China Mobility Solutions Announces Record Sales and Growth for 2004
VANCOUVER, British Columbia, Feb 15, 2005 /PRNewswire-FirstCall via COMTEX/ -- China Mobility Solutions, Inc. (OTC Bulletin Board: CHMS) announced today highlights of the Company's full-year 2004 financial results. All figures are in U.S. dollars and pending a formal audit that will be filed with SEC soon.
Since the beginning of 2004, China Mobility Solutions has focused primarily on the rapidly growing market of mobile business solutions in China. Annual sales by the Company's Chinese subsidiary for 2004 were approximately four million dollars, a 300% increase over the sales of one million dollars for 2003. The Company had over 15,000 corporate clients at the end of 2004, and the number of new clients generated during 2004 exceeded 11,000. As of Dec. 31 of 2004, cash on hand was over five million dollars, compared with three million dollars at the end of 2003.
"We are very pleased to have our Chinese subsidiary complete a record year of sales. With over 11,000 new clients generated during 2004, switching our focus to mobile business solutions in China has definitely proven to be the right decision for our Company," said Angela Du, President of China Mobility Solutions. "In 2004, there were over 300 million mobile phone users, over 217 billion text messages were sent through mobile phones in China, compared to 1 billion in 2000, that is a 217 times increase. The market for mobile services in China is experiencing phenomenal growth. With a strong cash position of over five million at year-end, we look forward to offering new services during 2005 while seeking further business opportunities within the mobile business solutions market in China," added Ms. Du.
About China Mobility Solutions, Inc.
China Mobility Solutions (OTC Bulletin Board: CHMS) is a leading provider of mobile business solutions to many diverse corporations across China. With its rapidly growing client base of more than 15,000 companies and access to an additional 500,000 companies through its proprietary database, China Mobility Solutions is well positioned to become one of the largest providers of mobile business solutions in China. The Company has proprietary profit-sharing contracts with China's largest telecommunications companies -- China Mobile, China Unicom and China Telecom. Analysts predict that by 2007, China will have more than 500 million mobile phones in operation.
Forward-looking statement
Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, developments of the Chinese and North American markets and changes in regulatory matters. The Company disclaims any obligation to update any such factors or to publicly announce results of any revision to the forward-looking statements contained herein to reflect future events or developments.
Contact Information:
China Mobility Solutions, Inc. Angela Du, President Telephone: 604.632.9638 Fax: 604.408.8515 Email: investors@chinamobilitysolutions.com