ALERT: TechFaith's HangZhou High Tech Park Reaches 95% Occupancy Rate

BEIJING, Sept. 28, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that its HangZhou High Tech Park has reached a 95% occupancy rate.

TechFaith's Hangzhou High Tech Park comprises 3 current buildings with approximately 43,300 square meters, with a total investment of approximately USD43 Million.  The high tech park boasts a sought after location within the Bin Jiang District (Qiu Yi Road 601) and offers close proximity to major Internet companies making it popular. 

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "We are very encouraged by the strong occupancy rate.  This is another step in our efforts to monetize our investment in real estate.  We will leverage our experience and strategy in HangZhou with our other High Tech Parks as we work to attract suitable tenants or buyers to lease or purchase all available and unused space."

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.

SOURCE China TechFaith Wireless Technology Limited

Related Links

http://www.techfaithwireless.com

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