GRRF news-China GrenTech Obtains 100 Million Yuan RF Order
Tuesday October 23, 6:25 am ET
SHENZHEN, China, Oct. 23 /Xinhua-PRNewswire-FirstCall/ -- China GrenTech Corporation Limited (Nasdaq: GRRF; ''the Company'' or ''GrenTech''), today announced that it obtained orders with contract value over RMB100 million from a well-known large domestic base station equipment manufacturer for the procurement of RF modules. These orders are expected to be delivered by the end of the year. GrenTech obtained shares of the overall allocation including GSM, CDMA and WCDMA filters. In particular, the Company secured about a 60% share of GSM filters, which were consumed most by the OEM in its production.
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Mr. Yingjie Gao, Chairman and Chief Executive Officer commented, ''As more global base station equipment manufacturers start to procure base station RF parts and components in China, and leading domestic base station equipment manufacturers expand their businesses, the landscape for base station RF parts and components in China demonstrates increasing promise. The strong market demand provides great growth opportunities for a leading China based RF technology and product developer like GrenTech, who has comprehensive strength in RF technology and product development.''
''Developing a base station RF business is an important stage in the Company's strategic development. After two years of hard work, the Company is now a qualified supplier of RF parts and components to major domestic and global base station equipment manufacturers, such as Huawei, ZTE, Datang Mobile, TD-Tech, Siemens, and Alcatel," Mr. Gao continued.
''Our base station RF business strategy is to expand market share via mass production of passive modules for current base station OEMs, while enhancing profitability by developing and offering active modules. In addition, the Company is currently working to expand into global OEM markets to continue diversifying and broadening customer base to drive top line growth and improve bottom-line results. Base station RF business is our key growth driver, and we are confident about its growth,'' Mr. Gao concluded.
