SHANGHAI - Dragon Capital Group Corp. (OTC: DRGV), a leading holding company of emerging high-tech companies in China, announced today its wholly owned subsidiary, Shanghai Yazheng Information Technology Co., Limited ("Yazheng"), has received contracts for the installation of automated control systems at three water treatment plants in China. The total value of the contracts is estimated to be approximately $1.5 million in 2013.
The first project focuses on the installation automated control systems and chlorination monitoring equipment for a water treatment plant located in Qidong, Jiangsu Province. The second and third contracts, where Yazheng serves as a subcontractor for two larger projects, call for the installation of automated control systems for water treatment at two plants located in Yanzhou, Shandong Province and Zhoucheng, Shangdong Province.
Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, stated, "We are very pleased to have been awarded these three new contracts for the fiscal year of 2013 as it continues to validate the efforts of our software development team's efforts in creating state of the art software for public works projects. We intend to bid on additional projects in 2013 both as lead and subcontractors in an effort to further expand our revenue and profits in this software business. We believe these new projects will improve our bottom line results in 2013 and also help our company generate additional cash flow to support our mobile software solutions launches. We are confident that our diversified technology based businesses place our company in a position to grow our top and bottom line results for 2013 and the years to come."
About Dragon Capital Group Corporation
Dragon Capital Group Corp. (OTC: 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.
Dragon Capital Group Corp.