Cirmaker Technology Lands Contract for Two-Hundred and Forty Thousand Set Top Boxes for Mainland China Worth Approximately $6.6
September 22 2004 - 2:22PM
PR Newswire (US)
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
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