HANGZHOU, China, Feb. 17 /PRNewswire-Asia-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG), a retailer and wholesale distributor of consumer and business products in China, today announced that its subsidiary, Hangzhou Sanhe Electronic Technology Limited ("Hangzhou Sanhe") signed a sales agent agreement with Guangzhou Haoyong Industry Co. Ltd. ("Haoyong"), a leading producer of home theater systems in Southern China. The one-year sales agent agreement authorizes Hangzhou Sanhe to sell Haoyong’s famous "Red Orient" home theater products.
Founded in 1995, Guangzhou Haoyong is a leading electronic producer in Southern China focusing on home audio products. Its main product lines include home theater, amplifier, multimedia speaker, DVD mini combo and DVD player. The Company has more than 1,000 employees. For more information, please visit http://www.haoyong.cn .
Mr. Zhenggang Wang, CEO of China 3C, said, "We are pleased to enter into this sales agent agreement with Haoyong and believe our cooperation can further diversify China 3C’s product lines and increase our profitability. Red Orient home theater products will be introduced into all 234 of Hangzhou Sanhe’s retail locations, which are located in hypermarkets, large electronic chains, supermarkets, regional and independent chain stores in Eastern China. We believe sales of Haoyong’s home theater products can benefit from our extensive base of stores and that 3C can continue to increase customer traffic to Sanhe store locations by enhancing our product offering with key manufacturers like Haoyong.”
About China 3C Group
China 3C is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company’s goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com .
Forward-looking Statements: Certain statements set forth in this press release constitute "Forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We have included and from time to time may make in our public filings, press releases or other public statements, certain forward-looking statements, including, without limitation, those under "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of our Annual Report on Form 10-K. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" or words or expressions of similar meaning. You are cautioned not to place undue reliance on these forward- looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control. There can be no assurance that such forward-looking statements will prove to be accurate and China 3C Group undertakes no obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
