Qiao Xing Mobile Communication Co., Ltd Qiao Xing Mobile's Subsidiary, CECT, Launches Innovative Wrist Watch Mobile Phone Qiao Xing Mobile Communication Co (“Qiao Xing Mobile” or the “Company”) (NYSE: QXM), one of China’s leading domestic manufacturers of mobile handsets which operates its business primarily through its subsidiary, CEC Telecom Co., Ltd. (“CECT”), today announced the launch of one of the Company’s most innovative products to date, the W100 Wrist Watch phone. The W100 has the following features: 65k TFT-LCD touch screen- The touch screen makes the phone extremely easy to see and use. 1GB T-flash extendable memory, multi-media & connectivity functions- The handset comes with 1GB of flash memory that provides ample flexibility for data storage, and offers enhanced multi-media and connectivity features, including MP3, Mpeg4, instant messaging, Blue tooth, and a surround sound Bluetooth headset.
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FM radio- The W100 offers a built-in FM radio; Camera- The phone is equipped with a 1.3 megapixel camera Colorful design- The W100 comes in 7 colors that will allow it to fit the tastes of a wide variety of users. The phone will appear in stores in mid-September. The Company plans to introduce TV infomercials to help market and sell the product. According to Mr. Wu Zhi Yang, Chairman of QXM, “We are extremely excited by this product, which represents the culmination of many months of hard work and the close and successful collaboration among our marketing, sales and product development teams. Given the truly unique features of this phone, we think it will not only see favorable reception in the market, but we also believe that it could help enhance the overall recognition of our brand in China.”.
Qiao Xing Mobile's Subsidiary, CECT, and Bei Dou (www.139shop.com) Establish New Strategic Partnership with a RMB 1 Billion Agreement Wednesday August 15 Qiao Xing Mobile Communication ('Qiao Xing Mobile' or the 'Company'), one of China's leading domestic manufacturers of mobile handsets operating its business primarily through its subsidiary, CEC Telecom Co., Ltd. Napa Auto Parts Repair Manual. ('CECT'), today announced it has signed a RMB 1 billion agreement with Bei Dou Communication & Equipment Co Ltd. ('Bei Dou'), the largest mobile handset Internet sales platform in China to establish a new e-commerce and promotional outlet for selling the Company's handsets.
According to the agreement, both companies have agreed to deepen strategic ties, especially related to Internet sales, retail channel development, as well as other value-added services. The new alliance between the two companies marks a significant breakthrough in the handset industry in China as it adds an additional marketing and promotional component to the traditional distribution platform and TV infomercial sales network. Through this agreement, CECT will able to deal with retail outlets as well as customers directly via Bei Dou's handset e-commerce platform. CECT will provide a set of training programs to retailers, including product education, pricing management, customer targeting and other selling techniques, as well as technical support. Wu ZhiYang, Chairman of Qiao Xing Mobile, commented, 'E-commerce channels are some of the most efficient outlets in term of cost effectiveness and operating efficiency, especially for the sale of mobile handsets. We believe this agreement will allow us to enhance our competitiveness by lowering our distribution costs and overall operating expenses. We believe it will benefit customers as well since they will be able to more easily obtain information about our products, and then make fully educated purchasing decisions.
Our differentiated handsets often have fairly unique features which make this a perfect outlet for us and we are quite optimistic about the potential.' Das 1.Quartal war ja bereits sehr erfreulich, aber es geht noch besser: Second Quarter 2007 Highlights(1): -- Revenue increased to RMB844 million (US$111 million), representing a 33.3% increase from the corresponding period of 2006. -- Handset shipments in the second quarter of 2007 grew to approximately 1,055,000 units, representing an increase of 114.2% year-over-year and 40.1% sequentially. -- Gross margin in the second quarter of 2007 was 33.5%, compared to 18.2% in the second quarter of 2006 and 23.2% in the previous quarter. -- Net income before extraordinary items in the second quarter of 2007 increased to RMB169 million (US$22.2 million), representing a 139.5% increase from the corresponding period of 2006 and a 61.1% increase from the previous quarter. -- Basic and diluted earnings per share ('EPS') before extraordinary items for the second quarter of 2007 were both RMB3.52 (US$0.46). Qiao Xing Mobile Communication ('Qiao Xing Mobile' or 'the Company') announced its unaudited preliminary(2) results for the quarter ended June 30, 2007.