China Internet Cafe Holdings Group Inc (CICC)

China Internet Cafe Holdings Group, Inc. operates a chain of 62 internet cafés in Shenzhen, Guangdong, the People's Republic of China that are generally open 24 hours a day, seven days a week. It also sells third party on-line gaming cards, snacks and drinks, over 95% of its revenue comes from selling access time to its computers. The commission for the sale of gaming cards is generally 20% of the value of the cards. Concessions (snacks and drinks) are also sold to customers. It sells internet cafe memberships to its customers. Members purchase prepaid IC cards (a pocket-sized card with embedded integrated circuits that can be used for identification, authentication, data storage and application processing), which include stored value that will be deducted based on time usage of a computer at the internet cafe. The cards are only sold at its cafes. It deducts the amount that reflects the access time used by a customer when the customer's IC card is inserted into the IC card slot on the computer. Its customers are individuals who come into the location to surf the internet and play online games with their friends locally and remotely with individuals around the world. The Company is regulated by the national and local laws of the PRC.