Gosun Communications Limited Inc. Becomes Grade 'A' Agent of China Mobile Communications Corporation
LOS ANGELES--(BUSINESS WIRE)--Oct. 4, 2001--Gosun Communications Limited Inc. (OTCBB:GOSN - news):
Company Anticipates 30,000 New Cellular Telephone Service Subscription Customers During Second Half of 2001 Company Expects to Sell 30,000 Pre-Paid Cellular Telephone Service Debit Cards During Second Half of 2001
Gosun Communications Limited Inc. (OTCBB:GOSN - news) proudly reports that it has been designated as a Grade ``A' Agent of the Guangzhou branch of China Mobile Communications Corporation, China's largest cellular telephone service provider.
As a result of this designation, the Company will receive from China Mobile Communications Corporation 3.8% of both the total subscription fee and the total monthly air-time consumption fee for the first nine months of service of each new customer of the Company beginning July 31, 2001. These amounts are in addition to the initial subscription fee of $10 that is received by the Company from each customer who enters into a monthly cellular telephone service subscription plan.
Management of the Company believes that this arrangement with China Mobile Communications Corporation will significantly increase revenue and improve the Company's net income for 2001 and will further strengthen its corporate image as a dominant retail chain network in the Peoples Republic of China. Management anticipates that during the second half of 2001, at least 30,000 new customers will enter into monthly cellular telephone service subscription plans with the Company.
In addition to the 30,000 new customers that are expected to enter into monthly cellular telephone service subscription plans with the Company, management anticipates that it will sell approximately 30,000 pre-paid cellular telephone service debit cards to other customers during the second half of 2001. The Company receives approximately $3 for each pre-paid cellular telephone service debit card it sells. Management believes that this program will also increase revenue and improve the Company's net income for 2001.
About the Company
Gosun Communications Limited Inc. is the retail arm of the Gosun Communication Group, one of the better known privately controlled corporations in the field of telecommunications in China, founded in 1992 and employing in excess of 1,800 people. Gosun is incorporated in the state of Texas and headquartered in Guangzhou, a fast growing city of 10 million inhabitants in Guangdong Province, South China.
The principal business of the Company is focused on the retail sale and distribution of telecommunication equipment and related products. It also acts as an agent of cellular and paging services providers throughout China. The Company is a licensed primary agent of China Mobile Communications Corporation, one of the two exclusive cellular communications providers in the Peoples Republic of China. The Company's significant product suppliers include Nokia, Motorola, Alcatel, Siemens and Samsung to name a few.
Employing approximately 450 staff, Gosun is the largest seller and distributor of telecommunications equipment in Guangzhou City, with more than 25% market share generated through 20 directly owned chain stores in Guangdong Province. There are 4 additional chain stores in Shanghai and within 2 years, Gosun plans to expand on its business model by creating 80 more stores in the largest Chinese cities.
For the quarter ended March 31, 2001, the Company had revenues of US$10,171,306 and for the quarter ended June 30, 2001, the Company had revenues of US$13,332,938. Revenues for the quarter ended Sept. 30, 2001, are expected to be approximately US$17,500,000.
Additional information about the Company can be found at its website www.gosuncommunications.com.
Statements made in this news release concerning predictions of performance and the Company's plans and objectives are not historic facts and constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve important risks and uncertainties that may cause results to differ materially from those set forth in this news release. All forward-looking statements are subject to the successful completion of actions described in the news release. Readers should carefully review the Company and publicly available filings thoroughly with their registered investment advisor or registered broker.
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Contact:
de Jong & Associates (for Gosun Communications)
Ron de Jong, 877/943-9065
www.dejong.org
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