a division of Philips, the best commercial white LED lighting systems are highly energy-efficient compared to conventional lighting, LEDs also last 50,000 hours or more, versus approximately 1,000 hours for an incandescent light bulb, reducing maintenance costs.
A recent statute issued by Chinese Prime Minister Wen Jiabao, named “The Energy-Saving Statute for the Public Organizations,” will be implemented throughout China beginning October 1, 2008. Energy-saving projects will be initiated by all public organizations in China, spanning organizations engaged in education, science and technology, cultural pursuits, sanitation and sports.
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 backlight 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: the outcome of the general LED lighting project in Jiangxi, 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
Tel: +1-310-477-9800 x202
Web: http://www.ccgir.com
