SOURCE: Great China Mania Holdings

Great China Mania Holdings

May 21, 2012 09:22 ET

Great China Mania Holdings, Inc. (OTCBB: GMEC) Announces First Quarter 2012 Financial Earnings

HONG KONG--(Marketwire - May 21, 2012) - Great China Mania Holdings, Inc. (OTCBB: GMEC) (the "Company" or "GMEC") today announced its earnings for the quarter ended March 31, 2012.

Highlights of First Quarter 2012 Financials

Revenues for the quarter ended March 31, 2012 were $1.45 million, up 65% from $0.88 million for the same period in 2011.

Gross profit was $434,855 for the current quarter, an increase of 69% from $257,303 for the same period in 2011.

Net loss for the current quarter increased slightly to $20,094 as compared to $4,646 for the same quarter last year.

Sales of electronic contents and traditional magazines increased to $625,170 for the current quarter, up 30% from $479,075 for the same quarter last year.

Artist management services revenues increased three fold to $435,318 for the current quarter as compared to $105,768 for the same quarter last year.

Sales of video games and accessories increased by 34% to $393,668 for the current quarter as compared to $294,010 for the same quarter last year.

Gross profits increased across all 3 business segments for the three months ended March 31, 2012 as compared to the same period in 2011. Gross profit margin of the Company as a whole also improved to 30% for this quarter from 29% for the same quarter last year.

"I am pleased with GMEC's performance this quarter. Revenues and gross profits increased over all 3 business segments for the first quarter of 2012 as compared to the same period last year," Wai Hung Yau, CEO of GMEC, commented. "In the first quarter of 2012, we have partnered with Beijing Information Technology and launched an iPad application to release a digital magazine called 'Young Heat' in China. This partnership enables GMEC to penetrate into the Chinese electronic content market and is proved to be a great success. 'Young Heat' reached out to a 1.4 million readership for just the first week after its launch."

Mr. Yau further stated, "During the last quarter, we have also broadcasted our digital radio drama e-book through 'Guangdong Voice of the City FM 103.6,' the biggest radio station in Southern China. Looking forward in this quarter, we will distribute this digital radio drama e-book to other provinces in China through Internet and mobile networks."

About Great China Mania Holdings, Inc.:

GMEC is an electronic content provider that provides leisure and lifestyle related electronic content through portal websites and major cell phone network operators. The Company also utilizes this electronic content to produce traditional paper magazines. In order to support the provision of electronic content, the Company operates an artist management company to leverage on the popularity of artists and celebrities in stories and events creations.

http://www.greatchinamania.com

Safe Harbor Statement

Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "anticipate," "estimate," "project," "intend," "expect," "should," "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Great China Mania Holdings actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Great China Mania Holdings filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Great China Mania Holdings herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Great China Mania Holdings disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.

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