Key Developments For Qiao Xing Universal Telephone Inc
Qiao Xing Universal Telephone Inc (XING.O) (Nasdaq)
Qiao Xing Universal Telephone, Inc. Signs Letter Of Intent For Proposed Sale Of Its Subsidiary Qiao Xing Communication Holdings Limited
Qiao Xing Universal Telephone, Inc. Inc. announced that it has signed a letter of intent (LOI) with Dragon Fu Investment Limited (DFIL) in connection with a proposed sale of its subsidiary, Qiao Xing Communication Holdings Limited. Pursuant to the LOI, it is proposed that the Company would sell the 100% equity interest in QXCI to DFIL.
Qiao Xing Universal Telephone, Inc. Comments On FY 2008 Earnings Outlook
Qiao Xing Universal Telephone, Inc. announced that for fiscal 2008, it expects to report a net loss on a consolidated basis.
Qiao Xing Universal Telephone, Inc. Completes the Acquisition of China Luxuriance Jade Company, Ltd.
Qiao Xing Universal Telephone, Inc. announced that it has completed the acquisition of the 100% equity interest in China Luxuriance Jade Company, Ltd. (China Luxuriance) and now has diversified into the resource industry. China Luxuriance, through its wholly owned Chinese subsidiaries, owns the right to receive the expected residual returns from Chifeng Haozhou Mining Co., Ltd. The total consideration which the Company will pay for the Acquisition was USD110, 000,000. The Company paid USD30 million in cash and will issue 40,000,000 restricted shares of the Company's common stock valued at USD2.00 per share to Mr. Wu Rui Lin, the former sole shareholder of China Luxuriance and the Chairman of XING.
Qiao Xing Universal Telephone, Inc. Files $200 Million Mixed Securities Shelf-DJ
Dow Jones reported that Qiao Xing Universal Telephone, Inc. registered with the U.S. Securities and Exchange Commission to sell from time to time up to $200 million of common stock and warrants. The Company said it intends to use the net proceeds for general corporate purposes and working capital requirements.
Qiao Xing Universal Telephone, Inc.'s Subsidiary Qiao Xing Mobile Announces Share Repurchase Program
Qiao Xing Universal Telephone, Inc. announced that the board of directors of its subsidiary Qiao Xing Mobile Communication Co., Ltd. has approved a share repurchase program. Under the terms of the approved program, Qiao Xing Mobile may repurchase up to an aggregate of $20 million worth of its issued and outstanding shares from time to time in open- market transactions on the NYSE Euronext.
