BEIJING, Oct. 18, 2016 /PRNewswire/ -- China TechFaith
Wireless Communication Technology Limited (NASDAQ: CNTF)
("TechFaith" or the "Company") today announced that it has received
occupancy certificates for 7 additional buildings. The latest
buildings are located in the Company's Beijing (Xi Hongmen District) High Tech
Park. The buildings have a total of 31,000 square meters,
which are, available for lease, with another 41,405 square meters
complete and awaiting permitting, and another 28,739 square meters
under construction in this park.
Mr. Deyou Dong, Chief Executive
Officer of TechFaith, said, "This is a major development for
TechFaith and adds to our critical mass of permitted office space
available for lease. We have been meticulous in trying to
ensure high-quality construction levels to meet the required
stringent approval standards. This is consistent with our
brand, which is recognized for excellence in the market.
Based on our track record with other properties and current real
estate demand levels, we are optimistic we will see steady lease
uptake levels for our latest buildings. We are encouraged
with the continued growth in our real estate portfolio, as this
remains a major driver to the Company's bottom line and a key value
creator for all shareholders."
About TechFaith
TechFaith (NASDAQ: CNTF) is a China-based mobile solutions provider for the
global mobile handsets market, with a focus on the original design
and development of specialized mobile handsets for consumers and
enterprises under both our customers' and our own brands, as well
as on the sale of finished products to local and international
customers. Starting in 2008, we began investing in the
construction of buildings and facilities to expand our real estate
portfolio in China as part of our
growth and diversification strategy. For more information, please
visit www.techfaithwireless.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident," "outlook" and similar
statements. TechFaith may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on Forms 20-F and 6-K, among
others, and in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about TechFaith's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, those risks outlined in
TechFaith's filings with the U.S. Securities and Exchange
Commission, including its annual report on Form 20-F. TechFaith
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
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SOURCE China TechFaith Wireless Technology Limited