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Chinanews.cn reports that
Beijing Xinwei Telecom Technology
is actively seeking a U.S. listing
through a merger opportunity.

Wed Mar 19, 3:01 AM ET

Beijing, China (PRWEB) March 19, 2008 -- Beijing Xinwei Telecom Technology Inc, after a year of waiting to list on the Szhezhen Stock Exchange has taken a different path according to chinanews.ca. In early 2007, Xinwei failed in its bid to list on the Szhezhen, and in its bid for an IPO. They are looking to reverse merge with a U.S. based company. Clayton Dunning Group, (CGGP) a listed Pink Sheet shell company, seems to be the front runner. In a China News telephone query, Zhen Shui, a Senior VP stated, "We have been looking for a candidate with no debt, and enough shares and liquidity options for our stakeholders. Rather than an expensive and time consuming IPO, we will merge with a U.S. public company shell and move straight to Nasdaq or NYSE quickly but on our own schedule. Clayton Dunning is one of several companies that our advisors have investigated and according to them, this is the one company that we will focus our efforts on. We will proceed with following announcements in weeks coming ahead. This merger will be beneficial for all parties involved, and former shell stockholders would retain 15-20% of new company." Shui would not comment on additional negotiation specifics or timetable, but said the agreement could be finalized by May. Xinwei reported revenues of U.S. $235 million in 2007.

About Beijing Xinwei Technology, Inc.

Beijing Xinwei Telecom Technology Inc, founded in Nov. 1995 and reorganized in 2000, owns advanced technology with whole essential intellectual property rights and becomes the drive of modern wireless communication industry. The company is a high-tech enterprise which integrates product research and development, manufacture, sales, installation and after-sale services. The headquarter and the research center locate in Beijing. Chongqing Xinwei, the subsidiary company, is one of the national core demonstration firms, which has modern manufacturing capability and quality control system. Shenzhen Research Institute plays an important role in industrialized product research. Beijing Xinwei Telecom Technology Inc, has over 2500 employees。

Based on the strong research and development, Beijing Xinwei Telecom Technology Inc. devotes itself into the national telecommunication industry. It transforms the technology of smart antenna, synchronous CDMA, air interface channel and the software radio into satisfied products and services. The comprehensive equipments provide an integrative solution on wireless mobile voice and wide band data, which create high profits with low costs for the operational companies.

Headquarter
Addr: Xinwei Building,No.7 Zhongguancun Software Park,No.8 Dongbeiwang West Road,Haidian District,Beijing China
Tel: [phone]
Fax: [phone]
Zip code: 100094

Bejing Xenwei Telecom technology Inc
Zhen Shui
86-10-6280288
E-mail Information
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