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Last reported 10q is
32 million assets ....
2.7m liabilities...
It never amazes me to see pink sheet stock like this with a pps of .02
maybe one day we can get another updated 10Q.
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Corporate History:
Shiming was originally formed in 1999 as Shaanxi Shiming Science & Technology Joint Stock Company Ltd., under the laws of the PRC. In November 2006, the company combined with Argenta Systems, Inc., a publicly traded company incorporated in Nevada and quoted on the OTC Bulletin Board.
Business Description:
Shiming is a consumer electronics company, with a particular focus on the development and manufacture of competitively-priced liquid crystal display (LCD) products, including high-definition TVs (HDTV) and computer monitors. The manufacturing plant is located in the Changxin High and New Technology Industrial Garden in Shenzhen, China. For several years the company has been involved in the research and development of consumer electronics products and technologies such as LCD, plasma displays, and household electronics.
CURRENT PRODUCT OFFERINGS:
Computer Monitors and HDTVs:
Shiming currently offers a variety of LCD television sets ranging in sizes from 17 inches to 40 inches. The company also manufactures and sells computer monitors that come in 17 inch and 19 inch sizes. Miniature television sets are also offered with screen sizes from 7 to 8 inches. The plasma-based HDTVs range in size from 42 inches to 63 inches. All LCD products include displays based on sixth-generation TFT-LCD technology, which is the state of the art in LCD displays. In recent years, major advances in resolution ratio and light intensity have been made, enhancing the overall performance of LCD displays relative to other technologies. Components are sourced from a variety of foreign and domestic suppliers located in Taiwan, Shenzhen, Shanghai and Beijing, including the display component, processing chassis and other parts.
LCD Displays for Vehicles:
The company works with a number of vehicle manufacturers to produce integrated LCD displays. For smaller passenger vehicles, displays range from 7 to 8 inches. These displays are designed to receive broadcast TV programming and real-time traffic information via satellite. For larger vehicles including buses and trains, the company manufactures 15 inch and 17 inch displays. The larger displays are designed to receive advertisements and entertainment programming. Shiming sells its LCD displays to vehicle manufacturers through LCD distributors.
New Shiming Plant Complex
Recent News:
Wednesday December 3, 2:28 pm ET
BAOJI CITY, China--(BUSINESS WIRE)--Shiming (OTCBB:SGUS - News), a Chinese consumer electronics company with 10 years of experience in high technology, today announced it has entered into a $400 million (US) joint venture agreement with the Chinese Government in Baoji City to build a new technology complex.
Shiming believes that this official partnership with the Chinese Government, combined with greatly increased 3G phone manufacturing capacity made possible through this joint venture, will make Shiming one of China’s leaders in 3G phone manufacturing.
Shiming is also advising that manufacturing heavy equipment will be part of the production capacity in this new technology complex, thanks to opportunities recently created through their new partnership with the Chinese Government.
The new technology complex, to be created on 200,000 sq meters already owned by the company in Baoji, China, will have floor space dedicated to 3G hardware and accessories, solar fuel cells, silicon chips, and heavy equipment targeting the rapid growth business sectors of oil field exploration and oil field services.
Groundbreaking for the new technology complex is scheduled for late 2008. Plans and pictures of the new technology complex are available at: http://snshiming.ir.stockpr.com/
Shiming Wang, company CEO, points out that: “The commercial 3G market currently being developed in China is government assigned, meaning three different 3G platforms have been government-issued to China’s big three mobile telecoms. This differs from many countries, because the government’s involvement in private industry guarantees that the companies chosen to partner with the government are assured a preferential place in China’s domestic market. We believe our new partnership with the Chinese Government will not only dramatically raise our profile in China’s emerging 3G market, but will also open doors previously closed to this company.”
Shiming has already started producing 3G phones and accessories at their existing state of the art manufacturing plant, and has current production capacity to produce 100 million 3G phones a year. The new joint venture agreement with the Chinese Government, which includes a construction contract with the Baoji National Hi-Tech Development Company to build a new 3G phone factory, will greatly expand Shiming’s manufacturing capacity and allow the company to target other areas of great demand in China. “Our new government contract and government connections are very significant to being a part of the tremendous economic growth occurring in China,” states CEO Shiming Wang.
The decision of Shiming’s Board of Directors to pursue the 3G phone market was based on the continuing rapid expansion of China’s mobile phone customer base (at a rate of 80 million new subscribers in 2007). The total number of current mobile phone subscribers in the country is 600,000,000, and is projected to grow at even faster rates in the next 1-3 years as the entire country switches from older technology onto the newly emerging nationwide 3G networks.
“3G is an evolutionary upgrade in mobile phone technology that will soon require all of China’s 600,000,000 plus users to abandon their obsolete phones in favor of new 3G hardware and software,” says CEO Shiming Wang. “We are confident that our new partnership with the Chinese Government will help us compete in China’s state-controlled domestic 3G market, as well as open previously unavailable new markets for our products. We believe that our new partnership with the Chinese Government will finally help us achieve our goal of growing sales, growing profits and increasing shareholder value.”
About Shiming
Shiming is a consumer electronics company with a particular focus on the development and manufacture of 3G related technologies and also seeks to focus on solar energy cells, and silicon chips along with developing products for China’s oil field and oil exploration business sector.
Shiming was originally formed in 1999 as Shaanxi Shiming Science & Technology Joint Stock Company Ltd., under the laws of the PRC. In November 2006, the company combined with Argenta Systems, Inc., a publicly traded company incorporated in Nevada and quoted on the OTC Bulletin Board. For more information please go to: http://snshiming.ir.stockpr.com/
Monday October 6, 8:08 am ET
XIAN, China--(BUSINESS WIRE)--Shiming (OTCBB:SGUS - News), a consumer electronics maker based in China with 27 years of manufacturing experience, announces that the company’s Board of Directors has recently decided to pursue 3G mobile phone technology along with pursuing the development of products aimed at China’s rapidly growing energy sector.
Shiming will immediately shift the focus of company resources based on a recent decision made by the Chinese government to terminate a 17% refund in VAT given to the manufacturers of LCD screens and televisions. Shiming is depleting current inventories of LCD computer screens and televisions, and has implemented a new company strategy to focus on more rapidly growing sectors of the Chinese economy.
Simultaneously, Shiming is pleased to announce that it has acquired 200,000 square meters of land in Boaji, China, and will use this additional land in order to focus on developing greater manufacturing capabilities so the company can enter China’s rapidly expanding energy services markets. Manufacturing development being planned on this new land will focus on solar energy cells, silicon chips and Shiming will explore developing products for China’s oil field and oil exploration business sector.
With their exit from the LCD screen business, Shiming’s current technology manufacturing plant will immediately be converted to focus on the development of 3G mobile phones.
China has the largest mobile phone market in the world, with 260,000,000 mobile phones currently in service within the country, and with new users joining faster than anywhere else on the planet. The Chinese mobile phone market is now moving rapidly towards third-generation mobile communication, known as 3G, which is the platform of choice for such companies as Apple and Google, among others.
This shift in focus represents a very good opportunity for Shiming. From a feasibility study reported by China’s Department of Communication, the 3G mobile platform will bring in revenue of 17.9-22.5 billion RMB ($2.61-3.29 billion US) in 2008 and revenue of 241-337 billion RBM ($31.2-49.2 billion US) by the year 2010. 3G mobile will open many business opportunities for mobile phone hardware and software from 2008 to 2010. Investment in 3G related technologies in China is expected to be 776-954 billion RMB ($113.3-139.3 billion US) during this two-year period.
Shiming believes that many companies will be attracted to developing products for 3G mobile related products. But the cell phone market has now dramatically changed with the invention of 3G. Before the development of 3G, many mobile phone manufacturers were able to enter the mobile phone manufacturing and sales markets just by testing their products on a standardized communication network. However, some of the companies with previous success joining this non-3G communications network will now have greater barriers to entry into the 3G market because the 3G platform is not standardized and instead is complexly configured by many different manufacturers.
Due to this increased network complexity, it is now necessary to continuously upgrade the 3G phone hardware and software so the phones remain compatible with many different communication network providers. 3G phones must also employ advanced technology and increased stability. The development of 3G phones requires extremely high standards in technology and manufacturing experience. With 27 years of experience in developing advanced technologies, Shiming has an advantage over newer companies.
After establishing initial expertise in 3G mobile technology, China will soon develop at least 9-10 manufacturers dedicated to the 3G platform within the country. This will change China’s dependence on importing semiconductors and phone hardware, since domestic suppliers will now be able to replace Japanese and Korean sources. China itself will own the development of 3G phone technologies which will lead to the improvement of Chinese quality, lower Chinese prices and providing better service through a competitive domestic market.
The company believes that existing mobile phone users will be switching to the new 3G platform due to increased quality and expanded services available on 3G, and mobile phone users will also want to continuously change the style and look of their 3G phones, just as they did with previous cell phone platforms. The company targets that from 2008 to 2010 the sales of 3G phones will increase from 20 to 100 billion RMB (from $2.92 to 14.6 billion US). In the next six years the accumulated sale of 3G phones should produce industry-wide revenue of 450 billion RMB ($65.7 billion US).
Shiming further believes that it has an advantage to compete in China’s 3G mobile phone market because the company’s current manufacturing capacity can produce 100 million 3G phones per year. Shiming believes it can become a leader in Chinese production of 3G phones and that the company’s products and technologies will influence the ongoing development of China’s 3G communication network.
Forward-Looking Statements
Some statements contained in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.
SEC Filings:
http://www.sec.gov/cgi-bin/browse-edgar?company=shiming&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany
COMPANY ADDRESS:
12/F,Shanxi Zhengquan Building,Gaoxin 2nd Road,Xi'an,Shaanxi Province,China TEL: (86-29)-88480529, FAX: (86-29)-88472240
E-mail: ir@snshiming.com Website: http://snshiming.ir.stockpr.com/
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