SHENZHEN, China, Sept. 11 /Xinhua-PRNewswire-FirstCall/ -- China GrenTech Corporation Limited (Nasdaq: GRRF; "the Company" or "GrenTech"), a leading China based RF technology and product developer and a leading provider of wireless coverage products and services, today announced that it won a bid from the largest domestic base station equipment manufacturers for the procurement of RF parts and components during the second half of 2007. GrenTech obtained the largest share of the overall arrangement and will provide CDMA and WCDMA filters for this customer.
Bidding from domestic base station equipment manufacturers for RF parts and components typically occurs every six months. The contract is subject to a Non-Disclosure Agreement ("NDA") which prevents China GrenTech from disclosing the name of the customer. This was GrenTech's second contract win from this base station equipment manufacturer; the Company first obtained orders from this customer at the end of first quarter of 2007.
Mr. Yingjie Gao, Chairman and Chief Executive Officer commented, "GrenTech is dedicated to the research and development of RF technology, and has accumulated extensive experience in the development of RF technology. We own many registered patents, including a low-cost production patent. Our technology leadership not only enables us to keep an integrated business model to develop, design and manufacture base station RF parts and components, but also to maintain our leading profit margins."
Mr. Gao continued, "As more global base station equipment manufacturers start to procure base station RF parts and components in China, and domestic base station equipment manufacturers like Huawei and ZTE 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 suppliers that have a comprehensive strength in RF technology and product development, such as GrenTech."
"Leveraging our leadership in RF technology, GrenTech developed our wireless coverage business as the first stage of our strategic development; now, the Company is in the second stage of its strategic development, which is to grow our base station RF business. The Company has the largest RF research and development team in China, and is the fastest growing RF module supplier with the most compelling comprehensive strength. Now the Company is currently a qualified supplier of RF parts and components to major domestic and global base station equipment manufacturers, and can develop and manufacture different types of base station RF parts and components for customers. The order quantity obtained this time is larger than that of the first half of the year, indicating our progress toward achieving our goal of quickly growing our base station RF business for this year," Mr. Gao concluded.
About China GrenTech Corporation Limited
GrenTech is a leading radio frequency ("RF") technology and product developer and a leading provider of wireless coverage products and services to telecommunication operators in China. The Company uses RF technology to design and manufacture wireless coverage products, which enable telecommunication operators to expand the reach of their wireless communication networks to indoor and outdoor areas, such as buildings, highways, railways, tunnels and remote regions.
Based on its in-house RF technology platform, the Company also develops and produces base station RF parts and components sold to base station equipment manufacturers. China GrenTech is a qualified supplier of RF parts and components to six major base station equipment manufacturers such as Huawei Technologies, ZTE, Datang Mobile, etc. For more information, please visit our website at http://www.grentech.com.cn .
For more information, please contact:
Investor Contact:
Dora Li, IR Director
China GrenTech Corp Ltd.
Tel: +86-755-8350-1796
Email: lidongmei@powercn.com
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Email: GrenTech@Taylor-Rafferty.com
Investor Relations (US):
Delia Cannan
Taylor Rafferty
Tel: +1-212-889-4350
Email: GrenTech@Taylor-Rafferty.com
Media Contact:
John Dooley
Taylor Rafferty
Tel: +1-212-889-4350
Email: GrenTech@Taylor-Rafferty.com
