SOURCE: Shiming U.S., Inc.

December 27, 2007 09:00 ET

Shiming U.S. Announces Third Quarter 2007 Results

SHANXI PROVINCE, CHINA--(Marketwire - December 27, 2007) - Shiming U.S., Inc. (OTCBB: SGUS), a consumer electronics maker based in China, announced its financial results for the third quarter ending September 30, 2007 in its quarterly report filed with the SEC on November 19, 2007.

Third Quarter 2007 Results as Compared to the Same Period in 2006 (in U.S. Dollars):

--  Revenues increased 171 percent, from $1.1 million to $2.9 million
    
--  Net income more than doubled, increasing by $363,000 to $696,000
    
--  Earnings per share increased 259 percent year over year to 1.04 cents
    from .29 cents
    
--  Total operating expenses decreased 23.4 percent to $0.4 million from
    $0.5 million year over year
    

Following a positive second quarter in 2007, the company's third quarter in 2007 also compared favorably against the same period in 2006, with higher revenues and lower operating expenses. Compared to Shiming's first nine months of 2006, the same nine month period of 2007 saw sales increase 67 percent from $4.9 million to $8.2 million.

The positive growth of the company corresponds with growing consumer demands where Shiming products are sold. The company may seek additional financing to fund research and development and to expand its production capacity in order to meet anticipated growing demands. "Our ability to bolster our research and development efforts and to increase our production capacity is key to Shiming's future growth and to our ability to secure a better position within the industry," stated the company's chief executive officer, Mr. Shiming Wang.

About Shiming U.S., Inc.

Shiming U.S., Inc. is a consumer electronics company with a particular focus on the development and manufacture of competitively priced LCD products, including HDTV and computer monitors. Shiming's manufacturing plant is located in the Changxin High and New Technology Industrial Garden in Shenzhen, China. For several years we have been involved in the research and development of consumer electronics products and technologies such as LCD, plasma displays, and household electronics.

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking information about Shiming that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and Shiming's future performance, operations and products.

This forward-looking information should be considered only in connection with Shiming's quarterly report on Form 10-QSB filed with the SEC on November 19, 2007, and its other current and periodic reports filed with the SEC. Shiming assumes no obligations to update any forward-looking statements or information set forth in this press release.

Contact Information

  • Contact:
    Shiming U.S., Inc.
    Chunan Liu
    Chief Financial Officer
    Email Contact