Cirmaker Technology (PK) (USOTC:CRKT)
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Cirmaker Technology Lands Contract for Two-Hundred and Forty
Thousand Set Top Boxes for Mainland China Worth Approximately $6.6 Million
(USD)
Production Has Begun From Newly Aquired Mainland China Facility and is Expected
to Be Complete By Year End 2004
NEW YORK, Sept. 22 /PRNewswire-FirstCall/ -- Cirmaker Technology Corp.
(OTC:CRKT.OB) (BULLETIN BOARD: CRKT.OB) , which manufactures set top boxes for
digital TV signal reception, CPU coolers for computers and electronic
components, today announced that it has received an order for two-hundred and
forty thousand digital set top boxes worth $6,669,600 million. These set top
boxes also known as digital receivers, receive TV signals directly from
satellites and do not require a cable connection. The units will be produced
by the Company's [66%] owned subsidiary, Shaanxi New Century Electronic Co.,
Ltd, in the Company's newly acquired mainland facility.
CEO and President Bill Liao of Cirmaker Technology said, "We have begun
producing set-top boxes with satellite functionality for the mainland China
market and the reception has been impressive. With Ruyi's wide acceptance and
Cirmaker Technology's world-class manufacturing capability, Shaanxi New Century
is delivering a line of highly reliable, technologically advanced satellite set
top boxes to wholesalers. We expect to sell a minimum of 200,000 set top
boxes, produced from this facility, by year-end."
The Company's newly acquired subsidiary, Shaanxi New Century Electronic Co.,
produces a new generation satellite set top box that converts digital
television broadcast signals into analog formats so that analog TV sets can
receive digital programming. This device meets all the required standards of
Chinese broadcasting authorities. Because the Chinese government plans to
change all TV broadcast signals from analog to digital, there is a significant
demand in mainland China for this product.
About Cirmaker Technology Corp.
Headquartered in Taiwan with offices in New York City, Beijing, and Guangdong
province, Cirmaker Technology manufactures cooling systems for laptop and
personal computers, electrical and electronic components and 3G MHP (3rd
generation multimedia home platform) digital set top boxes for television sets.
Cirmaker has developed set top boxes that convert digital television broadcast
signals into analog formats so that analog TV sets can receive digital
programming. The system also receives, processes, stores and broadcasts analog,
digital and streaming media signals, and supports pay-per- view and
video-on-demand functions. Cirmaker believes it is the only 3G MHP STB
manufacturer operating in China able to produce in volume a device that meets
all the required standards of Chinese broadcasting authorities. It also
complies with all international HDTV standards for high definition television.
means "wishes come true."
Forward Looking Statements
The matters discussed in this news release contain forward-looking statements,
including statements regarding the demand for set top box satellite receivers
in China, future sales made by Cirmaker in China, and the potential success of
the strategic alliance between Shaanxi Ruyi Electric Co. and Cirmaker. These
statements are subject to various risks, uncertainties and other factors that
could cause actual results to vary materially from the results anticipated in
such forward-looking statements. Such risks, uncertainties and other factors
include Cirmaker's potential inability to raise additional capital, the
potential breach by the counterparty to the sales agreement of its obligations
to buy satellite receivers thereunder, Cirmaker's potential inability to
compete with other companies that may be more experienced and better
capitalized than Cirmaker, changes in domestic and foreign laws, regulations
and taxes, changes in economic conditions, uncertainties related to the legal
systems in Cirmaker's target markets, including, China's legal system and
economic, political and social events in China and other target markets,
foreign relations between Taiwan, China and Cirmaker's other potential target
markets, a general economic downturn, a downturn in the securities markets,
Securities and Exchange Commission regulations which affect trading in the
securities of "penny stocks," and other risks and uncertainties detailed from
time to time in Cirmaker's filings with the Securities and Exchange Commission.
These forward-looking statements represent management's judgment as of the
date of this release. Cirmaker disclaims any intent or obligation to update
these forward-looking statements.
DATASOURCE: Cirmaker Technology Corp.
CONTACT: Charles R. Skeele, General Manager of Cirmaker Technology
Corporation, +1-917-639-4098, ; Public Relations - Truc
N. Nguyen, VP of Stern & Co., +1-212-888-0044, ; Investor
Relations - Robert Giordano, President, +1-212-495-0200, ext. 10,
, or Charles A. Nelson, Vice President, +1-212-495-0200,
ext. 15, , both of ROI Group Associates, Inc., for Cirmaker
Technology Corporation