March 05, 2015 5:32 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.

Chief Financial Officer and Secretary
Age: 37
Total Annual Compensation: $79.0K
Compensation as of Fiscal Year 2013.

China Commercial Credit, Inc. Key Developments

China Commercial Credit Receives Delisting Notice From NASDAQ

On February 24, 2015, China Commercial Credit, Inc. announced that on February 19, 2015 the Company received a notice from The Nasdaq Stock Market indicating that, since the Company failed to file the Form 10-Q for the quarter ended September 30, 2014 (the “Q3 10-Q”) with the Securities and Exchange Commission by the required date of February 17, 2015, pursuant to Nasdaq Listing Rule 5810 (b), trading of the Company’s common stock will be suspended from The Nasdaq Capital Market at the opening of business on March 2, 2015. In connection with such suspension a Form 25-NSE will be filed by Nasdaq with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market, unless the Company requests an appeal of this determination. The Company has appealed the above determination to a Hearings Panel pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. Nasdaq has granted a 15-day stay of the suspension until March 13, 2015 and notified the Company that the hearing is scheduled for April 16, 2015. The Company has requested a further stay of the suspension through the hearing date.

China Commercial Credit, Inc. Announces Management Changes

On December 29, 2014, the Board of Directors of China Commercial Credit, Inc. appointed Mr. Jingen Ling as the Chief Executive Officer and President of the Company. Effective immediately, Mr. Long Yi, the Chief Financial Officer of the Company ceased to be the Interim Chief Executive Officer of the Company. Mr. Ling, has served as a director of the Company since the consummation of initial public offering on August 12, 2013. From 2003 to 2012, he served as a chairman of the board of directors of Suzhou Dingli Real Estate Co. Ltd.

China Commercial Credit, Inc., Annual General Meeting, Dec 29, 2014

China Commercial Credit, Inc., Annual General Meeting, Dec 29, 2014., at 11:00 China Standard Time. Location: No. 1688, Yunli Road. Agenda: To elect Jingen Ling, John Levy, Xiaofang Shen and Chunjiang Yu to serve on the company’s Board of Directors for a term of one year; to consider ratification of selection of Marcum Bernstein & Pinchuk LLP as the company’s independent registered public accounting firm for 2014; to authorize and approve the company’s 2014 Equity Incentive Plan; to conduct a non-binding advisory vote on the company’s executive compensation; to conduct a non-binding advisory vote recommending the frequency of advisory votes on executive compensation; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
July 28, 2014
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