SHENZHEN, China, Jan. 11 /Xinhua-PRNewswire/ -- The Intermost Corporation (OTC Bulletin Board: IMOT), a leading electronic online equity exchange service provider in China, announces good news from the Shenzhen International Hi-Tech Property Right Exchange Center (Shenzhen Exchange). In 2006, the annual revenue of the Shenzhen Exchange exceeded US$3,125,000, the net profit exceeded US$1,500,000 and the shareholders' interest exceeded US$4,562,500, with a return on equity of above 40%.
The Intermost Corporation owns a 15% shareholding in the Shenzhen Exchange and has developed close cooperation with it. Last year, the Chinae.com Technology (Shenzhen) Co., Ltd., a wholly-owned subsidiary of the Intermost Corporation, developed an Equity Registration and Depository System for the Shenzhen Exchange. The System is running smoothly and has greatly streamlined the exchange procedures on the Shenzhen Exchange. Moreover, another subsidiary of the Intermost Corporation, the Chinae.com Investment Consultant (Shenzhen) Co., Ltd. has signed several agreements with the Shenzhen Exchange. The two parties are collaborating in businesses such as investment consultancy, financing services and stock exchange listings.
The development mode of the "China Hi-Tech Fair -- technological equity exchanges -- the Growth Enterprise Market (GEM)" is gradually being recognized by the Chinese government. The Shenzhen Exchange plays an important role as a connector in this service chain. It accelerates the amalgamation of hi-tech equities and venture capital, and provides the China GEM with well-performing and listing-eligible companies. The successful operation of the Shenzhen Exchange fulfills the governmental plan of constructing a "never-ending China Hi-Tech Fair". The Guangdong provincial government and the Shenzhen municipal government attach great importance to its development and have promulgated a series of preferential policies.
The Intermost Corporation's acting CEO Mr. Xiangxiong Deng also serves as Board Vice Chairman on the Shenzhen Exchange. Being an important shareholder of the Shenzhen Exchange, the Intermost Corporation not only shares its great achievements, but influences its future development. It is known that the Intermost Corporation still reserves the possibility of increasing its shareholding position in the Shenzhen Exchange.
About the Intermost Corporation
Founded in the USA in September 1998, the Intermost Corporation was the first Chinese Internet company listed on the US OTC Bulletin Board (stock symbol: IMOT) in December 1998. The Intermost Corporation has focused its services on the booming Equity Exchange Market in China, including equity-related solution development, equity quotes and information provision, electronic online equity exchange services, consulting services for small and medium enterprises financing through overseas listings, and equity portal website ( http://www.chinae.com ), and otherwise.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.
For more information, please contact:
Mr. Chris Liu / Ms. Carmen Liu
Intermost Corporation
Tel: +86-755-8221-0238
Email: ir@intermost.com
