JINJIANG, China, Nov. 26, 2019 /PRNewswire/ -- China Ceramics Co.,
Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the
"Company"), a leading Chinese manufacturer of ceramic tiles used
for exterior siding and for interior flooring and design in
residential and commercial buildings, today announced that the
Company has entered into a non-binding letter of intent with a
Malaysian contractor for the Company's ceramic tiles including its
new 'cooling' ceramic tiles that it introduced in August of 2019.
The Malaysian contractor intends to use the Company's ceramic tile
products for use in high rise apartment buildings in the third
quarter of 2020.
"This is an important step to increasing our exports to
Southeast Asia due to the rapid
rise in construction in the region and its climate conditions which
make it an ideal fit for many of our ceramic tile products.
Provided that the market demand and related conditions are in
place, we plan upon substantially increasing our exports to this
region," said Ms. Meishuang Huang, Chief Executive Officer of China
Ceramics. "China Ceramics continues to deploy innovation and
competitive pricing to secure new business. We believe that our new
products will help us to enter new markets and ultimately diversify
our revenue stream while contributing to our future growth."
The Company's anticipated entry
into Malaysia is the first step of
an expansion effort into Southeast
Asia that is intended to capitalize upon the increased level
of the region's new building construction which is due in part to
China's Belt and Road Initiative.
The Company foresees this as an opportunity to utilize its
currently unused production capacity as it enters a dynamic
regional market with an estimated population of 660 million people.
The Company's Chief Executive Officer, Ms. Huang Meishuang, will oversee the execution of
this planned expansion.
The Company plans to introduce specialized products into the
Southeast Asia market that are
suitable for the region due its generally warm climate, including
the Company's recently announced new 'cooling' ceramic tiles. This
building product is a new type of exterior ceramic tile designed to
cool indoor temperatures of buildings. The new cooling ceramic tile
series is designed as a stone pattern with a look of natural décor
and luxury with richer patterns than organic stone materials. The
Company is in the final stages of testing the new product and
receiving its certification.
About China Ceramics Co., Ltd.
China Ceramics Co., Ltd. is a leading manufacturer of ceramic
tiles in China. The Company's
ceramic tiles are used for exterior siding, interior flooring, and
design in residential and commercial buildings. China Ceramics'
products, sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the
"TOERTO" and "WULIQIAO" brands, and the "Pottery Capital of Tang
Dynasty" brands, are available in over 2,000 style, color and size
combinations and are distributed through a network of exclusive
distributors as well as directly to large property developers. For
more information, please visit http://www.cceramics.com.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to our
beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors,
which may be beyond our control, and which may cause the actual
results, performance, capital, ownership or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. Forward-looking statements in this press release
include, without limitation, the Company's ability to enter and
capitalize on market opportunities in the Southeast Asian markets,
its ability to complete and bring its new line of building
materials to the market in time to meet current and future market
demand, the continued stable macroeconomic environment in the PRC,
the PRC real estate and construction sectors continuing to exhibit
sound long-term fundamentals, our ability to bring additional
capacity online going forward as our business improves, our
customers continuing to adjust to our product price increases, our
ability to sustain our average selling price increases and to
continue to build volume in the quarters ahead, and whether our
enhanced marketing efforts will help to produce wider customer
acceptance of the new price points. All statements other than
statements of historical fact are statements that could be
forward-looking statements. You can identify these forward-looking
statements through our use of words such as "may," "will,"
"anticipate," "assume," "should," "indicate," "would," "believe,"
"contemplate," "expect," "estimate," "continue," "plan," "point
to," "project," "could," "intend," "target" and other similar words
and expressions of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 20-F for the
year ended December 31, 2018 and
otherwise in our SEC reports and filings. Such reports are
available upon request from the Company, or from the Securities and
Exchange Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not undertake
to update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
SOURCE China Ceramics Co., Ltd.