SOURCE: Dragon Capital Group Corp.

September 04, 2007 07:30 ET

Dragon Capital Group Reports $21.6M Revenue From Its Subsidiaries for the First Six Months of Fiscal 2007

Operating Income From Subsidiaries Reaches $700,813 for First Six Months of Fiscal 2007

SHANGHAI, CHINA--(Marketwire - September 4, 2007) - Dragon Capital Group Corp. (PINKSHEETS: DRGV), a holding company for emerging technology companies in China, today announced its un-audited operating results for the second quarter and six months ended June 30, 2007.

On a consolidated basis the company's revenues for its six subsidiaries was approximately $10.8 million for the second quarter of 2007 and $21.6 million for the first six months of 2007. Operating income before taxes and non cash expenses for the six subsidiaries was approximately $361,000 for the quarter and $700,000 for the first six months of 2007.

On a consolidated basis the company reported a loss of approximately $215,000 for the first six months of 2007, which includes $880,000 in non cash expenses. During the first six months of 2007 the company continued to improve its balance sheet as total assets rose to approximately $12.3 million, up from approximately $10.1 million at the end of fiscal 2006. Shareholder equity rose to $6.4 million in the quarter as compared to $5.2 million at the end of fiscal 2006. The company has published its financial statements with financial notes, which are available for public viewing via http://www.pinksheets.com.

Lawrence Wang, CEO of Dragon Capital Group, stated, "We continue to build a strong financial foundation as our net operating results consistently improve. Our balance sheet continues to strengthen through positive cash flow which will enable us to expand throughout the remainder of 2007. We continue to grow our core business operations as we look to acquire other complementary technology business opportunities. We are confident that our strategy will lead to continued success throughout this year and into 2008."

About Dragon Capital Group Corp.

Dragon Capital Group Corp. (PINKSHEETS: 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, offering support in the critical functions of general business consulting, formation of joint ventures, access to capital, merger & acquisition, business valuation, and revenue growth strategies. DRGV has developed a portfolio of high-tech companies operating in China. For more information about DRGV, please visit http://www.dragoncapital.us

An investment profile on Dragon Capital may be found at http://www.hawkassociates.com/drgvprofile.aspx. Copies of Dragon press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive free e-mail notification of future releases for Dragon Capital, sign up at http://www.hawkassociates.com/email.aspx.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and, condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive products, pricing and new technology; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information