ZHENGZHOU, China, Jan. 5 /PRNewswire-Asia/ -- ZST Digital Networks, Inc. ("ZST" or the "Company") (Nasdaq: ZSTN), a major developer, manufacturer and supplier of digital and optical network equipment to cable system operators in China, today announced that it has been designated a Key Enterprise by the Zhengzhou Municipal People's Government, primarily in recognition of the Company's successful recent listing on the NASDAQ Global Market. Under the terms of the official designation, ZST received a grant of RMB2.6 million (approximately US$0.4 million) from the Zhengzhou Municipal People's Government.
Mr. Bo Zhong, Chairman and Chief Executive Officer of ZST, commented, "It is a true honor to receive this designation, and to be one of the select few enterprises in Zhengzhou City to be awarded Key Enterprise status. We are especially grateful to the Zhengzhou Municipal People's Government for their generous grant, which will enhance our reputation and help to subsidize our advanced research and development efforts. We thank our city government for its recognition and support as we continue to focus on executing our strategy for growth within the rapidly expanding markets for digital and optical network equipment and GPS devices in China."
About ZST Digital Networks, Inc.
ZST Digital Networks, Inc. (Nasdaq: ZSTN) is a China-based company, principally engaged in supplying digital and optical network equipment and providing installation services to cable system operators in China. The Company has developed a line of IPTV devices that are used to provide bundled cable television, Internet and telephone services to residential and commercial customers. The Company has assisted in the installation and construction of over 400 local cable networks in more than 90 municipal districts, counties, townships, and enterprises. For more information about ZST Digital Networks, Inc., please visit http://www.shenyangkeji.com .
Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including our ability to maintain and increase revenues and sales of our products; our ability to develop and market new products; our strategic investments and acquisitions; compliances and changes in the laws of the People's Republic of China (the "PRC") that affect our operations; our ability to obtain all necessary government certifications and/or licenses to conduct our business; vulnerability of our business to general economic downturn, especially in the PRC; adverse capital and credit market conditions and our ability to meet liquidity needs; our agreement with Xing Yang Security, which may not result in the expected benefits since the agreement is subject to terms and conditions; and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
