8-27-13 9:00 AM EDT | Email Article

The project is expected to cost the government approximately $3 million and last through 2015

SHANGHAI, China, August 27, 2013 /PRNewswire/ --

Dragon Capital Group Corp. (OTC: DRGV), a leading holding company of emerging high-tech companies in China, announced today that its Shanghai Yazheng Information Technology Company ("Yazheng") subsidiary has been selected by the Chinese Central Government as one of the participants in a national science and technology research project focusing on the application of safe and large-scale programmable logic controllers (PLC's). The project is expected to begin in the fourth quarter of 2013 and last through 2015.  The total estimated R&D cost of the project for the government is approximately 20 million RMB ($3 million U.S.).

As China continues to accelerate the process of industrialization and automation, more and more companies are attempting to expand the scale of production.  Productions facilities with multiple parameters, high risk and full automation features are being deployed across a wide array of industries including energy, transportation, manufacturing, aerospace and chemical production.  As a result, market demand for high-end safety control products is growing rapidly throughout China.   The current overall PLC market is estimated to be approximately 6-7 million RMB annually with the market for  large-scale PLC's including large industrial plant control systems, safety interlock systems, safety instrumented systems and high-end security control systems representing about 30% or 2 billion RMB.  This market, which is expected to experience a better than 10% annual growth rate, has been mainly dominated by large foreign corporations  Projects like this are being sponsored by the government to foster domestic development of  high-end control systems  to enable China based companies to capture a much larger percentage  of this fast growing market.  The participants in this project will be able to utilize technologies developed through this government assistance to design practical applications for future commercialization.

Mr. Lawrence Wang, Chairman and CEO of Dragon Capital Group, stated, "We are very pleased to have been selected by the Central Government for this project as a result of our automation work in the utility industry.  With the government essentially subsidizing the R&D efforts of the participants, we have the unique opportunity to enter large scale markets in the future.  This will also help us add further functionality to our current monitoring systems as we continue to deploy and gain market share.  We will continue to support Yazheng in their efforts to build this important business segment for the future growth of Dragon Capital."

About Dragon Capital Group Corporation

Dragon Capital Group is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. DRGV functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access to capital, merger & acquisition, business valuation, and revenue growth strategies. DRGV has developed a portfolio of high-tech companies operating in China. For more information about DRGV, please visit http://www.dragoncapital.us

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the word expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance.

Contact:

Richard Galterio
U.S. Representative
Telephone: (954) 363-7333
Facsimile: (954) 726-2022
Email: info@dragoncapital.us


SOURCE Dragon Capital Group Corp.

Add a Comment

News   More...

Dragon Capital Group Subsidiary Awarded Contract for Central Control System Upgrade at Huinan Waterworks Facilities (2013/8/13)
Shanghai City North Gas Company, Ltd. to Use Dragon Capital Group's Gas Information System for Gas Valve Grouping Project (2013/8/6)
Dragon Capital Group, Inc. Reports Financial Results for the Second Quarter and First Six Months of 2013 Ended June 30, 2013 ()
Orange Selects iGATE to Deliver Large Transformation Programme in Switzerland (2013/12/18)
Amazonica Corp. Announces Commissioning of Large Scale Facility at the Institute of Plasma Physics of the National Science Centre KIPT of the National Academy of Sciences of Ukraine and Development of Prototype (2014/3/3)
NI Technology Research Issues Special Updates: What Do Suppliers TriQuint and Cirrus Logic Tell Us to Expect from Apple's Earnings? Time to Buy Cree and Finisar on the Pullback? (2013/10/25)
NI Technology Research Updates Outlooks for Avago Technologies, Apple, Skyworks Solutions, TriQuint Semiconductor, Cirrus Logic and Qualcomm (2013/12/2)
Lawrence Livermore National Lab and Catholic University of Louvain Partner with FICO Optimization Software for Large-Scale Renewable Energy Research Work (2014/3/24)
Mid-Year Update of Most-Researched Investments in Morningstar Platforms Shows Investors Focused on Large-Cap Equities, Institutions Moving Toward International Exposure (2013/8/6)
Accenture Delivers Large-Scale ERP System for Salt River Project Focused on Finance and Supply Chain Transformation (2013/11/19)
Securities related to this article
Dragon Capital Group Corporation View drgv Stock Quote
 
Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar


Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - - Dragon Capital Group Subsidiary Selected to Participate in National Science and Technology Research Project Focusing on Large Scale Programmable Logic Controllers
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: Dragon Capital Group Subsidiary Awarded Contract for Central Control System Upgrade at Huinan Waterworks Facilities  |  Next: Dragon Capital Group, Inc. Reports Financial Results for the Second Quarter and First Six Months of 2013 Ended June 30, 2013