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china premium lifestyle ente (CPLY) Key Developments

China Premium Lifestyle Enterprise, Inc. Announces Resignation of Richard Man Fai LEE as Chief Executive Officer and President

Auto Italia Holdings Limited announced that pursuant to the Share Transfer Agreement, Dr. Richard Man Fai LEE will resign as an Executive Director, the Executive Chairman and the Chief Executive Officer of the company and as the chief executive officer and the president of China Premium Lifestyle Enterprise, Inc., immediately after completion of the Share Transfer.

China Premium Lifestyle Enterprise Files Form 15

China Premium Lifestyle Enterprise, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock, $0.005 par value under the Securities Exchange Act of 1934, as amended.

China Premium Lifestyle Enterprise, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012

China Premium Lifestyle Enterprise, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported net sales of $49,273,017 against $46,577,743 a year ago. Operating earnings was $338,803 against operating loss of $1,130,452 a year ago. Loss before income taxes was $43,409 against $1,167,775 a year ago. Net loss attributable to the company was $7,202 or $0.00029 per basic and diluted share against net loss attributable to the company of $617,884 or $0.0251 per basic and diluted share a year ago. The increase in Net Sales were primarily attributable to increased sales of used vehicles and sales of parts and For the nine months, the company reported net sales of $173,986,254 against $136,549,511 a year ago. Operating earnings was $2,070,791 against $1,430,365 a year ago. Earnings before income taxes were $1,653,494 against $1,132,952 a year ago. Net earnings attributable to the company were $462,591 or $0.01885 per basic and diluted share against net earnings attributable to the company of $318,798 or $0.01299 per basic and diluted share a year ago. Net cash used in operating activities was $9,778,473 against $10,351,938 a year ago. Purchases of property and equipment were $1,972,630 against $2,380,938 a year ago. The increase in Net Sales were primarily attributable to increased sales of new vehicles and sales of parts and services for vehicle maintenance and repair. Net debt as at September 30, 2012 was $20,055,061 against $11,130,612 as at December 31, 2012.

China Premium Lifestyle Enterprise, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012

China Premium Lifestyle Enterprise, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported net sales of $77,908,649 compared to $47,582,366 for the same period last year. Operating earnings were $2,371,609 compared to profit of $1,445,048 for the same period last year. Earnings before income taxes were $2,697,713 compared to profit of $1,341,008 for the same period last year. Net earnings attributable to the company’s common stockholders were $1,072,190 compared to $524,761 for the same period last year. Diluted per share were $0.0437 compared to $0.0214 for the same period last year. For the six months, the company reported net sales of $124,713,237 compared to $89,971,768 for the same period last year. Operating earnings were $1,731,988 compared to $2,560,817 for the same period last year. Earnings before income taxes were $1,696,903 compared to $2,300,727 for the same period last year. Net earnings attributable to the company’s common stockholders were $469,793 compared to $936,682 for the same period last year. Diluted earnings per share were $0.0191 compared to $0.0382 per share for the same period last year. Net cash used in operating activities was $11,718,914 compared to $3,529,691 for the same period last year. Purchases of property and equipment were $1,911,699 compared to $1,280,474 for the same period last year. The increase in Net Sales were primarily attributable to increased sales of new vehicles and sales of parts and services for vehicle maintenance and repair. Net debt was $23,324,279 compared to $11,130,612 as of December 31, 2011.

China Premium Lifestyle Enterprise Deleted From OTCBB

China Premium Lifestyle Enterprise, Inc.’s common stock has been deleted from OTC Bulletin Board effective July 23, 2012 on account of its ineligibility for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.

 

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