ChinaNet Online Holdings Passes Audit for High Tech Enterprises
March 14 2013 - 7:30AM
ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company" or
"ChinaNet"), a leading B2B (business to business) Internet
technology company focusing on providing online-to-offline ("O2O")
sales channel expansion services for small businesses (so-called
small and medium-sized enterprises ("SMEs") in China) and
entrepreneurial management and LINK services for entrepreneurs in
the People's Republic of China, today announced that the Beijing
Zhongguancun Enterprises Credit Promotion Association (ECPA)
completed a credit audit for the company. ChinaNet was awarded a
high grade, which makes the Company eligible to receive future
subsidies and funding from the State Development Bank, local
governments and related entities.
Beijing Zhongguancun Enterprises Credit Promotion Association is
an independent entity established by various high-tech enterprises
in 2003 to promote members complying with the laws and regulations
and national policies and to strengthen cooperation between
members. The credit audit is conducted by Beijing Credit Ratings
Co., Ltd, which is certified by the Beijing Zhongguancun government
and covers the areas of internal controls, financial statements and
credit and working capital management. Various local financial
institutions, insurance and intermediary service agencies and
regulators use this audit as a part of their analysis of individual
company's financial strength.
"Our favorable audit results from ECPA are a testament to our
financial stability and business potential. Lenovo also received
the same grade as we did," said Mr. George Chu, COO of ChinaNet.
"We have diversified our revenues and strengthened our brands while
maintaining a strong balance sheet. As we add new customers and
services, we expect to generate growth in our top and bottom
line."
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group
Ltd., incorporated in the BVI ("ChinaNet"), is a leading B2B
(business to business) Internet technology company focusing on
providing O2O (online to offline) sales channel expansion service
for small businesses (or so-called small and medium-sized
enterprises (SMEs) in China) and entrepreneurial management and
LINK service for entrepreneurs in China. The Company, through
certain contractual arrangements with operating companies in the
PRC, provides Internet advertising and other services for Chinese
small businesses via its portal websites, 28.com, Liansuo.com and
Chuangye.com (for entrepreneurs' Linking services), TV commercials
and program production via China-Net TV, and in-house LCD
advertising on banking kiosks targeting Chinese banking patrons.
Website: http://www.chinanet-online.com.
Safe Harbor
This release contains certain "forward-looking statements"
relating to the business of ChinaNet Online Holdings, Inc., which
can be identified by the use of forward-looking terminology such as
"believes," "expects," "anticipates," "estimates" or similar
expressions. Such forward-looking statements involve known and
unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand,
reliance on key personnel, future capital requirements, competition
in general and other factors that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and
uncertainties are or will be described in greater detail in our
filings with the Securities and Exchange Commission. These
forward-looking statements are based on ChinaNet's current
expectations and beliefs concerning future developments and their
potential effects on the company. There can be no assurance that
future developments affecting ChinaNet will be those anticipated by
ChinaNet. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the
Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. ChinaNet undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
CONTACT: MZ North America
Ted Haberfield, President
Tel: +1-760-755-2716
Email: thaberfield@mzgroup.us
Web: www.mzgroup.us
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