SHANGHAI, China, Oct. 23, 2007 (PRIME NEWSWIRE) -- Dragon Capital Group Corporation (Pink Sheets:DRGV), a leading holding company of emerging high-tech companies in China, announced today that its subsidiary, Shanghai Zhaoli Technology Development Company, Ltd. ("Zhaoli"), has signed a yearlong contract valued at approximately US$725,994 with Meters Bonwe Group Shanghai Co., Ltd. to provide Epson brand printers for corporate use to one of China's leading clothing and accessory companies. The contract is renewable.
Founded in 1995, Meters Bonwe Group Shanghai Co., Ltd. engages in the manufacture and retail of casual wear and accessories, launching over 7,000 new styles yearly to its 1,800 franchise and specialty stores. The company employs more than 5,300 people and works with approximately 300 manufacturers. It also provides professional services, such as logistic distribution, information, consultation and personnel training to its franchisees.
Chief Executive Officer of Dragon Capital, Lawrence Wang, said, "We are excited to add Meters Bonwe to our growing list of China-based corporations seeking attractively priced, high quality electronics, delivered quickly. We expect to continue our relationship with Meters Bonwe while solidifying our reputation as a leading provider of wholesale electronic equipment for corporate use. We look forward to securing additional contracts in the retail sector for the benefit of our shareholders."
About Shanghai Zhaoli Technology Development Company, Ltd.
Shanghai Zhaoli Technology Development Company, Ltd., Dragon's largest subsidiary, is a provider of integrated enterprise information management systems and operates as an electronic hardware reseller of laser printers, copiers, scanners, facsimile machines and network products. Zhaoli had approximately $28 million in sales revenue in fiscal 2006. Since its inception in 1999, the company has derived approximately 80% of its revenue from wholesale transactions. The company's clients include government agencies, financial institutions, telecommunication companies, hospitals, supermarkets, airports and railway stations.
About Dragon Capital Group Corporation
Dragon Capital Group Corporation is a holding company serving as a business incubator for emerging Chinese businesses. Dragon currently controls seven subsidiaries operating in high-tech, IT products and services and management consulting. Three of the subsidiaries are growing strong recurring revenue streams from electronics hardware distribution and network integration. Dragon's wholly owned management firm, Shanghai Dragon, is expected to realize its initial revenue and profits in 2007. The company's other three subsidiaries, still in the emergent stage, are focused on wireless Internet applications, mobile business solutions, software development, enterprise management, computerized automations systems integration and network integration. For more information, visit, http://www.dragoncapital.us.
A profile for investors can be accessed at http://www.hawkassociates.com/drgvprofile.aspx. For investor relation information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To sign up for free e-mail notification of future releases for this company, sign up at http://www.hawkassociates.com/email.aspx.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the company's operations, financial performance and, condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive products, pricing and new technology; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, and other factors as those discussed in the company's reports filed with the Securities and Exchange Commission from time to time. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.