DALIAN, China, April 28 /PRNewswire-Asia/ -- 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 .
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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.
