Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Very good point Lucky......I too was very happy with seeing the exercise price at .64.
Agreed......Like I said earlier I would be happy at $1-$2 shareprice over the next 6-12 months....unless of course they start showing more profits from these aquisitions because of market share and or cinergies(SP) that pop up where they cut costs.
Boston Dude....IMHO, you would probably be better served using a PE like that of DELL which is at 39.42.......although we are not a direct maker of computers like Dell, these companies that have been aquired deal in computers and computers peripherals.........they don't sell washing machines, friges and Tv's like a Best Buy......and they sell many different components for those computers not those stock HP's that Radio Shack sells. And having said that the margins should be much more in line with a Dell and Gateway (which by the way is scheduled to LOSE $1.18 a share this year)........kind of makes that .035 a share PROFIT look good does it not?! LOL
Boston Dude.....one flaw is that you are comparing PE's of Beat Buy and Radio Shack which have stiff compitition in an over saturated market like the U.S.......I think it is fair to say that China's Computer market is nowhere near the saturation point as the U.S. (If my memory serves me.... Computers to households is U.S. 50% vs. China 5%).......that reason alone should afford HRCT a much higher PE ratio.....JMHO
My apologies....Rookie
Commoname....I believe HRCT could book 100% of Revenues and only 51% of profits now......If I'm not mistaking.
Italy....I agree that is not chicken feed....I happened to purchase another large chunk at .06......But you must realize that HRCT is on the OTC, not the Nasdaq or even the AMEX, so for some people to be calling for the same returns or shareprice as SINA, SOHU, XING, Etc. is just unrealistic IMHO.......Many people talk of institutional investors and mutual fund buying in the future.....but the reality is that as hot as we might get....they wont touch us. I think many need to read there Mutual Fund Prospectus, most mutual funds are strictly prohibited from buying OTC/Pink Shets, Junk Bonds Etc......As many of us longs have been saying for quite some time....the number one thing is getting off this OTC.....the rest will take care of itself.
TheRookie.....Investorman is not bashing.....he is stating the obvious.......over the past few weeks HRCT has not been a good investment (Unless you like negative gains). PERIOD....From what I have read that is all he meant.....Understand that many of us here have been stock holders in HRCT for over 4 years, with Investorman being one of those......So I believe the man has earned the right to vent a bit. JMHO
metoo....New York
Mr. Li ZhengZheng, Chairman and President of HuaQing comments: "Chinabyte, the
leading IT magazine, described Hartcourt as 'China's Emerging PC Marketing
Leader in China.' Apparently, our shareholders and management agreed with this
assessment. We are proud to be under Hartcourt's leadership to expand
aggressively our business operation, in coordination with other subsidiaries.
This is also a vote of confidence in HuaQing as a result of our performance and
growth despite SARS epidemic
Italy.....with all due respect the board members on this board GUESS at stock price......WISHING does not make it true. I personally would be more than happy too see a dollar or two at most......remember what goes up like a rocket usually comes........
Anyone else noticing Bid and Ask closing and moving higher????
.655 x .66
With two more MM's moving their bids up to the .65....not any two MM's either....NITE and SCHB
TIN..All this talk of MEAT has gottin me hungry.......Tin, my cheeseburger done yet????...LOL
TIN....MADE MONET OR NOT?????? 98 % OF THEM WERE LEAKING MONEY LIKE SIVS.....LOL
PC Magazine lauds Dell, Apple; scorns HP, Compaq, Acer
AP
Friday, Jul 11, 2003,Page 12
The biggest merger in high-tech history may be a financial success for Hewlett-Packard Co and the former Compaq Computer Corp, but it hasn't made buyers of their computers any happier.
Both brands picked up terrible grades in an annual PC user satisfaction survey released Thursday.
Dell Computer Corp, on the other hand, continued to shine.
And overall, the 18,000 subscribers surveyed by PC Magazine were happier this year than last year about the reliability of their computers and the available technical support.
Much of the credit for that improvement goes to Microsoft Corp's Windows XP operating system, which was released in October 2001, the survey found. Earlier incarnations of Windows were more likely to crash or freeze.
Windows XP "has lived up to a lot of its promise," said Ben Gottesman, executive editor of PC Magazine, which has produced the user satisfaction report for 16 years.
The magazine asked subscribers several detailed questions about their desktop and notebook PCs, servers and printers.
It graded on a curve, so a PC maker with improving service and reliability could get marked down if it wasn't keeping up with the rest of the industry.
Dell led the desktop PC category for the 12th time in 13 years, scoring an A-plus.
Apple Computer Inc also got an A-plus, after not making last year's rankings because too few PC Magazine subscribers used Macs.
Sony Corp got an A, as did ABS Computer Technologies Inc, a Whittier, California-based maker of PCs geared toward value-conscious buyers and video game players.
Meanwhile, HP and Compaq desktops both got an E -- the lowest possible grade -- along with those by Acer Inc, eMachines Inc and NEC Corp.
HP had scored a D-minus last year, while Compaq had the scarlet E last year as well.
When PC Magazine asked its subscribers about their experiences in getting technical support or repair help from different companies, HP and Compaq scored worse than average in 12 out of 15 categories.
To be sure, HP's US$19 billion acquisition of Compaq last year never really was billed as a boon to consumers.
The companies' main goals were to streamline their PC divisions and strengthen products and services for corporate customers.
Still, the failing grades indicate how little progress Hewlett-Packard has made in answering to competition from Dell, which regained the worldwide lead in PC sales from HP in the first quarter.
HP spokesman Roger Frizzell called PC Magazine's report card merely "a small snapshot of our PC business," which he pointed out has been profitable the past two quarters.
He said HP has taken strides recently to improve its customer service, such as introducing support services in Spanish and launching a toll-free number for repair questions.
In laptop or notebook computers, the top grades went to IBM Corp, Toshiba Corp and Apple. Dell picked up a B-plus, while HP earned a B. Compaq got the only E.
Hewlett-Packard can take solace that the luster hasn't worn off its "crown jewel" -- its printer division. HP printers got an A-plus, leading the rankings for the 12th year in a row.
Samsung debuted in the printer results with an A, while Panasonic, Epson, IBM and Brother all got Bs. Another popular printer brand, Lexmark, scored a D.
While overall PC user satisfaction rose in this year's survey, the magazine's editors noted that more readers complained of having difficulty communicating with the people staffing help desks and service call centers that have been moved overseas to cut costs.
"It's really affecting the quality of support," Gottesman said. "It's something we have to keep an eye on."
This story has been viewed 434 times.
Legend Group sets up purchase office in Taiwan
Taiwan Headlines, Wed 9 Jul 2003
Legend Group, the largest PC conglomerate in China, recently set up its first international procurement office (IPO) in Taiwan, industry sources said on Tuesday.
Initially, the newly established IPO will employ 10 people. Legend Group expects to purchase between NT$40 billion (US$1.16 billion) and NT$50 billion from Taiwan this year, up over 50 percent from 2002.
Legend Group boasted the world's No. 9 PC sales in 2002, with deliveries reaching 3.1 million units. It has cooperated closely with Taiwanese OEM (original equipment manufacturer) partners in notebook PCs, tablet PCs, motherboards, PC cases, pocket PCs, monitors, and digital cameras.
Early this year, Yang Yuan-chin, chairman and CEO of Legend Group, visited Taiwan and negotiated with local OEM makers for the new cooperation projects for the year. The group expects to soon release its mobile handset orders to Taiwanese makers, thus expanding the cooperation ties from IT (information technology) to the communications field.
Over the past few years, Legend Group has purchased notebook PCs from major Taiwanese makers in the line, including First International Computer, Compal Electronics, Quanta Computer, Wistron, and Getac, for example. It has also cooperated with Gigabyte Technology and Elitegroup Computer Systems in motherboards.
"Legend" is now the No. 1 PC brand in China. The group expects to use "Lenova" as the new brand in the world market.
--------------------------------------------------------------------------------
Source: http://www.taiwanheadlines.gov.tw/
China's Foreign Trade Surged 39 Percent in First Half Year
China's foreign trade turnover reached 376.14 billion US dollars in the first half of the year, up 39 percent over the same period last year, according to statistics released by the General Administration of Customs Friday.
PRINT DISCUSSION CHINESE SEND TO FRIEND
China's foreign trade turnover reached 376.14 billion US dollars in the first half of the year, up 39 percent over the same period last year, according to statistics released by the General Administration of Customs Friday.
Overall exports reached 190.32 billion US dollars, up 34 percent, and total imports were valued at 185.82 billion US dollars, up 44.5 percent. The trade surplus added up to 4.5 billion US dollars.
Foreign trade volume in the month of June was up to 66.81 billion US dollars, up 36.1 percent, including 34.48 billion US dollars of exports and 32.33 billion US dollars of imports, up 32.6 percent and 40.1 percent respectively.
China's trade with its main trading partners has maintained good growth for the first six months, according to the figures.
The trade volume with Japan, China's largest trading partner, hit 60.91 billion US dollars, up 36.1 percent.
Trade between China and the United States reached 56.4 billion US dollars, up 34.4 percent, making the United States China's second largest trading partner.
China's trade with Europe, China's third largest trading partner next to Japan and the United States, hit 55.51 billions US dollars, up 44.2 percent.
The trade between China and its other main trade partners also recorded an average increase of more than 20 percent, including an increase of 40 percent for the trade with the Association of Southeast Asian Nations and Republic of Korea.
For the first half of this year, the exports of machinery and electronic goods amounted to 96.29 billion US dollars, up 41.5 percent, accounting for 50.6 percent of the total exports.
During the same period, the imports for primary goods reached 33.82 billion US dollars, up 60.2 percent.
China imported 43.80 million tons of crude oil, up 32.8 percent. Its imported 12.68 million tons refined oil, up 59.75 percent, 72.48 million tons iron ore, up 42 percent, and 1.97 million tons edible oil, up 110 percent.
In the meantime, the imports of manufactured products rose to 152 billion US dollars, up 41.4 percent.
Questions?Comments? Click here
Advanced
OT: Would explain SOHU pop in last few weeks....fund managers now need to own a slice if they balance their portfolios to the Russell.
SOHU.com Added to Russell 2000 Index
BEIJING, July 10 /PRNewswire-FirstCall/ -- SOHU.COM Inc. (Nasdaq:SOHU), China's leading online media, communications, commerce and mobile value-added services company, today reported that it has been added to the Russell 2000(R) and Russell 3000(R) Indexes following the Frank Russell Company's annual reconstitution. Index membership began July 1, 2003 and will remain effective for one year. Membership in the Russell 3000 automatically qualified the company for inclusion in the small-cap Russell 2000 Index.
"We are delighted to join the prestigious Russell 2000 Index. With this addition to the Russell 2000 Index, we are excited to reach a broader shareholder audience. During the past year, we have built a profitable business model based on diversified revenues. In the second quarter of 2003 we achieved a stronger than expected performance in both our consumer business and online advertising. Our online and wireless services have helped make the Internet a mainstream media and entertainment platform in China," said Chairman and CEO Charles Zhang.
About the Russell Indexes
Membership in Russell's 21 U.S. equity indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Safe Harbor Statement
This company's announcement contains forward-looking statements. It is currently expected the Business Outlook will not be updated until the release of SOHU's next quarterly earnings announcement; however, SOHU reserves the right to update its Business Outlook at any time for any reason. We may also make written or oral forward-looking statements in our periodic reports to the Securities and Exchange Commission on Forms 10-K, 10-Q, 8-K, etc., in our annual report to shareholders, in our proxy statements, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, SOHU's historical and possible future losses, limited operating history, uncertain regulatory landscape in the People's Republic of China, fluctuations in quarterly operating results, and the company's reliance on online advertising sales, e-subscriptions (most of which are collected from a few telecom operators) and e-commerce for its revenues. Further information regarding these and other risks is included in SOHU's Annual Report on Form 10K for the year ended December 31, 2002, Quarterly Report on Form 10Q for the quarter ended March 31, 2003 and other filings with the Securities and Exchange Commission.
About SOHU
SOHU.com is one of China's most recognized and established Internet brands and indispensable to the daily life of millions of Chinese who use the portal for e-mail, alumni club, short messaging services, news, search, games, browsing and shopping. Apart from continuous product and services development, SOHU.com also concentrates its efforts on making the Internet ubiquitously available, whether in the office, at home or on the road. SOHU.com, established by Dr. Charles Zhang, one of China's Internet pioneers, is in its seventh year of operation.
SOURCE SOHU.COM Inc.
CO: SOHU.COM Inc.; Frank Russell Company
ST: China
SU:
Web site: http://www.sohu.com/about/English
http://www.prnewswire.com
07/10/2003 02:42 EDT
ROFLMAO....TFN
Minddoc.....with that purchase you will recieve a special limited edition, "HARCOURTERS GONE WILD VIDEO" (Uncensored of course)....LOL
tHESE GUYS NEVER LEARN......
COMMISSION OBTAINS SUMMARY JUDGMENT AGAINST KEVIN KIRKPATRICK FOR MONETARY
RELIEF SOUGHT IN CONNECTION WITH MANIPULATION SCHEME
The Commission announced that the Honorable William H. Pauley, U.S.
District Judge for the Southern District of New York, entered Summary
Judgment against Kevin Kirkpatrick (Kirkpatrick) on July 2 in connection
with a market manipulation scheme.
The Court found that, "from March through at least December 1998,
Kirkpatrick and his co-defendants engaged in a scheme to manipulate the
price of Maid Aide, Inc. (MDAN) stock. This tripartite scheme involved
the defendants, including Kirkpatrick: (1) gaining control of the market
supply of MDAN stock; (2) creating an artificial public demand for the
stock through a boiler room operation; and (3) creating an appearance of
actual market activity and controlling trading of MDAN stock through
Kirkpatrick . . . ." At the time of the scheme, Kirkpatrick was
employed as a trader with Olsen Payne and Company, a Utah-based
brokerage firm. The Court ordered Kirkpatrick to pay $92,000 in
disgorgement, $33,173.81 in prejudgment interest, and a $75,000 civil
penalty. By consent judgment dated January 23, 2003, the Court also
permanently enjoined Kirkpatrick from future violations of Section 17(a)
of the Securities Act of 1933, Section 10(b) of the Securities Exchange
Act of 1934, and Rule 10b-5 thereunder. The Commission subsequently
filed its Summary Judgment motion seeking monetary relief against
Kirkpatrick. [SEC v. Tanner, et al., 02 Civ-0306, SDNY] (LR-18218)
TFN.....Right now I am not as concerned with price as I am with Volume......IMHO price in Low volume shares can be manipulated much more frequently and drastically than those in high volume stocks.
Thanks a lot TFN....maybe I should disappear for the better good of HRCT....LOL
Back from vacation...nice to see upward move.
Good question MBR........Why not ask (as Mrs. BoatRGirl calls him) Mr. Cha Ching?.....LOL
LOL BoatRGirl.....EOM
Tin, Just goes to show, in China it doesn't matter how big you are just who you know.......here is another write up.....
AOL Time Warner retreats from China
Owen Gibson
Thursday July 3, 2003
US media giant AOL Time Warner is abandoning its dreams of becoming a big player in Chinese TV after selling the controlling stake in its Chinese TV arm,
ADVERTISEMENT
leaving Rupert Murdoch's Star TV with the upper hand.
AOL sold a 64% stake in the TV company to an outfit backed by Asia's richest man, Li Ka-shing.
As part of the deal, Li Ka-shing's internet, publishing and advertising group, Tom.com, will pay $6.8m for the stake and promise to invest $30m into the loss-making broadcaster over the next 30 months.
AOL's decision to sell its controlling stake in China Entertainment Television continues a retreat from China by the media giant, which had high hopes for the market when it won the right to broadcast in the southern province of Guangdong.
In common with Mr Murdoch's News Corporation, which won the right to broadcast its Star TV channels but has pursued a much more aggressive strategy, AOL saw the province as a beachhead for expansion to reach China's estimated one billion-plus viewers.
China is the world's fastest growing media market and AOL has switched strategy in an effort to appeal to Beijing lawmakers, who exercise a tight grip over ownership and content regulation.
CETV is making heavy losses and has managed to capture just 2% or less of the market in the southern city of Guangzhou after a year and a half of operations, according to US analysts.
AOL will continue as a stakeholder in CETV, which provides Mandarin language entertainment programming to the province, with an option to buy back the controlling stake in 2007 at its market value or at 150% of Tom.com's original investment cost, whichever is the greater.
It hopes that by that time, it will have made inroads into the Chinese mainland.
AOL's strategy differs markedly from that pursued by News Corp.
The move also takes Li Ka-Shing back into direct competition with Mr Murdoch's Star TV, which the News Corp chief purchased from the Asian mogul over a decade ago.
Analysts say Mr Murdoch's company has pushed a typically aggressive strategy in the region.
It has bent the rules with its Mandarin language channel, Xing Kong Weishi, or Starry Sky Satellite TV, which broadcasts markedly different shows from the usual local fare and has pushed to reach an audience beyond what is allowed by the Chinese government.
Since purchasing Hong Kong-based Star TV from Li Ka Shing over 10 years ago, Mr Murdoch has made careful steps towards winning favour with the Chinese government to establish a television business.
This included dropping the BBC's world news service from Star TV's platform after its stringent criticisms of the Chinese regime, and backing out of a deal to publish the memoirs of the former Hong Kong governor, Chris Patten.
AOL, by contrast, has stuck rigidly to the rules in an effort to avoid offending Beijing.
"We have always taken the view with China that we wanted to go in the front door, even if it may take a little longer," Stephen Marcopoto, the head of Turner International Asia Pacific, the AOL division that controls its Chinese broadcasting interests, told the Wall Street Journal today.
· To give MediaGuardian a story email editor@mediaguardian.co.uk or phone 020
THAT MIGHT BE AN UNDERSTATEMENT.........LIKE SAYING THE EASTERBUNNY HAS SOME FURR......LOL
Tom.com Buyout, AOL Time Warner Sellout of CETV Set Stage for China TV Market Showdown
Tom.com's move to buy a 64 percent stake in China Entertainment Television has set the stage for a showdown between Richard Li, son of Hong Kong's premier tycoon Li Ka-shing, and Rupert Murdoch, owner of News Corps. Star TV, in the China market.
In the nineties, Richard Li, parlaying an investment from his father Li Ka-shing, built up the Star TV satellite TV channel, then sold it to News Corp., netting a US$300 million profit. Then, in 1999, he started Tom.com in Hong Kong as a pure Internet play in the Greater China market. In 2000, he purchased Hong Kong Telecom with his PCCW arm. Following the Internet crash, which started in 2000, tom.com has expanded its offline media presence in China into outdoor advertising and magazine purchases in Taiwan.
Rupert Murdoch has not been standing still either. He has quickly moved to shore up his relationship with the Chinese authorities, and has a Chinese wife, Wendy, who has been instrumental in opening doors with the right Chinese officials. Star TV, after its purchase by News Corp., was initially seen as a loser in the China market, but it has applied the same rules Fox applies in other markets: fast-talking, hard-hitting TV programs which draw in viewers, advertising and higher ratings while pushing the boundaries of acceptable boradcasting. In China, where TV content is strictly controlled by the government, this is a first. But since production is often done on what is called a "test basis", Star TV has been able to work the loopholes of the system.
In the meantime, Chinese TV viewers in Beijing and all over the country continue to order satellite TV dishes to watch Star programs. Already, the number of viewers is such that it is impossible for the government to stamp them out. Chinese media and production companies, which are owned by the government, are feeling the heat from this competitor which does not follow the same rules.
AOL Time Warner, unlike Star, did not pursue an aggressive marketing strategy in China, always waiting for the Chinese authorities to give official nods before making moves. As a result, its investment in China Entertainment Television in China languished. Faced with the challenges of investing in a market where the suffering corporate center did not understand how business was done in China, it instead has chosen to focus on the film distribution channel.
Now, Star TV nd Tom.com are set to go head to head in what is set to be the first major battle in China's media market.
SOMETHING MIGHT BE UP......WE HAVEN'T BEEN MENTIONED IN TWO OR THREE WEEKS AND THIS MORNING.....
HotStockChat.com Daily July 3, 2003
11:35AM EDT
EVERYONE HAVE A SAFE AND HAPPY INDEPENDENCE DAY HOLIDAY!!!
"Tune into Traders Nation 'LIVE' - The Largest Syndicated Radio Talk Show For Smallcap Stocks every
weekday morning at 11AM EDT for the latest in OTCBB news, stats, moving stocks and world news"
--------------------------------------------------------------------------------
Stocks of Interest and Stocks on the Move for 3 July 2003 at 11:30AM EDT:
HLSH- Up strongly again today.
RUBM- 1st time mention...
QTEK- Up nicely today. May need some more consolidation.... big move last couple of months.
SWYC- Just keeps going...
WAVE- Low priced stock up again today... A CONVERTIBLE PLAY; PLAY THE MOMENTUM BUT DON'T STAY LONG IS THE MOTTO!
LTWV- What a ride on this one the last week or so... stock is in a longer term up-trend.
COPY- Yesterday's mention... another big move today.
CGCP- Up today but lacks bid support.
GSTRF- Up again today...
ON THE WATCH LIST:
NEOM- Watching closely. All it seems to need is some volume.
TALL- News today... watching for a move.
AACS- Subscribers are tell us to watch and we agree.
EDIG- Chart shaping up again.... watching closely
CNEX- Nice long base... a move (either way) could come any time.
NTHD- Nice chart shaping up. May need a little more consolidation.
HRCT- Watching closely again...
IMDS- Chart shaping up... watching closely.
Others: PLKC, INFE
In the "Stocks of Interest and Stocks on the Move" section above, HOTSTOCKCHAT.COM does not own any of the stocks mentioned. Nor were we compensated by any third party on behalf of any company mentioned above. The fact that we mentioned the stocks is for informational purposes only and not a solicitation to buy any stocks mentioned in that section, in this emailing or on our web page. More information on our disclaimer page.
--------------------------------------------------------------------------------
11:30AM: The indices have settled a bit and are trading with mild losses at this point... Considering the distance gained by the market in the last two days and the batch of disappointing employment data this morning, the market is faring quite well as losses are ranging 0.4-0.5%... There's talk that the precipitous drop in the indices at around 10:40 ET was caused by an erroneous execution order, in which a major house sold 2000 SPX contracts instead of 200 and took the market down with it...
As such, the indices are well off their lows at this point, but the oil & gas services sector remains the sole leader to the upside...NYSE Adv/Dec 1159/1787, Nasdaq Adv/Dec 1221/1565
--------------------------------------------------------------------------------
OTCBB STATISTICS AS OF 11:35AM EDT:
Total Volume: 226,454,128
TIN, The fact that they have not back peddled off there outlook, quite frankly scares me.....if they don't show the improved numbers with at least break even quarter the share price along with whatever credibility that we have left will go down the tubes....IMHO.
I cant believe these MM's.....I am trying to buy 160k shares of another stock above the ask and they still wont fill the order.......Damn HRCT has to get off this OTC.
Just saw this....nice little right up.....
March 18th, 2003
Dear Shareholders and Investors;
We are pleased to present to you an overview of the Hartcourt story. Established since 1983 as a public corporation, we have gone through countless of peaks and valleys in our history, surviving the worst downturn of the hi-tech market in the last few years. One fact remains: we are still standing and was able to complete the acquisition of Hua Qing, marking another milestone in our achievements. Please visit our Web site, www.hartcourt.com, and read our PR’s for more details.
First and foremost, Hartcourt will be the biggest shareholder of Hua Qing with the control of the Board of Directors. As such, we shall be able to book the revenue and profit generated by Hua Qing. In 2003, Hua Qing revenue (projected $77 Million) will be much larger than the revenues shown by Chinadotcom, Sina or Sohu or NetEase, which have over $300 Million of market capitalization each.
In addition, the niche PC market targeted by Hua Qing is growing faster than China’s economy itself. Being the leader of the market in the most competitive city of China (Shanghai) means that Hua Qing has the know how to gain and maintain its market position. If Hua Qing could grow at a conservative rate of 20 percent per annum and if it could acquire a few major competitors in other cities along the way, we should be one of the Top Five PC marketers in China.
Another recent landmark in achievements was the launching of China Report magazine by Hartcourt Capital. The first issue will have a circulation of 20,000 copies, distributing directly to the investment community including investment banking firms, mutual fund managers, venture capitalists and brokerage houses throughout the US, Europe and Asia. The magazine will also be available via Web site, www.china-report.net, and weekly Emails to registered readers, starting May 2003. The objective of the magazine is to provide investors with updates and analysis on the fast-changing investment environment and opportunities in China.
With China Report, we have established Hartcourt Capital as a pioneering source of information and management services for institutional investors in China. We believe that China Report would be profitable within the first year of operation thanks to ad revenue and subscription. More importantly, the intangible assets of China Report would reflect very positively on Hartcourt Capital in the long term.
Hartcourt is finally turning a new page with the acquisition of Hua Qing Group and the launching of China Report. When it completes the spin-off of all other loss-making subsidiaries, Hartcourt will become what it sets out to be: a profitable innovative enterprise operating in the fastest-growing economy of the world.
Meanwhile, the subsidiaries (Elephant Talk, Sinobull, StreamingAsia, AI-Asia and E-Education) will grow stronger and better in their own way. Their future success, after a period of nurturing by Hartcourt, will be shared partially by all Hartcourt shareholders in form of dividends. Our original mission is to create a conglomerate of hi-tech companies, all inter-related. Because of the severe tech crash, we could not keep these companies together under one roof, but even as they are separated, they symbolize the success of the mission. We did what we said we are going to do.
We did the impossible. Hartcourt will never be weakened again. We learned our lesson, we persisted and we are moving to a new height.
We now join the GoNow Financial Network to increase the exposure of this fantastic journey. We hope to form a strong investor base with other member companies of the network so we shall prosper together.
We believe that the road to success is always under construction; therefore, we are striving to improve daily to reach our goal. We also believe that the best way to predict the future is to create it. We are the future.
Please join us.
THE HARTCOURT COMPANIES, INC.
Forward-looking statements
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
Close
Minddoc.....The last report showed growth......now we need break even or profits......actually, if they showed recurring strong revenue growth quarter over quarter that alone might get us going....All MHO of course. After all...Are the other China plays making money????
Eagle you could add Mine:
Been in since early 1999. I will hold and occasionally add to my position as long as the company can show me that it is proceeding in a CLEAR direction. I for one will not tolerate many more mindless setbacks (ie. Dates not being met on time). As I have stated many times.....I will treat HRCT as I would treat any of my other holdings.....as an Investment. If management can show me Profits without much dillution I will continue to add, if however, they promise mars and give you u-rANUS than.......LOL....CABBY
Huawei Technologies Expands Indian Development
Huawei Technologies, one of China's leading systems integration and router manufacturers, stands to benefit significantly from improved China-Indian ties following the visit of the Indian prime minister to China, and simplified visa application processing.
The company has had an office in Bangalore, India since 1998, and employs 500 Indian engineers from its headquarters in Shenzhen, China, across the border from Hong Kong, and in Nanjing and Beijing. Currently, Bangalore employs 550 Indians and 100 Chinese engineers. The company has already spent US$60 million, but it now plans to raise its investment to $100 million. This will bring its head count to 2,000 persons by 2005.
Up until the recent trip by Indian PM Vajpayee, the Indian government had placed visa restrictions on Chinese engineers visiting and working in India. During that trip, Mr. Vajpayee said that India and China should partner together on technology, with China playing a lead role in hardware, and India leveraging off its experience in software development.
Huawei Technologies has partnered in the US wit 3Com. Up until recently, it had its own line of routers, which were significantly cheaper than Cisco products. Recently, t has been fighting a court battle with Cisco, which has accused the company of stealing some of its source code, which is used by its line of Internet routers. Since then, Huawei has claimed that it has cleaned up its code and removed any contested code. The litigation is still pending in US courts.
/ Home / The Truth About Doing Business in China 2003 Edition / News / Contact Us /
Couldn't agree more MM.
6 MM's just moved onto the Bid.....
SCUMBAGS!!!!!!!!!!!!!
Tech Companies to Pay $1B in IPO Case
The Associated Press
Jun 26 2003 1:50PM
NEW YORK (AP) - Hundreds of companies that staged hot initial public offerings during the tech boom will pay $1 billion to investors under a tentative partial settlement announced Thursday, and cooperate in ongoing litigation against 55 brokerage firms accused of funneling huge payoffs to insiders through secret deals.
The massive case involves 309 separate suits filed by investors against 55 investment banks, more than 300 companies that went public between 1998 and 2000, and an unspecified number of their individual corporate officers and directors. The companies involved include Global Crossing, MP3.com, Ask Jeeves Inc. and Red Hat Inc.
The proposed settlement guarantees investors will receive at least $1 billion, to be paid by the tech companies' insurers, said Melvyn I. Weiss, chairman of a committee of attorneys representing the plaintiffs.
Most of the defendants involved have approved the settlement, which also requires court approval, he said.
But no funds will be paid to investors until the case against the investment banks is resolved, he said. If that action yields an award greater than $1 billion, then the companies' obligation will be met.
The plaintiffs say the banks, including J.P. Morgan, Credit Suisse First Boston, Morgan Stanley and Smith Barney, plotted to artificially inflate the value of IPO stocks through a practice called ``laddering,'' in which larger shares are allocated to investors who promise to take bigger stakes after the stock hits the open market.
In addition, some customers were compelled to give extra compensation to the banks that were underwriting the IPOs, sometimes through inflated commissions on other trades. Later, after the so-called ``quiet period'' that follows IPOs expired, analysts who worked for the banks issued favorable research reports to help give the stocks ``booster shots,'' Weiss said.
The memorandum of understanding was reached after more than a year and a half of negotiation between lawyers for the investors, counsel for more than 300 companies and at least 42 primary insurers, Weiss said.
06/26/03 13:44 EDT