DALIAN, China, July 2 /PRNewswire-Asia/ -- China YiBai United Guarantee International Holding Inc. (Pink Sheets: CBGH; hereafter referred to as "China YiBai") signed a Listing Financing Agreement with Jingniu Group about Tianjin Equity Exchange listing.
China YiBai has acquired market-maker and sponsor qualification from the Tianjin Equity Exchange. The Agreement made between China YiBai, functioning as sponsor, and Jingniu Group, marks the beginning of business in the Tianjin Equity Exchange. At present, we are executing the process of listing, which is following the conditions of the Tianjin Equity Exchange.
"Market-maker and sponsor qualification from the Tianjin Equity Exchange will promote the business field of our company to a new level. Furthermore, we will do utmost to recommend more SMEs to be public in the Tianjin Equity Exchange in 2009," said Mr. Alex Li, president of China YiBai.
About China YiBai United Guarantee International Holding Inc.
Dalian YiBai Small & Medium Enterprises Guarantee Co., Ltd., as the operational subsidiary of China YiBai United, is the first financial company focusing on equity mortgage loan, an innovative kind of credit guarantee in northeastern China (including Liaoning province, Jilin province and Heilongjiang province) for Chinese SMEs. Meanwhile, China YiBai is also engaged in personal property management and merger and acquisition. Additionally, China YiBai also functions as financial consultant about overseas listing (including German, U.S.A., Britain and Canada). At the same time, Dalian YiBai has acquired the qualification as sponsor and market-maker from Tianjin Equity Exchange and is specializing in financing and investment services for "two-high" and "two-non" enterprises. For additional information, please visit http://www.yibaichina.com .
About Jingniu Group
Jingniu Group is a high-tech enterprise approved by the State Department in China. It holds the State Torch Plan executive unit through the ISO 9001 quality management certification and ISO14000 environmental management certification. It is a nationally acclaimed enterprise. The company produces and sells for a large-scale market its high-tech products such as Float Glass, Rolling Glass-Ceramic Plate, Coated Glass, and Jade Green Glass etc.
The enterprise was built in 1956 with more than 3,500 employees and fixed assets equivalent to 16 billion Chinese Yuan. By 1999 the profits and taxes showed that the company had reached to the top level among all state-owned industries. By 2001 Jingniu Group was the first company selected from China as one of the 500 world top enterprises in glass industry. Currently there are eight production lines including Float Glass, Rolling Crystallite and Jade Glass in Hebei and Shanxi.
About Tianjin Equity Exchange
In March 2008, "Reply to General Plan of Comprehensive Reform in Tianjin Binhai New Area from Chinese State Council" specifically required Tianjin to emphasize financial system reform and establish a new base for national financial reform and speed up and enhance its capital market system and financial services in order to create an unlisted public equity exchange market in Tianjin Binhai New Area. Thus the Tianjin Equity Exchange was established.
On May 4, 2008, the Tianjin government officially permitted that the Tianjin Equity Exchange should function as the enforcement body for "two-high" and "two-non" enterprises (new high-tech enterprises in Hi-Tech Development Zones and unlisted nonpublic joint-stock companies) equity and PE investment funds. The Tianjin Equity Exchange should be integrated into 20 innovative programs of financial reform of the Tianjin government. In October 2008, the Tianjin government further clarified its Three-year Implementation Plan (2008-2010) of the General Plan of Comprehensive Reform in Tianjin Binhai New Area (No(2008)82) that is necessary to establish the financial transaction platform and develop a PE and bond-trading pilot project. National market network characterized with sound management and high-efficiency should gradually come into being through a perfect structure system and a functional development system.
