DALIAN, China, Aug 12 /PRNewswire-Asia-FirstCall/ -- The subsidiary of
China Mining Guarantee Fund, Qinghai ZhengDa Credit Guarantee Co., Ltd.
(hereafter referred to as "Qinghai ZhengDa ") announced the signing of a
Merger Agreement with the subsidiary of China Yibai United Guarantee
International Holding Inc. (Pink Sheets: CBGH), Dalian Yibai SMEs Guarantee
Ltd. (hereafter referred to as "Dalian Yibai"). According to the agreement,
Dalian Yibai will hold 20 percent of authorized stock and is authorized to
operate the whole actions of Qinghai ZhengDa.
In terms of this cooperation, "The agreement about merger is a case of
consolidation merger in the capital market. Dalian YiBai reaches an alliance
with Qinghai ZhengDa to commence equity mortgage guarantee and loan businesses
about enterprises in West regions in China," said Mr. Li Li, CEO of China
YiBai. "Additionally, this merger will lay the foundation for finance
collectivization of China YiBai at the end of 2010."
About China YiBai United Guarantee International Holding Inc.
China YiBai United Guarantee International Holding Inc. (hereafter
referred to as "China YiBai "), is a financial company specializing in
providing financial services for domestic SMEs. IG Finance Inc., together with
China Dragon International Investment (HK) Co., Ltd. are overseas subsidiary
of China YiBai. Dalian YiBai Small & Medium Enterprises Guarantee Co., Ltd.
(hereafter referred to as "Dalian YiBai "), is the Chinese subsidiary and main
body of operation. Dalian Yibai is engaged in providing value added services
for Chinese SMEs including equity mortgage guarantee and loan services,
Finance Consultant, design of listing and merger plans as well as core
competitiveness. Combing professional services of that of consultancy firms,
accounting firms, law firms and securities traders, Dalian YiBai works with
investment institutions in providing thoughtful and considerate services to
enterprises to fulfil their share capital increasing and second financing
needs. Recently, Dalian YiBai acquired the qualification as sponsor and
market-maker from Tianjin Equity Exchange and is now specialized in financial
services for non-listing enterprises. For additional information, please visit
http://www.yibaichina.com .
About Qinghai ZhengDa Credit Guarantee Co., Ltd.
Qinghai ZhengDa Credit Guarantee Co., Ltd. (hereafter referred to as
"Qinghai ZhengDa") was established in 2008 with registered capital of RMB 166
million. Qinghai ZhengDa specializes in loan and credit guarantee, capital
management, entrust loan of small amount and national banks' entrust and
investment. Additionally, Qinghai ZhengDa is engaged in project implementation
guarantee and property preservation guarantee. Moreover, Qinghai ZhengDa also
functions as a financial consultant.
China Mining United Fund, established by China Mining United Investment
Group, the parent company of Qinghai ZhengDa, is among the first batch of
mining investment funds approved by the Development and Reform Commission.
China Mining United Fund runs and operates with domestic and foreign excellent
mineral companies and financial capitals. For additional information, please
visit http://www.cmufund.com/ .
SOURCE China YiBai United Guarantee International Holding Inc.