(PR NEWSWIRE) China Telecom and SinoBull Financial Group Debut New Wireless S
China Telecom and SinoBull Financial Group Debut New Wireless Stock Trading
System at PT/EXPO COMM CHINA 2000
New Solution is First System Enabling Individual Users to Execute Wireless
Stock Trading Over China Telecom's CDPD Network
LOS ANGELES, Nov. 7 /PRNewswire/ -- The Hartcourt Companies Inc.
(OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com, today announced
that its UAC Stock Exchange Online subsidiary and China Telecom-Beijing have
jointly launched the new wireless stock trading system which they recently
debuted at PT/EXPO COMM CHINA 2000, the largest telecommunications/information
technology show in Asia. UAC is a branch of the SinoBull Financial Group.
The wireless stock trading system is based on China Telecom's enhanced
Cellular Digital Packet Data (CDPD) network, which is currently serving six
major cities in China, including Beijing, Shanghai, Guangzhou, Shenzhen,
Xiamen, and Changsha. The solution is the first system allowing individual
end users to access the Internet and execute secure stock trades over a
wireless device connected to China Telecom's CDPD network. Demonstration of
the secure wireless trading system received an enthusiastic response from
attendees of PT/EXPO COMM CHINA 2000. With Internet security currently a top
concern in China, direct routing of wireless transactions over the secure
UAC162 intranet to brokerage offices was very reassuring.
Simon Zhang, President of UAC Stock Exchange Online said, "We expect the
wireless stock trading services offered through our partnership with China
Telecom's CDPD network to provide significant new revenue generating
opportunities in China. SinoBull Financial Group is uniquely positioned to be
a leading provider of wireless Internet financial solutions in this vast and
emerging market."
Charlie Q. Yang, CEO of Hartcourt, commented, "China's wireless markets
are experiencing explosive growth, with mobile phone customers already
numbering over 50 million users. China Telecom has been looking for
opportunities to install overlay networks such as CDPD to more fully utilize
existing cellular networks and offer value-added data services such as the
wireless stock trading solution now available via the SinoBull e-Finance
Platform."
About PT/EXPO COMM CHINA 2000
PT/EXPO COMM CHINA is the largest telecommunications and information
technology show in Asia. Over 640 exhibiting companies from 23 nations took
part in this year's event in Beijing, which attracted over 320,000 attendees
from China, the Pacific Rim and around the world.
About China Telecom
China Telecom is the dominant telecommunications service provider in
China. The Data Communications Bureau (DCB) of China Telecom has established
public data networks including ChinaNet (163), ChinaInfo (169), as well as
ChinaPAC (162) which is utilized by UAC Stock Exchange Online. These
nationwide networks reach over 4,000 cities across China, providing many types
of data services to Chinese customers across the country.
About The SinoBull Financial Group and UAC Stock Exchange Online
SinoBull Financial Group and its subsidiary, UAC Stock Exchange Online, is
a financial services integrator that enables China-based brokerage firms to
provide online stock trading to its customers over SinoBull's secure
nationwide Virtual Private Network UAC162, which is separate from the
Internet. The SinoBull.com portal acts as secure docking station between the
Internet and the UAC162 intranet, providing the best of both worlds (Internet
access by investors to input trade decisions & transactions, delivered and
processed over a secure network to subscribing brokerage offices). SinoBull's
clients are among the leading securities firms in China, including giant China
Securities (Hua Xia Securities, www.csc.com.cn), Guosen Securities
(www.guosen.com.cn), Xiangcai Securities (www.xcsc.com) and Anshan Securities.
SinoBull is recognized as a leader in providing comprehensive financial
information on China's markets by its content distribution relationships with
Yahoo! China (http://cn.yahoo.com/fnews/sinobull), People's Daily, Securities
Daily and other leading distribution channels.
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.
-0- 11/07/2000
/CONTACT: Jack Westfield, Vice President of Corporate Finance of The
Hartcourt Companies, Inc., 310-410-7290, JWestfield@Hartcourt.com/
/Web site: hartcourt.com
(HRCT)
CO: Hartcourt Companies, Inc.; China Telecom; SinoBull Financial Group; UAC
Stock Exchange Online
ST: California, China
IN: MLM TLS
SU: PDT TDS
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