SHENZHEN, China, Dec. 22 /PRNewswire-Asia-FirstCall/ -- China GrenTech Corporation Limited (Nasdaq: GRRF, the "Company" or "China GrenTech") announced that it has won its bid to produce RF modules for a globally recognized and the leading Chinese manufacturer of CDMA and WCDMA base station duplexer and filter series. Based on the manufacturer's estimates, the contract value is approximately RMB45 million. It is expected that product delivery will be completed in the first half of 2009.
Mr. Gao Yingjie, Chairman of China GrenTech, said, "We are very pleased with the successful win and believe that this will further enhance the growth of our RF business for the first half of 2009. As the number of RF module customers and their order volumes grow, our ability to select quality orders, and hence our profit margins, will improve."
Mr. Gao added, "In addition, the recent developments have been very encouraging for our business which includes the Chinese government's RMB4 trillion stimulus package, the confirmation on the issuance of 3G license and the resumption of 2G network construction investment plans by the operators following the completion of the restructuring of the Chinese telecommunication industry. Moreover, global communications equipment manufacturers continue to increase procurements from China and, as a qualified supplier for the top 3 international base station manufacturers, we will benefit from this continued outsourcing trend. We expect that these factors, taken together, will present ample opportunities in both our base station RF module and our wireless coverage businesses going forward."
About China GrenTech
China GrenTech is a leading developer of radio frequency ("RF") technology and product developer and a leading wireless coverage product and services provider in China. The Company uses RF technology to develop and manufacture wireless coverage products, which enable telecommunication operators to expand the reach of their wireless communication networks both indoors and outdoors, including buildings, highways, railways, tunnels and remote regions. China GrenTech provides wireless coverage services, including the design, installation and warranty services for its coverage products.
Based on its in-house RF technology platform, the Company also develops and produces base station RF modules sold to base station manufacturers. China GrenTech is a qualified supplier of RF modules to several major base station manufacturers and the major supplier of RF modules for Huawei Technologies and ZTE Corporation. For more information, please visit http://www.grentech.com.cn .
For more information, please contact:
Investor Contact:
Kent Lo, IR Manager
China GrenTech Corp Ltd.
Tel: +86-755-2650-3007
Email: kentlo@grentech.com.cn
Investor Relations (US):
Delia Cannan
Taylor Rafferty
Tel: +1-212-889-4350
Email: GrenTech@Taylor-Rafferty.com
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Email: GrenTech@Taylor-Rafferty.com
Media Contact:
Jason Marshall
Taylor Rafferty
Tel: +1-212-889-4350
Email: GrenTech@Taylor-Rafferty.com
