2007'02.11.Sun
Achievo Attracts Top Software Talent With University Programs in China
February 01, 2007
SAN RAMON, Calif. and SHENZHEN, China, Feb. 1
/Xinhua-PRNewswire/ -- Achievo(R) Corporation, the leading
global software and information technology outsourcing
provider with a local front-end and China back-end service
model, announced a second wave of joint training agreements
with educational institutions in China. Agreements have been
signed with the Zhuhai Institute of Jilin University and the
Software Institute of Hunan Vocational College of Science
and Technology to provide qualified personnel to Achievo on
an ongoing basis. In December 2006, Achievo welcomed the
first group of university interns from the Beijing
Information Technology Institute, Shenzhen University, and
the Beijing ACEIT Training Institute.
(Logo: http://www.xprn.com.cn/xprn/sa/200611291032.jpg
)
Under the terms of the agreement, student interns at
the Zhuhai Institute of Jilin University will work at
Achievo six to 10 months before graduation. The Software
Institute of Hunan Vocational College of Science and
Technology has also implemented a long term software
training program designed for Achievo projects in which
students will receive on-the-job training one to three
months before graduation. The Zhuhai Institute of Jilin
University is located in Zhuhai, a city in Guangdong
Province. The Software Institute of Hunan Vocational
College of Science and Technology is located in Changsha,
the capital city of Hunan Province.
"Achievo is a well-known global company,"
said Wang Yuan Liang, principle of the Zhuhai Institute of
Jilin University. "Achievo has skillful people and a
very good development environment. This makes Achievo one
of the best practice bases we can choose for our students.
The agreement provides a practical way to train our
students that is specific and effective."
"Some of our graduates have already begun working
at Achievo Jeyo, a division of Achievo in Guangzhou,
China," said Liu Wei, the administrator responsible
for student employment placement at the Software Institute
of Hunan Vocational College of Science and Technology.
"This is a win-win scenario. We want our students to
have quality workplaces at which to start their careers,
while Achievo needs qualified people to staff their
projects. We are looking forward to even more opportunities
to work with each other in additional project and skill
areas."
"Securing talented people is first and foremost on
our minds," said Dr. Vincent Lin, general manager of
Achievo's Multinational Business Group. "Our growth
depends upon our ability to create a deep pool of talented
technical professionals. Collaborating with leading
educational institutions provides a vital way for us to
create a self-sustaining source of talent."
About Achievo
Achievo is a global offshore software and information
technology outsourcing provider with a local front-end and
China back-end service model. With expertise in diverse
technologies including Java/J2EE, .NET and embedded
platforms, the CMM- and ISO- certified company offers
improved efficiencies, scale, diversification, and a
combined talent pool to deliver cost-effective,
quality-centric, and scalable IT outsourcing services to
customers and partners worldwide. Customers include Accela,
Audi, BMO Bank of Montreal, CA, China Mobile,
DaimlerChrysler, Hitachi, Honda, Mitsubishi, NETGEAR,
Nomura, Siemens, Toyota and Vidient. Headquartered in the
Silicon Valley, Achievo has offices in the United States,
Canada, Germany, Greater China and Japan. For information
on the company and its services, visit
http://www.achievo.com .
(C) 2007 Achievo Corporation. All rights reserved.
Achievo is a registered trademark of Achievo Corporation in
the United States and in other countries. All other
trademarks are the property of their respective owners.
For more information, pelase contact:
Jayme Curtis, Public Relations
Achievo Corporation
Tel: +1-408-892-8661
Email: jayme.curtis@achievo.com
Alicia Wang, Marketing
Achievo Corporation
Tel: +86-755-2602-0128 x220
Email: alicia.wang@achievo.com
SOURCE Achievo
PR
2007'02.11.Sun
think3 Engineers in India Conduct First in a Series of Collaborative free2Design Training Courses at Premiere Chinese University
February 01, 2007
150 Engineering Students and Teachers at Zhejiang
University Learn about Free 2D Software Capabilities
CINCINNATI, Feb. 1 /Xinhua-PRNewswire/ -- think3
Inc.(R), a leading supplier of product development
solutions and industrial design, recently completed its
first in a series of collaborative training sessions with
Zhejiang University in China as part of the company's
initiative to introduce free and legal use of 2D software
into emerging markets. More than 150 engineering students
and their teachers were trained by think3 engineers based
in its Indian operations during a week-long course at
Zhejiang. Since its introduction last October,
free2Design(TM) at http://www.free2Design.org has had more
than 20,000 downloads of its free 2D software. The
initiative also includes a rich community user site where
people can exchange ideas about product development.
"Our design and engineering students are learning
the fundamental techniques for product design with a tool
that they can continue to use after graduation at no cost,
which is something they haven't had access to before now.
Our teachers who manage the CAD laboratory are also
involved in the training so we are creating a multiplying
effect in terms of how many students can learn about
free2Design in the coming years," said Professor Lu
Guodong, who teaches at the School of Mechanical and Energy
Engineering at Zhejiang University. "Our plan is to
offer a new 2D training course as part of the regular
curriculum starting this spring."
"We are excited about how quickly our partnerships
have progressed and how eager Chinese students are to get
access to a complete 2D solution," said Eugenio Vacca,
senior product manager for free2Design at think3. "In
particular, being able to connect our experts in India with
the instructors at the university in China illustrates one
of many synergies we can build using the professional
skills available in the two fastest growing Asian
countries."
About free2Design
think3's free2Design mechanical CAD software provides
users a production-proven set of capabilities for creating
2D documentation based on think3's 2D products and services
used by thousands of small to mid sized manufacturers around
the world for the past 15 years. It is a full-featured 2D
solution with more functions than industry standards like
AutoCAD(R). In addition, it also has import and export
DXF/DWG format capabilities that make it compatible with
AutoCAD.
free2Design is available in English and Chinese at
http://www.free2Design.org . Additional languages will be
added in the coming months. The software is available for
free download practically everywhere in the world. As
free2Design users become more proficient, think3 also
offers an easy and integrated upgrade to 3D, industrial
design capabilities and full PDM/PLM capabilities to
support the Product Lifecycle as a whole.
The http://www.free2Design.org community site provides
an immediate source of information and interaction for
registered users that include:
-- Free and immediate access to all API development
examples,
libraries of symbols and drawing examples -- free
for
registered users to upload or download content
-- A variety of community-driven documents that include
getting
started, documentation, tips and tricks, help and
frequently
asked questions
-- Online training that includes downloadable
self-training
material and Web seminars
-- Forums that support general product and industry
discussions
-- Industry or CAD-related news that users can
contribute to as
well
-- User Opinion Surveys
About Zhejiang University
Under the direct administration of China's Ministry of
Education, the new Zhejiang University is a comprehensive
university with fields of study covering eleven branches of
learning, including: philosophy, literature, history,
education, science, economics, law, management,
engineering, agriculture and medicine. The university has
115 specialties for undergraduate studies, and it is
entitled to confer master's degrees in 312 programs and
doctoral degrees in 237 programs.
About think3 Inc.
think3 is a leading supplier of product development
solutions to mid-sized manufacturers worldwide and provides
innovative, next generation industrial design solutions for
the industrial design industry. Customers include Honda,
Mazda, Buell Motorcycles, BMW, and Alessi. Overall, the
company enables more than 5,000 manufacturers to achieve
dramatic gains in competitiveness and profitability by
optimizing their product development process. think3's
best-of-class products, services and unique business
delivery model lower manufacturers' risks and remove
barriers to successful implementation. With headquarters in
Cincinnati and offices throughout Europe, Asia and North
America, the privately held company has been leading
innovation for more than 20 years. For more information,
visit http://www.think3.com .
For more information, please contact:
Ann Willey
think3 Communications
Email: ann.willey@think3.com
SOURCE think3 Inc.
2007'02.11.Sun
Oversi's P2P Caching System Helps Service Providers to Maintain Service Levels After Asian Earthquake
February 01, 2007
Continues to Relieve Pressure on International Lines One
Month After Undersea Cables Were Hit
PETACH TIKVA, Israel, Feb. 1 /Xinhua-PRNewswire/ --
Oversi, a pioneer in innovative Peer-to-Peer (P2P)
solutions for Internet Service Providers (ISPs), announced
today that its OverCache(TM) caching and delivery platform
has helped ISPs to maintain their level of service one
month after powerful earthquakes disrupted Internet access
across Asia.
Regional customer data shows that OverCache systems
supported an over 100 percent increase in local P2P traffic
from the moment the earthquake hit, relieving the burden on
damaged international connections and serving as crucial
back-up. With the system's high Byte-Hit-Ratio (BHR),
OverCache helped to ensure network performance and faster
user response when international lines were down.
Commenting on the system's performance, Joav Avtalion,
Chairman and CEO of Oversi, said, "A far greater
amount of bandwidth has been delivered through our systems
over the last month, meeting the ongoing demand from users
for Internet access. Even with no international bandwidth
available, ISPs could continue to give service to their
customers. We're pleased that our systems helped to
alleviate pressure from the network, and other critical
services, and support our customers in this real disaster
recovery situation."
About Oversi
Oversi offers innovative solutions for P2P networks in
today's fast-growing Internet TV and video age. Oversi's
solutions enable ISPs to optimize their network
performance, ease P2P traffic pressure and save on
bandwidth. The same Oversi platform also helps ISPs to
increase revenues and enhance user stickiness through new
value-added-services, such as premium content delivery and
online storage.
For more information, please visit
http://www.oversi.com .
For more information, please contact:
Natalie Chouraqui
Oversi
Tel: +972-54-4750-889
Email: nataliec@oversi.com
SOURCE Oversi
2007'02.11.Sun
ANADIGICS Announces Production Shipments of WLAN 802.11n Power Amplifiers
January 31, 2007
ANADIGICS, a Leading Supplier of multi-band WLAN Power
Amplifiers, Extends Leadership into 802.11n Platforms
WARREN, N.J., Jan. 31 /Xinhua-PRNewswire/ -- ANADIGICS,
Inc. (Nasdaq: ANAD), a leading supplier of wireless and
broadband solutions, announced today that the company is
ramping production shipment of Wireless LAN (WLAN) power
amplifiers (PAs) that support the upcoming 802.11n
multi-input, multi-output (MIMO) standard. The company
supplies several key industry players with single-band and
dual-band WLAN PAs, including the AWL6153, AWL9925, AWL9929
and AWL6951 for MIMO (802.11n) applications.
With recent announcements, MIMO applications are
expected to ramp quickly as access point and notebook
manufacturers accelerate to production. The benefits of
MIMO technology include extended range beyond that of
802.11abg and increased data rates which support
simultaneous multimedia applications such as high
definition video and voice over internet protocol (VoIP).
For ANADIGICS, the benefits of MIMO are clear: multiple
transmit chains equals multiple power amplifiers in each
MIMO device.
"We are extremely pleased by the success of our
highly integrated WLAN PAs for MIMO platforms," said
Dr. Bami Bastani, President & CEO of ANADIGICS.
"The deployment of 802.11n MIMO technology expands the
WLAN market with such drivers as wireless broadband
entertainment in the home. ANADIGICS' PAs and front-end
ICs (FEICs) stand out as critical enablers. We are proud
to be working closely with the leaders in the industry to
develop the next generation of wireless connectivity
solutions."
ANADIGICS is the worlds leading manufacturer of Indium
Gallium Phosphide (InGaP) PAs for WLAN applications.
Building on the combination of ANADIGICS' patented
InGaP-Plus(TM) process technology and innovative design
concepts the Company's 802.11n PAs and FEICs provide high
levels of integration, as well as the linearity,
efficiency, and output power required to integrate MIMO
capability into a broad range of home and office multimedia
appliances, such as mobile computing, CATV set-top boxes, HD
televisions, and videogame console systems.
For additional information, contact ANADIGICS by phone
(908) 668-5000 or FAX (908) 668-5132 or visit the Company's
Web site at http://www.anadigics.com .
ANADIGICS, Inc. (Nasdaq: ANAD) designs and manufactures
radio frequency integrated circuit (RFIC) solutions for
growing broadband and wireless communications markets. The
Company's innovative high frequency RFICs enable
manufacturers of communications equipment to enhance
overall system performance, and reduce manufacturing cost
and time to market. By utilizing state-of-the-art
manufacturing processes for its RFICs, ANADIGICS achieves
the high-volume and cost-effective products required by
leading companies in its targeted high-growth
communications markets. ANADIGICS was the first GaAs IC
manufacturer to receive ISO 9001 certification and is
certified to the ISO 9001:2000 and ISO 14001:1996 quality
standards.
Except for historical information contained herein,
this press release contains projections and other
forward-looking statements (as that term is defined in the
Securities Exchange Act of 1934, as amended). These
projections and forward-looking statements reflect the
Company's current views with respect to future events and
financial performance and can generally be identified as
such because the context of the statement will include
words such as "believe," "anticipate,"
"expect," or words of similar import. Similarly,
statements that describe our future plans, objectives,
estimates or goals are forward-looking statements. No
assurances can be given, however, that these events will
occur or that these projections will be achieved and actual
results and developments could differ materially from those
projected as a result of certain factors. Important factors
that could cause actual results and developments to be
materially different from those expressed or implied by
such projections and forward-looking statements include
those factors detailed from time to time in our reports
filed with the Securities and Exchange Commission,
including the Company's annual report on Form 10-K for the
year ended December 31, 2004, and those discussed elsewhere
herein.
For more information, please contact:
Press Contact:
Chuck Manners
Godfrey, for ANADIGICS, Inc.
Tel: +1-717-393-3831
Fax: +1-717-393-1403
Email: chuck@godfrey.com
Corporate Contact:
Jennifer Palella,
Tel: +1-908-668-5000
Fax: +1-908-412-5978
Email: jpalella@anadigics.com
Investor Relations:
Thomas Shields
Tel: +1-908-412-5995
Email: tshields@anadigics.com
SOURCE ANADIGICS, Inc.
2007'02.11.Sun
UL to Deliver AIAG Gap Assessment Services to Prepare
January 31, 2007
Chinese Auto Parts Suppliers for Entry Into N.A. Auto
Market
SHANGHAI, China, Jan. 31 /Xinhua-PRNewswire/ -- The
Automotive Industry Action Group (AIAG), a leading
not-for-profit automotive industry trade association, today
announced that Underwriters Laboratories, Inc. (UL), an
independent, not-for-profit product safety testing and
certification organization, will provide AIAG Gap
Assessment Services to automotive parts and accessories
manufacturers in China to facilitate North American market
access for these suppliers.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20040719/DEM007LOGO )
Under the collaborative agreement, UL will perform gap
analysis as well as training in problem solving and heat
treatment process control. The AIAG Gap Assessment
Services is a new program that will assist AIAG members,
including General Motors Corp., DaimlerChrysler Corp. and
Ford Motor Co., in resolving issues with sourcing
automotive parts and accessories in China. The program
also helps potential suppliers identify gaps in meeting the
Detroit automakers' sourcing requirements.
The agreement leverages AIAG's technical and management
expertise and UL's professional service capability in
evaluating products, components, materials and systems to
help automotive parts suppliers in China export their
higher quality products more quickly.
Dr. Chen Yilong, general director of Asia-Pacific
Affairs & chief representative in China, AIAG, said,
"Asia, particularly China, represents a key economic
growth sector for the automotive parts sourcing industry.
Some suppliers have found it challenging to export their
products to North America because of the gap in meeting
stringent sourcing requirements, where efficient and
cost-effective manufacturing and delivery are more crucial
than ever. Those suppliers that can demonstrate compliance
will make a footprint in the global automotive
industry."
Mr. John H. Schmidt, senior vice president, chief
development manager of UL, said: "We look forward to
deploying UL's specialized professional training and
automotive industry service resources to make this program
as valuable as possible to parts suppliers. UL will
closely adhere to AIAG's criteria for technical and service
level quality, while AIAG will oversee the program to ensure
that the needs and preferences of all participants are
acknowledged and implemented."
A gap assessment (or gap analysis) is a business
evaluation tool enabling a company to compare its actual
performance with its potential performance. This provides
the company with insight into areas that offer opportunity
for improvement. The gap assessment process involves
determining, documenting and analyzing the variance between
business requirements and current capabilities.
For business inquiries, please contact Ms. Chen or Ms.
Zhu at
86-21-5292 8665.
About AIAG
Founded in 1982, AIAG is a globally recognized
organization where OEMs and suppliers unite to address and
resolve issues affecting the worldwide automotive supply
chain. AIAG's goals are to reduce cost and complexity
through collaboration; improve product quality, health,
safety and the environment; and optimize speed to market
throughout the supply chain. Headquartered in the metro
Detroit area, its more than 1,500 member companies include
North American, European and Asia-Pacific OEMs and
suppliers to the automotive industry. Additional
information is available on the Internet at
http://www.aiag.org .
About UL
Underwriters Laboratories Inc. (UL) is an independent,
not-for-profit product safety certification organization
that has been testing products and writing Standards for
Safety for over a century. UL evaluates more than 19,000
types of products, components, materials and systems
annually with 21 billion UL Marks appearing on 71,000
manufacturers' products each year. UL's worldwide family of
companies and network of service providers includes 66
laboratory, testing, and certification facilities serving
customers in 104 countries. UL is also one of the
authoritative ISO/TS 16949 services providers. For more
information, visit: http://www.UL.com .
For more information, please contact:
Leslie Santos-Cotham
AIAG
Tel: +1-248-358-9794
Mindy Gu
Corporate Communications
UL-CCIC Company Limited
Tel: +86-21-6137-6300 x66320
Ines Mao
Corporate Communications
UL-CCIC Company Limited
Tel: +86-21-6137-6300 x66321
SOURCE Automotive Industry Action Group
2007'02.11.Sun
Online Qualifier Sensations Dominate World's Richest Backgammon Tournament
January 31, 2007
Maertens Wins Richest Prize Ever at PartyGammon.com
Million
Germany and Denmark are Skill Game's Superpowers
GIBRALTAR, Jan. 31 /Xinhua-PRNewswire/ -- 33-year-old
German Andreas Maertens is celebrating after winning the
inaugural PartyGammon.com Million at the Atlantis Resort in
the Bahamas (21st-25th January), scooping a world record
$600,400 payout for a backgammon tournament. Maertens beat
36 year-old Danish backgammon ace Lasse Hjorth Madsen 23-22
in a thrilling final in front of Matchroom Sport's
television cameras. Both players were online qualifiers
from http://www.PartyGammon.com in a field that featured 10
former World Champions and 25 of the top 32 `Giants of
Backgammon.' The total prize pool exceeded the guaranteed
$1 million and hit over $1.2 million. Maertens qualified
online for $440, while Madsen reached the tournament from a
$35 online satellite.
(Photo:
http://www.newscom.com/cgi-bin/prnh/20070130/243518 )
A PartyGammon.com spokesman said: "We saw the huge
rise of the internet qualifier in poker and, remarkably, at
the very first attempt we have seen online qualifiers
compete and beat the world's best players at backgammon.
Like poker, the entrance of the online aces promises to
change the game of backgammon forever."
Maertens, from Bielefeld, Germany, has form in both
backgammon and poker, winning the German Backgammon Open in
1996 and regularly playing on the poker circuit. He was
blown away by his win: "When I came here I hoped I had
a chance but never ever really thought that I could win as
there were so many strong players in the field. I'm not
sure what I am going to do with the money, I'm certainly
going to play more high stakes backgammon but I am also
going to buy my girlfriend Monica a car."
Asked what he thought of becoming a backgammon
superstar from its biggest ever tournament he said,
"It doesn't get much better than this. How am I going
to top this? I certainly didn't count myself as the best
player here -- I think I would be in the top 100
though." This concurred with the views of bookmakers
www.PartyBets.com, who placed Maertens middle of the field
pre-tournament with France's Francois Tardieu and Denmark's
Sander Lyloff the favourites.
The fact that the final was Germany v Denmark didn't
surprise the players watching on the Dragon's Patio at the
Atlantis Resort or even the winner, backgammon's new
superstar Maertens: "Germany and Denmark were the
strongest countries represented in terms of numbers and had
excellent players. There are more skilful individuals from
other nations but in terms of quantity these countries are
the superpowers."
Maertens built up a huge lead in the final and it
seemed like his win would be inevitable but Madsen, a
Research Executive from Copenhagen, who scooped $144,096
for finishing runner-up, made a huge fight back and was
pragmatic about his failure to clear the final hurdle after
coming back to just one point away from victory. "In
backgammon you can be almost there, then all of a sudden
far away from the winning post again, it makes the game so
thrilling. I am disappointed but I will be back to fight
another day."
A PartyGammon.com spokesman continued: "This
tournament has taken backgammon to a new level and taken a
previously unknown community into the mainstream. There
were plenty of characters around from groups that enhanced
their sports betting by using a doubling cube, to Victoria
Smirnoff, an attractive Russian player who was staying in
the suite James Bond occupied during Casino Royale. One
thing is for sure though, the internet qualifiers have
arrived and are here to stay."
PartyGammon.com is a popular member of PartyGaming
Plc's growing suite of online games that includes
PartyPoker.com, PartyCasino.com, PartyBingo.com,
PartyBets.com, Gamebookers.com and EmpirePoker.com.
http://www.PartyGammon.com burst on the scene in June 2006
and has quickly moved to become the favourite of online
backgammon players.
For more information, please contact:
Warren Lush
PartyGaming Plc
Email: warrenl@partygaming.com
SOURCE PartyGaming Plc
2007'02.11.Sun
SMIC Reports 2006 Fourth Quarter Results
January 31, 2007
-- All currency figures stated in this report are in US
Dollars unless
stated otherwise.
-- The financial statement amounts in this report are
determined in
accordance with US GAAP.
Overview:
* Sales increased to $383.8 million in 4Q06, up 15.2%
from 4Q05 and up
4.0% sequentially.
* ASP increased to $904 in 4Q06 from $891 in 3Q06 and
$885 from 4Q05.
* Revenue from 90 nanometer contributed 14.4% of total
wafer revenue in
4Q06 as compared to 4.9% in 3Q06.
* Gross margins of 6.6% in 4Q06 from 8.9% in 3Q06.
* The Company recorded a disposal gain of $41.7 million
from the sale of
properties in 4Q06.
* Net income of $1.2 million in 4Q06, compared to a net
loss of $15.0
million in 4Q05 and net loss of $35.1 million in the
previous quarter.
SHANGHAI, China, Jan. 31 /Xinhua-PRNewswire/ --
Semiconductor Manufacturing International Corporation
(NYSE: SMI; SEHK: 981) ("SMIC" or the
"Company"), one of the leading semiconductor
foundries in the world, today announced its consolidated
results of operations for the three months ended December
31, 2006. Sales increased 4.0% in the fourth quarter of
2006 to $383.8 million from $368.9 million in the third
quarter. The Company reported an increase in capacity to
182,250 8-inch equivalent wafers per month and a
utilization rate of 86.6% in the fourth quarter of 2006.
Gross margins were 6.6% in the fourth quarter of 2006
compared to 8.9% in the third quarter of 2006. Net income
of $1.2 million in the fourth quarter of 2006, compared to
a net loss of $15.0 million in the fourth quarter of 2005
and a net loss of $35.1 million in the third quarter of
2006.
"SMIC posted record revenues of $1.46 billion
dollars in 2006, which represented a 25% increase year over
year," said Dr. Richard Chang, Chief Executive Officer
of SMIC. "Gross profit grew by 68% year over year to
$150.7 million dollars. We were able to reduce our net
loss by 64% year over year and managed to increase EBITDA
by 25% year over year to $911.1 million dollars.
Our fourth quarter revenue from advanced technology
nodes demonstrates SMIC's ability to meet the needs of a
growing customer base. The positive product mix shift
resulted in 90 nanometer and 130 nanometer technologies
contributing 57.4% of total wafer revenues, up from their
46.1% contribution in the third quarter.
There was particular strength in the PC related ICs,
DTV, MP3/4, and Bluetooth applications. Also, we had eight
new Mainland China customer wins during the fourth quarter.
SMIC will keenly focus on generating profitability for
our shareholders. We will continue to develop our
capabilities according to our technology roadmap in a
fiscally responsible manner. Our 65nm technology
development is progressing smoothly. The Chengdu and Wuhan
projects allow us to continue to grow our business while
managing our internal capital expenditure in an efficient
manner. These projects will allow us to better serve our
international customers while positioning ourselves closer
to potential Chinese customers.
In the fourth quarter, the strategic decision to sell
some of SMIC's matured technology machinery and equipment
further lowered our future depreciation expenses and
enabled the Company to expand towards more advanced
technologies. We plan to have controlled capital
expenditures of $720 million for 2007.
For the first quarter of 2007, we are expecting more
than 17% of our total wafer revenue to come from 90nm
sales. We believe the continued prudent development of
advanced technology nodes for leading customers positions
SMIC for continual growth and improved profitability in
2007."
Conference Call / Webcast Announcement
Date: January 31, 2007
Time: 8:00 a.m. Shanghai time
Dial-in numbers and pass code: U.S. 1-617-597-5342 or
HK 852-3002-1672 (Pass code: SMIC).
A live webcast of the 2006 fourth quarter announcement
will be available at http://www.smics.com under the
"Investor Relations" section. An archived
version of the webcast, along with a soft copy of this news
release will be available on the SMIC website for a period
of 12 months following the webcast.
About SMIC
SMIC (NYSE: SMI; SEHK: 981) is one of the leading
semiconductor foundries in the world and the largest and
most advanced foundry in Mainland China, providing
integrated circuit (IC) manufacturing service at 0.35mm to
90nm and finer line technologies. Headquartered in
Shanghai, China, SMIC operates three 200mm fabs in Shanghai
and one in Tianjin, and one 300mm fab in Beijing, the first
of its kind in Mainland China. SMIC has customer service
and marketing offices in the U.S., Italy, and Japan as well
as a representative office in Hong Kong. For additional
information, please visit http://www.smics.com .
Safe Harbor Statements
(Under the Private Securities Litigation Reform Act of
1995)
This press release may contain, in addition to
historical information, "forward-looking
statements" within the meaning of the "safe
harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking
statements, including statements concerning SMIC's plans to
develop its capabilities, build its China customer base and
expand its capacity, anticipated decreases in depreciation
expenses, the percentage of total wafer revenue expected to
come from 90nm sales, SMIC's ability to grow and improve
profitability in 2007, and statements under "Capex
Summary" and "First Quarter 2007 Guidance"
are based on SMIC's current assumptions, expectations and
projections about future events. SMIC uses words like
"believe," "anticipate,"
"intend," "estimate,"
"expect," "project" and similar
expressions to identify forward-looking statements,
although not all forward-looking statements contain these
words. These forward-looking statements are necessarily
estimates reflecting the best judgment of SMIC's senior
management and involve significant risks, both known and
unknown, uncertainties and other factors that may cause
SMIC's actual performance, financial condition or results
of operations to be materially different from those
suggested by the forward-looking statements including,
among others, risks associated with cyclicality and market
conditions in the semiconductor industry, intense
competition, timely wafer acceptance by SMIC's customers,
timely introduction of new technologies, SMIC's ability to
ramp new products into volume, supply and demand for
semiconductor foundry services, industry overcapacity,
shortages in equipment, components and raw materials,
availability of manufacturing capacity and financial
stability in end markets.
Investors should consider the information contained in
SMIC's filings with the U.S. Securities and Exchange
Commission (SEC), including its annual report on 20-F, as
amended, filed with the SEC on June 29, 2006, especially in
the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results
of Operations" sections, and its registration
statement on Form A-1 as filed with the Stock Exchange of
Hong Kong (SEHK) on March 8, 2004, and such other documents
that SMIC may file with the SEC or SEHK from time to time,
including on Form 6-K. Other unknown or unpredictable
factors also could have material adverse effects on SMIC's
future results, performance or achievements. In light of
these risks, uncertainties, assumptions and factors, the
forward-looking events discussed in this press release may
not occur. You are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of
the date stated, or if no date is stated, as of the date of
this press release. Except as required by law, SMIC
undertakes no obligation and does not intend to update any
forward-looking statement, whether as a result of new
information, future events or otherwise.
Litigation
The Company is subject to a pending lawsuit with Taiwan
Semiconductor Manufacturing Company, Limited
("TSMC"), related to the intangible assets, with
a net book value of $94.5 million, the Company recorded for
patents licensed from TSMC and TSMC's covenant not to sue
the Company regarding certain allegations of acts of trade
secret misappropriation. Under SFAS 144, the Company is
required to make a determination as to whether or not this
pending litigation represents an event that requires a
further analysis of whether such assets have been impaired.
We believe that the lawsuit is at a very early stage, TSMC
has not produced any evidence of misappropriation and we
are still evaluating whether or not the litigation
represents such an event. The Company expects further
information to become available to us, which will aid us in
making a determination. The outcome of any impairment
analysis performed under SFAS 144 might result in a
material impact on our financial positions and results of
operations.
On September 13, 2006, the Company announced that in
addition to filing a response (on September 12, 2006)
strongly denying the allegations of TSMC in the United
States lawsuit, the Company also filed a cross-complaint
against TSMC, seeking, amongst other things, damages for
TSMC's breach of contract and breach of implied covenant of
good faith and fair dealing.
On November 16, 2006, the High Court in Beijing, the
People's Republic of China accepted the filing of a
complaint by the Company and its wholly-owned subsidiaries,
Semiconductor Manufacturing International (Shanghai)
Corporation and Semiconductor Manufacturing International
(Beijing) Corporation regarding the unfair competition
arising from the breach of bona fide (i.e., integrity, good
faith) principle and commercial defamation by TSMC
("PRC Complaint"). In the PRC Complaint, the
Company is seeking, amongst other things, an injunction to
stop TSMC's infringing acts, public apology from TSMC to
the Company and compensation from TSMC to the Company,
including profits gained by TSMC from their infringing
acts.
Summary of Fourth Quarter 2006 Operating Results
Amounts in US$ thousands, except for EPS and operating
data
4Q06 3Q06 QoQ
4Q05 YoY
Sales 383,812 368,926
4.0% 333,052 15.2%
Cost of sales 358,452 336,160
6.6% 290,094 23.6%
Gross profit 25,360 32,766
-22.6% 42,958 -41.0%
Operating expenses 10,569 46,190
-77.1% 51,756 -79.6%
Income (Loss) from operations 14,791 (13,424)
-- (8,798) --
Other income (expenses)£¬net (16,468) (20,947)
-21.4% (5,852) 81.4%
Income tax credit (expense) 3,003 3,048
-1.5% (152) --
Net income (loss) after
income taxes 1,325 (31,323)
-- (14,802) --
Minority interest 941 (2,674)
-- (176) --
Share of loss of affiliate
company (1,044) (1,097)
-4.8% -- --
Income (loss) attributable to
holders of ordinary shares
1,222 (35,094)
-- (14,978) --
Gross margin 6.6% 8.9%
12.9%
Operating margin 3.9% -3.6%
-2.6%
Net income (loss) per ordinary
share - basic(1) 0.0001 (0.0019)
(0.0008)
Net income (loss) per ADS -
basic 0.0033 (0.0956)
(0.0410)
Net income (loss) per ordinary
share - diluted(1) 0.0001 (0.0019)
(0.0008)
Net income (loss) per ADS -
diluted 0.0033 (0.0956)
(0.0410)
Wafers shipped (in 8"
wafers)(2) 424,395 413,985
2.5% 376,227 12.8%
ASP(3) $904 $891
1.5% $885 2.1%
Capacity utilization 86.6% 84.3%
93.0%
Note:
(1) Based on weighted average ordinary shares of 18,398
million (basic)
and 18,609 million (diluted) in 4Q06, 18,356
million in 3Q06 and
18,251 million in 4Q05
(2) Including copper interconnects
(3) Total sales/total wafers shipped
-- Sales increased to $383.8 million in 4Q06, up 4.0%
QoQ from $368.9
million in 3Q06 and up 15.2% YoY from $333.1 million
in 4Q05 primarily
due to increased 8-inch equivalent wafer shipments
of 424,395, up 2.5%
QoQ from 413,985 in 3Q06 as well as an increase in
the percentage of
shipment from advanced technology nodes.
-- Cost of sales increased to $358.5 million in 4Q06,
up 6.6% QoQ from
$336.2 million in 3Q06, primarily due to an increase
in wafer
shipments, change in product mix, and higher
depreciation expenses.
-- Gross profit decreased to $25.4 million in 4Q06,
down 22.6% QoQ from
$32.8 million in 3Q06 and down 41.0% YoY from $43.0
million in 4Q05.
-- Gross margins decreased to 6.6% in 4Q06 from 8.9% in
3Q06 primarily
due to an increase in depreciation expenses and
product mix change.
-- Total operating expenses excluding income from
disposal of properties
were $52.3 million in 4Q06, an increase of 13.2% QoQ
from $46.2
million in 3Q06.
-- R&D expenses decreased to $21.7 million in 4Q06,
down 20.5% QoQ from
$27.3 million in 3Q06, primarily due to the transfer
of certain
expenses to manufacturing costs upon commencing
commercial production
of new technologies.
-- G&A expenses increased to $14.6 million in 4Q06
from $4.2 million in
3Q06 primarily due to a foreign exchange loss of
$1.8 million in 4Q06
compared to a gain of $2.3 million in 3Q06 relating
to operating
activities and a tax and legal fee reversal recorded
in 3Q06.
-- Selling & marketing expenses increased to $4.7
million in 4Q06, up
30.9% QoQ from $3.6 million in 3Q06, primarily due
to an increase in
engineering material expenses associated with
selling activities.
-- The Company recorded a disposal gain of $41.7
million in 4Q06 from the
sale of properties.
-- The Company recorded an operating profit of $14.8
million in 4Q06 as
compared to an operating loss of $13.4 million in
3Q06 and an
operating loss of $8.8 million in 4Q05.
Analysis of Revenues
Sales Analysis
By Application 4Q06 3Q06
2Q06 1Q06 4Q05
Computer 36.3% 33.0%
30.6% 36.0% 34.8%
Communications 40.1% 37.1%
46.2% 45.8% 43.8%
Consumer 19.3% 25.2%
18.6% 13.3% 16.6%
Others 4.3% 4.7%
4.6% 4.9% 4.8%
By Device 4Q06 3Q06
2Q06 1Q06 4Q05
Logic (including copper interconnect) 57.4% 65.4%
66.6% 62.8% 65.3%
DRAM(1) 38.6% 30.1%
28.8% 32.4% 31.3%
Other (mask making & probing, etc.) 4.0%
4.5% 4.6% 4.8% 3.4%
By Customer Type 4Q06 3Q06
2Q06 1Q06 4Q05
Fabless semiconductor companies 36.1% 36.9%
49.8% 41.8% 43.2%
Integrated device manufacturers (IDM) 55.8% 50.4%
41.9% 52.8% 51.7%
System companies and others 8.1% 12.7%
8.3% 5.4% 5.1%
By Geography 4Q06 3Q06
2Q06 1Q06 4Q05
North America 36.3% 38.6%
46.7% 43.5% 39.2%
Asia Pacific (ex. Japan) 20.0% 25.4%
20.9% 21.3% 28.2%
Japan 11.3% 7.5%
4.9% 3.3% 3.6%
Europe 32.4% 28.5%
27.5% 31.9% 29.0%
Wafer Revenue Analysis
By Technology (logic, DRAM & copper
interconnect only) 4Q06 3Q06
2Q06 1Q06 4Q05
0.09um 14.4% 4.9%
0.9% -- --
0.13um 43.0% 41.2%
46.6% 46.6% 42.9%
0.15um 2.4% 7.2%
4.7% 8.7% 5.2%
0.18um 33.3% 36.1%
38.0% 35.7% 42.3%
0.25um 1.6% 2.6%
2.0% 1.6% 3.3%
0.35um 5.3% 8.0%
7.8% 7.4% 6.3%
By Logic Only(1) 4Q06 3Q06
2Q06 1Q06 4Q05
0.09um 14.7% 4.6%
0.2% -- --
0.13um(2) 14.0% 11.1%
22.3% 13.3% 10.9%
0.15um 4.2% 11.8%
7.2% 14.5% 8.6%
0.18um 54.8% 55.3%
55.8% 57.7% 65.3%
0.25um 2.8% 4.1%
2.5% 2.3% 4.8%
0.35um 9.5% 13.1%
12.0% 12.2% 10.4%
Note:
(1) Excluding 0.13mm copper interconnects
(2) Represents revenues generated from manufacturing
full flow wafers
Capacity
Fab / (Wafer Size)
4Q06*
Shanghai Mega Fab (8")(1)
106,000
Beijing Mega Fab (12")(2)
56,250
Tianjin Fab (8")
20,000
Total monthly wafer fabrication capacity
182,250
Note:
* Wafers per month at the end of the period in 8"
wafers
(1) Shanghai Mega Fab is now comprised of Fab 1, Fab
2, and Fab 3
(2) Beijing Mega Fab is now comprised of Fab 4, Fab 5,
and Fab 6
-- As of the end of 4Q06, monthly capacity increased to
182,250 8-inch
equivalent wafers from 176,625 8-inch equivalent
wafers as of the end
of 3Q06 mainly due to expansion at the Beijing Mega
Fab.
Shipment and Utilization
8" equivalent wafers 4Q06 3Q06 2Q06
1Q06 4Q05
Wafer
shipments
including
copper
interconnects 424,395 413,985 388,498
388,010 376,227
Utilization
rate(1) 86.6% 84.3% 93.5%
94.9% 93.0%
Note:
(1) Capacity utilization based on total wafer out
divided by estimated
capacity
-- Wafer shipments increased to 424,395 units of 8-inch
equivalent wafers
in 4Q06 up 2.5% QoQ from 413,985 units of 8-inch
equivalent wafers in
3Q06, and up 12.8% YoY from 376,227 8-inch
equivalent wafers in 4Q05.
Average Selling Price (ASP) Trend
The ASP increased to $904 in 4Q06 from $891 in 3Q06
mainly due to improving yield at the Beijing Mega Fab and a
slightly stronger DRAM pricing environment.
Detailed Financial Analysis
Gross Profit Analysis
Amounts in US$ thousands 4Q06 3Q06 QoQ
4Q05 YoY
Cost of sales 358,452 336,160
6.6% 290,094 23.6%
Depreciation 210,045 196,993
6.6% 176,545 19.0%
Other manufacturing costs 148,407 139,167
6.6% 113,549 30.7%
Gross Profit 25,360 32,766
-22.6% 42,958 -41.0%
Gross Margin 6.6% 8.9%
-- 12.9% --
-- Cost of sales increased to $358.5 million in 4Q06,
up 6.6% QoQ from
$336.2 million in 3Q06, primarily due to an increase
in wafer
shipments, change in product mix, and higher
depreciation expenses.
-- Gross profit decreased to $25.4 million in 4Q06,
down 22.6% QoQ from
$32.8 million in 3Q06 and down 41.0% YoY from $43.0
million in 4Q05.
-- Gross margins decreased to 6.6% in 4Q06 from 8.9% in
3Q06. This was
primarily due to an increase in depreciation
expenses and product mix
change.
Operating Expense Analysis
Amounts in US$ thousands 4Q06 3Q06
QoQ 4Q05 YoY
Total operating expenses 10,569 46,190
-77.1% 51,756 -79.6%
Research and development 21,719 27,319
-20.5% 24,964 -13.0%
General and administrative 14,563 4,216
245.4% 9,803 48.6%
Selling and marketing 4,729 3,614
30.9% 6,349 -25.5%
Amortization of intangible
assets 11,292 11,041
2.3% 10,640 6.1%
Income from disposal of
properties (41,734) --
-- -- --
-- Total operating expenses excluding income from
disposal of properties
were $52.3 million in 4Q06, an increase of 13.2% QoQ
from $46.2
million in 3Q06.
-- R&D expenses decreased to $21.7 million in 4Q06,
down 20.5% QoQ from
$27.3 million in 3Q06, primarily due to the transfer
of certain
expenses to manufacturing costs upon commencing
commercial production
of new technologies.
-- G&A expenses increased to $14.6 million in 4Q06
from $4.2 million in
3Q06, primarily due to a foreign exchange loss of
$1.8 million in 4Q06
compared to a gain of $2.3 million in 3Q06 relating
to operating
activities and a tax and legal fee reversal recorded
in 3Q06.
-- Selling & marketing expenses increased to $4.7
million in 4Q06, up
30.9% QoQ from $3.6 million in 3Q06, primarily due
to an increase in
engineering material expenses associated with
selling activities.
-- The Company recorded a disposal gain of $41.7
million in 4Q06 from the
sale of properties.
Other Income (Expenses)
Amounts in US$ thousands 4Q06 3Q06 QoQ
4Q05 YoY
Other income (expenses) (16,468) (20,947)
-21.4% (5,852) 181.4%
Interest income 3,311 2,970
11.5% 4,120 -19.6%
Interest expense (14,263) (12,247)
16.5% (11,792) 21.0%
Other, net (5,516) (11,670)
-52.7% 1,820 --
-- Other non-operating loss of $16.5 million in 4Q06 as
compared to a
loss of $20.9 million in 3Q06, primarily due to a
decrease in foreign
exchange loss.
-- Interest expenses of $14.3 million in 4Q06, up 16.5%
QoQ from $12.2
million in 3Q06.
Liquidity
Amounts in US$ thousands 4Q06
3Q06
Cash and cash equivalents 363,620
555,326
Short term investments 57,950
52,442
Accounts receivable 252,185
265,522
Inventory 275,179
243,957
Others 100,732
40,500
Total current assets 1,049,666
1,157,747
Accounts payable 309,129
353,325
Short-term borrowings 71,000
45,000
Current portion of long-term debt 103,987
47,160
Others 126,242
137,391
Total current liabilities 610,358
582,876
Cash Ratio 0.6x
1.0x
Quick Ratio 1.1x
1.5x
Current Ratio 1.7x
2.0x
-- Cash and cash equivalents at the end of 4Q06
decreased since part of
cash on hand was deployed to reduce bank borrowing
during the quarter.
Capital Structure
Amounts in US$ thousands 4Q06
3Q06
Cash and cash equivalents 363,620
555,326
Short-term investment 57,951
52,442
Current portion of promissory note 29,242
29,493
Promissory note 77,602
91,314
Short-term borrowings 71,000
45,000
Current portion of long-term debt 103,987
47,160
Long-term debt 786,381
963,139
Total debt 961,368
1,055,299
Net cash (646,641)
(568,338)
Shareholders' equity 3,007,938
2,999,854
Total debt to equity ratio 32.0%
35.2%
Cash Flow
Amounts in US$ thousands 4Q06
3Q06
Net income (loss) 1,222
(35,094)
Depreciation & amortization
239,478 225,755
Amortization of acquired intangible
assets 11,292
11,041
Net change in cash
(191,706) (29,318)
Capex Summary
-- Capital expenditures for 4Q06 was $211.6 million.
-- Total planned capital expenditures for 2007 will be
approximately $720
million and will be adjusted based on market
conditions.
First Quarter 2007 Guidance
The following statements are forward looking statements
which are based on current expectation and which involve
risks and uncertainties, some of which are set forth under
"Safe Harbor Statements" above.
-- Revenues expected to remain flat from the fourth
quarter.
-- Gross margins expected to be in the 12% to 14%
range.
-- Operating expense excluding any gain from disposal
as a percentage of
sales expected to be in the mid-teens.
-- Free cash flow of around $30 million. Free cash
flow is defined as
EBITDA less capex.
-- Capital expenditures expected to be approximately
$170 million to $190
million and total capex for 2007 will be
approximately $720 million.
-- Depreciation and amortization expected to be
approximately $185
million to $195 million.
Beginning in the first quarter of 2007, the accounting
estimate in the relation to the useful life of fab-related
machinery and equipment will be modified. This change will
have an effect on the gross margin and depreciation
guidance. Currently, we use a five-year straight-line
depreciation method. We consider the current useful life
estimate overly conservative in light of the expected
economic life of the equipment as well as the industry
general practice. We will therefore change the useful life
estimate to a five to seven year range, which is consistent
with industry practice, and will more accurately reflect
the economics associated with the ownership of the
equipment.
Recent Highlights and Announcements
-- Saifun and SMIC to Collaborate on 8Gb Data Flash
Using SMIC's Advanced
Process Technology (2006-11-23)
-- SMIC announces acceptance of filing of a complaint
by the High Court
of Beijing, China against TSMC's breach of bona fide
(ie. integrity,
good faith) principle and commercial defamation
(2006-11-17)
-- CADENCE AND SMIC Collaborate to Address Wireless
Design Challenges in
China (2006-11-9)
-- SMIC Reports 2006 Third Quarter Results
(2006-10-31)
-- SMIC Holds 2006 Technology Symposium in Shenzhen
(2006-10-13)
Please visit SMIC's website at
http://www.smics.com/website/enVersion/Press_Center/pressRelease.jsp
for further details regarding the recent announcements.
Semiconductor Manufacturing International Corporation
CONSOLIDATED BALANCE SHEET
(In US dollars)
As of
the end of
December 31, 2006
September 30, 2006
(unaudited)
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents 363,619,731
555,325,635
Short term investments 57,950,603
52,441,975
Accounts receivable, net of
allowances of $4,048,845 and
$ 4,068,373 respectively 252,184,975
265,522,541
Inventories 275,178,952
243,956,844
Prepaid expense and other current
assets 91,311,505
25,624,762
Assets held for sale 9,420,729
14,875,528
Total current assets 1,049,666,495
1,157,747,285
Land use rights, net 38,323,333
38,180,494
Plant and equipment, net 3,244,400,822
3,295,734,677
Acquired intangible assets, net 166,199,390
172,279,451
Equity investment 13,619,643
14,663,371
Other long-term prepayments 4,119,433
4,568,174
Deferred tax assets 25,286,900
22,014,394
TOTAL ASSETS 4,541,616,016
4,705,187,846
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable 309,129,199
353,325,028
Accrued expenses and other
current liabilities 96,927,345
107,858,006
Short-term borrowings 71,000,000
45,000,000
Current portion of promissory note 29,242,001
29,492,873
Current portion of long-term debt 103,986,968
47,160,000
Income tax payable 72,417
39,875
Total current liabilities 610,357,930
582,875,782
Long-term liabilities:
Promissory note 77,601,657
91,314,355
Long-term debt 786,380,905
963,138,943
Long-term payables relating to
license agreements 16,992,950
21,597,408
Other long-term payables 3,333,333
6,666,667
Deferred tax liabilities 210,913
--
Total long-term liabilities 884,519,758
1,082,717,373
Total liabilities 1,494,877,688
1,665,593,155
Minority interest 38,800,666
39,741,186
Stockholders' equity:
Ordinary shares£¬$0.0004 par
value, 50,000,000,000
shares authorized, shares
issued and outstanding
18,432,756,463 and
18,402,634,216 respectively 7,373,103
7,361,054
Warrants 32,387
32,387
Additional paid-in capital 3,288,733,077
3,281,801,407
Accumulated other comprehensive
income 91,840
173,321
Accumulated deficit (288,292,745)
(289,514,664)
Total stockholders' equity 3,007,937,662
2,999,853,505
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY 4,541,616,016
4,705,187,846
Semiconductor Manufacturing International Corporation
CONSOLIDATED STATEMENT OF OPERATIONS
(In US dollars)
For the
three months ended
December 31, 2006
September 30, 2006
(unaudited)
(unaudited)
Sales 383,812,708
368,926,309
Cost of sales 358,452,295
336,160,028
Gross profit 25,360,413
32,766,281
Operating expenses:
Research and development 21,719,578
27,319,652
General and administrative 14,562,807
4,215,807
Selling and marketing 4,728,691
3,613,868
Income from disposal of
properties (41,733,713)
--
Amortization of acquired
intangible assets 11,292,059
11,041,090
Total operating expenses 10,569,422
46,190,417
Income (Loss) from operations 14,790,991
(13,424,136)
Other income (expenses):
Interest income 3,311,293
2,970,318
Interest expense (14,263,257)
(12,247,344)
Exchange loss (7,091,494)
(12,453,679)
Other income (expenses)£¬net 1,575,094
784,059
Total other income (expenses), net (16,468,364)
(20,946,646)
Net loss before income tax (1,677,373)
(34,370,782)
Income tax credit (expense) 3,002,499
3,047,443
Minority interest 940,520
(2,674,339)
Loss from equity investment (1,043,727)
(1,096,796)
Net income (loss) attributable to
holders of ordinary shares 1,221,919
(35,094,474)
Net income (loss) per share, basic 0.0001
(0.0019)
Net income (loss) per ADS, basic(1) 0.0033
(0.0956)
Net income (loss) per share, diluted 0.0001
(0.0019)
Net income (loss) per ADS,
diluted(1) 0.0033
(0.0956)
Ordinary shares used in calculating
basic income (loss) per ordinary
share (in millions) 18,398
18,356
Ordinary shares used in calculating
diluted income (loss) per ordinary
share (in millions) 18,609
18,356
*Share-based compensation related to
each account balance as follows:
Cost of sales 2,734,870
2,840,286
Research and development 1,123,070
1,190,467
General and administrative 1,281,390
1,179,175
Selling and marketing 492,828
493,529
(1) 1 ADS equals 50 ordinary shares
Semiconductor Manufacturing International Corporation
CONSOLIDATED STATEMENT OF CASH FLOWS
(In US dollars)
For the
three months ended
December 31, 2006
September 30, 2006
(Unaudited)
(Unaudited)
Operating activities
Net income (loss) 1,221,919
(35,094,474)
Adjustments to reconcile net income
(loss) to net cash provided
by (used in) operating activities:
Minority interest (940,520)
2,674,339
Gain on disposal of plant and
equipment (41,733,713)
(872,422)
Depreciation and amortization 239,478,464
225,754,616
Amortization of acquired intangible
assets 11,292,060
11,041,090
Amortization of deferred stock
compensation 5,632,156
5,703,457
Amortization of loan initiation fee 179,848
179,846
Non cash interest expense 1,365,081
1,368,710
Loss from equity investment 1,043,728
1,096,795
Changes in operating assets and
liabilities:
Accounts receivable, net 13,337,566
(8,274,203)
Inventories (31,222,108)
(26,364,459)
Prepaid expense and other current
assets (2,932,945)
(5,243,468)
Accounts payable 27,419,295
7,039,215
Accrued expenses and other current
liabilities (17,619,629)
24,167,325
Other long term liabilities (3,333,334)
(3,333,333)
Income tax payable 32,542
19,327
Deferred tax assets and liabilities (3,061,593)
(3,121,998)
Net cash provided by operating
activities 200,158,817
196,740,363
Investing activities:
Purchase of plant and equipment (276,468,642)
(241,450,500)
Proceeds from disposal of plant and
equipment 532,214
2,327,095
Proceeds from living quarter sales 1,609,274
5,476,213
Purchases of acquired intangible
assets (4,327,949)
(3,553,501)
Purchase of short-term investments (60,729,572)
(74,329,245)
Sale of short-term investments 55,208,572
25,384,332
Net cash used in investing
activities (284,176,103)
(286,145,606)
Financing activities:
Proceeds from short-term borrowing 31,000,000
75,717,105
Proceeds from long-term debt --
132,395,944
Repayment of promissory notes (15,000,000)
--
Repayment of long-term debt (119,931,070)
--
Repayment of short-term debt (5,000,000)
(149,000,934)
Proceeds from exercise of employee
stock options 1,319,483
990,365
Repurchase of restricted ordinary
shares (7,922)
(14,589)
Net cash provided by (used in)
financing activities (107,619,509)
60,087,891
Effect of exchange rate changes (69,109)
(420)
NET DECREASE IN CASH AND CASH
EQUIVALENTS
(191,705,904) (29,317,772)
CASH AND CASH EQUIVALENTS, beginning
of period 555,325,635
584,643,407
CASH AND CASH EQUIVALENTS, end of
period 363,619,731
555,325,635
For more information, please contact:
Investor Contacts:
Peter Yu
Tel: +86-21-5080-2000 x11319
Email: peter_yu@smics.com
Mobile: +86-139-1894-0553
Douglas Hsiung
Tel: +86-21-5080-2000 x12804
Email: douglas_hsiung@smics.com
Mobile: +86-137-9527-2240
SOURCE Semiconductor Manufacturing International
Corporation
2007'02.11.Sun
World Cancer Day, 4 February 2007 Marks Launch of World Cancer Campaign
January 31, 2007
Messages offer healthy lessons parents can share with their
children
GENEVA, 30 Jan. /Xinhua-PRNewswire/ -- It is an amazing
statistic: 43 percent of cancer cases can be prevented
through healthy lifestyles established in childhood. The
World Cancer Campaign - "Today's Children, Tomorrow's
World" - underscores prevention by sharing knowledge
about lifestyle behaviours.
(Photo:
http://www.newscom.com/cgi-bin/prnh/20070130/CLTU006 )
The International Union Against Cancer (UICC) - a
Geneva-based NGO - and member organisations in 86 countries
will launch the campaign on World Cancer Day. Targeting
parents, health-care professionals and policymakers, the
campaign presents a common theme: fostering healthy habits
during childhood can help prevent cancer later in life.
(campaign.uicc.org)
The World Cancer Campaign four key messages are:
- Provide a smoke-free environment for children
- Be physically active, eat a healthy diet, and avoid
obesity
- Learn about vaccines for virus-related liver and
cervical cancers
- Avoid over-exposure to the sun
More than seven million people die from cancer and
close to 11 million new cases are diagnosed every year. In
2006, cancer killed more people than AIDS, malaria and
tuberculosis combined. (facts.uicc.org)
"Cancer strikes all segments of society in every
country. The good news is cancer is largely
preventable," says Isabel Mortara, UICC executive
director. "The first steps toward prevention are
education and action. That needs to start with
children."
In addition to targeting individuals, the World Cancer
Campaign encourages policy decision-makers to put cancer on
the public agenda.
"Cancer control can only be effective if given
priority at the highest decision-making levels. Complacency
and inaction on the part of the world community will
effectively contribute to more than 10 million deaths every
year by 2020," says Dr Franco Cavalli, UICC president.
Former United States First Lady Barbara Bush, Her Royal
Highness Lalla Salma of Morocco, Nigerian President Olusegun
Obasanjo, and tennis star Steffi Graf are among those
lending their voices to the World Cancer Campaign with
encouragement for those touched by cancer.
(voices.uicc.org)
The UICC is a global resource for action with more than
270 member organisations in Africa, The Americas,
Asia-Pacific, Europe, and the Middle East. (
http:///members.uicc.org .)
/NOTE TO EDITORS: Artwork is available at (
http://artwork.uicc.org )/
For more information, please contact:
Europe, Middle East & Africa:
J.J. Divino
International Union Against Cancer
Geneva,
Tel: +41-22-809-1878
Email: divino@uicc.org
Americas & Asia-Pacific:
Washington
Tel: +1-202-558-3583
Mexico City
Tel: +525-585-252806
Email: media@uicc.org
SOURCE International Union Against Cancer (UICC)
2007'02.11.Sun
The9 Limited Signs Agreement with Blizzard Entertainment(R) to Rollout World of Warcraft(R): The Burning Crusade(TM) in Mainland China
January 30, 2007
SHANGHAI, China, Jan. 30 /Xinhua-PRNewswire/ -- The9
Limited (Nasdaq: NCTY), a leading online game operator in
China, today announced that it has entered into an
amendment to the original license agreement with Vivendi
Games, Inc. and Blizzard Entertainment(R), to rollout The
Burning Crusade(TM), the highly anticipated expansion pack
for the World of Warcraft(R) game in mainland China. The9
is the exclusive operator of the World of Warcraft(R) game
in mainland China pursuant to the license agreement entered
into between Vivendi Games, Inc. and The9 in February 2004.
About The9 Limited
The9 Limited is a leading online game operator in
China. The9's business is primarily focused on operating
and developing MMORPGs for the Chinese online game players
market. The9 directly or through affiliates operates
licensed MMORPGs, consisting of Blizzard Entertainment(R)'s
World of Warcraft(R), MU(R) and Mystina Online(R) and its
first proprietary MMORPG, Joyful Journey West(TM), in
China. It has also obtained exclusive licenses to operate
additional MMORPGs in China, including Granado Espada(R),
Soul of The Ultimate Nation(R), Guild Wars(R), Hellgate:
London(R), Ragnarok Online 2(R) and Emil Chronicle
Online(R). In addition, The9 is also working on the
development of a 3D fantasy MMORPG game, Fantasy Melody
Online(TM).
For further information, please contact:
Ms. Dahlia Wei
Senior Manager, Investor Relations
The9 Limited
Tel: +86-21-5172-9990
Email: IR@corp.the9.com
Web: http://www.corp.the9.com
SOURCE The9 Limited
2007'02.11.Sun
Tele Atlas Expands Digital Map Coverage to 64 Countries
January 30, 2007
With Latest Maps of Middle Eastern Countries, Company Takes
Lead in Delivering Digital Maps Covering One Billion
Inhabitants Across Six Continents
`S-HERTOGENBOSCH, Netherlands, Jan. 30
/Xinhua-PRNewswire/ -- Tele Atlas (FSE: TA6, EUNV: TA), a
leading global provider of digital maps and dynamic content
for navigation and location based solutions, today announced
the availability of digital maps for Saudi Arabia and Egypt,
bringing the number of countries that Tele Atlas maps cover
to more than 64 across six continents. The total amount of
road coverage in the company's database now stands at 21.3
million kilometers or 13.2 million miles, the same number
of miles as 528 trips around the earth's circumference at
the equator.
Tele Atlas digital maps feature detailed street-level
and complete interconnecting road networks to allow
application developers and device manufacturers in the
personal navigation, automotive and Internet and wireless
application markets to guide users seamlessly across
country borders. The announcement follows Tele Atlas'
recent delivery of digital maps covering Central and
Eastern Europe and South Africa, and is in response to
increased demand from global customers for consistently
detailed and highly accurate maps of all major countries
around the world.
"Our growing base of customers and partners, among
them Nokia, TomTom and Mio, want to deliver a comprehensive
set of services to their wireless and navigation system
users, wherever they are," said Tele Atlas Vice
President of Product Marketing Basak Ozer. "Tele Atlas
now delivers the most digital maps with the highest level of
detail required to build and deliver fully functional, high
performance navigation and local search solutions."
About Tele Atlas
Tele Atlas delivers the digital maps and dynamic
content that power some of the world's most essential
navigation and location-based services. The information is
the foundation for a wide range of personal and in-car
navigation systems and mobile and Internet map applications
that help users find the people, places, products and
services they need, wherever they are. We also work with
business partners who trust our digital map data to deliver
critical applications for emergency, business, fleet and
infrastructure services. Founded in 1984, the company
provides maps covering 64 countries around the world. Tele
Atlas has approximately 2,300 full-time staff and contract
cartographers at offices in 20 countries and uses a
sophisticated network of professional drivers, mobile
mapping vans and more than 50,000 data resources to deliver
highly accurate and up-to-date digital maps. Tele Atlas is
listed on the Frankfurt Stock Exchange (TA6) and on
Euronext Amsterdam (TA). For more information, visit
http://www.teleatlas.com .
For more information, please contact:
Erin Delaney
Tele Atlas North America
Tel: +1-617-570-6352
Email: erin.delaney@teleatlas.com
Christine Needles
Porter Novelli for Tele Atlas
Tel: +1-617-897-8287
Email: christine.needles@porternovelli.com
Dirk Snauwaert
Tele Atlas EMEA
Tel: +32-475-69-30-97
Email: dirk.snauwaert@teleatlas.com
SOURCE Tele Atlas
2007'02.11.Sun
Quellan Unveils Breakthrough Interconnect for Mega Data Centers
January 30, 2007
Industry's thinnest, lightest active cable improves the
speed, reach and airflow to revolutionize next generation
Data Centers.
SANTA CLARA, Calif., DesignCon 2007, Jan. 30
/Xinhua-PRNewswire/ -- Quellan Incorporated, a leader in
noise cancellation ICs, in collaboration with Leoni, today
announced the availability of the world's smallest gauge
active cable for use in today's mega data centers.
Embedding Quellan's Q:Active components in each end of a
passive cable boosts signals and reduces noise yielding a
decrease in cable diameter by 70% while increasing cable
reach up to three times that of traditional passive
cabling.
"The need for extended interconnect reach, reduced
weight and latency and increased air flow is of paramount
importance to next generation data centers," said
Lloyd Dickman, CTO, System Interconnect Group, QLogic.
"Quellan has clearly demonstrated that their active
cable collaboration has yielded an innovative family of
products to meet this burgeoning market need."
With passive cables, the propagating data is attenuated
and distorted; a problem compounded with higher data rates
and smaller gauge cabling. With Quellan's Q:Active
technology embedded inside connectors, the impairments are
removed and cabling can now run 3 to 4 times farther, and
operate at 1/3 the diameter of current cabling options.
"Our data center customers have been clamoring for
lighter, longer reach, and lower powered interconnects to
alleviate the weight and bulk problems associated with
today's mega data centers," said Henning Hansen,
General Manager of Leoni, North America." By
activating our advanced cable technology with Q:Active from
Quellan, we can solve this problem and revolutionize the
industry."
Mega data centers currently utilize interconnect
conduits that reach 12 feet in diameter and weigh as much
as 3 tons. Q:Active reduces the weight of these conduits to
just a fraction of existing deployments. This results in
dramatically increased air flow, lower overall power
consumption and greater density in the data center.
Quellan will demonstrate its Q:Active technology for
both 10 Gigabit Ethernet, CX4 and Double Data Rate
Infiniband at Silicon Valley's DesignCon Technical
Conference, booth 112.
About Quellan
Quellan's adaptive Noise Cancellation chips are a
subset of the ever expanding Analog IC market, expected to
grow to US$47B in 2007. Quellan serves the Enterprise,
Telecom, Broadcast, Automotive and Consumer Electronics
markets with ultra-low power devices that improve the
performance of datacenter interconnects, wireless handsets,
laptop computers and game consoles. For more information
visit http://www.quellan.com ; email
pressrelations@quellan.com.
For more information, please contact:
Kristen Domingo
Quellan
Tel: +1-408-625-2200
Email: pressrelations@quellan.com
SOURCE Quellan Incorporated
2007'02.11.Sun
The ZAP-X Crossover Electric Car - 155mph, 644 Horsepower, Based on the APX Technical Demonstrator Vehicle Designed & Developed by Lotus Engineering
January 30, 2007
ZAP-X features all wheel drive, 10 minute recharge time, a
350 Mile Range and will be the center piece of the NADA
Exhibition, February 3rd to 6th.
LAS VEGAS, Jan. 30 /Xinhua-PRNewswire/ -- Automotive
pioneer ZAP (OTC Bulletin Board: ZAAP) today announced
plans to display Lotus Engineering's advanced APX concept
car at the North American Dealers Association (NADA) annual
meeting and exhibition, February 3 to 6, 2007, confirming
their choice to move ahead using Lotus' revolutionary
platform and body structure design as the basis for the
development of the high performance electric ZAP-X.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20070130/SFTU060 )
ZAP and Lotus Engineering will begin the first phase of
an engineering project to use the British consultancy's APX
("Aluminum Performance Crossover") as a basis for
designing a production-ready electric all-wheel drive
crossover high performance vehicle for ZAP in the USA
market.
A combination of the lightweight aluminum vehicle
architecture, a new efficient drive and advanced battery
management systems is intended to enable a range of up to
350 miles between charges, with a rapid 10-minute
recharging time. An auxiliary power unit is planned to
support longer distance journeys.
Lotus' APX's conventional gasoline V6 engine will be
replaced by revolutionary in-hub electric motors,
delivering 644 horsepower in all wheel drive mode,
theoretically capable of powering the ZAP-X to a potential
top speed of 155mph. A new strong, lightweight and highly
efficient structure based on the Lotus technology is
planned to give the car a very attractive power-to-weight
ratio.
Steve Schneider, CEO of ZAP, said: "Lotus
Engineering's APX technology demonstrator vehicle is a
perfect fit for our plans to introduce a full product
portfolio of electric cars. Due to the initial design by
Lotus, our cost and time to production will be
significantly reduced. We believe that the ZAP-X will
become the most advanced, most practical and most appealing
flagship electric vehicle to date and will revolutionize the
industry providing the driver with the enjoyment of a sports
car and the practicality of an SUV."
Mike Kimberley, CEO of Group Lotus plc, said:
"Lotus Engineering's APX is a world-class innovative
concept and was developed to showcase real solutions to new
challenges facing the automotive industry. So it's very
satisfying that ZAP's proposed new model will make use of a
great deal of the APX concept's advanced body structure and
chassis technology. The bringing together of these
next-generation vehicle technologies represents another
significant step forward for automotive technology."
The APX showcases Lotus Engineering's Versatile Vehicle
Architecture technology, combining lightweight aluminum
vehicle architecture with exceptionally strong and stiff
structural rigidity, as well as lower manufacturing
investment requirements. Having first been shown to the
world at the Geneva motor show in 2006, the APX concept has
won the 2006 European Aluminium Awards in the
"Transport and Automotive" category.
The innovative placement of the power train leaves the
space previously occupied by the conventional engine and
drive train for additional battery capacity and amenities,
making it a very consumer-oriented electric car concept.
These design features will give the ZAP-X crossover the
structural strength, and potentially storage and range that
no electric vehicle has yet achieved publicly.
The development programme is proposed to be managed
from a new centre of excellence for research and
development of environmentally-friendly vehicle designs and
technologies. Engineering input will come from Lotus
Engineering Inc, and the British technology consultancy's
other R&D centers in the UK, Malaysia and China.
About Lotus Engineering
Lotus Engineering has been behind the design and
construction of some of the most successful cars in history
and is one of the world's premier automotive consultancies
with engineering centers in Asia, North America and Europe.
Employed by many of the major car manufacturers, Lotus
Engineering maintains a strong tradition of excellence in
the automotive business with cutting-edge engineering
expertise, and talented, visionary staff. Lotus Engineering
offers full engineering services capable of taking a project
from initial concept and product design, through
development, testing and prototype build, as well as
production and production support.
Lotus is one of only two OEMs that has experience in
designing, developing, manufacturing and marketing its own
products offering this range of expert services to third
parties. This gives Lotus a highly respected premium
position in today's automotive industry. For more
information, visit http://www.grouplotus.com .
About ZAP
ZAP currently markets the only city-speed electric car
and truck available in the United States through a new
automotive distribution portal marketing a complete lineup
of advanced technology vehicles. ZAP's authorized auto
dealer network will offer sales, service and parts
distribution for the lineup of vehicles being developed by
ZAP and its strategic partners in Europe, Asia and South
America.
ZAP has been a leader in advanced transportation
technologies since 1994, delivering nearly 100,000 vehicles
to consumers in more than 75 countries. ZAP is at the
forefront of fuel-efficient transportation with new
technologies including energy efficient gas systems,
hydrogen, electric, fuel cell, alcohol, hybrid and other
innovative power systems. For more information, visit
http://www.zapworld.com .
Forward-Looking Statements
Statements in this press release that relate to future
plans or projected results of ZAP are "forward-looking
statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended by the Private
Securities Litigation Reform Act of 1995 (the
"PSLRA"), and Section 21E of the Securities
Exchange Act of 1934, as amended by the PSLRA, and all such
statements fall under the "safe harbor" provisions
of the PSLRA. ZAP's actual results may vary materially from
those described in any "forward-looking
statement" due to, among other possible reasons, the
continued acceptance of ZAP's products, increased levels of
competition, new products and technological changes, ZAP's
dependence on third-party suppliers, intellectual property
rights, and the realization of any of the other risks
described in ZAP's Annual Report on Form 10-KSB, or in any
of ZAP's other filings with the Securities and Exchange
Commission. Readers of this press release are cautioned not
to put undue reliance on forward-looking statements.
For more information, please contact:
Eveline Souza
Media Relations
Tel: +1-707-525-8658, ext. 216
Email: esouza@zapworld.com
Sherri Haskell
Investor Relations.
Tel: +1-707-525-8658, ext. 232
Email: shaskell@zapworld.com
Mike Stainton or Patrick Peal
Band & Brown Communications
Tel: +44-1603-417722
Email: mike.stainton@bbpr.com / patrick@bbpr.com
Alastair Florance
Group Lotus PR Manager
Tel: +44-1953-608462
Email: Aflorance@lotuscars.co.uk
SOURCE ZAP
2007'02.11.Sun
IHG's Latest Crowne Plaza Signing Brings Total Greater China Portfolio to 125 Hotels
January 30, 2007
Company on track to reach target of having 125 hotels open
by end of 2008
SHANGHAI, China, Jan. 30 /Xinhua-PRNewswire/ --
InterContinental Hotels Group (IHG) (LON: IHG; NYSE: IHG
(ADRs)) announced today the signing of the Crowne Plaza Sun
Palace Beijing, scheduled to open in early 2008. This
announcement highlights the pace of IHG's growth in Greater
China, where it now has a total portfolio of 125 hotels - 65
in operation and an additional 60 in the development
pipeline.
A. Patrick Imbardelli, chief executive of IHG Asia
Pacific, said: "China is set to become the world's
number one tourism market in the next 10-15 years. With 65
hotels in operation and a plan to have 125 hotels open by
the end of 2008, we already have a good profitable business
model. We continue to explore new opportunities to maintain
our lead position so that we are able to capture the
growing inbound and outbound demand in the years to
come."
Crowne Plaza Sun Palace Beijing is being developed by
Yunnan Metropolitan Construction Investment Co Ltd and will
be managed by IHG. The 540-room new-build hotel will be
located in the city centre, close to the Beijing
International Exhibition Centre. The hotel, IHG's fourth
Crowne Plaza hotel in Beijing, will have seven restaurants
and bars and over 3,400 square metres of meeting space.
Other highlights in IHG's China pipeline include the
InterContinental Qingdao located within the Olympic
integrated complex; InterContinental Beijing North, Beijing
Olympic Centre's first luxury hotel and Crowne Plaza
International Airport Beijing, IHG's first airport hotel in
China.
Crowne Plaza Hotels & Resorts is an upscale hotel
brand aimed at the business and meetings market. The hotels
provide business travellers and meeting planners with
comprehensive services and facilities that contribute to
successful interactions. Two Crowne Plaza in China, the
Crowne Plaza Shenzhen and Crowne Plaza Jinan, were named in
Forbes Magazine's China's Best Business Hotels Award.
Notes to Editors:
InterContinental Hotels Group PLC of the United Kingdom
(LON:IHG, NYSE:IHG (ADRs)) is the world's largest hotel
group by number of rooms. IHG owns, manages, leases or
franchises, through various subsidiaries, over 3,650 hotels
and 543,775 guest rooms in nearly 100 countries and
territories around the world.
The Group owns a portfolio of well recognised and
respected hotel brands including InterContinental(R) Hotels
& Resorts, Crowne Plaza(R) Hotels & Resorts, Holiday
Inn(R) Hotels and Resorts, Holiday Inn Express(R),
Staybridge Suites(R), Candlewood Suites(R) and Hotel
Indigo(R), and also manages the world's largest hotel
loyalty programme, Priority Club(R) Rewards with over 30
million members worldwide.
IHG offers information and online reservations for all
its hotel brands at http://www.ichotelsgroup.com and
information for the Priority Club Rewards programme at
http://www.priorityclub.com .
For the latest news from IHG, visit our online Press
Office at http://www.ihgplc.com/media .
For more information, please contact:
Sharona Tao
InterContinental Hotels Group
Tel: +86-21-2893-3309
Fax: +86-21-2893-3399
Email: sharona.tao@ihg.com
SOURCE InterContinental Hotels Group PLC
2007'02.11.Sun
Platts Now Reporting Daily Prices of Hot-Rolled Coil and Rebar with Launch of Newest Publication, 'Steel Markets Daily'
January 30, 2007
LONDON, Jan. 30 /Xinhua-PRNewswire/ -- Platts, the
world's leading provider of energy and commodities
information, today launched Steel Markets Daily, which
provides price benchmarks, news, and market commentary on
steel, one of the world's most strategic commodities. The
product is targeted to the steel, construction, and
automotive industries as well as commodities-focused money
managers. Platts, a division of The McGraw-Hill Companies,
has been covering metals markets for more than 75 years.
"The steel industry has undergone massive
transformation driven by rising global demand, industry
consolidation, and increasing price volatility," said
Karen McBeth, Platts Global Director of Metals.
"Producers and consumers have a critical need for
reliable information to manage their price risk, and they
are looking to Platts as the source for independent,
accurate and timely information."
Francis Browne, a steel expert formerly with Stemcor,
MAN Ferrostaal AG, and Coutinho Caro, has been named
Executive Editor of the new publication and will retain the
title of Platts Global Managing Editor of Steel. The
product will also be supported by Joe Innace who is the
Managing Editor of Steel for North America. He joined the
Platts team from World Steel Dynamics.
"Steel Markets Daily" will include spot
domestic and import prices for:
* Hot-rolled coil (HRC), the most widely produced
flat-rolled steel which
is used for construction, appliance and automotive
purposes; and
* Reinforcing bar (rebar), used in construction of
buildings, roads and
bridges.
Prices will be quoted on a "from the mill"
plus customs, insurance and freight (CIF) or a free on
board (FOB) basis.
"For nearly a century, Platts has enabled global
energy and metals markets to operate with greater
transparency and efficiency. With the launch of Steel
Markets Daily, we are proud to extend our capabilities into
the steel markets," said Platts President Victoria Chu
Pao. "We have engaged closely with the industry and
the London Metal Exchange in developing this product. Both
physical and financial players in the industry can now
depend on Platts to help them better manage their
risk."
For more information or to request a free trial to
"Steel Markets Daily," visit
http://www.steeldaily.platts.com .
About Platts
Platts, a division of The McGraw-Hill Companies (NYSE:
MHP), is a leading global provider of energy and metals
information. With nearly a century of business experience,
Platts serves customers across more than 150 countries.
From 14 offices worldwide, Platts serves the oil, natural
gas, electricity, nuclear power, coal, petrochemical and
metals markets. Platts' real time news, pricing,
analytical services, and conferences help markets operate
with transparency and efficiency. Traders, risk managers,
analysts, and industry leaders depend upon Platts to help
them make better trading and investment decisions.
Additional information is available at
http://www.platts.com.
About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP)
is a leading global information services provider meeting
worldwide needs in the financial services, education and
business information markets through leading brands
including Standard & Poor's, McGraw-Hill Education,
BusinessWeek and J.D. Power and Associates. The
Corporation has more than 280 offices in 40 countries.
Sales in 2006 were $6.3 billion. Additional information is
available at http://www.mcgraw-hill.com .
For more information, please contact:
Platts
Shiona Ramage
Tel: +44-20-71766153
Asia
Casey Yew
Tel: +65-653-06552
U.S.
Larry Barth
Tel: +1-212-904-4492
SOURCE Platts
2007'02.11.Sun
CeRoma to Collaborate with IBM on Video Technology Solutions
January 30, 2007
CAESAREA, Israel, Jan. 30 /Xinhua-PRNewswire/ -- CeRoma
Ltd. has signed an agreement with IBM to collaborate in the
development, manufacture, marketing, and sale of
high-definition digital media integrated circuits optimized
for multiple applications such as set-top box (STB),
internet protocol television (IPTV), digital television
(DTV) and multiple transmission standards.
CeRoma's vision is to be the market leader in advanced
digital media system on chip products addressing the fast
emerging high throughput, high resolution viewing and
recording needs of the future digital home. CeRoma brings
significant domain expertise for integrated SOC solutions
and multimedia reference systems.
IBM brings experience in both Power Architecture(TM)
SOC development and offerings in the STB marketplace with
over 20 million Power Architecture based standard
definition Set-Top-Box SOCs sold. IBM is enhancing CeRoma's
system on chip capability by offering world class ASIC
methodology, manufacturing, and Power Architecture
expertise. In addition, IBM's sales channels will
complement CeRoma sales capability to quickly bring the
CeRoma branded offerings to market and drive broader
proliferation of the Digital Media solutions.
"With the home market rapidly moving to high
definition video and interactive content, cable,
terrestrial, satellite and IPTV operators will offer end
users services that will need to be processed at the
highest
quality -- while keeping end-users' costs under strict
constraints. This will create a need for high-performance
and highly integrated digital solutions. Combining IBM
technologies, IP, manufacturing capabilities and sales
channels to the market with CeRoma's vision and digital
design expertise is a win-win situation," said Udi
Steigman, CEO CeRoma LTD.
The CeRoma and IBM collaboration is focused on
commercially deploying a family of G1.x products, the first
of which will become commercially available in Q4 2007.
Products will leverage multi-core PowerPC capability for
emerging workloads with multiple High-Definition (HD) media
sources and standards. Each company's capabilities
complement and strengthen the ability to bring desired
solutions into the Consumer market and provide the
opportunity for future collaboration on complementary
applications.
"CeRoma G1.x family of SOCs addresses a growing
demand in the digital arena. CeRoma's vision of the
changing market in home entertainment electronics means
creating products that are on the cutting edge of video,
audio and networking technology. Products that will enable
CeRoma's customers to realize their future product roadmaps
in the most efficient way," continued Mr. Steigman.
"A lifestyle transformation is underway embracing
a digital interactive connected world with technology as
the catalyst," said Ron Martino, Director, Power
Architecture Solutions, IBM Global Engineering Solutions.
"The collaboration between IBM and CeRoma will enable
advanced digital platforms which are complementary to IBM's
current Power Architecture(TM) product and service offerings
focused on delivering the real-life, immersive and
effortless user experience sought by consumers."
About CeRoma
Established in January 2005 by an expert team of
Industry specialists,
funded by private investors from the EU, CeRoma Ltd, is a
fabless semiconductor company based in Caesarea Israel.
CeRoma currently employs about 30 experienced and skilled
engineers from a range of backgrounds including digital
STB, Television, Networking and Telecoms. Positioned as a
leading designer and manufacturer of advanced
system-on-chip(SOC) solutions for digital video
broadcasting, CeRoma develops solutions for next
generation, high volume digital television products. CeRoma
designs and produces innovative and cost-effective solutions
for leading-edge home entertainment products in the rapidly
expanding digital television market.
For more information, please contact:
CeRoma Offices at
Tel: +972-46-377-844
Email: info@ceroma-labs.com
SOURCE CeRoma Ltd.
2007'02.11.Sun
The9 Limited to Present at the Deutsche Bank Access China 2007 Conference
January 29, 2007
SHANGHAI, China, Jan. 29 /Xinhua-PRNewswire/ -- The9
Limited (Nasdaq: NCTY) ("The9"), a leading online
game operator in China, today announced that it will present
at the Deutsche Bank Access China 2007 Conference.
The conference is being held from January 29, 2007 to
February 1, 2007 at the Grand Hyatt Hotel in Beijing,
China. The9's Vice President and Chief Financial Officer,
Miss Hannah Lee, is scheduled to present at 10:30 a.m.
Beijing Time on Thursday, February 1, 2007.
About The9 Limited
The9 Limited is a leading online game operator in
China. The9's business is primarily focused on operating
and developing MMORPGs for the Chinese online game players
market. The9 directly or through affiliates operates
licensed MMORPGs, consisting of Blizzard Entertainment(R)'s
World of Warcraft(R), MU(R) and Mystina Online(R) and its
first proprietary MMORPG, Joyful Journey West(TM), in
China. It has also obtained exclusive licenses to operate
additional MMORPGs in China, including Granado Espada(R),
Soul of The Ultimate Nation(R), Guild Wars(R), Hellgate:
London(R), Ragnarok Online 2(R) and Emil Chronicle
Online(R). In addition, The9 is also working on the
development of a 3D fantasy MMORPG game, Fantasy Melody
Online(TM).
Safe Harbor Statement
This announcement contains forward-looking statements.
These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be
identified by terminology such as "will,"
"expects," "anticipates,"
"future," "intends," "plans,"
"believes," "estimates" and similar
statements. Among other things, the business outlook and
quotations from management in this press release contain
forward-looking statements. The9 may also make written or
oral forward-looking statements in its periodic reports to
the U.S. Securities and Exchange Commission on Forms 20-F
and 6-K, etc., in its annual report to shareholders, in
press releases and other written materials and in oral
statements made by its officers, directors or employees to
third parties. Statements that are not historical facts,
including statements about The9's beliefs and expectations,
are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ
materially from those contained in any forward-looking
statement. Potential risks and uncertainties include, but
are not limited to, The9's limited operating history as an
online game operator, political and economic policies of
the Chinese government, the laws and regulations governing
the online game industry, information disseminated over the
Internet and Internet content providers in China,
intensified government regulation of Internet cafes, The9's
ability to retain existing players and attract new players,
license, develop or acquire additional online games that
are appealing to users, anticipate and adapt to changing
consumer preferences and respond to competitive market
conditions, and other risks and uncertainties outlined in
The9's filings with the U.S. Securities and Exchange
Commission, including its annual reports on Form 20-F.
The9 does not undertake any obligation to update any
forward-looking statement, except as required under
applicable law.
For further information, please contact:
Ms. Dahlia Wei
Senior Manager, Investor Relations
The9 Limited
Tel: +86-21-5172-9990
Email: IR@corp.the9.com
Web: http://www.corp.the9.com
SOURCE The9 Limited
2007'02.11.Sun
Rabbit Semiconductor, Inc. Introduces the RCM4200 RabbitCore with 10/100 Ethernet Connectivity
January 29, 2007
Robust module is Ideal for Embedded Control,
Serial-to-Ethernet and Data-Logging Applications
DAVIS, Calif., Jan. 29 /Xinhua-PRNewswire/ -- Rabbit
Semiconductor, Inc. is proud to introduce the RCM4200
RabbitCore module, equipped with 10/100 Ethernet
connectivity, GPIO with on-board analog input, and serial
flash memory. The robust features of the RCM4200 support
countless applications like embedded data-logging, remote
device monitoring and control, serial to Ethernet
communications, point of sale, industrial control, building
automation/security and networking.
The RCM4200 is powered by the Rabbit 4000
microprocessor running at up to 58.98 MHz, and features
hardware DMA, quadrature decoder, up to 35 GPIO lines
shared with up to five serial ports, and four levels of
alternate pin functions. The RCM4200 has 8Mbytes of
on-board serial flash memory (RCM4210 with 4Mbytes),
perfect for remote data storage, optional 8 channel analog
input for simple interfacing to a wide variety of sensors,
and an operating range of -40¡ã C to +85¡ã C to withstand
applications in mobile or industrial environments. Because
the RCM4200 is designed to be electrically pin-compatible
with other Rabbit 4000-based RabbitCore modules, the
RCM4200 allows developers to select the most cost-effective
control module to suit their application requirements.
The RCM4200 family comes in two flavors -- the RCM4200
and the RCM4210 with varying processor speed, analog
availability, and serial flash size. For rapid
development, there is an available RCM4200 Development Kit
that contains the higher speed RCM4200, a development
board, the latest Dynamic C integrated development software
with hundreds of samples and libraries, and with all the
accessories that is needed for a quick start to development
and evaluation. The RCM4200 is priced at $89 Qty100, and the
RCM4210 is priced at $81 Qty100. The complete RCM4200
Development Kit is competitively priced at $269 Qty1.
For more information please contact Rabbit
Semiconductor at T: 530-757-8400, F: 530-757-8402, E:
rabbit@rabbit.com. For product photos and diagrams, please
visit
http://www.rabbitsemiconductor.com/press/productPhotosLogos.shtml
.
For more information, please contact:
Hokie Chan
Digi International
Tel: +852-2235-2206
Email: hokiec@digi.com
SOURCE Digi International
2007'02.11.Sun
James Bond Franchise Makes Historic Debut in China With Premieres of Casino Royale in Beijing and Shanghai
January 29, 2007
Actors Daniel Craig and Eva Green Headline Beijing and
Shanghai Premieres
BEIJING, Jan. 29 /Xinhua-PRNewswire/ -- "Bond...
James Bond." Cinematic history will be made Monday
night in Beijing when Daniel Craig, the star of Sony
Pictures Entertainment and MGM's Casino Royale, utters the
famous line on-screen at the premiere of the film in
Beijing, marking the first time in the 45-year history of
the franchise that James Bond will be seen on the big
screen in the world's most populous country.
Craig, along with co-star Eva Green, director Martin
Campbell and producers Michael G. Wilson and Barbara
Broccoli, will be in attendance. Casino Royale will make
its debut in Shanghai, which will be followed by a
nationwide release, breaking records for the widest release
ever for a foreign film in China.
The release of Casino Royale in China is the latest
achievement from Sony Pictures Entertainment, which became
the first major U.S. entertainment company to acquire,
produce and distribute Chinese language films worldwide.
SATELLITE INFORMATION
EUROPE
Feed 1
January 29th, 2007
10:00PM-10:15PM London Local (2200-2215 GMT)
Feed #2
January 30th, 2007
6:00AM-6:15AM London Local (0600-0615 GMT)
Satellite: Eutelsat W1 Transponder B4 Middle Ch 1
Downlink Frequency: 11079.5 MHz Vertical
FEC: 3/4
Symbol: 5.6320 MS/sec
Color: PAL
Uplink: Arqiva Winchester - UKI-WIN3 +44 (0) 1962
823000
Also available at BT Tower
1st feed: Pactv London's ABQ H03 2nd feed: ABQ H11
UK broadcasters can call for complementary refeeds via
Tower. +44.207.702.1427
ASIA/PACIFIC
Feed 1 January 30th, 2007
7:00AM-7:15AM Tokyo Local (2200-2215 GMT on 1/29/07)
Feed #2
January 30th, 2007
11:00AM-11:15AM Tokyo Local (0200-0215 GMT)
Satellite: PAS-2/08C MCPC CH.2 (169' E)
Downlink: 3901.000 MHz Horizontal
FEC: 3/4, Symbol Rate (Ms/s): 30.80000
Virtual Channel: 2, Network ID: 1
Color: NTSC
Uplink: PAS NAPA +707.253.9466
Playout: Pacific Television 310.287.3800
LATIN AMERICA
Feed 1
January 29th, 2007
7:00PM-7:15PM Buenos Aires Local (2200-2215 GMT)
Feed #2
January 30th, 2007
7:00AM-7:15AM Buenos Aires Local (1000-1015 GMT)
Satellite: PAS-9/10C MCPC CH.7 (58' W)
Downlink: 3880.000 MHz Horizontal
FEC: 7/8,
Symbol Rate (Ms/s): 27.69000
Virtual Channel: 7, Network ID: 5002
Color: NTSC
Uplink: PAS NAPA +707.253.9466
Playout: Pacific Television 310.287.3800
For more information, please contact:
Black Diamond Media
Tel: +1-310-451-5500
Email: dubs@blackdiamondmedia.com
SOURCE Sony Pictures Entertainment
2007'02.11.Sun
TEDA Introduces New Policy to Support the Development of the Service Outsourcing Industry
January 26, 2007
TIANJIN, China, Jan. 26 /Xinhua-PRNewswire/ -- Tianjin
Economic-Technological Development Area (TEDA), announces
"Interim Provisions of TEDA to Promote the Development
of Service Outsourcing." The policy will provide
various preferential policies covering areas that include
improving infrastructure, encouraging talent imports and
training, as well as offering competitive tax support.
(Logo:
http://www.xprn.com.cn/xprn/sa/20061103123230-28.jpg )
In compliance with the policy, TEDA will set up a
"TEDA Fund for the Development of Service
Outsourcing," with RMB100 million dedicated to
supporting the development of service outsourcing. For
enterprises and institutions meeting the requirements, in
addition to the supporting capital for service outsourcing
from the state and Tianjin municipality, TEDA will also
provide 50% of that supportive fund. Moreover, TEDA also
formulated many supporting policies for service outsourcing
enterprises in terms of software export, talent training,
financial service and IP service etc. TEDA's support will
focus on the service outsourcing of key areas such as
software development, R&D design, financial backstage
services, finance management, administrative management, HR
services and client services, etc.
Recently, three famous domestic software outsourcing
companies, namely, Dalian Huaxin, Beijing Beyondsoft and
Xi'an Yanxing signed investment agreements with TEDA, who
will set up companies in TEDA as significant parts of their
development strategies.
As Tianjin Binhai New Area is incorporated in the
national overall development planning, TEDA will embrace
more opportunities and advantages as a core area. TEDA
will make another industrial realignment to develop the
modern service based on the advanced manufacturing
industry, which is TEDA's strategic choice to optimize the
industrial structure and promote industrial upgrading.
About Tianjin Economic-Technological Development Area
(TEDA)
Tianjin Economic-Technological Development Area (TEDA)
was established in 1984 with the approval of the State
Council of the People's Republic of China. It is one of
the first state-class economic-technological development
areas in the country.
TEDA is located in the center of a larger area
bordering Bohai Sea and the east of the Asia-Europe Land
Bridge, thus serving as the gate to the two super cities of
Beijing and Tianjin, and the throat connecting the northeast
of China. By the end of 2005, 4,067 foreign companies have
landed in TEDA. Of the Fortune 500 companies, 57
multinational companies, from 10 countries and regions,
including such well-established multinational giants as
Motorola, Samsung and Toyota, invested in 123 enterprises
in TEDA. In 2000, "Fortune" listed TEDA as one
of the most highly recommended economic areas in China. In
2002 UNIDO listed TEDA as one of the most dynamic areas of
China together with Shenzhen, Suzhou, Wenzhou, Shanghai
Pudong and Xi'an High-tech Park.
For more information, please visit:
http://www.investteda.org .
For more information, please contact:
Ding Lei of TEDA
Tel: +86-22-2520-1616
SOURCE Tianjin Economic-Technological Development Area
2007'02.11.Sun
Houghton to Step Down as Corning's Chairman of the Board
January 26, 2007
Weeks to be Named New Chairman
CORNING, N.Y., Jan. 26 /Xinhua-PRNewswire/ -- Corning
Incorporated (NYSE: GLW) on January 24, 2007 announced that
James R. Houghton, 71, will step down as non-executive
chairman of the board at the company's annual shareholders
meeting on April 26, 2007. He will continue serving as a
member of the company's board of directors.
(Logo: http://www.xprn.com.cn/xprn/sa/200612081746.jpg
)
Corning's Board of Directors will name Wendell P.
Weeks, 47, as chairman of the board. Weeks will continue
as the company's chief executive officer (CEO). Peter F.
Volanakis, 51, will assume the role of president along with
his responsibilities as chief operating officer. These
actions were approved by the board on January 24, 2007 and
will take effect at the company's annual shareholder
meeting in April.
Houghton has served Corning for more than 38 years,
first retiring from the company in 1996. He returned as
non-executive chairman in June 2001, and he was named
chairman and chief executive officer by the board of
directors in April 2002. He relinquished the CEO role in
April 2005, at which time the board named Weeks president
and CEO, and Volanakis chief operating officer. In May
2006, Houghton retired as an employee of the company for
the second time but retained the role of non-executive
chairman.
"Jamie Houghton has served this company admirably
for more than three decades and all of the employees,
shareholders and directors owe him a great deal of
gratitude. He returned from six years of retirement to
lead Corning out of one of the darkest periods of financial
uncertainty in the company's history," James J.
O'Connor, lead director, said. "As we look forward,
the board is highly confident that Wendell, Peter and the
entire Management Committee have the correct strategy in
place to lead this company forward."
Houghton said, "It has been a distinct pleasure to
work hand-in-hand with such capable leaders as Wendell and
Peter. Wendell Weeks and his management team led the
company's recovery and they have a sound strategy in place
that I believe will benefit our employees and shareholders.
Corning is in very capable hands."
Weeks joined Corning in 1983. He was appointed
division vice president of the Telecommunications Products
Division in July 1994 and deputy general manager in June
1995. He became vice president and general manager of the
Telecommunications Products in 1996; was named senior vice
president, Opto-Electronics in February 1998; and was
appointed executive vice president, Optical Communications
in January 1999. In January 2001, Weeks was named
president of Corning Optical Communications and he was
appointed the company's president and chief operating
officer in April 2002. In April 2005, Weeks became the
company's president and chief executive officer. He was
named to the Corning Board of Directors in December 2000.
He also serves on Merck & Co.'s Board of Directors.
Weeks graduated from Lehigh University with a
bachelor's degree and later attended Harvard Business
School as a Baker Scholar, receiving a master's degree.
Volanakis joined Corning in 1982 as a market
development specialist in the company's Optical Products
Division. In 1991 he was named director of corporate
marketing and was named general manager, Europe for the
Environmental Products Division in 1992. In 1995 he became
executive vice president, Siecor Corporation (a
Siemens-Corning equity venture) and in October 1997 he was
appointed senior vice president, Advanced Display Products.
He was named executive vice president of the Display sector
and Life Sciences division in January 1999. In January
2001, he became president of Corning Technologies and in
April 2005 he was named the company's chief operating
officer. He was named to the Corning Board of Directors in
December 2000. He also serves on the Dow Corning Corporation
Board of Directors.
Volanakis graduated from Dartmouth College with a
bachelor's degree in economics and later received a
master's degree from the Tuck School at Dartmouth College.
About Corning Incorporated
Corning Incorporated ( http://www.corning.com ) is a
diversified technology company that concentrates its
efforts on high-impact growth opportunities. Corning
combines its expertise in specialty glass, ceramic
materials, polymers and the manipulation of the properties
of light, with strong process and manufacturing
capabilities to develop, engineer and commercialize
significant innovative products for the telecommunications,
flat panel display, environmental, semiconductor, and life
sciences industries.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements
that involve a variety of business risks and other
uncertainties that could cause actual results to differ
materially. These risks and uncertainties include the
possibility of changes in global economic and political
conditions; currency fluctuations; product demand and
industry capacity; competition; manufacturing efficiencies;
cost reductions; availability of critical components and
materials; new product commercialization; changes in the
mix of sales between premium and non-premium products; new
plant start-up costs; possible disruption in commercial
activities due to terrorist activity, armed conflict,
political instability or major health concerns; adequacy of
insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete
inventory; the rate of technology change; the ability to
enforce patents; product and components performance issues;
stock price fluctuations; and adverse litigation or
regulatory developments. Additional risk factors are
identified in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only
as of the day that they are made, and Corning undertakes no
obligation to update them in light of new information or
future events.
For more information, please contact:
Media Relations:
Corning China
Lydia Lu
Tel: +86-21-5467-4666-1900
Email: lulr@corning.com
US Corning
Daniel F. Collins
Tel: +1-607-974-4197
Cell: +1-607-368-1012
Email: collinsdf@corning.com
Investor Relations:
Kenneth C. Sofio
Tel: +1-607-974-7705
Email: sofiokc@corning.com
SOURCE Corning Incorporated
2007'02.11.Sun
Xinhua Finance/MNI China Business Survey: Results Climb
January 26, 2007
SHANGHAI, China, Jan. 26 /Xinhua-PRNewswore/ -- Xinhua
Finance (TSE Mothers: 9399) and Market News International
(MNI), a part of the news service line of Xinhua Finance,
today announced the January Xinhua Finance/MNI China
business sentiment survey. The results of the survey
suggest Chinese companies have started the new year in
strong shape financially and see current business
conditions as ripe for further growth.
(Logo: http://www.xprn.com.cn/xprn/sa/200611140926.gif
)
Although production growth slowed in what is
traditionally a slack time of the year for Chinese
companies, survey respondents reported conditions in
January that led to the highest ever results in a number of
indexes of the two-year-old survey.
The survey was conducted January 10-23 with 140 listed
companies responding. A result greater than 50 implies
growth or improving conditions (See accompanying story for
more on the survey methodology). The full survey results
can be found at
http://www.xinhuafinance.com/en/main/chinabizsurvey.html .
The indexes for overall business conditions, financial
conditions and back orders all hit their highest levels
ever, with other key indexes remaining at close to record
levels.
"The surge in corporate confidence is
remarkable," said Logan Wright, Beijing analyst for
Stone and McCarthy Research Associates, a sister company to
Market News. "It appears that companies have shaken
off the effects of last year's macroeconomic controls, as
future expectations of overall conditions and new orders
are even higher than current levels."
The index showing output prices suggested companies are
continuing to raise prices at a relatively fast rate while
the index for input prices, which spiked in December,
declined markedly.
Indexes reflecting expectations for future conditions
suggest companies see the good times continuing for at
least the near future.
The index for overall current business conditions rose
to 80.71 in January from 75.21 in December, topping the 80
mark for the first time. The index for current financial
positions rose to 77.70 in January from 73.31 in December,
which itself had been the highest index result.
The index for order backlogs rose to 57.03 from 56.45
in December, which again had been the highest result up
until that point. The growth of new orders remained high,
with the January index showing the current state of new
orders at 74.62, up from 74.04 in December and the highest
result since the April survey last year.
While the index showing productive capacity grew
slightly, to 70.44 in January from 68.75 in December, the
index showing actual production declined. The index
showing current production fell slightly to 72.46 from
73.85 in December, remaining above the levels experienced
after the government imposed controls to slow down
overheating parts of the economy early last year.
The indexes showing companies' expectations for
conditions in three months time suggest most see growth
remaining high.
The index for future overall conditions hit its second
highest level, rising to 81.43 in January from 78.10 in
December. The only time the index has been higher was in
the first quarter of last year, before the government
measures to slow the economy were introduced.
The index for future new orders was also the highest
since the first quarter last year, at 76.52 from 73.08 in
December while the index for future financial positions,
while still high at 75.90, declined from 78.39 in
December.
Companies expect their backlog of orders to continue
rising, with the index for future expectations on that
question rising to 56.25, up from 54.30 in December and the
highest ever result.
The index showing expectations for production in three
months rose to 75.00 from 71.56 in December, continuing to
show steady gains from the sharp drop in the middle of last
year on the government moves.
"This degree of confidence in a season where
activity is typically slower indicates that companies
retain strong incentives to initiate new investment
projects and expand both production and new capacity,"
said Wright. "While the central government wants to
maintain a stable rate of investment growth, high corporate
confidence and new expansions in production capacity may
create new concerns among regulators about overcapacity.
At present, however, companies see rising orders and
improving financial positions."
Sentiment began to turn around in October, following
six months of government tightening measures aimed at
reining in credit and investment levels.
The credit availability index fell to 60.15 after
hitting a record 64.08 in December. But the index
reflecting interest rates companies are now paying also
fell, to 54.89 in January from 61.32 in December.
The record results of the survey are even more
impressive when seasonality is factored in (the results are
not seasonally adjusted). While the fourth quarter tends to
be the busiest in the calendar year -- particularly for
Chinese exporters working to meet the Christmas rush -- the
Chinese New Year, which comes in January or February,
invariably guarantees that the first three months of the
year are the slowest.
"The industry doesn't perform so well at this time
of year," noted one respondent manufacturer. Other
companies that use basic materials such as coal and steel
reported that government efforts to control price rises in
those sectors was having a result. "Thanks to the
government regulating and controlling the small- and
medium-sized coal mine, demand and supply tend to be
balanced in the coal market," said one respondent.
A few companies reported increasing production to
offset falling prices, a comment seen often in past
surveys. But for the first time, a number of respondents
also pointed to consolidation in their industries as having
had a positive effect. "After a series of mergers and
acquisitions, the group structure is optimized and it is
more competitive," said one manufacturer.
And for the first time, a respondent attributed higher
demand for his company's retail products to the runup to
the 2008 Olympic Games to be held in Beijing.
Xinhua Finance/MNI China Business Survey Methodology
The Xinhua Finance/MNI China Business Sentiment Survey
was conducted Janaury 10-23 with 140 listed companies
taking part.
Survey questions were modeled on Japan's Tankan survey
and the U.S. Institute for Supply Management's Report on
Business.
Results were compiled for both current conditions
compared with a month ago and for expectations of
conditions one month ahead.
Indexes were compiled using the Institute for Supply
Management's example: adding half of the percentage saying
conditions were unchanged to the percentage of those saying
conditions had improved generated the index. Therefore, a
result higher than 50 indicates a net positive response.
Companies agreed to participate in the survey, and to
provide comments about business conditions, under the
assurance that individual survey responses would not be
divulged except as part of the overall results.
Companies surveyed were all listed on domestic stock
markets or in Hong Kong, although some also have foreign
listings. The companies chosen were a mix of manufacturers
and non-manufacturers with about 75% of the companies
responding to the survey in manufacturing.
Notes to Editors:
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 20 news bureaus
and offices in 19 locations across Asia, Australia, North
America and Europe.
For more information, please visit
http://www.xinhuafinance.com .
About Market News International
Market News International (MNI), a Xinhua Finance
company ( http://www.xinhuafinance.com ), is a financial
news and information company dedicated to the global fixed
income and foreign exchange markets. MNI joined the Xinhua
Finance family in March 2004, bringing its niche expertise
and extensive distribution network. Headquartered in New
York, MNI has news bureaus and offices throughout the US,
Europe and Asia.
With more than twenty years of history, MNI is a fully
accredited news agency providing focused, timely, relevant
and critical intelligence for market professionals. Its
press credentials are accepted by all operations of the
U.S. Government, including the White House, the Federal
Reserve, both houses of Congress, all major agencies and
cabinet departments, all similar government operations in
the G-7 countries, as well as by supranational
organizations such as the World Bank and the International
Monetary Fund.
For more information, please contact:
Xinhua Finance
Hong Kong/Shanghai
Ms. Joy Tsang
Tel: +852-3196-3983, +852-9486-4364,
+86-21-6113-5999
Email: joy.tsang@xinhuafinance.com
Japan
Mr. Sun Jiong
Tel: +81-3-3221-9500
Email: jsun@xinhuafinance.com
Taylor Rafferty (Media/IR Contact)
Japan
Mr. James Hawrylak
Tel: +81-3-5733-2621
Email: James.hawrylak@taylor-rafferty.com
United States
Ms. Ishviene Arora
Tel: +1-212-889-4350
Email: ishviene.arora@taylor-rafferty.com
Europe
Mr. John Dudzinsky
Tel: +44-20-7614-2900
Email: John.Dudzinsky@taylor-rafferty.co.uk
SOURCE Xinhua Finance; Market News International
2007'02.11.Sun
FDA Advisory Committee Recommends Licensure of New Pediatric Combination Vaccine
January 26, 2007
- If Approved, Pentacel Vaccine Would be the First
Pediatric Combination Vaccine in the U.S. to Immunize
Against Diphtheria, Tetanus, Pertussis, Polio, and
Haemophilus Influenzae Type b (Hib) -
BETHESDA, Md., Jan. 26 /Xinhua-PRNewswire/ -- Sanofi
pasteur, the vaccines business of the sanofi-aventis Group
(NYSE: SNY; EURONEXT: SAN), is pleased that the members of
an advisory committee to the U.S. Food and Drug
Administration (FDA) voted nearly unanimously today that
the company's pentavalent combination vaccine for use in
pediatric patients is both safe and efficacious.
Pentacel(R) (DTaP-IPV-Hib) vaccine(1) protects against
diphtheria, tetanus, pertussis, polio, and Haemophilus
influenzae type b (Hib).
According to the current Recommended Childhood and
Adolescent Immunization Schedule from the Advisory
Committee on Immunization Practices (ACIP) of the U.S.
Centers for Disease Control and Prevention (CDC), up to 23
injections are needed through 18 months of age. The use of
Pentacel vaccine could reduce that number of shots by
seven.
The regulatory submission of Pentacel vaccine is based
on results of clinical studies involving more than 5,000
children in multi-center trials(2) conducted in the U.S.
and Canada. Pentacel vaccine is licensed for pediatric use
in nine countries, including Canada, where it has been used
universally in infants and young children since 1998 for the
prevention of diphtheria, tetanus, pertussis, polio and Hib.
Over 12.5 million doses of Pentacel vaccine have been
distributed in Canada.
Pentacel vaccine is the first DTaP-based combination
vaccine candidate for use in infants in the U.S. that
includes both polio and Hib vaccine components. The
diphtheria, tetanus, and pertussis components in Pentacel
vaccine are based on the formulation in DAPTACEL(R) --
Diphtheria and Tetanus Toxoids and Acellular Pertussis
Vaccine Adsorbed (DTaP vaccine) -- which was introduced by
sanofi pasteur in the U.S. in 2002. In clinical trials,
Pentacel vaccine was administered as a four-dose series --
at 2, 4, 6, and 15-18 months of age -- concomitantly with
other recommended childhood vaccines.
Sanofi pasteur's U.S. operations in Swiftwater, PA has
long been committed to providing vaccines to prevent
childhood diseases. In 1987, it licensed the first
Haemophilus influenzae type b (Hib) conjugate vaccine. And
in 1996, it was the first company to license a diphtheria,
tetanus, and acellular pertussis vaccine for use in infants
-- Tripedia(R), Diphtheria and Tetanus Toxoids and Acellular
Pertussis Vaccine Adsorbed. In 2005, sanofi pasteur
continued its tradition of innovation by introducing
Menactra(R), Meningococcal (Groups A, C, Y and W-135)
Polysaccharide Diphtheria Toxoid Conjugate Vaccine to
protect against meningococcal disease in adolescents and
adults, 11-55 years of age, and ADACEL(R), Tetanus Toxoid,
Reduced Diphtheria Toxoid and Acellular Pertussis Vaccine
Adsorbed as a booster dose for protection against tetanus,
diphtheria and pertussis in both adolescents and adults
11-64 years of age.
About Diphtheria
Diphtheria is a disease caused by a bacterium,
Corynebacterium diphtheriae, that usually affects the
tonsils, throat, nose and/or skin. It is passed from person
to person by droplet transmission, usually by breathing in
diphtheria bacteria after an infected person has coughed or
sneezed. Although diphtheria disease is rare in the U.S., it
appears that C diphtheriae continues to circulate in areas
of the country with previously endemic diphtheria.
Diphtheria also occurs in many other parts of the world.
About Tetanus
Tetanus is a severe, frequently fatal disease caused by
an exotoxin produced by Clostridium tetani, a bacterium that
is found in the environment. Tetanus is not transmitted from
person to person. Rather, Clostridium tetani enters the body
through an open wound, including lacerations, abrasions and
puncture wounds. The toxin causes neuromuscular
dysfunction, with rigidity and spasms of skeletal muscles.
The muscle spasms usually start in the jaw (which is why
the disease is sometimes called "lockjaw") and
neck and may spread to many other muscles, leading to
generalized paralysis.
About Pertussis
Pertussis, a highly contagious disease of the
respiratory tract, is caused by exposure to bacteria
(Bordetella pertussis) found in the mouth, nose and throat
of an infected person. Pertussis is primarily spread by
direct contact with discharge from the nose or throat of
infected individuals. Classic -- or severe pertussis -- as
defined by the World Health Organization, consists of at
least 21 days of cough illness (with the cough coming in
spasms or paroxysms), associated whoops or post-cough
vomiting, and laboratory confirmation. Despite widespread
vaccination, reports of pertussis outbreaks continue to in
the U.S. At particular risk are newborns and babies who
have not yet been fully vaccinated against pertussis, iii
who are more likely to have severe pertussis, and who face
the possibility of serious complications and death. Over
the last decade, 80% of pertussis deaths have occurred in
infants under 6 months of age.(3)
About Polio
Poliomyelitis (polio) is a highly infectious disease
caused by a virus that invades the nervous system and can
cause severe paralysis. The virus enters the body through
the mouth and multiplies in the intestine. Initial symptoms
are fever, fatigue, headache, vomiting, stiffness in the
neck, and pain in the limbs. One in 200 infections leads to
irreversible paralysis (usually in the legs). Among those
paralyzed, 5-10% dies when their breathing muscles become
immobilized. Polio mainly affects children under five years
of age. Naturally occurring polio was eliminated in the U.S.
in 1979 and in the Western Hemisphere by 1991; however,
worldwide efforts are continuing towards eradication of
this contagious and devastating disease.
About Hib
Haemophilus influenzae type b (Hib) disease is caused
by a bacterium that enters the body through the nose or
throat and then can spread to cause meningitis (an
infection of the coverings of the brain and spinal cord),
blood stream infection, pneumonia, infection of the
epiglottis, and other serious infections. Hib disease can
cause mental retardation in young children and be a
life-threatening infection. The Hib bacterium is still
circulating in the U.S. today.(4) Ongoing vaccination is
critical in preventing a resurgence of Hib, which was the
leading cause of bacterial meningitis in children under
five years of age before vaccines were introduced.
About sanofi-aventis
Sanofi-aventis is one of the world's leading
pharmaceutical companies. Backed by a world-class R&D
organization, sanofi-aventis is developing leading
positions in seven major therapeutic areas: cardiovascular,
thrombosis, oncology, metabolic diseases, central nervous
system, internal medicine and vaccines. Sanofi-aventis is
listed in Paris (EURONEXT: SAN) and in New York (NYSE:
SNY).
Sanofi pasteur, the vaccines business of the
sanofi-aventis Group, sold more than a billion doses of
vaccine in 2005, making it possible to protect more than
500 million people across the globe. The company offers the
broadest range of vaccines, providing protection against 20
bacterial and viral diseases. For more information, please
visit: http://www.sanofipasteur.com
Forward Looking Statements
This press release contains forward-looking statements
as defined in the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are statements that are
not historical facts. These statements include financial
projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with
respect to future events, operations, products and services,
and statements regarding future performance. Forward-looking
statements are generally identified by the words
"expect," "anticipates,"
"believes," "intends,"
"estimates," "plans" and similar
expressions. Although sanofi-aventis' management believes
that the expectations reflected in such forward-looking
statements are reasonable, investors are cautioned that
forward-looking information and statements are subject to
various risks and uncertainties, many of which are
difficult to predict and generally beyond the control of
sanofi-aventis, that could cause actual results and
developments to differ materially from those expressed in,
or implied or projected by, the forward-looking information
and statements. These risks and uncertainties include those
discussed or identified in the public filings with the SEC
and the AMF made by sanofi-aventis, including those listed
under "Risk Factors" and "Cautionary
Statement Regarding Forward-Looking Statements" in
sanofi-aventis' annual report on Form 20-F for the year
ended December 31, 2005. Other than as required by
applicable law, sanofi-aventis does not undertake any
obligation to update or revise any forward-looking
information or statements.
(1) The true name for Pentacel(R) vaccine is:
Diphtheria and Tetanus
Toxoids and Acellular Pertussis Adsorbed,
Inactivated Poliovirus and
Haemophilus b Conjugate (Tetanus Toxoid Conjugate)
Vaccine Combined
(2) Herz A, Black S, Shinefield H, Noriega F,
Greenberg, D. Safety of
DTaP-IPV//PRP-T (PENTACEL) administered at 2, 4, 6,
and 15 to 18
months of age. Annual meeting of the Pediatric
Academic Societies
2005
(3) Vitek CR, Pascual FR, Baugham, AL, Murphy TV.
Increase in deaths from
pertussis from young infants in the United States
in the 1990s.
Pediar
Infect Dis J. 2003:22:628:634.6
(4) Donnelly, M.J, Herold, B.C., Jenkins, S.G., Daum,
R.S. Obstacles to
the elimination of Haemophilus influenzae type b
disease: Three
illustrative cases. Pediatrics. Vol. 112, No. 6,
December 2003, pp.
1465-1466
For more information, please contact:
Pascal Barollier
International Media Relations
Tel: +33-4-37-37-51-41
Email: pascal.barollier@sanofipasteur.com
Len Lavenda
U.S. Media Relations
Tel: +1-570-839-4446
Email: len.lavenda@sanofipasteur.com
SOURCE sanofi pasteur
2007'02.11.Sun
South Korea's Port of Busan to Use Savi Networks SaviTrak(TM) Real-Time Information Service for Cargo Security and Management
January 26, 2007
MOUNTAIN VIEW, Calif., Jan. 26 /Xinhua-PRNewswire/ --
Savi Networks today announced that it has extended the
SaviTrak(TM) real-time information service to key terminal
locations at the Port of Busan, South Korea. As one of the
highest-volume shipping hubs for the Asia Pacific region,
the Port of Busan is the fourth largest trading partner
with the United States by container volume.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20060109/NYM086LOGO )
"We see the business and security value of having
more visibility to the flow of containerized cargo through
our facilities with the SaviTrak information service,"
said W.J. Choi, chief executive officer of Hutchison Korea
Terminals, a member of the Hutchison Port Holdings Group.
"With this RFID-based service, we can offer our
customers qualified service and value in managing their
shipments."
Choi also mentioned that the Savi's standards-based
RFID products (ISO-18000-7) facilitate more flexible
end-to-end visibility, value and security of RFID-tagged
shipments transported throughout the global supply chain.
"The Port of Busan is an important link in our
growing network throughout Asia, the Americas and
Europe," said Lani Fritts, chief operating officer of
Savi Networks. "Our SaviTrak network installations
enable shippers and government authorities to improve the
security, reliability, and efficiency of containerized
cargo moving worldwide."
The SaviTrak information service is built on an
open-technology network that captures data from all types
of standards-based Automatic Identification and Data
Collection (AIDC) devices, including bar codes, sensors,
passive and active RFID and Global Positioning Satellite
location systems. The information service generates
real-time reports and exception-based alerts to each
customer, including routes, missed shipments, or
environmental conditions, and includes planning and
analytics functions.
Savi Networks LLC provides shippers and their logistics
providers with greater management control, efficiency and
security in their global supply chains through
SaviTrak(TM), a real-time information service that monitors
the location and status of cargo container shipments and
their contents. The company, which is a joint venture
between Savi Technology, Inc., a Lockheed Martin company
(NYSE: LMT), and Hutchison Port Holdings, the world's
leading port operator, partners with ports and terminal
operators to extend its global network, which leverages
standards-based Automatic Identification and Data
Collection technologies. To learn more about Savi
Networks, visit http://www.savinetworks.com .
For more information, please contact:
Mark Nelson, Savi
Tel: +1-650-316-4872
Email: mnelson@savi.com
SOURCE Savi-Lockheed
2007'02.11.Sun
TD-SCDMA Project Undertaken by Spreadtrum and Amoi Officially Approved
January 26, 2007
SHANGHAI, China, Jan. 26 /Xinhua-PRNewswire/ -- The
"3G System and Terminal (TD-SCDMA) Development and
Industrialization" Project undertaken by Amoi
Electronics Co., Ltd. and Spreadtrum Communications
(Shanghai) Co., Ltd., has been certified by the Product
Administration Division of MII (Ministry of Information
Industry) on "National Electronics Information
Industry Fund Test" in Xiamen.
In this project, Amoi has designed the circuit PCB, RF
software, structure, and developed the handsets based on
Spreadtrum's TD-SCDMA terminal chips and total solution.
During the process, Amoi has fulfilled the handset
development and conducted mass pilot runs. The single mode
TD3000 and dual mode T300, two types of 3G handsets, have
passed MII tests, and currently the handsets are under
trials from test users. Both have been proved to have the
ability to develop and manufacture TD-SCDMA handsets.
Zhang Senwang, Executive Vice General Manager of
Communication System Division of Amoi Electronics Co., Ltd.
indicates, "Spreadtrum provides valid and stable chips
and total solutions. We have a great partnership and have
had overcome many technical difficulties. The cooperation
between the two parties is pleasant and successful. More
importantly, we believe that with Spreadtrum's
highly-integrated and high performance chips, we can
shorten the product development circle and time to market.
It helps us grab the market opportunity and increase our
market share."
Amoi and Spreadtrum have long-term business
cooperation. Besides the cooperation on this project, Amoi
has successfully launched varieties of handsets with
Spreadtrum's GSM/GPRS handset chips and total solutions.
Amoi's M300 handset with Spreadtrum's chips has had an
excellent market performance-in the first week of 2007:
M300 market share has ranked the first among domestic
manufacturers, and also it is the largest sales in Amoi's
history. Amoi's another M3 handset has ranked third.
About Spreadtrum
Spreadtrum Communications Inc. is a leading fabless
semiconductor company that develops and markets innovative
wireless communications products. Spreadtrum provides
high-performance, cost-effective products including 2.5G/3G
baseband IC, protocol stack software, application software,
wireless communication module and total solutions for
worldwide wireless terminal manufactures, independence
design houses, and semiconductor companies.
More Information: http://www.spreadtrum.com
About Amoi
Amoi Electronics Company Limited by Shares originated
from Xiamen Solid Electronic Limited in 1981 and has been
listed on the Shanghai Stock Exchange since June 1997. It
is headquartered in Xiamen, China. Aiming at becoming an
innovator from China, Amoi has expanded its business
towards 3C (Communication, Computer and Consumer
electronics) diversification and internationalization.
Currently, Amoi's product range covers 2.5G/3G mobile
phones, PHS handsets, LCD TV and Notebook PCs. Amoi
Electronics Co., Ltd. is one of the leading domestic
manufacturers of mobile phones in China, having a strong
engineering team, and it has established R&D institutes
in Xiamen, Shanghai and Nanjing respectively. By responding
to market trend in swiftest manner and concentrating on
practical application, the company is aiming at bringing
unique experiences to customers in each individual market
segment.
More Information: http://www.amoi.com.cn
SOURCE Spreadtrum Communications Inc.
2007'02.11.Sun
The9 Limited Announces Executive Appointment
January 26, 2007
SHANGHAI, China, Jan. 26 /Xinhua-PRNewswire/ -- The9
Limited (Nasdaq: NCTY) ("The9"), a leading online
game operator in China, today announced that it has
appointed Swun Woo (Tony) Park as Vice President, effective
January 31, 2007. Mr. Park will be in charge of The9's
international business development and will also
participate in our online game operations.
Prior to joining The9, Mr. Park served as the President
of International Business at Hanbitsoft Inc.
("Hanbitsoft"), a leading game developer and
publisher in Korea. Since April 2002, he has served
various management functions at Hanbitsoft, including
business development, strategic planning, marketing and
brand management, game studio management, localization
& technical operations, joint venture management, as
well as investor relations. Prior to joining Hanbitsoft,
Tony worked as a venture capitalist at ADL Partners from
April 2000 to April 2002, and as a management consultant at
Arthur D. Little from December 1998 to April 2000. Mr. Park
received his Bachelor's degree in Business Administration
from the Korea University.
Jun Zhu, The9's Chairman and CEO, commented: "We
are delighted to have Tony join our management team. With
his valuable experience at one of Korea's leading game
companies and his unique background, we believe Tony will
not only further strengthen our team's game operation
expertise, but will also bring new business development
ideas to The9. Moreover, Tony's strong ties with
Hanbitsoft will no doubt enhance the partnership between
the two companies and ensure seamless communication and
cooperation going forward."
About The9 Limited
The9 Limited is a leading online game operator in
China. The9's business is primarily focused on operating
and developing MMORPGs for the Chinese online game players
market. The9 directly or through affiliates operates
licensed MMORPGs, consisting of Blizzard Entertainment(R)'s
World of Warcraft(R), MU(R) and Mystina Online(R) and its
first proprietary MMORPG, Joyful Journey West(TM), in
China. It has also obtained exclusive licenses to operate
additional MMORPGs in China, including Granado Espada(R),
Soul of The Ultimate Nation(R), Guild Wars(R), Hellgate:
London(R), Ragnarok Online 2(R) and Emil Chronicle
Online(R). In addition, The9 is also working on the
development of a 3D fantasy MMORPG game, Fantasy Melody
Online(TM).
Safe Harbor Statement
This announcement contains forward-looking statements.
These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be
identified by terminology such as "will,"
"expects," "anticipates,"
"future," "intends," "plans,"
"believes," "estimates" and similar
statements. Among other things, the business outlook and
quotations from management in this press release contain
forward-looking statements. The9 may also make written or
oral forward-looking statements in its periodic reports to
the U.S. Securities and Exchange Commission on Forms 20-F
and 6-K, etc., in its annual report to shareholders, in
press releases and other written materials and in oral
statements made by its officers, directors or employees to
third parties. Statements that are not historical facts,
including statements about The9's beliefs and expectations,
are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ
materially from those contained in any forward-looking
statement. Potential risks and uncertainties include, but
are not limited to, The9's limited operating history as an
online game operator, political and economic policies of
the Chinese government, the laws and regulations governing
the online game industry, information disseminated over the
Internet and Internet content providers in China,
intensified government regulation of Internet cafes, The9's
ability to retain existing players and attract new players,
license, develop or acquire additional online games that
are appealing to users, anticipate and adapt to changing
consumer preferences and respond to competitive market
conditions, and other risks and uncertainties outlined in
The9's filings with the U.S. Securities and Exchange
Commission, including its annual reports on Form 20-F.
The9 does not undertake any obligation to update any
forward-looking statement, except as required under
applicable law.
For further information, please contact:
Ms. Dahlia Wei
Senior Manager, Investor Relations
The9 Limited
Tel: +86-21-5172-9990
Email: IR@corp.the9.com
Web: http://www.corp.the9.com
SOURCE The9 Limited
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