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SAN FRANCISCO, May 16 evening news,new griffey shoes 2011,nike bebron james, Techfaith Wireless (Nasdaq: CNTF) announced today that,women griffeys, with Beijing Yizhuang International Investment and Development Company Limited (hereinafter referred to as "Serious International") became a joint venture. The joint venture plans to replace TechFaith and the Serious and International announced in September 2010 a contract,Nike heels, the contract allows the Serious and international order in the next five years,baseball hats, per American Depositary Share for $ 5 will be converted into convertible bonds held by TechFaith Wireless common stock.
for the joint venture,era 59fifty,cardinals hats which is welcomed by all investors, TechFaith will invest 300 million yuan,Nike Air Griffey Max II, while the Serious and International will invest 200 million yuan,air diamond turf, the Beijing Economic and Technological Development Zone a capacity of 10 million smart phones lines. TechFaith will hold 60% of the shares,dunk heels, while the Serious and International will hold the remaining 40% stake.
In this regard,cheap new era hats, the Serious and International Vice President Li Xiaoping said: "We decided to replace the convertible bonds will form a joint venture, mainly for long-term development considerations,kids griffey shoes, rather than short-term interests,jordan high heels, we believe that with the 3G network in the world within the scope of popular demand for smart phones will significantly improve. "
and TechFaith Defu Dong,new era cap, Chairman and CEO,ken griffey jr sneakers 68.258% of the shares.,air max 247, said: "Thanks to Serious and international confidence in us,nike air griffey max gd ii, the joint venture will help achieve the goal of expansion and technological development." (Li)