China Digital Communication Group Obtains a $2.15 Million Loan
18 Setembro 2008 - 10:30AM
PR Newswire (US)
SHENZHEN, China, Sept. 18 /PRNewswire-FirstCall/ -- China Digital
Communication Group (OTC:CHID) (BULLETIN BOARD: CHID) , a
manufacturer of battery components in China, announced today that
its wholly-owned subsidiary, Shenzhen E'Jenie Science and
Technology Company Limited (E'Jenie), has obtained a loan in the
amount of approximately $2.15 million from China Construction Bank,
Shenzhen Branch. The transaction of the loan was closed on
September 16, 2008 (Beijing time). The loan is guaranteed by
Shenzhen Hua Yin Guaranty and Investment Limited Liability
Corporation (Shenzhen Hua Yin) and has a one-year term at an
interest rate of 8.59%, which is a 15% premium over the current
7.47% borrowing rate. Principle and interest payments are to be
made on a monthly basis. E'Jenie paid a guarantee fee of $110,000
USD to Shenzhen Hua Yin, who will be liable for any unpaid portion
of the loan if E'Jenie defaults payments. China Digital
Communication Group CEO Zhongnan Xu said, "This loan is an
important step forward in our growth plans. We are evaluating
strategic acquisitions in companies with technologies that are
complimentary to ours." About China Construction Bank China
Construction Bank Corporation (CCB) began in China in 1954 as the
People's Construction Bank of China. Headquartered in Beijing, CCB
has a network of more than 13,000 branches and sub-branches in
Mainland China as of June 30, 2008 and maintains overseas branches
in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo and Seoul.
CCB also has representative offices in London, New York and Sydney
and employs approximately 300,000 people. CCB's H-share was listed
on the Stock Exchange of Hong Kong Limited (SEHK Code: 939) in 2005
and the A-share listed on the Shanghai Stock Exchange (SSE Code:
601939) in 2007. Principal business segments include corporate
banking, personal banking and treasury business. For more
information, visit: http://www.ccb.com/portal/en/home/index.html .
About China Digital Communication Group China Digital Communication
Group owns Shenzhen E'Jenie Science and Technology Development Co.
Ltd. E'Jenie manufactures and sells high-quality lithium-ion
battery shell and cap products to all major lithium-ion battery
cell manufacturers in China and also manufactures complete
batteries. E'Jenie's products are used to power mobile phones, MP3
players, laptops, digital cameras, PDAs, camera recorders and other
consumer electronic digital devices. China Digital Communication
Group is continuing to seek acquisitions. For more information,
visit http://www.chinadigitalgroup.com/ or contact Jacky Jiang of
China Digital Communication Group at e-mail: . An investment
profile on China Digital Communication Group may be found at
http://www.hawkassociates.com/profile/chid.cfm . For an online
investor relations kit, visit http://www.hawkassociates.com/ or
http://www.americanmicrocaps.com/. For more investor-related
questions, contact Frank Hawkins, Hawk Associates, at 305-451-1888,
e-mail: . To subscribe to future releases via e-mail alert, visit
http://www.hawkassociates.com/about/alert/ . This news release
contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying
assumptions and other statements that are other than statements of
historical facts. These statements are subject to uncertainties and
risks including, but not limited to, product and service demand and
acceptance, changes in technology, economic conditions, the impact
of competition and pricing, government regulation, and other risks
contained in reports filed by the company with the Securities and
Exchange Commission. All such forward-looking statements, whether
written or oral, and whether made by or on behalf of the company,
are expressly qualified by the cautionary statements and any other
cautionary statements which may accompany the forward-looking
statements. In addition, the company disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof. DATASOURCE: China Digital
Communication Group CONTACT: Jacky Jiang of China Digital
Communication Group, , or Frank Hawkins, Hawk Associates,
+1-305-451-1888, Web site: http://www.chinadigitalgroup.com/
http://www.ccb.com/portal/en/home/index.html
http://www.hawkassociates.com/profile/chid.cfm
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