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Change Today -0.099 / -3.57%
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As of 2:02 AM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

china commercial credit inc (CNG) Snapshot

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52 Week High
11/6/13 - €7.44
52 Week Low
06/25/14 - €2.20
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china commercial credit inc (CNG) Details

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.

26 Employees
Last Reported Date: 05/9/14
Founded in 2008

china commercial credit inc (CNG) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $125.7K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $79.0K
Compensation as of Fiscal Year 2013.

china commercial credit inc (CNG) Key Developments

China Commercial Credit, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

China Commercial Credit, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net income of $1,093,633, or $0.105 per basic and diluted share, on net revenue of $2,054,009. This compares with net income of $1,569,868, or $0.174 per basic and diluted share, on net revenue of $2,670,253 in the like year-ago quarter. The decrease in first quarter net income was primarily the result of an increase of approximately $354,000 in the provision for financial guarantee services over the same provision in the first quarter of last year. The current year first quarter was also impacted by a reduction of approximately $113,000 in commissions and fees from the company's traditional loan guarantee service, mainly the result of a transition from CCC's traditional guarantee services to an online guarantee services platform operated by the Finance Office of Jiangsu Province. Total interest and fees income was $2,898,922 compared to $3,009,245 for the same period a year ago. Net interest income was $2,653,732 compared to $2,703,090 for the same period a year ago. Net interest income after provision for loan losses was $2,065,552 compared to $2,214,874 for the same period a year ago. Income before taxes was $1,278,358 compared to $1,868,736 for the same period a year ago.

China Commercial Credit, Inc. announced delayed 10-Q filing

On 05/16/2014, China Commercial Credit, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

China Commercial Credit, Inc. Launches Pride Lending Club Online Loan Portal

China Commercial Credit, Inc. has launched Pride Lending Club,, an online loan portal subsidiary pairing prospective borrowers with willing lenders and qualified loan guarantors throughout China. The portal, China's first to be offered and managed by a microcredit company, is designed to increase the safety of online loans by requiring each loan application to be fully guaranteed by a qualified guarantor -- a microcredit or loan guarantee firm or other financial service entity -- prior to the loan being issued. Pride has to date reached agreement with four such entities to provide these guarantees such that at any one time, guarantees can be provided for loans with an aggregate principal amount of up to $55 million.


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Price/Sales 3.2x
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