China Shengda Packaging Group Inc. Revises 2011 Financial Guidance

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China Shengda Packaging Group Inc. Revises 2011 Financial Guidance -- HANGZHOU, China, Dec. 23, 2011 /PRNewswire-Asia-FirstCall/ --

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HANGZHOU, China, Dec. 23, 2011 /PRNewswire-Asia-FirstCall/ -- China Shengda Packaging Group Inc. (NASDAQ: [ CPGI ]) ("China Shengda Packaging" or the "Company"), a leading Chinese paper packaging manufacturer, is revising its financial guidance for the year ending December 31, 2011 as follows:

As was pointed out in the earnings press release for the third quarter of 2011, lower raw materials cost trends that were appearing in October might not persist during the remainder of the fourth quarter, and this has proven to be the case. Higher than anticipated raw materials costs are the main reason why gross profits are expected to be lower in the fourth quarter than was previously expected. Those additional costs are not being entirely passed on to customers. If these conditions persist, the Company also expects to enter 2012 with gross margins under pressure from raw materials costs.

About China Shengda Packaging Group Inc.

China Shengda Packaging Group Inc. is a leading paper packaging company in China. It is principally engaged in the design, manufacturing and sale of flexo-printed and color-printed corrugated paper cartons in a variety of sizes and strengths. It also manufactures corrugated paperboards, which are used for the production of its flexo-printed and color-printed cartons. The company provides paper packaging solutions to a wide variety of industries, including food, beverage, cigarette, household appliance, consumer electronics, pharmaceuticals, chemicals, machinery and other consumer and industrial sectors in China. For more information, visit [ http://www.cnpti.com ].

Safe Harbor Statements

This press release may contain forward-looking statements. Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to develop and market new products, the ability to access capital for expansion and continued investment in R&D, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in profit margins of principal product and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

SOURCE China Shengda Packaging Group Inc.

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