Consumer Capital Group, Inc (OTCPK:CCGN) is seeking acquisitions. Consumer Capital Group, said, “We may also use a portion of these proceeds for the acquisition of, or investment in, technologies, solutions or businesses that complement our business, although we have no present commitments or agreements to enter into any acquisitions or investments.”
Consumer Capital Group Inc. is a holding company. The Company operates the Internet finance business through its subsidiaries, America Arki (Fuxin) Network Management Co. Ltd. (Arki Fuxin), America Arki Network Service Beijing Co., Ltd. (Arki Network Service) and Arki (Beijing) E-Commerce Technology Corp. (Arki Beijing), through respective contractual arrangements among these parties. Arki Network Service, through America Arki (Tianjin) Capital Management Partnership (Arki Tianjin), engages in wealth management business. Arki Tianjin operates its business on its crowdfunding platform Bangnitou, which translates to Help You Invest in English and attracts capital from investors to invest in fixed income opportunities. Arki Network Service operates its peer-to-peer lending business through Shanghai Zhong Hui Financial Information Service Corp. (Zhong Hui), which is an online consumer finance marketplace in the People's Republic of China (PRC) connecting investors and corporate borrowers.