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15 years ago
CTDC Enters into Strategic Cooperation Agreement with Russian Energy Group
HONG KONG – December 1, 2009 — China Technology Development Group Corporation (Nasdaq: CTDC; “CTDC” or “the Company”), a growing integrated clean energy group based in China to provide solar energy products and solutions, today announced the Company has agreed to enter into strategic cooperation agreement (the “SCA”) with Rus Energy Investment Group (“Rus Energy”) to leverage mutual strengths to jointly develop the clean energy business in both China and Russia.
Pursuant to the SCA, both parties will establish in-depth cooperative arrangements in the following three major areas:
(1) development of the Russian solar power station and other solar related business in Russia to provide environmental friendly and clean solar power;
(2) jointly develop Russia’s natural gas resources and supply to mainland China, Hong Kong and Taiwan regions; and
(3) jointly set up the Sino-Russian clean energy assessment team to conduct substantive investigation in terms of the potential cooperation on clean energy projects and carry out feasibility studies for the reference to the board of directors of both companies.
On October 12, Sino-Russian Energy Investment Co., Ltd (“SREI”), a subsidiary of Rus Energy announced the acquisition of 51% equity interests in Russian Suntar Natural Gas Company. As a result, SREI has obtained exploration and production rights of 2 natural gas fields in Eastern Siberia with up to 60 billion cubic meters of reserved natural gas. Rus Energy will become the first Sino-Russian joint venture in natural gas and has obtained the controlling interests in these Russian natural gas fields. Rus Energy is planning to invest over USD300 million to develop these 2 natural gas fields.
“We are really pleased to be a strategy partner of Rus Energy”, stated Mr. Alan Li, Chairman and CEO of the Company, “It’s another significant momentum in our clean energy business development following our investment in the large-scale grid-connected solar power station in Qinghai province in China. China is making every effort to develop clean energy. It’s expected that by 2020, China’s carbon dioxide emissions per unit of GDP will decline by 40%-50%, compared with 2005. It is clearly stated in Russian New Energy Strategy that the Russian natural gas and other conventional energy reserves, production and export volume will be increased. Meanwhile, the renewable energy as a percentage of the total energy consumption will also increase. We could prospect a greater development in the clean energy between China and Russia, which presents a rare opportunity for mutual development. We do hope to work closely with the Rus Energy to achieve the substantial growth. “
1
About CTDC:
CTDC is a growing integrated clean energy group based in China to provide solar energy products and solutions. CTDC’s major shareholders include China Merchants Group http://www.cmhk.com/en/ a state-owned conglomerate in China, and Beijing Holdings Limited, the largest offshore subsidiary established by Beijing Municipal Government. For more information, please visit our website at http://www.chinactdc.com
About Rus Energy£º
Rus Energy is a Hong Kong registered company and mainly engaged in the development, exploration and production of clean energy in Russia.
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15 years ago
The Reporting Person is the beneficial owner of 3,322,260 shares of Common Stock, representing 17.2% of the Issuer’s outstanding Common Stock based on 19,280,057 shares of the Common Stock outstanding as of December 3, 2009, as reported on the Issuer’s Form 6-K filed on December 3, 2009.
On May 12, 2009, China Green Holdings Ltd. (“CGHL”), a wholly-owned subsidiary of the Issuer, issued a convertible note in the principal amount of $10,000,000 (the “Convertible Note”) to the Reporting Person. The Convertible Note was, at the Reporting Person’s option, either (a) convertible into outstanding ordinary shares of CGHL or (b) exchangeable for shares of the Issuer’s Common Stock.
In accordance with the terms of the Convertible Note, as amended, the Reporting Person exchanged the entire principal amount of the Convertible Note for 3,322,260 shares of Common Stock, which were issued to the Reporting Person on November 30, 2009 (the “Shares”). As of December 3, 2009, the Issuer had 19,280,057 shares of Common Stock issued and outstanding.
The Reporting Person holds the Shares for investment purposes. The Reporting Person may, from time to time, acquire additional shares of Common Stock in open market transactions. Additionally, the Reporting Person may, from time to time, sell the Shares in open market transactions or in negotiated block sales to one or more purchasers, consistent with its investment purpose. Subject to the foregoing, the Reporting Person has no current plans or proposals which relate to or would result in any of the events specified in Item 4 of Schedule 13D.
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16 years ago
Financial Results For the six months ended June 30, 2008 (unaudited)
HONG KONG, September 29, 2008, China Technology Development Group Corporation (NASDAQ: CTDC) (collectively, the “Company”, “We”, “us”, or “our”) announced today its unaudited consolidated financial results for the six month period ended June 30, 2008 (without any footnotes disclosure).
The Group decided to focus on the strategic expansion in the solar business and proposed to dispose of its equity interest of Jingle Technology Co Ltd. (”Jingle”) and its subsidiaries, BHLNet and BBHL (collectively, the “IT operations”). The disposal of Jingle was approved by the written resolution of the Board passed on May 9, 2008.
As at June 30, 2008, our first SnO2 solar base plate production line in the factory which located at China Merchants Zhangzhou Development Zone in Fujian Province of PRC concluded its installation and testing and hence, no revenue has been generated and our revenues were contributed solely from IT operations in 2008 Period.
The Company’s IT operations were classified as held for sale in the six months ended June 30, 2008(the “2008 Period”). The gain from this discontinued operation represented as the below:
a) Revenues. Revenues decreased by US$87,000, or 25.89%, from US$336,000 in the six months ended June 30, 2007 (the “2007 Period”) to US$249,000 in 2008 Period.
b) Cost of sales. Cost of sales decreased by US$97,000, or 61.78%, from US$157,000 in 2007 Period to US$60,000 in 2008 Period. The decrease in cost of sales of our IT operations was in line with the decrease in our revenues.
c) Gross profit. Gross profit increased by US$10,000, or 5.59%, from US$179,000 in 2007 Period to US$189,000 in 2008 Period. As a percentage of sales, the gross profit margin of our IT operations increased by 22.63bps, from 53.27% in the 2007 Period to 75.90% in the 2008 Period. The increase was due primarily to no revenue from CA which was offered previously lower prices.
d) Selling expenses. Selling expenses decreased by US$25,000, or 43.10%, from US$58,000 in 2007 Period to US$33,000 in 2008 Period due to downsize of certain technical support staffs.
e) General and administrative expenses. General and administrative expenses decreased by US$39,000, or 15.48%, from US$252,000 in 2007 Period to US$213,000 in 2008 Period.
General and administrative expenses (“G&A expenses”) increased by US$700,000, or 102.94%, from US$680,000 in 2007 Period to US$1,380,000 in 2008 Period. The increase in G&A expenses was due primarily to the combined effects of the following:
a) G&A expenses of our corporate office increased by US$507,000, or 81.77%, from US$620,000 in 2007 Period to US$1,127,000 in 2008 Period. The significant increase was due primarily to a stock-based compensation of US$340,000 was recognized in 2008 Period, compared to nil stock-based compensation was recognized in 2007 Period. In addition, there was an increase in staff costs and professional fee in relation to corporate and securities matters.
b) G&A expenses of our Solar Operations increased by US$97,000, or 161.67%, from US$60,000 in 2007 Period to US$157,000 in 2008 Period as a result of the expansion of production line at China Merchants Zhangzhou Development Zone in Fujian Province of PRC.
Non-operating expenses. Non-operating expenses mainly represented US$99,000 of loss on disposal of available-for-sale securities and US$13,000 of exchange loss on bank account denominated in Hong Kong dollars in 2008 Period.
The Company also maintained a deposit of US$770,000 with China Biotech Holdings Limited, the major shareholder of the Company, for the purpose of financing potential investments.
In addition, we had received US$1,154,000 from China Biotech Holdings Limited for assignment agreement relating to disposal of its entire interests in China Natures Technology Inc(“CNT”) between Total Trump and China Biotech Holdings Limited in 2008 Period.
The Company recorded it as sharehoelders’ contribution in the additional paid-in capital in shareholders equity in 2008 Period. The additional paid-in capital did not have any dilution to shareholders.
As a result, the Company reported a net loss of US$1,418,000 in 2008 Period as compared to a net income of US$796,000 in 2007 Period.
http://sec.gov/cgi-bin/browse-edgar?company=China+Technology+Development+Group&action=getcompany
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16 years ago
CDTC up 17% on no news
maybe this private placement (PIPE) has something to do with it (ie the PIPEsters are pumping it)
CTDC Announces Agreement to Raise $1,500,000 Through Private Placement of Common Equity
Wednesday September 24, 8:45 am ET
HONG KONG, Sept. 24, 2008 (GLOBE NEWSWIRE) -- China Technology Development Group Corporation (NasdaqCM:CTDC - News) (``CTDC' or ``the Company'), a provider of solar energy products and solutions in China focusing on a-Si thin-film technology, today announced that it has executed a Securities Purchase Agreement (``the agreement') to raise $1,500,000 in a private placement of common stock and warrants with several U.S. institutional accredited investors.
Under the agreement, CTDC will issue 498,338 shares of its common stock at the price of $3.01 per share with 50% warrant coverage at exercise price of $6.00 per share through a private placement. The warrants will have a five-year term following the closing of this transaction. The Company intends to use the proceeds from the financing to prepare for the manufacturing band expansion of the SnO2 solar base plates as well as for working capital and general corporate purposes. (ie salaries, lol) For all details of the offering, please visit Company's SEC Filings of the 6K, http://www.nasdaq.com/asp/quotes_sec.asp?selected=CTDC&symbol=CTDC, filed by 9:00 a.m. EDT on Wednesday, September 24, 2008.
Press Release Source: China Technology Development Group Corporation
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16 years ago
Message Results search on: "ctdc"
Board Subject Author Date/Time
20% SHARP SHOOTERS - CHART TIMING performers from that scan today: TDarts 5/6/2008 10:31:40 PM
20% SHARP SHOOTERS - CHART TIMING CSIQ +18% 31.40 nice day here CRK +16% max2205 5/6/2008 4:05:10 PM
BB's Stock Haven watch for a CPSL explosion coming tomorrow, follows CHNR,CTDC wickerman 5/6/2008 3:19:58 PM
Zeev's Turnips Patch-No Politics CTDC nice veej! Got ERS HTE GTE hotlinktuna 5/6/2008 2:57:22 PM
20% SHARP SHOOTERS - CHART TIMING Performace off of cross scan last night only max2205 5/6/2008 1:37:31 PM
The Lotto Pick Project (LOTTO) CTDC China Technology $5.34 UP 14.84% zee1 5/6/2008 1:29:38 PM
Zeev's Turnips Patch-No Politics *JADE*...*CTDC*...*CPSL*...*GSI*...holding these oriental gems EYE_ON_WALLST 5/6/2008 1:02:03 PM
Momentum Players thx, CTDC blew up today watch CPSL next wickerman 5/6/2008 12:01:52 PM
CASH COW CTDC up big today kumqwatt 5/6/2008 11:07:54 AM
Extreme Stock Charts CTDC up big today kumqwatt 5/6/2008 10:50:46 AM
20% SHARP SHOOTERS - CHART TIMING CTDC +18% 5.49 HOD max2205 5/6/2008 10:47:02 AM
BB's Stock Haven hey bb watch CTDC busting loose wickerman 5/6/2008 10:12:00 AM
Momentum Players thanks, watch CTDC today could go big wickerman 5/6/2008 10:10:55 AM
20% SHARP SHOOTERS - CHART TIMING PWAV +12% 3.25 CTDC +12% 5.19 SCU +10% 1.57 max2205 5/6/2008 10:09:54 AM
Zeev's Turnips Patch-No Politics CTDC looking big today hotlinktuna, tightest bollies in veejer999 5/6/2008 10:04:29 AM
BB's Stock Haven CTDC spiking! veejer999 5/6/2008 9:58:16 AM
20% SHARP SHOOTERS - CHART TIMING Year-To-Day Chinese Stock Performances max2205 5/6/2008 8:47:59 AM
20% SHARP SHOOTERS - CHART TIMING Five-Day Chinese Stock Performances max2205 5/6/2008 8:47:23 AM
20% SHARP SHOOTERS - CHART TIMING 8 21 crosses Monday close max2205 5/5/2008 4:46:22 PM
BB's Stock Haven CPSL CTDC follow CHNR, explosion alerts wickerman 5/5/2008 11:39:43 AM
China Companies US Stocks CHINA INDEXES: Week 18: lentinman 5/4/2008 3:31:10 AM
VMC Motherboard CHINA INDEXES: Week 18: lentinman 5/4/2008 3:28:53 AM
BB's Stock Haven Some SOLAR stocks to watch CTDC DSTI LDK WANG 4/30/2008 9:25:58 AM
VMC Motherboard CHINA INDEXES: Week 17: lentinman 4/27/2008 2:48:57 PM
20% SHARP SHOOTERS - CHART TIMING One-Year Chinese Stock Performances max2205 4/24/2008 8:31:54 AM
20% SHARP SHOOTERS - CHART TIMING Year-To-Day Chinese Stock Performances max2205 4/24/2008 8:30:46 AM
20% SHARP SHOOTERS - CHART TIMING Five-Day Chinese Stock Performances max2205 4/24/2008 8:29:59 AM
20% SHARP SHOOTERS - CHART TIMING FRPT +6% 2.91 CADX +9% 7.17 CTDC max2205 4/23/2008 11:05:19 AM
Langlui's $2,000 to $10,000 by June 30, 2008 challenge There i go again, 3rd place finish. langlui 4/19/2008 2:34:29 PM
China Companies US Stocks CHINA INDEXES: Week 16: lentinman 4/19/2008 3:33:20 AM
VMC Motherboard CHINA INDEXES: Week 16: lentinman 4/19/2008 3:32:49 AM
Extreme Stock Charts *CHINA* Even on the weekly on that chart price mikeanthony 4/17/2008 12:35:34 PM
The Lotto Pick Project (LOTTO) .SOLARS Active PM: SPWR, JASO, FSLR, CSIQ, Stock Lobster 4/17/2008 8:30:15 AM
Trader's Cove Solar Sector: jimmenknee 4/17/2008 3:09:31 AM
Trader's Cove jimmenknee, i am not sure if you want langlui 4/17/2008 1:31:46 AM
TECHNICAL ANALYSIS CTDC.....chart......annotated watch Accum/Dist lines cha-ching 4/16/2008 5:12:07 PM
TECHNICAL ANALYSIS Hi Cha, eztrade 4/16/2008 4:49:30 PM
Simple's Green Room GM cha..,IMO CTDC has been manipulated and jerked simplegreen 4/12/2008 8:42:11 AM
Simple's Green Room simple.....Elliot Wave on CTDC cha-ching 4/12/2008 5:36:56 AM
TECHNICAL ANALYSIS eztrade......ur answer on CTDC cha-ching 4/12/2008 5:32:35 AM
China Companies US Stocks CHINA INDEXES: Week 15: lentinman 4/11/2008 6:50:49 PM
VMC Motherboard CHINA INDEXES: Week 15: lentinman 4/11/2008 6:49:45 PM
TECHNICAL ANALYSIS CTDC....chart...annotations cha-ching 4/10/2008 11:19:36 PM
20% SHARP SHOOTERS - CHART TIMING Up 20% in last 20 Days any vol max2205 4/9/2008 6:31:54 PM
BB's Stock Haven SOLAR WANG 4/9/2008 9:21:36 AM
The Lotto Pick Project (LOTTO) CTDC 5.32 the only solar RED in a ballyhooo 4/7/2008 11:43:54 AM
20% SHARP SHOOTERS - CHART TIMING Five-Day Chinese Stock Performances max2205 4/7/2008 8:30:09 AM
The Lotto Pick Project (LOTTO) China watchilist, a few looked like they wanted morcash 4/7/2008 8:07:11 AM
Trader's Cove lol! That is a long list. TikiGal 4/6/2008 9:18:47 PM
Trader's Cove Here are the important ones where Blasted and jimmenknee 4/6/2008 8:28:57 PM
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17 years ago
13D filed 3/11/08
China Biotech Holdings Limited (“China Biotech”) and WT (JAPAN) Co.,Ltd., Kenneth Kin Hing Lam, Right Mind Finance Limited and Modern Precise Limited (collectively, the “Purchasers”) entered into Sale and Purchase Agreement (“SPA”) on January 18, 2008 and January 24, 2008 respectively, pursuant to which China Biotech sold and the Purchasers acquired a total of 445,000 shares of common stock of CTDC (“SPA shares”). On the completion Date February 15, 2008, China Biotech received a total of US$2,670,000 as cash consideration for the sale of SPA shares. The SPAs are substantially similar in the form and substance to the SPA attached hereto as Exhibit 1.
In addition, China Biotech and Beijing Holdings Limited (“Beijing Holdings”) entered into a Share Sale and Purchase Agreement (“SPA BHL”) on April 12, 2007 and an Amendment to Sale and Purchase Agreement (“Amendment”) on September 5, 2007. Pursuant to the SPA BHL and its Amendment, China Biotech acquired and Beijing Holdings sold for cash a total of 1,000,000 shares of common stock of CTDC. Beijing Holdings received a total of US$4,000,000 as cash consideration upon the completion date on March 10, 2008. The SPA BHL and its Amendment are attached hereto as Exhibit 2 and Exhibit 3 respectively.
As a result, China Biotech increased its shareholding of CTDC’s common stock to 4,837,168 shares.
Item 4 Purpose of Transaction:
CTDC is strategically positioned to be a leading player in the Chinese solar energy industry in the near future. By changing shareholding in CTDC, China Biotech intended to enable CTDC to bring in new shareholders to accelerate its expansion in China.
Except as may be provided herein or disclosed in the Sale and Purchase Agreements to be filed as exhibit herewith, the Reporting Person does not have any other plans or proposals which would result in: (i) the acquisition by any person of additional securities in CTDC; (ii) an extraordinary corporate transaction, such as a merger, reorganization or liquidation of CTDC or any of its subsidiaries; (iii) a sale or transfer of a material amount of assets of CTDC or any of its subsidiaries; (iv) any change in the present board of directors or management of CTDC, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (v) any material change in the present capitalization or divided policy of CTDC; (vi) any other material change in CTDC’s corporate structure, (vii) any changes in CTDC’s charter, by-laws or instruments corresponding thereto or other actions which may impede the acquisition of control of CTDC by any person; (viii) causing a class of securities of CTDC to be delisted from a national securities exchange or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (ix) causing a class of equity securities of CTDC to become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or (x) any action similar to any of those enumerated above.
Item 5 Interest in Securities of the Issuer:
(a) China Biotech, as of March 10, 2008, is the beneficial owner of 4,837,168 shares of Common Stock and 1,000,000 shares of Preferred Stock. The 4,837,168 shares represent approximately 32.19% of the Common Stock based on 15,028,665 shares of Common Stock outstanding as of March 10, 2008. The 1,000,000 shares represent 100% of the Series A Preferred Stock based on 1,000,000 shares of Series A Preferred Stock outstanding as of March 10, 2008.
(b) China Biotech, as of March 10, 2008, has sole investment and holding power of 4,837,168 shares of Common Stock and 1,000,000 shares of Series A Preferred Stock which have 25% of voting power.
(c) To the knowledge of China Biotech on the date hereof, except to the extent set forth herein or in the Exhibits herewith, China Biotech did not have any transaction in the class of securities reported during the past sixty days.
(d) To the knowledge of the Reporting Person, no other person is known to have the right to direct the receipt of dividends from, or the proceeds from the sale of the shares owned by the Reporting Person.
(e) Not applicable.
http://sec.gov/cgi-bin/browse-edgar?company=China+Technology+Development+Group&action=getcompany
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