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September 04, 2015 5:18 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; and financial leasing services. 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,  215200

China

Founded in 2008

21 Employees

Phone:

86 512 6396 0022

Key Executives for China Commercial Credit, Inc.

Chairman, Chief Executive Officer, President, Member of Nominating & Governance Committee and Member of Compensation Committee
Age: 49
Total Annual Compensation: $24.2K
Chief Financial Officer, Secretary and Director
Age: 38
Total Annual Compensation: $53.2K
Compensation as of Fiscal Year 2014.

China Commercial Credit, Inc. Key Developments

China Commercial Credit, Inc. Announces Executive Changes

On June 12, 2015, Ms. Xiaofang Shen and Mr. Chunjiang Yu notified China Commercial Credit, Inc. of their resignation from the board of directors of the company, effective immediately. Effective June 12, 2015, the board appointed Ms. Qinyan Yang and Mr. Bo Xu to fill the vacancies created by the resignations of Ms. Shen and Mr. Yu. In addition to serving on the board, Ms. Yang and Mr. Xu will each serve on the board's audit, nominating and corporate governance, and compensation committees. Ms. Yang will serve as the chair of the compensation committee and Mr. Xu will serve as the chair of the nominating and corporate governance committee. Ms. Yang, age 42, is the vice president and founder of Beijing Ruibo Culture and Entertainment, which was founded in May of 2015. Mr. Xu, age 52, has served as the chief executive officer of Dishen International Travel Agency since May 2014. From 2008 until present, Mr. Xu has also served as a director at Shanghai Jun Qian Legal Consulting Firm. Mr. Long Yi, age 37, the company's Chief Financial Officer and Secretary, was appointed to serve as a director on the board effective June 12, 2015. Mr. Yi has served as the company's Chief Financial Officer and Secretary since January 1, 2013. During that time, Mr. Yi also served as the company's acting Chief Executive Officer from August 21, 2014 until December 29, 2014. Prior to joining the company, Mr. Yi was the senior financial manager at Sutor Technology Group Ltd.

China Commercial Credit, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

China Commercial Credit, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, total interest and fee income was USD 1,281,469 against USD 2,898,922 a year ago. Net interest income was USD 1,113,760 against USD 2,653,732 a year ago. Net revenue was USD 61,302 against USD 2,054,009 a year ago. Loss before income taxes USD 1,022,270 against income before income taxes USD 1,278,358 a year ago. Net loss was USD 1,157,031 against net income of USD 1,093,633 a year ago. Basic and diluted loss per share was USD 0.094 against USD 0.105 a year ago.

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

On 05/18/2015, China Commercial Credit, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

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