Inside Breaking News For Investors Released..
CHINA WORLD TRADE CORP IS ON THE RUN AGAIN.
Current Price : 2.31
CWTD***CWTD***CWTD***CWTD
Ready to Run
Is This One Ready to Explode Higher Move?
How Will it React To This News Being Released?
Good Luck and Successful Trading..
CWTD News is out, stock is going to rock, Company has already
facilitated the m0ney it need's to continue it's rapid growth
CURRENT PRICE 2.28
Projection 5 to 7 Days 4.50 - 5.00
Projection 8 to 12 Days 6.00 - 8.00
China World Trade Corporation Acquires Hotel Booking And Group Tour Travel
Agency
Monday August, 8th 8:42 am ET
Company's Strategic Acquisition Further Positions Itself as a Leading Business
Services Company in China
GUANGZHOU, China, Aug./Xinhua-PRNewswire/ -- China World Trade Corporation (OTC
Bulletin Board: CWTD - News; ''CWTC'') announced today that its subsidiary
Guangdong New Generation Commercial Management Co., Ltd (''New Generation''),
entered into an agreement to acquire Guangdong Hao Shi Guang Travel Agency
Limited (''Hao Shi Guang'') from Guangdong Rising Hotel Group Co., Ltd
(''Guangdong Rising Group''). Under the agreement, New Generation will obtain a
majority stake of up to 70% of Hao Shi Guang through a capital injection. The
cooperation will also include a joint development of an interactive hotel
booking system connecting Guangdong Rising Group hotel chains and integrating
them into New Generation's current travel booking enterprise system which will
further enhance its travel offerings to New Generation's customers.
''We are excited and confident that our cooperation with CWTC's travel
subsidiary, New Generation will lead to future success in the continued
development of our travel business in Southern China,'' said Mr. Bangfu He,
President of Guangdong Rising Group, ''The Guangdong Rising Group runs a wide
range of travel related services including hotel bookings, group travel
services and ground transportation arrangements. This strategic acquisition
will allow us to capture more of Southern China's travel market share by
offering a broader range of services to our customers.''
!!!!!!!!!!!!!!We cant wait to see where this one goes.!!!!!!!!!!!!!!!!!!!!!!!!!
Net loss was approximately $7.6 million for the year ended December 31, 2004,
as compared to the same corresponding period in year 2003, an increase of $4.8
million or 168.0% from $2.8 million. The increase in net loss was mainly due to
$1.2 million in additional impairment loss; and the remaining in shares of our
common stock issued to employees resulting from them exercising their stock
options and to various parties for their respective services rendered in areas
of marketing; information and technology, investor relations and researches;
and financing.
Total impairment loss and depreciation were approximately $186,000 for the year
ended September 30, 2003, as compared to an insignificant amount for the same
corresponding period in year 2002. The increase was mainly due to the increase
in the impairment losses of property, plant and equipment (57.8%) and the
remaining increase in depreciation (42.2%). The management believes that it is
necessary to record the current values of our intangible assets, goodwill, and
other fixed assets so as to reflect their respective abilities of deriving
revenues from. Under normal circumstances, we will review the impairment of our
assets at the year end or at the anniversary of such assets.
China World Trade Corporation (CWTC) has established its business in three
distinct areas: the club and business centers throughout major cities in China,
business travel-related services, and business value-added services. The Club
and Business Center Division is devoted to the building of the World Trade
brand throughout China via the opening and operating of business clubs in
China's major, positioning the CWTC to act as a platform to facilitate trade
between China and the world markets. The acquisition of CEO Clubs China Limited
("CEO Clubs") in May 2004 further complements CWTC's offerings by targeting
high-level corporate executives from premier companies. The Business Traveling
Services Division, New Generation, provides CWTC access to the rapidly growing
travel-related industry. New Generation is a pioneer and market leader in the
travel agency business through its strong network of ticketing sales operations
throughout Southern China. The Business Value-Added Services Division focuses
on value-added services of credit cards, merchant- related business services,
as well as consultancy services to CWTC members and clients. Guangdong World
Trade Link Information Services Limited ("WTC Link"), a subsidiary of CWTC,
manages the Company's co-branded credit card project and is an active provider
of CRM solutions and services in China.
