China Ventures Inc. Reports Third Quarter Results.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- China Ventures Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: CHV CHV canine herpesvirus. ) today announced third quarter and nine month results for the period ended September 30, 2004. Third Quarter Highlights: (Three months ended September 30, 2004 compared with three months ended September 30, 2003, unaudited, quoted in US dollars) - sales revenue: $1.63 million compared with $1.85 million - net revenue: $0.32 million compared with $0.23 million - profit per share: $.002 basic compared with $.001 basic Nine Month Highlights: (Nine months ended September 30, 2004 compared with nine months ended September 30, 2003, unaudited, quoted in US dollars) - sales revenue: $2.63 million compared with $2.24 million - net loss: $0.018 million compared with $0.36 million - loss per share: $.0001 basic compared with $.003 basic Ronald Shon, President, said "We are pleased to report these improved third quarter and nine month results. As previously reported, for the nine month period ended September 30, 2004, the company sold 11,442,000 books compared to 8,320,000 books for the comparable period in 2003, a 37.5% increase. The increase in sales has been reflected in our nine month financial results with the company showing a small loss of $18,000 compared to a loss of $362,000 in the comparable period last year. For the third quarter, the company reported net profit of $317,000 compared to $228,000 in the comparable period last year, a 39% increase. Our improving results are demonstrating the path to profitability from our efforts and are an important milestone as we continue to build a strong and viable business." About China Ventures Inc. ("CVI CVI C (Language) Virtual Instrument CVI Clinical and Vaccine Immunology (journal) CVI Chronic Venous Insufficiency CVI Coastal Vulnerability Index CVI Canaan Valley Institute ") CVI is a Canadian-based company focused on providing educational solutions to various segments of the Chinese economy. The admission of China into the WTO See World Trade Organization. and the granting of the 2008 Olympic Games Olympic games, premier athletic meeting of ancient Greece, and, in modern times, series of international sports contests. The Olympics of Ancient Greece Although records cannot verify games earlier than 776 B.C. to Beijing have created a growing demand for education, corporate training and extended learning in China which provides significant business opportunities to CVI. On August 2002, CVI acquired Today's Teachers Technology and Culture Ltd. ("TTTC TTTC Test Technology Technical Committee (IEEE) TTTC The Tibetan Tea Company (band) TTTC Too Tough to Call TTTC Trees to the Curb (band) ") in China to expand its educational operations. TTTC is a 12-year-old educational product distribution company whose product line includes books, software, audio and video materials, and educational training tools. On September 2003, CVI acquired Northern Education Books Ltd. ("NEB") which distributes a series of supplementary textbooks, similar to "Coles Notes," for the high school market. If you would like to receive press releases by email, please contact Ronald Shon, admin@chinaventuresinc.com. FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding revenue estimates and future plans and objectives of China Ventures - are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including China Ventures' analysis of its product and distribution system and its expectations regarding the effects of anticipated product and distribution changes and the potential benefits of such efforts and activities on China Ventures' results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. |
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