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Yosen Group Signed Supplier Agreement with New York Linden Hotel
YIWU, China, May 30, 2014 /PRNewswire/-- Yosen Group, Inc. (stock symbol:YOSN) ("Yosen", or "the Company") today announced that Yosen, through its wholly owned subsidiary Yosen Trading Inc., has signed a Supplier Agreement (the "Agreement") with New York based Linden Hotel Inc ("Linden Hotel"). Pursuant to this Agreement, Yosen will provide Linden Hotel with the construction and renovation materials needed as well as the room supplies over the next 18 months.
Linden Hotel, located at the intersection of Linden Place and 31st Road in Queens, New York, has received the requisite work permits from the Department of Buildings and started construction work on May 26th, 2014.
Yosen's CEO Mr. Zhenggang Wang commented, "Thanks to Yosen's international wholesale business and our cost advantage due to the base in Yiwu Commodity City, we were able to win the orders from Linden Hotel. This Agreement will contribute significant revenues to Yosen Group, and we anticipate the value to exceed the aggregated order amount since Yosen Trading's inception. This further proves Yosen's potential in cross border business and our New York team's market development capabilities. Yosen is now preparing an online e-commerce infrastructure, which will fully utilize and integrate our team's and partners' resources and expansion abilities so as to build a competitive cross-border O2O platform. We will gradually update our shareholders over the next few months."
About Yosen Group, Inc.
Yosen Group, Inc. ("Yosen Group", or "Yosen") was founded in Yiwu City, Zhejiang Province, in 1997. Yosen is a leading retailer of 3C merchandise (Computers, Communication products and Consumer electronics) in Eastern China. The Company partners with China's three dominant telecommunication operators including China Telecom, China Mobile, and China Unicom, and operates 3C specialty stores within mass merchandisers at prime locations. Yosen distributes the best-selling products of Apple, Samsung, among others. Yosen Group, though its corporate headquarters in China and its wholly-owned U.S. subsidiary, is committed to building cross-border sales channels for bringing the world's best consumer products to China and, simultaneously, introducing China's most competitive products to the overseas markets. Yosen Group is China Commodity City Group's exclusive partner in the Greater New York area. The Company operates under the "Yosen" and "Yong Xin" brand names.
For more information, visithttp://www.yosn.com/.
Safe Harbor Statement
Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
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SOURCE Yosen Group, Inc.
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