JINJIANG, China, Sept. 12, 2012 /PRNewswire/ -- China Ceramics
Co., Ltd. (NASDAQ Global Market: CCCL, CCCLW, CCCLU) ("China
Ceramics" or the "Company"), a leading Chinese manufacturer of
ceramic tiles used for exterior siding and for interior flooring
and design in residential and commercial buildings, today announced
that it was experiencing a reduction in its backlog that it
anticipated would result in a decline in revenues in the fourth
quarter of 2012 by approximately 20%-40% from the fourth quarter of
the prior year.
The Company believes that the reduction in its backlog has to do
with a general slowdown in the construction industry in
China, as customers are deferring
orders and/or are waiting to start new projects. Some of the
Company's customers may be delaying projects to see if the
government will adopt new policies to aid the construction
industry.
To mitigate the effects of slowing demand, the Company will
maintain its currently wide range of product offerings and augment
it with new products from its research and development program,
which has the potential to result in products that realize higher
margins.
In addition, the Company plans to expand its distribution
network and heighten its direct sales efforts to large developers.
The Company will continue to focus on Tier II and Tier III cities
where it believes conditions are generally more stable relative to
more volatile Tier I cities.
About China Ceramics Co., Ltd
China Ceramics Co., Ltd. is a leading manufacturer of ceramic
tiles in China. The Company's
ceramic tiles are used for exterior siding, interior flooring, and
design in residential and commercial buildings. China Ceramics'
products, sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the
"TOERTO" and "WULIQIAO" brands, and the "Pottery Capital of Tang
Dynasty" brands, are available in over 2,000 style, color and size
combinations and are distributed through a network of exclusive
distributors as well as directly to large property developers. For
more information, please visit http://www.cceramics.com.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to our
beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors,
which may be beyond our control, and which may cause the actual
results, performance, capital, ownership or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. All statements other than statements of historical fact
are statements that could be forward-looking statements. You can
identify these forward-looking statements through our use of words
such as "may," "will," "anticipate," "assume," "should,"
"indicate," "would," "believe," "contemplate," "expect,"
"estimate," "continue," "plan," "point to," "project," "could,"
"intend," "target" and other similar words and expressions of the
future.
Contact
Information:
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China Ceramics Co.,
Ltd.
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CCG Investor Relations
Inc.
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Edmund Hen, Chief
Financial Officer
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David Rudnick, Account
Manager
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Email:
info@cceramics.com
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Email:
david.rudnick@ccgir.com
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Phone:
+1-646-626-4172
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SOURCE China Ceramics Co., Ltd.