Principal Executive Offices
Phyllis Ng, Company Secretary
10/F Wo Kee Hong Building,
585-609 Castle Peak Road,
Kwai Chung, N.T.
News ~> http://finance.yahoo.com/q?s=cply.ob
Website ~> http://www.chinapremiumlifestyle.com/corporate/profile.html
China Premium Lifestyle (CPLY) is developing a luxury goods distribution platform for China, utilizing its extensive network of ultra rich and high net worth customers developed over many years from the distribution of high end sports cars.
CHINA'S WEALTHY ELITE
~>China is now ranked among the top six economies in the world in GDP
~>China's car market is now ranked #3 in terms of global production
~>25 years ago, there was not a single reported millionaire in China
~>As of Dec. 2005, there were 350,000 people in China with assets exceeding $1 million
~>As of Dec. 2005, there were 60,000 people in China with assets over $10 million
~>Backlog orders for premium cars at $250-$500,000 is rapidly growing
China Premium Lifestyle Enterprise, Inc. (“China Premium”) (OTC Bulletin Board “CPLY”) is the major shareholder of Technorient Group, Hong Kong based holding company of Auto Italia Ltd. (AIL) and Italian Motors (Sales & Service) Ltd. (IMSS).
AIL and IMSS import, market and distribute Maserati and Ferrari cars on an exclusive basis and provide servicing and spare parts in the Hong Kong and Macau Special Administrative Regions of the People’s Republic of China.
IMSS is also an equity holder in Ferrari Maserati Cars International Trading (Shanghai) Co. Ltd., an EJV company created with Ferrari SpA and the Beijing-based Poly Investment Group in 2004 to handle sales, marketing and distribution of both brands in China and is building a key network of dealerships for Ferrari and Maserati in China.
What is TECHNORIENT selling?
Auto Italia - http://www.maseratidealers.com/autoitalialtd/
Italian Motors - http://www.dealer.ferrari.com/italianmotors/
Alfa Romeo - http://www.alfaromeo.com.hk/
Company Reports Quarterly Year-Over-Year Profits Increased 84% on Year-Over- Year Sales Growth of 82%
HONG KONG, Nov. 15 /PRNewswire-FirstCall/ -- China Premium Lifestyle Enterprise, Inc. (OTC Bulletin Board: CPLY) today reported net sales for the quarter ended September 30, 2007 of approximately $26.7 million, a significant 82% increase over net sales for the similar period one year ago of approximately $14.6 million. The company reported a net profit for the quarter of approximately $310,472, which represented an increase of almost 84% from the net profit of $168,842 in the previous year's quarter.
For the nine month period ended September 30, 2007, the company's reported net sales of approximately $68.8 million represented a 74% increase over the comparable nine month period one year ago when the company reported approximately $39.5 million. For the nine month period ended September 30, 2007, the company reported net income of $439,071 as compared to net income of $420,742 for the nine month period in 2006.
The company attributed the growth in sales to its new and used vehicle trading segment, with significant increases in deliveries of Ferrari 8- cylinder models, the F430 and F430 Spider, together with the sellout performance of the new Ferrari 12-cylinder model, the 599 GTB Fiorano. Vehicle sales were approximately $64.2 million for the nine month period of 2007 compared to approximately $35.8 million in the similar period one year ago. Parts sales and service income increased in the nine month period to approximately $4.6 million as compared to approximately $3.7 million for the preceding period. The increase in parts sales and service income was attributed to significant growth in the number of both Ferrari and Maserati customers during the last few years, all of whom now require regular maintenance.
Richard Lee, Chairman and CEO, stated: 'I am very pleased to report that we continue to show tremendous growth in our sales of the new and current model range of Ferraris and Maseratis as well as accelerating growth in parts sales and service income. This strong foundation is the ideal platform to enable us to incorporate other high end brands into our portfolio as we continue to build China Premium Lifestyle Enterprise, Inc.'
Joseph Wong, CFO, added: 'Our operations generated cash resources of approximately $9.5 million for the nine months ended September 30, 2007, compared to generating cash resources of approximately $1.9 million for the similar period one year ago. This was a result of our increased sales. Our account receivables decreased by approximately $7.8 million in the nine month period ended September 30, 2007, primarily due to the collection of a receivable pursuant to certain sales recognized in the last three quarters.'
In addition to organic growth
through its dealerships,
China Premium Lifestyle
will introduce Ferreti Yachts to its client base in China beginning in 2007
Richard Lee - BSB, MBA
Chairman and CEO
is responsible for formulating the Group’s overall strategic planning and for business development. Mr. Lee has 27 years experience in marketing consumer products and has a bachelor’s degree and a master’s degree in business administration from the University of Minnesota. He was also elected and had served for two consecutive terms as the Chairman of the Radio Association of Hong Kong, the trade association of audiovisual businesses in Hong Kong.
In September 2006 in Beijing, Mr Lee was bestowed the title of ‘Commander of the Order of the Star of Italian Solidarity’ by Romano Prodi, the Prime Minister of Italy, in recognition of his contribution in advancing Italian business and culture in Hong Kong and China.
President and COO
has over 40 years experience in the automotive trade in Hong Kong and was originally a semi-professional racing driver and a senior engineer with Volkswagen and Porsche in Germany, the Middle East and Hong Kong, Mr. Adamczyk is also an active Board member of the Motor Traders Association of Hong Kong.
Joseph Wong - FCCA, CPA
Chief Financial Officer
has over 31 years experience in financial management including auditing and accounting of Hong Kong listed companies. Mr. Wong is a fellow member of the Association of Chartered Certified Accountants and associate member of the Hong Kong Institute of Certified Public Accountants.
Waison Hui - BBA, MBIM
Executive Vice President and Head of Business Development
has over 29 years experience in retail management in mainland China, including representation of high-end European apparel brands and the development and management of prestigious retail shopping malls.
John Newman - MIMI
Executive Vice President
has 19 years experience with high-end sports and luxury car manufacturers and importers, and was a director of a successful motor racing team in Europe. Mr. Newman holds a Diploma in Business and Finance and is a member of the Institute of the Motor Industry in the UK. He has extensive experience in sales, marketing, distribution, dealer development, media communications and customer relationship management.
Key Management©2006-2007 Copyright China Premium Lifestyle Enterprise, Inc.
Issued and outstanding: 33,600,000
Float ~ 8 mil
Continental Stock Transfer & Trust Company, New York, NY 10004
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