SHENZHEN, China, March 12, 2013 /PRNewswire/ -- Uni Core Holdings Corporation (OTC Bulletin Board: "UCHC"), a Hong Kong based holding company, reports the update of their farm business, Shaanxi Prosperous Agriculture Company Limited ("Prosperous Agriculture"), and the paper business, APT Paper Group ("APT"), both UCHC's subsidiaries.
Prosperous Agriculture
After Mr. Thomas Lee, COO of UCHC, went to Tokyo and worked out all the terms and conditions of the JV with the Korean mining owner, JEWON, the first lot of "Goldlite" (Phyllite), a total of 400 tons with the market sales value of US$1.52 million, was shipped to Luxi Chemical to manufacture the new fertilizer for Prosperous Agriculture.
Mr. Thomas Lee and the representative of JEWON shall visit Prosperous Agriculture in Xian from March 10 to 12 to work out the increasing supply volume of "Goldlite" and the strategy of Prosperous Agriculture to expedite sales and to eventually extend its distribution network to cover the southern part of China. The estimated demand is at least 10,000 tons to 15,000 tons in 2013.
The summary of the 3 years forecast of Prosperous Agriculture, 51% owned by UCHC, is follows:
2013 | 2014 | 2015 | |
Sales | 9,968,000 | 20,886,000 | 44,160,000 |
Growth Rate | 113% | 114% | |
Net Profit | 634,484 | 1,309,968 | 2,835,720 |
% to Sales | 6% | 6% | 6% |
APT
The Shenzhen Factory of APT is still in the process of being closed down. Suzhou Factory is not optimistic and may have to be closed down eventually since it is not the objective of the Board of Directors of UCHC to have a business with continuous loss.
The performance of Qingdao Factory is exceeding expectations under the supervision of a new manager-in-charge, hired from October 2012.
However, the UCHC management will not hesitate to close down all the factories if they fail to deliver positive results, as the Board believes that UCHC's performance will not be adversely affected with all the preparation already done and reflected in the recent 10Q report filing to SEC.
The Future of UCHC
Although APT's performance is still uncertain, UCHC management believes that the future profit of UCHC will come from the new JV between Prosperous Agriculture and JEWON. UCHC management further believes that the other applications of phyllite from Korea, such as "water purification" and "decontamination of nuclear pollution", will contribute to an even bigger and more profitable business.
Currently, China is facing issues of water and soil pollution every day. Japan's Government is planning to officially order phyllite to fight against water and soil pollutions. Upon receipt of official work orders from the Japanese government, together with the results of the tests already done in Japan on the functions and effectiveness of phyllite, UCHC management believes that phyllite shall be introduced into the China market to help tackle similar population issues soon.
The Board of Directors of UCHC is optimistic about the future of UCHC and will from time to time release related information to the public.
About Uni Core Holdings Corporation (UCHC.OB)
Uni Core through its subsidiaries develops, manufactures and distributes environmentally friendly paper and agricultural products based upon its proprietary technology and supply chains. The Company was founded in 1998 and is headquartered in Hong Kong.
APT Paper Group, a wholly owned subsidiary, headquartered in Shenzhen, Guangdong, China, was founded in November 1993. UCHC acquired 100% of APT in June 2010. Based upon proprietary technology, production, marketing and global supply chains, APT is one of the leaders of the modern environmentally friendly packing and honeycomb paper products industry in China. APT's products are produced from recycled materials and are recyclable. APT's products include honeycomb paper pallets, honeycomb paper panels, honeycomb paper cartons, honeycomb paper coffins, honeycomb paper cushions, paper slip-sheets, paper corner protectors and corrugated paper products. APT holds patents throughout the world on many of its products. Some of APT's customers include Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, Hisense, among others.
Prosperous Agriculture, 51% of which is owned by UCHC, is headquartered in Xi'an, Shaanxi Province, China. Prosperous Agriculture manufactures and distributes agricultural brands and also establishes a national agricultural resources chain direct sales platform through the opening and acquiring of agricultural resources direct sales outlets and dealers, and by working with well-known manufacturers of agricultural products. Prosperous Agriculture integrated more than 2,000 agricultural resources.
Safe Harbor Statement:
Except for statements of historical fact, this document contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of the Company's products. Such forward-looking statements are based on present circumstances and on the Company's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include the Company's ability to raise capital to engage in operations, general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors that the Company has little or no control. Such forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by the Company with the Securities and Exchange Commission.
For more information, please contact:
Mr. Zhou Caiyi
Tel: +852-2827-6898
Fax: +852-2827-6989
Email: ir@unicoreholdings.com
Web: http://www.unicoreholdings.com
