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Proprietary Wireless PDA Makes Promising Debut With Hong Kong Investors
LOS ANGELES, Oct. 5 /PRNewswire/ -- The Hartcourt Companies Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com today announced that Hong Kong-based Financial Telecom Ltd., a member of the SinoBull Financial Group, has reported that its new SinoBull Wireless Personal Digital Assistant (PDA) is experiencing wide popular appeal following the official launch of the new wireless device earlier this week.
The services are offered via Financial Telecom's joint venture with Hong Kong-based Asia Paging Networks. The network has 83 transmitters in Hong Kong that are used to operate a data paging service in Hong Kong. The PDA technology being used was developed by Financial Telecom as a proprietary product for its exclusive use to deliver financial and investment related content to investors and financial professionals in Hong Kong. Those subscribing to the new service will pay US $20 per month to receive personal and real time financial data as well as the ability to access trades executed in Hong Kong markets. Financial Telecom has projected first year revenue of this service should be in excess of US $1 million.
Initial reactions from Hong Kong's brokerage and banking community indicate that the SinoBull Wireless PDA network has received significant interest from the growing mobile investor population. The wireless network has the ability to perform trade notifications for the new Hong Kong Automatic Order Matching and Execution System (AMS3) being deployed by the Hong Kong Stock Exchange.
Dr. Charlie Q. Yang, CEO of Hartcourt, said, "The initial success of the SinoBull Wireless PDA proves that innovation and creative thinking can produce new and technologically viable services based on existing network infrastructure. This gives us comprehensive market coverage at very minimal costs. We are exploring the opportunities to expand Financial Telecom's Wireless PDA technology into the Mainland China market as well as other global markets, including the U.S. The Wireless PDA solution offers a very affordable way to provide mobile financial data services to today's investors who demand the freedom that wireless technology brings into their lives."
About The SinoBull Financial Group:
SinoBull Group, which is 48% owned by Hartcourt, is a financial technology developer and Internet service provider. SinoBull's subsidiaries include: Beijing UAC Stock Exchange Online, 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 portals, www.sinobull.com.cn and www.sinobull.com.hk, 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 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 IPO's 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.