China Keli Electric Co., Ltd.
TSX VENTURE : ZKL

November 29, 2010 13:37 ET

China Keli Expands Sales in Guangxi Province of China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2010) - China Keli Electric Company Ltd. (TSX VENTURE:ZKL) ("China Keli" or the "Company") is pleased to announce that since August 2010, Zhuhai Keli Electric Co., Ltd. ("Zhuhai Keli"), the Company's operating subsidiary in the People's Republic of China ("PRC"), has continued to win a series of competitively bid projects offered by Guangxi Provincial Power Grid Corporation of China Southern Power Grid (one of the only two power grids in PRC). In this fiscal year (starting May 1, 2010), the total value of the bid projects which Zhuhai Keli has won in Guangxi Provincial Power Grid, has reached RMB 15,088,960 (approximately C$2,318,000). Together with contracts from other users, the total contract value which Zhuhai Keli has won in Guangxi Province so far this fiscal year exceeds RMB 16,890,000 Yuan (approximately C$2,600,000). "We are very pleased with the way we have been able to penetrate the market in Guangxi Province," said China Keli CEO, Lou Meng Cheong, "In just one year, our sales in this Province have increased by a factor of five to over C$2.6 million, and we expect further expansion based on China Keli's growing reputation for manufacturing state-of-the-art quality products at competitive prices."

China Keli views Guangxi Province as an important market for the Company's products both now and in the future. According to Guangxi Provincial Power Grid Corporation, the investment in the provincial grid and power distribution will continue to grow rapidly in the coming years. Guangxi Province is located next to Vietnam, and each year the province hosts the China-ASEAN Expo (ASEAN: Association of Southeast Asian Nations, member countries include Vietnam, Thailand, Malaysia, Philippines, Indonesia, Singapore, etc.) and China-ASEAN Business and Investment Summit. The successful expansion of the Company's sales efforts into Guangxi Province should help the Company enter new markets in the ASEAN countries.

About China Keli Electric Company Ltd.

China Keli is a hi-tech company that develops, manufactures and installs hi-voltage electrical components and equipment, including preassembled mini-substations, electrical controllers, pressurized/vacuumed switchgears and circuit breakers in the People's Republic of China. China Keli's markets include electrical transmission and distribution systems, Smart Grid, and the transportation sector (railways, subways, street lighting, etc).

ON BEHALF OF THE BOARD OF DIRECTORS

Mr. Lou Meng Cheong, CEO

Mr. Kai Hong Chan, Secretary

This news release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • China Keli Electric Company Ltd.
    Mr. Lou Meng Cheong
    CEO
    (604) 270-2345
    or
    China Keli Electric Company Ltd.
    Mr. Kai Hong Chan
    Secretary
    (604) 270-2345