American Jianye Greentech Holdings Ltd. Reports Financial Results for the Twelve-Month Period Ended December 31, 2009 - Record Revenues Reach $9.7 Million

NEW YORK, April 1 /PRNewswire-FirstCall/ -- American Jianye Greentech Holdings Ltd. (OTC Bulletin Board: AJGH.OB) (the "Company") is engaged in the business of marketing and distributing alcohol-based automobile fuel products in the Peoples Republic of China, which are manufactured by our affiliate Zhao Dong Jianye Fuel Co., Ltd. ("Zhao Dong"). Today the Company announced that it had filed its Annual Report on Form 10-K where it reported revenues for the year ended December 31, 2009, were $9,740,392 derived solely from the distribution of methanol-based and ethanol-based fuels.  American Jianye Greentech Holdings' primary business is to distribute ethanol and methanol as alternative fuel for automobile use.

"We are very pleased with our results from the 2009 fiscal year, particularly since we only commenced operations in September," stated Haipeng Wang, President of American Jianye Greentech Holdings.  "Alcohol fuel is an attractive alternative to gasoline for several reasons, including its environmental benefits. Our goal is to begin manufacturing these types of alternative fuel products in our own facility which we plan to sell into the local and regional Chinese markets.

"The Company has developed a patented processing method to produce Methanol automobile fuel under normal atmospheric conditions and temperatures, as well as at temperatures as low as -30 degrees (-22 degrees Fahrenheit).  The Company's refining process produces no significant amount of hazardous waste or pollution.  These qualities, which are superior to those of lead-free gasoline fuel, have been certified by a team of experts organized by the Heilongjiang Province Science & Technology Department."  Wang commented, "The Company intends to construct its own refinery that will use this process to produce these types of alternative fuels and, upon its completion, this facility will have the capacity to produce 200,000 tons of blended fuels each year, yielding approximately $100 net per ton. Our goal is to have this facility fully operational by the middle of this year."

Results for the twelve-month period ended December 31, 2009:

• In the year ended December 31, 2009, we derived our first revenue- $9,740,392 from the sales of methanol-based and ethanol-based fuels to two customers. These two customers are unrelated third parties, and the transactions were the result of arms length negotiations.  
• Our gross profit margin during the year ended December 31, 2009, was 13.8%. This figure represents our regular gross profit margin as a marketing company and distributor. We expect our gross profit margin to be significantly higher when our own refinery is built and producing our own fuels in the future. The plan for building our refinery is under way.
• Income from operations for the year ended December 31, 2009 was $1,257,789, and net income after income taxes for the same period was $943,342.
• Selling, general and administrative expenses for the year ended December 31, 2009, were $90,622 or 1% of net sales. Selling, general and administrative expenses consist primarily of payroll, storage cost and bad debt expense.

A full analysis of results for the period ended December 31, 2009, is available in the Company's Form 10-K, which is available on the Company's website at http://americanjianyegroup.com, or through the Securities and Exchange Commission's Edgar database.  

About American Jianye Greentech Holdings Ltd.: American Jianye Greentech Holdings Ltd. is an alternative fuel company that develops, manufactures, and distributes alcohol-based automobile fuel products in the People's Republic of China. The Company's products are designed to function as a lower-cost, more environmentally friendly alternative to conventional gasoline-based auto fuel. For more information about AJGH, please visit http://americanjianyegroup.com.

Forward looking statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by American Jianye Greentech Holdings Ltd., are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company with the United States Securities and Exchange Commission and other regulatory authorities.

SOURCE American Jianye Greentech Holdings Ltd.