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CECU Cec Unet

1.75
0.00 (0.00%)
04 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cec Unet LSE:CECU London Ordinary Share IE00B18P2H40 ORD EUR0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.75 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

China Mobile Agreement

07/01/2008 3:39pm

UK Regulatory


RNS Number:2359L
CEC UNET PLC
07 January 2008



                                  CEC Unet Plc

              CEC Unet announces mobile top up services agreement
                          with China Mobile (Beijing)


London, Beijing, 7 January 2007: CEC Unet plc, the Chinese mobile media services
company listed on AIM (AIM: CECU) today announced that it has entered into an
agreement with China Mobile (Beijing) to obtain rights to sell mobile top-up
services to users of China Mobile's services in Beijing-China's capital city and
the host of the 2008 Summer Olympic Games.

China Mobile (Beijing) is a wholly-owned subsidiary of China Mobile Limited,
China's leading mobile services provider with over 350 million mobile users
nationwide.

Through this agreement, CEC Unet secures its third foothold-and first market in
northern China-for mobile top-up services.

The Company already operates in central Henan Province and southern Guangdong
Province, where it provides mobile top-up services to approximately 7 million
mobile users through 50,000 retail terminals.

As of late December 2007, sales (gross revenues) in these two provinces amounted
to 6 million RMB (approximately £420,000) per day, or an annualised run rate of
over 2.1 billion RMB (over £146 m) per year. In Guangdong province alone, the
Company has experienced 70% month-to-month sales growth since inception.

Beijing is one of northern China's leading markets for mobile top-up services.
In 2008, CEC Unet plans to capture market share in Beijing by moving quickly to
sign up retail outlets that will serve as its sales agents. The company will
launch its services later this month.

Mr Li Gang, Chief Executive Officer of CEC Unet commented, "We are proud to
partner with China Mobile (Beijing) and offer our top-up services to mobile
users in Beijing. Beijing is an important market to us both symbolically and
strategically, because it is our nation's capital and host to the 2008 Olympic
Games. We anticipate strong growth here in 2008 and plan to use the footprint we
establish to expand into other northern Chinese provinces in 2008 and 2009."

                                     -ends-


Enquiries:

Brunswick Group LLP                           020 7404 5959
James Hogan / Carole Cable


Blue Oar Securities
William Vandyk                                020 7448 4400


About CEC Unet:

CEC Unet Plc (AIM: CECU) is a Chinese mobile media and services company based
out of Beijing. CEC Unet is focused on two related, but separate areas in 
China's mobile industry: content and services, and, distribution and payment.

With our unique combination of assets, distribution network and highly
experienced management we are in a position to capitalise on an historic
opportunity in China's mobile services industry.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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