Whether The Initial Application Of Sichuan Youji GEM Is Accepted

Announcement of the China Securities Regulatory Commission, GEM The 38th meeting of the Issuance Review Committee in 2010 was held on June 25, 2010. The initial application of Sichuan Youji Industrial Co., Ltd. was not approved, and the initial application of Hangzhou Shunwang Technology Co., Ltd. was approved.

According to the pre disclosure information, Shunwang Technology is mainly engaged in the design, promotion, online advertising promotion and Internet value-added services related businesses of Internet entertainment platforms. By the end of 2009, its flagship product - "Webmaster" has covered more than 80000 Internet cafes nationwide, with a market share of 47.6%, occupying an absolutely leading market position. From 2007, 2008 to 2009, the main business income of Shunwang Technology was 4.4641 million yuan, 35.3554 million yuan and 83.7207 million yuan respectively, and the gross profit was 155900 yuan, 2.1554 million yuan and 5.3536 million yuan respectively. The sales revenue in the next two years increased by 692.00% and 136.80% year on year, and the net profit increased by 681.96% and 72.97% year on year. As of the end of last year, the cash reserve was 43.03 million yuan.

The total share capital of the Company before the issuance was 45 million shares, and 15 million shares are planned to be issued this time, accounting for 25% of the total share capital after the issuance. The funds raised this time are mainly used for the upgrading and optimization project of "webmaster", PC fresh-keeping box project and user center system project. The implementation of the three raised investment projects has contributed to the extension, expansion and strengthening of the company's main business.