-- China Technology Global Corporation (BB:CTGLF), a leading information technology solutions provider for logistics and supply chain management in China and Hong Kong, announced a net profit of $148,000 for the fiscal year ended March 31, 2005, enabling a significant improvement when compared to the net loss of $4,467,000 for the fiscal year ended 2004.
For the twelve months ended March 31, 2005, the Company reported revenues of $2,253,000 with gross profit of $1,555,000, approximately 69 per cent. As of March 31, 2005, the Company had working capital of approximately $29,452,000, as compared to $3,655,000 at March 31, 2004. Cash and cash equivalents at March 31, 2005 were $13,072,000, as compared to $2,059,000 at March 31, 2004. Total assets were $111,799,000 and stockholders' equity amounted to $86,395,000.
Dr. Frank Fan, Chairman and Chief Executive Officer said: "With the successful DiChain Software merger in May 2005, accompanied with the disposal of our discontinued paper business this year, we have successfully repositioned our company's direction -- to be a leading logistics and supply chain management solutions provider in China.''
