BEIJING, Jan. 23 /PRNewswire-Asia-FirstCall/ -- Qiao Xing Mobile
Communication Co., Ltd. (the "Company") (NYSE: QXM), one of China's leading
domestic manufacturers of mobile handsets operating its business primarily
through its subsidiary, CEC Telecom Co., Ltd., today announced a revised
guidance for the fourth quarter of 2008. Due to the economic slowdown in
China, the Company currently expects its revenue and operating profit for the
fourth quarter of 2008 to be lower than the same period of 2007. However, the
Company expects to remain profitable at the operating level during the fourth
quarter 2008.
About Qiao Xing Mobile Communication Co., Ltd.:
Qiao Xing Mobile Communication Co., Ltd. is one of the leading domestic
manufacturers of mobile handsets in China in terms of unit sales volume. The
Company manufactures and sells mobile handsets based primarily on Global
System for Mobile Communications, or GSM, global cellular technologies. It
operates its business primarily through CEC Telecom Co., Ltd., or CECT, its
96.6%-owned subsidiary in China. Currently, all of its products are sold
under the "CECT" and "VEVA" brands. Through its manufacturing facility in
Huizhou, Guangdong Province, China, and two research and development centers
in Huizhou and Beijing, the Company develops, produces and markets a wide
range of mobile handsets, with increasing focus on differentiated products
that generally generate higher profit margins. For more information, please
visit http://www.qxmc.com .
Safe Harbor Statement
This announcement contains forward-looking statements, as defined in the
safe harbor provisions of the U.S. Private Securities Litigation Reform Act of
1995. In some cases, these forward-looking statements can be identified by
words or phrases such as ''aim,'' ''anticipate,'' ''believe,'' ''continue,''
''estimate,'' ''expect,'' ''intend,'' ''is /are likely to,'' ''may,''
''plan,'' ''potential,'' ''will'' or other similar expressions. Statements
that are not historical facts, including statements about Qiao Xing Mobile's
beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of factors
could cause actual results to differ materially from those contained in any
forward-looking statement. Information regarding these factors is included in
our filings with the Securities and Exchange Commission. Qiao Xing Mobile
does not undertake any obligation to update any forward-looking statement,
except as required under applicable law. All information provided in this
press release is as of January 23, 2009, and Qiao Xing Mobile undertakes no
duty to update such information, except as required under applicable law.
For more information, please contact:
Ma Tao
Qiao Xing Mobile Communication Co., Ltd.
Tel: +86-10-6250-1706
Email: matao@cectelecom.com
SOURCE Qiao Xing Mobile Communication Co., Ltd.