Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc.

August 30, 2007 14:23 ET

Grand Power Logistics Group Reports Second Quarter Results

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwire - Aug. 30, 2007) - Grand Power Logistics Group Inc. ("Grand Power") (TSX VENTURE:GPW) announces the consolidated financial results for its fiscal second quarter ended June 30, 2007. These results include the operating results of Grand Power's wholly-owned subsidiary, Grand Power Express International Limited of Hong Kong (GP Express).

Grand Power reports that revenue increased by 128.2% to $23,621,657 compared to $10,349,591 for the same period in 2006. With increased expenses due to continued corporate expansion, net income decreased slightly to $242,028 compared to $261,543 for the second quarter of 2006. Tonnage shipped in the second quarter increased by 78.2% to 10,177 tonnes, compared to 5,710 tonnes for the corresponding period in 2006. Basic and diluted earnings per share for the period were both $0.01 per share, compared to $0.012 for the same period last year.

Ricky Chiu, President and CEO of Grand Power Logistics Group said, "We are very satisfied with our results for the quarter, particularly with the strong revenue growth. We are also pleased with the continued growth in tonnage shipped, which underlines the fact that we are increasing our higher value business with new direct customers, particularly into North America and Europe." Mr. Chiu adds, "With our expansion into Shenzhen, Guangzhou, and Jiangmen, and the addition of more experienced staff to support those operations, we are definitely seeing the results overall."

Commenting on the future, Mr. Chiu said, "We continue to see an exciting future for Grand Power. We are certainly increasing our presence in all of our key locations, and we will continue to add direct clients to our customer base, particularly for the North American and European markets which have been a growing, profitable segment of our business".

About Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc. operates principally through its wholly owned Hong Kong based subsidiary, Grand Power Express International Limited (GP Express) and provides air-freight forwarding and sea-freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services. GP Express has established operations in various regions, particularly in the Greater Pearl River Delta (GPRD), China's largest economic region. GP Express' Subsidiaries or Branch Offices in this region are located in Macau, Shenzhen, Guangzhou, and Jiangmen. GP Express also operates in other regions through Subsidiaries and Branch Offices or Supporting Offices in Shanghai, Taipei, Bangkok and Los Angeles.

Forward-looking statements: Statements included in this press release that are not historical facts may be considered "forward looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

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

Contact Information