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July 17, 2014

Symax Lift (Holding) Co. Ltd. Wins 12 New Contracts Worth $11 Million

TORONTO, ONTARIO--(Marketwired–July 17, 2014) -Symax Lift (Holdings) Co. Ltd. (TSX VENTURE:SYL) ("Symax" or the "Company"), a developer and manufacturer of elevators, escalators and chairlifts with a manufacturing base in China, is pleased to announce that during the second quarter of 2014 it concluded twelve new contracts to  supply, install and service Dingtai and Green elevators.

The twelve contracts represent approximately $11 million in revenues and deliveries have commenced in May 2014. All deliveries under the contracts are expected to be completed by the end of this year. The geographic distribution of these contracts is diversified across several provinces including Hebei, Henan, Liaoning, Jiangsu, Heilongjiang, Hainan, Shanxi and Anhui.

"Following the $8 million in sales orders realized in the first quarter, we are pleased with this level of sales achieved in the second quarter", stated Ms. Sabrina Zhang, CEO of Symax. “With the strong sales in the first half of 2014, we are optimistic about the sales performance for the whole year of 2014.”