China Food Services, Corp. Announces Results for Second Quarter 2010

BEIJING, Aug. 5 /PRNewswire-FirstCall/ -- China Food Services, Corp., (Other OTC: GDHI) http://www.chinafoodservices.com an international food and beverage distributor specializing in the distribution of US and international food & beverage brands to the Chinese market, reported today that net sales for the 2nd quarter of 2010 were $50,906USD, up 150% from the 1st quarter of 2010 and for the comparative 2009, no net sales were generated during that period.  The total inventory for this period was $246,834USD as compared to $40,944USD for the period in 2009, an increase of 600%. The total Property, Plant and Equipment for this period were $117,316USD as compared to $83,953USD for the same period 2009.  General and administrative expenses for this period were $114,597USD as compared to $28,915USD for the same period 2009, an increase of 395%. The Company's total assets for this period were $601,422USD as compared to $176,352USD for the same period 2009, an increase of 340%.

Copies of the 2nd quarter 2010 financials can be found on the following links:

https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=34607

http://www.chinafoodservices.com/Documents/2Q-2010.pdf

Mr. Frank J. Yglesias, CEO, stated, "We continue to increase our sales, our customer base and our product portfolio quarter by quarter; we will not lose sight of our goals and commitments to our shareholders."

Frank Yglesias continued, "In the words of a man I respect and admire highly, I leave us with this;

'Football is a great deal like life in that it teaches that work, sacrifice, perseverance, competitive drive, selflessness and respect for authority is the price that each and every one of us must pay to achieve any goal that is worthwhile.'" Vince Lombardi

About China Food Services, Corp.

China Food Services, Corp. owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. in central Hong Kong and Beijing Jin Long Fei International Trading Co., Ltd in China.  China Food Services, Corp. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for its Hong Kong subsidiary, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Jin Long Fei International Trading Co., Ltd distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.

Safe Harbor Statement

Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.

SOURCE China Food Services, Corp.