China Properties Developments, Inc. Reports Results for 2006
XI'AN, China--(BUSINESS WIRE)--China Properties Developments, Inc. (OTCBB:CPDV) through its majority owned subsidiaries, is primarily engaged in the acquisition and development of land holdings, and the development, sale, rental, and management of mixed-use residential, commercial and office properties in the City of Xi’an, the capital of Shaanxi Province in the People’s Republic of China, recently announced results for the fiscal year ended December 31, 2006.

For the year ended December 31, 2006, revenue was $4,733,773 compared to $4,510,328 for the year ended December 31, 2005. Gross profit for the year ended December 31, 2006 was $1,439,912 compared to $1,127,582 in the comparable period in 2005. Net loss for the 2006 year period was $124,487 or $0.01 per share, compared to net income of $420,129 or $0.02 per share, in the comparable period of 2005. Comprehensive loss for the 2006 year period was $209,790 or $0.01 per share, compared to comprehensive income of $347,962 or $0.02 per share, in the comparable period of 2005.

Ping'an Wu, Chairman, President and CEO of China Properties Developments, Inc. said, "We are pleased to announce our financial results for 2006. 2006 was another milestone year in the development of China Properties as during the year we completed development of the Yangming International Tower, announced the acquisition of Shaanxi Xinyuan Real Estate Co. Ltd and their Yan-Ta Shopping Mall property, and engaged Sandler O'Neill Mortgage Finance L.P., LLC as Introducing Broker. We are very excited about plans for the rest of 2007.”

Steven Lou, Director, Executive VP and CFO of China Properties Developments, Inc., stated, "We are proud of our corporate results for 2006 and to date. The Company is continuing to work hard to leverage our position as a publicly traded company. China Properties remains committed to working towards increasing long term shareholder value.”

About The Company

China Properties Developments, Inc. through its majority owned subsidiaries, is primarily engaged in the acquisition and development of land holdings, and the development, sale, rental, and management of mixed-use residential, commercial and office properties in the City of Xi’an, the capital of Shaanxi Province in the People’s Republic of China, One of China's most ancient cities, Xi'an is a thriving cultural, historical and intellectual center, whose population of more than 6 million. The Company has completed development of the Jiahui Office Building, Oufengyuan Office Building, Jixiang Garden Residential Project, and Yangming International Tower. Currently there are three specific projects that are in various stages of negotiations and planning, they are: Garden Villa, Bali Village and the Great Tang Hibiscus Garden. The total assets of the Company are over US$28 million. The Company recently entered into an agreement to acquire Shaanxi Xinyuan Real Estate Co., developer of the Yan-Ta Shopping Mall. For more information go to www.chinapropertiesdevelopments.com.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the companies, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the companies disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.