NEW YORK, May 15 /Xinhua-PRNewswire/ -- China Finance, Inc.
(OTC Bulletin Board: CHFI), a China-based provider of surety guarantees, loan
guarantees, and direct loans to China's large and rapidly expanding class of
small and medium enterprises (SMEs), today reported financial results for the
fiscal quarter ended March 31, 2007.
Net revenues for the first quarter of 2007 totaled $200,325, compared to
revenues of $28,292 for the first quarter of 2006, which is an increase of
600.8%. The increase was due to an increase in revenue from our loan
guarantee transactions during the quarter.
Net income for the quarter was $2,380,199, compared to the net income of
($172,226) for the same quarter last year, which is an increase of $2,552,425.
The increase in net income was due to selling some shares of China 3C Group
(OTC Bulletin Board: CHCG).
Zhi Yong Xu, Chairman and CEO of China Finance, Inc., stated, "We are very
pleased with our outstanding performance for the first quarter. We have
strong momentum heading into 2007 with the development of the management team
and analysts. Looking ahead, we expect further growth for our company for the
second quarter of 2007."
ABOUT CHINA FINANCE, INC.
China Finance, Inc. (CFI) provides financial support and services --
primarily in the form of surety guarantees, loan guarantees, or short-term
loans -- to privately owned SMEs when they seek access to capital or to be
acquired by a United States reporting company. CFI provides its services
through its wholly-owned subsidiary, Shenzhen Hua Yin Guaranty and Investment
Limited Liability Corporation, which is located in the financial district of
Shenzhen, China.
As part of CFI's financial support and services, CFI conducts research and
background investigations of its clients and requires that its clients agree
to satisfy certain financial benchmarks established by CFI. In addition, CFI
follows formal internal control procedures for reviewing a client's financial
statements and operations. CFI brings together a management team with broad
experience in loan guarantees, real estate development and investment banking.
For more information, please see www.chinafinanceinc.com.
For investor relations information regarding China Finance Inc, please
contact Roger Wei at (201)-216-9323 Ext 106. Email: Wei@chinafinanceinc.com
