China Infrastructure Investment Corporation

[Press Release] China Infrastructure Investment Corporation Retains Four Points Capital as Strat

30 Mar 2010 14:23:00 GMT

ZHENGZHOU, CHINA--(Marketwire - 03/30/10) - China Infrastructure Investment Corporation (NASDAQ:CIIC - News) announced today that it has retained Four Points Capital as its exclusive strategic business advisor to assist the Company with the comprehensive evaluation and further development of its strategic growth plan. This plan includes the Company's diversification from toll roads and related businesses to energy production and transportation, alternative energy materials, construction, and other infrastructure segments.

"We are very excited to be working with China Infrastructure Investment Corporation and their management team. They have a great business, and an even better management team. It is rare to find such untapped potential in a public company, and it is our job to help the Company develop and implement a compelling growth strategy that is aimed at maximizing shareholder value. Our initial look will be the expansion of the Company's holdings in the energy production and transportation arena, as well as other strategic opportunities," said Four Points Capital Managing Director, Jeremy Stobie.

The two Companies expect to announce the strategic business plan to the public in the coming weeks.

About China Infrastructure Investment Corporation

China Infrastructure Investment Corporation, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing in, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pinglin Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China. The Company is actively pursuing additional development opportunities in infrastructure projects, including expressways, electricity, water supply and bio fuel facilities. For more information, please visit http://www.ciicusa.com/.

About Four Points Capital

Four Points Capital (www.fourpointscapital.com) provides strategic and financial consulting services to companies worldwide. The Company focuses on working with small and medium sized enterprises which need strategic and financial solutions to assist them in executing their business and growth plans. The Company has extensive experience in the People's Republic of China. Its Principals have engaged in transactions and enterprise value creation in excess of 1 billion United States Dollars. The Company is based in Austin, Texas.

Safe Harbor:

This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.

[Press Release] China Infrastructure Investment Corporation Retains Four Points Capital

30 Mar 2010 14:23:00 GMT

The two Companies expect to announce the strategic business plan to the public in the coming weeks.

About China Infrastructure Investment Corporation

About Four Points Capital

Safe Harbor:

[Press Release] China Infrastructure Investment Reports Second Quarter Net Income Grew 526%

12 Feb 2010 13:00:00 GMT

BEIJING--(Marketwire - 02/12/10) - China Infrastructure Investment Corporation (NASDAQ:CIIC - News), which operates the Pinglin Expressway in Henan Province in central China, today reported substantial profit growth in its second quarter ended December 31, 2009 compared with results in the same period last year despite disappointing revenues in the period.

According to the Company, a severe snowstorm in November, 2009, which disrupted air, road and rail transportation for a lengthy period, led to an 8.2% reduction in average daily traffic volume units in the three month period ended December 31, 2009, compared with the same period in 2008. In turn, revenues in the current fiscal year second quarter declined to $11,606,494 from $12,101,788 in the same period last year.

At the same time, the Company reported that an associated 46% decline in operating costs of the toll operations and a nearly 20% decline in interest costs in this year's second quarter compared with the prior year period, helped increase net income 526% to $1,771,445 or $0.02 per share, for the three month period ended December 31, 2009 from $282,583 or $0.00 per share in the second quarter last year.

For the six months ended December 31, 2009 the Company said net income grew to $4,706,454 or $0.06 per share from $3,593,101 or $0.04 per share, in last year's first half, despite a decrease in revenues from $27,502,808 to $25,185,736 in the comparable six month periods.

Growth Outlook Maintained

The Company's Chairman and CEO, Mr. Li Xipeng, commented, "We are very pleased with the substantial advance we achieved in net income in both the second quarter and six month periods. Further, we continue to anticipate that barring unusual events such as the November snowstorm, toll growth on the Expressway should accelerate in 2010 in line with China's gradually improving economy, especially in the Henan province where the urbanization process is ongoing."

SEE ATTACHED TABLES

About China Infrastructure Investment Corporation:

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of alternative new routes and modes of transportation, pricing and new technology; changes in consumer preferences, and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of maintenance and construction, and other factors such as those discussed in the Company's reports filed with the Securities and Exchange Commission. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

No securities regulatory authority has either approved or disapproved the contents of this news release.

 
 CHINA INFRASTRUCTURE INVESTMENT CORPORATION
 (FORMERLY LEARNING QUEST TECHNOLOGIES, INC.) AND SUBSIDIARIES
 CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
 (UNAUDITED)

 Three Months Ended Six Months Ended
 December 31, December 31,
 2009 2008 2009 2008
 ----------- ----------- ----------- -----------

REVENUES $11,606,494 $12,101,788 $25,185,736 $27,502,808

OPERATING COSTS 1,309,615 2,466,673 2,087,778 3,671,134

DEPRECIATION AND
 AMORTIZATION 2,101,442 1,792,717 4,489,220 3,892,036
 ----------- ----------- ----------- -----------

GROSS PROFIT 8,195,437 7,842,398 18,608,738 19,939,638

General and
 administrative
 expenses 1,111,695 1,501,042 2,480,214 2,842,944
 ----------- ----------- ----------- -----------

INCOME FROM OPERATIONS 7,083,742 6,341,356 16,128,524 17,096,694

OTHER INCOME (EXPENSES)

 Interest expense (7,075,935) (8,918,410) (14,542,137) (18,181,363)

 Interest income 2,143,809 2,768,605 4,269,607 5,538,004

 Other income, net 216,917 185,226 499,891 440,838
 ----------- ----------- ----------- -----------

INCOME FROM OPERATIONS
 BEFORE INCOME TAXES 2,368,533 376,777 6,355,884 4,894,173

INCOME TAX EXPENSE (597,088) (94,194) (1,649,431) (1,301,072)
 ----------- ----------- ----------- -----------

NET INCOME 1,771,445 282,583 4,706,454 3,593,101
 ----------- ----------- ----------- -----------

OTHER COMPREHENSIVE
 INCOME

 Foreign currency
 translation gain 9,908 29,394 200,902 458,246
 ----------- ----------- ----------- -----------

OTHER COMPREHENSIVE
 INCOME 9,908 29,394 200,902 458,246
 ----------- ----------- ----------- -----------

COMPREHENSIVE INCOME $ 1,781,353 $ 311,977 $ 4,907,355 $ 4,051,347
 =========== =========== =========== ===========

WEIGHTED AVERAGE SHARES
 OUTSTANDING, BASIC AND
 DILUTED 80,000,000 80,000,000 80,000,000 80,000,000
 =========== =========== =========== ===========

NET INCOME PER COMMON
 SHARE, BASIC AND
 DILUTED $ 0.02 $ 0.00 $ 0.06 $ 0.04
 =========== =========== =========== ===========

Contact:


 
Contacts:
Mr. Wang Feng
Corporate Secretary
Pinglin Expressway Headquarters
New District, Pingdingshan
Henan Province, P.R. China 467000
Tel: 86-371-68261551
Fax: 86-371-68261839
http://www.ciicusa.com
wangfeng@ciicusa.com
Ken Donenfeld
DGI Investor Relations
212-425-5700
Email: donfgroup@aol.com

[Press Release] China Infrastructure Investment Corporation Sees Pace of Toll Growth

29 Dec 2009 13:00:00 GMT

BEIJING--(Marketwire - 12/29/09) - China Infrastructure Investment Corporation (NASDAQ:CIIC - News), which operates the Pinglin Expressway in Henan Province in central China, said today that it anticipates sequential revenue growth in 2010, spurred by a gradually improving Chinese economy.

As previously reported, in the Company's first quarter ended September 30, 2009, revenues generated from tolls it collected on the Pinglin Expressway were below results in the same period in the prior fiscal year, but approximately $1.09 million or 8.7% higher, compared with the fourth quarter of the prior fiscal year ended June 30, 2009. On a unit basis, the sequential increase was greater than this, as the average daily traffic flow in the first quarter of the current fiscal year of 14,974 was 27% higher than in the preceding fourth quarter of the prior fiscal year.

Sequential Growth in Revenues Expected to Continue

Mr. Li Xipeng, Chairman and CEO of the Company, stated, "Over the remainder of the fiscal year, with continuing gradual improvement in the overall economy anticipated, we see our toll revenues benefitting and advancing at an accelerated pace."

Optimistic About Long Term Growth

"For the longer term," Mr. Li continued, "we have every reason to expect strong revenue growth, with the centrally located Pinglin Expressway now operating at only 30% of its design load, and traffic through Henan Province between the northwest and southeast coastal region of China expected to grow substantially."

About China Infrastructure Investment Corporation:

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

Contact:


 
Contacts:
Mr. Wang Feng
Corporate Secretary
Pinglin Expressway Headquarters
New District, Pingdingshan
Henan Province, P.R. China 467000
Tel: 86-371-68261551
Fax: 86-371-68261839
http://www.ciicusa.com
wangfeng@ciicusa.com
Ken Donenfeld
DGI Investor Relations
212-425-5700
Email: donfgroup@aol.com
Email: kdonenfeld@dgiir.com

[Press Release] China Infrastructure Investment Corporation Reports Fiscal Year End Results

29 Sep 2009 18:45:00 GMT

BEIJING--(Marketwire - 09/29/09) - China Infrastructure Investment Corporation (NASDAQ:CIIC - News), which operates the Pinglin Expressway in Henan Province in central China, today reported results for its fiscal year ended June 30, 2009.

For the year, the Company reported revenues declined 10.9% to $50,270,277 from $56,424,236 in the prior fiscal year, while net income of $2,209,706 for the year decreased 82.4% from $12,534,789 in the prior fiscal year.

The Company said the lower results primarily were due to reduced toll revenue as a consequence of a decrease in traffic volume on the Pinglin Expressway. The Company noted, in particular, a reduction in coal-related commercial traffic in a recessionary period, and the loss of income from vehicles carrying food items, as the government applied a toll free policy to these vehicles. Additionally, in May 2009, the government removed tolls from certain local trunk roads, which led many short-distance drivers to choose these alternatives. As a consequence of a re-evaluation of future revenue, the Company also reported higher depreciation and amortization costs.

Mr. Li Xipeng, Chairman and CEO of the Company, commented, "While 2009 results were disappointing, we continue to believe that Henan, a key transportation destination and crossroad, and the most populated province in China, will see growing auto travel and transportation of goods as China continues to prosper. Further, awareness of the Expressway and the convenience it offers to users will continue to grow. Additionally, the Company plans to invest in the construction and purchase of additional expressways, thermoelectricity, water supply, sewage treatment facilities and other infrastructure assets in the next few years. In doing so, it intends to seize this historic opportunity of rapid development of infrastructure in China and Henan."

About China Infrastructure Investment Corporation:

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

No securities regulatory authority has either approved or disapproved the contents of this news release.

�
              CHINA INFRASTRUCTURE INVESTMENT CORPORATION
      (FORMERLY LEARNING QUEST TECHNOLOGIES, INC.) AND SUBSIDIARIES
             STATEMENTS OF INCOME AND COMPREHENSIVE INCOME


                                                 YEARS ENDED JUNE 30,
                                            --------------  ---------------
                                                 2009            2008
                                            --------------  ---------------

REVENUES                                    $   50,270,277  $    56,424,236

OPERATING COSTS                                  5,603,843        6,814,079

DEPRECIATION AND AMORTIZATION                   12,130,615        6,483,911
                                            --------------  ---------------

GROSS PROFIT                                    32,535,819       43,126,246

General and administrative expenses              5,404,212        3,268,346
                                            --------------  ---------------

INCOME FROM OPERATIONS                          27,131,607       39,857,900

OTHER INCOME (EXPENSES)

Interest expense                               (34,140,068)    (33,745,902)

Interest income                                  9,400,978        9,804,866

Other income, net                                  676,601          905,832
                                            --------------  ---------------

INCOME FROM OPERATIONS BEFORE INCOME TAXES       3,069,118       16,822,696

INCOME TAX EXPENSE                                (859,412)     (4,287,907)
                                            --------------  ---------------

NET INCOME                                       2,209,706       12,534,789
                                            --------------  ---------------

OTHER COMPREHENSIVE INCOME

Foreign currency translation gain                  697,568       16,626,051
                                            --------------  ---------------

OTHER COMPREHENSIVE INCOME, NET                    697,568       16,626,051
                                            --------------  ---------------

COMPREHENSIVE INCOME                        $    2,907,274  $    29,160,840
                                            ==============  ===============

WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC
 AND DILUTED                                    80,000,000       64,472,131
                                            ==============  ===============

NET INCOME PER COMMON SHARE, BASIC AND
 DILUTED                                    $         0.03  $          0.19
                                            ==============  ===============

Contact:


 
Contacts:
Mr. Wang Feng
Corporate Secretary
Pinglin Expressway Headquarters
New District, Pingdingshan
Henan Province, P.R. China 467000
Tel: 86-371-68261551
Fax: 86-371-68261839
http://www.ciicusa.com
wangfeng@ciicusa.com
Ken Donenfeld
DGI Investor Relations
212-425-5700
Email: donfgroup@aol.com
Email: kdonenfeld@dgiir.com

[Press Release] China Infrastructure Investment Sees Continuing Important Role for Private Inves

14 Jul 2009 12:00:00 GMT

China Infrastructure Investment Sees Continuing Important Role for Private Investment in Toll Roads as Part of Government's Massive Highway Expansion Plans

China Infrastructure Investment Corporation (NASDAQ:CIIC - News) which operates the important Pingling Expressway in Central Henan, reported today that recent comments from senior Chinese government officials indicate a continuing recognition by the government of the important role private capital and toll roads will play in the government's plans to expand China's highway system.

According to the Company, a senior spokesman for the Chinese Transportation Ministry recently commented that of the more than $1 trillion expected to be spent for highway construction, the Chinese government is focused on three key areas: a) the toll road network in China East; b) the main highway in China Central; and, c) construction of inter-county roads in rural areas nationwide.

As part of this plan, a senior Ministry of Transportation official recently stated that the government plans to complete a total of 80,000km toll roads nationwide which will connect 319 cities with populations of more than 200,000 each.

In doing so, this official commented that China will carry on its current "diversified, multi-channel" construction financing approach, under which bank loans will keep their leading role, but foreign investment and private capital investment in the toll road infrastructure may increase. He noted further that the government recognizes the importance of toll collection to repay loans and it is very unlikely that China will abolish toll collection any time soon.

Up to One Third of Highway Financing May Come From Private and Foreign Investors

Mr. Li Xipeng, Chairman and CEO of China Infrastructure, commented, "The estimate that bank loans will represent 60% to 70% of the substantial financing required to build the roads, with another 6% to 7% coming from direct grants from the central or local government is one that is in line with our thinking. It has been our view that approximately 25% to one third of all financing will be needed from foreign or private investors such as ourselves."

He continued, "We are very pleased with the opportunity this provides to construct toll roads that offer safe, well run highways which can attract and build commerce and also are pleasing to the local community as well as the growing number of ordinary drivers."

About China Infrastructure Investment Corporation:

China Infrastructure Investment Corporation, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing in, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pingling Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China. The Company is actively pursuing additional acquisition and development opportunities in infrastructure projects, including expressways, electricity, water supply and bio fuel facilities. For more information, please visit www.ciicusa.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

[Press Release] China Infrastructure Investment Cites Report on Positive Economic Impact of Toll

08 Jul 2009 12:00:00 GMT

China Infrastructure Investment Cites Report on Positive Economic Impact of Toll Road Construction in Henan Province as Basis for Favorable Future Outlook

Citing an article on toll road construction in Henan published in the June 26, 2009 issue of China Highway, China Infrastructure Investment Corporation (NASDAQ:CIIC - News) said today the article provides further confirmation that toll roads clearly have accelerated economic development in Henan Province largely by greatly reducing travel time from Henan to neighboring provincial capitals.

China Infrastructure, which operates the important Pingling Expressway in Central Henan, said the article notes this growth is reflected in such statistics as the 10% growth in Henan's transportation sector, the 42 joint ventures established in Henan by Fortune 500 companies, and the rapid growth in Henan's GDP which now is fifth overall in China.

Mr. Li Xipeng, Chairman and CEO of the Company, commented, "We share the belief that there is a direct correlation between these statistics and the toll road construction programs in Henan which have led China for three consecutive years, as measured by the increasing total length of these roads each year, going from a total of 3223km in 2006 to an estimated 5010km in 2010."

"Of course," Mr. Li stated, "these construction programs also increase employment. Toll roads currently under construction in Henan are creating over 700,000 jobs, and there will be another ten toll roads starting to be built in Henan before year end. Additionally, the investment in toll road infrastructure in Henan between 2003 and 2008 reached RMB 13.76 billion (US$2.04 billion)."

Mr. Li stated further, "We think Henan's economic successes will point the way to continuing development of toll roads throughout the country, which we believe bodes well for the future of our Company as we pursue our goals."

About China Infrastructure Investment Corporation:

China Infrastructure Investment Corporation, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing in, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pingling Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China. The Company is actively pursuing additional acquisition and development opportunities in infrastructure projects, including expressways, electricity, water supply and bio fuel facilities. For more information, please visit www.ciicusa.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

[Broadcast] Welcome to Chinasecurities

10 Mar 2009 18:16:21 GMT

[Photo] Pinglin Expressway

05 Mar 2009 16:56:11 GMT

Pingdingshan Pinglin Expressway Co., Ltd (â€œPinglinâ€) was incorporated in Henan province of China on May 12, 2003. Pinglin currently operates the Pinglin Expressway, a 106-kilometer (66.25 miles) four-lane toll road in Henan province. Pinglin Ex

[Photo] Growth and Funding

05 Mar 2009 16:55:31 GMT

- Most of the expressway construction are funded by business, private sector, and bank loans. - China has attracted more private funding for expressway construction than any other country in the world. - Most of the expressway are toll road to serve d

[Photo] Henan Province

05 Mar 2009 16:54:59 GMT

â€“Located in East Central China â€“The most populated province in China with population 97.68 million â€“GDP RMB 1.5 trillion ($215 billion) in 2007, ranking No.5 among provinces in China â€“One of the largest agriculture products producing provinces

[Press Release] China Infrastructure Investment Reports Second Quarter and Six Months Results

19 Feb 2009 10:01:00 GMT

BEIJING--(MARKET WIRE)--Feb 19, 2009 -- China Infrastructure Investment Corporation (NasdaqCM:CIIC - News), an emerging infrastructure development Company operating in the People's Republic of China, today reported results for its second quarter and six months ended on December 31, 2008.

Revenues in the quarter -- which were derived principally from the operation of the Pingling Expressway -- were $12,101,788, compared with $13,954,729 in the same period last year.

Second quarter net income declined to $282,583 from $2,183,653 or $0.04 per share in the second quarter last year.

In the six months ended on December 31, 2008, revenue decreased approximately $1.1 million to $27,502,808 from the $28,558,742 reported in the comparable six month period last year.

Net income in the six months ended on December 31, 2008 declined to $3,593,101, or $0.04 per share, compared with net income of $6,436,374, or $0.12 per share in the comparable six month period last year.

Weighted average shares outstanding as of December 31, 2008 increased to 80 million, compared with 55 million shares as of December 31, 2007.

The Company attributed the decline in revenues in the quarter and six month period to a decrease in traffic volume of commercial vehicles on the Pingling Expressway, as well as a toll free policy introduced by the Chinese government.

According to the Company, commercial vehicles -- especially coal trucks -- were one of the main categories of passing vehicles with high toll rates. In the three months ended December 31, 2008, however, China's coal market decreased due to the world financial crisis. Additionally, due to a series of accidents, coal mine operations were suspended in Henan Province. As a consequence, commercial traffic volume on the toll road expressway in the three month period declined close to 5%; and roughly 3.7% as a percentage of total traffic volume over the six month period.

Additionally, in 2008 the Chinese government introduced a toll free policy for vehicles carrying certain food products. This resulted in a percentage of traffic on the Expressway becoming toll free.

Mr. Li Xipeng, Chairman and CEO of the Company, commented, "We will continue to manage the highway professionally, which should translate to growth in consumer satisfaction and traffic volume. At the same time, we continue to review additional possibilities for the development and management of infrastructure projects in line with our growth strategy."

About China Infrastructure Investment Corporation:

China Infrastructure Investment Corporation, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing in, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pingling Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China. The Company is actively pursuing additional acquisition and development opportunities in infrastructure projects, including expressways, electricity, water supply and bio fuel facilities. For more information, please visit www.ciicusa.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

No securities regulatory authority has either approved or disapproved the contents of this news release.

 
                China Infrastructure Investment Corporation
                          Results of Operations

  Results of Operations for the Three (3) Months Ended December 31, 2008
         Compared to the Three (3) Months Ended December 31, 2007

The following table sets forth a summary of certain key components of our
results of operations for years indicated, in dollars and as a percentage
of revenues.


                                    Three Months Ended   Three Months Ended
                                        December 31         December 31
                                        (Unaudited)         (Unaudited)
                                ------------------------- ----------------
                                     2008         2007     2008     2007
                                ------------ ------------ -------  -------
Revenues                        $ 12,101,788 $ 13,954,729   100.0%   100.0%
Operating costs                    2,466,673    2,446,018    20.4%    17.5%
Depreciation and amortization      1,792,717    1,597,684    14.8%    11.5%
Gross profit                       7,842,398    9,911,027    64.8%    71.0%
General and administrative
 expenses                          1,501,042    1,495,916    12.4%    10.7%
Income from operations             6,341,356    8,415,111    52.4%    60.3%
Interest expense, net              6,149,805    5,604,709    50.8%    40.2%
Other income, net                    185,226       94,580     1.5%     0.7%
Income from operations before
 income taxes                        376,777    2,904,982     3.1%    20.8%
Income tax expense              $     94,194 $    721,329     0.8%     5.2%
Net income                      $    282,583 $  2,183,653     2.3%    15.6%



   Results of Operations for the Six (6) Months Ended December 31, 2008
          Compared to the Six (6) Months Ended December 31, 2007

The following table sets forth a summary of certain key components of our
results of operations for years indicated, in dollars and as a percentage
of revenues.


                                   Six Months Ended       Six Months Ended
                                      December 31           December 31
                                      (Unaudited)           (Unaudited)
                                ------------------------- ----------------
                                    2008         2007       2008     2007
                                ------------ ------------ ------- --------
Revenues                        $ 27,502,808 $ 28,558,742   100.0%   100.0%
Operating costs                    3,671,134    2,969,505    13.3%    10.4%
Depreciation and amortization      3,892,036    3,362,476    14.2%    11.8%
Gross profit                      19,939,638   22,226,761    72.5%    77.8%
General and administrative
 expenses                          2,842,944    2,426,903    10.3%     8.5%
Income from operations            17,096,694   19,799,858    62.2%    69.3%
Interest expense, net             12,643,359   11,515,933    46.0%    40.3%
Other income, net                    440,838      291,399     1.6%     1.0%
Income from operations
 before income taxes               4,894,173    8,575,324    17.8%    30.0%
Income tax expense              $  1,301,072 $  2,138,950     4.7%     7.5%
Net income                      $  3,593,101 $  6,436,374    13.1%    22.5%

Contact:

     Contacts:
      
     Mr. Wang Feng
     Corporate Secretary
     Pinglin Expressway Headquarters
     New District, Pingdingshan
     Henan Province, P.R. China 467000
     Tel:86-371-68261551
     Fax:86-371-68261839
     http://www.ciicusa.com
     wangfeng@ciicusa.com
      
     Liya Wu
     Tel: 646-573-7654
     Fax: 905-755-9434
     Email: lwu@mccgroupusa.com
      
     Ken Donenfeld
     DGI Investor Relations
     212-425-5700
     Email: donfgroup@aol.com
     Email: kdonenfeld@dgiir.com

[Press Release] China Infrastructure Reports First Quarter Results

05 Nov 2008 07:00:00 GMT

BEIJING--(MARKET WIRE)--Nov 17, 2008 -- China Infrastructure Investment Corporation (NasdaqCM:CIIC - News), an emerging infrastructure development company operating in the People's Republic of China, announced today a 6.3% revenue increase in its first fiscal quarter ended September 30, 2008 compared with the same period last year. Revenues in the quarter, derived entirely from tolls on the Pinglin Expressway in Henan operated by the Company, reached $15,438,407 compared with $14,520,907 in the first quarter of fiscal 2007. According to the Company, revenues in the period were lower than anticipated and, coupled with increased G&A and interest expenses, net income in the period declined approximately 21.3% compared with last year's first quarter.

The Company said that two key factors reduced anticipated toll revenues in the period. In particular, there was a decrease in higher toll rate coal truck traffic due to world economic factors and, more specifically, a suspension in the operations of Henan coal mines in the period due to a series of accidents at the mines. Additionally, the government introduced a toll free policy in 2008 for all vehicles carrying agricultural and marine products aimed at reducing food costs, which further reduced Pinglin toll revenues.

At the same time, in anticipation of continuing growth, the Company had higher operating and interest expenses in the period which reduced pre-tax and pre-interest gross profits from 84.2% of prior year first quarter revenues to 78.5% of revenues in the first quarter of fiscal 2008. Consequently, net income in the 2008 first quarter decreased approximately $0.9 million, to $3,316,185 compared with $4,215,161 in last year's first quarter. Weighted average shares outstanding in the first quarter ended September 30, 2008 increased substantially to 80,000,000 shares from 54,400,000 in the same period last year. This is reflected in the decrease in EPS to $0.04 per share in the September '08 first quarter compared with $0.08 in the first quarter ended September 30, 2007.

Outlook

Commenting on these results, Mr. Li Xipeng, Chairman and CEO of the Company, stated, "The 66 mile long Pinglin Expressway is strategically located in the most populated province in China, and we fully expect to see further increases in traffic on it, as awareness of this relatively new route continues to grow."

"Moreover," he added, "there is a continuing strong need for further infrastructure development in Henan and throughout China, and we will pursue appropriate available opportunities while being fully self-sustained by the cash flow from our current operations. The historic opportunity for rapid development of China's infrastructure remains and we envision many new profitable projects in the future."

Balance Sheet and Capex

During the quarter ended September 30, 2008, net cash provided by operating activities was approximately $3.1 million, a decrease from approximately $6.1 million in the comparative quarter last year, mainly due to the decrease in net income and accounts receivables in the period. However, cash and cash equivalents at period end in 2008 increased to $7,735,398 compared with $5,624,936 in the same period last year.

The Company had capital expenditures of approximately $1.0 million in the first quarter of fiscal 2008, mainly for toll road infrastructure, toll stations and ancillary facilities and other equipment related to its operation of the Pinglin Expressway.

For additional information, please consult the attached tables.

About China Infrastructure Investment Corporation:

China Infrastructure Investment Corporation, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing in, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pinglin Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China. The Company is actively pursuing additional acquisition and development opportunities in infrastructure projects, including expressways, electricity, water supply and bio fuel facilities. For more information, please visit www.ciicusa.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive conditions and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of construction, financing costs and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

No securities regulatory authority has either approved or disapproved the contents of this news release.

 
                CHINA INFRASTRUCTURE INVESTMENT CORPORATION
      (FORMERLY LEARNING QUEST TECHNOLOGIES, INC.) AND SUBSIDIARIES
   CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
                              (UNAUDITED)


                                                     THREE MONTHS
                                                         ENDED
                                                      SEPTEMBER 30,
                                              ----------------------------
                                                  2008            2007
                                              ------------    ------------

REVENUES                                      $ 15,438,407    $ 14,520,907

OPERATING COSTS                                  1,209,211         486,882

DEPRECIATION AND AMORTIZATION                    2,104,615       1,801,574
                                              ------------    ------------

GROSS PROFIT                                    12,124,581      12,232,451

General and administrative expenses              1,345,248         929,997
                                              ------------    ------------

INCOME FROM OPERATIONS                          10,779,333      11,302,454

OTHER INCOME (EXPENSES)

Interest expense, net                           (6,510,594)     (5,877,275)

Other income, net                                  256,212         195,035
                                              ------------    ------------

INCOME FROM OPERATIONS BEFORE INCOME TAXES       4,524,951       5,620,214

INCOME TAX EXPENSE                              (1,208,766)     (1,405,053)
                                              ------------    ------------

NET INCOME                                       3,316,185       4,215,161
                                              ------------    ------------

OTHER COMPREHENSIVE INCOME

Foreign currency translation gain                  428,851       2,081,780
                                              ------------    ------------

OTHER COMPREHENSIVE INCOME                         428,851       2,081,780
                                              ------------    ------------

COMPREHENSIVE INCOME                          $  3,745,036    $  6,296,941
                                              ============    ============

WEIGHTED AVERAGE SHARES OUTSTANDING,
 BASIC AND DILUTED                              80,000,000      54,400,000
                                              ============    ============

NET INCOME PER COMMON SHARE,
 BASIC AND DILUTED                            $       0.04    $       0.08
                                              ============    ============

Contact:

     Contacts:
      
     Mr. Wang Feng
     Corporate Secretary
     Pinglin Expressway Headquarters
     New District, Pingdingshan
     Henan Province, P.R. China 467000
     Tel:86-371-68261551
     Fax:86-371-68261839
     http://www.ciicusa.com
     wangfeng@ciicusa.com
      
          US
     Ken Donenfeld
     DGI Investor Relations
     212-425-5700
     Email: donfgroup@aol.com
     Email: kdonenfeld@dgiir.com

[Press Release] CIICAnnounces Its Audited Financial Results for the Fiscal Year Ended June 30

30 Sep 2008 06:00:00 GMT

BEIJING--(MARKET WIRE)--Sep 30, 2008 -- China Infrastructure Investment Corporation (NasdaqCM:CIIC - News) (the "Company"), an emerging infrastructure development company operating in the People's Republic of China, announces today its audited financial results for the fiscal year ended June 30, 2008. The Company's revenues increased approximately US$18.0 million, or 46.8%, from approximately US$38.4 million for the fiscal year ended June 30. The Net income increased approximately US$5.0 million, or 67.8%, from approximately US$7.5 million for the fiscal year ended June 30, 2007.

CIIC, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pinglin Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China.

The Company's revenues are derived from the operation of the Pinglin Expressway. The revenue increase of approximately US$18.0 million, or 46.8% from fiscal year 2007, was mainly attributable to the increase in traffic volumes.

The Gross profit increased approximately US$11.8 million, or 37.9%, from approximately US$31.3 million for the fiscal year ended June 30. This increase reflected higher net sales and operating efficiencies generally across the expressway business.

General and administrative expenses increased approximately US$1.1 million, or 49.3%, from US$2.2 million for the fiscal year ended June 30, 2007. The increase in administration expenses was mainly attributable to the increase in payroll and benefits, increase in local taxes, professional services and travel expenses in association with the public listing.

The Company's net income increased approximately US$5.0 million, or 67.8%, from approximately US$7.5 million for the fiscal year ended June 30, 2007. This increase is primarily attributable to the growth of the toll revenues and well managed expenses.

Net cash provided by operating activities is approximately US$14.5 million for the fiscal year ended June 30, 2008, as compared to US$11.5 million for the fiscal year ended June 30, 2007. The increase is mainly due to the combined result of increased toll receipts, offset in part by operational costs and expenses.

The decrease in current portion of long-term loans primarily represented the maturity of the long-term loans of approximately US$134 million which have been renewed and extended through May 2022.

As of June 30, 2008, the Company's total cash and time deposit balance was US$5.77 million, compared to US$5.83 million as of June 30, 2007.

The Company made capital expenditures approximately of US$6.7 million and US$24.7 million for the years ended June 30, 2008 and 2007, respectively. The capital expenditures principally consisted of toll road infrastructures, toll stations and ancillary facilities, communication and monitoring equipments and other equipments related to toll operations.

Mr. Li Xipeng, Chairman and Chief Executive Officer of the Company, stated, "CIIC has achieved tremendous growth in fiscal year 2008. The economic expansion in China and specifically in Henan Province provided solid foundation and support for Company's growth. The management team was able to manage the costs along with high revenue growth to achieve outstanding performance." Mr. Li continued, "We also have successfully managed the Company's debt structure and cash flow. The Company is fully self-sustained by the cash flow from our existing operations and is able to meet our current financing obligations despite the turmoil in the world financial markets. With the listing on NASDAQ, CIIC is well positioned to grow its business through new project development and through merger and acquisition."

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive conditions and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of construction, financing costs and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

No securities regulatory authority has either approved or disapproved the contents of this news release.

 
     CHINA INFRASTRUCTURE INVESTMENT CORPORATION AND SUBSIDIARIES
                     CONSOLIDATED BALANCE SHEETS


                                ASSETS


                                                June 30, 2008 June 30, 2007
                                                ------------- -------------

CURRENT ASSETS
Cash and cash equivalents                       $   5,769,344 $   5,830,962
Restricted cash                                        29,104     2,631,475
Note receivable                                       776,936       656,556
Accounts receivable                                 2,006,848     2,721,057
Other receivables                                     419,642     1,389,579
Notes receivable from related parties, current     10,197,016   126,098,139
Advance to a related party                         21,733,471    29,998,648
Other current assets                                  991,768       138,742
                                                ------------- -------------
  Total current assets                             41,924,129   169,465,158
                                                ------------- -------------

Toll road infrastructures, net                    443,672,007   398,701,246
Plant and equipment, net                           15,943,451    14,754,523
Land use rights, net                               49,066,392    46,068,301
Long-term investment                                1,455,223     1,313,111
Notes receivable from related parties,
 long-term                                        139,872,158             -
Deferred taxes                                      6,059,721     6,170,156
                                                ------------- -------------
  Total long-term assets                          656,068,952   467,007,337
                                                ------------- -------------

TOTAL ASSETS                                    $ 697,993,081 $ 636,472,495
                                                ============= =============





        CHINA INFRASTRUCTURE INVESTMENT CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED BALANCE SHEETS


                   LIABILITIES AND SHAREHOLDERS' EQUITY


                                              June 30, 2008  June 30, 2007
                                              -------------- -------------

CURRENT LIABILITIES
Other payables and accrued liabilities        $    4,840,299 $   2,932,841
Short-term bank loans                                      -    10,504,891
Current portion of long-term loans                10,678,425   134,047,666
Note payable                                               -     5,262,951
Payable to contractors                            24,224,039    26,411,885
Deferred taxes                                     8,556,534     4,604,522
Other current liabilities                            225,915       157,426
                                              -------------- -------------
  Total current liabilities                       48,525,212   183,922,182
                                              -------------- -------------

LONG-TERM LIABILITIES
Long-term bank loans                             466,512,413   299,279,102
Deferred revenue                                   6,627,828     6,041,304
                                              -------------- -------------
  Total long-term liabilities                    473,140,241   305,320,406
                                              -------------- -------------

TOTAL LIABILITIES                                521,665,453   489,242,588
                                              -------------- -------------

CONTINGENCIES

SHAREHOLDERS' EQUITY
Common stock, $.001 par value, 150,000,000
 shares  authorized, 80,000,000 shares and
 54,400,000 shares issued and outstanding
 as of June 30, 2008 and 2007, respectively           80,000        54,400
Additional paid-in capital                       140,573,673   140,662,392
Accumulated other comprehensive income            26,818,531    10,192,480
Retained earnings (deficit)                        8,855,424    (3,679,365)
                                              -------------- -------------
  Total Shareholders' Equity                     176,327,628   147,229,907
                                              -------------- -------------

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY    $  697,993,081 $ 636,472,495
                                              ============== =============








      CHINA INFRASTRUCTURE INVESTMENT CORPORATION AND SUBSIDIARIES
            STATEMENTS OF INCOME AND COMPREHENSIVE INCOME



                                                   YEARS ENDED JUNE 30,
                                                --------------------------
                                                    2008          2007
                                                ------------  ------------

REVENUES                                        $ 56,424,236  $ 38,449,103

OPERATING COSTS                                    6,814,079     1,353,310

DEPRECIATION AND AMORTIZATION                      6,483,911     5,811,456
                                                ------------  ------------

GROSS PROFIT                                      43,126,246    31,284,337

General and administrative expenses                3,268,346     2,189,499
                                                ------------  ------------

INCOME FROM OPERATIONS                            39,857,900    29,094,838

OTHER INCOME (EXPENSES)

  Interest expense, net                          (23,941,036)  (19,326,104)

  Other income, net                                  905,832       188,577
                                                ------------  ------------

Income FROM OPERATIONS Before Income Taxes        16,822,696     9,957,311

Income Tax EXPENSE                                (4,287,907)   (2,489,328)
                                                ------------  ------------

NET INCOME                                        12,534,789     7,467,983
                                                ------------  ------------

Other comprehensive income

Foreign currency translation gain                 16,626,051     6,730,246
                                                ------------  ------------

Other comprehensive income, NET                   16,626,051     6,730,246
                                                ------------  ------------

COMPREHENSIVE INCOME                            $ 29,160,840  $ 14,198,229
                                                ============  ============

WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND
 DILUTED                                          64,472,131    54,400,000
                                                ============  ============

NET INCOME PER COMMON SHARE, BASIC AND DILUTED  $       0.19  $       0.14
                                                ============  ============








      CHINA INFRASTRUCTURE INVESTMENT CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF CASH FLOWS


                                                   YEARS ENDED JUNE 30,
                                                --------------------------
                                                    2008          2007
                                                ------------  ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income                                      $ 12,534,789  $  7,467,983
Adjustments to reconcile net income to net cash
 provided by operating activities:
Depreciation and amortization                      7,039,349     6,112,186
Deferred taxes                                     4,062,447     2,355,730
Deferred revenue                                    (571,640)     (530,782)
Interest income                                   (9,700,215)            -
Imputed interest                                     507,834       475,925
Gain from disposal of plant and equipment            103,343             -
Changes in operating assets and liabilities:
(Increase) Decrease In:
Accounts receivable                                  714,209    (1,972,723)
Other receivables                                    969,937       187,926
Other current assets                                (853,027)      602,295
Increase (Decrease) In:
Payable to contractors                            (2,187,846)            -
Other payables and accrued liabilities             1,844,339    (3,317,031)
Other current liabilities                             68,489       127,576
                                                ------------  ------------
   Net cash provided by operating activities      14,532,008    11,509,085
                                                ============  ============

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of construction in progress             (6,114,070)  (23,241,194)
Purchases of plant and equipment                    (545,399)     (336,999)
Purchases of land use rights                               -    (1,129,893)
Refund of deposit for long-term investment                 -     1,281,140
Note receivable                                            -      (656,556)
Proceeds from disposition of plant and
 equipment                                            61,177             -
Advance to a related party                        10,914,798             -
Notes receivable from related parties               (120,470)    3,427,154
                                                ------------  ------------
   Net cash provided by (used in) investing
    activities                                     4,196,036   (20,656,348)
                                                ============  ============

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term bank loans               170,899,229    25,874,237
Repayments of long-term bank loans              (173,774,644)  (25,353,751)
Proceeds from short-term bank loans                        -    10,249,118
Repayments of short-term bank loans              (11,038,061)   (5,002,752)
Proceeds from notes payable                                -     7,607,437
Repayments of notes payable                       (5,530,068)   (2,344,486)
Restricted cash                                    2,602,371    (2,631,475)
Capital contributions                                      -     3,843,419
                                                ------------  ------------
   Net cash (used in) provided by financing
    activities                                   (16,841,173)   12,241,747
                                                ============  ============

NET INCREASE IN CASH AND CASH EQUIVALENTS          1,886,871     3,094,484
  Effect of exchange rate changes on cash         (1,948,489)   (2,788,362)
  Cash and cash equivalents at beginning of year   5,830,962     5,524,840
                                                ------------  ------------

Contact:

     Contact:
     Mr. Wang Feng
     Corporate Secretary
     Pinglin Expressway Headquarters
     New District, Pingdingshan
     Henan Province, P.R. China 467000
     Tel:86-371-68261551
     Fax:86-371-68261839
     http://www.ciicusa.com
     wangfeng@ciicusa.com

[Press Release] China Infrastructure Investment Corp Begins Trading on the NASDAQ Stock Market

12 Aug 2008 10:29:00 GMT

BEIJING--(MARKET WIRE)--Aug 12, 2008 -- China Infrastructure Investment Corporation (CIIC - News) (the "Company") announced today that its shares commenced trading on the NASDAQ National Capital Market on Aug 12th under a new symbol "CIIC." China Infrastructure Investment Corporation is an emerging infrastructure development company operating in the People's Republic of China.

Mr. Li Xipeng, Chairman and Chief Executive Officer of the Company, commented, "The listing of CIIC on the NASDAQ Stock Market will enhance the company's ability to carry out its strategic development in the infrastructure projects in China. Through NASDAQ Stock Market, we will partner with strategic investors to develop and acquire more expressways and other infrastructure projects. With its rapid economic growth, China continues to invest heavily in country's infrastructure and welcomes investors from overseas to participate. China Infrastructure Investment has been very successful in developing and operating Pinglin Expressway."

CIIC's Chief Financial Officer, Mr. Zhang Cunxian, added, "We believe that the NASDAQ listing will help the company to maximize shareholder values in the long-run and bring more transparency to our shareholders. The management will continue to strengthen our corporate governance and to enhance our communication with shareholders and investors."

About China Infrastructure Investment Corporation:

China Infrastructure Investment Corporation, incorporated in Nevada, USA and headquartered in Henan Province, China, focuses on investing, constructing, operating and managing infrastructure development projects in China. The Company currently operates the Pinglin Expressway, a 106-kilometer (66 miles) dual carriageway four-lane toll road in the central province of Henan. The Expressway is an important passage from the northwest region to the southeast coastal region of China. The Company is actively pursuing additional acquisition and development opportunities in infrastructure projects, including expressways, electricity, water supply and bio fuel facilities. For more information, please visit www.ciicusa.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive conditions and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of construction, financing costs and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

No securities regulatory authority has either approved or disapproved the contents of this news release.

Contact:

     Investor's Relation Contact:
     Mr.Wang Feng
     Corporate Secretary
     Pinglin Expressway Headquarters
     New District, PingDingShan,
     Henan, P.R.China 467000
     Tel:86-375-2754377
     Fax:86-375-2754444
     http://www.ciicusa.com
     ciicusa@gmail.com

Source: China Infrastructure Investment Corporation