SOURCE: China Global Media, Inc.

February 06, 2012 07:00 ET

China Global Media, Inc. Announces Financial Performance Goals for Fiscal Years 2012 and 2013

CHANGSHA, CHINA--(Marketwire - Feb 6, 2012) - China Global Media, Inc. (OTCBB: CGLO) announces its financial performance goals for fiscal years 2012 and 2013. Based on the strong financial performance achieved in fiscal year 2011, CGLO attempts to achieve annual turnover of US $80 Million and annual profit of $15 Million in fiscal year 2012 and achieve annual turnover of US $150 Million and annual profit of $30 Million in fiscal year 2013.

About China Global Media, Inc.

China Global Media, Inc. (OTCBB: CGLO) mainly engages in the business of advertisement and brand name development in China, especially in Hunan Province and other southern Chinese provinces. It carries out business operations through its Hong Kong subsidiary Phoenix International (China) Limited, its Chinese subsidiary Hunan Beiwei International Media Consulting Co., Ltd, and, by contractual arrangement, its three affiliated operating entities including Changsha North Latitude 30 Cultural Communications Co., Ltd., Changsha Beichen Cultural Communications Co., Ltd. and Changsha Zhongte Trade Advertising Co., Ltd. Additional information about China Global Media, Inc. can be found on the web at www.cnbwi.net.

Safe Harbor Statement

Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause China Global Media, Inc.'s actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our 8K dated July 22, 2011, and other recent filings. These filings are available atwww.sec.gov. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information

  • Investor Relations Contact:
    Jun Liang
    Chief Financial Officer, Chief Strategic Officer
    25-26F Wanxiang Enterprise Building,
    No.70 Station North Road,
    Changsha, Hunan Province,
    China, Postal Code: 410001
    Phone: +86-731-89970899
    Email: Email Contact

    www.cnbwi.net