Subj: STOCK ALERT: HRCT-$1- China's First Online Stock Exchange!
Date: 7/9/99 1:16:21 PM Eastern Daylight Time
From: Editor@wallstreetwest.com (Wall Street West)
Reply-to: West@aol.com (Wall Street)
To: Editor@wallstreetwest.com (Wall Street West Newswire)
Hartcourt Companies, Inc. (OTCBB:HRCT:$1)
We just bought in, as the stock seems to be under heavy accumulation this morning. We saw an 85,000 share purchase moments ago. Here is the story on what could be the most EXPLOSIVE stock since Digitcom of last year (runup from .40 to $8). Our target is $2 to $3 in the short term. Here is the story:
HRCT is a holding company that manufactures and develops environmental control systems and industrial process equipment, and specializes in the manufacture and assembly of printed circuit boards, telephone wire and cabling, and coil winding and plastic injection. The following information comes from the latest HRCT press releases:
HRCT recently announced that they have agreed to acquire 35% of China's very first ONLINE TRADING SYSTEM (UAC). 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.
Dr. Alan Phan, Chairman and CEO of Hartcourt, confirmed that Hartcourt has signed agreements to joint venture with 3 Internet companies in China, including a national Internet Service Provider. Besides this announcement, Hartcourt will issue releases on the other two, once the Chinese parties approve the text. He said, ''We set our goal last year to become a major Internet company in China. With the completion of these three acquisitions, our goal is fast becoming a reality. With its technology and infrastructure, UAC has positioned itself to become the first and major E-trade in China. Its potential is mind-boggling, considering China stock market is already bigger than the Hong Kong stock market. In my personal opinion, UAC is ready to become another world-class online stock trading company, comparable to those household names in America.''
Mr. Shi Zhang, Chairman and President of UAC, agreed: ''China's stock market is growing very fast. To quickly capture the market share and better serve the investment community, we decided to team up with a foreign partner to access the latest technology and world capital markets. Hartcourt is our choice because they have been working on many China projects since 1979, giving them a good understanding of our system, culture and potential. Together, we should meet the projection of our business plan quite easily.''
The transaction is scheduled to close within the next 60 days. Hartcourt has the option to increase its 35% holding, should the Chinese government change its policy regarding foreign ownership in telecommunication companies, once China is admitted to the World Trade Organization (WTO).
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