TAIYUAN CITY, China, Aug. 23, 2012 /PRNewswire-Asia-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced its senior management, including Vice President Mike Li and Chief Financial Officer Michael Toups, will participate live from the PRC in the RedChip Small-Cap Virtual Conference at 9:45 a.m. EDT on Wednesday, August 29, 2012.
"I am very pleased to participate in the RedChip conference with our CFO," stated Mike Li, Longwei's VP. "I look forward to sharing some operational insight into the Company with our shareholders and investors."
During the RedChip Small-Cap Virtual Conference, Company executives will offer information and analysis of their business during a webcast presentation. The presentation lasts approximately 30 minutes, followed by a 15-minute question-and-answer session.
"In our continuing effort to build more corporate transparency and visibility into the Company, Mr. Li will join us for the call while we are together in Taiyuan," stated Michael Toups, Longwei's Chief Financial Officer. "Mr. Li has been instrumental in the growth of the Company and helping us expand our operations in central China."
The presentation will be webcast live and archived for a minimum of 30 days. To register for the conference, visit http://www.RedChip.com/virtualconference.
Longwei was recently named to the Forbes list of "Asia's 200 Best Under a Billion" from a universe of 15,000 companies. Forbes ranked the companies based on sales growth, earnings growth and return on equity in the past 12 months and over three years. Longwei's three-year track record is 45% sales growth, 28% earnings per share growth and 28% return on equity. The Forbes article can be found at: http://www.forbes.com/sites/christinasettimi/2012/07/25/asias-200-best-under-a-billion.
About Longwei Petroleum Investment Holding Limited
Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China. The Company's oil and gas operations consist of transporting, storage and selling finished petroleum products, entirely in the PRC. The Company's headquarters are located in Taiyuan City, Shanxi Province. The Company has a storage capacity for its products of 120,000 metric tons located at storage facilities in Taiyuan and Gujiao, Shanxi. The Company's Taiyuan and Gujiao facilities can store 50,000 metric tons and 70,000 metric tons, respectively. The Company has the necessary licenses to operate and sell petroleum products not only in Shanxi but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in Shanxi.
The Company seeks to earn profits by selling its products at competitive prices with timely delivery to coal mining operations, power supply customers, large-scale gas stations and small, independent gas stations. The Company also earns revenue under an agency fee by acting as a purchasing agent for other intermediaries in Shanxi, and through limited sales of diesel and gasoline at two retail gas stations, each located at the Company's facilities. The Company seeks to continue to expand its customer base and distribution platform through the utilization of its large storage capacity, which allows the Company the flexibility to take advantage of pricing, supply and demand fluctuations in the marketplace.
For further information on Longwei Petroleum Investment Holding Limited, please visit http://www.longweipetroleum.com. You may register to receive Longwei Petroleum Investment Holding Limited's future press releases or request to be added to the Company's distribution list by contacting Dave Gentry at [email protected].
SOURCE Longwei Petroleum Investment Holding Ltd.