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Regarding your QXM shares:Contact
morad.ghodooshim@tri-c.edu.
He is the lead plaintiff in the lawsuit against Rui Lin Wu and QXM.He in the process of getting a receiver appointed to force Wu to pay.if you email him he will send you the up to date info about what is going on.
I still have 18,000 shares, do a google search on "Jeff perry, et al. v. Duoyuan Printing', that jerk Ruilin Wu won't do anything so the lawyers are suing him and if we get anything it will only be pennies on the dollar.
I am still short 13895 shares of QXMCF as of Feb 11, 2013, and I would like to cover them in order to free up the margin used in my account. If anyone is stuck long, I will buy the shares from you for .05 apiece. Please contact me at j.ryan.yates@gmail.com, and we can make a contract and pass it on to our brokers.
QXMCF: SEC Suspension:
http://www.sec.gov/litigation/suspensions/2012/34-67349.pdf
ORDER:
http://www.sec.gov/litigation/suspensions/2012/34-67349-o.pdf
ADMIN Proceeding:
http://www.sec.gov/litigation/admin/2012/34-67350.pdf
NYSE Suspends Trading In Qiao Xing Mobile Communication, Moves To Delist >QXM
Last Update: 5/17/2012 4:03:07 PM
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
May 17, 2012 16:03 ET (20:03 GMT)
<<< $QXM Links! >>> ~ MAC's Quick DD Links without the charts.
PennyStockTweets ~ http://www.pennystocktweets.com/stocks/profile/QXM
OTC Markets Company Info ~ http://www.otcmarkets.com/stock/QXM/company-info
OTC Markets Charts ~ http://www.otcmarkets.com/stock/QXM/chart
OTC Markets Quote ~ http://www.otcmarkets.com/stock/QXM/quote
OTC Markets News ~ http://www.otcmarkets.com/stock/QXM/news
OTC Markets Financials ~ http://www.otcmarkets.com/stock/QXM/financials
OTC Markets Short Sales ~ http://www.otcmarkets.com/stock/QXM/short-sales
OTC Markets Insider Disclosure ~ http://www.otcmarkets.com/stock/QXM/insider-transactions
OTC Markets Research Reports ~ http://www.otcmarkets.com/stock/QXM/research
Google Finance Summary ~ http://www.google.com/finance?q=QXM
Google Finance News ~ http://www.google.com/finance/company_news?q=QXM
Google Finance Option chain ~ http://www.google.com/finance/option_chain?q=QXM
Google Finance Financials ~ http://www.google.com/finance?q=QXM&fstype=ii#
Google Finance Historical prices Daily ~ http://www.google.com/finance/historical?q=QXM
Google Finance Historical prices Weekly ~ http://www.google.com/finance/historical?q=QXM&histperiod=weekly#
Y! < Company >
Y! Profile ~ http://finance.yahoo.com/q/pr?s=QXM+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=QXM+Key+Statistics
Y! Headlines ~ http://finance.yahoo.com/q/h?s=QXM+Headlines
Y! Summary ~ http://finance.yahoo.com/q?s=QXM
Y! Historical Prices ~ http://finance.yahoo.com/q/hp?s=QXM+Historical+Prices
Y! Order Book ~ http://finance.yahoo.com/q/ecn?s=QXM+Order+Book
Y! Message Boards ~ http://messages.finance.yahoo.com/mb/QXM
Y! Market Pulse ~ http://finance.yahoo.com/marketpulse/QXM
Y! Technical Analysis ~ http://finance.yahoo.com/q/ta?s=QXM+Basic+Tech.+Analysis
Y! < Analyst Coverage >
Y! Analyst Opinion ~ http://finance.yahoo.com/q/ao?s=QXM+Analyst+Opinion
Y! Analyst Estimates ~ http://finance.yahoo.com/q/ae?s=QXM+Analyst+Estimates
Y! Research Reports ~ http://finance.yahoo.com/q/rr?s=QXM+Research+Reports
Y! Star Analysts ~ http://finance.yahoo.com/q/sa?s=QXM+Star+Analysts
Y! < Ownership >
Y! Major Holders ~ http://finance.yahoo.com/q/mh?s=QXM+Major+Holders
Y! Insider Transactions ~ http://finance.yahoo.com/q/it?s=QXM+Insider+Transactions
Y! Insider Roster ~ http://finance.yahoo.com/q/ir?s=QXM+Insider+Roster
Y! < Financials >
Y! Income Statement ~ http://finance.yahoo.com/q/is?s=QXM+Income+Statement&annual
Y! Balance Sheet ~ http://finance.yahoo.com/q/bs?s=QXM+Balance+Sheet&annual
Y! Cash Flow ~ http://finance.yahoo.com/q/cf?s=QXM+Cash+Flow&annual
FINVIZ ~ http://finviz.com/quote.ashx?t=QXM&ty=c&ta=0&p=d
Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=QXM
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=QXM
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=QXM
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=QXM
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=QXM
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=QXM&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260
CandlestickChart ~ http://www.candlestickchart.com/cgi/chart.cgi?symbol=QXM&exchange=US
Barchart Quote ~ http://barchart.com/quotes/stocks/QXM?
Barchart Detailed Quote ~ http://barchart.com/detailedquote/stocks/QXM
Barchart Options Quotes ~ http://barchart.com/options/stocks/QXM
Barchart Technical Chart ~ http://barchart.com/charts/stocks/QXM&style=technical
Barchart Interactive Chart ~ http://barchart.com/charts/stocks/QXM&style=interactive
Barchart Technical Analysis ~ http://barchart.com/technicals/stocks/QXM
Barchart Trader's Cheat Sheet ~ http://barchart.com/cheatsheet.php?sym=QXM
Barchart Barchart Opinion ~ http://barchart.com/opinions/stocks/QXM
Barchart Snapshot Opinion ~ http://barchart.com/snapopinion/stocks/QXM
Barchart News Headlines ~ http://barchart.com/news/stocks/QXM
Barchart Profile ~ http://barchart.com/profile//QXM
Barchart Key Statistics ~ http://barchart.com/profile.php?sym=QXM&view=key_statistics
OTC: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=QXM&MarketTicker=OTC&TYP=S
NASDAQ: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=QXM&MarketTicker=NASD&TYP=S
NYSE: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=QXM&MarketTicker=NYSE&Typ=S
Marketwatch Profile ~ http://www.marketwatch.com/investing/stock/QXM/profile
Marketwatch Analyst Estimates ~ http://www.marketwatch.com/investing/stock/QXM/analystestimates
Marketwatch Historical Quotes ~ http://www.marketwatch.com/investing/stock/QXM/historical
Marketwatch Financials ~ http://www.marketwatch.com/investing/stock/QXM/financials
Marketwatch Overview ~ http://www.marketwatch.com/investing/stock/QXM
Marketwatch SEC Filings ~ http://www.marketwatch.com/investing/stock/QXM/secfilings
Marketwatch Picks ~ http://www.marketwatch.com/investing/stock/QXM/picks
Marketwatch Hulbert ~ http://www.marketwatch.com/investing/stock/QXM/hulbert
Marketwatch Insider Actions ~ http://www.marketwatch.com/investing/stock/QXM/insideractions
Marketwatch Options ~ http://www.marketwatch.com/investing/stock/QXM/options
Marketwatch Charts ~ http://www.marketwatch.com/investing/stock/QXM/charts
Marketwatch News ~ http://bigcharts.marketwatch.com/news/symbolsearch/symbolnews.asp?news=markadv&symb=QXM&sid=1795093&framed=False
The Lion ~ http://thelion.com/bin/aio_msg.cgi?cmd=search&msg=&si=1&tw=1&tt=1&rb=1&ih=1&fo=1&iv=1&yf=1&sa=1&fb=1&gg=1&symbol=QXM
Search NYSE ~ http://www.nyse.com/about/listed/lcddata.html?ticker=QXM
StockTA ~ http://www.stockta.com/cgi-bin/analysis.pl?symb=QXM&num1=567&cobrand=&mode=stock
StockHouse ~ http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=QXM
StockHouse Delayed LII ~ http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_page=46140&qm_symbol=QXM
AlphaTrade ~ http://tools.alphatrade.com/index.php?t1=mc_quote_module&t2=mc_quote_module2&t3=historical&template=historical2html&sym=QXM&client_id=2740&a_width=680&a_height=1000&language=english&showVol=1&chtype=8
Reuters ~ http://www.reuters.com/finance/stocks/companyOfficers?symbol=QXM.PK&WTmodLOC=C4-Officers-5
StockWatch ~ http://www.stockwatch.com/Quote/Detail.aspx?symbol=QXM®ion=U
Search NASDAQ ~ http://www.nasdaq.com/symbol/QXM
NASDAQ Divy History ~ http://www.nasdaq.com/symbol/QXM/dividend-history
NASDAQ Short Interest ~ http://www.nasdaq.com/symbol/QXM/short-interest
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/QXM/institutional-holdings
NASDAQ FlashQuotes ~ http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=QXM&selected=QXM
NASDAQ InfoQuotes ~ http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=QXM&selected=QXM
NASDAQ After Hours Quote ~ http://www.nasdaq.com/symbol/QXM/after-hours
NASDAQ Pre-Market Quote ~ http://www.nasdaq.com/symbol/QXM/premarket
NASDAQ Historical Quote ~ http://www.nasdaq.com/symbol/QXM/historical
NASDAQ Option Chain ~ http://www.nasdaq.com/symbol/QXM/option-chain
NASDAQ Company Headlines ~ http://www.nasdaq.com/symbol/QXM/news-headlines
NASDAQ Press Releases ~ http://www.nasdaq.com/symbol/QXM/news-headlines
NASDAQ Sentiment ~ http://www.nasdaq.com/symbol/QXM/sentiment
NASDAQ Analyst Summary ~ http://www.nasdaq.com/symbol/QXM/analyst-research
NASDAQ Guru Analysis~ http://www.nasdaq.com/symbol/QXM/guru-analysis
NASDAQ Stock Report ~ http://www.nasdaq.com/symbol/QXM/stock-report
NASDAQ Competitors ~ http://www.nasdaq.com/symbol/QXM/competitors
NASDAQ Stock Consultant ~ http://www.nasdaq.com/symbol/QXM/stock-consultant
NASDAQ Stock Comparison ~ http://www.nasdaq.com/symbol/QXM/stock-comparison
NASDAQ Call Transcripts ~ http://www.nasdaq.com/symbol/QXM/call-transcripts
NASDAQ Annual Reports ~ http://www.nasdaq.com/aspx/annualreport.aspx?symbol=QXM&selected=QXM
NASDAQ Financials ~ http://www.nasdaq.com/symbol/QXM/financials
NASDAQ Revenue & Earnings Per Share (EPS) ~ http://www.nasdaq.com/symbol/QXM/revenue-eps
NASDAQ SEC Filings ~ http://www.nasdaq.com/symbol/QXM/sec-filings
NASDAQ Ownership Summary ~ http://www.nasdaq.com/symbol/QXM/ownership-summary
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/QXM/institutional-holdings
NASDAQ (SEC Form 4) ~
--------- All Trades ~ http://www.nasdaq.com/symbol/QXM/insider-trades
--------- Buys ~ http://www.nasdaq.com/symbol/QXM/insider-trades/buys
--------- Sells ~ http://www.nasdaq.com/symbol/QXM/insider-trades/sells
The Motley Fool ~ http://caps.fool.com/Ticker/QXM.aspx
The Motley Fool Earnings/Growth ~ http://caps.fool.com/Ticker/QXM/EarningsGrowthRates.aspx?source=itxsittst0000001
The Motley Fool Ratios ~ http://caps.fool.com/Ticker/QXM/Ratios.aspx?source=itxsittst0000001
The Motley Fool Stats ~ http://caps.fool.com/Ticker/QXM/Stats.aspx?source=icasittab0000006
The Motley Fool Historical ~ http://caps.fool.com/Ticker/QXM/Historical.aspx?source=icasittab0000004
The Motley Fool Scorecard ~ http://caps.fool.com/Ticker/QXM/Scorecard.aspx?source=icasittab0000003
The Motley Fool Statements ~ http://caps.fool.com/Ticker/QXM/Statements.aspx?source=icasittab0000009
MSN Money ~ http://investing.money.msn.com/investments/stock-ratings?symbol=QXM
YCharts ~ http://ycharts.com/companies/QXM
YCharts Performance ~ http://ycharts.com/companies/QXM/performance
YCharts Dashboard ~ http://ycharts.com/companies/QXM/dashboard
InsideStocks Opinion ~ http://www.insidestocks.com/texpert.asp?sym=QXM&code=XDAILY
InsideStocks Profile ~ http://www.insidestocks.com/profile.asp?sym=QXM&code=XDAILY
InsideStocks Quote ~ http://www.insidestocks.com/quote.asp?sym=QXM&code=XDAILY
InsideStocks Projection ~ http://charts3.barchart.com/procal.asp?sym=QXM
Zacks Quote ~ http://www.zacks.com/stock/quote/QXM
Zacks Estimates ~ http://www.zacks.com/research/report.php?type=estimates&t=QXM
Zacks Company Reports ~ http://www.zacks.com/research/report.php?type=report&t=QXM
Knobias ~ http://knobias.10kwizard.com/files.php?sym=QXM
StockScores ~ http://www.stockscores.com/quickreport.asp?ticker=QXM
Trade-Ideas ~ http://www.trade-ideas.com/StockInfo/QXM/HOT_TOPIC.html
Morningstar ~ http://performance.morningstar.com/stock/performance-return.action?region=USA&t=QXM&culture=en-US
Morningstar Shareholders ~ http://investors.morningstar.com/ownership/shareholders-overview.html?t=QXM®ion=USA&culture=en-us
Morningstar Transcripts~ http://www.morningstar.com/earnings/NoTranscript.aspx?t=QXM®ion=USA
Morningstar Key Ratios ~ http://financials.morningstar.com/ratios/r.html?t=QXM®ion=USA&culture=en-US
Morningstar Executive Compensation ~ http://insiders.morningstar.com/trading/executive-compensation.action?t=QXM®ion=USA&culture=en-us
Morningstar Valuation ~ http://financials.morningstar.com/valuation/price-ratio.html?t=QXM®ion=USA&culture=en-us
CCBN (Thompson Reuters) ~ http://ccbn.aol.com/company.asp?client=aol&ticker=QXM
TradingMarkets ~ http://pr.tradingmarkets.com/?lid=leftPRbox&sym=QXM
OTCBB ~ http://www.otcbb.com/asp/SiteSearch.asp?Criteria=QXM&searcharea=e&image1.x=0&image1.y=0
Insidercow ~ http://www.insidercow.com/history/company.jsp?company=QXM&B1=Search%21
Forbes News ~ http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=QXM
Forbes Press Releases ~ http://search.forbes.com/search/find?&start=1&tab=searchtabgeneraldark&MT=QXM&pub=businesswire,prnewswire&searchResults=pressRelease&tag=pr&premium=on
Forbes Web ~ http://search.forbes.com/search/web?MT=UNGS&start=1&max=10&searchResults=web&tag=web&sort=null
YouTube Symbol Search ~ http://www.youtube.com/results?search_query=QXM
Buy-Ins ~ http://www.buyins.net/tools/symbol_stats.php?sym=QXM
Quotemedia ~ http://www.quotemedia.com/results.php?qm_page=47556&qm_symbol=QXM
Earnings Whispers ~ http://www.earningswhispers.com/stocks.asp?symbol=QXM
Bloomberg Snapshot ~ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=QXM
Bloomberg People ~ http://investing.businessweek.com/research/stocks/people/people.asp?ticker=QXM
Financial Times ~ http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=QXM
Investorpoint ~ http://www.investorpoint.com/ enter "QXM" and click search.
Hotstocked ~ http://www.hotstocked.com/ enter "QXM" and click search.
Raging Bull ~ http://ragingbull.quote.com/mboard/boards.cgi?board=QXM
Hoovers ~ http://www.hoovers.com/search/company-search-results/100003765-1.html?type=company&term=QXM
DD Machine ~ http://www.ddmachine.com/default.asp?m=stocktool_frame.asp?symbol=QXM
SEC Form 4 ~ http://www.secform4.com/insider/showhistory.php?cik=QXM
OTCBB Pulse ~ http://www.otcbbpulse.com/cgi-bin/pulsequote.cgi?symbol=QXM
Failures To Deliver ~ http://failurestodeliver.com/default2.aspx enter "QXM" and click search.
http://www.coordinatedlegal.com/SecretaryOfState.html
http://regsho.finra.org/regsho-Index.html
http://www.shortsqueeze.com/?symbol=QXM&submit=Short+Quote%99
DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=QXM
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=QXM
Check those searches for recent QXM mentions. If QXM is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a complete list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS
MACDlinks
~ Friday! $QXM ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!
~ $QXM ~ Earnings expected on Friday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=QXM&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=QXM&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=QXM
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=QXM#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=QXM+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=QXM
Finviz: http://finviz.com/quote.ashx?t=QXM
~ BusyStock: http://busystock.com/i.php?s=QXM&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=QXM >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
We should see some action tomorrow on $qxm
Wow about a year since the last post!
QXM broke out here and today over 2.75
http://stocktalking.net/index.php?topic=68.msg160#new
I'm hoping this is good news!
NEWS...Qiao Xing Mobile (QXM) Cancels Proposed 40% Equity Interest Acquistion in Beijing Eversun Technology
Qiao Xing Mobile Communication Co., Ltd. (NYSE: QXM) announced that it will not proceed with the proposed acquisition of the 40% equity interest in Beijing Eversun Technology Co., Ltd. ("Eversun") that was previously announced on December 14, 2009.
"Due to disagreements relating to certain commercial terms between QXM and Eversun, we do not feel that this acquisition will be in the best interests of QXM and its shareholders," said Chairman Zhiyang Wu. "Notwithstanding the decision to call off the acquisition, we will continue to work closely with Eversun to explore business cooperation opportunities in the PRC mobile handset market."
[SM]
Acquisition of 40% Equity Interest in Beijing Eversun Technology Co., Ltd.
Dec 14, 2009 08:20:00 (ET)
BEIJING, Dec 14, 2009 /PRNewswire-Asia via COMTEX/ -- Qiao Xing Mobile Communication Co., Ltd. (QXM, Trade ) ("QXM" or the "Company"), a domestic manufacturer of mobile handsets in the People's Republic of China (the "PRC"), today announced that it has entered into an agreement (the "Agreement") to acquire 40% equity interest in Beijing Eversun Technology Co., Ltd. ("Eversun") from two independent third parties (the "Vendors").
Headquartered in Beijing, Eversun is an online and offline retailer of mobile handheld devices in the PRC. Eversun owns and operates an online shopping mall at http://www.TD12580.com that has been designated by various subsidiaries of China Mobile Limited ("China Mobile") to engage in the online retail sale of 3G terminal products in the Guangdong, Henan, Hubei and Shaanxi provinces of the PRC. Such 3G terminal products, which include netbooks and mobile phones from well-known manufacturers such as Lenovo, Hewlett Packard, Dell, Samsung, LG, Motorola and Dopod, are mainly sold with bundled China Mobile's TD-SCDMA services. In addition to online retail sales, Eversun is also currently engaged in the sale of 3G terminal products through a total of 49 retail stores owned by China Mobile in the Henan, Hubei and Shaanxi provinces.
Under the terms of the Agreement, QXM will acquire 40% equity interest in Eversun at a total consideration of RMB475 million, of which RMB400 million will be paid in cash and the balance by issuing new shares of the Company to the Vendors. The acquisition will consist of four tranches, each comprising the acquisition of 10% equity interest in Eversun.
The completion of the first tranche of the acquisition is subject to, amongst other things, satisfactory due diligence to be conducted by the Company and the entering into of a definitive share purchase agreement. The completion of the subsequent three tranches is conditional upon Eversun achieving certain operating and financial targets, including sales network coverage. Upon completion of the four tranches of acquisition, it is expected that QXM will become the largest shareholder of Eversun.
In addition to the RMB475 million purchase consideration, QXM will also pay an additional amount of up to RMB150 million in aggregate to the Vendors in the event that Eversun achieves a successful initial public offering within three years of the completion of the acquisition.
"This acquisition provides us with an excellent opportunity to venture into the lucrative distribution business which can provide the Company with a new opportunity for growth," said Zhiyang Wu, Chairman of the Company. "In addition, we also expect that we will be able to leverage on our relationship with Eversun to improve the sale of our own mobile handset products."
About Qiao Xing Mobile Communication Co., Ltd.
Qiao Xing Mobile Communication Co., Ltd. is a domestic manufacturer of mobile handsets in China. The Company manufactures and sells mobile handsets based primarily on the GSM, TD-SCDMA, and WCDMA technologies. It operates its business primarily through CEC Telecom Co., Ltd., or CECT, its 96.6%-owned subsidiary in China. Through its manufacturing facility in Huizhou, Guangdong Province, China, and two research and development centers in Huizhou and Beijing, the Company develops, produces and markets a wide range of mobile handsets, with increasing focus on differentiated products that generally generate higher profit margins. For more information, please visit http://www.qxmc.com .
Qiao Xing Universal Telephone, Inc. Sold Back Senior Convertible Notes Which It Owns in its Subsidiary
Nov 30, 2009 08:00:00 (ET)
HUIZHOU, China, Nov 30, 2009 /PRNewswire-Asia-FirstCall via COMTEX/ -- Qiao Xing Universal Telephone, Inc. (XING, Trade ) (the "Company" or "XING"), an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, China today announced that the Company has sold the 4% Senior Convertible Notes due 2011 (the "Notes") of its subsidiary Qiao Xing Mobile Communication Co., Ltd (QXM, Trade ) (the "Subsidiary"), which it owns, back to the Subsidiary.
The Subsidiary paid the US$30 million aggregate principal amount, plus US$1,790,081 of accrued interest and foreign exchange expenses, to the Company for the Notes. The Company purchased the Notes on March 31, 2009 from DKR SoundShore Oasis Holding Fund Ltd., CEDAR DKR Holding Fund Ltd. and Chestnut Fund Ltd., at a discounted price of US$24 million.
In accordance with the terms of the Notes, the holders of the Notes have the right of optional redemption in November 2009 (the "Early Redemption Date"). XING had intended to hold the Notes until this early Redemption Date and get fixed return on this investment; therefore, it decided to sell them back to its Subsidiary. Furthermore, as the Company is moving quickly with its strategic transition to focus on the resources industry, it may require greater cash reserves for potential acquisitions. XING expects to record a significant gain for this investment.
"The sale is a reflection of our commitment to strategically focus on the resources business. With an over US$31 million cash injection following the transaction, we expect to have increased financial flexibility to pursue new opportunities to make additional acquisitions in the resources industry," commented Mr. Ruilin Wu, Chairman and Chief Executive Officer of XING. "This move also demonstrates our commitment to improve our corporate governance by instituting a simple and independent relationship between XING and QXM."
About Qiao Xing Universal Telephone, Inc.
Qiao Xing Universal Telephone, Inc. is an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, China. The Company was previously one of the leading players of telecommunication terminal products in China, but made the strategic decision to diversify into the resources industry in 2007. In April 2009, the Company acquired 100% equity interest in China Luxuriance Jade Company, Ltd ("CLJC"). CLJC, through its wholly owned Chinese subsidiaries, owns the rights to receive the expected residual returns from Chifeng Haozhou Mining Co., Ltd. ("Haozhou Mining"), a large copper-molybdenum poly-metallic mining company in Inner Mongolia, China. Since then, the Company has further refined its strategy to become a pure resources company and is actively seeking additional acquisition targets in the resources industry while negotiating with potential buyers to divest its indoor phone and lower-end mobile phone business.
Safe Harbor Statement
This announcement contains forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words or phrases such as "aim," "anticipate," "believe," "continue," "estimate," "expect," "intend," "is /are likely to," "may," "plan," "potential," "will" or other similar expressions. Statements that are not historical facts, including statements about Qiao Xing Universal Telephone, Inc.'s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward- looking statement. Information regarding these factors is included in our filings with the Securities and Exchange Commission. Qiao Xing Universal Telephone, Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of November 30, 2009.
For more information, please contact:
Company Contact:
Mr. Rick Xiao, Vice President
Email: rick@qiaoxing.com
Tel: +86-752-282-0268
Investor Relations Contact:
Mr. Ed Job, Account Manager
Email: ed.job@ccgir.com
Tel: +1-646-213-1914 (NY office)
I don't own XING right now.
Bad management, even if it IS trading at almost cash-on-hand.
-Fernando
Why buy?
Himanshu Shah
New 52 week high today at 4.48.
Lets see where it closes..........not overbought yet, and no news is kinda scary.......
+0.47 (+12.24%)
So far, another good day !
#4 for % gainers on NYSE at this time.
Good day, so far.........bought 400 instead of my planned 100.
#1 so far today on NYSE percent gainers.......
Thanks for the input, but can you elaborate?
I'm just starting researching this company and any info would be appreciated. Thanks!.
Agreed- I'd buy XING here before QXM but am not interested in either.
Why would someone buy QXM though? Why not buy XING instead, they own like 70% of QXM...hehe.
Granted, management for both kinda sucks...
-Fernando
crappy management though...
I just found this company, while looking for opportunity outside the U.S.. Buying a little (100 SHARES) Monday.
I GUESS THEY A FAIRLY BIG IN CHINA AND HAVE A LOT OF CASH.
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Qiao Xing Mobile Communication Co., Ltd. is a domestic manufacturer of mobile handsets in China. The Company manufactures and sells mobile handsets based primarily on global system for mobile communications (GSM) global cellular technologies. As of December 31, 2008, the Company was in the process of developing third generation (3G) mobile handsets based on the wideband code division multiple access (WCDMA) and time division synchronous code division multiple access (TD-SCDMA) technologies. The Company operates its business primarily through CEC Telecom Co., Ltd. (CECT), its 96.6%-owned subsidiary in China. Its products have been primarily sold under the CECT brand name and it launched the VEVA brand in May 2008. The Company develops, produces and markets a range of mobile handsets, with focus on differentiated products. On March 5, 2009, it incorporated Beijing VEVA Technology Co., Ltd. (BVT) in Beijing, China to engage in the sales of mobile phones and accessories.
Company Contact
Headquarters: 10th Floor CEC Building,
6 Zhongguancun South Street,
100086 Beijing CHINA
Web Address:
http://www.qxmc.com
Investor FAQs |
Q. What is Qiao Xing Mobile Communication’s ticker symbol? Q. On what market does the shares of Qiao Xing Mobile Communication trade? Q. What is Qiao Xing Mobile Communication’s fiscal year end? Q: When and where was Qiao Xing Mobile Communication incorporated? Q: What is Qiao Xing Mobile's business? Q: How many employees does QXM have? Q: Where is QXM's corporate headquarters located? Q: What is VEVA? Q: Will QXM buy back stocks? Q: How was the EPS of Q4 2009 calculated? Q: Will QXM redeem the convertible bond? |
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