MONTREAL, Aug. 14, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — Wuhan General Group (China), Inc./ SDT Holdings, Inc. (OTC PINK: WUHN) (the “Company”), an industrial technology company focused on creating industrial batteries and electric equipment for the mining, construction and agricultural industries announced today that for the period ended June 30, 2018, gross revenue from its consulting services division increased 140 percent as compared to the same period in the previous year. Gross revenue for the period ended June 30, 2018 was $154,000 as compared to $64,000 for the same period in the previous year. In addition, the company has begun to see positive cash flow in the second quarter of 2018.
“Our consulting-services team achieved a strong six months characterized by solid revenue growth and major core development, while navigating this challenging phase of going public,” said CEO Ramy Kamaneh.
Mr. Kamaneh continued, “As many industries move away from gas and diesel power and adopt electric vehicles and other equipment, we expect to see a pattern of high double digit revenue growth going forward. Our deep understanding of the specifications for these industrial batteries along with the in-field operations of various industries allows us to have a competitive advantage when we are asked to provide a solution for some of North America’s largest companies.”
About SDT Holdings, Inc.
SDT Holdings, Inc. is a Nevada corporation engaged in the research, development and manufacturing of industrial battery technologies and electric Material handling equipment (eMHE) to assist the mining, construction and agricultural industries in eliminating greenhouse gas (GHG) emissions by moving from diesel power to a battery-powered energy source. SDT’s deep understanding of battery chemistry and the in-field operations for industries such as the underground mining industry, gives it a competitive advantage to become a leader in the development of this space as well as in assisting these industries in their adoption to battery powered material handling equipment.
By complementing its industrial batteries and eMHE with predictive maintenance using artificial intelligence and hardware (Internet of things), SDT can effectively manage and coordinate a full-scale battery-powered operation and charging infrastructure 24-7 at some of the most remote locations in the world.
SDT Holdings, Inc. is also exploring the research and application of blockchain technologies to the mining, agriculture and construction industries.
For further information contact:
Contact: Bruce Haase – Public Relations
Phone: (514) 928-7368 Ext 6
Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.
Source: Wuhan General Group (China), Inc