December 16, 2017 12:33 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. China Commercial Credit, Inc. 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.1 Zhongying Commercial Plaza

Zhong Ying Road

Wujiang,  215200

China

Founded in 2008

5 Employees

Phone:

86 512 6396 0022

Key Executives for China Commercial Credit, Inc.

Chairman of the Board of Directors, President & CEO
Age: 53
Total Annual Compensation: $50.0K
CFO, Company Secretary & Director
Age: 39
Total Annual Compensation: $50.0K
Compensation as of Fiscal Year 2016.

China Commercial Credit, Inc. Key Developments

Rigrodsky & Long, P.A. Announces Class Action Suit Filed Against China Commercial Credit, Inc

Rigrodsky & Long, P.A. announced that a class action complaint has been filed in the Court of Chancery of the State of Delaware on behalf of holders of China Commercial Credit, Inc. common stock in connection with the proposed acquisition of Sorghum Investment Holdings Limited by China Commercial Credit announced on August 9, 2017. On August 9, 2017, China Commercial Credit entered into a Share Exchange Agreement with Sorghum. Pursuant to the Agreement, the Company has agreed to acquire all of the issued and outstanding equity interests of Sorghum in exchange for 152,586,795 shares of the Company's common stock. Upon completion of the Acquisition, the Company will own 100% of Sorghum and its existing shareholders will retain an ownership interest of approximately 12% of the Company and the selling Sorghum equity holders will own approximately 88% of the Company. Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Acquisition, defendants issued materially incomplete disclosures in a proxy statement filed with the United States Securities and Exchange Commission on August 14, 2017. The Complaint alleges that the Proxy Statement, which recommends that China Commercial Credit stockholders vote in favor of the Acquisition, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Acquisition. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of China Commercial Credit common stock.

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

On 08/14/2017, China Commercial Credit, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

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

On 05/15/2017, China Commercial Credit, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
September 27, 2017
--
Merger/Acquisition
July 12, 2017
Sorghum Investment Holdings Limited
Private Placement
June 21, 2017
--
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