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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 January 2000
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: January 31, 2000 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, INC. NAMED
"HIGH- AND NEW-TECH ENTERPRISE" RESULTING IN
MULTI-YEAR TAX-EXEMPT STATUS
HUIZHOU, CHINA (January 31, 2000) -- Qiao Xing Universal Telephone Inc. (NASDAQ
NMS: XING) today announced that it has obtained the authorized title of "High-
and New-Tech Enterprise" from Guangdong Province government. This new category
entitles the Company to up to 100% exemption from People's Republic of China
enterprise income taxes for the next three years, and up to 50% exemption in the
fourth to the sixth years as well as up to 25% exemption from value added tax
(VAT).
Commented Mr. Riu Lin Wu, chairman of Qiao Xing Universal Telephone, Inc.:
"Naturally, we are very pleased to have received this title and its inherent
tax-exempt status. The actual ratio of tax exemptions will need to be approved
by the Tax Bureau and we hope to know Qiao Xing's ratio for the first three
years by April, 2000. We are pleased to be one of a small number of
manufacturers in China to be named a 'High- and New-Tech Enterprise, which we
hope will give us the edge on the competition with regard to obtaining CDMA
approval. Clearly the Guangdong Province government is extremely supportive of
Qiao Xing, which is very gratifying to our hardworking and talented team."
In 1997 and 1998, Qiao Xing Universal Telephone, Inc. ranked #2 in telephone
sales in China. The Company currently produces 165 corded models and 25 cordless
models, and has an extensive nationwide sales network that comprises 1,350
retail outlets in China. In 1995, Qiao Xing became the first telephone
manufacturer in China to receive the ISO 9001 Quality System Accreditation
award.
This news 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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