Diversified Financial Services
Company Overview of China Commercial Credit, Inc.
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. 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.
890 Yongkang Road
Founded in 2008
Key Executives for China Commercial Credit, Inc.
Chief Financial Officer and Company Secretary
Total Annual Compensation: $56.9K
Compensation as of Fiscal Year 2015.
China Commercial Credit, Inc. Key Developments
China Commercial Credit, Inc. Announces Board Changes
Dec 23 16
On December 19, 2016, Mr. John Levy notified China Commercial Credit, Inc. of his resignation from the board of directors of the Company effective immediately. On the same day, the Board appointed Mr. Teck Chuan Yeo to serve as the chairman of the Board’s Audit Committees, effective immediately and Mr. Yeo will no longer serve as the chairman of the Board’s Nominating and Corporate Governance Committee. On December 22, 2016, the Board appointed Ms. Boling Liu to fill the vacancy created by the resignation of Mr. John Levy, effective immediately. In addition to serving on the Board, Ms. Liu will serve on the Board’s Audit, Nominating and Corporate Governance and Compensation committees. Ms. Liu will also serve as the chairwoman of the Board’s Nominating and Corporate Governance Committee. Ms. Liu, age 30, has been the vice president of Shenzhen Tianhe E-Commerce Limited Company since August 2010. From January 2010 to August 2010, Ms. Liu served as a manager of the sales department of Shenzhen Guantian Aeronautics. From April 2005 to January 2010, Ms. Liu served as the manager of customer service of Shanxi Datang Air Service Limited Company.
China Commercial Credit, Inc., Annual General Meeting, Dec 30, 2016
Dec 1 16
China Commercial Credit, Inc., Annual General Meeting, Dec 30, 2016, at 09:30 Eastern Standard Time. Location: No. 890, Yongkang Road Wujiang District, Suzhou Jiangsu Province China Agenda: To elect Mingjie Zhao, John Levy, Weiliang Jie and Teck Chuan Yeo to serve on the company's Board of Directors for a term of one year; to ratify the selection of Marcum Bernstein & Pinchuk LLP as the company's independent registered public accounting firm for year ending December 31, 2016; and to transact such other business as may properly come before the Meeting or any adjournment or postponement thereof.
China Commercial Credit Receives Non-Compliance Notice From Nasdaq
Nov 9 16
On November 4, 2016, China Commercial Credit, Inc. (Company) received a written notice from The Nasdaq Stock Market (Nasdaq) stating that the Company is no longer in compliance with the minimum Market Value of Listed Securities requirement for continued listing on the Nasdaq Capital Market. Nasdaq 5550(b)(2) requires listed companies to maintain a minimum Market Value of Listed Securities of at least $35 million. Further, as of November 4, 2016, the Company did not meet the alternative compliance standards under Nasdaq Listing Rule 5550(b) of (i) net income from continuing operations of $500,000 in its last completed fiscal year or in two of the last three fiscal years, or (ii) stockholders' equity of at least $2.5 million. The notification letter has no immediate effect on the Company’s listing on the Nasdaq Capital Market. Nasdaq provided the Company a compliance period of 180 calendar days, or until May 3, 2017, to regain compliance. The Company intends to promptly evaluate options available to regain compliance and to timely submit a plan to regain compliance with Nasdaq’s minimum stockholders’ equity standard. There can be no assurance that the Company’s plan will be accepted or that, if it is, the Company will be able to regain compliance with the applicable Nasdaq listing requirements.
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