FWK

TORONTO, Feb. 17 /CNW/ -- TORONTO, Feb. 17 /CNW/ - Liuyang Fireworks Limited (TSXV: FWK), a leading China-based manufacturer of consumer fireworks, today announced record domestic sales for its 2011 Chinese New Year selling season. Combined record domestic sales for the 10-week period ended January 21, 2011 were approximately $3.6 million, representing $2.3 million from traditional product sales to domestic wholesaler network and $1.3 million from wholesale revenue of Zhejiang Wanjia, the wholesaler acquired by Liuyang as a Joint Venture (51% owned by Liuyang) in 2010. The result shows 80% of increase from 2.0 million sales for the same selling season last year. "We are very pleased to see both company's organic growth and new contribution from Wanjia wholesaler to our total sales number," said Miao Hu, President and Chief Executive Officer, Liuyang Fireworks. "We continue to capitalize on the growing domestic market through new products offering and additional marketing efforts on target markets. We introduced 30 new products during 2011 Chinese New Year selling season." Chinese New Year, which is also known as Chinese Lunar Calendar or Spring Festival, is the most important of the traditional Chinese holidays. It begins on the first day of the first month in the Chinese calendar and continues for 15 days. 2011 Chinese New Year Celebrates the year of rabbit and it will run from February 3rd to 17th. Fireworks are a critical component of Chinese New Year celebrations. About Liuyang Fireworks Limited Liuyang Fireworks Limited is a leading China-based manufacturer of consumer fireworks that are distributed domestically and in more than 15 countries in North America, South America and Europe. The Company has more than 16 years of experience in the fireworks industry and is a supplier to the world's top five fireworks wholesalers and retailers. Liuyang's ISO9001-certified manufacturing facilities are located in the Liuyang area of Hunan, China where more than half of the world's fireworks are produced. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities legislation. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2011/17/c3383.html pJacky Longbr/ Chief Financial Officerbr/ Liuyang Fireworks Limitedbr/ Tel : 416-613-0208 ext 206br/ a href="mailto:jackylong@farocean.com"jackylong@farocean.com/a/p

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