China Yida Holding Company (Nasdaq:CNYD - News) ("China Yida" or the "Company"), a leading diversified tourism and entertainment enterprise in China, today announced financial results for the quarter ended September 30, 2011.

Third Quarter 2011 Highlights

• Total net revenue was $11.2 million, an increase of 1.6% as compared to $11.0 million in the third quarter of 2010
• Net revenue from the tourism business was $2.9 million, an increase of 121.9% year over year with a gross margin of 51.8%
• Net revenue from the media business was $8.3 million, a decrease of 14.4% year over year with a gross margin of 74.3%
• Gross profit was $7.7 million, a decrease of 7.0% compared to $8.3 million in the same period last year
• Net income attributable to China Yida Holding Company was $3.2 million, a decrease of 31.3% as compared to $4.7 million posted in the same period last year
• Fully diluted EPS was $0.16 per share, compared to $0.23 in the third quarter of 2010

Financial Condition

As of September 30, 2011, the Company had $14.4 million in cash and cash equivalents on its balance sheet. Working capital was $16.3 million and current ratio was 2.4 times. The Company's total debt is $15.2 million as of September 30, 2011 with $5.4 million bank loans to mature within 12 months.

About China Yida

China Yida is a leading tourism and media enterprise focused on China's fast-growing leisure industry and headquartered in Fuzhou City, Fujian province of China. The Company provides tourism management services and specializes in the development, management and operation of natural, cultural and historic scenic sites.

Last Trade: 3.28 52 Week: 12.80 – 2.04 Market Cap: 64.13 Million

ir@yidacn.net

   Date:      November 19, 2009
    Time:      08:40 a.m. - 09:15 a.m. EST
    Presenter: George Wung, CFO
    Location:  The Millennium Broadway Hotel
               New York, NY

The Brean Murray, Carret & Co. 2009 China Growth Conference is a two-day conference (November 19-20, 2009) that consists of 25-minute presentation slots followed by 10 minutes of open floor Q&A sessions with institutional investors. Senior management of presenting companies, industry experts, and institutional investors will receive a unique and comprehensive view of China from a global perspective. China Yida's management will be available for one- on-one meetings before and after the Company's presentation.

To complement its participation at the conference, China Yida is also scheduled to launch a non-deal roadshow from November 18th to 24th. Dr. Minhua Chen, Chairman and CEO of the Company, and Mr. George Wung, the CFO of China Yida, will meet with securities analysts and investors in New York. This non-deal road show is being hosted by CCG Investor Relations. A copy of the presentation to be used for the conference and the roadshow will be posted on the Company's website at http://www.yidacn.net on or before November 20, 2009.

About China Yida

China Yida Holding Co. is a leading diversified entertainment enterprise focused on China's fast-growing media and tourism industries and headquartered in Fuzhou City, Fujian province of China. The Company's media business provides operations management services; including channel, column and advertisement management for television station, presently the Fujian Education Television Station ("FETV", a top-rated provincial education television station), and "Journey through China on the Train" ("CRTV", the only railway on-board media authorized by Ministry of Railways). Additionally, the Company provides tourism management services, and specializes in the investment and development of natural, cultural and historic scenic sites. China Yida currently operates the Great Golden Lake tourist destination (Global Geopark, including Golden Lake, Shangqing River, Zhuanyuan Rock, Luohan Mountain and Taining Old Town.), Hua'An Tulou tourist destination (World Culture Heritage, including Dadi Tulou cluster and the Shangping Tulou cluster), and China Yunding tourist destination (National Park, including Colorful Rock Valley, Yunding Paradise, Yunding Waterfall, South Heavenly Mountain, and Seven Star Lake). The Company's operating scenic sites are over 300 square kilometers in the area. For further information, please contact the Company directly, or visit its Web site at http://www.yidacn.net .

For more information, please contact: China Yida Holding Company George Wung, CFO Tel: +1-909-843-6358 Email: ir@yidacn.net CCG Investor Relations Crocker Coulson, President Tel: +1-646-213-1915 Ed Job, CFA Tel: +1-646-213-1914 Email: ed.job@ccgir.com Vivian Chen Email: vivian.chen@ccgir.com

    Third Quarter 2009 Highlights
    -- Total net revenue increased 79.3% to $14.0 million, compared to $7.8
       million in the third quarter of 2008
    -- Net revenue from the tourism business increased 176.3% year over year
       to $5.5 million, with a gross margin of 88.9%
    -- Net revenue from the media business increased 46.0%  year over year to
       $8.5 million, with a gross margin of 75.1%
    -- Gross profit grew 98.8% to $11.3 million, compared to $5.7 million in
       the same period last year
    -- Operating income grew 87.7% to $9.5 million, compared to $5.1 million
       in the third quarter of 2008
    -- Net income increased 45.6% to $7.1 million, compared to $4.9 million in
       the same period last year
    -- Fully diluted EPS increased 42.9% to $0.40 per share, compared to $0.28
       in the third quarter of 2008

Dr. Chen Minhua, Chairman and Chief Executive Officer of China Yida, stated, "We are very pleased to report another quarter of record results, and we particularly delighted with the traction we are getting from our tourism business, which delivered triple-digit year-over-year growth in the third quarter. As we enter the fourth quarter we continue to be excited about the opportunities to continue our rapid and profitable growth. As we announced recently, on October 1, 2009 we opened the Shangping Tulou cluster to visitors as a part of Hua'An Tulou, which brought in 11,000 visitors during this National holiday, compared to 52,000 visitors to the more established Great Golden Lake destination during the same period. We expect attendance and revenue contribution at existing and newly opened tourist attractions to continue to grow driven by our marketing efforts nationwide. Our advertising business also experienced strong growth this quarter driven by increase in demand for airtime at our FETV broadcasting station. Finally, we are also pleased with the progress we made with our 'Journey through China on a Train' infomercial as we continued to expand the number of rail lines and trains where our railway on-board programs are shown. This is an important part of our strategy to ensure that we can raise awareness about our tourism destinations all over the China."

Third Quarter 2009 Results

Total net revenue increased by 79.3% to $14.0 million, compared with $7.8 million in the third quarter of 2008.

Tourism Business

Net revenue from the tourism business increased 176.3% to $5.5 million, compared with $2.0 million in the third quarter of 2008. Cost of revenue from the tourism business, mainly consisting of Chinese business tax at a rate of 5% and depreciation of fixed assets at tourism destinations, was $0.6 million, down 32.2% from $0.9 million in the same period of last year. Gross margin from the tourism business was 88.9% for the third quarter of 2009, compared to 54.8% a year ago.

During the third quarter of 2009, the total number of visitors that entered the Great Golden Lake was around 161,000, an increase of 85%, compared with 87,000 in the same period of last year. Revenue from the Great Golden Lake totaled $4.9 million for the third quarter of 2009.

Subsequent to the end of the quarter China Yida registered a record number of visitors to the Great Golden Lake during China's National Holiday between October 1, 2009 and October 8, 2009. The site received a total of 52,000 visitors during the eight-day period, an increase of 13% compared with 46,000 in the same period of last year. In addition, on October 1, 2009 China Yida opened to visitors the Shangping Tulou cluster, part of Hua'An Tulou's World Heritage tourism destination. Tulou received 11,000 visitors during the National Holiday. The Company expects to attract 160,000 visitors in 2010 to this destination.

Media Business

Net revenue from the media business grew 46.0% to $8.5 million, compared with $5.8 million in the same period of last year. This increase was due to organic growth from advertising sales which resulted from the steady growth of FETV's audience rating which led to higher airtime sales. Cost of revenue from the media business, mainly including Chinese business tax at a rate of 8.5%, procurement cost for TV programs and depreciation of media equipment, was $2.1 million, up 71.0% from $1.2 million in the same period of last year. Gross margin for the media business was 75.1% for the third quarter of 2009, representing a slight decrease from 78.7% a year ago.

FETV's advertising time is sold mainly through about 15 advertising agencies, which are long-term partners. The three largest distributors account for 19% of FETV's revenues in total.

As of November 10, 2009, "Journey through China on the Train", Yida's railway on-board tourist infomercial program, is shown on 32 railroad lines including 27 high-speed railroad lines.

Gross profit for China Yida's consolidated operations was $11.3 million in the third quarter of 2009, representing a gross margin of 80.5%, compared to $5.7 million and 72.6 % for the comparable period of 2008.

Total operating expense increased by 195.6% to $1.7 million in the third quarter of 2009, compared with $0.6 million in the third quarter of 2008. Selling expenses for the three months ended September 30, 2009 rose 564.9% to $927,679 from $139,524 for the comparable period of 2008. The increase in selling expenses was driven by the higher maintenance cost at Great Golden Lake as a result of growing visitors there. General and administrative expenses increased 79.6% year over year to $0.8 million, which was in line with the Company' s business expansion and revenue growth.

Operating income increased by 87.7% to $9.5 million, compared with $5.1 million a year ago. Operating margin for the third quarter of 2009 was 68.2%, compared with 65.1% for the third quarter of 2008.

Net income for the third quarter of 2009 was $7.1 million, or $0.40 per diluted share, an increase of 45.6%, compared with a net income of $4.9 million, or $0.28 per diluted share, in the third quarter of 2008.

Nine Months Results

Total net revenue increased by 71.4% to $36.7 million, compared with $21.4 million for the nine months ended September 30, 2008. Net revenue from advertising increased by 35.5% to $23.0 million, compared with $16.9 million for the nine months ended September 30, 2008. Net revenue from the tourism business increased by 207.3% to $13.7 million, compared with $4.5 million for the nine months ended September 30, 2008.

During the first nine months of 2009, the total number of visitors that entered the Great Golden Lake was 474,000, an increase of 125.7% compared to 210,000 in the same period of last year. The revenues from the Great Golden Lake totaled $13.1 million for the first nine months of 2009.

During the first nine months of 2009, Hua'an Tulou has accepted 39,000 visitors, and contributed over $0.6 million of revenues to the Company. The Company expects to attract 160,000 visitors in 2010 to this destination.

Gross profit for the first nine months of 2009 increased 84.4% year over year to $29.3 million, with gross margin of 79.7%. Operating income increased by 75.3 % to $24.8 million, compared with $14.1 million in the first nine months of 2008.

Net income for the nine months ended September 30, 2009, was $19.6 million, or $1.11 per fully diluted share, an increase of 43.4% compared with a net income of $13.6 million, or $0.99 per share, for the comparable period of 2008.

Financial Condition

As of September 30, 2009, the Company reported $8.7 million in cash and cash equivalents, representing the same level with the year end of 2008. Working capital was $4.6 million with a current ratio of 2.0. As of September 30, 2009, the Company had $71.7 million in shareholders' equity compared to $52.1 million at the end of 2008. In the first nine months of 2009, China Yida generated $22.3 million in cash flow from operating activities. Capital expenditures were $24.9 million in the first nine months of the year and were primarily used for the construction of entertainment facilities at Yunding Park and Hua'an Tulou cluster.

For the first nine month period of 2009, China Yida has spent $23.1 million on Yunding Park, with a residual scheduled payment in the fourth quarter of 2009 at $8.8 million. The management believes the Company's current cash and operating cash flow will be sufficient to fund this project. Yunding Park, to be opened in the second quarter of 2010, will be the largest leisure tourism destination in Fuzhou, Fujian Province of China.

Business Outlook

Management believes that China Yida is well positioned to benefit from rapidly growing consumer spending on leisure activities in China as a result of increased disposable income and a growing middle class. A recent study by Euromonitor International (2009) forecast trips to tourist destinations are expected to increase at CAGR of 8% between 2008 and 2013, with annual real growth in spending of 13%. In addition, the uncertainty of global economic development will have very minimal impact on the Company's advertising business, as the Chinese economy is recovering rapidly from the recent economic downturn.

Looking forward, Yida's tourism business is expected to experience strong growth driven by existing and newly opened tourist attractions supported by marketing activities nationwide and the addition of services to the Company's scenic spots. The Company also expects moderate organic growth in advertising revenues from its existing media assets. In addition, China Yida will continue to evaluate opportunities to acquire additional TV stations in other provinces where management can find attractive opportunities to replicate its media and tourism business model to accelerate its profitable growth.

"In addition to strong organic growth we expect from our existing portfolio of tourism destinations, we see opportunities to accelerate our growth through acquisitions and other strategic partnerships in both tourism and media segments of our business. China's State Administration of Radio Film and Television is in the process of deregulating the industry to encourage the separation of production of content from broadcasting. This should create additional opportunities for the private sector to participate in the expected growth of the industry. We are now looking into opportunities of acquiring management rights to new tourist destinations as well as TV stations out of Fujian province," Dr. Chen added. "We feel confident to be able to replicate our unique and powerful business model in other parts of China, and build our business into world-class market leader in the years ahead."

Conference Call

China Yida will hold its third quarter 2009 conference call for all interested persons at 08:30 a.m. Eastern Time on Wednesday, November 18, 2009 to discuss its results. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1-888-419-5570. International callers should dial +1-617-896-9871. When prompted by the operator, mention conference passcode 94830817. If you are unable to participate in the call at this time, a replay will be available for 14 days starting on November 18, 2009 at 10:00 a.m. Eastern Time. To access the replay, dial 888-286-8010 or for international callers, dial +1-617-801-6888 and enter the passcode 912234481.

About China Yida

China Yida Holding Co. is a leading diversified entertainment enterprise focused on China's fast-growing media and tourism industries and headquartered in Fuzhou City, Fujian province of China. The Company's media business provides operations management services; including channel, column and advertisement management for television station, presently the Fujian Education Television Station ("FETV", a top-rated provincial education television station), and "Journey through China on the Train" ("CRTV", the only railway on-board media authorized by Ministry of Railways). Additionally, the Company provides tourism management services, and specializes in the investment and development of natural, cultural and historic scenic sites. China Yida currently operates the Great Golden Lake tourist destination (Global Geopark, including Golden Lake, Shangqing River, Zhuanyuan Rock, Luohan Mountain and Taining Old Town.), Hua'An Tulou tourist desintation (World Culture Heritage, including Dadi Tulou cluster and the Shangping Tulou cluster), and China Yunding tourist destination (National Park, including Colorful Rock Valley, Yunding Paradise, Yunding Waterfall, South Heavenly Mountain, and Seven Star Lake). The Company's operating scenic sites are over 300 square kilometers in the area. For further information, please contact the Company directly, or visit its Web site at http://www.yidacn.net .

Forward-Looking Statements

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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 .

FINANCIAL TABLES FOLLOW CHINA YIDA HOLDING CO. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) ASSETS September 30, 2009 December 31 2008 Current assets Cash and cash equivalents $8,723,966 $8,715,048 Accounts receivable, net 10,882 76,569 Prepaid and other receivables 383,905 76,759 Deferred income tax asset 164,664 -- Total current assets 9,283,418 9,032,546 Property, plant and equipment, net 33,350,392 34,173,009 Construction in progress 27,553,375 2,143,894 Intangible assets, net 8,247,801 9,358,333 Advances for property 440,100 -- Total assets $78,875,086 $54,543,613 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expense $153,077 $65,368 Loan payable 1,173,600 1,172,591 Other payable 1,108,206 456,181 Unearned revenue 454,071 6,597 Tax payables 234,552 214,900 Deferred income tax liability 15,565 -- Income tax payable 1,512,564 511,624 Total current liabilities 4,651,635 2,427,259 Loan payable, long term 2,495,190 -- Total liabilities 7,146,825 2,427,259 Commitments -- -- Stockholders' equity Preferred stock, par value $0.001 (10,000,000 shares authorized, 0 share issued and outstanding) -- -- Common stock, par value $0.0001 (100,000,000, shares authorized and 17,021,447 issued and outstanding as of June 30, 2009 and December 31, 2008) 1,702 1,702 Additional paid in capital 21,627,395 21,627,394 Accumulated other comprehensive income 3,192,887 3,134,077 Retained earning 46,906,278 27,353,180 Total stockholders' equity 71,728,261 52,116,353 Total liabilities and stockholders' equity $78,875,086 $54,543,613 CHINA YIDA HOLDING CO. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME (UNAUDITED) Nine month periods ended Three month periods ended September 30, September 30, 2009 2008 2009 2008 Net revenue Advertisement $22,970,469 $16,947,170 $8,487,986 $5,814,252 Tourism 13,739,897 4,471,293 5,508,354 1,993,757 Total net revenue 36,710,366 21,418,463 13,996,340 7,808,009 Cost of revenue Advertisement 5,777,139 3,621,435 2,117,464 1,238,597 Tourism 1,665,458 1,921,452 610,262 900,292 Total cost of revenue (7,442,596) (5,542,887) (2,727,726) (2,138,889) Gross profit 29,267,769 15,875,576 11,268,614 5,669,119 Operating expenses Selling expenses 2,205,129 533,097 927,679 139,524 Operating and administrative expenses 2,278,021 1,201,403 798,094 444,286 Total operating expenses 4,483,150 1,734,500 1,725,773 583,810 Income from operations 24,784,620 14,141,075 9,542,842 5,085,309 Other (income) expense Other (income) expense, net 93 3,083 (18,242) 6,059 Interest expense -- 115,226 -- 27,143 Interest income (28,745) (5,555) (3,317) (875) Total other (income) expense, net (28,652) 112,754 (21,558) 32,327 Income before income taxes 24,813,271 14,028,322 9,564,400 5,052,983 Provision for income taxes 5,260,174 396,568 2,422,562 149,186 Net income 19,553,098 13,631,754 7,141,838 4,903,797 Other comprehensive income Foreign currency Translation gain (loss) 58,810 2,059,334 101,238 271,150 Other comprehensive income $19,611,907 $15,691,088 $7,243,076 $5,174,947 Basic net earnings per share $1.15 $1.01 $0.42 $0.29 Basic weighted average shares outstanding 17,021,447 13,510,518 17,021,447 17,021,122 Diluted net earnings per share $1.11 $0.99 $0.40 $0.28 Diluted weighted average shares outstanding 17,655,738 13,777,185 17,863,857 17,287,789 CHINA YIDA HOLDING CO. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2009 AND 2008 (UNAUDITED) 2009 2008 CASH FLOWS FROM OPERATING ACTIVITIES Net Income $19,553,098 $13,631,754 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 1,079,388 297,897 Amortization 1,117,901 3,033,185 Bad debt expense -- 32,226 (Increase) / decrease in assets: Accounts receivables 65,713 (2,662) Other receivables 1,295,166 (154,944) Prepaid expenses (1,921) -- Deferred tax Advances (1,231,688) (123,717) Increase/(decrease) in current liabilities: -- -- Accounts payable and accrued expenses 88,414 61,505 Tax payables 869,154 (1,210,134) Unearned revenue 447,194 233,573 Accrued payroll 38,118 -- Other payable (985,423) (126,078) Net cash provided by operating activities 22,335,115 15,672,604 CASH FLOWS FROM INVESTING ACTIVITIES Additions to property & equipment (262,288) (6,004) Addition to construction in progress (24,665,863) (21,756,718) Purchase of intangible assets -- (6,435,835) Net cash used in investing activities (24,928,151) (28,198,557) CASH FLOWS FROM FINANCING ACTIVITIES Proceed from related party -- 901,450 Issuance of shares for cash -- 13,027,250 Loan proceeds (payments) 2,491,555 (895,383) Net cash provided by financing activities 2,491,555 13,033,317 EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 110,401 (13,331) NET INCREASE IN CASH AND CASH EQUIVALENTS 8,918 494,034 CASH AND CASH EQUIVALENTS, BEGINNING BALANCE 8,715,048 726,631 CASH AND CASH EQUIVALENTS, ENDING BALANCE $8,723,966 $1,220,665 SUPPLEMENTAL DISCLOSURES: Cash paid during the quarter for: Capitalized Interest $146,087 $-- Income tax payments $2,250,492 $100,795 Interest payments $65,405 $88,083 For more information, please contact: China Yida Holdings George Wung CFO Tel: +1-909-843-6358 Email: ir@yidacn.net CCG Investor Relations Crocker Coulson, President Phone: +1-646-213-1915 Ed Job, CFA Tel: +1-646-213-1914 Email: ed.job@ccgir.com

(Logo:

CCG is a global, full-service investor relations firm, headquartered in Los Angeles, CA, with offices in New York City, NY, Newport Beach and San Francisco, CA, Dallas, TX, Beijing, Shanghai and Tel Aviv. CCG is uniquely positioned to provide outsourced, high-level investor relations solutions to its clients, combined with an in-depth understanding of Asia's corporate culture and economic environment, to convey their story to funds and broker-dealers located in the U.S. For further information, contact CCG directly, or visit the Company's Web site at http://www.ccgir.com .

About China Yida

China Yida Holding Co. is a leading diversified entertainment enterprise focused on China's fast-growing media and tourism industries and headquartered in Fuzhou City, Fujian province of China. The Company's media business provides operations management services; including channel, column and advertisement management for television station, presently the Fujian Education Television Station ("FETV", a top-rated provincial education television station), and "Journey through China on the Train" ("CRTV", the only railway on-board media authorized by Ministry of Railways). Additionally, the Company provides tourism management services, and specializes in the investment and development of natural, cultural and historic scenic sites. China Yida currently operates the Great Golden Lake tourist destination (Global Geopark, including Golden Lake, Shangqing River, Zhuanyuan Rock, Luohan Mountain and Taining Old Town.), Hua'An Tulou tourist desintation (World Culture Heritage, including Dadi Tulou cluster and the Shangping Tulou cluster), and China Yunding tourist destination (National Park, including Colorful Rock Valley, Yunding Paradise, Yunding Waterfall, South Heavenly Mountain, and Seven Star Lake). The Company's operating scenic sites are over 300 square kilometers in the area. For further information, please contact the Company directly, or visit its Web site at http://www.yidacn.net .

Forward-Looking Statements

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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 .

    For more information, please contact:

    China Yida Holdings
     George Wung CFO
     Phone: +1-909-843-6358
     Email: ir@yidacn.net

    CCG Investor Relations
     Crocker Coulson, President
     Phone: +1-646-213-1915
     Ed Job, CFA
     Phone: +1-646-213-1914
     Email: ed.job@ccgir.com

(Logo:

    For more information, please contact:

    China Yida Holdings
     George Wung CFO
     Tel:   +1-909-843-6358
     Email: ir@yidacn.net

    CCG Investor Relations
     Crocker Coulson, President
     Tel: +1-646-213-1915

     Ed Job, CFA
     Tel:   +1-646-213-1914
     Email: ed.job@ccgir.com

(Logo:

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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 .

    For more information, please contact:

    China Yida Holdings
     George Wung CFO
     Tel:   +1-909-843-6358
     Email: ir@yidacn.net

    CCG Investor Relations
     Crocker Coulson, President
     Tel: +1-646-213-1915

     Ed Job, CFA
     Tel:   +1-646-213-1914
     Email: ed.job@ccgir.com

FUZHOU, China, May 21 /PRNewswire-Asia-FirstCall/ -- China Yida Holding Co., Ltd. (OTC Bulletin Board: CYID; "China Yida" or "the Company"), China's leading diversified entertainment company, today announced that visitations to the Great Golden Lake reached record-high levels during China's Labor Day holiday, which took place between May 1, 2009 and May 3, 2009. The Great Golden Lake received a total of 20,334 visitors during the three-day period, an increase of 38.7% compared with the same period last year.

According to the distribution of the tourism source market, the Great Golden Lake significantly expanded its tourism source market mainly in South of Fujian Province (Fujian Xiamen, Quanzhou, and Zhangzhou area) compared with last year's ''May 1'' Labor Day holiday. Tourists from South of Fujian Province accounted for 52.35% of the total number of tourists, an increase of 22.63% compared with the same period last year. As we've known, this achievement was because of the high enhancement of the Great Golden Lake's brand name recognition and the impact of the highway opening. (Fujian Quanzhou-the Great Golden Lake)

The highway (Fujian Quanzhou-the Great Golden Lake) was opened on March 15, 2009. The new driving distance from Fujian Xiamen, Quanzhou, Zhangzhou to the Great Golden Lake was reduced to 440 kilometers, 360 kilometers, and 490 kilometers respectively. It obviously improved the comfort and convenience of the trip, as there were more visitors to enjoy the Great Golden Lake during the weekend and the ''May 1'' Labor Day holiday.

The Great Golden Lake is not the only world-class tourist destination China Yida has engaged in. There is the other world-class tourist destination-Hua'an Tulou and the biggest tourist destination near cities of Fujian Province-China Yunding tourist destination. According to Dr. Chen Minhua, Chairman of China Yida, Hua'an Tulou tourist destination will be officially opened soon, and China Yunding tourist destination will be opened at the end of this year. These tourist destinations will use the national marketing networks of the Great Golden Lake, China Yida's own media channel-FETV and the publicity and promotional platform of the railroad transportation on-board program ("Journey through China on the Train") to achieve their rapid developments with low marketing cost. On the other hand, these two tourist destinations will also promote developments of the Great Golden Lake tourism business and China Yida's media business.

About China Yida

China Yida Holding Co. is a leading diversified entertainment company focused in China's emerging and fast-growing tourism and media markets. It is headquartered in Fuzhou City, Fujian province of China. The Company's media business provides operations management services, including channel, column and advertisement management for television stations (presently the Fujian Education Television Station (FETV) and railroad transportation on-board program ''Journey through China on the Train''). The company's tourism business also offers operations management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites (primarily the Great Golden Lake tourist destination, Hua'an Tulou tourist destination and China Yunding tourist destination.)

    For more information, please contact:

     George Wung
     CFO
     China YIDA Holding Co.
     Tel:   +1-626-379-2019
     Email: G.wung@yidacn.net

 
               U.S. and Canada:    (800) 357-0498
               International:      (850) 429-1388
               Conference ID:      5073

A replay of the call will be available two hours after completion. You will be able to access it at any time through the China Yida Website at www.yidacn.net, or by phone until April 21, 2009. To access the replay by phone, please dial:

 
               U.S. and Canada:    (866) 415-9493
               International:      (585) 419-6446
               Conference ID:      5073

To be added to the China Yida investor email list, please email G.Wung@yidacn.net with CYID in the subject line.

About China Yida

China Yida Holding Co. is a leading diversified entertainment company in China with current core business covering China's tourism, media and other entertainment-related industries and sectors. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida identifies, manages, operates and promotes tourist destinations, TV channels, entertainment-through-media or entertainment-through-tourism operations, and other core business related opportunities throughout China. China Yida's current operation portfolio includes: (i) Fujian Education Television station (FETV), a top-rated provincial television channel; (ii) "Journey through China on the Train," a paid program series with broadcasting rights covering China's current and upcoming high-speed-railways and all railways with TV units; (iii) Great Golden Lake, a large scale natural park (approximately 83 square miles) with Global Geopark title granted by United Nations; (iv) Dadi Tulou, a World Heritage site (by United Nations) integrates the wonder of ancient architectures, arts and cultures; (v) Yunding, a new large scale natural park with rare grasslands, waterfalls and lakes.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Factors that may affect these forward-looking statements include, among others, our sensitivity to economic conditions and consumer spending in China, competition in our industry, our ability to effectively manage our growth, our ability to raise capital in the future, changes in China's economic or political situation, and other factors set forth in our Annual Report on Form 10-KSB filed with the United States Securities and Exchange Commission or otherwise set forth from time to time in our other public filings. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date of this news release.

     Contact:
     China YIDA Holding Co.
     George Wung
     Chief Financial Officer
     Phone: +1 (626) 379-2019
     Email Contact

RMC Initiates Cooperation with China Yida Successfully Lands on a National Media Platform

RMC engages in filming and producing television and audio programs on behalf of the Chinese Ministry of Railway. Their television program broadcast network covers all the large and medium cities in every province and the surrounding areas of the railway operated by 18 Railway Bureaus. Their television program broadcasted on trains will cover all the high-speed motor train units, and seven Tibet train lines. Passengers on long trips hope to enjoy relaxing programs related to travel and also obtain travel tips. Due to the lack of professionals, railroad television programs have been of low quality, failing to meet the needs of the public. Therefore, the Ministry of Railway is in urgent need to resolve this problem.

FETV is a leading comprehensive tourism and media management company with successful practical experience, professional and competitive media management team, extensive customer and social network. In consideration of the Company's qualifications, RMC initiated negotiation with the Company to explore cooperation opportunities. After their initial meeting, the Company promptly planned and produced the Journey Program. The Ministry of Railway highly evaluated the Journey Program, acknowledging that the Journey Program represents the style and quality of railway television program they have been contemplating for a long time but failed to produce. Active and relaxing, the Journey Program hosts present tourist information and various tourism destinations around the country in humorous and joyful style.

The Journey Program comprises four 20-minute episodes, namely "Landscapes Appreciation," Photography and Traveling," "Traveling on the Way," and "Travel Tips." Each segment can be sold and operated independently. 15'' commercials can be inserted into each segment break eight times. These commercials as part of the Journey Program will be broadcasted to passengers traveling on Tibet train lines and high-speed motor train units daily on a rolling basis, and the national railway television broadcast network weekly on a rolling basis.

Significant Impact on China Yida's Successful Business Expansion Model

The cooperation between the Company and RMC involves three major television broadcast platforms, consisting of the Tibet train lines, motor train units, and national railway television network, covering all the major cities (Beijing, Tianjin, Shanghai, Nanjing, Guangzhou, Shenzhen, Jinan, Qingdao and etc.), seven train lines into Tibet, millions of traveling population, approximately 2,600,000 households, 10,400,000 residents in the surrounding areas of railway. Most importantly, in an enclosed train car, the Journey Program will easily obtain passengers' attention. Further, passengers on the Tibet train lines and motor train units having high consumption ability and potential are always the targeted advertising population of various industries, such as travel, automobile, real estate, communication, apparel, accessories and luxury commodities. Therefore, the Journey Program has tremendous market penetration ability and operation potential.

Dr. Chen Minhua, Chairman of the Company, happily stated that this project would significantly propel China Yida's media management expansion and multi-dimensional operation.

Firstly, the Chinese Ministry of Railways highly recognized the Company's "Tourism-Media" development strategy business model that will be well accepted and reproduced nationally, which can potentially enhance the Company's reputation in the national media industry.

Secondly, the project also brings significant economic benefit. The Company relies on its own professional expertise and leading position in tourism and media industry. Therefore, with low operation costs, the Company can generate significant economic benefits.

Thirdly, the project has significant operational growth potential. The aggregate mileage of China's railway system is approximately 77,083.8 kilometers, with its length ranked as the first in Asia and the third in the world. As the main artery of China's economic growth, the railway is the main transportation vehicle for Chinese people. According to the statistics of the Ministry of Railways, the railway carried 1,700,000,000 passengers in 2007. In 2010, the railway will carry 2,000,000,000 passengers annually and this number will reach 4,000,000,000 in 2020. The average time that each passenger spends on train is about 15 hours. Therefore, the railway television media will become a new media industry. Pursuant to the Agreement, the Journey Program will be broadcast in the same manner on all newly installed train television network after the effective date of this Agreement. As a result, such project will bring good prospect for Chinese's future management development.

Fourthly, this project will build a new promotion platform for the tourism destinations operated by the Company, not only reducing its operation cost, but also promoting the brand names of these destinations. At the same time, China Yida's large number of travel advertisement clients will become potential partners in its development of travel industry.

In general, this Agreement demonstrates the successful development of China Yida's unique business model, and strengthens our leading position in China's tourism and media management.

    For more information, please contact:

     George Wung
     CFO
     China YIDA Holding Co.
     Tel:   +1-626-379-2019
     Email: G.wung@yidacn.net

Entry into a Material Definitive Agreement, Regulation FD Disclosure

Dr. Chen Minhua, Chairman of China Yida, said, 'We are pleased to partner with the Yongtai County government to develop the largest leisure site in Fujian. We are confident that we can transform this site into a world-class leisure and vacation resort attracting visitors from neighboring coastal areas such as Fuzhou, Xiamen, Quanzhou and Putian, as well as from other parts of China and overseas.

'China Yida signed the final agreement with the Yongtai County government only one month after signing the letter of intent, which demonstrates our efficiency and good-standing relationship with the local government. We have already completed a marketing and investment feasibility study, as well as a branding awareness plan allowing us to immediately begin our construction process. With this site, we initiated a new approach of generating revenue early on by launching our operations during the construction process enabling us to reap benefits soon after development begins. This collaboration represents a significant milestone for the Company as it further strengthens our tourism business in the Fujian area,' Dr. Chen added.

Under the terms of the agreement with the Yongtai County government, China Yida will own the operational and management rights to this site for 40 years, which reduces the risks and uncertainties related to the investment and contributes to China Yida's ability to secure a long-term return on investment. To its advantage, China Yida will not be required to pay the transfer fee for the management rights up front; rather, the cost of securing the management rights will be sourced from a percentage of site admission revenue and a percentage of revenue from other government-franchised operations associated with the destination. Additionally, in the event of termination or early termination by the Yongtai County government for any reason not related to a change in government regulation, the Yongtai County government will repurchase all of the tangible assets and part of the intangible assets from China Yida relating to the Company's investment in the development process at fair market value.

This tourism site is located in Yongtai County, which is approximately 45 kilometers away from Fuzhou, the capital of Fujian province. Surrounded by the low clouds and fog, the entire scenic site has a total area of 48 square kilometers and an altitude of 1,100 meters. This destination features more than 7 square kilometers of mountainous grassland, a 70 million year-old volcanic geological structure, an aboriginal volcanic waterfall, and a large- scale terrace and village with more than 1,000 years of history.

About China Yida

China Yida Holding Co. is a leading management company focused on China's emerging and fast-growing media and tourism markets. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida provides media operations management services, including channel, column and advertisement management for television stations. It presently operates the Fujian Education Television station (FETV), a top-rated provincial education television station, whose advertisement management rights are wholly-owned by the Company. Additionally, the Company provides tourism management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites. China Yida currently manages the Great Golden Lake's five scenic attractions: Golden Lake, Shangqing River, Zhuanyuan Rock, Luohan Mountain and Taining Old Town. China Yida has plans to further expand its portfolio in both the media and tourism businesses.

Forward-Looking Statement

Certain statements in this press release that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as 'anticipate, 'believe,' 'expect,' 'future,' 'may,' 'will,' 'would,' 'should,' 'plan,' 'projected,' 'intend,' and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the 'Company') to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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 www.sec.gov .

    For more information, please contact:

    China Yida Contact:
     Ms. Chen Xiao Xing
     Vice President
     Phone: +86-591-2830-8999
     Email: chenxx@yidacn.net

    Investor Relations Contacts:
     Devin Jin
     Taylor Rafferty, Shanghai
     Phone: +86-21-6289-5658
     Email: ChinaYida@taylor-rafferty.com

     Delia Cannan
     Taylor Rafferty, New York
     Phone: +1-212-889-4350
     Email: ChinaYida@taylor-rafferty.com

SOURCE China Yida Holding Co., Ltd.

    Third Quarter 2008 Financial Highlights
    -- Total net revenue increased by 1.3% to $7.8 million, compared with $7.7
       million in the 2007 third quarter.
    -- Net revenue from the media business decreased by 7% to $5.8 million,
       compared with $ 6.2 million in the 2007 third quarter.
    -- Net revenue from the tourism business increased by 33% to $2.0 million,
       compared with $1.5 million in the 2007 third quarter.
    -- Operating income decreased by 16% to $ 5.1 million, compared with $6.1
       million in the 2007 third quarter.
    -- Net income decreased by 20% to $4.9 million, compared with $6.1 million
       in the 2007 third quarter.

    Nine Months Ended September 30, 2008 Financial Highlights
    -- Total net revenue increased by 87% to $21.4 million, compared with
       $11.4 million for the nine months ended September 30, 2007.
    -- Net revenue from the media business increased by 110% to $16.9 million,
       compared with $8.1 million for the nine months ended September 30, 2007.
    -- Net revenue from the tourism business increased by 32 % to $4.5 million,
       compared with $3.4 million for the nine months ended September 30, 2007.
    -- Operating income increased by 76 % to $14.1 million, compared with $8.0
       million in the first nine months of 2007.
    -- Net income increased by 76 % to $13.6 million, compared with $7.7
       million in the first nine months of 2007.

Dr. Chen Minhua, Chairman of China Yida, stated, 'We are pleased to report significant growth in total revenue for the first nine months of 2008, with particularly strong FETV advertisement sales revenue. Our established partnerships with Fuzhou Fengzhong Media and major newspaper outlets in Fujian have enhanced our foundation for steady long-term growth in our media business. We also have seen incremental growth in our tourism business in the first nine months of 2008, as admissions to our Great Golden Lake site increased by 90% over the first nine months of 2007.

'Additionally, we have made significant progress in expanding our media and tourism businesses. We recently signed a letter of intent with Yongtai County Government to develop the largest leisure tourism destination in Fuzhou, which will further our leadership position in the tourism business in Fujian province. This milestone shows successful execution of our unique business model, which leverages the synergies between our tourism and media businesses to build promising and stable long-term growth.

'As we look ahead into the fourth quarter of 2008, we believe that softening global economic conditions will have minimal impact on our business operations. We believe our Company fundamentals remain strong and that our progress year-to-date has shown that we are well positioned for long-term growth. We expect to expand our revenue stream by developing more tourist destinations and continue to focus on the domestic Chinese market as our target market for visitors. During the past National Week holiday, we experienced a record high number of visitors at the Great Golden Lake and expect that the number of visitors to our site will continue to grow as we expand our operations. We have sufficient cash on hand to support growth, and we are continuously seeking additional strategic expansion projects that make financial sense in order to build value for our shareholders,' Dr. Chen concluded.

Tourism Business Highlights

Signed Letter of Intent with Yongtai County Government. Pending final government approval of the agreement, China Yida will develop the largest leisure tourism destination in Fuzhou. This tourism destination is an ideal site for recreation and vacation, and has great potential to become a world class resort that attracts more than 10 million leisure visitors from neighboring coastal areas such as Xiamen, Quanzhou and Putian. In addition, it may also attract other leisure travelers from other cities in China, as well as business travelers to Fuzhou and Xiamen.

Under the terms of the letter of intent, China Yida will have operational and management rights to the site for 40 years, which reduces the risks and uncertainties related to the investment and contributes to China Yida's ability to secure a long-term return on investment. China Yida will not be required to pay the transfer fee for the management rights up front; rather, the cost of securing the management rights will be sourced from a percentage of site admission revenue and a percentage of revenue from other government-franchised operations associated with the site. Additionally, in the event of termination or early termination by Yongtai County Government not relating to a change in government regulation, the Yongtai County Government will repurchase the tangible and intangible assets related to China Yida's investment in the development of the site at fair market value.

Great Golden Lake Tourist Destination. During the first nine months of 2008, the total number of visitors that entered the Great Golden Lake was 210,000, an increase of 90% compared with the same period last year. Additionally, China Yida reported a record number of visitors during China's National Holiday between September 29, 2008 and October 5, 2008. The site received a total of 46,000 visitors during the seven-day period, an increase of 52% compared with the same period last year.

Media Business Highlights

FETV and FFZM. China Yida commenced a strategic partnership with Fuzhou Fen-Zhong media (FFZM), one of the largest land and outdoor advertising media in Fuzhou.

Television-Newspaper Alliance. China Yida formed a television-newspaper alliance with three major independent newspapers in Fujian: Southeast Express, Strait Capital and Fuzhou Evening.

Third Quarter 2008 Unaudited Financial Results

Total net revenue increased by 1.3% to $7.8 million, compared with $7.7 million in the 2007 third quarter. Net revenue from the media business decreased by 7% to $5.8 million, compared with $ 6.2 million in the 2007 third quarter. Net revenue from the tourism business increased by 40% to $2.0 million, compared with $1.5 million in the 2007 third quarter.

Gross profit was $ 5.7 million in the third quarter of 2008, representing a gross margin of 73%. This compares with gross profit of $6.5 million and a gross margin of 84 % in the third quarter of 2007.

Total operating expenses increased by 20% to $0.6 million in the third quarter of 2008, compared with $0.5 million in the third quarter of 2007, as a result of the investment to transform and improve FETV's programs to be completed by the end of the year.

Operating income decreased by 16% to $ 5.1 million, compared with $6.1 million in the 2007 third quarter. Operating margin for the third quarter of 2008 was 64%, compared with 78% for the third quarter of 2007. The decrease in operating income in the third quarter was primary attributed to the increase in expenses incurred in the FETV program transformation.

China Yida reported a net income for the third quarter of 2008 of $4.9 million, or $0.07 per diluted share, compared with a net income of $6.1 million, or $0.65 per diluted share, for the third quarter of 2007.

Nine Months Ended September 30, 2008 Unaudited Financial Results

Total net revenue increased by 88% to $21.4 million, compared with $11.4 million for the nine months ended September 30, 2007. Net revenue from the media business increased by 110% to $16.9 million, compared with $8.1 million for the nine months ended September 30, 2007. Net revenue from the tourism business increased by 32% to $4.5 million, compared with $3.4 million for the nine months ended September 30, 2007.

Gross profit of $15.9 million represented a gross margin of 74% in the first nine months of 2008. This compares with gross profit of $9.3 million and gross margin of 82 % in the corresponding period last year.

Total operating expenses for the first nine months of 2008 were $1.7 million, versus $1.3 million in the comparable period in 2007, primarily attributed to the retransformation of FETV's programs in the third quarter.

Operating income increased by 76 % to $14.1 million, compared with $8.0 million in the first nine months of 2007.

For the nine months ended September 30, 2008, China Yida reported a net income of $13.6 million, an increase of 77% compared with a net income of $7.7 million for the nine months ended September 30, 2007.

Liquidity

Cash and cash equivalents as of September 30, 2008 were $1.4 million, compared with $726,631 as of December 31, 2007.

Operating cash flow for the nine months ended September 30, 2008 increased by 65 % to $15.7 million, compared with $9.5 million for the nine month period ended September 30, 2007.

Outlook

Over the course of the next few years, we intend to grow and expand our tourism and mass media marketing businesses. We expect to acquire additional tourist areas that will enhance our reputation as a world-class company that develops and manages tourist attractions. These acquisitions will be financed either through revenues of the Company or by financings and sales of the Company's stock or other securities.

With respect to the mass media business, China Yida expects to achieve growth by obtaining the operational management rights of other television network or to cooperate with strategic partners to co-develop a television channel or column via its innovative business model.

About China Yida

China Yida Holding Co. is a leading management company focused on China's emerging and fast-growing media and tourism markets. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida provides media operations management services, including channel, column and advertisement management for television stations. It presently operates the Fujian Education Television station (FETV), a top-rated provincial education television station, whose advertisement management rights are wholly-owned by the Company. Additionally, the Company provides tourism management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites. China Yida currently manages the Great Golden Lake's five scenic attractions: Golden Lake, Shangqing River, Zhuanyuan Rock, Luohan Mountain and Taining Old Town. China Yida has plans to further expand its portfolio in both the media and tourism businesses.

Forward-Looking Statement

Certain statements in this press release that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as 'anticipate, 'believe,' 'expect,' 'future,' 'may,' 'will,' 'would,' 'should,' 'plan,' 'projected,' 'intend,' and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the 'Company') to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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 .

                    CHINA YIDA HOLDING CO. AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEETS

                                                       September    December
                                                        30, 2008    31, 2007
                                                       (Unaudited)

                                     ASSETS
    Current assets
    Cash and cash equivalents                          $1,373,184    $726,631
    Accounts receivable                                     4,988      21,965
    Due from related party                                     --     351,450
    Other current assets                                  429,419      60,705
    Total current assets                                1,807,591   1,160,751

    Property, plant and equipment, net                  8,456,954   8,184,546
    Construction in progress, net                      22,609,581     278,803

    Intangible assets, net                              9,934,864   3,956,885

    Long-term prepaid expenses                          7,907,641   9,459,052

    Total assets                                      $50,716,630 $23,040,037

                      LIABILITIES AND SHAREHOLDERS' EQUITY
    Current liabilities
    Accounts payable and accrued expense                 $320,893    $240,988
    Loan payable                                        1,173,313   1,919,228
    Other payable                                         402,136     449,507
    Due to related parties                                550,000          --
    Unearned revenue                                      384,969     135,945
    Tax payables                                          498,711   1,626,099

    Total current liabilities                           3,330,022   4,371,767

    Stockholders' equity
    Preferred stock (10,000,000 shares authorized,
     1 share issued and outstanding, par value
     $0.001)                                                   --          --
    Common stock (100,000,000 shares authorized and
     68,084,487 and 9,999,955 issued and outstanding
     as of September 30, 2008 and December 31, 2007,
     par value $0.001)                                     68,085      10,000
    Additional paid in capital                         21,561,012   8,591,847
    Accumulated other comprehensive income              3,063,678   1,004,344
    Retained earning                                   22,693,833   9,062,079

    Total stockholders' equity                         47,386,608  18,668,270

    Total liabilities and stockholders' equity        $50,716,630 $23,040,037




                   CHINA YIDA HOLDING CO. AND SUBSIDIARIES
       CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
    FOR THE NINE AND THREE MONTH PERIODS ENDED SEPTEMBER 30, 2008 AND 2007
                                 (Unaudited)

                           Nine Month Periods          Three Month Periods
                          Ended September 30,          Ended September 30,
    Net revenue            2008         2007            2008         2007
    Advertisement       $16,947,170    $8,061,125    $5,814,252   $6,235,254
    Tourism               4,471,293     3,365,249     1,993,757    1,481,229
    Total net revenue    21,418,463    11,426,374     7,808,009    7,716,483

    Cost of revenue
    Advertisement         3,621,435     1,548,091     1,238,597      839,490
    Tourism               1,921,452       597,831       900,292      333,726
    Total cost of
     revenue             (5,542,887)   (2,145,922)   (2,138,889)  (1,173,216)

    Gross profit         15,875,576     9,280,452     5,669,119    6,543,266

    Operating expenses
    Selling expenses        533,097       324,211       139,524      125,359
    Operating and
     administrative
     expenses             1,201,403       953,106       444,286      357,575
    Total operating
     expenses             1,734,500     1,277,317       583,810      482,934

    Income from
     operations          14,141,075     8,003,135     5,085,309    6,060,333

    Other (income)
     expense
    Other expense, net        3,083        11,449         6,059        5,972
    Interest expense        115,226       179,637        27,143       53,503
    Interest income          (5,555)         (839)         (875)         (61)

    Total other expense     112,754       190,247        32,327       59,414

    Income before
     income taxes        14,028,322     7,812,888     5,052,983    6,000,919

    Provision (benefit)
     for income taxes       396,568        79,089       149,186     (142,743)

    Net income           13,631,754     7,733,800     4,903,797    6,143,662

    Other comprehensive
     income
    Foreign currency
     translation gain     2,059,334       308,646       271,150      121,847

    Other comprehensive
     income             $15,691,088    $8,042,446    $5,174,947   $6,265,509

    Basic net earnings
     per share                $0.25         $0.82         $0.07        $0.65
    Basic weighted
     average shares
     outstanding         54,042,072     9,401,597    68,084,487    9,401,597

    Diluted net earnings
     per share                $0.25         $0.82         $0.07        $0.65
    Diluted weighted
     average shares
     outstanding         55,108,739     9,401,597    69,151,154    9,401,597




                     CHINA YIDA HOLDING CO. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
            FOR NINE MONTH PERIODS ENDED SEPTEMBER 30, 2008 AND 2007
                                   (Unaudited)

                                                         2008        2007

    CASH FLOWS FROM OPERATING ACTIVITIES
    Net Income                                       $13,631,754  $7,733,800
    Adjustments to reconcile net income to net cash
     provided by operating activities:
    Depreciation                                         297,897     267,262
    Amortization                                       3,033,185     116,341
    Bad debt reserve                                      32,226          --
    (Increase) / decrease in assets:
       Accounts receivables                               (2,662)     97,525
       Other current assets                             (154,944)     (6,591)
       Inventories                                            --      (3,802)
      Advances                                          (123,717)    208,823
      Increase/(decrease) in current liabilities:
       Accounts payable and accrued expenses              61,505     (91,118)
       Tax payable                                    (1,210,134)    735,784
       Unearned revenue                                  233,573     115,295
       Other payable                                    (126,078)    328,351

    Total Adjustments                                  2,040,850   1,767,870

    Net cash provided by operating activities         15,672,604   9,501,670

    CASH FLOWS FROM INVESTING ACTIVITIES
    Acquisition of property & equipment                   (6,004)   (204,363)
    Payments to construction in progress             (21,756,718) (2,208,496)
    Investment in intangible assets                   (6,435,835)         --
    Net cash used in investing activities            (28,198,557) (2,412,859)

    CASH FLOWS FROM FINANCING ACTIVITIES
    Proceed from related parties                         901,450          --
    Issuance of shares for cash                       13,027,250     398,883
    Loan payments                                       (895,383) (9,439,379)
    Net cash provided by (used in) financing
     activities                                       13,033,318  (9,040,496)

    EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH
     EQUIVALENTS                                         139,189     131,438

    NET INCREASE (DECREASE) IN CASH AND CASH
     EQUIVALENTS                                         646,553  (1,820,247)

    CASH AND CASH EQUIVALENTS, BEGINNING BALANCE         726,631   2,169,159

    CASH AND CASH EQUIVALENTS, ENDING BALANCE         $1,373,184    $348,912

    SUPPLEMENTAL DISCLOSURES:                               0.00

         Income tax payments                            $172,783         $--

         Interest payments                               $87,677    $179,637


    For more information, please contact:

    China Yida Contact:
     Mr. Wang Huanqing
     Vice President, Finance
     China Yida Holding Company
     Tel:   +86-591-2830-8999
     Email: lionwung@163.com

    Investor Relations Contacts:
     Devin Jin
     Taylor Rafferty, Shanghai
     Tel:   +86-21-6289-5658
     Email: ChinaYida@taylor-rafferty.com


    Investor Relations (US):
     Delia Cannan
     Taylor Rafferty, New York
     Tel:   +1-212-889-4350
     Email: ChinaYida@taylor-rafferty.com

SOURCE China Yida Holding Company

Dr. Chen Minhua, Chairman of China Yida, stated, 'We are pleased to launch a Company website that provides our shareholders with such a full scope of information. Effective communication with the investing public is important to our company, and this comprehensive, sophisticated and well-organized website is an important step forward in this process.'

The site includes information on China Yida's media and tourism businesses, including information on the Company's past achievements and current projects, such as FETV, the television station managed by China Yida, and the Great Golden Lake, the major tourist destination managed by China Yida.

About China Yida

China Yida Holding Co. is a leading management company focused on China's emerging and fast-growing media and tourism markets. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida provides media operations management services, including channel, column and advertisement management for television stations. It presently operates the Fujian Education Television station (FETV), a top-rated provincial education television station, whose advertisement management rights are wholly-owned by the Company. Additionally, the Company provides tourism management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites. China Yida currently manages the Great Golden Lake's five scenic attractions: Golden Lake, Shangqing River, Zhuanyuan Rock, Luohan Mountain and Taining Old Town. China Yida has plans to further expand its portfolio in both the media and tourism businesses.

Forward-Looking Statement

Certain statements in this press release that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as 'anticipate, 'believe,' 'expect,' 'future,' 'may,' 'will,' 'would,' 'should,' 'plan,' 'projected,' 'intend,' and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the 'Company') to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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 .

    For more information, please contact:

    China Yida Contact:
     Ms. Chen Xiao Xing
     Vice President
     Phone: +86-591-2830-8999
     Email: chenxx@yidacn.net

    Investor Relations Contacts:
     Devin Jin
     Taylor Rafferty, Shanghai
     Phone: +86-21-6289-5658
     Email: ChinaYida@taylor-rafferty.com

    Investor Relations (US):
     Delia Cannan
     Taylor Rafferty, New York
     Phone: +1-212-889-4350
     Email: ChinaYida@taylor-rafferty.com

SOURCE China Yida Holding Company

FUZHOU, China, Oct. 14 /Xinhua-PRNewswire-FirstCall/ -- China Yida Holding Co., Ltd. (OTC Bulletin Board: CYID; 'China Yida' or 'the Company'), a leading tourism and media management company, today announced that visitations to the Great Golden Lake reached record-high levels during China's National Day holiday, or 'golden week,' which took place between September 29, 2008 and October 5, 2008. The Great Golden Lake, which consists of the Golden Lake, Shangqing River, Zhuangyan Rock, Luohan Mountain and the ancient city of Taining, received a total of 46,000 visitors during the seven-day period, an increase of 52% compared with the same period last year.

Dr. Chen Minhua, Chairman of China Yida, said, 'We are very pleased that total visitation at the Great Golden Lake during the Holiday week exceeded internal expectations. Along with our partners including Guangzhilv International Travel Agency, Nanjing Municipal Tourism Association and Taiwan's Sun-Moon Lake tourist destination, we launched extensive marketing and advertising initiatives on China's largest broadcasting station, CCTV, and other major media outlets within and outside Fujian province to enhance our sales efforts for the 'golden week' and beyond. Moreover, we successfully expanded the Great Golden Lake's target market beyond Fujian to include regions in the Yangtze River Delta, Pearl River Delta and Taiwan. Of the total number of visitors during the holiday week, Guangdong province made up of 13.1%, Jiangsu 10.3%, Shanghai 8.6% and Taiwan 2.6%.'

Self-arranged individual or family tours, as opposed to travel agency group tours, are becoming more prevalent in China's domestic tourism market. There were more than 15,000 vehicles that entered the Great Golden Lake during the holiday week, and the proportion of the self-arranged visitors, including those travelling by private cars, accounted for more than 60% of the total number of tourists at the Great Golden Lake during the National Day holiday week.

'With the Great Golden Lake becoming a more established tourism destination in Fujian and its neighboring provinces, we are pleased to report that our media business is also growing steadily. The Company maintains a healthy balance sheet as both our tourism and media businesses are operating smoothly. Our assets and liabilities are at reasonable and expected levels, and the Company's net cash position remains strong and sufficient for continued growth. We plan to advantageously grasp the increasing opportunities in the Chinese tourism market, and seek partnership with additional tourist destinations or media outlets that have great potential for revenue expansion bringing China Yida's tourism and media businesses to a new and higher level,' Dr. Chen Minhua added.

About China Yida

China Yida Holding Co. is a leading management company focused in China's emerging and fast-growing tourism and media markets. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida offers operations management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites (primarily the Great Golden Lake's five scenic attractions: Golden Lake, Shangqing River, Zhuangyuan Rock, Luohan Mountain and the Ancient City of Taining). The Company's media business also provides operations management services, including channel, column and advertisement management for television station (presently the Fujian Education Television station (FETV), a top-rated education television station at the provincial level whose advertisement management rights are wholly-owned by the Company).

Forward-Looking Statement

Certain statements in this press release that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as 'anticipate, 'believe,' 'expect,' 'future,' 'may,' 'will,' 'would,' 'should,' 'plan,' 'projected,' 'intend,' and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the 'Company') to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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.

    For further information, please contact:

    China Yida Contact:
     Ms. Chen Xiao Xing
     Vice President
     Tel:   +86-591-2830-8999
     Email: chenxx@yidacn.net

    Investor Relations Contacts:
     Devin Jin
     Taylor Rafferty, Shanghai
     Tel:   +86-21-6289-5658
     Email: ChinaYida@taylor-rafferty.com

     Delia Cannan
     Taylor Rafferty, New York
     Tel:   +1-212-889-4350
     Email: ChinaYida@taylor-rafferty.com

SOURCE China Yida Holding Co., Ltd.

China Yida and FFZM, as strategic partners, have entered into a media swap agreement whereby each will be able to air advertisements promoting its events and programs on the other's network. During the cooperation period, FETV, China Yida's wholly owned advertisement management rights' education television station, will serve as a television media platform to broadcast FFZM's advertisements in Fujian Province, while FFZM will offer three media advertising platforms for FETV's program and media event advertisements. This agreement extends FETV and FFZM's history of collaborations on program and event promotions to broaden both their potential advertising audiences.

FFZM and FETV both focus their marketing efforts on the business elite, who have demonstrated strong consumption patterns. FETV program advertisements are broadcast over the air, as well as over 'new media' channels, which attract attention from the business elite and potential customers effectively throughout the day. FFZM's office space television advertising network covers roughly 85% of the commercial buildings in Fuzhou. Its network of express-way TV channels covers more than 200 deluxe express buses, and its airport bus radio station is broadcast over more than 20 routes between Fuzhou and the airport. As a result of this cooperation, FETV station can potentially directly influence 630,000 businessmen per day and 16.9 million people per month, laying a foundation for FETV to boost its audience ratings and explore new cooperation opportunities for advertisements and promotions.

Dr. Chen Minhua, Chairman of China Yida, commented, 'Our media swap agreement with FFZM is a landmark event for FETV, allowing us to leverage opportunities offered by CETV, the nationally aired television platform, as well as a chance for FETV to launch land media campaigns through the strategic partnership between FETV and FFZM.

'China Yida has begun to execute its vertical and horizontal media development strategy for FETV. It has deployed its external win-win strategy through horizontal cooperation with other media and related industries following its successful execution of its vertical internal joint development strategy among affiliated scenic spots and media. At present, on the vertical integration front, FETV is actively cooperating with national-level TV media and planning a branded TV program. On the horizontal side, FETV is negotiating with many provincial and municipal TV media companies to obtain management rights and is in discussions with an influential newspaper to set up a television/newspaper alliance with the print media segment,' Dr. Chen continued. 'China Yida's steady implementation of its development strategy will no doubt bring more business opportunities, helping it to broaden its influence among its target audiences and augment its position in the media industry.'

About China Yida

China Yida Holding Co. is a leading management company focused in China's emerging and fast-growing tourism and media markets. Headquartered in the city of Fuzhou, in China's Fujian province, China Yida offers operations management services, including management consultation, and specializes in the investment and development of natural, cultural and historic scenic sites (primarily the Great Golden Lake's five scenic attractions: Golden Lake, Shangqing River, Zhuangyuan Rock, Luohan Mountain and Taining Old Town.) The Company's media business also provides operations management services, including channel, column and advertisement management for television stations (presently the Fujian Education Television station (FETV), a top-rated education television station at the provincial level whose advertisement management rights are wholly-owned by the Company).

About Fuzhou FEN-ZHONG Media (FFZM)

Incorporated in 2002, Fuzhou FEN-ZHONG Media is one of the largest media organizations focusing on video media in Fujian Province. FFZM takes focus television network of commercial buildings, high-speed channel car mobile television network and Fuzhou airport bus broadcast network as its primary business. Its media network has wide coverage, with concentrated target groups and notable publicity effect. At present it has become the most influenced telecasting platform in Fujian province.

Forward-looking Statement

Certain statements in this press release that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as 'anticipate, 'believe,' 'expect,' 'future,' 'may,' 'will,' 'would,' 'should,' 'plan,' 'projected,' 'intend,' and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of China Yida Holding Co., Inc. (the 'Company') to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated 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.'

    For more information, please contact:

    China Yida Contact:
     Ms. Chen Xiao Xing
     Vice President
     Tel:   +86-591-2830-8999
     Email: chenxx@yidacn.net

    Investor Relations Contacts:
     Devin Jin
     Taylor Rafferty, Shanghai
     Tel:   +86-21-6289-5658
     Email: ChinaYida@taylor-rafferty.com

     Delia Cannan
     Taylor Rafferty, New York
     Tel:   +1-212-889-4350
     Email: ChinaYida@taylor-rafferty.com

SOURCE China Yida Holding Co., Ltd.