The Hartcourt Companies: Hua Xia Info Launched Online-Trading Set Top
Boxes With Microsoft and Legend as Partners
LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 14, 2000--The Hartcourt Companies Inc. (OTC: HRCT) (Frankfurt:HCT.),
www.hartcourt.com, today announced that its Chinese partner in Sinobull.com, Hua Xia Info, has launched a revolutionary set top
box which will allow users to trade online, in addition to providing Internet access.
The product was developed in partnership with Legend, the biggest computer maker in China, and Microsoft (Nasdaq: MSFT), the
world's largest software company.
The launch was organized in Beijing on Tuesday, Jan. 12, with attendance from all major news organizations. The new set top
boxes will retail for less than $150, a great competitive price in comparison with a computer. China has 80 million cable subscribers
versus 20 million computer owners. The average monthly rate of $3 for cable will make its connection much cheaper than a
regular Internet ISP.
The cable will be connected to all Hua Xia Securities brokerage networks and will run on a trading system developed by UAC
Stock Trading Online. China Telecom will cooperate by providing a much lower rate.
Microsoft chairman Bill Gates said its joint venture with Legend offered huge potential. In March 1999, he said: "Our goal is a very
aggressive goal and that is to introduce millions and millions of people to computers and to the Internet."
Dr. Alan Phan, Chairman & CEO of Hartcourt, said: "We are proud to have a partner like Hua Xia Info. They are innovative,
aggressive and powerful. To have Sinobull.com's home page in front of millions of these set top boxes will do wonders for our
brand name building. It is an exciting landmark achievement for Hartcourt and Sinobull.com.
"All doubts on the ability of Sinobull.com to claim the first position in the financial portal of Chinese Internet have been erased. We
congratulate Hua Xia Info and Shangdi Network for a job well done."
In 1999, Hartcourt announced the formation of its subsidiary, Sinobull.com, which is composed of UAC, the first national stock
trading network; Shangdi Network, the premier financial data provider in China and part-owner of Hua Xia Info; Financial
Telecom Ltd., the oldest financial data house in Hong Kong; Guo Mao, the best commodities and futures data provider in Shanghai;
and the popular Web designer and software engineering group, StreamingAsia.com in Hong Kong.
Sinobull is set to IPO in the second quarter of 2000. Hartcourt, like Chinadotcom (Nasdaq: CHINA), is one of the first American
companies to establish a strong foothold in the Chinese Internet industry.
Certain statements in this news release may constitute "forward-looking" statements within the meaning of Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors, which may cause
the actual results, performance or achievement expressed or implied by such forward-looking statements to differ materially from
the forward-looking statements.
Contact:
The Hartcourt Companies Inc., Long Beach
Dr. Alan V. Phan, 562/426-9796 |
