CORPORATE PROFILE
The Hartcourt Companies, Inc. was incorporated in the State of Utah, on September 12th, 1983. Presently, the company
engages in the manufacturing of various products, including cables , electronic components, printed circuit boards,
industrial equipments, pollution control systems, writing instruments etc... In addition, Hartcourt is also involved in the
development of a large-scale real estate project in Beijing, China.
From a modest equity base of $1,404,870. in December 1985, the company equity has expanded into a total net worth of
$40,351,781. as of October 1997. This rapid growth within the last 22 months has created a great deal of enthusiasm
among shareholders and affirmed their confidence in management's strategy and capabilities.
The corporate objective of Hartcourt is to continue this growth pattern, focusing on manufacturing industries with
specialized markets, state of the art technology giving it the competitive edge on a global market. Hartcourt's operations are
carried out through three of its subsidaries: ECS for electronic components, PEGO for industrial and environmental
equipment, HARTCOURT PEN for the fine writing instruments.
Electronic Components And Systems, Inc. (ECS) specializes in high-tech contract manufacturing and assembly of printed
circuit boards, phone and cable wires, coil winding and plastic injection. ECS is also a pioneer in the technology of
ball-grid array connection. ECS operates out of 4 facilities, the largest of which is in the maquiladora free trade zone in
Sonora, Mexico. The other three are located in Nogales, Tucson and Chandler, Arizona. Total work force includes 50
employees in the U.S. and 749 in Mexico.
Pego Systems Inc. (PEGO) manufactures, distributes and services custom environmental equipment packages, focusing
primarily on air and gas handling equipment, with 2 facilities in Long Beach and Novato, California. Total work force is 34
employees.
Hartcourt Pen Factory, Inc. (HPF) specializes in the distribution of all types of writing instruments. HPF started by
building a 160,000 sq.ft. state-of-the -art manufacturing plant in Guangdong, China, at a total cost of $11 Million.
Unfortunately, the sale and distribution network could not keep up with the the annual production of 400 Million pens,
causing a big loss in the operation. As a result, HPF sold its holding in the China factory, and now only operates the
warehouse in Artesia, California.
In October 1996, Hartcourt purchased 3 residential towers in a brand new real estate development project known as Peony
Gardens in Beijing, China. The price was $23 Million for 122 condo units totaling 255,000. sq.ft. of rentable space. The
project was delayed by the developer due to internal disputes among the partners, but the completion date should not be later
than September 1998.
Overall, our direction is to grow by acquisitions and to expand our export markets using the good relationships and contacts
we have established over the years with Asia and Eastern Europe. The management is confident that Hartcourt will achieve
its goal of realizing the maximum value for its shareholders within a short period. |
