WEIFANG, China, August 16, 2011 /PRNewswire-Asia/ -- Xinde Technology Company (OTCBB: WTFS), a widely respected China based designer and manufacturer of internal combustion engines and parts, primarily for the $100 billion diesel engine and parts market in China, today reported that a series of internally developed technical advances in the "R series" diesel engines manufactured by its Jinma Diesel Engine subsidiary have boosted sales of these products 30% year over year through the first half of 2011 and permitted the average sales price of the products to grow in the same period by more than 10%.
Mr. Dianjun Liu, President and Chief Executive Officer of Xinde stated, "Technology is at the heart of our success, and the 'R series' engines are a prime example."
More specifically, Mr. Liu explained that as a consequence of focused research and development activity, it has been able to expand the range of the "R series" from engines that originally were solely utilized for tractors and agricultural equipment to a range of other products, including engineering, road building and road milling machines.
Additionally, the "R series" incorporates electronically-controlled fuel technology for increased energy savings, and new technology for secondary treatment and utilization of off-gas, which increases kinetic energy and reduces emissions. Further, the dynamic performance of the products are 12% higher than the national average.
"Advances developed by our investment in research and development and incorporated in this product line," said Mr. Liu, "have expanded our markets and built our market shares, providing our overall enterprise with considerable economic benefits."
About Xinde Technology Company
Based in China's Shandong Province in the city of Weifang, Xinde Technology Company, with fiscal 2010 revenues of $123 million, competes in three primary product segments, namely (1) fuel injection system products, (2) diesel engine products and (3) generator products. The Company has a broad range of products including non-vehicle diesel engines, diesel generators, injection pumps, injectors and three-coupling components, agricultural machinery and construction machinery which greatly reduces its comprehensive costs which, in turn, increases its competitiveness. The Company's focus is on the domestic market in China, where its customers include several of China's largest companies in the country's most rapidly growing industries. As a consequence, the Company's production volume has been growing approximately 30% annually.
"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.
