SOURCE: Dragon Capital Group Corp

March 08, 2007 08:00 ET

Dragon Capital Group Reports Record Consolidated 2006 Revenues of $42.291 Million and Net Income of $586,340

SHANGHAI, CHINA -- (MARKET WIRE) -- March 8, 2007 -- Dragon Capital Group Corp (PINKSHEETS: DRGV), a leading holding company of emerging technology companies in China, today announced its final unaudited consolidated operating results for the 12 months ended December 31, 2006.

The Company's revenues on a consolidated basis rose to a record of approximately $42.29 million for the 12 months of 2006. Net Income before taxes was approximately $1.47 million and consolidated net income after taxes and minority interest deductions was at the high end of the Company's earlier forecast, reaching approximately $586,340. The Company also reported significant improvement in its balance sheet. Total assets in 2006 rose to approximately $10.1 million with approximately $1.8 million in cash as compared to approximately $3.95 million and approximately $763,000 in 2005 respectively. Shareholder equity rose to $5.23 million as compared to $3.52 million in 2005. The Company has published its financial statements with financial notes, which are available for public viewing via

Lawrence Wang, CEO of Dragon Capital Group, stated, "We are happy to report that our consolidated net income was at the high end of our earlier forecast. We are confident that the base of business forged in 2006 will continue to lead to revenue growth and increased operational efficiencies in 2007. We have improved overall performance and strengthened our balance sheet in 2006. We look forward to continuing that trend in 2007 to maximize the value of our company for its shareholders."

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

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the word expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance.

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