Message #7 From:
NewsBot Date: February 19, 2008 02:32:13 PM
China 3C Group Reaffirms Fiscal 2007 Financial Estimates
- Retains ICR to Provide Investor Relations Strategy
ZHEJIANG PROVINCE, China, Feb. 19 /Xinhua-PRNewswire/ -- China 3C Group
(OTC Bulletin Board: CHCG), a retailer and wholesale distributor of consumer
and business products in China, today reaffirmed comfort with the Company's
fiscal 2007 diluted earnings per share forecast of US$0.43 to $0.47.
Chairman and CEO Zhenggang Wang commented, 'We are pleased to reiterate
comfort with our diluted earnings per share guidance, which is a result of
continued strength in both our retail and wholesale distribution businesses.
We were also very satisfied with our operational execution and look forward to
continued momentum in our business ahead.'
Additional information will be available when the Company announces formal
2007 financial results in March 2008.
In addition, the Company announced that it has retained ICR to design and
execute its investor relations strategy while assisting management with
shareholder communications.
Mr. Wang commented, 'ICR has a strong history working with public
companies, both in China and in the U.S., to improve overall communication
with the U.S. investment community. We look forward to working with ICR and
are confident that our relationship will be long-standing and highly
successful.'
ICR, with offices in Shanghai, China, Beijing, China, New York, NY,
Westport, CT, Boston, MA and Los Angeles, CA, and will serve as China 3C's
investor relations advisory firm. Composed exclusively of seasoned Wall
Street professionals -- former senior sell-side analysts, portfolio managers,
investment bankers and capital markets professionals who possess invaluable
experience dealing with publicly traded equities in the capital markets -- ICR
has strong expertise working with U.S. listed companies from China.
About China 3C
China 3C is a leading wholesale distributor and retailer of 3C merchandise:
computers, communication products and consumer electronics. The company
specializes in wholesale distribution and retail sales of 3C products in
Eastern China, focusing on products that make life more comfortable,
convenient and connected. The company's goal is to become the number one
retailer of 3C products in China. For more information, visit
http://www.china3cgroup.com .
Forward-looking Statements:
Certain of the statements set forth in this press release constitute
'Forward-looking statements' within the meaning of the Private Securities
Litigation Reform Act of 1995. We have included and from time to time may
make in our public filings, press releases or other public statements, certain
forward-looking statements, including, without limitation, those under
'Management's Discussion and Analysis of Financial Condition and Results of
Operations' in Part II, Item 7 of our Annual Report on Form 10-K. In some
cases these statements are identifiable through the use of words such as
'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend,' 'plan,' 'project,'
'target,' 'can,' 'could,' 'may,' 'should,' 'will,' 'would' or words or
expressions of similar meaning. You are cautioned not to place undue reliance
on these forward-looking statements. In addition, our management may make
forward-looking statements to analysts, investors, representatives of the
media and others. These forward-looking statements are not historical facts
and represent only our beliefs regarding future events, many of which, by
their nature, are inherently uncertain and beyond our control. There can be
no assurance that such forward-looking statements will prove to be accurate
and China 3C Group undertakes no obligation to update any forward-looking
statements or to announce revisions to any of the forward-looking statements.
