China Ceramics Announces Progress in its Plans to Enter the Malaysian Market
JINJIANG, China, Nov. 26, 2019 /PRNewswire/ -- China Ceramics Co., Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced that the Company has entered into a non-binding letter of intent with a Malaysian contractor for the Company's ceramic tiles including its new 'cooling' ceramic tiles that it introduced in August of 2019. The Malaysian contractor intends to use the Company's ceramic tile products for use in high rise apartment buildings in the third quarter of 2020.
"This is an important step to increasing our exports to Southeast Asia due to the rapid rise in construction in the region and its climate conditions which make it an ideal fit for many of our ceramic tile products. Provided that the market demand and related conditions are in place, we plan upon substantially increasing our exports to this region," said Ms. Meishuang Huang, Chief Executive Officer of China Ceramics. "China Ceramics continues to deploy innovation and competitive pricing to secure new business. We believe that our new products will help us to enter new markets and ultimately diversify our revenue stream while contributing to our future growth."
The Company's anticipated entry into Malaysia is the first step of an expansion effort into Southeast Asia that is intended to capitalize upon the increased level of the region's new building construction which is due in part to China's Belt and Road Initiative. The Company foresees this as an opportunity to utilize its currently unused production capacity as it enters a dynamic regional market with an estimated population of 660 million people. The Company's Chief Executive Officer, Ms. Huang Meishuang, will oversee the execution of this planned expansion.
The Company plans to introduce specialized products into the Southeast Asia market that are suitable for the region due its generally warm climate, including the Company's recently announced new 'cooling' ceramic tiles. This building product is a new type of exterior ceramic tile designed to cool indoor temperatures of buildings. The new cooling ceramic tile series is designed as a stone pattern with a look of natural décor and luxury with richer patterns than organic stone materials. The Company is in the final stages of testing the new product and receiving its certification.
About China Ceramics Co., Ltd.
China Ceramics Co., Ltd. is a leading manufacturer of ceramic tiles in China. The Company's ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics' products, sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the "TOERTO" and "WULIQIAO" brands, and the "Pottery Capital of Tang Dynasty" brands, are available in over 2,000 style, color and size combinations and are distributed through a network of exclusive distributors as well as directly to large property developers. For more information, please visit http://www.cceramics.com.
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the Company's ability to enter and capitalize on market opportunities in the Southeast Asian markets, its ability to complete and bring its new line of building materials to the market in time to meet current and future market demand, the continued stable macroeconomic environment in the PRC, the PRC real estate and construction sectors continuing to exhibit sound long-term fundamentals, our ability to bring additional capacity online going forward as our business improves, our customers continuing to adjust to our product price increases, our ability to sustain our average selling price increases and to continue to build volume in the quarters ahead, and whether our enhanced marketing efforts will help to produce wider customer acceptance of the new price points. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2018 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
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