HAINAN, CHINA, May 19 /PRNewswire-FirstCall/ -- Shiner International, Inc. (Nasdaq: BEST), an emerging global leader in the anti-counterfeiting and advanced packaging industry, today announced it has entered into a number of contracts with China-based companies to supply more than 2,100 tons of its leading anti-counterfeiting, BOPP tobacco film and coated film products. In addition, Shiner entered into four domestic contracts worth approximately $19 million for its color printing segment. Production on the contracts will begin immediately.
The new anti-counterfeiting contracts highlight the Company's continued leadership in the marketplace and includes an order from Sony of Shanghai, an endorsement of Shiner's groundbreaking technology which ensures the authenticity and safety of consumer goods such as liquor, tobacco, food, CD/DVDs and other branded items. Shiner reported the anti-counterfeiting contracts totaled $1.55 million, compared with anti-counterfeit film revenue of $3.5 million for the full year ended Dec. 31, 2007.
Shiner International CEO Mr. Jian Fu commented: "These anti-counterfeiting contracts showcase how our advanced packaging technology addresses our customers' desire to preserve brand equity, while ensuring the authenticity and quality of their products. By partnering with large multi-national consumer brands such as Sony, we have gained traction, and believe we are seeing initial signs of major growth in this segment."
The Company also reported the color printing contracts, which represent nearly 75 percent of the overall contracts total, and the additional coated film and BOPP tobacco film contracts, are a sign of its growing market dominance and further validation of its strategic one-stop film and printing approach. Shiner noted the BOPP tobacco contracts represent more than 15 percent of the total contract values, while the coated film contracts represent 3.5 percent.
Mr. Jian Fu concluded: "Our continued ability to win new contracts with blue-chip customers both in the PRC and in international markets is a validation of our ability to compete on a global scale. Going forward, we will continue to seek out new contacts, both domestically and internationally, that will enable us to leverage our industry-leading expertise in flexible packing products."
About Shiner International, Inc.
Shiner International (www.shinerinc.com) is a U.S. corporation that has its primary operations in China. Headquartered in the city of Haikou -- China's "Hawaii" -- Shiner's products include coated packaging film, shrink-wrap film, common packaging film, anti-counterfeit laser holographic film and color-printed packaging materials. Approximately 60 percent of Shiner's current customers are located in China, with the remainder spanning Southeast Asia, Europe, the Middle East and North America. Shiner holds 13 patents on products and production equipment, and has additional patent applications pending. The Company's coated films meet the approval of U.S. FDA requirements, as well as those required for food packaging sold in the EU. Shiner's product manufacturing process is certified under ISO 9001:2000.
Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Shiner International, Inc.'s current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Shiner's filings with the Securities and Exchange Commission.
Company Contact: Investor Relations & Media Contact:
Shiner International, Inc. Lambert, Edwards & Associates
Ms. Maggie DanDan Xing Noel Ryan, Pat Kane
Phone: 011-86-13876687688 Phone: 616-233-0500
Email: info@shinerinc.com E-mail: nryan@lambert-edwards.com
