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Shanghai Medical Technology Co., First Quarter 2008 Financial Results

Net Sales Increase 28.3% to $10.2 Million with Gross Margins of 36.6%; Net

Income Increases 13.7% to $1.9 Million

SHANGHAI, China, June 19 /Xinhua-PRNewswire-FirstCall/ -- Aamaxan Transport Group, Inc. (the "Company" or "ATG") (OTC Bulletin Board: AAXT), through its subsidiaries, including Shanghai Medical Technology Co., Ltd. ("Shanghai Medical"), a PRC company and a leading provider of Hemodialysis equipment ("HDE") and other related supplies and services, including disposable and diagnostic products, throughout Eastern China, reported its un- audited financial results for the first quarter of 2008 which ended March 31, 2008.

First Quarter 2008 Results

Q1 2008 Q1 2007 vs. Q1 2007

Revenue $10.2 million $7.9 million +28.3%

Gross Profit $3.7 million $3.0 million +21.6%

Net Income $1.9 million $1.7 million +13.7%

EPS (Fully Diluted) $0.13 $0.12 +8.3%

Recent Company Highlights

-- In 2007, Shanghai Medical distributed approximately 25% of the HD

products and supplies in the PRC and is one of the largest single

distributors of HD equipment and supplies in the PRC.

-- In April 2008, the Company completed a private placement with

institutional and accredited investors which resulted in gross

proceeds to the Company of approximately $12.5 million.

-- Shanghai Medical utilizes over 20 distributors to reach Eastern

China and has strategically partnered with the largest global

provider of blood dialysis and diagnostic equipment, to ensure that

it meets the growing demand for Chinese dialysis products.

First Quarter of 2008 Results (Unaudited):

Net revenues for the first quarter of 2008 increased 28.3% to $10.2 million compared to $7.9 million

SOURCE HC International, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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