Great China Mania Sells Unprofitable Business Unit and Cancels 3,000,000 Shares

HONG KONG, April 23, 2013 (GLOBE NEWSWIRE) -- Great China Mania Holdings, Inc., (OTCBB:GMEC) (the "Company" or "GMEC") announces it has entered into an agreement with an individual non-affiliate third party to sell its retail business segment, Great China Games Limited ("GCG"), in exchange for consideration of 3,000,000 shares of GMEC. GMEC will cancel the 3,000,000 shares it receives from the non-affiliate third party upon completion of transaction and therefore reduces the number of shares outstanding of the Company. More details can be found on the current report on Form 8-K filed with the SEC (

GCG reported a net segment loss of $51,860 from continuing operations for the year ended December 31, 2012.

"One of our major objectives in 2013 is to restructure our business portfolio and discontinue unprofitable business segments," said Roy, CEO of GMEC. "Looking forward we plan to complete more restructuring to better improve our profitability."

About Great China Mania Holdings Inc.:

Safe Harbor Statement

Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission as may be required by law.

CONTACT: Great China Mania Holdings, Inc. Tel: +852 2882 7026 Fax: +852 2882 7020 General Enquires: Email Contact: Sales & Marketing: Email Contact: Investor Relationship: Email Contact: ir@greatchinamania.comSource:Great China Mania Holding Inc