FUZHOU, China, Sept. 28 /PRNewswire-Asia-FirstCall/ -- China Yida Holding Company (Nasdaq: CNYD) ("China Yida" or the "Company"), a leading diversified entertainment enterprise in China, today announced that its Yunding Park opened to the public on September 28, 2010, in time to be able to attract peak visitor traffic during the National Holiday.
Yunding Park provides a unique environment of natural attractions and cultural exhibits in a mountainous area that is reached via a cable car. Tourists will be able to enjoy beautiful views at five exceptional sites, including Flower Terrace, Heavenly Lake, Colorful Waterfall, Red River Valley and Jade Valley. Starting from September 15, 2010, China Yida has conducted a series of marketing campaigns through outdoor advertising, newspapers, radio and television to publicize the opening of Yunding Park. As of the opening date, the Company has signed agreements with over 40 tourism agencies to bring tourist groups to Yunding Park.
"We are very excited to announce the grand opening of Yunding Park in time for the National Holidays. As the foremost tourist destination in Fuzhou, the capital city of Fujian province, we expect Yunding Park to make a significant contribution to our financial results in the quarters ahead," commented Dr. Minhua Chen, China Yida's Chairman and Chief Executive Officer.
As had been previously disclosed, the Company's Great Golden Lake destination was damaged by two severe floods on June 18 and July 7, 2010, and was closed to visitors for approximately 30 days. Following a recent inspection and in consultation with Taining local government, the Company decided to postpone the re-opening of Shangqing River attraction to allow additional work to reconstitute the appeal and quality of the tourist experience. All other attractions within the Great Golden Lake, including Golden Lake, Zhuangyuan Rock, Luohan Mountain and Taining Old Town, remain open and are operating well. Following the National Holiday, the Company plans to provide an update regarding visitor traffic to the Great Golden Lake as well as an assessment of the potential impact of a prolonged closure of Shangqing River to its overall business.
"We will continue our effort to restore the Shangqing River and look forward to opening it to tourists as soon as possible," concluded Dr. Chen.
About China Yida
China Yida is a leading diversified entertainment enterprise focused on China's fast-growing media and tourism industries and headquartered in Fuzhou City, Fujian province of China. The Company's media business provides operations management services; including channel, column and advertisement management for television station, presently the Fujian Education Television Station ("FETV", a top-rated provincial education television channel), and "Journey through China on the Train" (an advertisement-embedded travel program, currently the only on-board media program from third party authorized by Ministry of Railways). Additionally, the Company provides tourism management services, and specializes in the development, management and operation of natural, cultural and historic scenic sites. China Yida currently operates the Great Golden Lake tourist destination (Global Geopark, including Golden Lake, Shangqing River, Zhuangyuan Rock, Luohan Mountain and Taining Old Town), Hua'An Tulou tourist destination (World Culture Heritage, including Dadi Tulou cluster and the Shangping Tulou cluster), China Yunding Park (National Park, including Flower Terrace, Heavenly Lake, Colorful Waterfall, Red River Valley and Jade Valley). It is also developing three other tourism projects, including, the Ming Dynasty Entertainment World, China Yang-sheng (Nourishing Life) Paradise and the City of Caves. The Company's operating scenic sites are over 300 square kilometers in area. For further information, please contact the Company directly, or visit its Web site at http://www.yidacn.net .
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov.
For more information, please contact: China Yida Holding George Wung, CFO Phone: +1-909-843-6358 Email: email@example.com CCG Investor Relations Crocker Coulson, President Phone: +1-646-213-1915 Ed Job, CFA Phone: +86-21-3133-5075 Email: firstname.lastname@example.org
SOURCE China Yida Holding Company