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04 May 2007, 10:28 AM EDT China 3C Group Signs with Galanz and HPC to Sell New Products
58 minutes ago - PR Newswire
China 3C Group (OTC Bulletin Board: CHCG), a major retailer and distributor of consumer and business products, announced today that its subsidiary Hangzhou Sanhe Electronic Technology has signed separate agreements with Galanz Group, one of the largest electronics manufacturer in the world, and Huipu Electronic Co., Ltd. (HPC), a leading manufacturer of LCD and plasma TV sets, as well as LCD and CRT computer monitors.

Under the terms of the agreements, Hangzhou Sanhe will be an authorized retailer and distributor of Galanz and HPC products in Eastern China. The agreements are expected to provide China 3C Group with annual revenues of approximately $4 million in 2007.

Zhenggang Wang, CEO of China 3C Group, said, "After our successful cooperation with TV manufacturers like TCL and Eflag, our agreement with HPC will further increase our share in the LCD TV market. Through our cooperation with Galanz, our microwaves and air conditioner sales will be significantly increased. These new agreements will further strengthen our leadership in the Eastern China market."