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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 November, 1999
Qiao Xing Universal Telephone, Inc.
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(Translation of registrant's name into English)
Qiao Xing Building, Wu Shi Industrial Zone
Huizhou City, Guangdong, People's Republic of China
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(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
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[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
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[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.
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(Registrant)
Date: November 29, 1999 By: /s/ Rui Lin Wu
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Rui Lin Wu, Chairman
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Mr. Jeff J.F. Feng Ruth Shaer/Eugene Heller
Assistant to Chairman Silverman Heller Associates
Qiao Xing Universal Telephone, Inc. 1100 Glendon Avenue, PH-1
Huizhou, Guangdong, P.R.C. Los Angeles, CA 90024-5305
http:\\www.qiaoxing.com Tel: (310) 208-2550
E-mail: [email protected] Fax: (310) 208-0931
Tel: (011) 86-752-2808-188 E-mail: [email protected]
Fax: (011) 86-752-2803-101
QIAO XING UNIVERSAL TELEPHONE ANNOUNCES
ADDITION OF MORE THAN 30% NEW RETAIL OUTLETS
GUANGDONG, CHINA (November 29, 1999) -- Qiao Xing Universal Telephone, Inc.
(NASDAQ NMS: XING) today announced that it has expanded its distribution from
1,000 to 1,350 retailers since the beginning of the year. The Company now has
the largest telephone sales distribution network in mainland China.
On November 18, 1999, Qiao Xing held a convention in China to honor over 500 of
the Company's key wholesalers and retailers. During the convention, Mr. Rui
Lin Wu, chairman of Qiao Xing Universal Telephone, Inc., informed the audience
that the Company was very pleased with their results over the previous nine
months and thanked the audience for contributing to the Company's success. He
also pointed out that the 2.95 million units sold during the period was
primarily due to the Company's aggressive sales and marketing campaign.
Commented Mr. Wu: "As well as increasing sales, these new retail outlets will
extend our market penetration, providing us with an increased communications
network that should prove helpful in identifying market needs and strengthening
our presence in the burgeoning Chinese marketplace."
Among the new retailers, 146 are located in South and East China, the most
prosperous regions of the Chinese mainland, while 43 of the new retailers are
based in North China, which includes Beijing and Tianjin.
According to the U.S. Postal service, China has approximately 1.3 billion
residents and 95 cities, each with more than one million residents. By 2003,
China is expected to have 16.1 million Internet users, up sevenfold from 1998.
This press release contains "forward-looking statements" regarding 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 Company. These risks and uncertainties
include, but are 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.
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