EXHIBIT 99.1

                        FULL YEAR 2008 FINANCIAL RESULTS

               - 4Q08 REVENUE INCREASES 23% Y/Y TO $84.9 MILLION -
              - 4Q08 NET INCOME INCREASES 63% Y/Y TO $7.1 MILLION -
              - FY08 REVENUE INCREASES 13% Y/Y TO $310.6 MILLION -
             - FY08 NET INCOME INCREASES 17% Y/Y TO $26.8 MILLION -
                 - FY08 DILUTED EPS INCREASES 16% Y/Y TO $0.51 -

HANGZHOU, China, March 25, 2009 -- China 3C Group ("China 3C" or the "Company")
(OTC: CHCG), a retailer and wholesale distributor of consumer and business
products in China, today announced financial results for the fourth quarter and
full year of 2008.


Net sales for the fourth quarter of 2008 increased 22.9% to $84.9 million
compared to $69.1 million for the same period of the prior year. This 22.9%
sales increase for the fourth quarter was primarily attributable to the rollout
of new consumer electronic products and increased marketing initiatives within
the company's store-in-store locations. The Company's retail business generated
approximately 68% of sales while the wholesale business generated approximately
32% of sales in the fourth quarter.

Among the Company's four major operating subsidiaries, the net combined retail
and wholesale revenue contribution of each subsidiary was as follows:

     -- WangDa (cell phones) fourth quarter 2008 revenue increased over 40.5% to
$28.2 million compared to the prior year period. Fourth quarter gross profit
margin for WangDa was 14.4%.

     -- Joy & Harmony (consumer electronics) fourth quarter 2008 revenue
increased over 27.0% to $22.6 million compared to the prior year period. Fourth
quarter gross profit margin for Joy & Harmony was 14.5%.

    -- SanHe (appliances) fourth quarter 2008 revenue decreased 4.4% to $17.8
million compared to the prior year period. Fourth quarter gross profit margin
for SanHe was 17.8%.

     -- YongXin (communications/office electronic equipment) fourth quarter 2008
revenue increased 29.4% to $16.4 million compared to the prior year period.
Fourth quarter gross profit margin for YongXin was 17.6%.

Gross profit for the fourth quarter of 2008 was $13.4 million compared to $11.2
million in the same period of the prior year. Fourth quarter 2008 gross margin
was 15.7% compared to 16.2% for the same period of the prior year and 15.0% in
the third quarter of 2008. This gross margin rate was within the Company's
previously announced 14.5%-16% forecast guidance range. The year over year
decrease in gross margin was a result of a slightly more promotional sales
environment on certain products within the Company's store-in-store locations.

General and administrative expense for the fourth quarter of 2008 totaled $4.1
million, or approximately 4.8% of net sales, compared to $4.0 million, or
approximately 5.8% of net sales, for the same period of the prior year. The G&A
decrease on a percentage basis was a result of strict cost controls implemented
by the Company.

Income from operations for the fourth quarter of 2008 was $9.3 million, or 10.9%
of net sales, compared to income from operations of $7.2 million for the fourth
quarter of 2007, or 10.4% of net sales.

The Company's tax rate for the 2008 fourth quarter decreased to 24.2% from 38.9%
in the prior year period. In the future, the Company expects a tax rate of
approximately 25%.

Fourth quarter net income was $7.1 million, or $0.14 per diluted share, for the
fourth quarter of 2008 compared to $4.4 million, or $0.08 per diluted share, for
the fourth quarter of 2007.

The Company's cash position increased 29% to $32.2 million compared to $25.0
million at the end of December 31, 2007. The Company does not currently have any
debt. The increase in accounts receivable in 2008 was due to the extension of
payment terms from all the Company's retail partners from 15 days to 30 days.
The collection of debt is based on the terms of legal binding documents. The
company has not changed its policy on reserving for bad debt and has not found
any abnormal increases in bad debt.


Net sales for 2008 increased 13% to $310.6 million, compared to $276.0 million
for 2007. Gross margin decreased 220 basis points to 15.7% compared to 17.9% in
2007. General and administrative expenses for 2008 totaled $14.1 million, or
approximately 4.5% of sales, compared to $13.6 million, or 4.9% of sales, in
2007. Income from operations for 2008 was $34.5 million, as compared to income
from operations of $35.8 million in the prior year. Net income was $26.8 million
for 2008, compared to $22.9 million in 2007. Diluted earnings per share
increased to $0.51 for 2008 compared to $0.44 in 2007.

Mr. Zhenggang Wang, Chairman and Chief Executive Officer, commented, "We are
very pleased to report solid full year and fourth quarter 2008 financial
results, particularly as our fourth quarter results exceeded our preliminary
revenue, net income and diluted EPS results announced in mid-January 2009. We
believe that China 3C Group continues to benefit uniquely from its size and
scale, strong customer and supplier relationships, its product breadth and
selection and its pricing, all of which, in our view, have allowed us to expand
our market position even during these challenging economic times.

At the end of the fourth quarter, we operated 1,014 store-in-stores located in
277 branded retail store locations. Our sizeable presence allows us to negotiate
better terms and prices from our suppliers and that our product breadth helps us
to more broadly penetrate retail locations and meet customer demand. We enjoyed
a monthly per-store revenue increase in 2008 which we attribute to our
introduction of new branded products and our customer-oriented quality service
programs. The retail stores that we operate are located in some of China's best
known consumer electronic retail chains. These chains include Gome, where we
operate 93 store-in-store locations, Suning (92 store-in-stores), Yongle (88
store-in-stores), Lianhua Holdings (87 store-in-stores), Trust-Mart (65
store-in-stores), Tesco (30 store-in-stores), and Carrefour (25
store-in-stores), among others.

We continue to see steady improvement to our balance sheet. We finished the year
with over $32 million in cash. This was an increase from both the prior year and
prior quarter and also takes into account a partial cash payment of
approximately $7.3 million for the acquisition of Jinhua Boafa announced in late
December 2008. We are pleased with the efficiencies of our operations, which are
best demonstrated by our inventory turns, which turned 24 times in 2008. In
addition, we have no debt, were cash flow positive from operations and ended
2008 with a book value per share of $1.66.

We believe that 2009 will be another solid year for China 3C Group. Consumer
demand for our products remains steady and we continue to focus on expanding
profits and minimizing operating expenses within our store-in-store locations.
We also expect to see growth coming from our direct and franchise stores we
expect to open this year. With the establishment of our franchise business, we
believe that we have a great opportunity to increase our sales and
profitability, create additional operating leverage and improve our brand
visibility. We look forward to further establishing China 3C Group as a leading
retailer and distributor of consumer electronic products in the eastern China
region," concluded Wang.


China 3C is a leading wholesale distributor and retailer of 3C merchandise:
computers, communication products and consumer electronics. The company
specializes in wholesale distribution and retail sales of 3C products in Eastern
China, focusing on products that make life more comfortable, convenient and


connected. The company's goal is to become the number one retailer of 3C
products in China. For more information, visit http://www.china3cgroup.com.


Certain statements set forth in this press release constitute "Forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. We have included and from time to time may make in our public filings,
press releases or other public statements, certain forward-looking statements,
including, without limitation, those under "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in Part II, Item 7 of our
Annual Report on Form 10-K. In some cases these statements are identifiable
through the use of words such as "anticipate," "believe," "estimate," "expect,"
"intend," "plan," "project," "target," "can," "could," "may," "should," "will,"
"would" or words or expressions of similar meaning. You are cautioned not to
place undue reliance on these forward- looking statements. In addition, our
management may make forward-looking statements to analysts, investors,
representatives of the media and others. These forward-looking statements are
not historical facts and represent only our beliefs regarding future events,
many of which, by their nature, are inherently uncertain and beyond our control.
There can be no assurance that such forward-looking statements will prove to be
accurate and China 3C Group undertakes no obligation to update any
forward-looking statements or to announce revisions to any of the
forward-looking statements.


     Jason Yuan, Vice President
     China 3C Group
     Email: ir@china3cgroup.com

     Bill Zima
     ICR, Inc.
     Tel: +1-203-682-8200



                         CHINA 3C GROUP AND SUBSIDIARIES
                FOR YEARS ENDED DECEMBER 31, 2008, 2007 AND 2006

2008 2007 2006 ------------- ------------- ------------- Net sales $ 310,644,661 $ 276,026,673 $ 148,218,848 Cost of sales 262,002,877 226,656,242 125,411,758 ------------- ------------- ------------- GROSS PROFIT 48,641,784 49,370,431 22,807,090 Selling, general and administrative expenses 14,132,473 13,614,500 5,544,924 ------------- ------------- ------------- INCOME FROM OPERATIONS 34,509,311 35,755,931 17,262,166 ------------- ------------- ------------- Other Income (Expense) Interest income 146,344 88,413 31,293 Other income 1,149,537 -- -- Other expense (359,682) (74,215) (100,646) Interest expense -- -- (7,565) ------------- ------------- ------------- Total Other Income (Expense) 936,199 14,198 (76,918) ------------- ------------- ------------- INCOME BEFORE INCOME TAXES 35,445,510 35,770,129 17,185,248 Provision for income taxes 8,611,298 12,850,429 5,908,122 ------------- ------------- ------------- NET INCOME $ 26,834,212 $ 22,919,700 $ 11,277,126 ============= ============= ============= NET INCOME PER SHARE: Basic & diluted $ 0.51 $ 0.44 $ 0.24 ============= ============= ============= WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: Basic & diluted 52,696,327 52,671,438 46,179,507 ============= ============= =============
December 31, December 31, 2008 2007 ------------ ------------ ASSETS CURRENT ASSETS Cash and cash equivalents $ 32,157,831 $ 24,952,614 Accounts receivable, net 23,724,587 8,077,533 Inventories 12,716,631 6,725,371 Advance to supplier 2,491,518 2,572,285 Prepaid expenses 87,773 382,769 ------------ ------------ Total Current Assets 71,178,340 42,710,572 Property & equipment, net 64,100 89,414 Goodwill 20,348,278 20,348,278 Deposit for acquistion of subsidiary 7,318,501 -- Refundable deposits 32,076 48,541 ------------ ------------ TOTAL ASSETS $ 98,941,295 $ 63,196,805 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 9,162,606 $ 3,108,235 Income tax payable 2,140,624 2,684,487 ------------ ------------ Total Current Liabilities 11,303,230 5,792,722 STOCKHOLDERS' EQUITY Common stock, $.001 par value, 100,000,000 shares authorized, 52,696,327 and 52,673,938 issued and outstanding as of December 31, 2008 and December 31, 2007, respectively 52,696 52,674 Additional paid in capital 19,465,754 19,465,776 Subscription receivable (50,000) (50,000) Statutory reserve 11,109,379 7,234,295 Other comprehensive income 5,272,104 1,872,334 Retained earnings 51,788,132 28,829,004 ------------ ------------ Total Stockholders' Equity 87,638,065 57,404,083 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 98,941,295 $ 63,196,805 ============ ============
2008 2007 2006 ------------ ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES Net Income $ 26,834,212 $ 22,919,700 $ 11,277,126 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 36,116 40,714 20,191 Gain on asset disposition (2,161) -- (936) Provision for bad debts 261,515 9,021 82,686 Stock based compensation 336,668 2,113,270 -- Amortization of deferred consulting expense -- -- 387,945 Effect of changes in: Accounts receivables (15,908,569) (73,483) (2,375,209) Inventories (5,991,260) (3,945,865) (487,593) Prepaid expense and other current asset (41,672) (322,710) 85,216 Advance to supplier 80,767 (356,444) (848,848) Refundable Deposits 16,465 (41,974) (5,929) Accounts payable and accrued expenses 6,054,371 1,143,572 1,356,272 Income tax payable (543,863) 87,970 1,477,695 ------------ ------------ ------------ NET CASH PROVIDED BY OPERATING ACTIVITIES 11,132,589 21,573,771 10,968,616 ------------ ------------ ------------ CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property & equipment (11,088) (64,325) (30,591) Proceeds from asset sales 2,447 -- 1,508 Deposits for acquisition of subsidiary (7,318,501) -- -- ------------ ------------ ------------ NET CASH USED IN INVESTING ACTIVITIES (7,327,142) (64,325) (29,083) ------------ ------------ ------------ CASH FLOWS FROM FINANCING ACTIVITIES Payments of acquisition notes - net of cash acquired -- (4,500,000) (6,550,157) Payments of notes - other -- -- (7,769) ------------ ------------ ------------ NET CASH USED IN FINANCING ACTIVITIES -- (4,500,000) (6,557,926) ------------ ------------ ------------ Effect of exchange rate changes on cash and cash equivalents 3,399,770 1,444,718 167,621 Net change in cash and cash equivalents 7,205,217 18,454,164 4,549,228 CASH AND CASH EQUIVALENTS, BEGINNING BALANCE 24,952,614 6,498,450 1,949,222 ------------ ------------ ------------ CASH AND CASH EQUIVALENTS, ENDING BALANCE $ 32,157,831 $ 24,952,614 $ 6,498,450 ============ ============ ============

The following information was filed by Yosen Group, Inc. (YOSN) on Thursday, March 26, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Yosen Group, Inc.'s financial trajectory

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