0001213900-11-002342.txt : 20110506 0001213900-11-002342.hdr.sgml : 20110506 20110506141021 ACCESSION NUMBER: 0001213900-11-002342 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110505 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110506 DATE AS OF CHANGE: 20110506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: China Carbon Graphite Group, Inc. CENTRAL INDEX KEY: 0001284450 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] IRS NUMBER: 980550699 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-114564 FILM NUMBER: 11818572 BUSINESS ADDRESS: STREET 1: C/O XINGHE XINGYONG CARBON CO., LTD. STREET 2: 787 XICHENG WAI, CHENGGUANTOWN CITY: XINGHE COUNTY, INNER MONGOLIA, STATE: F4 ZIP: 00000 BUSINESS PHONE: (415) 389-1625 MAIL ADDRESS: STREET 1: C/O XINGHE XINGYONG CARBON CO., LTD. STREET 2: 787 XICHENG WAI, CHENGGUANTOWN CITY: XINGHE COUNTY, INNER MONGOLIA, STATE: F4 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: CHINA CARBON GRAPHITE GROUP, INC. DATE OF NAME CHANGE: 20080213 FORMER COMPANY: FORMER CONFORMED NAME: ACHIEVERS MAGAZINE INC DATE OF NAME CHANGE: 20040322 8-K 1 f8k050511_chinacarbon.htm CURRENT REPORT f8k050511_chinacarbon.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________
 
FORM 8-K
 
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of report (Date of earliest event reported)   May 5, 2011
 
China Carbon Graphite Group, Inc.
(Exact Name of Registrant as Specified in Charter)
 
Nevada
  
333-114564
  
98-0550699
(State or other jurisdiction of incorporation)
  
(Commission file number)
  
(I.R.S. employer
identification no.)
 
 
c/o Xinghe Xingyong Carbon Co., Ltd.
787 Xicheng Wai
Chengguantown
Xinghe County
Inner Mongolia, China
(Address of Principal Executive Offices)
(Zip Code)
 
(+86) 474-7209723
(Registrant’s telephone number, including area code)
 
  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 2.02 Results of Operations and Financial Conditions
 
On May 5, 2011, China Carbon Graphite Group, Inc. issued a press release announcing preliminary financial results for the quarter ended March 31, 2011.  A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.
 
(d)         Exhibits.

99.1      China Carbon Graphite Group, Inc. Press Release, dated May 5, 2011.
 
 
 
 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: May 6, 2011
 
 
CHINA CARBON GRAPHITE GROUP, INC.
     
 
By:
/s/ Donghai Yu
   
Donghai Yu
   
Chief Executive Officer, President and Director
   
(Principal Executive Officer)
 
 
 
 
 
 
 
 EX-99.1 2 f8k050511ex99i_chinacarbon.htm PRESS RELEASE f8k050511ex99i_chinacarbon.htm
Exhibit 99.1
 
 
 
 
China Carbon Graphite Group, Inc. Expects to Report Strong Sales Momentum for the First Quarter of 2011
 
NEW YORK, May 5, 2011 (GLOBE NEWSWIRE) -- China Carbon Graphite Group, Inc. (OTCBB:CHGI) ("China Carbon" or the "Company"), the largest wholesale supplier of fine-grain and high-purity graphite in China and one of the nation's top manufacturers of carbon and graphite products, today announced that the Company anticipates reporting a considerable increase in revenue for the first quarter of 2011 as compared with the same quarter of 2010.

China Carbon’s preliminary, unaudited revenue during the first quarter of 2011 was approximately $11.6 million USD, reflecting an increase of approximately $6.7 million USD or 138%, when compared to revenue of $4.8 million during the first quarter of 2010. This substantial improvement in revenue is due to its doubled capacity and the significant increase in the sales of its high margin products.

Industrial Minerals recently reported that the price range for industry standard large flake high carbon graphite has risen from $2,050-$2,500 per ton to $2,275-$3,000 per ton. In the third and fourth quarters of 2010, China Carbon accurately projected that the per ton graphite price would increase within this range.

Anticipating these price increases, after securing a $27 million USD loans from the Construction Bank of China, China Carbon purchased additional levels of inventory and paid advances to suppliers to lock in the price of its raw materials. This well-timed strategic move has China Carbon expecting improved gross margins for the first quarter of 2011 as well as considerable full year increases.

The notable rise in the commodity prices associated with carbon graphite is being driven in large part by the mounting demand for carbon graphite, which is in turn being driven by increased manufacturing associated with global economic growth. At this time, China Carbon plans to accommodate by expanding its current operations and the Company estimates that the construction of its new baking plant—which is expected to boost its annual production capacity from 30,000 tons to 60,000 tons—will be completed by June 2011 and fully operational by August 2011, subject to potential delays involved in construction, installation or production involved in the development of a new manufacturing facility. The Company is currently running at 100 percent capacity.

China Carbon plans to file its Form 10-Q containing first quarter 2011 results by May 16, 2011.
 
 
 
 

About China Carbon Graphite Group, Inc.

China Carbon Graphite Group, through its affiliate, Xingyong Carbon Co., Ltd., manufactures graphite and carbon based products in China. The company is the largest wholesale supplier of fine-grain and high-purity graphite in China and one of the nation's top overall producers of carbon and graphite products. Fine grain graphite is widely used in smelting for colored metals and rare earth metal smelting as well as the manufacture of molds. High purity graphite is used in metallurgy, mechanical industry, aviation, electronic, atomic energy, chemical industry, food industry and a variety of other fields. In September 2007, the Company was approved and designated by the Ministry of Science & Technology as a "National Hi-tech Enterprise," a distinction which the Company still holds. Of the more than 400 carbon graphite producers in China, China Carbon is the only non-state-owned company to receive this honor. For more information, please visit www.chinacarboninc.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. 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 the risk factors set forth in the Company’s annual report on Form 10-K.

Investor Contact:
Mr. Kevin Fickle, English Speaking
NUWA Group, LLC
Tel: +1-925-330-8315
Email: Kevin@nuwagroup.com
 
Company Contact:
Mr. Kevin Ma, Mandarin Speaking
China Carbon Graphite Group, Inc.
Tel: +1-415-571-3640
Email: qma@nuwagroup.com