Dragon Capital Group Provides Business Update for 2013
March 12 2013 - 4:30PM
Marketwired
Dragon Capital Group Corp. (OTC Pink: DRGV), a leading holding
company of emerging high-tech companies in China, announced today
its business update for the fiscal year of 2013 ending December 31,
2013.
Management sees full year 2013 revenue reaching $24 to $25
million with net income ranging between $0.6 million to $0.8
million. For the first nine months of 2012 ended September 30, 2012
the Company reported revenues of $15.1 with net income of $0.1
million. The company sees 2013 revenue improving in hardware sales
from its Shanghai Zhaoli Technology Development Company ("Zhaoli")
subsidiary. Zhaoli is an information technology enterprise
providing innovative technology solutions to enhance its customers'
businesses. Zhaoli is an authorized general agent and distributor
for a wide array of manufacturers, including Epson, Cannon, Hewlett
Packard, Ricoh, Brother, Star and Samsung. Zhaoli has a wide-spread
sales channel, with headquarters in Shanghai and nine additional
branch locations. At each of the locations, Zhaoli sells laser
printers, copiers, scanners, facsimile machines, multi-functional
office equipment, module routers, switches, video telephones,
computer supplies, and network products and network integration.
Zhaoli obtains these products directly from the manufacturers.
Zhaoli is also qualified as a technical service center for Epson,
Canon, Hewlett-Packard and OKI products and provides equipment
repair services for its customers. Zhaoli has also developed an ERS
software system for enterprises to manage accounting, distribution,
inventory and sales.
Management sees a significant contribution to bottom line
performance in 2013 coming from its Shanghai Zhiye Software
Development Company ("Zhiye") subsidiary which the Company acquired
in December of 2012. Zhiye offers mobile solutions for Android,
Windows Mobile and Apple's iOS. Zhiye has been working to develop a
mobile programming solutions platform to enable application
developers in China to easily and efficiently develop and modify
applications to work across the most popular mobile operating
systems in China.
The 2013 year will also mark the full marketing launch of the
Gas GIS system from its Shanghai Yazheng Information Technology
Company ("Yazheng") subsidiary. The software team at Yazheng has
been developing this unique monitoring software over the past two
years. The main task of Gas GIS system is to monitor gas lines,
analyze results of emergency repairs, to formulate proper system
calculations, and to form maintenance and automatic repair response
plans. Through this Gas GIS system, companies can collect the most
up to date information to enable location and targeted inspection
of potential problems in the system to better support emergency
repairs and ongoing maintenance efforts.
Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group,
stated, "Throughout 2012, we have been actively positioning the
company to diversify our technology businesses to enable our
company to achieve sustainable top and bottom line growth. We
believe our decision to expand our efforts into mobile and
specialty software will begin to surface through improvements in
our net income and gross margins in 2013. We are optimistic that
2013 could be a turning point for our company to usher in a period
of sustained growth in our financial performance for years to
come."
About Dragon Capital Group Corporation
Dragon Capital Group Corp. (OTC Pink: DRGV) is doing business in
China through its subsidiaries. Dragon was established to serve as
a conduit between Chinese high-growth companies and Western
investors. DRGV functions as an incubator of high-tech companies in
China, offering support in the critical functions of general
business consulting, formation of joint ventures, access to
capital, merger & acquisition, business valuation, and revenue
growth strategies. DRGV has developed a portfolio of high-tech
companies operating in China. For more information about DRGV,
please visit http://www.dragoncapital.us
Safe Harbor Statement
Certain statements set forth in this press release constitute
"forward-looking statements." Forward-looking statements include,
without limitation, any statement that may predict, forecast,
indicate, or imply future results, performance or achievements, and
may contain the word expressions of similar meaning. Such
statements are not guarantees of future performance and are subject
to risks and uncertainties that could cause the company's actual
results and financial position to differ materially from those
included within the forward-looking statements. Forward-looking
statements involve risks and uncertainties, including those
relating to the Company's ability to grow its business. Actual
results may differ materially from the results predicted and
reported results should not be considered as an indication of
future performance.
Contact: Dore Perler U.S. Representative Telephone: (954)
232-5363 Facsimile: (954) 726-2022 Email:
Dore@PearlGroupAdvisors.com
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