Consumer Capital Group, Inc. (OTCMKTS:CCGN) Files An 8-K Completion of Acquisition or Disposition of Assets
Item2.01Completion of Acquisition or Disposition of Assets.
On December 6, 2016, we filed a Current Report on Form 8-K
reporting that on December 1, 2016, we closed our acquisition of
Yin Hang Financial Information Service (Shanghai) Co., Ltd, a
company formed under the laws of Peoples Republic of China (Yin
Hang).
This Form 8-K/A amends the Form 8-K that was filed on December 6,
2016 to include Yin Hang’s audited consolidated financial
statements for the fiscal years ended December31, 2016 and 2015
and the unaudited pro forma consolidated financial information as
of September 30, 2016 related to our Yin Hang acquisition
required by Items 9.01(a) and 9.01(b) of Form 8-K.
On January 6, 2017, we filed another Current Report on Form 8-K
reporting that on December 28, 2016, we closed our disposition of
Shanghai Zhonghui Financial Information Services Corp.
(Zhonghui), a company formed under the laws of Peoples Republic
of China (Zhonghui).
This Form 8-K/A further amends the Form 8-K that was filed on
December 28, 2016 to include the unaudited pro forma consolidated
financial information as of September 30, 2016 related to our
Zhonghui dispostion required by Items 9.01(a) and 9.01(b) of Form
8-K.
Item9.01Financial Statements and Exhibits.
| (a) | Financial Statements of Business Acquired. |
The Yin Hang audited consolidated financial statements for the
fiscal years ended December31, 2016 and 2015 are attached as
Exhibit99.1 to this Form 8-K/A and incorporated by reference into
this Form 8-K/A.
| (b) | Pro Forma Financial Information. |
| (i) |
The following unaudited pro forma consolidated financial information related to the Yin Hang acquisition is attached as Exhibit 99.2 to this Form 8-K/A and incorporated by reference into this Form 8-K/A: |
Unaudited Pro Forma Consolidated Financial Statements for the
nine months ended September 30, 2016
| (ii) |
The following unaudited pro forma consolidated financial information related to the Zhonghui disposition is attached as Exhibit 99.3 to this Form 8-K/A and incorporated by reference into this Form 8-K/A: |
Unaudited Pro Forma Consolidated Financial Statements for the
nine months ended September 30, 2016
| (c) |
The following exhibits are being filed as part of this Current Report on Form 8-K/A. |
| Exhibit Number | Description | |
| 99.1 |
Yin Hang Audited Consolidated Financial Statements for the Fiscal Years Ended December 31, 2016 and 2015. |
|
| 99.2 |
Unaudited Pro Forma Consolidated Financial Information relating to Yin Hang acquisition |
|
| 99.3 |
Unaudited Pro Forma Consolidated Financial Information relating to Zhonghui disposition |
About Consumer Capital Group, Inc. (OTCMKTS:CCGN)
Consumer Capital Group Inc. is a holding company. The Company operates the Internet finance business through its subsidiaries, America Arki (Fuxin) Network Management Co. Ltd. (Arki Fuxin), America Arki Network Service Beijing Co., Ltd. (Arki Network Service) and Arki (Beijing) E-Commerce Technology Corp. (Arki Beijing), through respective contractual arrangements among these parties. Arki Network Service, through America Arki (Tianjin) Capital Management Partnership (Arki Tianjin), engages in wealth management business. Arki Tianjin operates its business on its crowdfunding platform Bangnitou, which translates to Help You Invest in English and attracts capital from investors to invest in fixed income opportunities. Arki Network Service operates its peer-to-peer lending business through Shanghai Zhong Hui Financial Information Service Corp. (Zhong Hui), which is an online consumer finance marketplace in the People’s Republic of China (PRC) connecting investors and corporate borrowers. Consumer Capital Group, Inc. (OTCMKTS:CCGN) Recent Trading Information
Consumer Capital Group, Inc. (OTCMKTS:CCGN) closed its last trading session down -0.60 at 3.40 with 4,098 shares trading hands.
