TAIYUAN CITY, China,
Dec. 28, 2012 /PRNewswire-Asia/
-- 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"), has renewed its agreement with RedChip Companies, Inc.
("RedChip") for investor relations services.
"We've had the pleasure of working with RedChip for more than
four years," said Cai Yongjun, Chairman and Chief Executive Officer
of Longwei. "They have been with us since our initial entrance into
the U.S. capital markets and have played a key role in our investor
communication efforts. We are pleased to continue our relationship
with RedChip as we enter yet another high-growth phase of our
business."
"RedChip's platform has served us well over the past four
years," stated Michael Toups, Chief Financial Officer of Longwei.
"More recently, we've benefited from added exposure of our story
through RedChip's new television program, 'The RedChip Money
Report.' We plan to use multiple platforms to continue to
disseminate the Company's story to both institutional and retail
investors."
Dave Gentry, President and CEO of
RedChip, stated, "With strong leadership at the helm, Longwei has
grown from one facility to three since first engaging RedChip. Over
the past three years, they have recorded annual sales growth of
45%, with net income rising 28% annually, earning the distinction
of Forbes Asia's "Best Under A Billion" in July 2012. We believe Longwei will continue its
track record of strong growth in the quarters ahead, capitalizing
on the ramp-up of its Huajie facility and organic growth at the
Company's two existing facilities.
"Moving forward, we will leverage the strong capital market
foundation we've helped Longwei build over the past four years,"
continued Mr. Gentry. "We believe our comprehensive investor
communication solutions can provide the ideal platform to produce
improved valuation metrics for Longwei in the months and quarters
ahead."
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, storing 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 220,000 metric tons located at three storage facilities
within Shanxi: Taiyuan, Gujiao and
Huajie, which have an individual storage capacity of approximately
50,000 metric tons ("mt"), 70,000mt, and 100,000mt,
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 transportation
companies, coal mining operations, power supply customers,
large-scale gas stations and small, independent gas stations. The
Company also earns revenue from agency fees 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 Taiyuan and Gujiao 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, please visit
http://www.longweipetroleum.com. You may register to receive the
Company's future press releases on the website under 'Email
Alert.'
About RedChip
RedChip Companies, an Inc. 5000 company,
is an international small-cap research, financial relations, and
media company headquartered in Orlando,
Florida; with affiliate offices in San Francisco, Beijing, Seoul, Hong
Kong and Singapore. RedChip
delivers concrete, measurable results for its clients through its
extensive global network of small-cap institutional and retail
investors. RedChip has developed the most comprehensive platform of
products and services for small-cap companies, including: RedChip
Research™, Traditional Investor Relations, Digital Investor
Relations, Institutional and Retail Conferences, "The RedChip Money
Report" TV show, Shareholder Intelligence, Social Media and
Blogging Services, and Webcasts. To learn more about RedChip's
products and services, please visit:
http://www.redchip.com/visibility/productsandservices.asp.
Forward-Looking Statements
Certain statements
contained herein constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations,
estimates and projections about Longwei's industry, management's
beliefs and certain assumptions made by management. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of the Company may differ materially from
the results expressed or implied by such forward-looking
statements. Given these uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. Longwei's
operations are conducted in the PRC and, accordingly, are subject
to special considerations and significant risks not typically
associated with companies in North
America and Western Europe.
These include risks associated with, among others, the political,
economic and legal environment and foreign currency exchange. The
Company's results may be adversely affected by changes in the
political and social conditions in the PRC and by changes in
governmental policies with respect to laws and regulations,
anti-inflationary measures, currency conversion, remittances
abroad, and rates and methods of taxation. Other potential risks
and uncertainties include but are not limited to the ability to
procure, properly price, retain and successfully complete projects,
and changes in products and competition. Unless otherwise required
by law, the Company also disclaims any obligation to update its
view of any such risks or uncertainties or to announce publicly the
result of any revisions to the forward-looking statements made
here. Readers should review carefully reports or documents the
Company files periodically with the Securities and Exchange
Commission.
Contact:
At the Company:
Michael Toups, Chief Financial
Officer
Tel: U.S. Office +1-727-641-1357
Email: mtoups@longweipetroleum.com
Web: http://www.longweipetroleum.com
Investor Relations:
Mike
Bowdoin
RedChip Companies, Inc.
Tel: +1-800-733-2447, ext. 110
Email: mike@redchip.com
Web: http://www.redchip.com
Tina Xiao
Weitian Group LLC
Tel: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
Web: http://www.weitian-ir.com
SOURCE Longwei Petroleum Investment Holding Ltd.