Resort Savers Reports 2016 Financial Forecasts of 51% Wholly-Owned Subsidiary, Beijing Yandong Tieshan Oil Products Co., Ltd.
(firmenpresse) - SHENZHEN, CHINA -- (Marketwired) -- 04/12/16 -- Resort Savers, Inc. (OTCQB: RSSV) (the "Company"), a strategic investment and development company, today reported the 2016 financial forecasts for its recently acquired Beijing Yandong Tieshan Oil Products Co., Ltd., a corporation organized under the laws of the People''s Republic of China ("BYTOC"), and a 51% owned subsidiary of the Company''s wholly-owned subsidiary, Xing Rui International Investments Holding Group Co., Ltd., a Seychelles corporation. Resort Savers entered into and closed an Exchange Agreement to acquire 51% interest in BYTOC on January 29th.
International crude oil prices have continued to drift lower, and oil product sales hit a month low in March 2016. However, sales estimates for domestic oil and the products for the next few months remain optimistic.
BYTOC expects April 2016 sales volume of finished oil products to increase to 6,500 tons, up by almost 6,000 tons as compared to the previous month; revenue to reach RMB$40 million, an increase of 1800%, and profit to come in at RMB$2.8 million.
BYTOC expects to sell out of its total finished oil products and achieve sales volume of 8,000 tons, projected revenue of RMB $50 million, and profits of RMB$3.5 million in May 2016. In accordance with the contract requirements, for full year 2016, Resort Savers expects BYTOC to achieve sales revenue of RMB$600 million and profit of RMB$42 million.
More details on the Share Exchange are available in the Company''s filings with the Securities and Exchange Commission, which may be accessed here: .
Resort Savers, Inc. is a strategic acquisition and development company focused on identifying and acquiring high demand, revenue-generating assets. The Company is currently developing and investing in the oil and gas industry and real estate development. For more information on Resort Savers, Inc. please visit
Except for the historical matters contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company''s expectations with regard to the future impact on the Company''s results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. This release should be read in conjunction with Resort Savers'' Annual Report on Form 10-K and its other filings with the U.S Securities and Exchange Commission through the date of this release, which identifies important factors that could affect the forward-looking statements in this release.
Contact:
Resort Savers, Inc.
Rex Cheung
+1 (754) 800-4429
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Datum: 12.04.2016 - 09:04 Uhr
Sprache: Deutsch
News-ID 1427574
Anzahl Zeichen: 2242
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Alternative Energy
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