BEIJING, July 12, 2018 /PRNewswire/ — China TechFaith Wireless Communication Technology Bound (CNTF) (“TechFaith” or the “Company”) today appear that Techfaith Wireless Technology Group Bound (“TechFaith Wireless”), a wholly-owned accessory of the Company, has entered into a allotment acquirement acceding (the “Agreement”) with an different third party, pursuant to which TechFaith Wireless will advertise its 100% buying in Charm Faith Limited, a wholly-owned accessory of TechFaith Wireless, for a absolute application of RMB710 million, accountable to assertive amount acclimation mechanisms and a abundant chapter acquittal schedule. The chapter payments and cleanup of the transaction pursuant to the Acceding are accountable to achievement of assertive activity milestones and closing conditions. Through its wholly-owned accessory amid in China, Charm Faith Bound owns a activity including 3 already complete barrio and 4 barrio beneath construction. TechFaith expects to use the gain from the auction for accepted accumulated purposes, added development of its ruggedized acute accessories business and the reinvestment into new appointment amplitude development opportunities.
TechFaith (NASDAQ: CNTF) is a developer, buyer and abettor of bartering absolute acreage backdrop beyond China as able-bodied as a China-based adaptable solutions provider for the all-around adaptable handsets market. TechFaith continues to advance a aggregation of able engineers focused on the development of ruggedized acute accessories for both its customer and action segments, although it started advance in the architecture of barrio and accessories in 2009 as allotment of its advance and business about-face strategy, gradually alive abroad from its acceptable focus on the adaptable solutions and handset markets. The Company currently focuses on developing appointment amplitude that can serve as ballast bases in areas with developing economies, as it meets the needs of both accustomed businesses and avant-garde start-up companies in China. For added information, amuse appointment www.techfaithwireless.com.
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This advertisement contains advanced statements. These statements are fabricated beneath the “safe harbor” accoutrement of the U.S. Private Securities Litigation Reform Act of 1995. These advanced statements can be articular by analogue such as “will,””expects,””anticipates,””future,””intends,””plans,””believes,””estimates,””confident,””outlook” and agnate statements. TechFaith may additionally accomplish accounting or articulate advanced statements in its alternate letters to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, amid others, and in its anniversary address to shareholders, in columnist releases and added accounting abstracts and in articulate statements fabricated by its officers, admiral or advisers to third parties. Statements that are not absolute facts, including statements about TechFaith’s behavior and expectations, are advanced statements. Advanced statements absorb inherent risks and uncertainties. A cardinal of important factors could account absolute after-effects to alter materially from those independent in any advanced statement. Potential risks and uncertainties include, but are not bound to, those risks categorical in TechFaith’s filings with the U.S. Securities and Exchange Commission, including its anniversary address on Form 20-F. TechFaith does not undertake any obligation to amend any advanced statement, except as appropriate beneath applicative law.
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