China YiBai United Guarantee International Holding Inc. Signs Listing Financing Agreement with Jingniu Group in Tianjin Equity E
July 01 2009 - 12:51PM
PR Newswire (US)
DALIAN, China, July 1 /PRNewswire-Asia-FirstCall/ -- 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. DATASOURCE: China YiBai United Guarantee
International Holding Inc. CONTACT: China YiBai United Guarantee
International Holding Inc., +86-411-8253-7032, fax
+86-411-8263-1182, Web site: http://www.yibaichina.com/
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