With all the WTO buzz about "China plays" these days, here is a true hidden gem -- Tengtu International Corp. (TNTU).
Company forecasts real revenues of $30 million for calendar 2000 from software sales to 12,500 Chinese schools through mandates from the Chinese Ministries of Education and Information Technology. Contracts are being filled right now, with another 60,000 schools in the pipeline.
OTCBB but fully filing, TNTU has fewer than 20 million shares outstanding, so that's $1.50 sales per share from software alone (float about 4 million). TNTU also owns the biggest full-service TV/movie production studio in China. Also has stake in N. American school software vendor headed by former top IBM officer.
Further details on this sleeper below:
About Tengtu International Corp.
Tengtu International Corp., which began operations in 1996, is a developer and distributor of multimedia educational and entertainment software and related services, operating through joint ventures and subsidiaries in the People's Republic of China, Hong Kong and Canada. Actively involved in multimedia product development, domestic production, distribution and OEM bundling, the company is intimately familiar with how business is conducted in China and is prepared to assist world-class companies to share in the benefits of doing business in China.
The company's joint ventures and subsidiaries include 57% owned Tengtu United Electronics Development, Co. Ltd. ("Tengtu United"); wholly owned TIC Beijing Electronics Co., Ltd. ("TIC Beijing"); 44% owned Iconix International, Inc. ("Iconix"); and 55% owned Edsoft Platforms, Inc. ("Edsoft").
About Tengtu United
Tengtu United is currently one of the largest developers of educational software in China. It is the primary operating subsidiary of Tengtu International, as well as of minority (43%) stakeholder Beijing Tengtu Culture & Education Development Co. Ltd. ("Tengtu China"). Tengtu China is the state enterprise created by the Chinese government through China's three largest computer companies to serve as the country's official gateway for all domestic and international educational and entertainment software.
Through its strategic relationships within the highest levels of the Chinese government and software industry, Tengtu United has won assignment of the development and implementation of a comprehensive information technology solution for China's national K-12 educational system, consisting of more than 800,000 schools. It also has been granted the exclusive license to electronically publish educational materials, including converting to electronic format the paper texts of the People's Education Press, the sole source of materials authorized for use in Chinese schools. It is also involved in the licensing and domestic production of all domestically and internationally designed educational software for the Chinese market.
In addition, the company already distributes more than 100 titles of its own electronic books and animated movies and believes that it is positioned to become China's leading educational software publisher.
About TIC Beijing
Wholly owned subsidiary TIC Beijing commenced operations in July 1997. Its primary business is to provide technology services to the entertainment industry in China, focusing on animation and multimedia.
TIC Beijing currently holds a leading position in the domestic movie/TV industry as the only Chinese production company offering a comprehensive range of services such as 2D and 3D animation production, digital integration of visual effects for television/film post-production, TV program packaging, advertisement production and music video editing/synthesis at its studios in Beijing.
About Iconix
Iconix is a Toronto-based company which develops and markets middleware network management software exclusively for the K-12 educational software market worldwide. Iconix's UserNet(TM) product allows non-technical school staff to manage complex computer networks with an easy to use tool set. All computing resources, including personal computers, printers, internet resources, software applications and userfiles can be centrally managed through UserNet(TM), resulting in savings in costs and administrative task time. UserNet(TM) is currently installed on more than 75,000 computers in more than 2,000 schools in the United States, Canada, France, South Africa and China.
About Edsoft
Joint venture Edsoft Platforms was established in July 1999 to market and sell educational software (including products developed by Tengtu United and Iconix) tailored to the educational market in Hong Kong. |
