N※N

GHN Agrispan Issues Revenue and Earnings Guidance

  //business-finance.news-articles.net/content/201 .. rispan-issues-revenue-and-earnings-guidance.html
  Published in Business and Finance on Thursday, July 29th 2010 at 5:12 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

XIAMEN, China--([ BUSINESS WIRE ])--GHN Agrispan Holding Company (OTCBB: GHNA), an emerging company engaged in Chinaa™s high-growth agriculture, prepared foods and catering industries, today announced revenue and earnings guidance for the Fiscal Year ending December 31, 2010. Based on a review of the Companya™s operations and market conditions in the various segments in which it operates, the Company expects that revenue and net income results for the Company will exceed all previous results by a significant margin.

"We remain unequivocal in our commitment to driving revenue and earnings growth"

Projected Guidance for FY 2010:

• FY 2010 projected revenue of $37 million (vs. revenue of $27 million FY 2009 on a pro forma basis*, or $11.0 million as previously reported), equating to a pro forma 37% year-over-year revenue increase.
• FY 2010 projected net income of $5.7 million (vs. $4.9 million FY 2009), equating to an approximate 16% year-over-year net income increase.
• EPS of approximately $0.14 based on 40.52 million basic shares outstanding.

*In FY 2010, GHN Agrispan changed its method of revenue recognition from a "net" basis to a "gross" basis as a result of GHN Agrispan making direct sales to certain of its existing customers in lieu of selling through independent distributors. The FY 2009 pro forma revenue of $27 million represents an adjustment to the previously reported $11.0 million figure to allow for a more accurate year-over-year comparison.

"We remain unequivocal in our commitment to driving revenue and earnings growth,a said Ms. Xu Yizhen, CEO of GHN Agrispan. aOur proven business model, which focuses on the high-growth areas of Chinaa™s thriving agriculture, prepared foods, and catering industries are validated by our first quarter 2010 results during our historically slow period as well as current and forecasted top line and bottom line numbers. We believe our proactive business model will serve to drive revenues, earnings and, ultimately, shareholder value.a

GHN Agrispan recently became a US publicly listed company in early 2010 and is set to achieve record levels of revenue and earnings due to its corporate growth initiatives and sophisticated knowledge of Chinaa™s agriculture industry. The company is committed to establishing itself as a leading purveyor of healthy foods and renowned catering services throughout Chinaa™s cities and rural areas. GHN Agrispan currently sells quality products and services with a strong emphasis on food safety to target clients, including US Fortune 500 companies, European multinational firms, as well as established Chinese private enterprises and government institutions. The company is positioned to capitalize on the rapidly-growing Chinese consumer demand, which is anticipated to continue despite the current economic downturn worldwide.

About GHN Agrispan Holding Company

Based in Xiamen City, China, GHN Agrispan Holding Company (OTCBB: GHNA) is an emerging Chinese operating company engaged in the high-growth agriculture, prepared foods and catering industries in China. GHN Agrispan has positioned itself to capitalize on Chinaa™s burgeoning middle class through an increasing desire for healthy food products that are free of toxins and pollutants, as well as the Chinaa™s booming catering industry, which is currently experiencing growth in the double digits. GHN Agrispana™s catering group is recognized as one of the most reputable catering services in Xiamen. The company places a strong emphasis on food safety, selling its premium products and services to target clients including: US Fortune 500 companies, European multi-national firms, as well as established Chinese private enterprises and government institutions such as banks and schools. In addition, the output from the GHN Agrispana™s fresh fruit, vegetables and other planting bases is purchased by major national supermarkets and first-tier wholesalers in developed cities throughout China.

For more information please visit the website for GHN Agrispana™s wholly-owned subsidiary, Yidong Group: [ www.ghnagrispan.com/en ]

Forward-Looking Statements

This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that can affect GHN Agrispana™s operating results, liquidity and financial condition or otherwise cause GHN Agrispana™s actual results to differ materially from those forecasted. Such factors include risks associated with economic, weather, public health and other factors affecting consumer spending, including negative changes to consumer confidence and other recessionary pressures, higher energy and labor costs, the successful implementation of GHN Agrispana™s growth strategy, including the ability of GHN Agrispan to finance its expansion plans and the mix and pricing of goods sold. The identified risk factors and other factors and risks that may affect GHN Agrispana™s business or future financial results are detailed in its filings with the Securities and Exchange Commission. These cautionary statements qualify all of the forward-looking statements GHN Agrispan makes herein. GHN Agrispan cannot assure you that the results or developments anticipated by it will be realized or, even if substantially realized, that those results or developments will result in the expected consequences for it or affect it, its business or its operations in the way it expects. GHN Agrispan cautions you not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. GHN Agrispan does not undertake an obligation to update or revise any forward-looking statements to reflect actual results or changes in the GHN Agrispana™s assumptions, estimates or projections.