SOURCE: Ka Wang Holding, Inc.

August 16, 2007 09:15 ET

Ka Wang Is Negotiating to Acquire a Cotton Fiber and Yarn Manufacturing Facility in Northern China

LAS VEGAS, NV--(Marketwire - August 16, 2007) - Ka Wang Holding, Inc. (PINKSHEETS: KWGI), parent company of Ka Wang Department Stores in Southern China, announces that negotiations are underway to acquire a cotton fiber and yarn manufacturing facility in the Henan Providence in Northern China. The factory is located on 60 acres with 40 acres under roof of the large facility. The sales of the cotton and yarn manufacturing company reached $15,000,000 during 2006.

Mr. Mio LokTin, CEO, said this acquisition will help Ka Wang tremendously to control the output of their fabrics, increase their gross margin and better serve their customers with more custom designs, especially for the private labels in the US and European markets.

The acquisition negotiations are on track to be completed by the end of the year.

About Ka Wang Holding, Inc.

Ka Wang Holding, Inc., parent company of Ka Wang Department Stores in Southern China, has been operating since 1980. Their main business is high-end designer clothing for men and women. Ka Wang carries many of the top brands and has joint ventured with the famous Italian design brand "Jagger" to be their sole agency in the Far East. From one store in 1980, Ka Wang has expanded into 70 retail stores (including the acquisition of Hunan Golden Dragon). They also have their own manufacturing factory where they design, research and develop their own clothing lines for wholesale and retail customers. With the standard of living in China improving, the general population is becoming more conscious of designer wear labels. Ka Wang's 2006 sales reached 80 million with net income exceeding 30%.

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Contact Information

  • For additional information, please contact:

    Ka Wang Holding, Inc.
    Ruzao Zheng
    (702) 995-0477