Chinese Household Appliance Magnates Create Internet Joint

Business Editors/High Tech Writers  
BEIJING, China--(BUSINESS WIRE)--June 14, 2000--Intermost 
Corporation (OTCBB: IMOT). In the middle of May, 2000 an e-commerce 
based alliance was formed between Guangdong Midea Group, Sun Hung Kai 
Properties Ltd, Shenzhen HuaQiang Group, Intermost Corporation Ltd. 
and two of other Chinese large appliance manufacturers. The joint 
venture is Shenzhen E-commerce Ltd, a company that will soon 
have an annual turnover above 100,000,000,000 RMB, and will engage in 
the establishment of Chinese first household appliance manufacturer's 
B2B procurement platform.  
According to's CEO, Mr. Jun Liang, "As a joint exchange 
platform, will have more competitive advantages than 
separately launched platform by individual manufacturer." Mr. Liang 
cited the alliance of the American "Big Three" automobile magnates to 
support the idea that an individual manufacture cannot stand alone to 
monopolize the Internet-based procurement market by itself. He 
believes that due to large industry scale, the presence of only a few, 
highly concentrated brand names, Chinese household appliance 
manufacturers are ready to conduct its e-commercialization, much more 
so than other Chinese industries. Additionally, the home appliance 
industry is achieving maturity in market operation, and is playing a 
more and more important role in international markets. Being supported 
by such a powerful industrial alliance, will be well 
positioned in terms of mutual compatibility among the players.  
Mr. Liang also points out that the value of e-commerce is evident. 
This initiative benefits manufactures, suppliers, and the industry as 
a whole. In the case of manufactures, by conducting on-line purchasing 
through the exchange platform provided by, the increased 
efficiency of large scale purchasing, will result in a 5-10% 
procurement cost savings within two years. For suppliers,'s 
exchange platform will provide an equal opportunity for competition 
and eliminate under-table deals. For the whole industry, the exchange 
platform will enhance its competitiveness in international markets.  
Mr. Liang believes the combination of's operating 
mechanism characterized by buyer dominance, and its strategy of 
capital linkage are key to the success of the alliance. Under the 
operating mechanism, allied manufacturers will achieve the full 
benefits of scale with large on-line purchasing. thus makes 
itself an attractive business partner to suppliers and manufacturers. 
And to establish Capital linkage, will act as an independent 
third party whose equity and partnership will be equally and widely 
open to Chinese household appliance manufactures. Through this capital 
linkage, all the allied manufacturers will create a sense of 
belonging, and jointly build up a truly beneficial exchange community.  
Source:  Nanfang Daily  
Note: translated from Chinese text from an article originally 
published May 24, 2000  
About Intermost  
Intermost is a China-based Internet technology company, focused on 
the development and delivery of scalable business-to-business 
e-commerce solutions. The Company promotes its name and products via 
its B2B portal, The Company also develops and markets an 
electronic payment system that allows for both telephone and online 
payment of consumer-oriented monthly bills, and markets broad-based 
procurement platforms for the Chinese home appliance industry.  
The Private Securities Litigation Reform Act of 1995 provides a 
"safe harbor" for forward-looking statements. Certain information 
included in this press release (as well as information included in 
oral statements and other written statements made or to be made by 
Intermost) contains statements that are forward-looking, such as 
statements relating to the consummation of transactions, anticipated 
future revenues of the companies and success of current product 
offerings. Such forward-looking information involves important risks 
and uncertainties that could significantly affect anticipated results 
in the future, and accordingly, such results may differ materially 
from those expressed in any forward-looking statements made by or on 
behalf of Intermost.  
Investor information can be found on the web at: 
Press spacebar to pause and continue. Press esc to stop.