Dragon Capital Group's Subsidiary Receives Award for Technology Achievement by Shanghai Municipal Government for Development of
03 September 2009 - 2:01PM
PR Newswire (US)
Shanghai Yastand Information Technology Company, Ltd. Developed the
Technology for Shanghai North Gas Company, Limited SHANGHAI, China,
Sept. 3 /PRNewswire-FirstCall/ -- Dragon Capital Group Corp.
(OTC:DRGV), a leading holding company of emerging high-tech
companies in China, announced today that its subsidiary, Shanghai
Yastand Information Technology Company, Limited ("Shanghai
Yastand"), has received an award for technology achievement from
Shanghai Municipal Government for developing a city gas pipeline
risk assessment system. In addition, Shanghai Yastand has renewed
its agreement with Shanghai North Gas Company, Limited to fully
implement the pipeline risk assessment system which monitors
Shanghai North Gas's 5,280-kilometer underground gas pipelines in
north metropolitan areas of Shanghai. The new risk monitoring
system will allow Shanghai North Gas Company to monitor any
potential breakdown in the underground gas pipelines by detecting
gas leakages without the need for additional expenses and works.
The new system will provide tremendous economic and environmental
benefits by detecting early stage gas leaks enabling quick repair
responses to significantly reduce gas losses. Shanghai Yastand
developed this system in 2005 and obtained copyrights from National
Copyright Bureau of China in 2006. Chairman and CEO, Lawrence Wang,
stated, "We are very excited about the potential of this technology
which we intend to market to numerous metropolitan areas in China.
We believe there is a vast untapped market for this technology and
we intend to aggressively pursue this opportunity. We intend to
actively market our system and technology in over 2,000
metropolitan areas in China in the next few years which could have
a substantial positive impact on our company's operating results
should we prove to be successful." About Dragon Capital Group Corp.
Dragon Capital Group Corp (Pink Sheets: DRGV) is doing business in
China through its subsidiaries. Dragon was established to serve as
a conduit between Chinese high-growth companies and Western
investors. DRGV functions as an incubator of high-tech companies in
China, offering support in the critical functions of general
business consulting, formation of joint ventures, access to
capital, merger acquisition, business valuation, and revenue growth
strategies. DRGV has developed a portfolio of high-tech companies
operating in China. For more information about DRGV, please visit
http://www.dragoncapital.us/ Safe Harbor Statement Certain
statements set forth in this press release constitute
"forward-looking statements". Forward-looking statements include,
without limitation, any statement that may predict, forecast,
indicate, or imply future results, performance or achievements, and
may contain the word expressions of similar meaning. Such
statements are not guarantees of future performance and are subject
to risks and uncertainties that could cause the company's actual
results and financial position to differ materially from those
included within the forward-looking statements. Forward-looking
statements involve risks and uncertainties, including those
relating to the Company's ability to grow its business. Actual
results may differ materially from the results predicted and
reported results should not be considered as an indication of
future performance. DATASOURCE: Dragon Capital Group Corp. CONTACT:
Dragon Capital Group, Investor Relations, Gary Liu, (954) 363-7333,
ext. 318
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