TORONTO, ONTARIO — (Marketwired) — 04/29/13 — Symax Lift (Holdings) Co. Ltd. (TSX VENTURE: SYL) (“Symax” or the “Company”) announces its financial results for the three-month period and fiscal year ending December 31, 2012.
Highlights
“With our Dingati and new Green elevator products, Symax is continuing to grow its market position in government sponsored housing developments and the domestic Tier 3 and 4 city markets. In addition, the development of Symax stairlift products will enable the Company to expand its product lines,” stated Ms. Sabrina Zhang, CEO of Symax. “We look forward to recognizing higher revenues and tightening our costs to deliver improved bottom line results as we move forward.”
With the launch of the Green product line, the company experienced an increase in exports in 2012, 13% of total sales compared with 8% in 2011. This higher level of exports contributed to higher margins during 2012.
Expansion Initiatives
Symax established a wholly-owned subsidiary – Symax Stairlift Co., Ltd. to develop, manufacture and distribute residential and commercial accessibility equipment for people with mobility challenges. Symax–s stairlift products are expected to be launched into the American market and Chinese market before year end 2013.
About Symax Lift Holdings
Symax is in the business of the development, manufacturing, and sale of elevators, as well as the provision of after-sales services in China and worldwide. Symax–s products and services are classified into two separate offerings; a main line of standardized products which include passenger elevators, goods/freight elevators, villa elevators, panorama elevators, hospital elevators, residential and commercial escalators and moving walkways; and customized elevator products.
This news release contains certain statements that may be deemed “forward looking statements”. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company–s management on the date the statements are made. The Company undertakes no obligation to update these forward looking statements, except as required by law, in the event that management–s beliefs, estimates or opinions, or other factors, should change.
Contacts:
Skyone International Securities Corporation
Michael Zheng
Corporate Information
416.268.6178
Symax Lift (Holdings) Co. Ltd.
Mary Ma
CFO
604.277.6678