China news/analysis in brief

• KongZhong (ticker: KONG), a wireless value-added service provider in China, announced that JP Gan would be joining the company as Senior VP of Finance. Mr. Gan had previously worked as a Director of The Carlyle Group responsible for venture capital investments in China.

• China Energy Savings Technology (ticker: CESV.ob), which is engaged in the manufacturing and sales of advanced technology energy-saving products in China, announced that it received approval to list its common stock on the NASDAQ National Market System.

• Qiao Xing Universal Telephone (ticker: XING) announced that three investors will purchase 500,000 shares of the Chinese telecom equipment maker, raising about $3.6 million in proceeds to be used to increase its working capital. The unnamed investors will buy the shares for $7.25 each. In addition, the investors will receive five-year warrants to purchase up to 100,000 shares at $9.86 per share. The stock is currently trading at $5.10.

• Tiens Biotech Group (USA) (ticker: TBGU.ob), a China-based company engaged in the research, development, manufacturing and marketing of healthcare products, announced that it received approval to list its common stock on the American Stock Exchange. This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards. Click here for a profile of TBGU.

• TEDA Travel Group (ticker: TTVL.ob), announced it has signed a Memorandum of Understanding to acquire a majority share in Guangdong Province Tinma International Travel Agency Limited (''Tinma'').  TEDA expects the deal to close within 90 days. With over 20 years of experience in the Chinese travel industry, Tinma has seven locations throughout Guangzhou. It generated approximately $5 million in revenue in 2004. As a Class 1 Travel Agent, Tinma can conduct inbound and outbound travel, book air travel on every major airline in China, and make hotel reservations in virtually every hotel in the province.

Godfrey Hui, TEDA Travel Group CEO said:

....Once this deal is finalized, TEDA Travel Group will benefit from a sizeable increase in revenue and cash flow.  This acquisition ties into our move into the online travel sector as we'll be able to use their existing reservation systems through online interfaces.  However, and most important in all of this constitutes a major part of our goal to become a major player in China's rapidly expanding travel industry.