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TCL Communication Technology Holdings Limited (TCL Communication), one of the leading mobile handset manufacturers in the Chinese mainland made its debut on HKEX (Hong Kong Exchanges and Clearings Limited) Monday.
On the first trading day, 54,508,800 shares of TCL Communication changed hands, with the total transactions amounted to approximately 56.8 million HK dollars (7.3 million US dollars).
Its share price closed at 1.16 HK dollar (0.15 US dollar), which is approximately 20 percent higher than the opening price.
Li Dongsheng, chairman of TCL Communication said, "We will capitalize on synergy in procurement, marketing and research and development to strengthen our competitiveness. TCL Communication will launch a number of innovative mobile handset models."
In addition, he said that TCL Communication will leverage on its worldwide business network spanning over 50 countries to establish an international business platform.
TCL Communication is engaged in the design, manufacturing and marketing of a wide range of mobile handsets with various levels of value-added features. In 2003, the company sold a total of 9.8 million mobile handsets in the mainland.
(Xinhua News Agency September 28, 2004)
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