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To: ---------- who wrote (1496)	3/31/1998 3:03:00 AM
From: Tom	Respond to of 2951

Doug: I agree, fully. More later.

To: ---------- who wrote (1496)	3/31/1998 5:49:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 2951

Doug: this is from today's China Daily: Great Wall branches into Shenzhen shares CHINESE computer giant Great Wall Group launched the Great Wall Technology Co Ltd last week in Shenzhen. The newly-formed company will issue H shares and seek listing on the Stock Exchange of Hong Kong. The company is one of the candidates selected by the China Securities Regulatory Commission to list shares overseas. The business of Great Wall Technology Co Ltd, which has a total registered capital of 743.87 million yuan (US$89.62 million), will comprise computer hardware, software and components, and network equipment and communication systems, according to the group's statement issued last week. The company was launched after assets restructuring among three powerful high-tech companies in Shenzhen: the Shenzhen Development Magnet Recording Co Ltd, the A-share listed Shenzhen Development Technology Co Ltd and the China Great Wall Computer Shenzhen Co Ltd. The statement said the Great Wall Group, which has its headquarters in Beijing, took over the corporate shares of Shenzhen Development Technology from the China Electronic Information Industrial Group Co, the State-owned Jiannan Machinery Factory and a Hong Kong company. The purchased shares, along with the 6.17 per cent of Shenzhen Development Technology shares originally owned by the Great Wall Group, were taken as the initial investment of the Great Wall Group into the new company. The Great Wall Group also invested its stake in Shenzhen Development Magnet Recording Co Ltd in the new company. After its establishment, the Great Wall Technology Co Ltd now owns 59.41 per cent of the stake of Shenzhen Development Technology, 64.05 per cent of the Great Wall Computer Co Ltd and 51 per cent of the Shenzhen Development Magnet Recording Co Ltd. Wang Zi, chairman of the Great Wall Group, said he believed that the assets restructuring of the three companies represented a win-win co-operative effort which will benefit not only the development of the Great Wall Group but also the two A-share listed companies. Shenzhen Development Technology, a market leader on the Shenzhen Stock Exchange, posted 1.77 billion yuan (US$213.2 million) of revenue and 318.9 million yuan (US$38.4 million) in net profits last year. Established in 1986, the Great Wall Group is one of China's leading computer producers. It has a registered capital of 110 million yuan (US$13.25 million). (CD News) ------------------------------------------------------------------------ Date: 03/31/98 Author: Copyrightc by China Daily