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Dragon Capital Group Reports Financial Results for the Full Year of 2013 Ended December 31, 2013
Dragon Capital Group Reports Financial Results for the Full Year of 2013 Ended December 31, 2013.
About this update from Dragon Capital Group Corp.
[{"type":"text","content":"\n\n\n\nDragon Capital Group Reports Financial Results for the Full Year of 2013 Ended December 31, 2013\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nDragon Capital Group Reports Financial Results for the Full Year of 2013 Ended December 31, 2013\nPR Newswire\nSHANGHAI, April 1, 2014\n\n\n\nSHANGHAI, April 1, 2014 /PRNewswire/ -- Dragon Capital Group Corp. (OTC: DRGV), a holding company of emerging high-tech companies in China, announced today its financial results for the full year of 2013 ended December 31, 2013.\n\nFinancial Highlights\n\nFor the full year of 2013, total revenues were $19.8 million with net income attributable to Dragon Capital Group of $0.1 million compared to total revenues of $20.3 million and net income attributable to Dragon Capital Group of $0.3 million recorded in 2012.  The decrease in net income was mainly a result of increased operating expenses at the Company's Shanghai Yazheng subsidiary.  While overall expenses did increase, gross margins improved to 5.4% in 2013 compared to 5.1% in 2012.   Income from operations totaled $0.3 million in 2013 as compared to $0.5 million in 2012.  For the full year of 2013 Dragon Capital Group recorded net income of $0.1 million or $0.00 per basic and diluted share on 536.3 million weighted average shares outstanding as compared to net income of $0.3 million or $0.00 per basic and diluted share on 492.7 million weighted average shares outstanding in 2012.\n\nBalance Sheet\n\nAt December 31, 2013, total assets were $9.8 million and shareholder equity was $7.5 million with 536.3 million weighted average shares outstanding.  At December 31, 2012, total assets were $9.1 million and shareholder equity was $7.0 million with 492.7 million weighted average shares outstanding. Working capital increased to $8.1 million at December 31, 2013 compared to $7.5 million at December 31, 2012.  \n\nCommenting on the results for the full year of 2013, Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, sta...