China GrenTech Wins China Broadcasting Corporation Bid for the China Mobile Multimedia Broadcasting Network

SHENZHEN, China, Oct. 28 /PRNewswire-Asia-FirstCall/ -- China GrenTech Corporation Limited (Nasdaq: GRRF) ("GrenTech" or the "Company), a leading China-based provider of radio frequency ("RF") and wireless coverage products and services, today announced that the Company has won bids from China Broadcasting Corporation to supply equipment and integration services for the China Mobile Multimedia Broadcasting (CMMB) project.

GrenTech achieved a remarkable performance in this bidding process to become the only vendor to win all 7 bid sections among 34 bidding companies. The tender includes indoor and outdoor low-power transmitter, indoor antenna, passive components, among others.

"We are pleased to announce our successful participation at the China Broadcasting Corporation bidding process," said Mr. Yingjie Gao, GrenTech's Chairman and Chief Executive Officer. "Our success in this bid reaffirms our position as one of the leading providers of radio frequency technology and wireless coverage products and services in China with an exciting pipeline of new products to come."

China Mobile Multimedia Broadcasting (CMMB) is a mobile television and multimedia standard developed and specified in China by the State Administration of Radio, Film, and Television.  GrenTech's successful participation in the bid process for this multimedia broadcasting coverage project demonstrates that the Company is well positioned to benefit from the CMMB network construction.

About China GrenTech

GrenTech is a leading developer of radio frequency ("RF") technology in China and a leading provider of wireless coverage products and services in China. The Company uses RF technology to design and manufacture wireless coverage products, which enable telecommunication operators to expand the reach of their wireless communication networks to indoor and outdoor areas, such as buildings, highways, railways, tunnels and remote regions. GrenTech's wireless coverage services include design, installation and project warranty services. The Company also tailors the design and configuration of its wireless coverage products to the specific requirements of its customers.

Based on its in-house RF technology platform, the Company also develops and produces base station RF parts and components sold to base station manufacturers. GrenTech is a qualified supplier of RF parts and components to major global and domestic base station manufacturers. For more information, please visit www.GrenTech.com.cn.

Safe Harbor Statement

Statements contained in this press release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause the Company's actual results to differ materially from its current expectations. Factors that could cause the Company's results to differ materially from those set forth in these forward-looking statements include: the Company's reliance on business relationships with the Chinese telecommunications operators and base station equipment manufacturers; the risk that the Company will continue to experience downward pressure on the pricing of its products and services due to the telecommunications operators' bidding policies or other factors; the risk that the telecommunications operators in China will not expand or maintain their spending on 2G, 3G, WLAN or other network projects or that the Company will not be successful in future bids for tenders held by the operators; uncertainty as to the future demand for base station RF products by domestic or international base station equipment manufacturers, including the risk that demand in China or elsewhere for base stations may not grow as the Company's management anticipates due to shortages of international components or other factors beyond the Company's control; risks associated with large accounts receivable, long collection periods and accounts receivable cycles and the Company's ability to maintain or improve its recently decreasing collection periods; fierce competition in the wireless communication industry; growth of, and risks inherent in, the wireless communication industry in China, including uncertainties regarding the timing and nature of any future restructuring of the telecommunications operators in China; uncertainty as to future profitability and the Company's ability to obtain adequate financing for its planned capital expenditure requirements; uncertainty as to its ability to continuously develop and manufacture new RF technologies and keep up with changes in RF technologies or to develop new markets for wireless coverage products and services such as industrial users; risks associated with possible defects and errors in its wireless coverage products or base station RF products; uncertainty as to the Company's ability to protect and enforce its intellectual property rights; and uncertainty as to the Company's ability to attract and retain qualified executives and personnel, particularly in its research and development department; risks associated with the Company's ability to successful deliver equipment for the China Multimedia Mobile Broadcasting network; risks associated with possible defects and errors in equipments supplied to the China Multimedia Mobile Broadcasting network. Other factors that may causes the Company's actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect its prospects in general are described in the Company's filings with the Securities and Exchange Commission, including its Registration Statement on Form F-1 related to its initial public offering and its annual reports on Form 20-F. The Company undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.

SOURCE China Grentech Corporation Limited

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