China Penny Stocks
Jul 28, 2008 8:31:00 AM
ZHEJIANG, China, July 28 /Xinhua-PRNewswire-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG), a leading retailer and distributor of consumer and business products in China, announced today that the Company has signed a product distribution agreement with Juda Group, a well-known manufacturer of consumer electronics goods in China.
Under this agreement, China 3C will begin selling all of Juda Group's consumer electronics products as well as provide after-sales service support for these products at all China 3C stores located in the Jiangsu and Zhejiang provinces. Revenues generated from Juda Group's products will benefit China 3C's Sanhe subsidiary.
Juda Group is based in southern China. Its products include DVD players, high definition DVD players, home theater systems and stereo equipment. It has been the recipient of multiple prestigious industry awards related to trustworthy consumer products and ''Famous Chinese brands'' products. The Company has over 5,000 employees and operates from a 48,000 square meter facility.
Mr. Zhuang Bingwu, CEO of Juda Group, said, ''We are delighted to establish this relationship with China 3C Group. This agreement marks our first entry into the eastern China market and we are honored to align ourselves with a retailer that has significant distribution capability and a strong 'store-in-store' presence in the Huadong region."
Mr. Wang Zhenggang, CEO of China 3C, commented, ''Our cooperation with the Juda Group further diversifies our product offering and provides greater options to our basic customers. We are also pleased that this agreement provides after-sales service support, which is a new initiative that can strengthen our manufacturing relationships and develop additional higher margin revenue opportunities for our business.''