SHANGHAI, April 2, 2014 /PRNewswire/ -- 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 a contract for an automatic control project at a sewage water treatment facility in Hefei City China. The contract is valued at approximately $1 million and is expected to be completed in 2014
The contract is part of the Sewage Treatment Plant Stage Three Project ("Stage Three Project") initiated and led by Hefei Economic Development District Water Corporation. The sewage treatment plant covers an area of 1,435,200 square feet located in Shushan District of Hefei City and, upon completion, the plant will have a targeted capacity to process and treat up to 300,000 metric tons of sewage water on a daily basis. The new facility will apply AAO leading technology and an active sand filtration process. The plant will utilize Yazheng's automatic control system to ensure effective operation and maintenance of the newly installed equipment.
Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, stated "We are very pleased to be awarded this new contract for our automatic control system at this new facility in Hefei City. We have worked hard to develop cost effective controls for utilities and having been selected for this project is evidence that this effort is starting to pay off. This contract and others like it represent high margin revenue and strong cash flow to our company. We look forward to completing this project in 2014 as well as securing similar contracts for other utility projects in the near future. We intend to proactively expand our marketing efforts for this software service in China to grow our top and bottom line financial performance for 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.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the word expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance.
Telephone: (954) 363-7333
Facsimile: (954) 363-7320
SOURCE Dragon Capital Group Corp.