Hartcourt Companies (fka HRCT)

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Fact Sheet

Hartcourt actively expanded its operation in China in 2003 by completing key acquisitions in the IT distribution and retail services sector and became the fastest growing company in this sector. So far, Hartcourt has strategically acquired control interest of seven profitable companies: Shanghai Huaqing, Guangdong NewHuaSun, Shanghai Guowei, Wenzhou Zhongnan, Shanghai Pengyang, Beijing Challenger and Shanghai Computer ServiceNet.

Operational Facts
Total Employee Number: over 1000 employees
Total Retail Store: over 40 retails store with total area of more than 2300m2
Total Warehouse: Total area of more than 3000m2

Financial Facts ( 9 months results as of September 2003)
Revenue: USD 67,500,177
Operating Profit: USD 1,066,136
Net Profit: USD790,675
Total Assets: USD 42,607,960
Number of Outstanding Common Shares: 161,404,449 shares

Subsidiaries Highlights

Shanghai Huaqing
- Ranked No. 26 of Top 100 IT Product Distributors in 2002 by IDG's Computer World China
- Exclusive distribution agent for Samsung monitor in Shanghai and Zhejiang province since 1998

Guangdong NewHuaSun
- Ranked No. 8 & 45 in the Top 100 IT products distributors in Southern China and China respectively in 2003
- Exclusive distributor of Samsung Electronics for monitor products in Guangdong province

Shanghai GuoWei
- Awarded Top 100 IT Distributors in Eastern China in 2003
- Awarded Gold Medal in Intel Main Board Sales for the 3rd quarter in 2003
- Authorized Dealer for AOC, BenQ & MSI products

Wenzhou Zhongnan
- Awarded Excellent Agent for Philip in 2003
- Partnership with HP value-added business in 2003
- General Agent for Philip monitor & Asus Notebook in Southern Zhejiang

Beijing Challenger Group
- Top dealer for IBM products among the five-star resellers in China
- Ranked No. 2 in IBM Server Sales in Eastern China in 2003
- Championship of Sales for IBM PCD in 2002

Shanghai Computer ServiceNet
- Awarded the Best Partners for IT Outsourcing Service by HP China in 2003
- Awarded Top 10 Hi-Tech Private Enterprise in Shanghai Jiading in 2002