ORLANDO, Fla., Nov. 19, 2008 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has initiated coverage on China Display Technologies, Inc. (OTC BB:CDYT.OB - News), a company that designs, manufactures, and markets full-range light emitting diodes, known as LEDs; and cold cathode fluorescent lamps, known as CCFLs, for various types of displays.

Harry Russell, MBA, RedChip Research Analyst, reported:

``CDYT occupies markets that are absolutely enormous, which gives ample revenue potential for the Company in the short term. CDYT's current business of small- and medium-size backlight units (BLUs) is competitive in and of itself. Once the Company moves into both large-size BLUs and High Powered LEDs, the markets get much larger but the competition also grows proportionately.

``By looking at CDYT's business model, margins, and growth rate with respect to some of its public peers, the Company appears undervalued. By almost every operating metric, the Company is superior to its peer group and yet trades at a market capitalization of only a fraction. Although the Company is within the range of its peers on the gross margin line, it is clearly stronger on both the operating and net income lines. This disparity is not being recognized by the market and as the economy recovers, we should see this disparity close as long as the Company continues to execute,'' continued Russell.

``Although we concede to a very challenging economic environment and are certainly respectful of a recessionary end of 2008 and beginning of 2009, we feel that CDYT has ample opportunities nonetheless. In these difficult times, the industry will certainly slow down, sending various manufacturers scrambling for a larger piece of the smaller pie. However, even by heavily discounting forward operating performance, we believe that CDYT presents tremendous value. We are initiating coverage of CDYT with a 'Speculative Buy' rating and a 12-month price target of $3.85,'' Russell concluded.

To receive a complimentary copy of the RedChip Visibility Initial Research Report for CDYT, please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=150&from=11192008pr.

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DISCLOSURE:

None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. China Display Technologies, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $25,000 for RedChip Visibility Program services, which included the preparation of this equity research report. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. China Display Technologies, Inc. agreed to pay RedChip Companies, Inc., a fee of $8,500 in cash per month for twelve (12) months of these services. To the fullest extent permissible under applicable law, RedChip Companies, Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.