XNET--this one could be ready to make another move off of NWLL. Xnet is already a active isp in Beijing and Shenghei and also has nice b2b news out today.
Xin Net B2B E-Commerce Grows
(PR Newswire 01/04 09:11:44)
VANCOUVER, British Columbia, Jan. 4 /PRNewswire/ -- XIN NET CORP.
OTC Bulletin Board: "XNET"
Xin Net Corp. is pleased to announce the following corporate
developments:
A. Preliminary agreements in the form of Letters of Intent have been
signed with:
(1) Beijing San Jie Heng An Technology Company Ltd. ("San Jie"). San
Jie is a major computer and computer supplies distributor and the
exclusive agent for Samsung monitors and LG optical drives (both
large Korean conglomerates) for the North China region. San Jie has
offices in several major cities in the region and supplies to over
one hundred retailers. San Jie currently has annual sales of
400 million Renminbi (US$50 million).
(2) Guangdong Xin Na Te Electronics Company Ltd. ("Xin Na Te"). Xin Na
Te is a major computer hardware distributor of LG monitors and
optical drives for the South China million).
Under the terms of the Letters of Intent, both San Jie and Xin Na
Te will utilize Xinnet (including ChinaDNS and XinBid) as their
exclusive B2B E-commerce platform and pay a commission on e-sales.
The platform covers the functions of online catalogue, ordering,
transaction, inventory, and accounting, etc. E-commerce in China is
still at its infancy, but both companies recognize its growing
importance and inevitability. They have chosen Xinnet B2B platform
because of the Company's established position in China's Internet
industry and its proven technical expertise and client services.
B. A Letter of Intent to acquire control of Future Computer
Company Ltd. ("Future") has also been signed. Xin Net Corp. is
performing all the necessary due diligence to finalize an agreement.
Future is an established systems integrator specializing in the
retail sector. It currently counts as its clients major Chinese and
foreign department store chains and shopping malls such as Sogo and
Parkson. Based in Hainan, Future will bring their expertise of the
China retail industry and existing business to the company.
C. There are currently over 120 employees in China, in four major
cities, viz. Beijing, Shanghai, Shenyang and Guangzhou.
The developments announced above, together with the significant
growth of ChinaDNS, will help to establish the Company's B2B
E-commerce, which is a major future direction for the Company.
Xinnet provides Internet access and content (www.xinnet.com.cn),
online domain name registration (www.ChinaDNS.com) and online
auction (www.xinbid.com). It currently operates in Beijing,
Guangzhou, Shanghai and Shenyang and has ISP licenses for six (6)
other Chinese cities. Its subscriber base has presently reached
68,000 (including domain name registrants) and it has approximately
200,000 e-mail accounts.
Any forward-looking statement in this press release is made pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve risks and uncertainties including,
but not limited to, economical and political factors, developments of the
Chinese Internet market and changes in regulatory matters. The Company
disclaims any obligation to update any such factors or to publicly announce
results of any revision to the forward-looking statements contained herein to
reflect future events or developments.
ON BEHALF OF THE BOARD OF DIRECTORS
(Signed)
Marc Hung, President
SOURCE Xin Net Corp.
-0- 01/04/2000
/CONTACT: Marc Hung, President, or Ernest Cheung, Director, both of Xin
Net Corp., 604-632-9638, or fax, 604-689-7654, or investors@xinnet.net/
/Web site: xinnet.net
(XNET)
CO: Xin Net Corp.; Beijing San Jie Heng An Technology;
Guangdong Xin Na Te Electronics; Future Computer Company Ltd.
ST: China, British Columbia
IN: MLM CPR
SU: TNM
S.PN XNET |
