SIM Technology Group Limited (“SIM Technology” or the “Company”; SEHK stock code: 2000), a technology company specializing in wireless communications products, officially listed its shares today on the Main Board of the Stock Exchange of Hong Kong (“SEHK”).
SIM Technology Group’s shares closed on the first day at HK$1.43 per share, a slight decrease of HK$0.27 compared with the listed price of HK$1.70 per share.The highest quote of the day was HK$1.65; with total transactions amounting HK$128.68 million and 86.975 million shares hands.
Mr. C.T. Wong, President and Chief Executive Officer of SIM Technology, said, “We are very pleased with today’s successful listing on the Main Board of the Hong Kong Stock Exchange. This listing takes the company into a new era, solidifying its market position as a leading, regional player in the wireless communications industry.We are grateful to obtain a vote of confidence and support from investors and shareholders.”
SIM Technology is a mobile handset and wireless communications solution provider in China. The Company’s main business is the design, development, production, marketing and sale of turnkey solutions for mobile handset, LCD modules for mobile handsets and other portable electronic devices and GSM/GPRS/EDGE modules for wireless applications, providing its clients with highly efficient, one-stop services.
SIM Technology Group has three main subsidiaries in Shanghai: Shanghai Sunrise manufactures LCD modules for mobile handsets and public payphones, Shanghai Simcom designs and develops Turnkey Solutions for mobile handsets and GSM/GPRS/EDGE modules; Suncom Logistics is responsible for procurement logistics, manufacture outsourcing, sales and marketing of the Group’s products.In 2004, the Group developed and launched over 50 mobile handsets.
Mr. C.T. Wong concluded, “We shall continue to adopt an aggressive, yet prudent business strategy, dedicating ourselves to strengthening the Group’s research and development capabilities; and actively on the look out for additional business development opportunities.We are confident that the Group’s business will continue to grow offering our shareholders good returns on their investment.”
