WEIFANG, China, April 17, 2012 /PRNewswire-Asia/ -- Since December 2003, Weifang Hengyuan Oil Pump and Nozzle Co., Ltd., a subsidiary company wholly owned by Xinde Science and Technology Co., Ltd.(OTCBB: WTFS), has been closely cooperating with the State Key Laboratory of Engines of Tianjin University and succeeded in developing Diesel Engine FIRCRI Common Rail Electrically-controlled Fuel Injection System, which is a national "863" key project, and has been granted a technical patent certificate, with exclusive intellectual property owned by our company. This product is comparable to the oil injection system of Robert Bosch and Denso and can entirely replace import products. This product has independent intellectual property, high performance-price ratio and adapts well to China's oil characteristics. It meets a stricter emission standard higher than the Euro III/IV emission standards, and can be widely used in various types of diesel engines for car, truck, engineering machinery and locomotive. As soon as the product is developed, it has been booked up by Weichai Power (stock code: HK2338,SZ000338, Jiangsu Jianghuai Engine Co., Ltd. (stock code: SZ000816) and Sichuan Emei Diesel Engine Co., Ltd. (stock code: SZ000757). It can be said that the market demands of domestic combustion engine enterprises is in very short supply. It is expected that the designed production capacity of the phase-I project is 200,000 sets and can realize sales revenue of USD300 million.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety important factors, including, but not limited to, the impact of competitive conditions and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, financing and other factors as discussed in the Company's reports filed with the Securities and Exchange Commission from time to time, In addition, the Company disclaims any obligation to update any forward-looking statement to reflect events or circumstances after the date hereof. No securities regulatory authority has either approved or disapproved the contents of this new release. This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements. The Company filings with the US Securities and Exchange Commission, including the quarterly report for the three months ended March 31, 2011 on Form 10-Q, can be viewed on EDGAR Online or www.sec.gov.
Contacts:
Dianjun Liu
President and CEO
ceo@chinaxinde.cn
Tel (Fax):86-536-8322068