The Dragon Capital Group Corporation is a leading holding company of emerging high-tech companies in China. While business has been improving at Dragon, the young company may be on the verge of even more success due to its subsidiary, Shanghai Yastand Information Technology Company.
Shanghai Yastand Information Technology Company has received a major award for technology achievement from the Shanghai Municipal Government for developing a city gas pipeline risk assessment system. To go along with this new development, Shanghai Yastand has renewed its agreement with Shanghai North Gas Company, Limited to fully implement the pipeline risk assessment system which monitors Shanghai North Gas’s 5,280-kilometer underground gas pipelines in north metropolitan areas of Shanghai.
One of the unique aspects of the new risk monitoring system is that it will allow Shanghai North Gas Company to monitor any potential breakdown in the underground gas pipelines by detecting gas leakages without the need for additional expenses and works. The new system will provide tremendous economic and environmental benefits by detecting early stage gas leaks enabling quick repair responses to significantly reduce gas losses. Shanghai Yastand developed this system in 2005 and obtained copyrights from National Copyright Bureau of China in 2006.
When asked about the impact on Dragon, Company Chairman and CEO Lawrence Wang was quoted as saying, “We are very excited about the potential of this technology which we intend to market to numerous metropolitan areas in China. We believe there is a vast untapped market for this technology and we intend to aggressively pursue this opportunity. We intend to actively market our system and technology in over 2,000 metropolitan areas in China in the next few years which could have a substantial positive impact on our company’s operating results should we prove to be successful.”