Consumer Capital Group, Inc. (TYO:8316) Files An 8-K Entry into a Material Definitive Agreement

Item1.01 Entry into a Definitive Material Agreement.

On December 28, 2016, upon approval by the majority shareholder
and Board of Directors of Consumer Capital Group, Inc. (the
Company) and its variable interest entity of America Arki Network
Service Beijing Co., Ltd (America Arki), America Arki entered
into certain business sale agreement (the Agreement) with Yanbian
YaoTian Gas Group Co., Ltd (the Purchaser), a company organized
under the laws of the Peoples Republic of China (the PRC) whereby
the America Arki sold all of its interest in Shanghai Zhong Hui
Financial Information Services Corp. (Zhonghui), a company also
organized under the laws of the PRC for no consideration (the
Sale).

Upon completion of the Sale, America Arki operates its business
solely through its subsidiaries i) America Arki (Tianjin) Capital
Management Partnership, a limited partnership formed under the
laws of the PRC that plans to engage in the business of asset
management, and ii) Yin Hang Financial Information Service
(Shanghai) Co., Ltd, a company formed under the laws of the PRC
that focuses its business on financial advisory services for
small to medium sized enterprises based in the PRC.

The foregoing description of the Agreement and the transaction
contemplated thereby does not purport to be complete and is
subject to, and qualified in its entirety by reference to, the
full text of the Agreement, English translation of which is
attached as Exhibit 10.1 and is incorporated herein by reference.

Item 1.02 Termination of a Material
Definitive Agreement

On December 28, 2016, Companys variable interest entity, America
Arki, entered into an agreement to sell all of its equity
interest in Shanghai Zhong Hui Financial Information Services
Corp. to Yanbian YaoTian Gas Group Co., Ltd for no
considerations.

Zhonghui engages in peer-to-peer lending business through its
online platform that matches mass retail investors and companies
that need to raise capital through debt or equity financing.

The applicable information in connection with the Sale is set
forth in Item 1.01 of this Current Report on Form 8-K and is
incorporated herein by reference.

Item 2.01 Completion of Acquisition or Disposition of
Assets.

The applicable information in connection with the Sale is set
forth in Item 1.01 of this Current Report on Form 8-K and is
incorporated herein by reference.

Item 7.01 Regulation FD Disclosure

As of the date of the Sale, Company believed that Zhonghui
carried a negative net asset. As a result, Company intends to
recognize the gain from the Sale in its consolidated financial
statements for the fiscal year ended December 31, 2016. No
distribution has been declared or made to the shareholders by the
Board as of the date of this current report.

Item 9.01 Financial Statements and Exhibits

(b)Pro Forma Financial Information.

The pro forma financial statements required by Item9.01(b) of
this Current Report on Form 8-K are not being filed herewith. The
pro forma financial information required by Item9.01(b) of this
Current Report on Form 8-K, with respect to the Sale described in
Item1.01 herein will be filed by amendment.

(d)Exhibits.

* To be filed by amendment

About Consumer Capital Group, Inc. (TYO:8316)

Sumitomo Mitsui Financial Group, Inc. is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services. The Company offers commercial banking services to a range of customers, including corporations, mid-sized companies, small-sized companies, individuals, governments and governmental entities mainly through the Bank. The Bank has equity interest in Sumitomo Mitsui Finance and Leasing Company, Limited, which provides a range of leasing services, including equipment lease, operating lease, leveraged lease and aircraft operating lease. The Bank’s subsidiary, SMBC Nikko Securities Inc., offers a range of financial products, and investment consultation and administrative services.

Consumer Capital Group, Inc. (TYO:8316) Recent Trading Information

Consumer Capital Group, Inc. (TYO:8316) closed its last trading session down -28.00 at 4,545.00 with 5,475,100 shares trading hands.