Cogo Group today announced that its shareholders approved a proposal by the Cogo Board of Directors to change the company's domicile to the Cayman Islands. This domicile change will provide the company with the option to dual-list its shares of common stock on the Hong Kong exchange while also continuing to trade on Nasdaq, and at the same time, maintain the existing levels of regulatory scrutiny and financial transparency. The Company expects to complete the domicile process to the Cayman Islands within a few weeks.

Management provides Q2 2011 guidance of $111-$113 million in revenue and estimated Non-GAAP EPS Diluted of $0.22.

The board of directors of Cogo Group, Inc., a Maryland corporation, has unanimously approved the reincorporation of the Company from the State of Maryland to the Cayman Islands, through a redomestication merger with and into its indirect wholly owned subsidiary, Cogo Group Cayman, Inc., a company formed under the laws of the Cayman Islands. In the redomestication merger, Cogo Cayman will issue its securities in exchange for our outstanding securities. Following completion of the redomestication, Cogo Cayman will change its name to Cogo Group, Inc. and the Company expects that its shares will continue to trade as shares of Cogo Cayman on the Nasdaq Global Select under the same symbol.