Qiao Xing Announces $32 Million Contract for CDMA Phones From China Unicom.

Publication: Business Wire

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COPYRIGHT 2002 Business Wire

Business Editors

GUANGDONG, China--(BUSINESS WIRE)--Jan. 31, 2002

Represents Single Largest Order in Qiao Xing's History

Company Expects Significant Revenue and Earnings Growth in 2002

Qiao Xing Universal Telephone, Inc. (Nasdaq:XING), the second largest and one of the fastest growing telephone manufacturers in China, today announced that it has received an order for 200,000 CDMA phones, valued at approximately $32 million, from the Sichuan branch of Guangdong Jin Zhong Hua Telecom Service Inc., the sales agent for China Unicom (NYSE:CHU).

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