CCGN recently announced that Guidance Finance, one of its subsidiaries obtained the Value-added Telecommunication Business License issued by the Ministry of Industry and Information Technology of the People’s Republic of China.
CCGN’s acquisition of special license of Guidance Finance had the cooperative effect on the issuance of SP License. This meant that the Company took a big step forward in the development of IoT. Currently amid the era of mobile Internet, the convenient mobile terminals drive the business development of all industries on mobile terminal. At present, the size of mobile citizens only in China hits 600 million, accounting for 89.5% of the total. Along with the fast-growing size of mobile citizens, the act of small & micro loans was shifted from the original advertising flyers to PC terminal and then to mobile terminal gradually. The mobile terminal has become the largest scene entrance.
At present, CCG Guidance Finance has established WeChat terminal and WAP terminal. By following and binding the official WeChat account of Guidance Finance, users can read the digest push of Guidance Finance and also consult matters of borrowings via WAP terminal. In the future development, Guidance Finance will also perfect and refine all functions by proceeding from the experience of mobile subscribers, so as to create better experience for users as far as possible and optimize the borrowing channels for the small & micro entrepreneurs with borrowing demands.
Guidance Finance is a member unit of China Association of Microfinace. Since its inception, it has provided the dignified financial services for trustworthy small & micro enterprises by adhering to the essence of information intermediary. In future, Guidance Finance will also make its contribution to the sound development of the industry on the spirit of more integrity, openness, transparence and fairness.
On December 19, 2016, Hong Kong Zhongzhengda Independent Audit Firm conducted 8K audit on the CCGN’s acquisition of Guidance Finance, and confirmed the financial statements of two fiscal years as at December 31, 2015 and December 31, 2016, respectively. The onsite audit of Zhongzhengda’s professional services will be scheduled in early January 2017. It is expected that the 8K financial audit report on the acquisition of Guidance Finance will be completed and submitted to SEC on January 30, 2017.
Gao Jianmin, CEO of CCGN expressed, “On the premise of maintaining the entirety of CCGN, the acquisition of Guidance Finance created the operating income of RMB39.56 million in October 2016, contributing to the net profit of RMB22.42 million. The consolidated financial statements showed that the operating income of CCGN in 2016 rises at least by RMB39.56 million, creating a growth of at least RMB22.42 million in net profit. It is expected that Guidance Finance will create the operating income of RMB76.83 million and achieve the net profit of RMB43.56 million for CCGN in 2017.
Gao Jianmin, CEO of CCGN further indicated, “CCGN will continue to expand its market share by merger and acquisition of good enterprises, and do utmost to maximize the interest of both the Company and its shareholders, and make preparation for the future upgrading to be listed on NASDAQ!