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SEATTLE, Aug. 19 /PRNewswire-FirstCall/ -- L&L International Holdings,
Inc. (OTC Bulletin Board: LLFH) ("L&L" or "the Company"), a leading U.S.
company focused on Chinese coal, today announces its 12 months financial
results ended on 4/30/2008.
Fiscal Year 4/30/2008 Highlights:
-- Revenue climbed to $32 million, up 68.8 percent from 2007
-- Gross profit was $4.5 million, up 17.7 percent from 2007
-- Net income rose 17.2 percent to $1.5 million
-- See the SEC filing for complete audited financial statements
Recent Events:
-- Acquired two profitable coal mines in Yunnan Province, effective in
May 2008.
-- Began trading in the US with opening price of $2.50 on OTC Bulletin
Board in August 2008.
-- In process to engage in a bio-fuel green energy operation to produce
clean energy, and help to improve air quality in China.
"For the past 12 months ended in 4/2008, we achieved strong growth of our
coal operations," commented Mr. Paul Lee, Chairman of L&L. "Revenue and net
income rose significantly, although net income grew slower due to rising costs
of coal wholesale business in China. We expect profitability to improve
significantly with the 2 new mines, adding approx. 300,000 tons of additional
coal sales." Detailed financial statements are available on Form 10-K filed
with the S EC.
Business Outlook
China lacks petroleum, thus approx 71 percent of China's energy comes from
coal. China's coal supply cannot meet demand, therefore coal prices have
increased in recent years. L&L has been expanding its energy business in China
and acquired 60 percent equity of two operating coal mines in Yunnan Province,
the DaPuAn mine and SuTsong mine in May 2008, so that the Company would reach
estimated $60 million of sales, and $8 million profit for 12 months year end
4/2009. L&L plans to acquire additional profitable energy entities and to
become involved in bio-fuel operation in China. In addition, the Company is
developing strategic relationships with large Japanese coal trading firms, to
learn Japanese high quality standards to improve mines efficiency.
About L&L International Holdings, Inc.
Founded in 1995, L&L focused on coal in China. L&L, located in Seattle, is
operated by a Chinese American team who has been doing business in China for
13 years. Please visit http://www.lnlinternational.com.
Forward-Looking Statements
This press release contains certain statements that may include
'forward-looking statements' within the meaning of federal securities laws.
Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve assumptions, risks
and uncertainties, and these expectations may prove to be incorrect. The
Company's actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of factors. Other
than as required under the securities laws, the Company does not assume a duty
to update these forward-looking statements.
SOURCE L&L International Holdings, Inc.
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