HUIZHOU, China, July 23 /PRNewswire-Asia-FirstCall/ -- NIVS IntelliMedia Technology Group, Inc., (NYSE Amex: NIV) (“NIVS” or “the Company”), an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products, today announces key recognition by the Guangdong government.
NIVS IntelliMedia Technology Group, Inc. has won the title of “Key Export Brand to Be Fostered and Developed” by the Department of Foreign Trade and Economic Cooperation of Guangdong Province. The title was introduced to encourage enterprises in Guangdong to optimize their export mix, expand market and enhance their overall competitiveness in the international marketplace.
Mr. Tianfu Li, Chairman and CEO of NIVS, stated, “This achievement is a testament that the government recognizes our company as a key player in the development of an export-oriented economy in Guangdong. We will continue our commitment to produce high quality-high value products for consumers in China and worldwide.”
Another key recognition is the selection of NIV for an official visit by the Huizhou Municipal Government, as part of its implementation of Outline of the Program for Pearl River Delta Region Development. Accompanied by Mr. Tianfu Li, Mr. Yebin Huang, Party Secretary of Huizhou city government, Mr. Ruqiu Li, Mayor of Huizhou city and other senior members of the Huizhou Government toured the Company’s facility and operations and commended the Company’s diligent efforts, efficient operations, and solid financial performance. The officials noted NIVS’ important contribution to the economic progress of Guangdong and Pearl River delta region.
“We are very pleased to have the opportunity to showcase our products, facilities and recent development to senior members of the Huizhou Municipal Government,” said Mr. Tianfu Li. “NIVS is the only manufacturing enterprise selected by the government for this tour, demonstrating the government’s confidence in NIVS’ continued success despite the global economic slowdown.”
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received “Most Popular Brand” distinction in China’s acoustic industry for three consecutive years, among numerous other awards. Ranked 43rd on Forbes’ Top 100 Chinese Research and Development Companies, NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company’s intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting (“DVB”) set-top boxes, peripherals and more.
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, including, but not limited to the Company’s reliance on its major customers for a large portion of its net sales; the Company’s ability to develop and market new products; the Company’s ability to continue to borrow and raise additional capital to fund its operations; the Company’s ability to collect aging trade receivables and the effect of a growing doubtful account allowance; the Company’s ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company’s products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company’s products; protection of the Company’s intellectual property rights; changes in the laws of the PRC that affect the Company’s operations; development of a public trading market for the Company’s securities; and the cost of complying with current and future governmental regulations and the impact of any changes in the regulations on the Company’s operations. 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 the discussed above and 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.
