EX-99.1
2
v064187_ex99-1.htm
Unassociated Document
EXHIBIT
99.1
CONTACT:
Stanley
Wunderlich, CEO
Consulting
for Strategic Growth I
Tel:
1-800-625-2236
Fax:
212-337-8089
Email:
info@cfsg1.com
FOR
IMMEDIATE RELEASE
HOME
SYSTEM GROUP COMPLETES ACQUISITION OF
MAJOR
HOME APPLIANCES COMPANY
OCEAN
WELL PROFIT, INC.
Acquisition
Will Expand HSYT Product Offerings, Develop Domestic Chinese Market and Increase
R&D Capabilities
LOS
ANGELES, January 31, 2007 - Home System Group (OTCBB:
HSYT),
an
international distributor of home appliance products, announced today it has
completed the acquisition of Holy (H.K.) Limited, a Hong Kong holding company
that owns 100% of Oceanic Well Profit, Inc., China's largest professional grill
manufacturer with annual production capacity valued at US$75 million.
Mr.
Li
Wei Qiu, CEO and Chairman of the Home System Group, said, "We are very pleased
with the prompt completion of this acquisition, first announced in December
2006. Oceanic Well Profit is a distinguished Chinese company with a powerful
Research & Development team that constantly produces new high-quality
products. These products will complement and enhance Home System's current
offerings to both our international markets and the growing domestic markets
in
China. We saw substantial increases in sales of our products to all our markets
during 2006. With this acquisition, we expect to accelerate our growth with
more
high-quality products that address new market demands".
About
Oceanic Well Profit
Oceanic
Well Profit, located in Zhongshan City, Guangdong Province, China, is a
large-scale privately operated enterprise specializing in producing domestic
electronic appliances. The company has a total area of 82.5 acres which includes
a new 864,000-square-foot workshop with advanced equipment and a staff of 1,200
people. It currently has five production lines which produce 450,000 grills,
3
million water pumps, and 2 million sets of tool and hardware cabinets
annually.
In
addition, Oceanic Well Profit has a strong Research & Development department
focused on enhancing the technical quality and cost-efficiency of producing
current products while developing new product lines such as an environmentally
friendly restroom toilet separator, an environmentally friendly range hood
and
an energy efficient BBQ grill.
Other
product lines that Oceanic Well Profit will bring to Home System Group include
a
household soybean milk machine, a patented energy efficient water pump, an
energy efficient dishwasher, tool and hardware cabinets, and a fruit juice
maker.
About
Home System Group
Headquartered
in Hong Kong, China, Home System Group (OTCBB: HSYT), through its wholly owned
distributor Oceanic International (Hong Kong), Ltd. (OCIL) [no
relation to Oceanic Well Profit prior to acquisition],
markets
home appliances including stainless steel gas grills, residential water pumps,
electronic fans, fruit processors, laser printers, and other electrical
appliances to retail outlets in the U.S., Europe and Australia. The Company
became public through a reverse merger and received its stock trading symbol
on
October 4, 2006. The Company has opened a sales and marketing office in Los
Angeles. Please visit the company website at: www.homesystemgroup.com.
#
#
#
Certain
statements in this news release may contain forward-looking information within
the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under
the
Securities Exchange Act of 1934, and are subject to the safe harbor created
by
those rules. All statements, other than statements of fact, included in this
release, including, without limitation, statements regarding potential future
plans and objectives of the companies, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
actual results to differ materially from those in the forward-looking statements
include, among other things, the following: general economic and business
conditions; competition; unexpected changes in technologies and technological
advances; ability to commercialize and manufacture products; results of
experimental studies; research and development activities; changes in, or
failure to comply with, governmental regulations; and the ability to obtain
adequate financing in the future. This information is qualified in its entirety
by cautionary statements and risk factors disclosure contained in certain of
Home System Group Inc.'s Securities and Exchange Commission filings available at
http://www.sec.gov.
Pursuant
to a October 15, 2006 agreement, Consulting For Strategic Growth I, Ltd.
("CFSG1") provides Home System Group ("the Company") with consulting, business
advisory, investor relations, public relations and corporate development
services, for which CFSG1 receives a fixed monthly fee for the duration of
the
agreement. Independent of CFSG1's receipt of cash compensation from the Company,
CFSG1 may choose to purchase the common stock of Home System Group and
thereafter sell those shares at any time it deems appropriate to do so. For
more
information please visit www.cfsg1.com.

EX - 99 . 1 2 v064187 _ ex99 - 1 . htm Un associated Document EXHIBIT 99 . 1 CONTACT : Stanley Wunderlich , CEO Consulting for Strategic Growth I Tel : 1 - 800 - 625 - 2236 Fax : 212 - 337 - 8089 Email : info@cfsg1.com FOR IMMEDIATE RELEASE HOME SYSTEM GROUP COMPLETES ACQUISITION OF MAJOR HOME APPLIANCES COMPANY OCEAN WELL PROFIT , INC . Acquisition Will Expand HSYT Product Offerings , Develop Domestic Chinese Market and Increase R & D Capabilities LOS ANGELES , January 31 , 2007 - Home System Group ( OTCBB : HSYT ) , an international distributor of home appliance products , announced today it has completed the acquisition of Holy ( H . K . ) Limited , a Hong Kong holding company that owns 100 % of Oceanic Well Profit , Inc . , China 's largest professional grill manufacturer with annual production capacity valued at US$ 75 million . Mr . Li Wei Qiu , CEO and Chairman of the Home System Group , said , " We are very pleased with the prompt completion of this acquisition , first announced in December 2006 . Oceanic Well Profit is a distinguished Chinese company with a powerful Research & Development team that constantly produces new high - quality products . These products will complement and enhance Home System ' s current offerings to both our international markets and the growing domestic markets in China . We saw substantial increases in sales of our products to all our markets during 2006 . With this acquisition , we expect to accelerate our growth with more high - quality products that address new market demands " . About Oceanic Well Profit Oceanic Well Profit , located in Zhongshan City , Guangdong Province , China , is a large - scale privately operated enterprise specializing in producing domestic electronic appliances . The company has a total area of 82.5 acres which includes a new 864,000 - square - foot workshop with advanced equipment and a staff of 1,200 people . It currently has five production lines which produce 450,000 grills , 3 million water pumps , and 2 million sets of tool and hardware cabinets annually . In addition , Oceanic Well Profit has a strong Research & Development department focused on enhancing the technical quality and cost - efficiency of producing current products while developing new product lines such as an environmentally friendly restroom toilet separator , an environmentally friendly range hood and an energy efficient BBQ grill . Other product lines that Oceanic Well Profit will bring to Home System Group include a household soybean milk machine , a patented energy efficient water pump , an energy efficient dishwasher , tool and hardware cabinets , and a fruit juice maker . About Home System Group Headquartered in Hong Kong , China , Home System Group ( OTCBB : HSYT ) , through its wholly owned distributor Oceanic International ( Hong Kong ) , Ltd . ( OCIL ) [ no relation to Oceanic Well Profit prior to acquisition ] , markets home appliances including stainless steel gas grills , residential water pumps , electronic fans , fruit processors , laser printers , and other electrical appliances to retail outlets in the U . S . , Europe and Australia . The Company became public through a reverse merger and received its stock trading symbol on October 4 , 2006 . The Company has opened a sales and marketing office in Los Angeles . Please visit the company website at : www.homesystemgroup.com . # # # Certain statements in this news release may contain forward - looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b - 6 under the Securities Exchange Act of 1934 , and are subject to the safe harbor created by those rules . All statements , other than statements of fact , included in this release , including , without limitation , statements regarding potential future plans and objectives of the companies , are forward - looking statements that involve risks and uncertainties . There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements . Factors that could cause actual results to differ materially from those in the forward - looking statements include , among other things , the following : general economic and business conditions ; competition ; unexpected changes in technologies and technological advances ; ability to commercialize and manufacture products ; results of experimental studies ; research and development activities ; changes in , or failure to comply with , governmental regulations ; and the ability to obtain adequate financing in the future . This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Home System Group Inc . 's Securities and Exchange Commission filings available at http://www.sec.gov . Pursuant to a October 15 , 2006 agreement , Consulting For Strategic Growth I , Ltd . ( " CFSG1 " ) provides Home System Group ( " the Company " ) with consulting , business advisory , investor relations , public relations and corporate development services , for which CFSG1 receives a fixed monthly fee for the duration of the agreement . Independent of CFSG1 's receipt of cash compensation from the Company , CFSG1 may choose to purchase the common stock of Home System Group and thereafter sell those shares at any time it deems appropriate to do so . For more information please visit www.cfsg1.com .