WUJIANG, China, Sept. 15, 2016 /PRNewswire/ -- China
Commercial Credit, Inc. (NasdaqCM: CCCR) (the "Company"), a
microfinance company providing financial services to
small-to-medium enterprises (SMEs), farmers and individuals in
Jiangsu Province, is pleased to
announce that it has regained compliance with Nasdaq's minimum bid
price requirement and market value of listed securities
requirement.
On July 6, 2016, China Commercial
Credit, Inc. (the "Company") received a written notification from
the NASDAQ Stock Market Listing Qualifications Staff indicating
that the Company has regained compliance with the $1.00 minimum closing bid price requirement for
continued listing on the NASDAQ Capital Market pursuant to NASDAQ
Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement")
as the closing bid price of the Company's common stock has been at
$1.00 per share or greater for at
least 10 consecutive business days.
On September 12, 2016, the Company
received another written notification from the NASDAQ Stock Market
Listing Qualifications Staff indicating that the Company has
regained compliance with the minimum market value of listed
securities requirements for The NASDAQ Capital Market pursuant to
Listing Rule 5550(b)(2) (the " Market Value of Listed
Securities Requirement") as the market value of Company's
listed securities has been $35,000,000 or greater for 10 consecutive
business days.
About China Commercial Credit
China Commercial Credit (http://www.chinacommercialcredit.com),
founded in 2008, provides business loans and loan guarantee
services to small-to-medium enterprises (SMEs), farmers and
individuals in China's
Jiangsu Province. Due to recent
legislation and banking reform in China, these SMEs, farmers and individuals --
which historically had been excluded from borrowing funds from
State-owned and commercial banks -- are now able to borrow money at
competitive rates from microfinance lenders.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of China Commercial Credit,
Inc. and its subsidiary companies. All statements, other than
statements of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website at http://www.sec.gov. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
For more information, please contact:
Mr. Long Yi, Chief Financial Officer
China Commercial Credit, Inc.
Tel: +86 13584802352
Email: 13584802352@139.com
Exhibit 99.1
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SOURCE China Commercial Credit Inc.