surfer44
5 years ago
With a marketcap of $3.5 Million this company made a loan of about $60 Million with a 10% interest rate and a 15% equity kicker. Gotta love it!
Techfaith Invested in a Real Estate Development Project in Nanjing China.
Beijing, China, August 2, 2019 — China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) (“TechFaith” or the “Company”), today announced that through a series of negotiation and agreements since December 2018, it made an investment into a real estate development project in Nanjing, China. Techfaith extended a five-year RMB400 million loan, with an interest rate of 10% per annum, to and obtained a 15% equity interest in such project company.
The project company acquired land use right of approximately 90,000 square meters, with plans to acquire additional lands to build real estate properties of more than 500,000 square meters in Nanjing, China. The loan received from Techfaith is solely for the purpose of project construction and development.
realfast95
10 years ago
of interest industry - Q&A: Behind Huawei’s TRON Game Console Project
China’s video game market is coming under the spotlight as the government has lifted its 13-year ban on sales of dedicated game consoles.
Tron video gaming device by Huawei
Huawei
Last week, Chinese telecommunications equipment supplier Huawei Technologies stole some of that spotlight by unveiling its first game console at the Consumer Electronics Show in Las Vegas.
Huawei’s TRON is the latest addition to the increasing number of home game consoles that run on Google’s Android, a category defined earlier by U.S. startup Ouya and others. The cylindrical-shaped TRON comes with Nvidia Corp.NVDA -2.35%’s Tegra 4 processor and connects with a controller via Bluetooth technology.
In an interview with The Wall Street Journal, David Yao, the TRON project manager at Huawei, talked about the new console and how the company views the future of gaming in China. While online games played on PCs, such as those provided by Chinese Internet giant Tencent HoldingsTCEHY -1.71%, are the mainstream in China, Huawei reckons that many Chinese families would play games in living rooms if they had inexpensive consoles. Edited excerpts:
WSJ: Why did Huawei develop TRON?
Yao: We came up with the concept of a game console at the end of 2012. We then created a development team with about 60 people working on hardware and software. Huawei has invested roughly 30 million yuan ($5 million) to develop the console, and that doesn’t include the additional investment on game software.
We think it’s a big opportunity. In China there are about 400 million people who play video games. Today, online PC games account for the majority of that population, but we believe that some of those people will move to the living room to play games on a larger, higher-definition screen with a better sound system. And there will also be a shift from single-player games to more family-oriented games.
WSJ: When will Huawei release the TRON and how much will it cost? Will it be available outside China?
Yao: The launch will be in the second quarter, but we don’t have an exact date yet. The initial market will be just China. We are still evaluating markets outside China, but we are not sure in which overseas market we may release it. The TRON’s target retail price in China will be below 1,000 yuan ($165).
WSJ: Will you have enough content providers for the TRON?
Yao: Including video content and game software developers, we are already working with more than 50 partners. At the launch in the second quarter, we expect to have more than 20 software titles available for the TRON. After we showcased the TRON at CES last week, more foreign game developers have contacted us to discuss partnerships.
WSJ: How was the TRON project affected by the Chinese government’s decision to lift its ban on game consoles?
Yao: Actually the Tron wouldn’t have been subject to the console ban. We could have sold it even before the ban was lifted, because the TRON is a multi-purpose home entertainment device for watching videos and listening to the music, and gaming is just one of its functions. The ban applied to consoles that were more dedicated to games.
Even so, now that the ban has been lifted, there is more attention on the game console market in China. And in our marketing, we are also emphasizing the gaming aspect of the TRON.
WSJ: If foreign game consoles enter the Chinese market after the ban, how will TRON compete?
Yao: Nintendo, Sony and Microsoft are all very professional companies that have been making dedicated consoles for years. But not all Chinese are rich enough to afford the consoles from those companies. Some families may not need the extreme gaming experiences offered by high-end consoles. With TRON, we are providing an affordable product with acceptable quality. We think the majority of Chinese families could be potential customers. Our market research findings show that there are three kinds of game players in China. The first kind is people who have been playing with dedicated consoles even though they were banned. They have found ways to get hold of those consoles from markets outside China, and they can afford the foreign consoles. The second type is the online game players who use their PCs. And the third kind is people who mainly play mobile games. We believe that people who play PC games and mobile games could be the main customers for the TRON.
WSJ: Huawei has branched outside telecom equipment to sell consumer products like smartphones. How does the TRON fit into your strategy?
Yao: Huawei has been trying to combine services with devices. And the TRON is a good way to integrate a device with cloud-based content. Being in the video game market will also help Huawei become a more recognized consumer brand in China.
http://blogs.wsj.com/digits/2014/01/14/qa-behind-huaweis-tron-game-console-project/
INFGFX
10 years ago
TechFaith Launches 5th Generation Ruggedized Smart Phone; January Shipments Scheduled for Europe and the Middle East
BEIJING, Jan. 7, 2014 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced the launch of its 5th generation ruggedized Android smart phone, "Thunder", with late January shipments scheduled for Europe and the Middle East for both the retail and enterprise segments.
"Thunder" is TechFaith's 5th generation ruggedized smart phone model and is certified with IP68 and MIL-S810G standards. Thunder features a vivid 4.5 inch LCD screen with 2nd generation gorilla glass. Thunder was designed with a powerful quad core CPU, able to operate in extreme temperatures, comes pre-loaded with value-added outdoor applications and supports dual SIM dual standby.
Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "We are very proud to launch our 5th generation ruggedized smart phone. Thunder represents the best innovations from our prior models along with some exiting new features. Importantly, we designed Thunder with all the rugged toughness users loved in our earlier Titan and Giant models, but it has an enhanced, slimmer, sleeker form factor. We are optimistic about the market opportunity for Thunder given its tailored feature set and targeted design. We continue to view these value added, niche domestic and international handset segments as sustainable."
For more information on Thunder please visit www.techfaithwireless.com.
HIM
11 years ago
China TechFaith Could Benefit From The New Free Trade Zone
Seeking Alpha article:
http://seekingalpha.com/article/1719982-china-techfaith-could-benefit-from-the-new-free-trade-zone
Sep 30 2013, 05:48 | about: CNTF
Disclosure: I am long CNTF. (More...)
There was news on September 27 that China will end a 13-year ban on sales of video game consoles.
In a statement issued on Friday, the State Council of China said it will open up the market to foreign companies that have established production and sales operations within the free trade zone. The Shanghai free-trade zone is expected to officially open on October 1.
Sales of video games and consoles were banned in 2000 over fears that they are harmful for the mental and physical development of children.
John Sheehy, private investor, asked the following question during the China TechFaith (CNTF) second quarter earnings call on August 20:
I would also like to ask about the patent portfolio you have in the gaming business. There's been some news that up until now sale of game consoles like Xbox, Wii and PlayStation has been banned in China, but that sales will be permitted if the consoles are constructed in the new free trade area in Shanghai? And I was wondering can those products be sold in China without accessing some of the patents that you have.
Jay Ji, Senior Vice President at TechFaith, gave the following answer:
First, we heard this news back a couple of days ago. So this kind of information we are not sure when it's going to happen. In case if it is going to happen, we have our own patents. We are going to protect us. We are going to use our patent to -- as a weapon to protect us as well in future. We keep that in mind.
This free trade zone has now been officially announced by the State Council of China and is expected to officially open on October 1. China TechFaith owns the patents that are needed to sell the video games consoles in China.
The news boosted shares of Microsoft (MSFT), the maker of Xbox, by 1.5% on Friday. Sony (SNE), the maker of PlayStation, and Nintendo (NTDOY.PK) were flat on Friday. The big winner was China TechFaith that saw its shares rise by 12.80% on Friday.
Financials
TechFaith reported the second-quarter financial results on August 20 with the following highlights:
Revenue $30.2 million
Net loss $1.0 million
Cash $257.7 million
Debt $15.6 million
Net cash $242.1 million
Net cash per share $4.57
Outlook
TechFaith currently expects total revenues for the third quarter of 2013 to be in the range of $29.0 million to $33.0 million.
Conclusion
The Friday's news concerning the new free trade zone could be a game changer for TechFaith. It means that Microsoft, Sony and Nintendo would be forced into a licensing deal with TechFaith before they can start selling their consoles in China. The licensing deal could be worth hundreds of millions for TechFaith based on the size of the Chinese gaming market of more than $9 billion in 2012.
TechFaith's directors and executive officers as a group beneficially own 32.1% ordinary shares of the company, of which Mr. Defu Dong, TechFaith's Chairman and Chief Executive Officer, beneficially owns 254,695,000 ordinary shares constituting approximately 32.1% of total issued and outstanding shares.
TechFaith has a book value of $5.87 per share and the company has a net cash position of $4.57 per share. I believe the stock could be a good pick below the net cash position of $4.57 per share.
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