GUANGZHOU, China, Oct. 26 /Xinhua-PRNewswire/ -- Guangzhou Global Telecom Inc. (OTC Bulletin Board: GZGT), a mobile phone handset and pre-paid calling card distributor and mobile handset value-added services provider in the PRC, announced today that the company has set up a branch in Yingwei, Macau. The Macau branch is engaged in selling mobile phones and mobile phone parts, providing technological value-added services, and engaging in import and export trading business.
With a population of 500,000, Macau has become an international center of business, travel, and finance. According to published statistics, mobile users in Macau reached 600,000 at end of July 2006, which is 120% of total population of the city. The mobile users increased 25% compared to the same period of 2005.
The Macau branch received a capital infusion of $150,000 in August of 2007, giving the branch the ability to grow and expand in Macau Special Administrative Region. For the three months ending September 30, 2007 the Macau Company’s unaudited revenue was $578,618 with net profit of $38,255.
About Guangzhou Global Telecom
Guangzhou Global Telecom, Inc. is a national mobile phone handset and pre-paid calling card distributor and provider of mobile handset value-added services. Maintaining cooperative relationships with China Telecom, China Mobile and China Unicom, the Company seeks to become the largest sales and distribution center of mobile phones, mobile phone parts and prepaid mobile phone cards in China. GTL plans to introduce new software and services through an expanded network of regional and neighborhood service centers, shops and virtual stores. For details, please visit our website at http://www.guangzhouglobaltelecom.com .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People’s Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Paul Yates
Aero Financial, Inc.
Tel: +1-858-481-8022
Email: pyates@aero-financial.com
