BEIJING, Jan. 30 /Xinhua-PRNewswire-FirstCall/ -- Under the concern and direction of board chairman Chen Quanlong and through relevant staff's efforts, incorporation of Tai Na International Fruits (Beijing) Co. Ltd., a wholly-owned subsidiary of China Fruits Corp. (OTC Bulletin Board: CHFR), was approved on January 22, 2008. Tai Na International will mainly engage in the wholesale of fruit products and the creation of a future sales network.
From August 2007, Tai Na International held talks with partners and carried out fruit wholesale mainly in Beijing. Two direct supply shops opened for business in Beijing respectively at the end of November 2007 and in the middle ten days of January 2008. The opening of direct supply shops, which is operated in the form of self-operation contracting, is an important step for Tai Na International to develop the north China market. Chen Lifang, contractor and shop head of a direct supply shop, is confident of her shop's future development.
Tai Na International's CEO Chen Quanlong said, "It is estimated that Tai Na International will open 100 fruit chain stores throughout China in 2008. In order to provide people with healthy fruits and build a Chinese fruit brand, the company will send fruits from place of origin to households everywhere, like milk. People can also enjoy famous fruits from place of origin domestic and abroad easily by means of online and phone ordering, buying a fruit delivery card, or going to a direct supply shop."
With the help of Du Yingke of Tomorrow Group, Chen Quanlong and his party (three members) made an on-the-spot investigation on basic operations of Yumao fruit shops in Shenzhen during the period from 21st-25th of December 2007. Through negotiations, Tai Na International signed an intention agreement on purchase of 12 Yumao fruit shops, which would become Tai Na's first alliance based on asset reorganization. On January 3, 2008, it signed a contract on fruit supply and distribution in Beijing with Beijing Shengbaotai Fruit Co., Ltd., realizing Tai Na's first supply alliance.
Alliances are an important way and effective measure for Tai Na International to create the best fruit brand in China. In the future we will also set up the Asset Operation Dept. to make the strategic goal of creating the best fruit brand in China come true quickly by means of asset reorganization with fruit companies in China, setting up a chain store network, and entering into alliances with fruit shops, distributors, suppliers, processors, and planters.
Company Profile: Tai Na International Fruits (Bei Jing) Co. Ltd. ("Tai Na International"), which is located in Beijing, People's Republic of China, is a wholly-owned subsidiary of China Fruits Corp. Tai Na International will be devoted to the creation of the Tai Na brand and the development of the fruit market. The registered capital of Tai Na International is approximately $1,351,000, which will be invested by China Fruits Corp. After completion of the incorporation, China Fruits Corp. will relocate their headquarters to Beijing because it believes this move will have a positive effect on their future development and market development.
China Fruits Corp. currently has 36,129,689 issued and outstanding shares of common stock that trade on the Over-The-Counter Bulletin Board under the symbol "CHFR."
Forward-looking Statements
This report contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese, European and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.
The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.
For more information, please contact:
Ms. Zhan Hong
Tai Na International Fruits (Beijing) Co. Ltd.
Tel: +86-794-326-6679
Email: goldenorange2006@yahoo.com.cn
