PRNewswire-FirstCall NEW YORK Dec. 2 :
The Hotel Division of the Yi Wan Group, Inc. (BULLETIN BOARD: YIWA) , a
China-based company located in the People`s Republic of China, announced
today that the Company`s flagship hotel, located in Jiaozuo City of the
Henan Province, is installing an expanded, full-service spa center as part
of its luxury conference and entertainment facilities.
The new spa at the Jiaozuo Yi Wan Hotel, expected to open by the end of
November 2003, will increase capacity by 150 percent over the previous spa
facility. Its luxury accommodations are designed to serve 390 men and 90
women, compared to a capacity of 180 persons for the old facility. In
addition, a new food court will be included.
“Spas are extremely popular in China, as well as internationally, and our
spa business has grown substantially in the past year. This new center
will help meet the demand. In addition, the emphasis on quality will add
to the prominence of the Jiaozuo Yi Wan Hotel, which already holds the
region`s highest rating for a hotel and entertainment facility,” declared
Cheng Wan Ming, Yi Wan Group President and Chairman of the Board.
The Yi Wan Hotel Division has invested RMB 8 million (about $1 million) in
the spa center, which will offer expanded “VIP” massage rooms and locker
rooms for men and for women, a hot spring, separate pools for men and
women, steam rooms and saunas, a beauty salon, exercise rooms,
restaurants, bars, game rooms, table tennis and pool tables.
The Hotel Division of the Yi Wan Group, Inc. owns and manages the Jiaozuo
Yi Wan Hotel and the Qinyang Yi Wan Hotel, a smaller luxury hotel in
Qinyang City in Henan Province. The Company is a Foreign Invested
Enterprise Joint Venture and the Hotel Division holds a business license
in China that extends to December 2027.
About Yi Wan Group, Inc.
Yi Wan Group, Inc. was incorporated to explore the feasibility of
acquiring interests in several businesses located in China in which its
President, Mr. Cheng Wan Ming, had an ownership interest. On January 1,
2000, the Company acquired controlling equity interests in certain
China-registered companies, which have ongoing business operations in the
hotel and communications industries in China. The Company`s website
(http://www.yiwangroup.com/) as well as its periodic filings with the
Securities and Exchange Commision (available at http://www.sec.gov/),
contain descriptive information regarding the Company and its management.
Certain statements in this press release constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of Yi Wan Group, Inc. (“the
Company”), or industry results, to be materially different from any future
results, performance, or achievements expressed or implied by such
forward-looking statements, including that the Company`s expanded spa
center is not necessarily indicative of increased revenues or future
financial performance. The Company`s future operating results are
dependent upon many factors, including but not limited to the Company`s
ability to: (i) obtain sufficient capital or a strategic business
arrangement to fund its expansion plans; (ii) build the management and
human resources and infrastructure necessary to support the growth of its
business; (iii) competitive factors and developments beyond the Company`s
control; and (iv) other risk factors discussed in the Company`s periodic
filings with the Securities and Exchange Commission which are available
for review at http://www.sec.gov/ under “Search for Company Filings.”