HAINAN, China, April 10 /Xinhua-PRNewswire/ -- Shiner International, Inc. (Nasdaq: BEST), an emerging global leader in the anti-counterfeiting and advanced packaging industry, today announced it has signed contracts to supply 565 tons of anti-counterfeiting film, or $4 million in revenue, to six new China-based customers.
Shiner reported total anti-counterfeit film revenue of $3.5 million for the full year ended Dec. 31, 2007, an increase of 86 percent when compared to the year-ago period. The Company's anti-counterfeit technology ensures the authenticity and safety of consumer goods such as liquor, tobacco, food, CD/DVDs and other branded items.
These contracts wins support Shiner's ongoing effort to become the premier supplier of advanced anti-counterfeit packaging technology to worldwide consumer brands. Under the terms of the contracts, Shiner will supply Hainan-based Jie Qi, a leading processor and reseller of multiple agricultural products, with 165 tons of anti-counterfeiting film with an aggregate value of $1.2 million. The remaining four contracts, with Hainan-based Bai Xiang; Hainan-based Xiong Lin; Shenzhen-based Shun Jia; Guangzhou-based Hong Yi and Shanghai-based Tai Sheng, represent an additional 400 tons of anti-counterfeit film, at an approximate aggregate value of $2.8 million.
Mr. Jian Fu, CEO of Shiner International, commented: "The international counterfeit trade results in countless economic losses to manufacturers each year. Shiner's anti-counterfeit technology offers a next-generation solution which serves to protect brand identity and consumer health in a manner which few other global manufacturers are capable. As we continue to build customer awareness surrounding the benefits of our anti-counterfeit film both here in China and internationally, we believe this higher-margin segment of our business has the potential to drive increased revenue growth into the foreseeable future."
About Shiner International, Inc.
Shiner International ( http://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% 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.
