CHCG China 3C Group featured news, full reports, and detailed charts
China 3C Group (CHCG/CHCG.OB) Wrap Up:
China 3C Group engages in the resale and distribution of mobile phones, facsimile machines, DVD players, stereos, speakers, MP3 and MP4 players, iPods, electronic dictionaries, CD players, radio Walkmans, and audio systems in the People?s Republic of China. The company also offers cell phones products; televisions and air conditioners; fax machines and cord phone products; digital products, including digital cameras, digital camcorders, PDAs, flash disks, and removable hard disks; and information technology products, including notebook or laptop computers. On the retail side, the company distributes its products through concessionaire agreements with larger department stores, supermarkets, large electronics retail stores, and other retailers. As of December 31, 2008, it operated 1,014 ?stores in stores? under the brand names of Hangzhou Wang Da, Yiwu YongXin, Shanghai Joy & Harmony, and Hangzhou Sanhe. The company is based in Hangzhou City, the People?s Republic of China.www.china3cgroup.com
1,807 Employees
China 3C Group (CHCG:OTC Bulletin Board Market)
LAST $0.50 USD
CHANGE TODAY -0.002 -0.40%
VOLUME 186.1K
As of 3:52 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of China 3C Group (CHCG)
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OPEN
$0.50
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PREVIOUS CLOSE
$0.50
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DAY HIGH
$0.52
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DAY LOW
$0.49
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52 WEEK HIGH
05/7/09 - $1.84
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52 WEEK LOW
03/10/09 - $0.37
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MARKET CAP
27.4M
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AVERAGE VOLUME 3 mo
324.9K
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DILUTED EPS TTM
$0.19
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SHARES OUTSTANDING
54.8M
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CHCG Does Not Pay Dividends
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P/E TTM
2.6x
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CHCG Top Compensated Officers
Mr. Zhenggang Wang
Chairman and Chief Executive Officer
Age: 40
Total Annual Compensation: $27.8K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for China 3C Group (CHCG)
China 3C Group Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2009 ; Provides Earnings Guidance for the Third Quarter and Full Year 2009; Announces Restructuring Plans
08/17/2009
China 3C Group reported unaudited consolidated earnings results for the second quarter ended June 30, 2009. Net sales for the second quarter of 2009 decreased 34.9% to $51.1 million compared to $78.5 million for the same period of the prior year. Lower sales were a result of various factors, including a general slowdown in the retail markets, weaker demand for consumer and business electronics due to weakened global financial conditions, as well as the pressure of increased competition within the markets in which the Company operates. Income from operations for the second quarter of 2009 was $1.3 million, or 2.0% of net sales, compared to income from operations of $9.6 million for the second quarter of 2008, or 12.0% of net sales. Net income was $0.9 million, or $0.02 per diluted share, for the second quarter of 2009, compared to $8.8 million, or $0.14 per diluted share, for the second quarter of 2008. Income before income taxes was 1.3 million against $9.9 million a year ago. Net cash provided by operating activities was $0.7 million against net cash used in operating activities of $1.7 million reported a year ago. Purchase of property and equipment was $0.4 million against $0.1 million a year ago. For the 2009 third quarter, the company currently expects sales to be in the range of $40-$50 million and gross margin to be in the range of 10-11%. For the full year, the company expects revenue to total approximately $200 million and gross margin to be in the range of 9-12%. The company had 979 store-in-store locations at the end of the second quarter of 2009 compared to 1,001 in the prior year period and 990 at the end of the first quarter of 2009. The company expects to reduce its total number of store-in-stores to 950 at the end of the third quarter of 2009 and 900 store-in-stores by year end. The company plan to open 2-4 direct stores and 4-6 franchise stores in the third quarter of 2009 which will be located in smaller cities and towns in the Zhejiang province.
YongXin Reports Earnings Results for the Second Quarter Ended June 30, 2009
08/17/2009
YongXin reported earnings results for the second quarter ended June 30, 2009. Second quarter 2009 revenue decreased 37.8% to $10.6 million compared to $17.0 million in the prior year period. Second quarter gross profit margin was 7.2%.
China 3C Group announced delayed 10-Q filing
08/10/2009
On 08/10/2009, China 3C Group announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
CHCG Competitors
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Industry Analysis
| Valuation | CHCG | Industry Range |
| Price/Earnings | 1.5x |
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| Price/Sales | 0.1x |
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| Price/Book | 0.3x |
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| Price/Cash Flow | 1.5x |
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| TEV/Sales | 0.0x |
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CHCG transactions
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More Recent News About China 3C Group
More news for CHCG
China 3C Group Reports Third Quarter 2009 Financial Results
HANGZHOU, China, Nov. 17 /PRNewswire-Asia-FirstCall/ -- China 3C Group ("China 3C" or the "Company") (OTC: CHCG - News), a retailer and wholesale distributor of consumer and business products in China, announced financial results for the third quarter of 2009. Net sales for the third quarter of 2009 decreased 44.4% to $44.0 million compared to $79.1 million for the same period of the prior year. Lower sales were a result of various factors, including a general slowdown in the retail markets, weaker demand for consumer and business electronics due to weakened global financial conditions, as well as increased competition from telecom service providers who opened their own direct operating stores to sell communication products. The Company's retail business generated approximately 68% of its sales while the wholesale business generated approximately 32% of its sales in the third quarter.Among the Company's four major operating subsidiaries, the net combined retail and wholesale revenue contribution of each subsidiary was as follows: -- WangDa (cell phones) third quarter 2009 revenue decreased 63.8% to $9.8 million compared to $27.0 million the prior year period. Third quarter gross profit margin for WangDa was 8.2%. -- SanHe (appliances) third quarter 2008 revenue decreased 30.8% to $11.9 million compared to $17.3 million in the prior year period. Third quarter gross profit margin for SanHe was 12.2%. -- Joy & Harmony (consumer electronics) third quarter 2009 re...Click here to read the whole Article (external link)
CHINA 3C GROUP Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Overview China 3C Group was incorporated on August, 20, 1998 under the laws of the State of Nevada. Capital Future Developments Limited ("Capital") was incorporated on July 22, 2004 under the laws of the British Virgin Islands. Zhejiang Yong Xin Digital Technology Co., Ltd. ("Zhejiang"), Yiwu Yong Xin Communication Ltd. ("Yiwu"), Hangzhou Wandga Electronics Co., Ltd. ("Wang Da"), Hangzhou Sanhe Electronic Technology, Limited ("Sanhe"), and Shanghai Joy & Harmony Electronic Development Co., Ltd. ("Joy & Harmony") were incorporated under the laws of Peoples Republic of China on July 11, 2005, July 18, 1997, March 30, 1998, April 12, 2004, and August 25, 2003, respectively. China 3C Group owns 100% of Capital and Capital own 100% of the capital stock of Joy & Harmony and Sanhe. Until August 14, 2007, when it made the change to its ownership structure described in the next paragraph in order to comply with certain requirements of PRC law, Capital owned 100% of the capital stock of Zhenjiang. Zhejiang owns 90% and Yiwu owns 10% of Wang Da. Zhejiang owns 90% and Wang Da owns 10% of Yiwu. On March 10, 2009, Zhejiang set up a new operating entity, Hangzhou Letong Digital Technology Co., Ltd. ("Letong") to establish an electronic retail franchise operation for China 3C Group. On July 6, 2009, the Company completed the acquisition of Jinhua Boafa Logistic, Ltd ("Jinhua"). Collectively the eight corporations are referred to herein as the Company. On December 21, 2005 Capital became a wholly owned subsidiary of China 3C Group through a merger with a wholly owned subsidiary of the Company ("Merger Transaction"). China 3C Group acquired all of the issued and outstanding capital stock of Capital pursuant to a Merger Agreement dated at December 21, 2005 by and among China 3C Group, XY Ac...Click here to read the whole Article (external link)
CHINA 3C GROUP Files SEC form 8-K/A, Financial Statements and Exhibits
Show all filings for CHINA 3C GROUP | Request a Trial to NEW EDGAR Online Pro Form 8-K/A for CHINA 3C GROUP 9-Oct-2009Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intende...Click here to read the whole Article (external link)
CHINA 3C GROUP Financials
PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue51,126 77,412 84,919 79,057 Cost of Revenue45,105 67,353 71,546 67,211 Gross Profit6,020 10,059 13,374 11,846 Operating ExpensesResearch Development - - - - Selling General and Administrative4,749 5,486 4,089 3,731 Non Recurring - - - - Others - - - - Total Operating Expenses - - - - Operating Income or Loss1,271 4,572 9,284 8,115 Income from Continuing OperationsTotal Other Income/Expenses Net35 66 140 417 Earnings Before Interest And Taxes1,306 4,638 9,424 8,532 Interest Expense - - - - Income Before Tax1,306 4,638 9,424 8,532 Income Tax Expense392 1,199 2,278 2,169 Minority Interest - - - - Net Income From Continuing Ops914 3,440 7,146 6,364 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - ...Click here to read the whole Article (external link)
CHINA 3C GROUP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits
Show all filings for CHINA 3C GROUP | Request a Trial to NEW EDGAR Online Pro Form 8-K for CHINA 3C GROUP 21-Aug-2009Results of Operations and Financial Condition, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "a...Click here to read the whole Article (external link)
CHINA 3C GROUP Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Overview China 3C Group was incorporated on August, 20, 1998 under the laws of the State of Nevada. Capital Future Developments Limited ("CFDL") was incorporated on July 22, 2004 under the laws of the British Virgin Islands. Zhejiang Yong Xin Digital Technology Co., Ltd. ("Zhejiang"), Yiwu Yong Xin Communication Ltd. ("Yiwu"), Hangzhou Wandga Electronics Co., Ltd. ("Wang Da"), Hangzhou Sanhe Electronic Technology, Limited ("Sanhe"), and Shanghai Joy & Harmony Electronic Development Co., Ltd. ("SJHE") were incorporated under the laws of Peoples Republic of China on July 11, 2005, July 18, 1997, March 30, 1998, April 12, 2004, and August 25, 2003, respectively. China 3C Group owns 100% of CFDL and CFDL own 100% of the capital stock of SJHE and Sanhe. Until August 14, 2007, when it made the change to its ownership structure described in the next paragraph in order to comply with certain requirements of PRC law, CFDL owned 100% of the capital stock of Zhenjiang. Zhejiang owns 90% and Yiwu owns 10% of Wang Da. Zhejiang owns 90% and Wang Da owns 10% of Yiwu. On March 10, 2009 Zhejiang set up a new operating entity, Hangzhou Letong Digital Technology Co., Ltd. ("Letong") to establish an electronic retail franchise operation for China 3C Group. On July 6, 2009, the Company completed the acquisition of Jinhua Boafa Logistic, Ltd. Collectively the eight corporations are referred to herein as the Company. On December 21, 2005 CFDL became a wholly owned subsidiary of China 3C Group through a merger with a wholly owned subsidiary of the Company ("Merger Transaction"). China 3C Group acquired all of the issued and outstanding capital stock of CFDL pursuant to a Merger Agreement dated at December 21, 2005 by and among China 3C Group, XY Acquisition Corporation, CFDL and the shareholders of CFDL (the &quo...Click here to read the whole Article (external link)
CHINA 3C GROUP Files SEC form 8-K, Completion of Acquisition or Disposition of Assets, Other Events, Financial Statem
Show all filings for CHINA 3C GROUP | Request a Trial to NEW EDGAR Online Pro Form 8-K for CHINA 3C GROUP 10-Jul-2009Completion of Acquisition or Disposition of Assets, Other Events, Financial Statem Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information prov...Click here to read the whole Article (external link)
China Investing: Like a Kid in a Toy Store
Stock quotes in this article: CHID , CCGY , GU , ...Click here to read the whole Article (external link)
CHINA 3C GROUP Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 15, 2009, China 3C Group (the "Company") received notification from Weidong Huang that effective immediately, he resigned from his position as Chief Financial Officer of the Company. There were no disagreements between Mr. Huang and the Company on any matter relating to the Company's operations, policies or practices, which resulted in his resignation. Effective as of June 16, 2009, the Board of Directors of the Company appointed Jian Zhang as Chief Financial Officer of the Company. Prior to his appointment as Chief Financial Officer of the Company, Mr. Zhang, age 40, served as Chief Accounting Officer of Zhejiang Yong Xin Digital Technology Company Limited, a subsidiary of the Company, from October 2006 to June 2009, where he was responsible for the coordination of audits and filing of the Company's quarterly and annual reports. He also played a role in the oversight of the accounting department to ensure the maintenance of all accounting systems and functions. From October 2006 to October 1999, Mr. Zhang served as Deputy Chief of the Accounting Department of Guangdong Xidea Technology Group, a large-scale diversified manufacturer and investment company. From October 1998 to October 1999, Mr. Zhang served as Deputy Chief of the Accounting Department of Guangdong Shunde Hongji Group, a furniture manufacturer with more than 200 employees. Mr. Zhang received a Bachelor's Degree in Accounting from Renmin University of China. Mr. Zhang has entered a letter agreement, dated June 16, 2009, with the Company. The agreement provides for a monthly salary of $6,000. The term of Mr. Zhang's employment shall continue until terminated by either party in accordance with the terms of the agreement. Mr. Zhang received an option grant to purchase 100,000 shares of common stock of the Company upon execution of the agreem...Click here to read the whole Article (external link)
CHINA 3C GROUP Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
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