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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 February 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: February 29, 2000 By: /s/ Rui Lin Wu
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Rui Lin Wu, Chairman
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Mr. Jeff J.F. Feng Dan Matsui/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 90024-3503
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.
ANNOUNCES JOINT VENTURE with UNICO, Malaysia
HUIZHOU, CHINA (February 29, 2000) -- Qiao Xing Universal Telephone, Inc.
(NASDAQ NMS: XING) today announced an agreement in principle with UNICO Holding
Berhad ("UNICO") to form a joint venture company to manufacture and sell
digitally enhanced cordless telephones (DECT), 8-channel cordless telephones
(model CT0), and other telecommunications products. UNICO is one of the largest
electronic component manufacturers in Malaysia.
The proposed joint venture company, CHOSEN UNICO Technology Ltd., would be
located in Qiao Xing Industrial Zone of Huizhou, property built and managed by
Qiao Xing Universal Telephone, Inc. ("the Company"). Total production is yet to
be determined, but initial production would be for 150,000 DECTs and 800,000
model CT0 telephones. Production would begin in April, with sales beginning in
May. The Company expects to reach final agreement with UNICO by March 31, 2000.
Mr. Riu Lin Wu, Chairman of the Board of Qiao Xing, said: "The agreement with
UNICO begins our technological and marketing expansion through cooperative R&D
and sales agreements worldwide. We also feel this agreement recognizes our
current capabilities as an international provider of R&D and engineering
technology."
In August 1995, Qiao Xing Universal Telephone, Inc. became the first telephone
manufacturer in China to receive the ISO 9001 Quality System Accreditation
award. The Company currently produces 165 models of corded telephones and 25
cordless models. Its sales network is extensive with 1,350 retail store
locations throughout China. In 1997 and 1998, the Company was ranked #2 in
telephone sales in China.
This press release contains "forward-looking statements" regarding future
business opportunities and activities. Such forward-looking information involves
important risks and uncertainties that could significantly affect future
results. 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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