<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of August , 1999
----------
Qiao Xing Universal Telephone, Inc.
--------------------------------------
(Translation of registrant's name into English)
Qiao Xing Building, Wu Shi Industrial Zone
Huizhou City, Guangdong, People's Republic of China
---------------------------------------------------
(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
----- -----
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
----- -----
[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- .
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Qiao Xing Universal Telephone, Inc.
-----------------------------------
(Registrant)
Date: August 23, 1999 By: /s/ Rui Lin Wu
--------------- -------------------------------
Rui Lin Wu, Chairman
<PAGE>
Qiao Xing Universal Telephone, Inc.
For Immediate Release
For further information
Ms. Amanda J.H. Ma Tel: 86-752-280-8188
Qiao Xing Universal Telephone, Inc. Fax: 86-752-280-3101
http:\\www.qiaoxing.com
E-mail: [email protected]
Qiao Xing Universal Telephone, Inc.
Announces the Signing of Agreement with Philips
CHINA, August 23, 1999 -- Qiao Xing Universal Telephone, Inc. ("Qiao Xing" or
the "Company", NASDAQ/NMS: XING) announces today the signing of agreement with
China Philips Semiconductors Limited ("Philips") to have Philips and the Company
entering into a long-term business partnership.
Qiao Xing is one of the biggest ordinary corded and cordless telephone
manufacturers in China. The Company currently produces 165 corded models and 25
cordless models, and the Company has an extensive nationwide sales network that
comprises over 1,000 retail outlets in China. Qiao Xing is also the first
telephone manufacturer in China to receive the ISO 9001 Accreditation.
Philips is currently taking the leading position in technical solution of
digital communication and cordless communication industry in the world.
According to the signed agreement, Philips will provide full support on the
technology, application and price of semiconductor chips for the Company's
corded telephone, cordless telephone and digital telephone, and enable Qiao Xing
brand to be printed on the chips that are designed on the base of Philips's
technical solutions. Mr. Wu, Chairman of the Qiao Xing Board, said: "the
signing of agreement with Philips represents a promising beginning of the
company's evolution from ordinary telephone manufacturer to digital
telecommunications terminals and equipment provider."
An important aspect of the Company's long-term strategy is to continue to seek
new growth opportunities through product innovation. After getting success in
development and introduction of special function corded telephones, the Company
launched to enter into the market of Digital Cordless Telephone ("DCT").
Comparing with the traditional analog cordless telephone ("ACT"), DCT owns
transcendent advantages of low noises, high security, excellent anti-jamming
capability, strong receiving capacity, supporting multi-handset communications,
supporting digital and image transmission, and being able to be used as the
interface of other electronic equipment such as personal computer and home
facilities. DCT are gradually replacing the ACT, and becoming the protagonist
in the cordless telephone market. According to the Company's research, the
market demand of DCT in Europe and America is approximately 11 million and 16
million sets per annual respectively, and the demand is continuously growing and
expanding. Qiao Xing appreciates the opportunity to work with Philips and
management believes that Philips's prominent capabilities in digital
communication field shall be able to assist Qiao Xing to provide extremely
quality competitive and cost effective products. Management expected that Qiao
Xing's DCT prototype of which the core technology was based on Philips's
solution can be completed by the end of 1999.
- 1 -
<PAGE>
This Press Release contains "forward-looking statements" regarding to future
revenues and operating information and their impact on future results. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and, accordingly,
actual results may differ materially from those expressed in any forward-looking
statements made by or on behalf of the Group. These risks and uncertainties
include, but and not limited to, those relating to economic, political, legal
and social conditions in the People's Republic of China, dependence upon key
management personnel, competition, material factors relating to the operations
of the business, and domestic and global general economic conditions.
- 2 -
