HANGZHOU, China, Dec. 23, 2013 /PRNewswire / -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") today announced its plan to launch a new business unit in New York City (the "New Business Unit"). By leveraging the rich resources of the China Commodity City in Yiwu, Zhejiang Province, which is China's renowned commodity wholesale market, Yosen's New Business Unit will commence its international trade and wholesale business in the overseas market. Yosen is also headquartered in Zhejiang Province and was originally founded in Yiwu City.
In 2005, China Commodity City was honored by the United Nations, the World Bank and Morgan Stanley, among other world authorities, as the "largest small commodity wholesale market in the world". Today, occupying a total operating area of over 50 million square feet, China Commodity City has been ranked No. 1 for twenty-two (22) years consecutively among China's major wholesale markets. Founded almost twenty (20) years ago in Yiwu City, Yosen Group and its management have a long established and extensive local network. Yosen has been trying to grasp the best collaboration angle so as to optimize these resources and maximize shareholders' value. Today's establishment of the New Business Unit in New York is anticipated to be the very first step of Yosen's international expansion strategy which is based on leveraging the resources in Yiwu China Commodity City.
Yosen's CEO Mr. Zhenggang Wang commented, "In the coming year, Yosen will continue strengthening its cooperation with the world's first class players. Yosen is committed to bringing the world's best products into China, and in the meantime will be bringing China's competitive products overseas by expanding its international wholesale business. After our long preparation, we have finally identified an experienced management team in New York and secured the best market entry point. The time is ready now for Yosen to commence our international trade and wholesale business starting with New York. We anticipate our business in New York to be a significant growth area for the Company over the next few years and will be ready to provide more updates for our shareholders in the beginning of January 2014."
About Yosen Group, Inc.
Yosen Group is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company operates under the Yosen and Wang Da brand names. For more information, visit http://www.yosn.com/.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
For more information, please contact:
SOURCE Yosen Group, Inc.