SHANGHAI, CHINA -- (Marketwire) -- 03/12/13 -- 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.
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