ZHEJIANG PROVINCE, China, Dec. 8 /PRNewswire-FirstCall/ -- China 3C Group (BULLETIN BOARD: CHCG) , a major retailer and distributor of consumer and business products, announced today that it has appointed Kenneth T. Berents to its board of directors. Mr. Berents will serve as chairman of the audit committee.
Mr. Berents is a former managing director and senior portfolio manager for Goldman Sachs Asset Management in Tampa, Fla., which manages $30 billion in growth stocks. Before joining Goldman Sachs, he was the managing director and director of equity research for First Union Securities, now Wachovia Securities, from 1993 to 2000. From 1989 to 1993, he was vice president and media analyst for Alex, Brown & Sons. He was a media analyst for Legg Mason and a supervisory analysis for Alex Brown & Sons. Before Mr. Berents joined the Wall Street community, he was a reporter for the Bergen Record in New Jersey then the Baltimore Evening Sun. He holds a bachelor's in history from Villanova University and a master's degree in journalism from the University of Missouri-Columbia. He also was an Alfred P. Sloan Fellow in economics at Princeton University. He has appeared on ABC's Nightline, CNN, CNBC and is widely quoted in national and trade publications.
China 3C CEO Zhenggang Wang said, "Ken is an extremely accomplished individual who brings great strength to our board of directors, particularly in his new role as chairman of our audit committee. We are honored to have his guidance as we implement our growth strategy."
About China 3C Group
China 3C Group is a leading retail chain operating over 800 retail outlets in Eastern China. The company specializes in selling 3C products (communication, information technology and digital) in China through its subsidiary Zhejiang Yong Xin Digital Technology Co., Ltd. Among China 3C's primary attributes is its efficient distribution network and rapid logistics system. The company's goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com/.
A profile for investors can be accessed at http://www.hawkassociates.com/chcgprofile.aspx. For investor relations information regarding China 3C, contact Jason Yuan at (201) 963-4226, e-mail:
Forward-looking Statement: We have included and from time to time may make in our public filings, press releases or other public statements, certain statements, including, without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" and similar expressions. You are cautioned not to place undue reliance on these forward-looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control.
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