SYL

Symax Lift Holding Co., Ltd. ("Symax" or the "Company") (TSX VENTURE:SYL), a
China based developer and manufacturer of elevators and escalators, today
reported first quarter financial results for the period ended March 31, 2010.


For the three months ended March 31, 2010, revenues increased to $1.5 million
from $1.0 million recorded in the same period in 2009. The increase in 2010 was
driven primarily by new product sales continuing to illustrate the growth
opportunities in the Chinese elevator market.


For the three month period ended March 31, 2010, gross margin decreased to 31
percent of revenues from 35 percent in 2009. The decrease in gross margin was a
result of increased domestic sales as a proportion of total sales in the period
compared to the same period in 2009, which carry a lower gross margin due to the
targeted market, which were partially offset by the contribution of bringing the
assembly and manufacturing of certain components in-house versus third-party
purchasing.


Symax recorded a net loss for the three months ended March 31, 2010 of $325,000
or $0.01 per share, a slight increase over $188,000 or $0.01 per share in the
same period 2009.


Cashflow from operations required a use of funds of $1,060,000 in 2010 compared
to $695,000 in the same period in 2009. This was primarily as a result of
increases to inventories to service current sales commitments, for which the
benefit will be realized in future quarters.


"Given the historical low sales trend often realized by Chinese companies
surrounding the Chinese New Year and the additional costs of the Company
maintaining an office in Vancouver, we are very pleased with the trend of
increased sales and our net results for the period" noted Xiaoyan (Sabrina)
Zhang, Chief Executive Officer. "We look forward to continuing our revenue
growth period-over-period and executing upon our growth strategies as we move
through 2010 and beyond."


About Symax Lift (Holding) Co., Ltd.

Symax is in the business of the development, manufacturing, and sale of
elevators, as well as the provision of after-sales services in China and
worldwide. Symax's products and services are classified into two separate
offerings; a main line of standardized products which include passenger
elevators, goods/freight elevators, villa elevators, panorama elevators,
hospital elevators, residential and commercial escalators and moving walkways;
and customized elevator products.

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