October 7, 2008
Rodobo Successfully Completes Its RTO
HARBIN, China, Oct. 7 /Xinhua-PRNewswire-FirstCall/ -- Harbin Rodobo Dairy Co., Ltd. ("Rodobo"), one of the largest private dairy companies in China, announces today that on September 30, 2008 it went public through a reverse merger by merging its holding company, Mega Profit Limited, a Cayman Islands Corporation, into Navstar Media Holdings, Inc. (BULLETIN BOARD: NVMH) , a Nevada corporation. After the transaction, Rodobo has changed its corporate name to Rodobo International Inc.
Headquartered in Harbin, Heilongjiang Province, Rodobo is one of the largest private companies in the fast growing dairy industry in China. It currently operates a production facility with milk processing capacity of 200 tons per day in Qinggang County in Northeast China, producing high-quality dairy based nutritional products for infants, children, pregnant women, nursing mothers and other adults.
"We are very pleased to become a public company in the United States. This will bring us tremendous opportunities to tap into U.S. capital markets and accelerate our expansion as we strive to become a leader in the dairy industry in China and maximize the interests of our shareholders," said Yanbin Wang, Chairman and CEO of the Company. Founded in 2002, Rodobo has a track record of high profitability. In its fiscal year ended September 30, 2007, the Company achieved $12.8 million in revenues and $2.6 million in net income. In the 9 months ended June 30, 2008, the Company recorded $16.1 million in revenues and $2.9 million in net income. After going public, the Company plans to expand rapidly through raw milk resource development, acquisition, new production introduction and sales network expansion in the next three years. Rodobo retains the highest standard in quality and food safety control. Its facility has passed the ISO9001 and Hazard Analysis and Critical Control Points ("HACCP") series qualifications. In the recent tests conducted nationwide by the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), no trail of contamination was found in Rodobo products.
"Rodobo's current and future market focus is the infant/baby segment of the dairy industry, which has a double-digit annual growth rate during the past few years," said Yanbing Wang, Chairman and CEO of the Company. "China's dairy industry is facing robust demand but with limited supply of raw materials (raw milk resource). By being strategically located among China's famous grasslands and having plentiful raw milk resources, Rodobo presents a logically feasible and prudent plan to obtain and secure additional raw milk resources within the proximity of its own facilities."
The information contained herein includes forward-looking statements. These statements are pertinent to future events and financial performance. Actual results, level of activity and performance may vary due to existing and hidden risk and uncertainties. You should not place undue reliance on the forward-looking statements as they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events is subject to these risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
For more information, please contact: Xiuzhen Qiao Tel: +86-451-8226-5922 Email: [email protected]
Rodobo International Inc.
CONTACT: Xiuzhen Qiao at +86-451-8226-5922 or [email protected]