HUIZHOU, Guangdong, China, Dec. 21 /PRNewswire-Asia/ -- NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company's Chairman of the Board and Chief Executive Officer, Mr. Tianfu Li, was honored with a "Brand China People of the Year 2009" award from the Brand China Industry Union on December 19th, 2009.
Each year, ten award winners are carefully selected from both private and public domestic Chinese companies. Nominees and winners are chosen through a competitive combination of public voting and a selection committee that evaluates individuals based on their contribution to the promotion of the development of Chinese brands and the influence of those brands both domestically and internationally in 2009.
The theme for the 2009 awards was, "In 2009, who wins respect for China?," and it aimed to celebrate the achievements and contributions made by individuals in promoting Chinese brands across the world. Other award recipients for 2009 included Kaifu Lee, founder of Innovation Works and former President of Google China, Shufu Li, Chairman of Geely Holding Group, Zhou Xin, Chairman and CEO of E-house China, Zhengdong Zhu, Chairman and CEO of China Distance Education Holdings Limited, among others.
Mr. Tianfu Li, Chairman and CEO of NIVS, commented, "I am greatly honored to be recognized by the Brand China Industry Union as one of the 'Brand China People of the Year 2009,' which is not only a recognition of my own work, but of the achievements of our entire NIVS team. The main criteria for the recognition of this award are responsibility, power, influence, vision and impetus. In particular, because of our entire NIVS team's diligent work, our company has successfully gone public and became the first Chinese company in 2009 to be listed in the main board of U.S. stock market despite of the challenging economic environment. Moreover, during this year, NIVS has not only strengthened our competitive advantage in audio and lighting industry, but also leveraged our technical strengths and expanded our brand influence by entering into other verticals such as TV, computer and 3G mobile phones. All of these factors contributed to our winning the award. We feel this award also validates our proactive efforts to spread the value of the Chinese consumer electronic band both domestically and overseas and demonstrates our significant progress in becoming a household brand name in China. We continue to be confident that with our strong brand awareness and competitive products, NIVS will continue to grow our business and ultimately create more value to reward our shareholders."
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. Ranked 43rd on Forbes' Top 100 Chinese Research and Development Companies, NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's reliance on its major customers for a large portion of its net sales; the Company's ability to develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to collect aging trade receivables and the effect of a growing doubtful account allowance; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; changes in the laws of the PRC that affect the Company's operations; development of a public trading market for the Company's securities; and the cost of complying with current and future governmental regulations and the impact of any changes in the regulations on the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Jason Wong
Vice President Investor Relations
Tel: +86-138-299-16919
Email: jason@nivsgroup.com
Investor Contact:
ICR
Michael Tieu
Tel: +86-10-6599-7960
Email: michael.tieu@icrinc.com
In the U.S.:
Brian M. Prenoveau, CFA
Tel: +1-203-682-8200
Email: brian.prenoveau@icrinc.com
