DALIAN, China, April 28 /PRNewswire-Asia-FirstCall/ -- China
YiBai United Guarantee International Holding Inc. (Pink Sheets:
CBGH), a company providing innovative financial services for small
and medium enterprises in China,
said today its business is growing rapidly through the
implementation of innovative financial services and a new focus on
businesses in low-carbon environmental sectors.
The company said that together with local government in
Dalian city, it is planning an
economic forum focused on encouraging the development of low carbon
enterprises, which China YiBai believes offers a promising new
market opportunity.
China YiBai CEO Alex Li said,
"Because the Spring Festival holidays occurred during our second
fiscal quarter of 2010 that ended March
31, we experienced predictable low seasonality as the
financial industry slowed for the holidays. During the quarter,
however, China YiBai established strategic partnerships with local
governments to expand our business lines. We entered into equity
pledge loans, listing assistance and financing agreements with over
ten enterprises. We also worked to strengthen our client
relationships through press conferences and media conferences.
"We are very pleased with our previously reported revenue of
$2.2 million and net income of
$1.5 million for our first fiscal
quarter, the three-month period ended December 31, 2009. China YiBai was founded only
in February 2009 and the solid
quarterly financial results highlighted the strength of our
business model."
"Low-carbon environmental protection is a hot topic
internationally and we believe it will play a significant role in
the world's and in China's future
economic development. Together with the local Dalian government, we are planning an economic
forum focused on low carbon business activities with the goal of
expanding our financial services activity in this area as we work
to improve our core competitiveness through the ongoing development
of innovative operating strategies," Li concluded.
About China YiBai United Guarantee International Holding
Inc.
China YiBai United Guarantee International Holding Inc. and its
wholly owned subsidiaries provide innovative financial services for
small and medium enterprises (SMEs) including equity financing,
asset management and multi-level domestic and overseas capital
market listings. China YiBai is a sponsor and market maker on
China's over-the-counter market,
the Tianjin Equity Exchange, which specializes in financing and
investment services for high-tech enterprises. More information may
be found at http://www.yibaichina.com .
An online investor kit including a company profile, press
releases, current price quotes, stock charts and other valuable
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http://www.hawkassociates.com/profile/cbgh.cfm . To subscribe to
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Forward-Looking Statements
This press release contains certain statements that may include
"forward-looking statements." 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. You 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 Pink Sheets. 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.
SOURCE China YiBai United Guarantee International Holding
Inc.