This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SGOCO Group, Ltd. Announces: (1) Annual Shareholders Meeting; (2) Update On Growth Initiatives; (3) New Staff Appointments

BEIJING, Dec. 24, 2012 /PRNewswire/ -- SGOCO Group, Ltd. (Nasdaq: SGOC), ("SGOCO" or the "Company") a company focused on product design, distribution and brand development in the Chinese flat-panel display market, today announced:

1.   Annual Shareholders Meeting

The Company's annual shareholders meeting will be held on December 28, 2012, at 9:00 a.m. Beijing Time. The meeting will take place at the Company's Beijing office, located at Suite 1817, Beijing Silver Tower, Chaoyang District, Beijing, China.

The matters to be voted on at the meeting are set forth in the Company's Proxy Statement filed with the U.S. Securities and Exchange Commission on November 26, 2012. Shareholders of record on November 16, 2012 will be eligible to vote at this meeting.



2.   Update on Growth Initiatives

The Company is transitioning to a "light-asset" business model. The Company is implementing several strategic initiatives that are expected to drive and contribute to its revenue and profit growth over the next 12-24 months:

1).  Diversify Product Portfolio: SGOCO is expanding its existing flat-panel display product lines to include e-boards and smart phones. The Company is also in the stage of researching application specific products (ASPs) and integrated solution products.

2).  Broaden Customer Base: SGOCO continues to expand into the US flat-panel display market through its US subsidiary, SGO Corp., in addition to its core Chinese domestic customer base.

3).  Increase Brand Portfolio: SGOCO intends to further enhance its brand portfolio of five flat-panel display brands by signing licensing agreements with new brand owners.

4).  Resource Optimization: SGOCO plans to continue its efforts to reduce costs and increase resource optimization to better serve customers and improve overall efficiency in the areas of management, sales, brand and product development. The change in the Company's business model from a "heavy asset" model to a "light asset" model is expected to shift the sales and distribution model from its current distributor-focus to a more diversified model including direct sales to the industry end-customers with its tailor-made ASP products. It is also anticipated the Company will change its sales and distribution team to meet its customers' evolving needs.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs