HRCT looks interesting. Could make a nice complement to my other China net play MYWB:
Hartcourt Acquires 35% of China's First Online Trading Co.
PR Newswire - June 29, 1999 13:47
LOS ANGELES, June 29 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT) today announced that it has agreed to acquire 35 percent of UAC Stock Exchange On-Line Co Ltd. UAC operates the first and the only nationwide online trading network in China. UAC 162 Network is a private, virtual, secure communication and computer network system connecting investors to brokerage firms around the country. UAC162 Network runs on CHINAPAC, an intranet of packet switched data network owned by China Telecom.
UAC system has been operating at one office of Hua Xia Securities in Beijing and the results are excellent, in terms of technology as well as financial. Hua Xia Securities, the second-largest brokerage firm in China, has signed an agreement to install the UAC system in all of its 98 offices nationwide. As the first and only CHINAPAC operating agent designated by China Telecom, UAC is in a unique position to market UAC 162 Network to all brokerage firms in China. At present, there are 4,000 brokerage offices in China serving 40 Million investors. UAC's mission is to quickly capture as much market share as possible. Total revenue, excluding the TV set-top box users segment, is projected to exceed $40 Million by 2004, producing an annual net earning of $18 Million.
Twick
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