DANYANG, China, Dec. 22, 2010 /PRNewswire-Asia/ -- Lihua International, Inc. (Nasdaq: LIWA) ("Lihua" or the "Company"), a leading Chinese developer, designer, and manufacturer of low cost, high quality alternatives to pure copper products, including refined copper products and superfine and magnet wire, as well as copper clad aluminum ("CCA") wire, today announced that it has updated its corporate website at http://www.lihuaintl.com with a year-end letter to shareholders from its Chairman and CEO, Mr. Jianhua Zhu.
In this letter to shareholders, Mr. Zhu reviewed Lihua's strategic and operational milestones, including the Company's capacity expansion and launch of its new copper anode product. Additionally, Mr. Zhu provided commentary on the state of the copper industry in China and how Lihua is poised to benefit from the ongoing growth in copper demand in light of significant supply constraints.
Additionally, the Company's 2009 State Administration for Industry and Commerce ("SAIC") financial filings for its two operating subsidiaries, Lihua Electron and Lihua Copper, as well as a reconciliation to its 2009 annual report on form 10K filed with the U.S. Securities and Exchange Commission ("SEC"), remain available at http://www.lihuaintl.com/Investor_Relations/Financial_Information.html.
The Company's SAIC filings are prepared in accordance with Chinese accounting regulations and policies, and reflect financial information relating to the Company's operating subsidiaries on an unconsolidated basis.
About Lihua International, Inc.
Lihua, through its two wholly-owned subsidiaries, Lihua Electron and Lihua Copper, is a leading value-added manufacturer of copper replacement products for China's rapidly growing copper wire and copper replacement product market. Lihua is one of the first vertically integrated companies in China to develop, design and manufacture lower cost, high quality alternatives to pure copper magnet wire and pure copper alternative products. Lihua's products include CCA and pure copper products. Current product offerings include CCA and copper wire, copper rod and copper anode. Except for CCA wire, all other products are produced from recycled scrap copper. Lihua's products are sold in China either directly to manufacturers or through distributors in the wire and cable industries and manufacturers in a wide variety of industries including the consumer electronics, white goods, automotive, utility, telecommunications and specialty cable industries. Lihua's corporate and manufacturing headquarters are located in the heart of China's copper industry in Danyang, Jiangsu Province. For more information, visit: http://www.lihuaintl.com.
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Safe Harbor Statement
This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, statements about its business or growth strategy, general industry conditions including availability of copper or recycled scrap copper, future operating results of the Company, capital expenditures, expansion and growth opportunities, bank borrowings, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements.
Please note that information in this press release reflects management views as of the date of issuance.
Lihua International, Inc.
EVP of Corporate Finance and Director of Investor Relations
The Piacente Group, Inc.
Brandi Floberg or Lee Roth
SOURCE Lihua International, Inc.