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10.12.2015 15:05
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Dragon Capital Group, Inc. Reports Strong Financial Results for the Third Quarter and the First Nine Months of 2015
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PR Newswire
SHANGHAI, December 10, 2015
SHANGHAI, December 10, 2015 /PRNewswire/ --
Dragon Capital Group Corp. (OTC: DRGV), a holding company of emerging high-tech companies in China, announced today its financial results for the quarter and the first nine months ended September 30, 2015.
Financial Highlights
For the nine months ended September 30, 2015, total revenues were $16.2 million, compared to revenues of $14.3 million recorded in the same period in 2014, an increase of 13%. For the third quarter of 2015, total revenue were $5.73 million as compared to $5.03 million recorded in the same period in 2014, an increase of 14%. Comprehensive net income attributable to Dragon Capital Group in the third quarter of 2015 ended September 30, 2015 was $474,952 inclusive of a $15,738 gain from discontinued operations, compared to $329,690 recorded for the same period of 2014, an increase of 44%. In the first nine months ended September 30, 2015, comprehensive net income attributable to Dragan Capital Group were $1,401,251, compared to $218,326 recorded for the same period of 2014, an increase of 540%.
Balance Sheet
As of September 30, 2015, total assets were $10.7 million and shareholder equity was $9.0 million, compared to total assets were $10.3 million as of September 30, 2014. Working capital was $8.8 million as of September 30, 2015, compared to $8.7 million as of September 30, 2014. As of September 30, 2015, the company has cash of $533,017, compared to cash of $346,375 as of December 31, 2014.
Commenting on our results for the third quarter and the first nine months of 2015, Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, "As expected, we substantially increase our profit margin in the fiscal year of 2015 compared to the fiscal year of 2014. We are excited to see the continuous improvement in our revenue and substantial improvement in our profit margin, as our marketing effort has been paid off in sales of higher margin utility monitoring automation software and services at our Shanghai Yazheng subsidiary, and mobile software applications from our Shanghai Zhiye subsidiary. We plan to continue our effort in expanding our software and mobile businesses in the coming year. We believe we are able to increase our profit margin in 2016."
About Dragon Capital Group Corporation
Dragon Capital Group Corp. (OTC: DRGV) is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. DRGV functions as an incubator of high-tech companies in China. DRGV has developed a portfolio of high-tech companies operating in China. For more information about DRGV, please visit http://www.drgv.us
Safe Harbor Statement
DISCLOSURE NOTICE:
Dragon Capital Group Corp is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
Contact:
Peisha Shen
U.S. Representative
Telephone: +1-954-363-7333
Facsimile: +1-954-363-7320
Email: info@dragoncapital.us
SOURCE Dragon Capital Group Corp.
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