DALIAN, China, Aug 12 /PRNewswire-Asia/ -- The subsidiary of China Mining Guarantee Fund, Qinghai ZhengDa Credit Guarantee Co., Ltd. (hereafter referred to as "Qinghai ZhengDa ") announced the signing of a Merger Agreement with the subsidiary of China Yibai United Guarantee International Holding Inc. (Pink Sheets: CBGH), Dalian Yibai SMEs Guarantee Ltd. (hereafter referred to as "Dalian Yibai"). According to the agreement, Dalian Yibai will hold 20 percent of authorized stock and is authorized to operate the whole actions of Qinghai ZhengDa.
In terms of this cooperation, "The agreement about merger is a case of consolidation merger in the capital market. Dalian YiBai reaches an alliance with Qinghai ZhengDa to commence equity mortgage guarantee and loan businesses about enterprises in West regions in China," said Mr. Li Li, CEO of China YiBai. "Additionally, this merger will lay the foundation for finance collectivization of China YiBai at the end of 2010."
About China YiBai United Guarantee International Holding Inc.
China YiBai United Guarantee International Holding Inc. (hereafter referred to as "China YiBai "), is a financial company specializing in providing financial services for domestic SMEs. IG Finance Inc., together with China Dragon International Investment (HK) Co., Ltd. are overseas subsidiary of China YiBai. Dalian YiBai Small & Medium Enterprises Guarantee Co., Ltd. (hereafter referred to as "Dalian YiBai "), is the Chinese subsidiary and main body of operation. Dalian Yibai is engaged in providing value added services for Chinese SMEs including equity mortgage guarantee and loan services, Finance Consultant, design of listing and merger plans as well as core competitiveness. Combing professional services of that of consultancy firms, accounting firms, law firms and securities traders, Dalian YiBai works with investment institutions in providing thoughtful and considerate services to enterprises to fulfil their share capital increasing and second financing needs. Recently, Dalian YiBai acquired the qualification as sponsor and market-maker from Tianjin Equity Exchange and is now specialized in financial services for non-listing enterprises. For additional information, please visit http://www.yibaichina.com .
About Qinghai ZhengDa Credit Guarantee Co., Ltd.
Qinghai ZhengDa Credit Guarantee Co., Ltd. (hereafter referred to as "Qinghai ZhengDa") was established in 2008 with registered capital of RMB 166 million. Qinghai ZhengDa specializes in loan and credit guarantee, capital management, entrust loan of small amount and national banks' entrust and investment. Additionally, Qinghai ZhengDa is engaged in project implementation guarantee and property preservation guarantee. Moreover, Qinghai ZhengDa also functions as a financial consultant.
China Mining United Fund, established by China Mining United Investment Group, the parent company of Qinghai ZhengDa, is among the first batch of mining investment funds approved by the Development and Reform Commission. China Mining United Fund runs and operates with domestic and foreign excellent mineral companies and financial capitals. For additional information, please visit http://www.cmufund.com/ .
