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Xinwei Telecom signs USD420-million-worth of overseas contracts

BEIJING
2015-09-24 10:37

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Beijing Xinwei Telecom Technology Group (600485.SH) announced Wednesday evening that its controlling subsidiary, Chongqing Xinwei Telecom Technology Co., Ltd., has signed two sales contracts for system facilities of McWill core networks and McWill base stations with WiAfrica Tanzania Ltd.

The two contracts, valuing 420 million U.S. dollars in total, will considerably boost the major business income and profit of Chongqing Xinwei Telecom Technology Co., Ltd. and Beijing Xinwei Telecom Technology Group if they are fulfilled smoothly.

The cooperation of the two sides will also help facilitate the development of Beijing Xinwei Telecom Technology Group's overseas programs.

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