China Redstone Group - Symbol APBS becomes 'CGPI'
China Redstone Group, Inc. Announces Name Change From Artistry Publications, Inc.; New Trading Symbol 'CGPI'
PR Newswire
CHONGQING, China, April 7
CHONGQING, China, April 7 /PRNewswire-FirstCall/ --
China Redstone Group, Inc. (OTC Bulletin Board: CGPI) (formerly OTC Bulletin Board: APBS) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, today announced that it has changed its name from Artistry Publications, Inc. to China Redstone Group, Inc. effective April 6, 2010. In connection with this name change to China Redstone Group, Inc., as of the open of business on April 7, 2010, the Company has the following new trading symbol: "CGPI."
The purpose of the name change is to better reflect the Company's position as a leading developer and provider of cemetery products and services in China. China Redstone provides a complete range of funeral merchandise and services, including well-located, highly sought after cemetery property. The Company currently has 94 acres of available land for cemetery development, 80% of which is still undeveloped. Growth for cemetery products and services in China is expected to grow rapidly due to current demographic trends including aging and urbanization of the country's population. China Redstone, which has 10% of the cemetery market and plans to sell at least 5,000 to 7,000 graves annually, expects the new corporate name to more effectively brand and position the Company, its products and services among potential customers, as well as its recognition among current and potential investors.
"China Redstone is well positioned to participate as a leader in the growing death care industry, which was cited in 2008 as the third most profitable industry in China by the Ministry of Civil Affairs of the PRC," stated Mr. Yiyou Ran, Chairman of the Board of China Redstone. "Our new corporate name reinforces our strong position in this industry as we leverage our premium cemetery plots and funeral home services to meet growing market demand resulting in strong future operating and financial performance."
China Redstone Group, Inc.
China Redstone Group, Inc. is a cemetery developer and provider of cemetery products and services in Chongqing, China through its contractually controlled affiliate Chongqing Foguang Tourism Development. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis. Its cemeteries are highly regarded in terms of a number of factors such as tradition, reputation, physical size, capacity of business, available supply, name recognition, aesthetics and potential for development or expansion.
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