Dragon Capital Group Receives Contract from Shanghai North Gas Company for Intelligent Regulator Control System
SHANGHAI, April 7, 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 from Shanghai North Gas Company, Limited ("Shanghai North Gas") for an intelligent regulator control system at Jinshajiang Gate Station.
In January, 2014, Shanghai North Gas officially approved and initiated the project "Intelligent Regulator Joint Control System" at Jinshajiang Gate Station. This project has comprehensively considered many factors such as technology, economic, gas pipeline and other basic production facilities, and how the operation of this project will directly affect the company's production efficiency and profit, the public safety and property security.
Yazheng was selected by Shanghai Gas to install its intelligent software system as part of the project and expects to complete installation in 2014. The fully automated system will enable Shanghai Gas to have centralized control and monitoring of all related equipment at the gate station as opposed to single control of each system individually. Through the system's hydraulic calculation model, problems with anything related to the high-medium pressure regulators and related equipment can be pinpointed so as to improve the dispatch system for repairs. Currently, a considerable number of gas companies, gate stations and storage stations in China are still operated manually or by a single automatic control mode, resulting in inefficient management of resources.
Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, stated, "We are pleased to have been selected by Shanghai Gas for this important project at their Jinshajiang Gate Station We are confident that this installation will demonstrate the expansive capabilities of our software and serve as a model for other gas companies across China who are seeking ways to become more efficient to improve profitability. We intend to further our marketing efforts for this software and related services to other gas companies in 2014 as we build this business into an important source of high margin revenue for our company in 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
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.