HONG KONG, Nov. 8, 2012 /PRNewswire/ -- Network CN Inc. (OTCBB.NWCN) is pleased to announce that the Company's wholly owned subsidiary, Yi Gao Shanghai Advertising Limited has entered into a contract to operate the advertising area of the UshopIn Import Commodity Exhibition Centre in "Zhuhai-Macau Cross Border Industrial Zone" (the "Zone").
Zuhai is one of the five special economic zones in China, all of which enjoy special economic policies and flexible government measures. The Zone is the first cross border industrial zone in China approved by the State Council, which is located between Gongbei district of Zhuhai city, Guangdong Province and Qingzhou district of Macau, including Zhuhai sub-zone (0.29 sq km) and Macau sub-zone (0.11 sq km). Zhuhai sub-zone is supervised by China's Customs directly and shares the policies of Free Trade Zone. UshopIn set up their first exhibition hall "UpshopIn Import Commodity Exhibition Centre", which is over 2,000 square meters and was built on the first floor of Union Building in Zhuhai sub-zone. UshopIn expected to establish their phase II and III of exhibition hall in the Zone and UshopIn also planned to expand their exhibition network to other cities in China.
Under the agreement signed with "Lek Pak Company Limited", NWCN has obtained a 34-month exclusive right to operate the 276 square meters advertising area located on the first floor of Union Building at the entrance of Zhuhai sub-zone. NWCN expects to co-operate with UshopIn for the development of phase II and III of the exhibition hall.
The development of China's economy is proceeding stably with the constantly increasing income of Chinese residents, especially the residents of Guangdong Province. The exhibition hall acted as a bridge of import commodities entering China market. Taking the advantages of the exhibition hall, NWCN can attract more national-wide companies to advertise. It is also a good opportunity for NWCN to widen its advertising network and broaden its product offering.
This new project marks the beginning of the Company's large scale business expansion plan to be implemented in the coming year: New Direction of NWCN
NWCN has extended its business direction to not just selling air-time for its media panels but started working closely with property developers in media planning for the property at the very early stage. By doing so, NWCN has been able to attract several property developers to grant the company media right within the whole property. These will include exhibition and conference centres, shopping malls, etc. This new business model will create a closer work relationship between the property owners and NWCN as they welcome a more thorough and well-planned media layout in their property at an early stage. Under this approach, the property owners are more eager to work with NWCN and even more ready to invest in the installation of media panels. NWCN is therefore anticipating exciting business expansion in the near future by providing this new advertising services.
Please refer to Network CN's website (http://www.ncnmedia.com) for additional details.
About Network CN Inc.
Headquartered in Hong Kong, Network CN Inc. is building a multi-media, multi-application out-of-home advertising network in the key cities of China.
Safe Harbor Statement
This press release includes statements that may constitute "forward- looking" statements, usually containing the word "believe", "estimate", "project", "expect", "plan", "anticipate" or similar expressions. Forward- looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, risks related to financing, risks attending the build-out of the Company's media network, acceptance of the Company's products and services in the marketplace, competitive factors and changes in regulatory environments. These and other risks relating to Network CN Inc. business are set forth in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 16, 2012, and other reports filed from time to time with the Securities and Exchange Commission. By making these forward- looking statements, Network CN Inc. disclaims any obligation to update these statements for revisions or changes after the date of this release.
Network CN Inc.
SOURCE Network CN Inc.