December 18, 2014 5:07 PM ET

Diversified Financial Services

Company Overview of China Commercial Credit, Inc.

Company Overview

China Commercial Credit, Inc., through its subsidiaries, operates as a microcredit company in the People’s Republic of China. It provides direct loans, including secured loans comprising guarantee-backed loans, collateral-backed loans, and pledge-backed loans; and unsecured loans. The company also offers financial guarantee services to third party lenders. It serves small-to-medium sized businesses, farmers, and individuals in Wujiang, Jiangsu Province. The company was founded in 2008 and is based in Wujiang, the People’s Republic of China.

No. 1688, Yunli Road

Tongli

Wujiang,  

China

Founded in 2008

26 Employees

Phone:

86 512 6396 0022

Key Executives for China Commercial Credit, Inc.

Interim Chief Executive Officer
Age: 37
Total Annual Compensation: $79.0K
Compensation as of Fiscal Year 2013.

China Commercial Credit, Inc. Key Developments

China Commercial Credit Receives Nasdaq Notice On Late Filing Of Second Quarter 10-Q

China Commercial Credit, Inc. announced that it has received a Notice from the Nasdaq Stock Market notifying the company that, due to its Form 10-Q for the quarter ended September 30, 2014 not being filed with the Securities and Exchange Commission by the required date of November 14, 2014, the company is therefore not in compliance with the periodic filing requirements for continued listing set forth in NASDAQ Listing Rule 5250(c)(1). This Notice, which has no immediate effect on the listing or trading of CCCR shares, gives the company until December 4, 2014 to provide an update to its plan to regain compliance previously submitted to Nasdaq and indicate the progress the Company has made towards implementing the plan. The company expects to file its Q3 10-Q as well as the Form 10-Q for quarter ended June 30, 2014 by February 17, 2015, the due date set forth in its plan of compliance.

China Commercial Credit Receives Non-Compliance Notice From NASDAQ

China Commercial Credit, Inc. said it has received a Notice from the Nasdaq Stock Market notifying the company that, due to its Form 10-Q for the second quarter ended June 30, 2014 not being filed with the Securities and Exchange Commission by the required date of August 15, 2014, the company is therefore not in compliance with the periodic filing requirements for continued listing set forth in NASDAQ Listing Rule 5250(c)(1). This Notice, which has no immediate effect on the listing or trading of CCCR shares, gives the company 60 calendar days (until October 28, 2014) to submit a response detailing its plan to regain compliance. Upon accepting this plan, Nasdaq can grant an exception of up to 180 calendar days from the Filing's due date, or until February 17, 2015, to regain compliance. The company expects to file its Q2 10-Q prior to the October 28, 2014 deadline.

China Commercial Credit, Inc. Announces Management Changes

On August 21, 2014, Mr. Huichun Qin notified China Commercial Credit, Inc. of his resignation from the board of directors of the company and as the Chief Executive Officer of the company effective immediately. Effective August 21, 2014, the Board appointed Mr. Long Yi, the company's Chief Financial Officer to serve as the interim Chief Executive Officer while the company actively searches for a permanent Chief Executive Officer as well replacements for the other vacancies created by Mr. Qin's resignation.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
July 28, 2014
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