CHCL news:
HONG KONG, Feb. 2 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL) announced
today that its Chairman, Mr. Harry H.H. Ho, has privately sold five million shares of China Continental to
an offshore Hedge Fund in a block trade at an undisclosed price.
The hedge fund involved is based in the Cayman Islands. The primary focus of the fund is to invest in
publicly traded securities, especially US securities, seeking significant long-term appreciation. The fund
identifies securities that are selling significantly below their "intrinsic value."
"For the past five years, China Continental has had consistent, positive revenues and profitability. It also
has a strong balance sheet with significant cash. Since the last quarter, the aggressive acquisitions by
China Continental have positioned the Company as one with tremendous growth potential," the Hedge
Fund spokesman commented.
About China Continental Inc.
China Continental Inc., traded on the Nasdaq market since 1995, is a holding company with over 10 years
of experience in developing turnkey businesses. Core activities include supplying plastic manufacturing
technology on a turnkey basis, high technology manufacturing techniques in primary industries, and
developing and providing technologies in agricultural genetics and farming.
To date, China Continental Inc. has completed over 70 turnkey projects, varying in size for different
industrial processing sectors in China. The manufacturing arm of China Continental, Inc., Asia Continental
Limited, is engaged in applying state-of-the-art technology to the manufacturing and distribution of
chemical fiber related products and steel drums in China. In October 1999, Asia Continental Limited
announced its intention to list on the Stock Exchange of Singapore. The Company's agricultural genetics
and farming activities are centralized in the Inner Mongolia Province of China, covering an area of 406
square kilometers to commercialize its genetic techniques in breeding as well as propagating superior
livestock and products in its own Research and Development Institute.
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