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Oct. 10, 2012 /PRNewswire-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in
the People's Republic of China ("PRC"), today announced that its Chief Financial Officer,
Michael Toups, will present at the RedChip 15th Annual Fall Small-Cap Conference on
October 11, 2012 at the Palace Hotel in
Mr. Toups is scheduled to present at
3:55 p.m. local time. To schedule a one-on-one meeting with Longwei during the conference, contact
Jon Cunningham at (407) 644-4256, ext. 107, or email
For more information about the RedChip 15th Annual Fall Small-Cap Conference, please visit
RedChip released its research update on Longwei on
October 4, 2012 with a "Strong Buy" rating and target price of
$5.16 per share. A copy of the report can be found on the RedChip website at
http://redchip.com/visibility/investor.asp?symbol=LPH. The report cites Longwei's closing of the Huajie Petroleum acquisition; strong, stable financial results; and simple and straightforward business trading at a very attractive valuation, among the catalysts for potential stock price appreciation.
About Longwei Petroleum Investment Holding Limited
Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in
the People's Republic of China. The Company's oil and gas operations consist of transporting, storing and selling finished petroleum products, entirely in the PRC. The Company's headquarters are located in Taiyuan City,
Shanxi Province. The Company has a storage capacity for its products of 220,000 metric tons located at three storage facilities within
Shanxi: Taiyuan, Gujiao and Huajie, which have an individual storage capacity of approximately 50,000 metric tons ("mt"), 70,000mt, and 100,000mt, respectively. The Company has the necessary licenses to operate and sell petroleum products not only in
Shanxi, but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in
The Company seeks to earn profits by selling its products at competitive prices with timely delivery to transportation companies, coal mining operations, power supply customers, large-scale gas stations and small, independent gas stations. The Company also earns revenue from agency fees by acting as a purchasing agent for other intermediaries in
Shanxi, and through limited sales of diesel and gasoline at two retail gas stations, each located at the Company's Taiyuan and Gujiao facilities. The Company seeks to continue to expand its customer base and distribution platform through the utilization of its large storage capacity, which allows the Company the flexibility to take advantage of pricing, supply and demand fluctuations in the marketplace.
Longwei was recently named to the
Forbes list of "
Asia's 200 Best Under a Billion" from a universe of 15,000 companies.
Forbes ranked the companies based on sales growth, earnings growth and return on equity in the past 12 months and over three years. As was reported, Longwei's three-year track record is 45% sales growth, 28% earnings per share growth and 28% return on equity. The
Forbes article can be found at:
For further information on Longwei Petroleum Investment Holding Limited, please visit
http://www.longweipetroleum.com. You may register to receive Longwei Petroleum Investment Holding Limited's future press releases or request to be added to the Company's distribution list by contacting
Dave Gentry at
Forward-Looking StatementsCertain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Longwei's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Longwei's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.Contact: At the Company:Michael Toups, Chief Financial OfficerTel: U.S. Office +1 727-641-1357Email: