Intermost Corporation (OTC Bulletin Board: IMOT) -- a leading electronic equity exchange service provider in China -- expands its partnership roster after having established strong relations with Hainan Special Economic Zone Property Rights Exchange Center and China Chengdu United Equity Exchange. ChinaE.com Technology (Shenzhen) Ltd ("ChinaE. com Technology") and ChinaE.com Investment Consultant (Shenzhen) Ltd ("ChinaE. com Investment") -- wholly-owned subsidiaries of Intermost Corporation -- signed three cooperative agreements with the Shenzhen International Hi-Tech Property Right Exchange Center ("SIHTPE").
Frequently called an economic miracle, Shenzhen is one of the most prosperous cities in Southern China. Such economic momentum is also reflected in the enormous trading volume of SIHTPE which was $ 4.11 billion USD in 2005. SIHTPE is among the top best performed equity exchanges in China.
In the "System R&D Agreement", ChinaE. com Technology is committed to develop a stock equity registration system for SIHTPE, a system similar to the one it developed for Hainan Zhenghua Securities Depository Service Co., Ltd.
In the "SIHTPE Broker Agreement", ChinaE. com Investment, which was established on June 30, 2006 with a specialty in investment consultant business, is accredited as an authorized broker on SIHTPE. Besides, SIHTPE will use China Equity Exchange Platform ( http://www.chinae.com ) for transactions. It is believed that the platform will streamline the transaction procedures and speedup the commercialization of technological innovations. ChinaE. com Investment will collect a commission of no less than 0.1% of the exchange volume.
According to the "Overseas Listing Cooperative Agreement", ChinaE. com Investment and SIHTPE will work together in selecting and recommending qualified enterprises to list on overseas stock markets in the USA, Hong Kong, and Singapore, among others. ChinaE. com Investment will share the consultancy fees derived from the overseas listing and financing business.
Mr. Andy Lin, CEO of Intermost Corporation, pleased with the rapid expansion of Intermost's China Equity Exchange Platform, said, "SIHTPE is our third equity exchange partner after Hainan and Chengdu exchanges. SIHTPE represents a great opportunity to participate in the explosive and lucrative markets of Southern China. The addition of SIHTPE widens our market coverage and consolidates our leading market position."
Mr. Lin also remarked, "IMOT Information Technology (Shenzhen) Ltd., a wholly-owned subsidiary of Intermost Corporation, also holds a 15% equity interest in SIHTPE. Its rapid development will contribute to Intermost's online equity exchange business, and will bring additional returns to our investors."
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This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.
Contact:
Intermost Corporation
Mr. Andy Lin
Tel: +86-755-8221-0238
Email: ir@intermost.com