STATEMENT BY U.S. - CHINA INDUSTRIAL EXCHANGE, INC. (CHINDEX)
BETHESDA, MARYLAND - December 23, 1997 - U.S. -CHINA INDUSTRIAL EXCHANGE, INC. (NASDAQ:CHDX), said today that to its knowledge there has been no fundamental change in the Companys operations or prospects which would account for the recent decline in the market price of Chindex Common Stock. The Companys business has taken no negative turns, with sales in capital equipment remaining strong and the new business initiatives such as Beijing United Family Hospital and pharmaceutical distribution plans remaining on target.
Chindex Chairperson, President and CEO Roberta Lipson commented from Beijing, "We believe the downtrend in our shares reflects weakness in market-making, rather than weakness in the Company.
"The economic disruptions occurring in some Asian countries have not impacted China and are not expected to," she added. "In fact, according to the Institute for International Economics, China has been conspicuously absent from this volatility."
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U.S.-China Industrial Exchange, Inc. (Chindex) provides market representation, sales and consulting services in China to a number of multinational and Fortune 500 companies including Volvo Construction Equipment, Ingersoll-Rand, Acuson, Johnson & Johnson and Kendall. With over sixteen years experience, 135 employees, and operations in the United States, China and Hong Kong, the Chindex strategy is to expand its cross-cultural reach by providing leading edge technologies, quality products and services to Greater China's growing professional communities. Chindex is listed on NASDAQ under the ticker symbol CHDX.