Changda Company Knows of No Reason for the Recent Weakness in the Price of Its Stock & Reaffirms Its Reporting & Its Positive...
July 13 2011 - 8:53AM
Business Wire
Changda International Holdings, Inc. (OTCBB: CIHD) the Weifang
based specialty chemicals manufacturer and fertilizers producer
today announced that the Company knows of no
reason for the recent weakness in the price of its
stock, and further would direct shareholders and other interested
parties to the Company's most recent 10-Q filing and its
second quarter results as well as its most recent year-end fully
audited 10-K filing. It stands by all its reports and further
states that at current level the Company’s market value is below
its cash level and the stock price at a multiple of less than 1.2
its existing net earnings per share. The Company will file its
third quarter results and knows of no development related to the
Company’s business prospects or operations that could justify the
present weakness in its stock price.
About Changda International Holdings, Inc.
Changda International Holdings, Inc., through its wholly owned
subsidiaries, Weifang Changda Chemical Industry Co., Ltd. and
Weifang Changda Fertilizer Co., Ltd., produces compound fertilizers
and snow melting agents in China. Changda is one of the leading
compound fertilizer producers in Shandong Province, China, and is
led by an experienced management team committed to diversifying the
Company's product offering and delivering tailored services to its
customers. For more information, please visit
http://www.changdaint.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements including but not limited to the effectiveness,
profitability and marketability of the company's or Changda
International's products; the period of time in which any
acquisition is expected to occur, the impact of any planned
acquisition on the company, the company's ability to protect its
proprietary information; general economic and business conditions;
the volatility of the company's operating results and financial
condition; the company's ability to attract or retain qualified
senior management personnel and research and development staff; and
other risks detailed in the company's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations, assumptions, estimates and projections about the
companies and the industry. The company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or to changes in its expectations, except
as may be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.