Jincheng Corporation Announces Manufacturing Alliance with Europe's Largest Motorcycle Producer

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KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Jincheng Corporation, one of Chinas largest motorcycle manufacturers, today announced a strategic alliance with Europes largest producer of motorcycles and scooters. Devon Motorcycles, Inc. is the registered Department of Transportation (DOT) and Environmental Protection Agency (EPA) agent for the Jincheng Corporation.

Through the agreement, Jincheng will manufacture a new line of Aprilia motorcycles and engines. Aprilia, based in Italy, is an international market leader in the motorcycle and scooter arena, earning over US$300 million annually in export business to over 29 countries. Nearly two million Aprilia motorcycles and scooters are on the road today. The company has foreign branches across Europe and North America. In 2004, Aprilia was acquired by Piaggio, Italys largest manufacturer of motorcycles.

“This is an outstanding partnership for Jincheng, and a pivotal step towards our global expansion, says Wang Jian, president of the Jincheng Group. Aprilia is a world-renowned motorcycle producer, owner of the industrys top brands, and a part of the largest motorcycle production entity in Europe. We are excited to leverage our partnership with them, and create a similar powerhouse in the U.S. with Devon Motorcycles.

Devon Motorcycles exclusively distributes Jincheng bike models in the United States. Jincheng has led Chinas motorcycle industry in exports and foreign exchange income for nine consecutive years. In 2005, the company exported more than 500,000 bikes to 40 countries, and produced annual revenues over $625 million. Jincheng has been recognized by Chinas State Administration for Industry and Commerce as the countrys leading brand (Beijing Review).

"Jincheng's partnerships with Devon Motorcycles in the U.S. and Aprilia in Europe will further expand the company's market share in the global powersports industry," says Ruth Wu, vice president of operations for Devon Motorcycles. "The company's momentum will continue in 2007, when Devon Motorcycles will introduce Jincheng's 150cc Eupolo scooter to the U.S. The Eupolo features an award-winning Italian-design and will accompany our recently EPA-certified line of 150cc, 75cc, and 50cc dirt bikes. With our ever-growing representation of its bikes in America, the Jincheng brand is primed for an explosive presence in dealerships across the country."

Production of the Aprilia motorcycle line will commence in the fourth quarter of this year. Devon Motorcycles expects EPA-certification of its Eupolo 150cc and 50cc scooters in the first quarter of 2007.