BB's Stock Haven

[veejer999]

CTGLF now one MM left till .11 (don't miss this one traders!!)=>

China Technology Global Corporation Announces Fiscal Year End Results
Tuesday November 22, 7:00 am ET


HONG KONG, Nov. 22 /Xinhua-PRNewswire-FirstCall/ -- China Technology Global Corporation (OTC Bulletin Board: CTGLF - News), 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.'

He added: 'This is the first time for many years where our company has reported a net profit of operations and as a result of the DiChain Software merger, our balance sheet has also grown much stronger, I believe we are now well positioned in the market and convinced that our company will bring satisfactory returns to shareholders in coming future.'

About China Technology Global Corporation

China Technology Global Corporation ( www.ChinaTechGlobal.com ), headquartered in Hong Kong, with operational offices located in Shenzhen, China and six other major cities throughout China, designs, manufactures and sells customizable software and hardware systems, which integrate GIS (Geographic Information System), GPS (Global Positioning System), as well as Wireless and Web technologies into a proprietary application platform. The Company's subsidiary, DiChain Software, was recognized as one of the leading IT solution providers in logistics and supply chain management in China in 2002 and 2003 by International Data Corporation, a world leading IT consulting firm, and named the 'Best Value Added Reseller' by its strategic industry partner IBM Corporation in 2003. DiChain Software has strategic alliances with some of the world's largest companies, including IBM, GE Oracle, Hewlett Packard, ILOG, DELL, Motorola and China Mobile.

The Company's leading industry position is further leveraged by its relationship to China Merchants DiChain Holdings Limited, the Company's major shareholder who is a reputable member of China Merchants Group, one of the top 50 national enterprises in China with over $30 billion assets under its management.

In the future, the Company aims to become one of the leading Chinese technology companies by investing its resources into computer, wireless and internet related information technologies. Contact:

China Technology Global Corporation
Sifie Fu, Investor Relations Manager
Tel: [phone]
Email: [e-mail]
Investor Relations Division
Email: [e-mail]
Website: www.ChinaTechGlobal.com




--------------------------------------------------------------------------------
Source: China Technology Global Corporation

http://finance.yahoo.com/q/bc?s=CTGLF.OB&t=1y