posted
They just made 32m in revs and are moving to the NASDAQ small cap. They predict revs of 1b by 2010. Comments??
China 3C Group to Apply For Listing on NASDAQ SmallCap Market Monday April 24, 4:10 pm ET
ZHEJIANG, China, April 24 /PRNewswire-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG - News), the parent company of two established electronic product distributors in Eastern China today announced that the Company intends to apply for a listing on the NASDAQ SmallCap Market. ADVERTISEMENT
Mr. Zhenggang Wang, Chief Executive Officer, said, "Our Board of Directors has decided that it is in the best interest of our shareholders for us to seek a listing on the NASDAQ Stock Market. We are benefiting from a rapid expansion in the Chinese marketplace and expect to continue to grow at a faster pace through the diversity of our products, the establishment of retail stores and the building of a more efficient logistics system. We believe a listing on NASDAQ, should it be approved, will provide our Company access to broader capital markets and extend an opportunity for investment to a wider investor audience."
Listing applications are subject to review by NASDAQ's Listing Qualifications Department for compliance with all NASDAQ National Market requirements. China 3C Group expects that process to take several weeks. While the Company believes it satisfies all listing requirements, China 3C has been given no assurance its listing application will be approved.
About China 3C Group
China 3C Group is a large-scale enterprise integrating the selling, circulation and modern logistics of 3C product (Communication Product, information technology products and digital products) in China through its two subsidiaries: Yiwu Yong Xin Telecommunication Company Limited, which is an authorized sales agent, focusing on the selling, circulation and modern logistics of fax machines and cord phone products in China, and Hangzhou Wang Da Electronics Company Limited, which is an authorized sales agent focusing on the selling, circulation and modern logistics of cell phones, cell phones products, IT products (including notebook or laptop computers), and digital products (including digital cameras, digital camcorders, MP3 players, PDA, flash disks, and removable hard disks) in China.
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