Hartcourt Subsidiary and IBM Form Software Partnership in China
THURSDAY, JANUARY 04, 2001 8:01 AM
LOS ANGELES, Jan 4, 2001 /PRNewswire via COMTEX/ -- The Hartcourt Companies Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com, today announced that its subsidiary, SinoBull Financial Group, has agreed to become an IBM Partner (NYSE: IBM) for Software in China. The agreement entitles SinoBull Financial Group to integrate IBM's best available software technology into SinoBull's e-solutions for the banking and securities industry in China. The partnership was structured to assist SinoBull's efforts in delivering greater value to its customers, including proven ways to cut costs, speed up business processes and software development, and increase productivity for e-finance applications.
Under the partnership arrangement, SinoBull will receive IBM partnership benefits including free trainings and technical support in China. IBM will help SinoBull to choose from more than 3,000 products and components for redistribution, resale and repackaging. These are open standards-based, ready-to-use, high-quality software technologies, components, sub-products and packaged products that SinoBull can embed, integrate, preload or bundle with its own products.
Ms. Xiaohong Liu, the lead manager of IBM Software Partner World in China, said, "IBM (China) welcomes SinoBull Financial Group as a new member of IBM China Partners for Software. We recognize SinoBull's leading position in China's e-finance market and are offering SinoBull engineers all necessary training and technical support to enhance the value of our working together as strategic partners in China."
Dr. Charlie Q. Yang, CEO of Hartcourt commented, "We are very excited with the opportunity of becoming an IBM Software Partner for China. Former joint activities between SinoBull and IBM dealt with other technical areas, including voice recognition technology development for online stock trading. We are now more focused on offering competitive solutions to our clients operating within the highly profitable financial industry. We believe that the marketing of proven software solutions should translate into meaningful revenue growth for the current year and beyond, and look forward to a long-term and enriching relationship with IBM."
About SinoBull Financial Group
SinoBull Financial Group, a Hartcourt subsidiary, is a financial technology developer and Internet service provider. SinoBull's operating companies include: Beijing UAC E-Commerce Networks, Shanghai Guo Mao Science & Technology, 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 brokerage firms to provide their clients with the ability to securely 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. The Hartcourt Companies, Inc. owns approximately 51% of SinoBull Financial Group.
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.
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.
CONTACT: Jack Westfield, Vice President, Corporate Finance of The
Hartcourt Companies, Inc., 310-410-7290, JWestfield@Hartcourt.com
(C) 2001 PR Newswire. All rights reserved.
INDUSTRY KEYWORD: CPR
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Nach meiner laienhaften Meinung kann man bei HRCT bei den aktuellen Kursen mittelfristig nicht viel falsch machen.
Ähnlich geht es bei einigen extrem verprügelten Breitband-Internet-Infrastruktur-Anbietern (Worldgate, Aperian, HSAC ...). Die sind in den letzten drei Tagen um bis zu 60 % gestiegen, obwohl es nicht einmal Meldungen gab. Man hat wohl eingesehen, daß für diese Firmen, deren Papiere um 1 bis 5 $ notieren, trotz aktueller Verluste eine grundsätzliche Existenzberechtigung gegeben ist.