Wednesday February 14, 7:35 am Eastern Time
Press Release
SOURCE: The Hartcourt Companies, Inc.
FinTel Wireless Internet to Offer Personal Financial Data and Trade Executions To Expanded Wireless Network in Hong Kong
SinoBull Financial Information Prepares to Extend New Network Into China
LOS ANGELES, Feb. 14 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), (www.hartcourt.com) announced today that FinTel Wireless Internet Limited has signed an agreement with Asia Paging for the full conversion of Asia Paging's financial subscriber base to SinoBull's Wireless Financial Information Services. The conversion process will migrate subscribers from their existing flat wireless data feeds to interactive wireless financial services via PDA (Personal Digital Assistant) and bi-directional pagers. Completion of the conversion of this subscriber base is expected by the end of March 2001. FinTel Wireless Internet is a wholly- owned subsidiary of Financial Telecom Limited, a member of the SinoBull Financial Group which is 51% owned by Hartcourt.
Mr. Stephen Tang, CEO of Financial Telecom Limited (FTL) stated, ``Upon completion of this conversion, FinTel Wireless Internet will become one of the leading providers in the field of wireless financial data services in Hong Kong based on the number of subscribers. Those subscribing to this new service will pay US $30 per month to receive personal and real time financial data as well as the ability to access trades executed on Hong Kong markets.
``FTL is working together with SinoBull Financial Information (Guo Mao), another SinoBull company based in Shanghai, to launch a similar service in China. We believe that this service will be ready by the 3rd quarter of 2001. SinoBull Financial Information is China's leader in providing financial information on commodities and precious metal markets to a wide audience of institutional and high net worth individual investors. Working with Wind Info, which is 30% held by Hartcourt, this collaborative effort will also have access to some of the most highly valued equities research in China.''
Financial Telecom produces the SinoBull Wireless PDA product, an advanced investment assistant equipped with the SEHK's (Stock Exchange of Hong Kong) 3rd generation AMS3 standard, providing order status, settlement results, real-time stock quotes, futures, currency exchange, and latest global financial news. The SinoBull PDA uses an advanced FLEX transmission network, which provides the fastest financial paging service in the Hong Kong market. The next generation of the SinoBull PDA is expected to be ready by the middle of 2001, and will include a touch-screen keyboard, larger memory size and other more advance functions.
Since its launch in October 2000, SinoBull Wireless Financial Information Services has experienced wide popular appeal, and expanded its consumer base through direct marketing and development agreements with existing networks. Asia Paging maintains a network that includes 83 transmitters for comprehensive coverage throughout Hong Kong and will participate in a revenue sharing arrangement with FTL for two years in exchange for transferring its subscribers to FinTel Wireless Ltd.
About The SinoBull Financial Group
SinoBull Group, which is 51% owned by Hartcourt, is a financial technology developer and Internet service provider. SinoBull's subsidiaries include: Beijing UAC Stock Exchange Online, SinoBull Financial Information Networks (Guo Mao), SinoBull Network Technology (formerly Shangdi Networks), and Financial Telecom Ltd. In addition to quality financial news, real-time market data, financial analysis and commentary via the SinoBull portal, www.sinobull.com.cn the SinoBull platform enables Chinese brokerage firms to provide their clients with the ability to trade securities online. The company's E-Finance platform is an integration of the most advanced Internet, telecommunication and wireless access systems available on the market today. The service platform and collateral content is offered via subscription to leading securities brokerages, investment firms, banks, as well as media companies throughout Greater China.
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: the streaming content (video/audio) web-casting and web hosting group based 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 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.
Press Release
SOURCE: The Hartcourt Companies, Inc.
FinTel Wireless Internet to Offer Personal Financial Data and Trade Executions To Expanded Wireless Network in Hong Kong
SinoBull Financial Information Prepares to Extend New Network Into China
LOS ANGELES, Feb. 14 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), (www.hartcourt.com) announced today that FinTel Wireless Internet Limited has signed an agreement with Asia Paging for the full conversion of Asia Paging's financial subscriber base to SinoBull's Wireless Financial Information Services. The conversion process will migrate subscribers from their existing flat wireless data feeds to interactive wireless financial services via PDA (Personal Digital Assistant) and bi-directional pagers. Completion of the conversion of this subscriber base is expected by the end of March 2001. FinTel Wireless Internet is a wholly- owned subsidiary of Financial Telecom Limited, a member of the SinoBull Financial Group which is 51% owned by Hartcourt.
Mr. Stephen Tang, CEO of Financial Telecom Limited (FTL) stated, ``Upon completion of this conversion, FinTel Wireless Internet will become one of the leading providers in the field of wireless financial data services in Hong Kong based on the number of subscribers. Those subscribing to this new service will pay US $30 per month to receive personal and real time financial data as well as the ability to access trades executed on Hong Kong markets.
``FTL is working together with SinoBull Financial Information (Guo Mao), another SinoBull company based in Shanghai, to launch a similar service in China. We believe that this service will be ready by the 3rd quarter of 2001. SinoBull Financial Information is China's leader in providing financial information on commodities and precious metal markets to a wide audience of institutional and high net worth individual investors. Working with Wind Info, which is 30% held by Hartcourt, this collaborative effort will also have access to some of the most highly valued equities research in China.''
Financial Telecom produces the SinoBull Wireless PDA product, an advanced investment assistant equipped with the SEHK's (Stock Exchange of Hong Kong) 3rd generation AMS3 standard, providing order status, settlement results, real-time stock quotes, futures, currency exchange, and latest global financial news. The SinoBull PDA uses an advanced FLEX transmission network, which provides the fastest financial paging service in the Hong Kong market. The next generation of the SinoBull PDA is expected to be ready by the middle of 2001, and will include a touch-screen keyboard, larger memory size and other more advance functions.
Since its launch in October 2000, SinoBull Wireless Financial Information Services has experienced wide popular appeal, and expanded its consumer base through direct marketing and development agreements with existing networks. Asia Paging maintains a network that includes 83 transmitters for comprehensive coverage throughout Hong Kong and will participate in a revenue sharing arrangement with FTL for two years in exchange for transferring its subscribers to FinTel Wireless Ltd.
About The SinoBull Financial Group
SinoBull Group, which is 51% owned by Hartcourt, is a financial technology developer and Internet service provider. SinoBull's subsidiaries include: Beijing UAC Stock Exchange Online, SinoBull Financial Information Networks (Guo Mao), SinoBull Network Technology (formerly Shangdi Networks), and Financial Telecom Ltd. In addition to quality financial news, real-time market data, financial analysis and commentary via the SinoBull portal, www.sinobull.com.cn the SinoBull platform enables Chinese brokerage firms to provide their clients with the ability to trade securities online. The company's E-Finance platform is an integration of the most advanced Internet, telecommunication and wireless access systems available on the market today. The service platform and collateral content is offered via subscription to leading securities brokerages, investment firms, banks, as well as media companies throughout Greater China.
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: the streaming content (video/audio) web-casting and web hosting group based 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 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.
