China Techfaith Wireless Com. T (OTC:CNTFY)

BEIJING, June 14, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company") today announced that it has received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated June 12, 2019, notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (the "Rule"). It has resulted from the fact that the bid price of the Company's American Depositary Shares ("ADSs") closed below US$1 per share for the last 30 consecutive business days. The Company has a grace period of 180 calendar days, expiring on December 9, 2019, in which to regain compliance. The Company will regain compliance if, at any time during this 180-day period, the closing bid price of the Company's security is at least $1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule within 180 calendar days, the Company may be eligible for additional time.

The notification has no immediate effect on the listing of the Company's ADSs on the Nasdaq Global Market. The Company intends to monitor the closing bid price of its ADSs between now and December 9, 2019 and intends to consider available options to cure the deficiency and regain compliance with the Rule's minimum bid price requirement within the prescribed grace period. The Company's ADSs will continue to be listed and trade on the Nasdaq Global Market during this period, unaffected by the receipt of the written notification from Nasdaq.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

BEIJING, May 7, 2019 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company") today announced it has received a standard notice from NASDAQ stating that, as a result of not having timely filed its annual report on Form 20-F for the year ended December 31, 2018, TechFaith is not in compliance with NASDAQ Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. This notice has no immediate effect on the listing or trading of TechFaith's American depositary shares on the Nasdaq Global Select Market.

Under NASDAQ's listing rules, the Company has 60 calendar days from the date of the notice to submit a plan to regain compliance. If the plan is accepted by NASDAQ, the Company can be granted up to 180 calendar days from the Form 20-F's due date, to regain compliance.

TechFaith expects to submit a plan to regain compliance or file its Form 20-F within the timeline prescribed by NASDAQ.

BEIJING, Dec. 20, 2018 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today provided a business update, with unaudited condensed financial results for the first half period ended June 30, 2018.

For the first half of 2018, TechFaith reported total net revenues of US$13.6 million compared to US$23.6 million in the same period of last year. Gross profit for the first half of 2018 was US$2.4 million compared to US$3.9 million in the same period of last year. Gross margin for the first half of 2018 was 17.3% compared to 16.4% in the same period of last year.

Operating expenses for the first half of 2018 were US$47.7 million compared to US$9.2 million in the same period of last year. Operating expenses for the first half of 2018 include bad debt provisions of US$37.9 million, comprised of approximately US$28.7 million related to a short-term loan that an unrelated third party defaulted on, and approximately US$9.2 million for doubtful accounts receivable and other receivables. Although the Company was able to collect, $20.7 million of the above mentioned short-term loan through the reporting date, the Company determined that the provision was necessary due to the default and the current credit condition of the counterparty. Operating expenses for the first half of 2018 also include impairment of long-lived assets of US$5.4 million, which is related to the write down in carrying value of real estate assets held by the Company under the continued operations, for the properties and constructions in progress in Shenyang, China.

On July 12, 2018, the Company announced an agreement to sell its 100% ownership in Charm Faith Limited, a wholly-owned subsidiary of TechFaith. The Company has transferred the 100% ownership to the buyer, and has already received proceeds of approximately US$70 million (or RMB468 million), as of November 30, 2018. The purchase agreement provides a full consideration of approximately US$104 million (or RMB710 million), which is subject to certain price adjustment mechanisms and an installment payment schedule. After the price adjustments, the final settlement price is expected to be approximately US$90 million (or RMB616 million), including a cash consideration of US$78 million (or RMB536 million) and assumption of debt of about US$11.7 million (or RMB80 million). As a result of the lower transaction valuation, the Company wrote down the carrying value of the assets held for sale to fair value less any cost to sell as of June 30, 2018, and recognized an impairment loss of US$62.2 million under net loss from discontinued operations for the first half period ended on June 30, 2018.

Reflecting the adverse impact of the above noted charges, provisions and write downs, net loss attributed to TechFaith for the first half of 2018 was US$109.5 million, or US$10.3 per basic and diluted weighted average outstanding ADS, compared to net loss of US$2.6 million, or US$0.24 per basic and diluted weighted average outstanding ADS, in the same period of last year.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "There has been a further weakening of China's domestic property market and valuations due macro-economic weakness, a tighter domestic credit market and overall heightened caution. Transactions have been challenged as buyer situations have been negatively impacted and counterparties move to shore up their financial resources under a more conservative financing environment.  We are seeing softness in our mobile solutions due to the current trade tensions and tariffs. We are also seeing uncertainty and lower visibility for our real estate rental business and in additional financing from local banks after we disposed of our major real estate projects. Understanding we cannot control the broader environment, we remain focused on operational efficiencies, further lowering costs where possible and working to improve gross margin on a lower revenue base. We have also taken steps to consolidate our balance sheet, including taking provisions for doubtful accounts and bad debt as required under standard accounting practices."

Mr. Deyou Dong, Chairman and Chief Executive Officer of TechFaith, said, "The positive momentum that was starting to build in our business earlier in the year turned into headwinds in both our mobile solutions and real estate areas. We had expected to see some improvement on the mobile solutions area but the market has further weakened following ongoing trade tension and tariffs. The situation is equally challenging in the real estate area where valuations and demand from buyers have been negatively impacted due to more restrictive lending policies and greater uncertainty in the market. As such, we are focused on further rationalizing our cost structure, improving profitability on a lower revenue base, reducing asset risk on our balance sheet and extracting value from our portfolio. We have navigated many challenging market cycles over the Company's history and are applying that experience as we work to emerge in a stronger position."

BEIJING, Aug. 23, 2017 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company") today announced its unaudited condensed financial results for the first half period ended June 30, 2017.

For the first half of 2017, TechFaith reported total net revenues of US$24.6 million compared to US$34.5 million in the same period of last year. Gross profit for the first half of 2017 was US$4.5 million compared to US$5.5 million in the same period of last year. Gross margin for the first half of 2017 was 18.1% compared to 15.9% in the same period of last year.

Operating expenses for the first half of 2017 were US$9.4 million compared to US$5.7 million in the same period of last year. The first half of 2017 includes a charge of US$1.8 million for the write-off of impairment of acquired intangible assets. Net loss attributed to TechFaith for the first half of 2017 was US$2.6 million, or US$0.24 per basic and diluted weighted average outstanding ADS, compared to net loss of US$1.2 million, or US$0.11 per basic and diluted weighted average outstanding ADS, in the same period of last year.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "We were able to maintain revenue in our mobile phone business at a healthy level but our efforts were impacted by softness in the overall China handset market. Separately, we expect to further strengthen our balance sheet over the coming quarters as we execute on our business strategy and deliver a greater return to our shareholders. Earlier this year we announced the share transfer agreement to sell our Beijing real estate portfolio for a total consideration of RMB1 billion (approximately US$144 million). We have already received  approximately RMB 400 million of the proceeds as of Jun 30, 2017 and expect to receive approximately RMB 400 million by the end of the third quarter 2017, with the balance of RMB 200 million to be received upon final construction and transfer of relevant ownership certificates."

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "We continue to build upon our positive operating position, with a stabilized gross margin and lower cost structure. We are also pleased with the ongoing successful development of our real estate business, led by the announced agreement to sell our Beijing real estate portfolio. We continue to execute on the buildout of our other real estate assets in Hangzhou and Shenyang, which we expect to serve as additional catalysts for our revenue and profit growth, and our success will allow us to build greater value for our shareholders. We believe our actions will benefit our long term business growth based on China's real estate market, help to further improve our cash flow, and reduce potential operational challenges. Overall, we will continue to focus on delivering an improved return on investment to the company and our shareholders, as we optimize our existing resources and infrastructure, and work to keep operating expenses under tight control to avoid any unnecessary risks and costs."

BEIJING, April 12, 2017 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced its unaudited financial results for the second half and the full year ended December 31, 2016, as well as the agreement to sell certain of its Beijing real estate assets for RMB 1 billion (approximately US$144 million).

2H and Full Year 2016 Financial Results

For the second half of 2016, TechFaith reported total net revenues of US$26.5 million compared to US$34.5 million in the first half of 2016 and US$15.8 million in the second half of 2015. Gross profit for the second half of 2016 was US$7.0 million compared to US$5.5 million in the first half of 2016 and US$1.2 million in second half of 2015. Gross margin for the second half of 2016 was 26.3% compared to 15.9% in the first half of 2016 and 7.8% in the second half of 2015. Operating expenses for the second half of 2016 were US$10.2 million compared to US$6.0 million for the first half of 2016 and US$8.5 million in the second half of 2015. Net income attributed to TechFaith for the second half of 2016 was US$11.3 million, or US$1.07 per basic and diluted weighted average outstanding ADS, compared to a net loss of US$1.2 million, or US$0.11 per basic and diluted weighted average outstanding ADS, in the first half of 2016, and a net loss of US$7.8 million, or US$0.74 per basic and diluted weighted average outstanding ADS, in the second half of 2015. 

For the full year ended December 31, 2016, TechFaith reported total net revenues of US$61.0 million compared to US$63.7 million for the full year ended December 31, 2015. Gross profit for the full year 2016 was US$12.5 million, compared to US$5.8 million for the full year 2015. Gross margin for the full year 2016 was 20.4%, compared to 9.2% for the full year 2015. Operating expenses for the full year 2016 were US$16.3 million compared to US$17.8 million for the full year 2015. Net income attributed to TechFaith for full year 2016 was US$10.1 million, or US$0.96 per basic and diluted weighted average outstanding ADS, compared to a net loss of US$12.8 million, or US$1.21 per basic and diluted weighted average outstanding ADS, for the full year 2015.

BEIJING, Aug. 23, 2016 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company") today announced its unaudited financial results for the first six months ended June 30, 2016.

For the first half of 2016, TechFaith reported total net revenues of US$35.0 million compared to US$16.3 million in the six months ended December 31, 2015 and US$48.3 million in the same period of last year.  Gross profit for the first half of 2016 was US$5.9 million compared to US$1.7 million in the six months ended December 31, 2015 and US$5.0 million in the same period of last year. Gross margin for the first half of 2016 was 16.9% compared to 10.3% in the six months ended December 31, 2015 and 10.4% in the same period of last year. The improvement in gross margin in the first half of 2016 primarily reflects the positive impact of the completion of various non-recurring engineering projects and higher-end handset sales.

Operating expenses for the first half of 2016 were US$6.2 million compared to US$8.6 million for the six months ended December 31, 2015 and US$9.4 million in the same period of last year. Net loss attributed to TechFaith for the first half of 2016 was US$1.2 million, or a loss of US$0.11 per basic and diluted weighted average outstanding ADS, compared to a net loss of US$7.8 million, or a loss of US$0.74 per basic and diluted weighted average outstanding ADS, in the six months ended December 31, 2015, and a net loss of US$5.0 million, or a loss of US$0.47 per basic and diluted weighted average outstanding ADS, in the same period of last year. 

As of June 30, 2016, the Company had a balance of non-mobile related real estate, fixed assets, construction in progress and advances of US$303.1 million (or RMB 2,014.6 million), as compared to US$308.3 million (or RMB 1,996.8 million) as of December 31, 2015.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "Our focus in the first half of 2016 has remained on restoring higher operating efficiency at our current revenue level.  We are pleased with our progress and are targeting further improvements in profitability.  We were able to reduce operating expenses by 34.3%, as compared to the first half of 2015, led by reductions in our professional service expenses and other non-revenue generating areas of our business. Our results also benefitted from the contribution of our real estate business.  Overall, we ended the first half of 2016 with a net book value of approximately US$26.9 per ADS as of June 30, 2016 versus US$27.7 per ADS as of December 31, 2015."

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "We achieved better performance in our revenue growth and profitability in the first half of 2016, while executing on our longer-term business strategy.  We are focused on extracting additional operating expenses out of our business, and have moved away from less profitable business areas that negatively impacted our profitability in prior periods. As a result, we are now able to direct our resources and energies to the promising, higher return areas of our business, mainly mobile handsets sales and our expanding real estate business.  We believe we have moved beyond the low point in revenue and expect to benefit from our ability to provide customers tailor made solutions, where we are more competitive and able to secure orders in the enterprise segment of the mobile phone business. We are also optimistic about the ongoing development of our real estate business, with a highly attractive commercial portfolio that we can lease or hold to capture ongoing value appreciation. Overall, we are pursuing more growth opportunities for the mobile phone business and our expanding real estate business, while optimizing our existing resources and infrastructure, and keeping tight control over all operating expenses to avoid any unnecessary overhead costs."

BEIJING, May 31, 2016 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company") today announced it will launch a new 4G, Intrinsically Safe Smartphone.  The latest model is based on TechFaith's popular Model A-12.  It is expected to start shipping in June, 2016, and will target higher volume opportunities in the global Oil and Gas Industry, that require the Ex ib IIC T5Gb IP68 standard.

The Intrinsically Safe, Android 5.1 based A-12 features a 4.5 inch HD LCD screen with 3rd generation Gorilla Glass, dual cameras, push to talk functionality, a quad core processor and a host of outdoor applications, including a barometer, compass, torch light and magnifying glass.  Ex ib IIC T5Gb certification means the latest A-12 is an officially qualified Intrinsically Safe Smartphone that can be used in Zone 1 and Zone 2 areas, and alongside type IIC flammable gas.

Mr. Deyou Dong, CEO of TechFaith, said, "This is the latest example of TechFaith leveraging its design expertise to provide a tailored smartphone solution to an underserved market.  We found that while the Oil and Gas Industry employs millions worldwide, communications was a challenge.  With many professionals working in areas with high concentrations of flammable gases and dust, it is a life and death necessity to have all electronic devices to ensure the highest level of protection in order to avoid any unintentional ignitions. TechFaith has previously designed smartphones that could operate with lower voltages and reduced heat generation that were an ideal platform to develop our latest A-12. We think that by providing a safety compliant smartphone device that does not sacrifice the features people rely upon, with an attractive design, we will have another commercially successful product, with opportunities in both the Domestic China and International markets." 

BEIJING, April 19, 2016 /PRNewswire/ -- China TechFaith Wireless Communication Limited (NASDAQ: CNTF), today announced it will contract to ship its ruggedized, shock proof, water proof, J6 Android smartphone to a customer in Europe. Under the agreement, TechFaith will brand its model J6, ruggedized smartphone using the customer's brand name, with shipments commencing in the second quarter of 2016.

TechFaith's J6 ruggedized, shock proof, water proof smartphone is accredited with IP68 and MIL-S810G standards certifications. The J6 is designed for full functionality in highly demanding environments, with a wide Gorilla Glass 4'' screen and innovative features such as wireless charging and NFC. The ruggedized J6 is built on the Android 5.1 operating system, with 200 hours of battery life or 16 hours of talk time. It is compatible with LTE/WCDMA/GSM networks for fast and reliable mobile access, with an integrated 13 megapixel camera for professional quality video and still image photography. The J6 has also been tailored to add the Lone Worker Monitoring (LWM) system, which will automatically call for help in case of an accident.

Mr. Deyou Dong, CEO of TechFaith, said, "This is a higher profile win for us, underscoring the continued opportunities we are seeing worldwide in the enterprise market. Our ability to tailor mobile solutions to customers' needs - including branding requirements - sets TechFaith apart. In the case of our J6 ruggedized smartphone, this was a perfect match for our customer, which is one of the oldest and best known companies in the handy tools business. We hope to further strengthen our cooperation with a wider range of devices, which are also consistent with their image. Given that our customer is serving the needs of customers in demanding and often dangerous construction, remodeling and work environments, it was essential that the smartphone had the proven ruggedized features that our J6 boasts. Our J6 is pretty much indestructible, which gives users confidence knowing that the phone they buy today will not be lost tomorrow with a cracked screen or destroyed with water exposure."

Fourth Quarter 2015 Financial Results

• TechFaith reported total net revenues of US$8.7 million compared to US$7.6 million in the third quarter of 2015 and US$26.7 million in the fourth quarter of 2014.
• Net loss attributed to TechFaith for the fourth quarter of 2015 was US$2.4 million, or a US$0.23 loss per basic and diluted weighted average outstanding ADS, compared to a net loss of US$5.4 million, or a US$0.51 loss per basic and diluted weighted average outstanding ADS, in the third quarter of 2015, and a net loss of US$3.9 million, or a US$0.36 loss per basic and diluted weighted average outstanding ADS, in the fourth quarter of 2014.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "Our focus in 2015 was on restoring the operating efficiency and effectiveness of the Company and positioning TechFaith for success over the longer term in the face of continued macro weakness and high competition in mobile phone markets worldwide. We successfully streamlined our mobile business to give us the R&D, sales and customer support resources needed to win over attractive enterprise opportunities, while achieving profitability targets at lower revenue levels. We reduced costs further in other areas where we were not achieving the desired results, ending 2015 with 31.2% lower operating expenses as compared to 2014. This included scaling down our gaming business, which after several quarters of earlier growth had become a drag on profitability in 2015 due to the competitive realities of the segment. At same time, we made considerable progress in the development of our real estate portfolio. This continued execution helped us increase lease revenue to US$4.4 million for the full year 2015. We expect this positive trend to continue, giving us added stability and visibility, as additional space comes online and is either leased or sold."

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "We accomplished a great deal in 2015 as evidenced in the fourth quarter of 2015 by the improvement in our gross margin to 25.0%. We made the necessary hard decisions as we continued to shift our core operating business to focus on profitable areas, such as our healthy and expanding real estate business and where we can win over attractive customer orders in the enterprise segment of the mobile phone business. This two-pronged strategy allows us to operate at a lower breakeven revenue level, while laying the groundwork for increased profitability. Our success was shown in our January 2016 announcement of securing a large, multi-year enterprise order. Our ability to provide custom solutions is the key for us to secure this order and gives us an advantage in meeting the needs of other enterprise customers. Overall, while we expect the macro environment to remain challenging in 2016, we are optimistic and well positioned for profitability at current lower revenue levels based on actions we took to lower operating costs and make our core business healthier. We are also well positioned to benefit from the ongoing development of our real estate business, as we work to lease or sell available but unoccupied space. We will remain conservative and focus on controlling operating expenses, while being able to leverage our existing infrastructure and resources to pursue growth opportunities without added overhead costs."

First Quarter of 2016 Outlook

TechFaith currently expects its total revenues for the first quarter of 2016 to be in the range of US$8.0 million to US$10.0 million. The forecast represents TechFaith's current and preliminary view, which is subject to change.

BEIJING, March 2, 2016 /PRNewswire/ -- China TechFaith Wireless Communication Limited (CNTF), today announced it has commenced shipments of it ruggedized Android phablet into European Union.

TechFaith's JNOTE is a ruggedized phablet designed on the robust Android 5.0 Lollipop operating system, running on an Octa Core CPU, compatible with LTE/WCDMA/GSM networks, and accredited with IP68 and MIL-S810G standards certifications.  4G LTE gives the JNOTE fast mobile access, with an integrated 13 megapixel camera for professional quality video and still image photography.  Other features include a 6.0 inch LCD screen with 1080 x 1920 High Definition resolution protected by 3rd Generation Gorilla Glass, water resistance up to 1.5 meters, dust and shock resistance, dual sim card support and NFC to facilitate fieldwork.

Mr. Deyou Dong, CEO of TechFaith said, "This is another solid win for us in the Enterprise Segment, led by our strong, proven expertise in working with clients to tailor mobile devices to meet their highly specialized needs.  We continue to see a lot of interest in our ruggedized models, which we initially developed for use in a demanding police and military environment.  Our latest model tailors our powerful ruggedized phablet to meet client needs in fleet management and data security solutions in both office and outdoor settings. This value adding approach continues to differentiate our products in the marketplace and provides us with a distinctive advantage in the diverse enterprise segment across numerous industries."

BEIJING, Feb. 25, 2016 /PRNewswire/ -- China TechFaith Wireless Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today reiterated that it will change the ratio of its American Depositary Shares ("ADSs") to ordinary shares, par value US$0.00002 per share ("Shares"), from one (1) ADS to fifteen (15) ordinary shares to one (1) ADS to seventy-five (75) ordinary shares (the "Ratio Change"), effective on March 1, 2016.

For TechFaith's ADS holders, the Ratio Change will have the same effect as one-for-five reverse ADS split. Each TechFaith's ADS holder of record at the close of business on February 29, 2016 will be required to exchange every five (5) ADSs then held for one (1) new ADS. No new Shares will be issued in connection with the ratio change, and TechFaith's ADS will continue to be traded on the NASDAQ Stock Exchange under the symbol "CNTF". Bank of New York, Mellon, NA will contact ADS holders and arrange for the exchange of their current ADSs for the new ADSs.

As a result of this Ratio Change, the ADS price is expected to automatically increase proportionally, although the Company can give no assurance that the post-change ADS price will be equal to or greater than the pre-change ADS price multiplied by the ratio. The effect on the ADS price will take place on March 1, 2016. The Company believes that the Ratio Change is in the best interests of its shareholders as it will assist the Company in regaining compliance with the minimum bid price continued listing requirement of the NASDAQ Stock Market. However, the Company ca

BEIJING, Feb. 12, 2016 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company") today announced that it will change the ratio of its American Depositary Shares ("ADSs") to ordinary shares, par value US$0.01 per share ("Shares") from one (1) ADS to fifteen (15) ordinary shares to one (1) ADS to seventy-five (75) ordinary shares (the "Ratio Change"), effective on March 1, 2016.

For TechFaith's ADS holders, the Ratio Change will have the same effect as one-for-five reverse ADS split. Each TechFaith's ADS holder of record at the close of business on March 1, 2016 will be required to exchange every five (5) ADSs then held for one (1) new ADS. No new Shares will be issued in connection with the ratio change, and TechFaith's ADS will continue to be traded on the NASDAQ Stock Exchange under the symbol "CNTF". Bank of New York, Mellon, NA will contact ADS holders and arrange for the exchange of their current ADSs for the new ADSs.

As a result of this Ratio Change, the ADS price is expected to automatically increase proportionally, although the Company can give no assurance that the post-change ADS price will be equal to or greater than the pre-change ADS price multiplied by the ratio. The effect on the ADS price will take place on March 1, 2016. The Company believes that the Ratio Change is in the best interests of its shareholders as it will assist the Company in regaining compliance with the minimum bid price continued listing requirement of the NASDAQ Stock Market. However, the Company can give no assurance that this goal will be achieved upon the effectiveness of the Ratio Change.

BEIJING, February 1, 2016 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it will launch a new 4G smartphone, codenamed the "U9". The new ruggedized smartphone is tailored specifically for usage in the global Oil and Gas Industries with the Ex ib II BT 4Gb ATEX standard.

The explosion protected, Android 5.1 based U9 features state-of-the-art wireless charging, a gas detecting sensor, a 5.5 inch AMOLED LCD, a 20 mega pixel rear camera, an Octa Core CPU processor, NFC, large battery capacity, barometer, altimeter and a host of outdoor applications. The gas detecting sensor is able to alert users if the level of flammable gas within their immediate operating area is at a dangerous level. The implementation of NFC will allow users to digitize their wallets and use popular tap-and-go services, including Google Wallet, and also allows for an easier transfer of photos, contacts and data by holding two phones together.

Mr. Deyou Dong, CEO of TechFaith, said "We designed our latest sleek and powerful U9 with the end users' needs in mind from start to finish. While the U9 was specifically tailored for users in the global Oil and Gas industries, we could envision usage in other industries with modifications. Features like wireless charging and NFC add high value to users, while increasing the potential life of the smartphone by removing an open port that could otherwise prove fatal to the device if exposed to liquids, and reducing cords and clutter."

BEIJING, January 19, 2016 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it will launch a new 4G smartphone, branded the M2, to target higher volume, mass market opportunities. TechFaith plans to ship its sleek M2 in the first quarter of 2016.

TechFaith's M2 will be one of the slimmest IP68-certified smartphones on the market. The Android-based, M2 features a 5.0 inch HD LCD screen with 3^rd generation Gorilla Glass, dual cameras, a quad core processor and a host of outdoor applications, including a barometer, compass, torch light and magnifying glass.

Mr. Deyou Dong, President and CEO of TechFaith, said, "We designed our latest smartphone, the M2, to give us a strong competitive offering to go after higher volume, mass market opportunities in both the Domestic China market and internationally. By leveraging our extensive R&D and design expertise and resources, we were able to build an appropriately priced 4G phone, with the thin profile and durability important to consumers today. This is one our first models developed specifically for higher volume, mass market opportunities, which have not historically been a primary focus of our development, marketing and sales resources. We will continue to work to adjust our roadmap to the constantly evolving markets we serve."

Third Quarter 2015 Financial Results

• For the third quarter of 2015, TechFaith reported total net revenues of US$7.6 million compared to US$23.6 million in the second quarter of 2015 and US$22.1 million in the third quarter of 2014.
• Net loss attributed to TechFaith for the third quarter of 2015 was US$5.4 million, or US$0.10 per basic and diluted weighted average outstanding American Depositary Share (ADS), compared to a net loss of US$1.8 million, or US$0.03 per basic and diluted weighted average outstanding ADS, in the second quarter of 2015 and a net loss of US$4.6 million, or US$0.09 per basic and diluted weighted average outstanding ADS, in the third quarter of 2014.

Miss Ouyang Yuping, TechFaith Chief Financial Officer, said: "The third quarter of 2015 developed as expected with revenues in line with our guidance. Rental income for the third quarter of 2015 was US$1.2 million, representing 15.2% of total revenue, as compared to US$1.3 million or 5.7% of total revenue in the second quarter of 2015. We expect rental income to continue to increase in the coming year as additional space becomes available to lease. The inventory obsolescence charge in the third quarter was a result of our ongoing evaluation of business options and operating costs for our low margin mobile handset business. We reviewed our existing inventory this past quarter and wrote off certain components and devices deemed obsolete in today's market, as required under generally accepted accounting practices."

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "We remain very confident in our long-term prospects due to our significant progress in our real estate business in Beijing and Hangzhou, where commercial properties continue to perform well. We are moving more exclusively in the direction of developing industrial real estate due to the compelling financial opportunities. We have made considerable progress in the rental of our Hangzhou and Shenyang Technology Parks, which, as we previously announced, are at 95% and full occupancy rates, respectively. This healthy lease activity increases the confidence we have in our Beijing Xi-Hong Men Technology Park and our broader real estate business. We are also looking at other ways we can leverage our real estate properties as a platform for growth in other areas, such as potentially hosting an incubator for start-up technology companies within our premises. We intend to proceed cautiously on any such new venture and target to carefully limit our risk exposure in any such potential investment."

During the nine months ended September 30, 2015, the Company invested US$146.8 million in its real estate projects. At September 30, 2015, the Company had a balance of non-mobile related real estate, fixed assets, construction in progress and advances of US$308.7 million included in plant, property and equipment and other non-current assets, as noted within the attached unaudited condensed consolidated balance sheet.

Fourth Quarter of 2015 Outlook

TechFaith currently expects its total net revenues for the fourth quarter of 2015 to be in the range of US$6.0 million to US$8.0 million. This forecast represents TechFaith's current and preliminary view, which is subject to change.

BEIJING, October 14, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that its Shengyang High Tech Park has reached full occupancy rate. This follows news on September 28, 2015, that the Company's 3 building, 43,300 square meter Hangzhou High Tech Park had reached a 95% occupancy rate. TechFaith has invested approximately US$334 million in the development of its real estate portfolio over the past 8 years.

TechFaith's Shengyang High Tech Park is located in the Shen Bei New District Mobile Devices Industry Zone and is comprised of 2 buildings totaling approximately 10,270 square meters. The Company has invested approximately US$10.1 million in the phase one development of this high tech park.

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "This is further validation of our long-term strategy. Our goal has been to get into markets where we can benefit from lower land rights prices and subsequently increased lease rates as the target areas become even more commercially and economically robust. This has been a multi-year strategy and has already led to a significant appreciation in the value of our existing properties as compared to the carrying values."

In an effort to accelerate the construction process of the Company's properties, management made the strategic decision in the second quarter of 2015 to pay approximately US$139 million. The Company expects to further benefit from its payment by freezing the price of raw materials, which can fluctuate considerably during the construction process.

BIRMINGHAM, Ala., Oct. 1, 2015 /PRNewswire/ -- The following is an open letter sent October 1, 2015 to the Board of China TechFaith Wireless Communication Technology Limited (CNTF).

We applaud you for maintaining such balance sheet discipline and strength over a tumultuous period for wireless hardware manufacturers and are aware of the difficulty you have had in your operating business since year end 2011, as is evidenced by net losses in years 2012-2014.  We recognize that technology life cycles are short, unpredictable and highly competitive and do not want to examine the past.  The fact remains, however, SHAREHOLDERS HAVE SUFFERED ENORMOUSLY under your leadership as is evidenced by the fact that the share price has declined 95% while the company's net assets have increased substantially.  

• In May 2005 your IPO priced at $16.25 via Merrill Lynch, Lehman Brothers and CIBC, raised $141MM with a market cap of approximately $700MM;
• In Sept 2015, 10 years later, the shares trade at 56 cents and have a mkt cap of $30 MM; a decrease of approximately 95% in shareholder value;

Investors believe in your commercial real estate ("CRE") based balance sheet, along with the corresponding cash balances.  The share price is so low relative to these asset values because shareholders have lost confidence and trust in your efforts and doubt that any of the underlying value will be transferred to them via dividends or share repurchases. The following balance sheet metrics clearly exhibit this fact:

How does this happen? We keep coming back to the same conclusion, TechFaith leadership has been lackadaisical and done nothing to support shareholder value, let alone maximize it.  Management has not articulated a true vision of the CRE transformation, which is disturbing since the accumulation of CRE was fortuitous in the first place as the company's need for facilities diminished after construction commenced in Hangzhou.  The CRE strategy has taken too long and is still very unclear what the end goal is; hence the minimal returns demonstrated thus far.   Balance sheet strength is the primary reason why many investors, like us, are engaged, but understandably out of patience.  

Shareholder support has declined precipitously since 2011, which is the last year the company has participated in an investment conference.  Corporate communications have roughly dropped by 50% in terms of public releases from 2011, and the website maintains a presentation from 2014, which is clearly outdated and not reflective of the CRE transition in terms of dollars invested.  Simply put, shareholders want management to become engaged, run the business in order to MAXIMIZE ALL SHAREHOLDER VALUE, proactively communicate and become the SHAREHOLDERS ADVOCATE.  If management were outside investors, not personally connected to the company, would you be a shareholder?  We highly doubt it.  

In an effort to maximize shareholder value we IMPLORE the Board to undertake the following:  

-  Form a special committee of Directors, led by new CEO Deyou Dong, to study and implement a broad-based plan to MAXIMIZE VALUE FOR ALL SHAREHOLDERS. THIS IS MANAGEMENTS' OBLIGATION TO SHAREHOLDERS which we view as a shareholder "Advocacy" program and request, as a minimum, that the following to be included in the study:

1. Reinstate the existing $10 MM share buyback program, only 61K shares have been purchased under this authorization since 2009;
2. Hire an external advisor to divest the wireless business and IP in order to become a pure play CRE business;
3. Articulate to investors whether you are a CRE business with a plan to deliver returns back to shareholders or simply just a collection of CRE assets with no monetization plan.
4. Study the benefits of a one-time special dividend;
5. Study the benefits of a one-time tender offer to buy back 25% of the outstanding ADS;
6. Study the benefits of a corporate rebranding to reflect the CRE transformation away from the wireless business.

The balance sheet continues to have the flexibility to execute any number of initiatives when considering its strength versus current market capitalization.   Simply put, any combination of the aforementioned initiatives should quickly produce a much higher share price that would generate shareholder enthusiasm and provide managements clear objective that its' interests are ALIGNED WITH ALL SHAREHOLDERS.

We direct the Board to consider and implement the aforementioned initiatives based upon the following:

1. The Directors, led by the CEO, have a duty to act in the best interest of the company with the unwavering go being MAXIMIZATION OF SHAREHOLDER VALUE. TIME IS OF THE ESSENCE considering the recent NASDAQ deficiency notification on minimum bid requirements, as special actions will be mandatory to bring the per share price above $1.  A reverse stock split is NOT ACCEPTABLE and will not be tolerated in this case as it solves none of the aforementioned problems.
2. The company has done virtually NOTHING TO ENHANCE OR SUPPORT SHAREHOLDER VALUE since the prior CEO purchased shares in the market in 2011.  Investors set expectations, which, in this case, are abysmally low.  If management can exceed the expectation for OVERT shareholder communication and surprise to the upside, the share price will benefit dramatically.
3. The balance sheet maintains considerable flexibility to execute any of the share buyback or special dividend suggestions.  
4. The company recently sold 3 additional floors in the Beijing office building and will receive total proceeds of $25.8 MM.  This transaction alone will generate income just under the company's current market cap.  
5. The company has not bought back shares since 2009.

The Board MUST ACT WITH DISPATCH and take immediate action to implement the suggested initiatives in an effort to benefit ALL SHAREHOLDERS.   CEO Deyou Dong stated it clearly himself on the Q1 conference call by saying, "we will work even harder and try new ideas to get a higher valuation for our shareholders."  We appreciate your attention to this serious matter and trust that you will follow through and implement a plan that MAXIMIZES SHAREHOLDER VALUE.  

Respectfully,

John Romero
Patrick Small

BEIJING, Sept. 28, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that its HangZhou High Tech Park has reached a 95% occupancy rate.

TechFaith's Hangzhou High Tech Park comprises 3 current buildings with approximately 43,300 square meters, with a total investment of approximately USD43 Million.  The high tech park boasts a sought after location within the Bin Jiang District (Qiu Yi Road 601) and offers close proximity to major Internet companies making it popular. 

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "We are very encouraged by the strong occupancy rate.  This is another step in our efforts to monetize our investment in real estate.  We will leverage our experience and strategy in HangZhou with our other High Tech Parks as we work to attract suitable tenants or buyers to lease or purchase all available and unused space."

Second Quarter 2015 Financial Results

• Total net revenues of US$23.6 million compared to US$24.7 million in the first quarter of 2015 and US$23.7 million in the second quarter of 2014.
• Net loss attributed to TechFaith for the second quarter of 2015 was US$1.8 million or US$0.03 per basic and diluted weighted average outstanding American Depositary Share (ADS), compared to a net loss of US$3.1 million or US$0.06 per basic and diluted weighted average outstanding ADS in the first quarter of 2015 and a net loss of US$2.1 million or US$0.04 per basic and diluted weighted average outstanding ADS in the second quarter of 2014.

Ms. Ouyang Yuping, TechFaith's Chief Financial Officer, said, "The second quarter of 2015 developed as expected with revenues coming in line with our guidance. Our gross margin improved to 11.9% in the second quarter of 2015 from 9.0% in the first quarter of 2015, as we achieved a 75% increase in our rental income over the same period, which rose from US$0.8 million to US$1.3 million. We continue to evaluate resources and programs as we work to better align our cost structure to our lower revenue base and to support the increased significance of our real estate business. As a result, we further reduced our operating expenses to US$4.3 million in the second quarter of 2015 compared to US$5.2 million in the first quarter of 2015. We remain on schedule with the expansion of our real estate business, with the second quarter of 2015 marking another major milestone in our progress. We invested US$139.1 million as part of a planned expansion of our real estate portfolio, which had the impact of reducing our balance of cash and cash equivalents to US$16.5 million at the end of the second quarter of 2015. We continue to have both sufficient resources and flexibility to meet our operating and working capital needs. Importantly, we expect to strengthen our balance sheet over the coming quarters as we start to secure a return on our real estate investments through the sale or lease of all available and unoccupied space."

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "Our overall assessment of the mobile sector remains unchanged from earlier in the year, with growth expected to face significant challenges for the foreseeable future due to shorter product lifecycles, high levels of competition and continued cost pressure. We are starting to evaluate strategic options around our mobile business, which may or may not ultimately result in the sale of our mobile business. We continue to focus on our growing real estate portfolio and expect this to be a major catalyst to unlock value for our Company and shareholders going forward. As we have completed most of the construction associated with our 16 buildings in Beijing, in addition to our two already completed buildings in Shenyang, our focus is on finishing the final construction phase of our technology parks in Beijing and attracting suitable tenants or buyers to lease or purchase all available and unused space."

Third Quarter of 2015 Outlook

TechFaith currently expects its total net revenues for the third quarter of 2015 to be in the range of US$4.5 million to US$8.0 million. The decline in expected total net revenues for the third quarter 2015 as compared to the second quarter of 2015 reflects the expected significant negative impact of reduced orders from one of the Company's large enterprise customers. This forecast represents TechFaith's current and preliminary view, which is subject to change.

BEIJING, September 18, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that it has received a letter from The NASDAQ Stock Market LLC ("Nasdaq"), dated September 10, 2015, notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under NASDAQ Listing Rule 5450(a)(1) (the "Rule"). It has resulted from the fact that the bid price of the Company's American Depositary Shares ("ADSs") closed below US$1 per share for the last 30 consecutive business days. The Company has a grace period of 180 calendar days, expiring on March 8, 2016, in which to regain compliance. The Company will regain compliance if, at any time during this 180-day period, the closing bid price of the Company's security is at least $1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the Rule within 180 calendar days, the Company may be eligible for additional time.

The Company intends to monitor the closing bid price of its ADSs between now and March 8, 2016 and intends to consider available options to cure the deficiency and regain compliance with the Rule's minimum bid price requirement within the prescribed grace period. The Company's ADSs will continue to be listed and trade on the NASDAQ Global Market during this period, unaffected by the receipt of the written notification from Nasdaq.

This announcement is made in compliance with NASDAQ Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

BEIJING, Sept. 8, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that the Company's Audit Committee has engaged Friedman LLP as the Company's new independent auditor and dismissed Deloitte Touche Tohmatsu Certified Public Accountants LLP ("Deloitte") as its independent auditor, effective as of September 3, 2015.  

The Company's Audit Committee reached its decision to engage Friedman LLP as the new independent registered public accounting firm of the Company after a thorough evaluation and with the concurrence of the Company's Board of Directors. Deloitte and its affiliate have audited and reported on the Company's consolidated financial statements since 2004, and none of these reports contained any adverse opinion or a disclaimer of opinion or was qualified or modified as to uncertainty, audit scope, or accounting principles. There have not been any disagreements between Deloitte and the Company on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures that would have caused Deloitte to make reference to the subject matter of the disagreement in connection with its reports on the Company's consolidated financial statements.

Friedman LLP will begin providing services to the Company and will work closely with Deloitte to ensure a seamless transition.

Reiteration of 2Q 2015 Guidance and Expected Date for the Announcement of 2Q 2015 Results

The Company reiterates the guidance previously provided in its press release issued on May 26, 2015 that it expects its total revenues for the second quarter of 2015 to be in the range of US$23.0 million to US$27.0 million. Given the auditor transition, the Company now expects to announce its financial results for the second quarter of 2015 and its business outlook on or about September 25, 2015. Details for the quarterly conference call will be provided at that time.

• TechFaith reported total net revenues of US$24.7 million compared to US$26.7 million in the fourth quarter of 2014 and US$26.8 million in the first quarter of 2014.
• Net loss attributed to TechFaith for the first quarter of 2015 was US$3.1 million or US$0.06 net loss per basic and diluted weighted average outstanding ADS, compared to a net loss of US$3.9 million or US$0.07 net loss per basic and diluted weighted average outstanding ADS in the fourth quarter of 2014, and net loss of US$2.9 million or US$0.05 net loss per basic and diluted weighted average outstanding ADS in the first quarter of 2014.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "Revenues during the first quarter of 2015 were at the midpoint of our guidance. Growth in our brand name phone business, along with rental income from our real estate portfolio, helped offset seasonal weakness due to the Chinese New Year and softness in our original developed product, or ODP, business.  We were able to reduce our net loss as compared to the prior quarter, by achieving operational efficiencies which lowered our operating expenses. Specifically, we lowered our operating expenses by 40.9% to US$5.2 million, as compared to US$8.7 million in the fourth quarter of 2014.  We ended the first quarter of 2015 with a balance of cash and cash equivalents of US$165.2 million, or approximately US$3.1 per ADS in cash and cash equivalents, and our net book value was approximatelyUS$6.1 per ADS.  Our focus remains on expanding higher margin opportunities in our brand name phone business, while at the same time further developing our real estate portfolio."

Management Succession

The Company today announced that effective as of today, its Founder, Mr. Defu Dong, will serve solely as Chairman of the Board of Directors.  The Company's President and Chief Operating Officer, Mr. Deyou Dong, will also serve as the Chief Executive Officer of TechFaith.  Mr. Deyou Dong has been an executive with the Company since 2007, and has served as Chief Operating Officer since 2009 and President since 2011.

Mr. Defu Dong, Chairman of TechFaith, said, "It is with great pride that I am transitioning the role of CEO to Mr.Deyou Dong.  Since founding the Company 13 years ago, we have worked hard to establish a global brand.  Deyou has been working by my side the majority of this time, helping to develop and execute our business strategy.  Now that we have gained critical scale with our real estate portfolio it is a logical decision to split the Company's executive roles as part of a planned transition. We will greatly benefit from having Deyou, a proven and trusted executive, serve in the day-to-day role of CEO to both motivate our employees to achieve greater results and infuse our corporation with powerful new ideas."   

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "I would like to thank Mr. Defu Dong for his leadership, commitment to the Company and its shareholders, and his confidence in me.  I am excited about the opportunity to serve as TechFaith's CEO. This is a formal recognition of much of the work I have been doing, which will help smooth and accelerate the transition into my new role.  We have added confidence in the Company's future, given the increasing strength of our diversified business model.  We are working hard to capitalize on opportunities in our mobile business, particularly in those areas where we have an identified advantage and expertise, such as with our ruggedized handset models.  In addition, we have developed a roadmap of 4G launches and expect to capture additional demand as a result of our tailored offerings to customers in the enterprise market, and from our entry into the wearables market.  Finally, we will continue to develop our real estate portfolio, as evidenced by the rental income we recognized in the first quarter of 2015 and the contract we entered into for the sale of one floor in one of our buildings in Beijing at the end of 2014.  We also started the process at the end of 2014 to secure contracts for the sale of another three floors in the same building." 

Second Quarter of 2015 Outlook

TechFaith currently expects its total revenues for the second quarter of 2015 to be in the range of US$23.0 million to US$27.0 million. The forecast represents TechFaith's current and preliminary view, which is subject to change.

BEIJING, May 18, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Limited (CNTF) today announced it will begin shipping its ruggedized smart watch, the A-Watch, into the European Union.  Shipments are expected to begin in the second quarter of 2015.  

TechFaith's A-Watch is a ruggedized smart watch.  Designed on the popular Android 4.3 OS, the smart watch can be used as a standalone wearable or paired to the user's Android-based smart phone of choice.  The A-Watch is ideal for on-the-go use and comes with a full array of active life applications that can be used without pairing the smart watch with a smart phone.  Applications include a Personal Fitness Manager, which features a heart rate sensor, calorie and cadence managers, and an activity intensity manager, among others.  The Mobile Companion Manager, features a convenient phone call interface, text messaging, email notification capabilities, and weather and full time functions, among others.  The ruggedized A-Watch smart watch was designed with an always glanceable LCD screen, is water proof up to 10 meters, and has a high capacity battery.

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith said, "We are excited about our A-Watch smart watch.  By building off of our expertise, we have solved a few of the major hurdles other entrants have stumbled on.  For example, our A-Watch is ruggedized and waterproof.  These features are fundamentally critical to consumers if they are going to be using the sought after on-the-go fitness programs a mobile smart watch is ideal for.  Equally important, our smart watch is not pigeon-holed by a closed operating system.  By designing an Android based smart watch, consumers will be able to use the ruggedized A-Watch as a standalone wearable or they can connect it with their favorite Android-based smart phone.  That is a powerful differentiator for us because the Android operating system is the World's most popular and the ecosystem continues to evolve and bring powerful new Android-based applications to consumers on a seemingly never ending pace.  We think we have a real winner given the intuitive interface, robust and flexible operating system, powerful battery, and the high convenience our attractive, ruggedized A-Watch smart watch offers."

BEIJING, May 11, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Limited (NASDAQ: CNTF) today announced a further expansion of its enterprise device shipments in the Latin America market. The latest win is from a client specializing in the Liquid Petroleum Gas delivery industry.

TechFaith customized a ruggedized mobile device to meet the industry specific requirements of the client, as it has done with other industries. The tailored, ruggedized mobile device features include a 4.5 inch Gorilla Glass LCD screen and a higher capacity battery to ensure longer usage time. In addition, the device retains popular features, such as IP68 and MIL-S810G capabilities, barometer, compass, GPS, with acoustic sound, hi-speed Wi-Fi connectivity, and many other features.

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "This latest win continues the momentum we are working to build in our enterprise segment. We are excited about this customer win because it leverages our expertise in tailoring customized products to meet industry and customer specific requirements. For example, as part of the design process, we incorporated an application the client developed internally as part of the final solution. Our ability to closely work with customers to provide a solution to their mobile and data device needs sets TechFaith apart and gives us a distinct competitive advantage. We are seeing an increased number of inquiries from customers worldwide, as we are readily able to develop tailored solutions, including among others, ones featuring state-of-the-art laser bar code and ID card readers, private network functionality, or even a variety of health care features. Our team is diligently working to execute on these opportunities as we remain focused on building value for the Company and our shareholders."

BEIJING, April 27, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Limited (NASDAQ: CNTF) today announced the expansion of its enterprise device shipments in the China market. TechFaith will ship its i-Hand mobile device, which has been tailored to meet the needs of a China-based company specializing in land surveying, GIS data acquisition systems and software mapping products.

TechFaith specifically designed this industry specific Android-based, iHand to cater to the customer's unique needs. This included incorporating Urban, Outdoor and Wasteland Surveying functionality, use of a transflective LCD screen and a high-capacity battery to ensure longer usage time. In addition, the i-Hand retains popular features, such as IP68 and MIL-S810G capabilities, barometer, compass, GPS, with acoustic sound, hi-speed Wi-Fi connectivity, and many other features.

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "This an important strategic win for us in the world's largest market. We continue to leverage our vast experience and intellectual property to pursue tailored, feature rich phone opportunities. We are uniquely positioned to meet the needs of customers seeking tailored products that are most often viewed as too complex by companies only interested in making high-volume of low price point, mass market phones. We are excited with our continued progress as it shows our momentum in the enterprise segment and in our domestic China market. We will continue to leverage our design and technology expertise and resources as we pursue other growth opportunities with enterprise clients worldwide, including in the healthcare industry and corporate market, where exciting technologies like fingerprint, retina and face recognition are becoming more mainstream."

Fourth Quarter 2014 Financial Results

• Total net revenues of US$25.9 million compared to US$21.5 million in the third quarter of 2014 and US$31.2 million in the fourth quarter of 2013.
• Net loss attributed to TechFaith for the fourth quarter of 2014 was US$3.9 million, or US$0.07 per basic and diluted weighted average outstanding ADS, compared to a net loss of US$4.6 million, or US$0.09 per basic and diluted weighted average outstanding ADS, in the third quarter of 2014, and a net loss of US$2.1 million, or US$0.04 per basic and diluted weighted average outstanding ADS, in the fourth quarter of 2013.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "We achieved revenue growth of 20.8% in the fourth quarter of 2014 compared to the third quarter of 2014, along with a healthy improvement in gross margin. We are encouraged that our ongoing operating business ended the year on a positive note given the challenges we experienced in 2014, characterized by high levels of competition in the mobile phone markets we serve, the migration of telecommunications operators globally from 3G to 4G, and the lack of a meaningful contribution from the gaming market. We continue to build our real estate portfolio, in which we have invested a total of approximately US$186.9 million, including US$78.8 million in the fourth quarter of 2014. This is reflected in our balance sheet, as we exited 2014 with a balance of cash and cash equivalents of US$171.0 million compared to US$259.3 million at the end of the third quarter of 2014. As of December 31, 2014, our capital commitments for the construction of property, plant and equipment were approximately US$97.4 million. Our balance sheet continues to give us the ability to pursue these longer-term business initiatives and strategies that are central to our Company's success, without needing to seek additional funding. We remain focused on these initiatives, which we believe will help drive improved profitability and build value for the Company's shareholders."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "We continue to focus on designing differentiated products to meet the needs of underserved enterprise users and niche consumer segments. Our design strength was recently recognized when we won the prestigious 2014 China Best Industrial Design Award from Telecommunications Global Net for our ruggedized JNOTE notepad. Our efforts in 2014 have laid the groundwork for 2015, giving us one of our strongest product line-ups in recent memory. While the market environment remains very challenging and difficult to forecast, our focus is on working with existing customers to develop potential opportunities in both China and the markets we serve worldwide. We plan to further expand our product line of ruggedized and tailored models to satisfy the demand we are seeing from both domestic and international clients, while supporting launches actively at international trade shows and other venues."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "Our results for 2014 reflect the continued competition and volatility we face in the mobile phone market, but do not reflect our progress in the development of our real estate portfolio. Our focus remains on serving mobile product market areas where we have an advantage and expertise. Our ruggedized mobile product family has expanded from a single mobile phone model into smartphones that boast the latest in health, sports and lifestyle functionality along with a slim-form advantage. Our ability to remain focused and to execute on our core business helped us exit the year with momentum in revenue growth and gross margin. We are now at an important juncture for the Company. I am pleased to report that we have now completed the construction of 16 buildings in Beijing and two in Shenyang. We have established a credible track record by executing projects on schedule and within budget. We are moving ahead with the next phase in developing our real estate portfolio, which is securing tenants for our available spaces, and will update investors as we progress through 2015. We believe our real estate portfolio represents a highly compelling asset and important opportunity for TechFaith, which is not yet reflected in the Company's valuation."

First Quarter of 2015 Outlook

TechFaith currently expects its total revenues for the first quarter of 2015 to be in the range of US$22.0 million to US$26.0 million. The forecast represents TechFaith's current and preliminary view, which is subject to change

BEIJING, February 3, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it will launch its first ruggedized 4G-based, Android smartphone, the "A7", targeting mass market in the first quarter of 2015.

TechFaith's ruggedized A7 brings the power of the latest 4G technology to a hard to damage, ruggedized A7 smartphone. By leveraging TechFaith's history of design expertise, the Company was able to significantly reduce both the weight and thickness of its base model ruggedized offering, while maintaining the quality and durability its phones are known for. The A7 is certified with IP68 and MIL-S810G standards. It features a 5.5 inch high resolution LCD protected by 3rd generation Gorilla Glass, and boasts the photographic power and flexibility of a 16.0MP rear camera and 13.0MP front camera. The A7 operates on a powerful Octa Core CPU and comes with many useful pre-installed outdoor applications, such as compass, barometer, altimeter, pedometer, magnifying glass, SOS function and more.

Mr. Deyou Dong, President and COO of TechFaith, said, "This is another exciting product launch for us. We are merging the latest in powerful 4G technology with the hard to damage, ruggedized design we have pioneered. Our latest model builds upon our strong history of design innovations, where we are able to leverage proprietary concepts from one model to another. We think there is an already established market for our A7 ruggedized smartphone in both the Domestic China and overseas markets. Consumers want an all-in-one smartphone that can also serve as a phone but more importantly as an entertainment console and computer but one that won't break if it is dropped on the ground. We see very good potential in that segment of the market and are confident we can be successful, as we leverage the combination of our strong brand and unique ruggedized features."

Third Quarter 2014 Financial Results

• Net revenue of US$21.5 million compared to US$23.1 million in the second quarter of 2014 and US$29.9 million in the same quarter last year.
• Net loss of US$2.1 million or US$0.04 loss per basic and diluted weighted average outstanding ADS in the second quarter of 2014 and net income of US$0.26 million or US$0.0049 per basic and diluted weighted average outstanding ADS in the third quarter of 2013.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "While we are encouraged by the growth in our branding business, such growth was not enough to offset the declines in our ODP business in the third quarter. As a result, revenue for the third quarter came in slightly below our previous guidance. Importantly, we continue to actively monitor our operating costs as we navigate the challenging handset market and continue to execute our plan to build our real estate portfolio. We did experience an increase in our total operating expense in the third quarter of US$0.6 million compared to the prior second quarter of 2014. This was primary due to the increase in our research and development expenses. Our solid balance sheet continues to enable us to focus on the longer-term growth initiatives that we believe have the greatest potential to build value for TechFaith and the Company's shareholders."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "We continue to make progress in our core branding business. This has been a growth driver for us and we expect it will remain so, given demand from customers combined with our planned new 4G products and wearable segment launches. As just one example, during the third quarter, we completed the development of our first wearable, ruggedized and waterproof Smartwatch, which we plan to follow with the launch of an extreme ruggedized camera early next year. TechFaith is well positioned for success in the evolving wearables market given our history of successful product development and solid relationships with customers and enterprises in both China and the broader global market. We plan to work with customers to offer tailored, branded solutions, which will allow us to leverage one product to penetrate multiple markets. As with markets we have successfully developed in the past, we will work to minimize our risk by taking a conservative approach and keeping all costs and inventory at low levels. On the ODP side of our business, there is a fundamental shift taking place in the dynamic mobile market with many carriers upgrading their networks to support 4G/LTE technology. While this has negatively impacted our shipments in the near-term, we plan to launch new 4G/LTE capable devices and plan to upgrade some of our existing devices to have 4G/LTE capability next year."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "The market remains highly challenging with 4G network upgrades and new features being quickly introduced and adopted by other handset developers. Our focus on niche opportunities has given us a more defensible market position but the unit volumes in the orders for our products have been much lower than those in more popular mass market designs. To expand our addressable market and increase order unit volumes, we are building our portfolio of offerings in the new wearables segment. Given that wearables require a combination of connectivity and portable communications technologies, two areas in which we excel, we are confident we can leverage our numerous innovations and design successes in the mobile market into new successes in the wearables market. The bottomline performance in the third quarter is not acceptable to our management team and we will continue to focus on achieving improvements for all of our shareholders in the coming quarters."

Fourth Quarter of 2014 Outlook

The forecast below is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenues for the fourth quarter of 2014 to be in the range of US$22 million to US$24million.

BEIJING, October 16, 2014 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it will launch its first wearable, ruggedized, waterproof Smartwatch, branded the "A-Watch", on the 18^th of this month.

TechFaith's A-Watch will leverage the Company's extensive leadership in the ruggedized segment. Based on the Android Jelly Bean operating system, the ruggedized A-Watch will be equipped with a 1.6 inch always glanceable, vibrant LCD screen. TechFaith's smart A-Watch is IP68 and MIL-S810G certified. In addition to being ruggedized and waterproof, the smart A-Watch will feature a Personalized Fitness Manager, Heart Rate Sensor, e-Compass, Smart Notification through Bluetooth or WiFi connectivity, and many additional features and functionality.

Mr. Deyou Dong, President and COO of TechFaith, said, "TechFaith is optimistic about the potential of the global wearable market. The market is set to quickly become a major growth driver of the technology and communications markets. Projections for the Smartwatch segment alone call for it to reach approximately US$10 billion by 2018 (source: Citi). Clearly, there is a lot of attention being devoted to the broader wearable market given the potential market size and incremental growth. The launch of our first wearable, ruggedized and waterproof Smartwatch will serve to expand our addressable market in the domestic China market over the near term and to other key markets worldwide over the longer-term, while expanding our successful ruggedized family of phones and notebooks. Given our differentiated position and potential for our ruggedized and waterproof smart A-Watch, we plan to take an even more aggressive promotion and marketing support strategy."

Second Quarter 2014 Financial Results

• net revenue of US$23.1 million compared to US$26.2 million in the first quarter of 2014
• Net loss attributed to TechFaith for the second quarter of 2014 was US$2.1 million, or US$0.04 loss per basic and diluted weighted average outstanding ADS, compared to net loss of US$2.9 million, or US$0.05 loss per basic and diluted weighted average outstanding ADS, in the first quarter of 2014, and a net loss of US$1.0 million, or US$0.02 loss per basic and diluted weighted average outstanding ADS, in the second quarter of 2013.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "Revenue for the second quarter was in line with our guidance, as sequential growth in our brand name phone business helped offset declines in our ODP business. We were also able to achieve a sequential improvement in our gross margin to 8.8% from 7.4% in the first quarter. This remains below our historical average gross margin level, reflecting the continuing negative impact of intense competition worldwide in the smartphone markets. As a positive, operating expenses declined slightly in the second quarter of 2014 as we continually monitor our costs. We are also keeping the development of our real estate portfolio on track from an investment cost and timeline standpoint. This is reflected in our quarter end balance of cash and cash equivalents, which declined slightly to US$253.9 million, as compared to US$258.5 million in the first quarter, primary due to the planned costs associated with our ongoing real estate portfolio development."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "Despite the lower revenues level at which we have been operating, we are very optimistic about TechFaith's prospects. There is a fundamental shift going on in the dynamic mobile market. Large dominant brands are no longer able to control all local markets. The pendulum has swung back in favor of local brands being able to make inroads with competitively priced, value-added offerings. We are seeing this in our domestic China market and other key markets worldwide. For TechFaith, we expect the competitive environment to remain very challenging for the foreseeable future. We understand, however, that we can make inroads above our current lower revenue level by leveraging our design expertise, market knowledge and close customer relationships. Areas where we have been at the forefront - including our branded ruggedized smartphones and perfecting features like dual-SIM capacity, better camera capabilities and a variety of healthcare applications - give us a window of opportunity on which we can capitalize. For example, we are optimistic that shipments for our new ruggedized models will increase over the next few quarters given the uniqueness of our integrated hardware and software. Finally, we continue our efforts in developing our branded Smart ruggedized devices in the domestic China market through above and below the line advertisements, as well as new social media platforms."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "The continued challenging competitive market is masking our continued progress on the development of our real estate portfolio and the value of our core handset business. We have navigated widespread industry and business shifts in the past. By focusing on our core market strengths and the needs of customers and carriers we serve worldwide, we have built TechFaith as a global brand that is equated with excellence in design and superb handset performance. We remain flexible in navigating the challenging market and focused on keeping operating costs lean, while maintaining a very strong balance sheet. We are optimistic about our long-term prospects despite our current lower revenue level. We have several promising product upgrades and new launches in the pipeline, including our planned entry later this year into the wearables market with a ruggedized sports watch. We also plan to expand and extend the success of our ruggedized product line by developing a ruggedized extreme camera. This is particularly exciting for us as we can offer a complete line of ruggedized solutions to our clients."

Third Quarter of 2014 Outlook

The forecast below is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenues for the third quarter of 2014 to be in the range of US$22.0 million to US$24.0 million.

NEW YORK, August 19, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has executed an agreement to acquire all of the equity of Longhe Ship Management (Hong Kong) Co., Limited ("LSM"), in a move to broaden Sino-Global's service platform and gain expertise in the ship management business. In connection with the acquisition of LSM, Sino-Global appointed Mr. Africa Li, who has more than 30 years of experience in the shipping industry, as its new Chief Technology Officer.

Sino-Global's agreement to acquire all of the equity of LSM from Mr. Deming Wang will result in the issuance of up to 200,000 shares of Sino-Global's common stock to Mr. Wang as payment for LSM, depending on the net income of LSM from July 4, 2014 through December 31, 2014. The agreement is expected to close in the near future, subject to certain conditions, including the obligation of Sino-Global to notify the NASDAQ Capital Market and, if necessary, request shareholder approval for such issuance prior to completion of the transaction.

Sino-Global has also appointed Mr. Africa Li as its new Chief Technical Officer. Mr. Li served as the assistant to the president (Mr. Deming Wang) of Qingdao Zhenghe Shipping (Group) Co., Ltd. from May 2010 through present. Before that, from August 1982 through April 2010, Mr. Li was a shipbuilding supervision engineer and ship management technical supervisor for Qingdao Marine Shipping Company.

Mr. Lei Cao, Chief Executive Officer of Sino-Global, said, "We are excited to enter into the ship management business and look forward to combining our experience managing shipping logistics and serving as a shipping agent with expertise of LSM in managing ships. Our cooperation with Mr. Wang and his shipping-related companies in recent months has now allowed us to expand into serving commercial ships even more directly. We look forward to Mr. Li joining our team and bringing to Sino-Global a career dedicated to shipping industry for more than thirty years."

Mr. Deming Wang echoed Mr. Cao's thoughts, "I am pleased to continue to strengthen Zhenghe's and my relationship with Sino-Global, particularly as Sino-Global expands its footprint and service capabilities along the value chain of the shipping industry."

BEIJING, July 22, 2014 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it will launch its 6^th generation ruggedized smartphone, the "A6", targeted to the mass market in the fourth quarter of 2014.

TechFaith's ruggedized A6 has a thickness of 12 mm and is certified with IP68 and MIL-810G standards. It features a 5.0 inch high resolution LCD based on 2^nd Generation Gorilla Glass, is equipped with a 13.0 mega pixel rear camera. The A6 operates on a powerful Quad Core CPU and comes with many useful pre-installed outdoor applications.

Mr. Deyou Dong, President and COO of TechFaith, said, "We are excited about the A6 launch. This is a technically strong smartphone with the high added value of being ruggedized. We have found that demand for our ruggedized phones is consistent in any market we enter due to the unique durable design. By leveraging TechFaith's history of design expertise, we were able to significantly reduce both the weight and thickness of our base model ruggedized offering, while maintaining the quality and durability the phones are known for. The result is what we hope will become a ruggedized phone for the mass market, as the sleeker form factor will make it an ideal option for consumers. Given the differentiated position and potential for the new A6, we are taking an even more aggressive promotion and marketing support strategy. This will include advertising in Mainland China on broadcast TV, in printed magazines, and on various airlines and high speed trains."

First quarter 2014 Financial Results

• For the first quarter of 2014, TechFaith reported net revenue of US$26.2 million compared to US$31.2 million in the fourth quarter of 2013 and US$28.2 million in the first quarter of 2013.
• Net loss attributed to TechFaith for the first quarter of 2014 was US$2.9 million or US$0.05 loss per basic and diluted weighted average outstanding ADS, compared to net loss of US$2.1 million in the fourth quarter of 2013 or US$0.04 loss per basic and diluted weighted average outstanding ADS and net income of US$0.3 million in the first quarter of 2013 or US$0.01 per basic and diluted weighted average outstanding ADS.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "Revenue in the first quarter was affected by our ongoing strategic shift in our gaming business and the industry-wide impact of seasonality on the smart phone and branded phone markets. We expect the situation to remain challenged as the second quarter is normally a softer period for the industry. Importantly, we continue to carefully manage our operating costs and discretionary spending, while maintaining a strong balance sheet to support the Company's long-term health. We reduced operating expenses by an additional US$2.5 million, or 28.0%, compared to the fourth of 2013. Our cash and cash equivalents was US$258.5 million at the end of first quarter 2014."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "The impact from seasonality was magnified by continued higher competition and higher costs. Our focus remains on sustaining our core product programs, supporting customers with new tailored mobile devices and exploring new market segments in which we can leverage our design expertise and global reach. One example is in smart devices, where our sales increased by 260% compared to the previous quarter. While this is growing off a small base, it exemplifies the potential opportunities we are building on."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "While the first quarter remained challenging, we nonetheless worked hard to lessen the impact of seasonality, mix and the ongoing strategic shift in our gaming business. Our core business remains challenged and stressed but there is still a far greater asset value we have created than that reflected in the Company's share price. Our goal remains to build upon our strength in the niche and branded mobile segments. We have seen several applications that while in their infancy have considerable potential. For example, there has been great interest from both consumers and developers in the wearable segment. This is particularly exciting for us as we can leverage our extensive development assets, including in ruggedized and tailored products. We are working with customers on a variety of potential devices, spanning the health and healthcare markets to fitness and outdoors. Separately, we remain on track in the development of our High-Tech Park Campus."

Second Quarter of 2014 Outlook

The forecast below is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenues for the second quarter of 2014 to be in the range of US$22million to US$26 million.

BEIJING, April 9, 2014 /PRNewswire/ -- China TechFaith Wireless Communication Limited (NASDAQ:CNTF), today announced it will commence shipments of it ruggedized Android JNote into European markets in the second quarter of 2014.

TechFaith's powerful ruggedized JNote is certified with IP68 and MIL-S810G standards. It was designed on the robust Android operating system operating on QUAD Core CPU and runs on WCDMA/GSM networks, with IP68 and MIL-S810G standards certifications. Its features a 6.0 inch, 1080P high-definition LCD screen with 2^nd Generation Gorilla Glass, water resistance up to 1.5 meters and dust resistant, giving users the ability to operate in extreme temperatures. Dual sim card support, long batter life, a high resolution 13.0 MP rear camera, and 802.11a/b/g/n wireless LAN and Wi-Fi Direct allow users Internet access nearly everywhere in the diverse environments encountered on a daily basis and on sporting or leisure activities.

Mr. Deyou Dong, President and COO of TechFaith, said, "Our ruggedized JNote is a powerful entertainment, communications and computing device in a highly durable package. Consumers continue to demand the large screen and slim form factor. We have continued to enhance our Note family by leveraging the hottest features from each earlier design, while adding in new value add features allowed by the Android Jelly Bean operating system, including our integrated outdoor applications. This approach continues to differentiate our products in the marketplace and provides us with a distinctive advantage in both the retail and enterprise segments."

Fourth quarter of 2013 Financial Results

• Revenues of US$31.2 million compared to US$29.9 million in the third quarter of 2013.
• Net loss attributed to TechFaith for the fourth quarter of 2013 was US$2.1 million or US$0.0390 per basic and diluted weighted average outstanding ADS compared to net income of US$0.3 million orUS$0.0049 per basic and diluted weighted average outstanding ADS in the third quarter of 2013.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "2013 was another very challenging year. Our business continued to be negatively impacted by competition in the mobile phone markets we serve, and continually changing customer demands in the gaming business. Given this difficult environment, we focused on strict operating controls to help us weather the market volatility, reducing operating expenses by 29.2% for the full year 2013 compared to the full year 2012. Importantly, we exited 2013 with a balance of cash and cash equivalents of US$265.6 million. Our balance sheet continues to give us the ability to pursue the long-term business initiatives and strategies that are central to our Company's success, including the ongoing development of our real estate portfolio, even with higher levels of competition and the continuing market volatility in mobile and gaming businesses."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "While the market environment remains very challenging and difficult to forecast, our focus is on working with existing customers to develop potential opportunities in bothChina and in the markets we serve worldwide. We do not expect to see the business conditions materially improve over the near-term. That said, we are seeing some positive movement in our mobile phone business, which depending on the timing of customers' orders could potentially become revenue generating for TechFaith later this year. The opportunities we are focused on are those where TechFaith has competitive advantages: lower volume, higher feature value content, and tailored design offerings. This encompasses our popular ruggedized lines, as well those catering to the certain sports and healthcare needs. We will continue to develop and launch more ruggedized and tailored models to satisfy the demands of both domestic and international clients, as well as enterprise solutions targeting specific industries."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "We continued to focus on our core areas of offering high level ruggedized mobile phones throughout 2013. In addition, we have also expanded into different ruggedized products categories such as 'Extreme Digital Camera,' 'Extreme Smart Watches' and 'Ultimate Smart Headphones'. This has allowed us to support customers with complex and unique needs that larger handset companies were not suited to provide. We have taken an even more cautious approach over the past year to ensure our long-term success. Our focus remains on creating long-term value for both TechFaith and our shareholders. In-line with this view, we have maintained a strong balance sheet and not pursued dilutive acquisitions that would only serve as costly distractions. Instead, we made further progress on the development of our High-Tech Park campus. In Hangzhou, two buildings have been completed. In Beijing 16 buildings are on track to be completed by the fourth quarter of 2014. Overall, we expect that the above positive catalysts in our business will ultimately lead to the creation of value for both TechFaith and our shareholders."

First Quarter of 2014 Outlook

TechFaith currently expects its total revenues for the first quarter of 2014 to be in the range of US$28.0 million to US$30.0 million. The forecast represents TechFaith's current and preliminary view, which is subject to change.

BEIJING, January 14, 2014 /PRNewswire/ -- China TechFaith Wireless Communication Limited (NASDAQ:CNTF) ("TechFaith" or the "Company"), today announced it will expand shipments of it ruggedized Android JPAD into Russia and South Africa in early February of 2014.

TechFaith's JPAD ruggedized PAD, was designed on the robust Android operating system operating on QUAD Core CPU and runs on WCDMA/GSM networks, with IP68 and MIL-S810G standards certifications. It features a 7.0 inch LCD screen with 2^nd Generation Gorilla Glass, is dust resistant and water resistant up to 1.5 meters, and able to operate in extreme temperatures. TechFaith's JPAD is a dual sim card device, with an ultra-long battery life of 6000mah.

Mr. Deyou Dong, President and COO of TechFaith, said, "We continue to find very encouraging demand for our ruggedized mobile phones and JPADs in both the retail and enterprise segments. Consumers are reluctant to make an investment on a new device knowing that it will likely be dropped, cracked, broken or severely damaged - often within just hours or days of purchase. By offering ruggedized versions, TechFaith is giving consumers the powerful technology experience and features they demand with the durability they need. The combination represents a value added offering to the market and one benefiting from increased traction in our domestic China market and in vibrant international markets, including Russia and South Africa."

BEIJING, January 7, 2014 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced the launch of its 5^th generation ruggedized Android smart phone, "Thunder", with late January shipments scheduled for Europe and the Middle East for both the retail and enterprise segments.

"Thunder" is TechFaith's 5^th generation ruggedized smart phone model and is certified with IP68 and MIL-S810G standards. Thunder features a vivid 4.5 inch LCD screen with 2^nd generation gorilla glass. Thunder was designed with a powerful quad core CPU, able to operate in extreme temperatures, comes pre-loaded with value-added outdoor applications and supports dual SIM dual standby.

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "We are very proud to launch our 5^th generation ruggedized smart phone. Thunder represents the best innovations from our prior models along with some exiting new features. Importantly, we designed Thunder with all the rugged toughness users loved in our earlier Titan and Giant models, but it has an enhanced, slimmer, sleeker form factor. We are optimistic about the market opportunity for Thunder given its tailored feature set and targeted design. We continue to view these value added, niche domestic and international handset segments as sustainable."

Third quarter 2013 Financial Results

• Net revenue of US$29.9 million, a decrease of 0.9% compared toUS$30.2 million in the previous quarter.
• Net income attributed to TechFaith for the third quarter of 2013 was US$0.26 million or US$0.00 per basic and diluted weighted average outstanding ADS, compared to net loss ofUS$0.97 million or US$0.02 loss per basic and diluted weighted average outstanding ADS in the previous quarter and net income of US$0.88 million or US$0.02 per basic and diluted weighted average outstanding ADS in the third quarter of 2012.

Ms. Ouyang Yuping, TechFaith's Chief Financial Officer said: "We were able to achieve positive net income in the third quarter, reversing the loss from the prior quarter despite revenue being about the same level quarter to quarter. An increase in demand in our ODP business helped to offset declines in our Game segment. Importantly, we benefited from a more favorable product mix. As a result, our gross margin improved to 16% in the third quarter from 11%. We think there is additional room for improvement as we focus on expanding our revenue derived from niche mobile phone markets, where customers are seeking tailored, more specialized product offerings. This includes our medical and ruggedized products lines. We remain focused on reducing costs where possible and closely managing our operations to gain added efficiencies where possible. This strategy, combined with our improved margin, helped us to increase our balance of cash and cash equivalents to US$267 million at the end of the third quarter of 2013 compared toUS$258 million at the end of 2012."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "The overall operating environment remains highly competitive and dynamically changing. This creates challenges and opportunities from a product development standpoint, given evolving customer demand levels. For TechFaith, we have determined a significant, sustainable opportunity within this environment is for tailored, niche phones. Many of the features we have been pushing forward, including ruggedized models and the convergence of value added healthcare functions into mobile phones, are now being adopted by some of the largest handset manufacturers given the validation of market demand. We expect to further build on these opportunities in the coming quarters, as we work to capitalize on interest seen at the recent Gitex Technology Week in Dubai, and in other markets. We also plan to introduce additional, value added outdoor applications to integrate with our mobile devices to provide a more holistic experience for the end consumers."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "We continue to focus on best positioning our mobile phones to address higher margin niche opportunities. This strategy is allowing us to more effectively deploy development and production resources, and to improve profitability on a lower revenue level. In our gaming segment, the challenges have been greater than seen when our motion gaming business was expanding several quarters ago. We still believe there are opportunities to create value in the gaming business, within software and mobile platforms, in order to expand our existing customer base. Separately, we continue to move forward with the development of previously announced facilities. Our focus remains on balancing this portfolio with facilities needed for our own operations and those that can be potentially leased or sold to third parties as we seek to increase value for our shareholders."

Fourth Quarter of 2013 Outlook

TechFaith currently expects total revenues for the fourth quarter of 2013 to be in the range of US$28.0million to US$32 million. This forecast is TechFaith's current and preliminary view, which is subject to chan

• Revenue in the second quarter of 2013 derived from the Company's Original Developed Product (ODP) was US$20.1 million compared to US$14.5 million in the first quarter of 2013 and US$13.5 million in the second quarter of 2012. 
• Gross profit for the second quarter of 2013 was US$3.4 million compared to US$4.6 million in the previous quarter and US$7.3 million in the second quarter of 2012.
• Net loss attributed to TechFaith for the second quarter of 2013 wasUS$0.97 million or US$0.02 loss per basic and diluted weighted average outstanding ADS, compared to net income of US$0.3 million or US$0.01 per basic and diluted weighted average outstanding ADS in the previous quarter and a net loss of US$0.7 millionor US$0.01 loss per basic and diluted weighted average outstanding ADS in the second quarter of 2012.

Ms. Ouyang Yuping, TechFaith's Chief Financial Officer, said, "While revenue for the second quarter was in line with our guidance, our gross margin was lower than expected as a result of  the negative impact of competitions from the market. We would expect to see improvement in our gross margin in the third quarter. Demand in our ODP business was able to offset declines in both our Brand name phone sales and game business. This volatility is a continuation of the difficult business environment we have been navigating, with high competition in both domestic and international markets, shorter product lifecycles and lower average selling prices. While our balance of cash and cash equivalents remained robust at US$257.7 million it reflects a decline of about US$3.5 million compared to the prior quarter. The slight decline is primarily due to capital expenditure on equipment and facility constructions."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "We continue to see demand for our popular ruggedized phones. As a result, we launched several new models this year, and have received positive feedback. We are optimistic that shipments for the new ruggedized models will increase over the next few quarters given the uniqueness of the integrated hardware and software. The phone meets demands from a specific segment of the market and allows us to have more stability over our pricing. We are working to leverage our success with the ruggedized line into other niche models where market demand is not being presently met. We also continue to draw on our expertise to provide customized enterprise solutions for our customers and continue to develop our 17Fox brand in the domestic China market. In line with this strategy, we acquired some additional application software during the second quarter."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "The market remains highly competitive with new features quickly adopted by other handset developers. Our focus on niche opportunities gives us a more defensible market position but the unit volumes are much lower than those in popular mass market designs. This makes it critical that we maintain close relationships with our customers in order to meet their changing needs. We are confident that we can be successful in our approach but do not expect to see a rebound in our revenue to our higher historical levels over the near-term. Rather, we are focusing on driving improved profitability at the lower revenue level, and further strengthening our balance sheet. We also remain optimistic about the development of our facilities, which remain on track, as seen by the increased asset level on our balance sheet in terms of construction in progress and property value held."

Third Quarter of 2013 Outlook

The forecast below is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenues for the third quarter of 2013 to be in the range of US$29.0 million to US$33.0 million.

First Quarter 2013 Financial Results

• Net revenues of US$28.2 million, compared to US$31.0 million in the fourth quarter of 2012 and US$42.7 million in the first quarter of 2012.
• Revenues in the first quarter of 2013 from the Company's gaming segment declined by US$3.9 million compared to the fourth quarter of 2012 and declined by US$4.8 million compared to the first quarter of 2012.
• Gross profit for the first quarter of 2013 was US$4.6 million compared to US$5.9 million in the fourth quarter of 2012 and US$10.8 million in the first quarter of 2012.
• Net income attributed to TechFaith for the first quarter of 2013 was US$0.3 million or US$0.01 per basic and diluted weighted average outstanding ADS, compared to a net loss of US$3.0 million or US$0.06 loss per basic and diluted weighted average outstanding ADS in the fourth quarter of 2012, and a net loss of US$0.4 million or a US$0.01 loss per basic and diluted weighted average outstanding ADS in the first quarter of 2012.

Ms. Ouyang Yuping, TechFaith's Chief Financial Officer, said, "Revenues in the first quarter was in line with our previously issued guidance for the quarter, despite continued headwinds from higher competition and the significant decline of business in our gaming segment. While manufacturing costs have increased, we remained diligent in our efforts to absorb all fixed costs and to reduce operating costs where possible. As a result, we were able to achieve profitability in the first quarter of 2013 despite the lower revenues base. We also remain focused on maximizing our free cash flow; our cash and cash equivalents increased by US$3.2 million in the first quarter of 2013, raising our balance of cash and cash equivalents to US$261.2 million."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "We believe the first quarter will come to represent a low turning point for our sales in 2013. This year, the impact from seasonality was magnified by continued higher competition and higher costs. We finished the first quarter with some encouraging signs as the units of shipment in our ODP segment increased compared to the fourth quarter of 2012. Separately, our operating expense had a reduction of US$5.5 million, or 57%, compared to the first quarter of 2012. We will continue to work to build on our unit shipment momentum in the second quarter as we continue to work with customers to provide the tailored mobile solutions they need, while also working to further reduce our operating expenses as much as possible."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "We continue to work to best position TechFaith for success in the face of higher competition and higher unit costs in the mobile segment. We remain focused on higher margin niche opportunities and are working closely with our enterprise customers worldwide to achieve this goal. We think that this is the right business strategy for our mobile business. In our gaming segment, we have shifted our business model away from hardware sales to focus on software and mobile platforms in order to expand our existing customer base. When these business segments eventually return to more healthy levels of revenues, we will be able to improve overall profitability given our reduced operating expenses. We also continue to prudently move forward with the development of facilities, currently represented on our balance sheet by the US$10.6 million in land use rights and the US$38.9 million in construction in progress balance at the end of the first quarter of 2013. We will evaluate our development program as we move forward with the ability to use facilities for our own operations or to potentially lease or sell such facilities to third parties as we seek to increase value for our shareholders."

Second Quarter of 2013 Outlook

The forecast below is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenues for the second quarter of 2013 to be in the range of US$28.0 million to US$33.0 million.

BEIJING, October 24, 2012 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that it has filed suit against Samsung Telecommunications (Tianjin) Ltd for patent infringement in the People Republic of China (Beijing) courts. To date, the China Patents Committee has acknowledged that TechFaith's mobile phone patent (patent number 2008101134154) is effective and relevant in this current matter.

Mr. Deyou Dong, President and COO of TechFaith, said, "We have invested heavily in research and development over the years to build an extensive product catalog backed by a highly defensible intellectual property portfolio. In the case of Samsung, we are taking legal action after establishing applicability of our patent number 2008101134154, which we believe is being infringed upon in Samsung's GT-B7732 model mobile phone. We intend to aggressively pursue all remedies possible in this and in any other future instances of patent infringement in defense of our highly valuable intellectual proprietary portfolio."

Unaudited financial results for the second quarter ended June 30, 2012.

• Revenue  US$32.4 million compared to US$42.7 million in the first quarter of 2012 and US$82.8 million in the second quarter of 2011. This is in line with the Company's prior guidance for revenue in the second quarter of 2012 to be in the range of US$32.0 million to
• US$36.0 million.  Gross profit for the second quarter of 2012 was US$7.3 million, compared to US$10.8 million in the first quarter of 2012.
• Gross margin for the second quarter of 2012 was 22.6%, compared to 25.4% in the first quarter of 2012. The decline in gross margin is mainly due to lower revenue and pricing pressure resulting from the competitive environment.
• Net loss attributed to TechFaith for the second quarter of 2012 was US$0.7 million or US$0.01 loss per basic and diluted ADS, compared to a net loss of US$0.4 million or US$0.01 loss per basic and diluted ADS in the first quarter of 2012.

Miss Ouyang Yuping, TechFaith's Chief Financial Officer, said, "Revenue in the quarter came in at the lower end of our guidance due to continued weakness in our ODP and branded mobile phone business. We expect that the mobile phone business environment will remain extremely difficult in the near-term. The impact of lower revenue in the quarter and increasing competition again impacted our gross margin and resulted in a net loss for the quarter. We continue to evaluate and work to adjust our resources to better meet the current challenging business environment."

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said, "Our focus remains on developing unique smart phones and mobile devices targeting niche and enterprise segments. We understand the market and our business is in a period of contraction. We remain focused on working closely with customers to develop the tailored solutions they need. TechFaith's ability to service these market segments will ultimately help us stabilize our business level and return to both revenue growth and profitability."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "As part of our ongoing strategic review and efforts to restore our business growth, we have started to shift our gaming business focus from hardware sales to software packages and applications. We believe that these changes will help us strengthen our user base and ultimately revitalize this business segment."

Third Quarter of 2012 Outlook

The below forecast is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenue for the third quarter of 2012 to be in the range of US$ 30.0 million to US$ 35.0 million.

First Quarter 2012 Results

• For the first quarter of 2012, TechFaith reported net revenue of US$42.7 million compared to US$81.7 million in the fourth quarter of 2011 and US$78.7 million in the first quarter of 2011.
• Net loss attributed to TechFaith for the first quarter of 2012 was US$0.4 million, or a US$0.01 loss per basic and diluted weighted average outstanding ADS, compared to net income of US$2.7 million, or US$0.05 per basic and diluted weighted average outstanding ADS in the fourth quarter of 2011, and net income of US$13.8 million or US$0.26 per basic and diluted weighted average outstanding ADS in the first quarter of 2011.

Ms. Ouyang Yuping, TechFaith's Chief Financial Officer, said, "We had an extremely challenging quarter for our business as lower demand in our Original Developed Product (ODP) segment, combined with our fixed operating costs structure, resulted in a net loss for the quarter. Our operating structure is able to support revenues considerably higher than US$100 million per quarter, which results in absorption issues with the current lower revenue levels. We are working to better align our resources to the current business environment, including potential cost reduction measures. "

Mr. Deyou Dong, President and Chief Operating Officer of TechFaith, said "Our focus is on continuing to develop commercially attractive mobile phones and phones targeting niche segments, like our ruggedized outdoor smart phones. We will continue to work to expand our sales volumes through our unique ruggedized smart phones and our branded mobile phones business which can contribute to our long-term strategy."

Mr. Defu Dong, Chairman and Chief Executive Officer of TechFaith, said, "For our game business, we intend to focus on strengthening and building up our customer base. We have successfully navigated business cycles before and are confident we can adjust our business to current demand levels."

Second Quarter of 2012 Outlook

The below forecast is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenue for the second quarter of 2012 to be in the range of US$32.0 million to US$36.0 million.

BEIJING, March 29, 2012 /PRNewswire-Asia/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced it will further expand shipments of its Android smartphones into Hong Kong, South Africa and Latin America during the first half of 2012.

Specifically, the Company is scheduled to ship its Titan model, a rugged Android smartphone, to distribution partners in Hong Kong and South Africa in the first and second quarters of 2012, respectively.

TechFaith is also scheduled to ship its rugged Titan Android smartphone to a leading Wireless Mobile Phone Network Operator in Latin America in the second quarter of 2012.

TechFaith's Titan is a WCDMA/GSM 3.5G rugged Android Smart phone featuring 3.5 inch WVGA capacitive touch screen, shock resistant, 1 meter water resistant, 5.0 mega pixel rear camera, supports dual sim cards, WIFI and more.

Mr. Deyou Dong, President and COO of TechFaith, said, "We continue to see steady demand for our rugged smartphone long after its formal introduction. The model has established a longer than typical lifecycle driven by wireless mobile phone mobile carriers, distribution partners and end users because of its unique value proposition which addresses a market need that remains unserved. Our Titan is a rugged but sleek, fully functioning smartphone. Its Android architecture gives users the high quality voice they are used to with the rich functionality of a smartphone. Our ability to consistently offer value added and unique products clearly differentiates us in the market worldwide and provides us with a distinctive advantage."

Fourth Quarter 2011 Results

• For the fourth quarter of 2011, TechFaith reported net revenue of US$81.7 million, a 6.2% increase compared to US$76.9 million in the fourth quarter of 2010
• Net income attributed to TechFaith for the fourth quarter of 2011 was US$2.7 million or US$0.05 per basic and diluted weighted average outstanding ADS, compared to US$8.9 million or US$0.17 per basic and diluted weighted average outstanding ADS in the fourth quarter of 2010.

Ms. Ouyang Yuping, TechFaith's chief financial officer, said, "We continue to focus on business opportunities in the ODP, branded mobile phone and gaming markets. We are working to put the appropriate resources in place to support the areas of our business that have the highest potential, while also actively managing our operating expenses. Our strong balance sheet gives us the continued ability to support the long-term business initiatives and strategy central to our long-term success, despite continued expected near-term market weakness."

Mr. Deyou Dong, President and chief operating officer of TechFaith, said, "We have made considerable headway in our efforts to establish TechFaith as a globally recognized brand. Our success is evidenced by the geographic mix of our revenue 2011, with shipments of our phones to diverse markets including China, South East Asia, Europe, Latin America and Japan. We continue to gain attention due to the value prospect we offer with tailored phones and compelling enterprise solutions. Our history of design expertise allows us to move quickly and to deliver the technically sound, tailored solutions that customers are seeking."

First Quarter 2012 Outlook

The following forecast reflects the expected material impact of seasonality in the first quarter of 2012. The forecast is TechFaith's current and preliminary view, which is subject to change. TechFaith currently expects total revenue for its ODP, branded and gaming businesses to be in the range of US$41 million to US$45 million in the first quarter of 2012. The anticipated decline from the fourth quarter of 2011 and recent revenue levels is driven primarily by the expected material impact of seasonality in the first quarter, combined with higher competition and expected lower overall demand for its ODP and branded mobile phone business.

Third Quarter 2011 Results

• For the third quarter of 2011, TechFaith reported net revenue of US$80.6 million, a 17% increase compared to US$68.6 million in the third quarter of 2010
• Net income attributed to TechFaith for the third quarter of 2011 was US$3.3 million or US$0.06 per basic and diluted weighted average outstanding ADS, compared to US$4.5 million or US$0.09 per basic and diluted weighted average outstanding ADS in the third quarter of 2010

Ms. Ouyang Yuping, TechFaith's CFO, said, "We were able to achieve revenue above the high-end of our prior guidance in a weaker global economic environment and under the increased pricing pressure in several of the markets we serve. Higher demand levels for Android-based mobile phones and continued developments in our branded mobile phone business and motion gaming business helped us to partially offset the market pressure. We are pleased that we were able to keep our gross margin relatively stable at 24% despite such uncertain market conditions. This performance reflects the success of our higher margin branded mobile phone and motion gaming businesses. In addition, we remained focused on cost control and operating efficiencies, which helped us to further strengthen our balance sheet due to the continued healthy cash flow from our operations. We ended the third quarter of 2011 with US$4.46 per ADS in cash and cash equivalents compared to US$4.17 per ADS at the end of the second quarter of 2011."

Mr. Deyou Dong, President and COO of TechFaith, said, "We are pleased with the continued success we are having in various markets worldwide. Our ability to tailor mobile solutions in the enterprise and branded market is a competitive advantage for TechFaith, which led to additional orders for our leading Android-based smartphone models in South East Asia, Latin America, Japan and domestic China market. We further strengthened our product line-up with the launching of several innovative new models, including Titan, Tracker, PAD, Qphone and Eagle, in the third quarter of 2011. All are Android-based 3G smartphones. Additionally, we have leveraged the success of our TecFace-branded mobile phone business beyond China and extended into the international market with the well-received launching of new products and stronger marketing support. Our efforts have positioned TechFaith for long-term business success."

Fourth Quarter of 2011 Outlook

The fourth quarter 2011 outlook reflects TechFaith's current and preliminary view, which is subject to change. Based on current market conditions, the Company expects its revenue for the fourth quarter of 2011 to be in the range of US$78 million to US$81 million, with gross margin levels similar to those for the third quarter of 2011.

Mr. Defu Dong, Chairman and CEO of TechFaith, added, "We entered the fourth quarter in a very solid financial position which can help us navigate our course among continued market volatility. We continue to build momentum with customers in our mobile solutions business, branded mobile phone business and motion gaming business. We believe that our efforts would more readily translate to growth in our financial results when the broader market environment improves. We will remain conservative in our outlook and approach and maintain strict cost controls in light of the uncertain global economic environment. At the same time, we will continue to invest in the research and development and sales and marketing efforts that are critical to the support of our customers and brands while focusing on profitability. Strategic investments made in our business today will, we expect, fuel our growth when the market situation improves, as has happened in previous market cycles."

Second Quarter 2011 Results

• For the second quarter of 2011, TechFaith reported net revenue of US$82.8 million, a 26% increase compared to US$65.5 million in the second quarter of 2010
• Income from operations for the second quarter of 2011 was US$10.0 million, an 18% increase compared to US$8.5 million in the same quarter last year
• Net income attributed to TechFaith for the second quarter of 2011 was US$7.3million or US$0.14 per basic and diluted weighted average outstanding ADS, compared to US$7.5 million or US$0.16 per basic weighted average outstanding ADS and US$0.11 per diluted weighted average outstanding ADS in the second quarter of 2010, compared to US$13.8 million or US$0.26 per basic and diluted weighted average outstanding ADS in the first quarter of 2011

BEIJING, June 8, 2011 /PRNewswire-Asia/ -- China TechFaith Wireless Technology Limited (NASDAQ: CNTF) ("TechFaith") today announced it will launch six Android-based smartphones in the third quarter 2011 under its TecFace brand.

We believe that our current cash and cash equivalents and cash flow from operations will be sufficient to meet our anticipated cash needs, including our cash needs for working capital and capital expenditures for the next 12 months. We may, however, require additional cash resources beyond the next 12 months due to higher than expected growth in our business or other changing business conditions or future developments, including any possible investments or acquisitions.

Our capital expenditure plan for 2011 is US$3.1 million, which primarily consists of the purchase of license and equipment and construction of buildings in Hangzhou and Beijing.

First Quarter Results:

• For the first quarter of 2011, TechFaith reported net revenue of US$78.7 million, a 29% increase compared to US$60.9 million in the first quarter of 2010, and a 2% increase compared to US$76.9 million in the fourth quarter of 2010.
• Income from operations for the first quarter of 2011 was US$15.8 million, a 151% increase compared to US$6.3 million in the same quarter last year, and a 31% increase compared to US$12.1 million in the previous quarter.
• Net income attributed to TechFaith for the first quarter of 2011 was US$13.8 million or US$0.26 per basic and diluted weighted average outstanding ADS, compared to US$7.1 million or US$0.15 per basic weighted average outstanding ADS and US$0.07 per diluted weighted average outstanding ADS in the first quarter of 2010, compared to US$8.9 million or US$0.17 per basic and diluted weighted average outstanding ADS in the fourth quarter of 2010.

Ms Ouyang Yuping, TechFaith's CFO, said "This was another strong quarter for us. Our gross margin of 32% reflects the continued success in our sales of higher margin products to our ODP customers, growth in our branded mobile phone business and growth in our gaming business. Continued success in our brand name phone sales business was led by strong demand from customers in the China market. Importantly, we continue to strengthen our financial position in order to securely support the Company's future growth opportunities in the domestic China market and worldwide.  We ended the first quarter of 2011 with approximately US$4.06 per ADS in cash and cash equivalents."

The below forecast reflects TechFaith's current and preliminary view, which is subjected to change. TechFaith currently expects revenue for the second quarter of 2011 to be in the range of US$82.0 million to US$84.0 million, with gross margin levels similar to the first quarter of 2011.

BEIJING, May 16, 2011, /PRNewswire-Asia/ -- China TechFaith Wireless Technology Limited today announced it will establish a joint venture company with Beijing E-town International Investment and Development Co Ltd ("BEIID"), a PRC stated owned investment and financing company headquarter in Beijing Economic and Technological Development Area for a period of 30 years. This new joint venture arrangement replaces the previously announced contract between TechFaith and BEIID, signed in September 2010, under which BEIID was given an option to convert its interest in the convertible bonds into TechFaith ordinary shares over the next 5 years at the price of US$5.00 per ADS.

For this joint venture, TechFaith will invest RMB 300 million and BEIID will invest RMB 200 million for their previously announced the development of a 10 million-unit capacity smart phone production line in Beijing. TechFaith shall hold 60% of the shares and BEIID will hold the remaining 40% for the joint venture.

Mr. Li Xiao Ping, Executive Deputy General Manager of BEIID, commented, "We decided to replace the convertible bonds arrangement with a joint venture because we are looking more at the long term growth of the whole industry rather than short term gains, and a joint venture allows us to work more closely together for the long term. We believe with the increase coverage of 3G networks globally, the demand for smart phones will also increase."

Mr. Defu Dong, Chairman and CEO of TechFaith, said, "We appreciate the confidence and trust BEIID has expressed in Techfaith. The joint venture directly helps us in our goal of expansion and technology development. The additional capacity will also provide TechFaith a growth platform to meet the expected demand growth due to the fast increase in smart phone users globally. TecFace's rapid growth is in line with our expectations and we are confident that the smartphone business will continue to grow and become one of our major business segments."

BEIJING, April 7, 2011 /PRNewswire-Asia/ -- It was announced today that China TechFaith Wireless Technology Limited has received approval from the Beijing Daxing Government for the acquisition of approximately 140,000 square meters (approximately 34.5 acres) of land in XiHong Men, Daxing County for industrial purpose. The total value of the contract is value at approximately RMB 54 million (approximately US$8.25 million).

Mr. Defu Dong, Chairman and CEO of TechFaith, said, "Securing this additional tract of land gives us the flexibility needed to add to our state-of-the-art research and development capabilities, along with new trial production lines, and a sales and marketing center.  These expanded capabilities will help support the continued growth in our business as we continue to build TechFaith into a much larger company both domestically and internationally."

Fourth Quarter Highlights:

• For the fourth quarter of 2010, TechFaith reported net revenue of US$76.9 million, a 29% increase compared to US$59.8 million in the fourth quarter of 2009, due to strong growth of QIGI branded mobile sales, and strong growth in the Company's gaming business.
• Gross profit for the fourth quarter of 2010 was US$21.5 million, a 124% increase compared to US$9.6 million in the same quarter last year, due to the strong growth in the Company's QIGI branded mobile phone sales and its gaming business, both of which are higher gross margin businesses.
• As a result, gross margin for the fourth quarter of 2010 was 28.0% compared to 16.1% in the same quarter of 2009.
• Income from operations for the fourth quarter of 2010 was US$12.1 million -- a Company record level -- representing a 317% increase compared to US$2.9 million in the fourth quarter of 2009, due the above noted growth in the Company's higher gross margin businesses.
• Net income attributed to TechFaith for the fourth quarter of 2010 was US$8.9 million or US$0.17 per basic and diluted weighted average outstanding ADS, compared to US$3.1 million or US$0.07 per basic and diluted weighted average outstanding ADS in the fourth quarter of 2009.

Mr. Deyou Dong, President and COO of TechFaith in charge of the Company's mobile phone business, said, "We are pleased with the success of our mobile phone business. We continue to gain traction by supporting strong customer demand for our customized ODP mobile phones, QIGI branded phones for enterprise users and Disney phones for the consumer market. Of note, we are also seeing growth in diverse markets for our Android based smartphones, including China, India, Latin America, Europe and the United States."

The below forecast reflects typical seasonality in the first quarter and is TechFaith's current and preliminary view, which is subjected to change. TechFaith currently expects continued growth in its ODP, branded and gaming businesses, with total revenue in the first quarter of 2011 to be in the range of US$78.0 million to US$81.0 million.

BEIJING, Feb. 1, 2011 /PRNewswire-Asia/ -- China TechFaith Wireless Communication Technology Limited today announced that its wholly owned subsidiary, QiGi Future Technology Co., Ltd. (Beijing) ("QiGi") won an order from China Telecom and another order from the Jilin provincial police department. Initial units started shipping in January.

Under the first order, China Telecom selected QiGi for an EVDO-based mobile phone, specialized with infrared scanning capabilities for the enterprise customer segment. The first 5,000 units have been shipped to China Telecom. Under the second, initial shipments under the 12,550 unit order to the Jilin provincial police department started in January. The handset was jointly developed by QiGi and China Telecom.  The handset is customized for use by police departments, with state-of-the art capabilities, including finger print identification, identity card scanning, built-in printing and a payment function.

BEIJING,Jan. 6, 2011/PRNewswire-Asia/ -- China TechFaith Wireless Communication Technology Limited today announced that its Chairman and CEO, Mr.Defu Dong, purchased approximately 143,000 ADSs on the open market during the month ofDecember 2010.  As of December 31, 2010, Mr. Dong held ADS, ordinary shares and options exercisable to ordinary shares representing approximately 31.66% of the total outstanding ADS inChinaTechFaith Wireless.

Chairman and CEO, Mr. Dong, has indicated his intention to purchase additional ADSs through open market and privately negotiated transactions.  The timing and amount of such purchase transactions will depend on market conditions and corporate and regulatory considerations. 

Mr. Defu Dong, Chairman and CEO of TechFaith said, "I believe TechFaith is undervalued.  I decided to increase my ownership based on my confidence in the Company's market position and my belief in its continued growth prospects." 

On October 15, 2010, we issued an alert that we established a small position in China Techfaith Wireless @ $4.00.

As part of our diversification strategy, we are attempting to identify Chinese companies that may be able to avoid fraud "debates" initiated by short investors. Investing in once high profile ADR/ADS IPOs may be a way to approach this task.

In general, we have had little success investing in stocks similar to CNTF - those companies that design and manufacture private label cell phones sold to PRC and international OEM customers who offered products to the end customer.

Other ChinaHybrids that were in either the cell phone design or accessory business include faltering reverse merger firms T-Bay Holdings (OTC BB:TBYH) and Orsus Xelent Technologies (NYSE AMEX:ORS). Both of these companies never delivered sustained results. In fact, TBYH was the first pump and dump company we had encountered in the ChinaHybrid space. However, PRC based reverse merger firm Sinohub (NYSE AMEX:SIHI) claims to be making progress tackling this market by targeting demographics the big boys do not want.  On the U.S. side Forward Industries, Inc. (NASDAQ:FORD) made a few fleeting attempts to entice investors' appetites.

CNTF completed its initial public offering in May 2005 at around $16.00. Lackluster profit growth since its IPO led to a precipitous decline in its stock price to a low of $0.73 in November 2008.

The company's main revenue source was hit with a perfect storm of unfortunate circumstances.  Despite the high margins of its original design phone business (ODP), as evidenced by the 2005 data, opportunities did not materialize as expected.  The end result was a loss of customers and a deterioration in margins due the inability to cover expenses, something that its highly profitable segment was usually capable of.  CNTF also choose not to dramatically cut it employee head count.

Approximate non-GAAP Pre-tax Margins History:

• 2009: 6.4%
• 2008: 2.4%.
• 2007: loss
• 2006: loss
• 2005: 49.1%

So Why Are Some Investors Excited?

In response to its new reality, the company realized it needed a fresh way to drive revenues and revive margins, eventually leading to a decision to introduce its own line of branded phones. CNTF believes that this move will allow it to capture higher margins by selling upper end products directly to the customer. A heavy emphasis on smart phones also gives them exposure to an exploding market. We also learned that PRC consumers can use any carrier to activate their phones, thus creating market opportunities. The company will still maintain its private label business, but mainly for its international clients.

2009 20F Excerpts:

"In an effort to minimize the adverse effects of the global financial crisis and weakening economic conditions, we have strengthened our position through cooperation agreements with Beijing Huaqi Information Digital Technology Co., Ltd., or Beijing Huaqi, which owns “aigo”, a leading brand in consumer digital products market in China for the operator-tailored market in China, and with QIGI Technology for the smart phone business in China in 2008. These and similar strategic collaborations have helped and will continue to help promote our products in China and swiftly bring them to market. Under the strategic cooperation agreement with Beijing Huaqi, we will provide total solutions products, including CDMA1X/EVDO and UMTS/HSDPA, under the “aigo” brand name and through the sales channels of “aigo” for operator-tailored market in China."

"We put emphasis on the branding of our mobile handset products because branded products—especially products bearing well-known brands and images—offer a higher profit margin compared with other mobile handsets we sell. For instance, in the first quarter of 2010, we obtained control of QIGI Technology which becomes one of our variable interest entities. QIGI Technology is a company based in China and focused on the sale of smart phones. After the acquisition, QIGI Technology will operate largely independent of our existing operations; we intend to focus on promoting QIGI as an important Techfaith brand, with emphasis on QIGI brand smart phones."

"In February 2009, we launched, under the “aigo” brand name, nine new mobile phones designed specifically for the 3G network in China. The nine new models are from three different product lines which include dual mode GSM phones, modem card phones and DVDO phones. Of the five dual-mode GSM phones, three are WCDMA plus GSM phones designed for new China Unicom subscribers and two are CDMA plus GSM phones designed for China Telecom CDMA subscribers. There are two modem card phones, one of which utilizes a HSDPA modem card and the other uses an EVDO modem card. The final two models have GPS functionality and run on CDMA1X and EVDO. These nine different models cover CDMA1X, WCDMA, GSM and EVDO technologies and encompass a broad range of subscriber demands from the different telecom operators in China."

CNTF expects further growth from its 2008 entry into the mobile gaming business. Although this venture is not yet meaningful, it is expected to contribute to 2011 revenues.

"In 2008, we started to develop our online and mobile game business through One Net. One Net made significant progress in 2008, and set up Radiation studio, Star studio and Mythos studio to develop games. We also outsourced the development of online games to another independent studio and set up an in-house studio to design and develop mobile games. In 2009, we provided mobile game services and began to earn revenues in the fourth quarter of that year. We launched one MMORPG game in January 2010 and expect to launch more games during 2010. We expect an increasing portion of our revenues to come from this part of our business."

CNTF further believes that integrating mobile content into its phones will also increase the attractiveness to its commercial and retail customers.

So far, through the first nine months of 2010, financial results have begun to reap the benefits of restructuring efforts:

• Sales increased 26.2% to $195.0 million
• Adjusted earnings per ADS grew to $0.32 from $0.24.
• Adjusted pre-tax margins came in at 12.2%

Additional positives:

• Stock has held up in a challenging market 

• Sells below book value per share of $4.81

• Healthy cash per share of $3.70

• Entire company endorsing the company
  
  "China TechFaith Wireless Communication Technology Limited (Nasdaq: CNTF) ("TechFaith") today announced that 132 TechFaith employees, including directors and senior managers (the "Investors"), will invest a total of RMB 50 million in the company's games subsidiary, 798 Entertainment Limited. Mr. Defu Dong, Chairman and CEO of TechFaith and CEO of 798 Entertainment, said, "This investment reflects the high optimism and confidence our management team has in our games business strategy and future success. In addition, this direct investment in 798 Entertainment by our employees will further motivate our employees to achieve higher performance levels, as they will directly benefit from the success of 798 Entertainment."
  
• Investors show confidence:
  
  "IDG-Accel China Growth Fund II L.P. and IDG-Accel China Investors II L.P, holders of US$10 million aggregate principal amount of 8% senior secured convertible promissory notes issued by TechFaith's subsidiary Leo Technology Limited, now renamed 798 Entertainment Limited, in June 2009, have exercised their conversion rights under the Convertible Notes. Pursuant to the relevant investor rights agreement, each of the IDG Funds chose to convert 62.5% of its share of the principal amount of the Convertible Notes into TechFaith's ordinary shares, and the remaining 37.5% was converted into shares of 798 Entertainment Limited."
  
• Auditor: Deloitte Touche Tohmatsu

• Internal controls are in check

From our experience, the highest probability to capture gains with this type of story exists during the period of change, when a renewed focus leads to new sources growth. So, even if the plan fails long term, some investment gains can still be captured. But if growth continues as planned, maybe investors will assign a premium valuation to its shares on par with U.S. companies. Margins have a long way to go to approach historical levels which could lead to extended EPS gains as long as CNTF does not get dilution happy. Time will tell what the long-term future holds for CNTF, but given its current book value and cash per share, the story is worth tracking. The stock has a P/E of 8 on our expectations that it will report close to $0.50 for 2010. We still need to hammer out 2011 expectations.

Additional Considerations with the Help of GeoInvesting Member Rotobanco:

• Will CNTF now be competing against its OEM customers and will this impact relationships?

• Will there be an eventual patent infringement issue. The name of the new motion controller is 17wee.

• Why issue stock to buy Qigi? They had $120M in cash, their stock was selling in the 2 dollar range, and they bought the company with stock. The purchase price for QIGI was only $12.5M. So they could easily have paid cash. If the prior owners wanted stock in the new company that badly, they could have just bought it on the open market. Even more puzzling, the make good net income target for QIGI is $8M for 2010. Why did the owners sell this company for 1.56 times earnings with almost no cash in the deal?

• Due to the note conversion by IDG, CNTF will have an additional 6 million ADS shares outstanding.

• Bear in mind that they are a Chinese brand competing domestically. The Chinese consumers have choices such as Ericsson, Nokia, Apple, Blackberry. Why will they Choose "Qigi" in an environment where the Yuan is increasing in value, and higher-class foreign products are becoming cheaper in price.

• The existence of a $30 million convertible bond at 0.5% interest bond that converts at $5.00 anytime between now and 2015 could create some price resistance.  Note that it is with the government and the company has indicated it does not expect this to convert.

Short Q&A with management:

Q: From 2005 to 2009, there was an abrupt drop in earnings.

http://www.sec.gov/Archives/edgar/data/1316317/000114554907001176/h01318e20vf.htm

It appears that earnings still have not recovered to 2005 levels. What was the reason for that drop?

A: The main reason is because the market situation has changed from when we did a lot of design business which carries very high gross margins and in 2006 we lost our biggest customer (took up 70% of total revenues)- NEC which dropped the business in China. Overall, the design business from the big brand names were getting less and less.

Q: How much of the cell phones that you manufacture (both ODP and QIGI) end up in the hands of Chinese consumers as opposed to non-Chinese consumers?

A: From the revenues side: domestic market= 85.%; overseas market=15%

Q: In your power point from 1Q 2010, on page 13, the title says “QIGI – The Leading Smartphone Brand in China” Is that what your goal, or is that what is actually the situation right now? Is QIGI currently the leading smart phone brand in China?

A: It is our goal to be the leading brand in China. Currently, there are some resources to show that we are probably in the third place.

Q: You seem to carry a large cash balance. This has been true since the company went public. Does management plan to eventually deploy that cash balance? If so, how to they plan to deploy it?

A: The cash will strongly support our business future growth, such as for the ODP business cash flow for the smart phone business and our branded phone business. We may spend some of our cash on good potential M&A, marketing and sales activities. But we won't lower our cash position a lot.

For the third quarter of 2010, TechFaith reported 

• net revenue of US$ 68.6 million (RMB 464.3 million), a 30% increase compared to US$ 52.8 million (RMB 360.7 million) in the third quarter of last year.
• Gross margin for the third quarter of 2010 was 24% compared to 19% in the same quarter last year. Income from operations for the third quarter of 2010 was US$ 9.0 million (RMB 60.9 million), a 61% increase compared to US$ 5.6 million (RMB38.3 million) in the same quarter last year.
• Net income attributed to TechFaith for the third quarter of 2010 was US$ 4.3 million (RMB 29.1 million), compared to a loss of US$ 3.4 million (RMB 23.2 million) in the same quarter last year.
• Third quarter of 2010 results reflect the non-cash impact of a US$ 3.3 million loss due to IDG's conversion in the quarter of US$ 6.25 million convertible bonds into TechFaith ordinary shares and the remaining US$3.75 million into shares of TechFaith's gaming subsidiary 798 Entertainment, compared to a US$9.2 million non-cash loss in the same quarter last year as a result of change in fair value of derivatives associated with the convertible note.

• Non-GAAP EPS was $0.16 vs. $0.13

Ms. Ouyang Yuping TechFaith's CFO, said, "Revenue in the third quarter exceeded our prior guidance and reached another record level for TechFaith. In addition to the higher revenue levels, the successful implementation of our business strategy is resulting in a more stable gross margin. Continued growth in our branding business, QIGI, was led by strong demand for existing phone models, along with initial shipments of two new high end smartphone models into the China market. TechFaith remains in a position of operating strength with continued growth expected in each of our operating units, along with a continued strong balance sheet with approximately US$3.70 per ADS in cash and cash equivalents."

Mr. Deyou Dong, President and COO of TechFaith in charge of the company's mobile business said, "Our focus in the mobile business has been on market expansion and profitable unit growth.  To achieve this we have cooperated with global leading brands, built our enterprise business and acquired the QIGI branded phone business.   In the case of QIGI, total shipment volume increased 20% in the third quarter of 2010 compared to the second quarter of 2010. This improvement was driven by growth in the domestic smartphone market and demand from enterprise mobile phones users.  QIGI's fast growth is in line with our expectations and we expect our branded mobile phone business to become one of our major business segments.  To support the expected growth, we recently announced the planned addition of a major 10 million-unit capacity smartphone production line.  As for our ODP business, we expect continued stability in revenue and gross margin to continue from the China, India, South East Asia, Middle East and Latin America Markets."

Fourth Quarter 2010 Outlook

The below forecast reflects TechFaith's current and preliminary view, which is subjected to change. TechFaith currently expects revenue for the fourth quarter of 2010 to be in the range of US$ 74.0 million to US$ 77.0 million, with gross margin levels similar to the third quarter of 2010.

Looking forward, Mr. Defu Dong, Chairman and CEO of TechFaith added: "We expect further sequential growth based on the strength of our core ODP, branding and expanding gaming business, with increased business momentum in 2011."  

TechFaith currently expects revenue to be in the range of US$60 million to US$62 million for the first quarter of 2010. This forecast reflects TechFaith's current and preliminary view, which is subject to change.

The company reported first quarter 2008 sales of $48.7 million.

^a The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

^a Company forecasts reflect the Company's current and preliminary view and are subject to change.

The above forecasts reflect the Company's current and preliminary view and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

Guidance Report:

The Company expects revenues in the fourth quarter of 2008 to be in the range of US$43 million to US$48 million. The Smartphone products in China are the major revenue drivers for the fourth quarter and the overseas markets including South East Asian, European Union and Latin America will continue to drive revenue. TechFaith expects operating costs to be significantly lower in the fourth quarter due to cost saving measures and the completion of the corporate restructuring.