Someone get me a tissue. I was drinking coffee and read the release and blew the coffee right out of my nose from laughing so hard.
Hartcourt Subsidiary and Microsoft Form Alliance to Jointly DeliverE-Finance Solutions
Strategic Partnership Will Offer Advanced Products and Technical Services
Targeted to China's Financial Industry
LOS ANGELES, Dec. 14 /PRNewswire/ -- The Hartcourt Companies Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com, today announced the formation of a strategic partnership alliance between UAC E-Commerce Networks, a Hartcourt subsidiary, and Microsoft (China) Co., Ltd. to deliver solutions and Internet applications for the financial industry in China based on Microsoft's network architecture and platform. Beijing UAC E-Commerce Networks, also known as UAC Stock Trading Online, is a Sinobull Financial Group (www.sinobull.com.cn) subsidiary whose controlling shareholder is Hartcourt.
The strategic alliance calls for UAC and Microsoft (China) to offer turn-key E-Finance solutions on a revenue sharing basis and to engage in cooperative efforts relating to product development, marketing, sales and service throughout China. Both parties will utilize their respective technology and marketing expertise to provide advanced comprehensive solutions and technical services to clients within China's financial industry including Windows NT based solutions, Pocket PC networks, and wireless stock trading platforms. Microsoft (China) Co., Ltd. (www.microsoft.com/China/) is the China unit of Microsoft Corporation (Nasdaq: MSFT).
Mr. Zhong Tian, Strategic Partner Manager of Microsoft (China) said, "Microsoft (China) will provide its support to Sinobull Financial Group in developing applications and sales within the Chinese financial industry utilizing Microsoft's network platform and other technologies. We will also assign the necessary manpower, services, and technical resources needed to assure that this alliance can be successful in delivering E-Commerce solutions to Chinese clients."
Dr. Charlie Q. Yang, CEO of Hartcourt commented, "We have been developing E-Finance applications based on Microsoft's architecture and platform for China's banking and securities firms for the past eleven months. This new alliance will give us the opportunity to work closely with Microsoft personnel during the proposal and implementation phase of new business development and as a strategic partner we intend to assist Microsoft in becoming the preferred platform supplier of this fast growing segment of the Chinese economy."
About UAC E-Commerce Networks
UAC E-Commerce is an integral part of the Hartcourt collaborative SinoBull Financial Group (www.SinoBull.com.cn), which provides secure online and wireless stock trading technology, Virtual Private Network (VPN) services, financial industry content, and additional financial transaction technology services. In a nationwide survey by China Security Times, SinoBull.com.cn ranked 1st in unaffiliated financial web sites and 4th overall for the financial sector which included securities and banking corporations (11/10/00, market.p5w.net. In addition, the SinoBull Financial Group is in the process of developing a 24hr Financial TV Channel with China Cable Networks (CCN), which will serve as a platform to showcase SinoBull products and services.
About The SinoBull Financial Group
SinoBull Financial Group, a Hartcourt subsidiary, is a financial technology developer and Internet service provider. SinoBull's operating companies include: Beijing UAC E-Commerce Networks, Shanghai Guo Mao Science & Technology, SinoBull Network Technology (formerly Shangdi Networks), and Financial Telecom Ltd. In addition to quality financial news, real-time market data, financial analysis and commentary via the SinoBull portal, www.sinobull.com.cn, the SinoBull platform enables brokerage firms to provide their clients with the ability to securely trade securities online. The company's E-Finance platform is an integration of the most advanced Internet, telecommunication and wireless access systems available on the market today. The service platform and collateral content is offered via subscription to leading securities brokerages, investment firms, banks, as well as media companies throughout Greater China.
About Hartcourt
The Hartcourt Companies is a holding and development company that is building a network of Internet and telecommunication service companies in The People's Republic of China (China), including Hong Kong, in partnership with Chinese entrepreneurs as well as Chinese government-owned entities. Hartcourt's business goal over the next three years is to complete a series of IPOs or spin-offs focused on four main divisions: StreamingAsia, the streaming content (video/audio) web-casting and web hosting leader in Hong Kong; SinoBull Financial Group, the multi-media financial data provider and online securities trading platform; the Broadband ISP and Internet Infrastructure Group; and Hartcourt Capital Inc., the financial E-Finance transactions platform offering online banking, securities, insurance, equipment leasing, credit, and B2B transaction settlements. Detailed information on Hartcourt can be obtained via the company's Web site, www.hartcourt.com.
Forward-looking statements
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.
SOURCE The Hartcourt Companies, Inc.
CO: Hartcourt Companies, Inc.; Microsoft Corporation; UAC E-Commerce Networks; Microsoft (China) Co., Ltd.; Sinobull Financial Group; UAC Stock Trading Online
ST: California, China, Washington
IN: MLM FIN
SU: JVN
12/14/2000 08:00 EST prnewswire.com |
