|
|
| Investor Relations |
Press Releases |
Gold Horse International Announces Two New Building Contracts of Nearly $10 Million in Western China |
| HOHHOT, China, Aug. 29, 2007 (PRIME NEWSWIRE) -- Gold Horse International, Inc. (OTC BB:SPEH.OB - News) announced two new building contracts, both having commenced this month, in Western China. The projects total nearly $10 million and should yield profits of about $1,750,000, according to management. |
| Mr. Yang Lian Kuan, Chairman and CEO of Gold Horse, offered the following details: "The Hohhot Government facility covers an area of 8,163 square meters with reinforced concrete and brick construction. Construction commenced on August 8th, and should be completed in February 2008. The revenue of this project should reach $855,062 and the profit is expected to be $153,911." |
"The construction of four buildings at Inner Mongolia Riverbank Gardens, a residential project, covers an area of 45,912 square meters with frame construction. Construction commenced on August 15th, and should be completed in early May 2008. The revenue for this project should reach $8,834,203 and the profit is expected to be $1,590,157.''
|
Mr. Yang also confirmed that Adam Wasserman, Chief Financial Officer, shall arrive in China soon after Labor Day to assist in the completion of the Company's 2007 annual report. This audited financial review, to be filed as 10-KSB with the S.E.C., is being performed by Kabani & Company of Los Angeles, California. "We are confident that our shareholders will be impressed by the Company's performance over the past 12 months,'' predicted Mr. Yang. |
About Gold Horse International, Inc. |
Gold Horse, through its wholly owned subsidiary, Global Rise International Ltd., controls and operates Inner Mongolia Jin Ma Construction Co., Ltd. ("Jin Ma Construction''), Inner Mongolia Jin Ma Hotel Co., Ltd. ("Jin Ma Hotel'') and Inner Mongolia Jin Ma Real Estate Development Co., Ltd. ("Jin Ma Real Estate'', and collectively the "Jin Ma Companies''), all based in Hohhot City, the regional capital of Inner Mongolia Autonomous Region in the People's Republic of China. Jin Ma Construction has been providing construction and general contractor services in Hohhot City to both private developers and the local and regional governments since 1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a full-service two-star hotel located in Hohhot City. Jin Ma Real Estate develops residential and commercial properties in Hohhot City. |
Over the past two years, the Jin Ma Companies as a whole has shown significant growth with revenues increasing from $16.6 million to $22.6 million for the fiscal years ended June 30, 2005 and 2006 respectively. For the nine months ended March 31, 2007, the unaudited aggregate revenues of the Jin Ma Companies already reached $20.4 million. Net profits have also exhibited an increase over the same periods from $1.2 million to $1.7 million between the fiscal years ended June 30, 2005 and June 30, 2006. The full financial statements of Gold Horse for the fiscal years ended June 30, 2005 and 2006 and for the nine-months ended March 31, 2007, are included in the 8-K/A. |
Liankuan Yang, the Chief Executive Officer of Speedhaul stated: "We are in the enviable position of operating businesses among the fastest-growing industries and in one of the fastest growing regions in China. The closing of our reverse merger transaction will now provide us with the opportunity to attract working capital that we need to continue and accelerate the growth of the Jin Ma Companies.'' |
| Forward-looking Statements |
| Statements made in this news release, may contain forward looking statements concerning Speedhaul's business operations. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, market acceptance, competition from existing and new competitors, and various other factors beyond its control. The risks inherent in Speedhaul's business operations are detailed under "Risk Factors'' in its Current Report on Form 8-K/A filed on July 9, 2007. Speedhaul undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release. |
Contact:
Speedhaul Holdings, Inc.
Jonathan Blum
(917) 848-8506
info@GoldHorseInternational.com |
|
| This website contains forward-looking statements that involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the company's business and financial results is included in the Company's filings, available via the United States Securities & Exchange Commission. Occasionally, the Company may select and post articles or opinions of third parties, with no known connection with the Company. These are considered expert or qualified writers about the Chinese economy and its various opportunities and pitfalls. The Company neither endorses nor rejects these views or content, and the articles are offered only for the readers' edification and personal analyses. |
|
