Thursday, June 9, 2011

Good news show China TechFaith (CNTF) doesn't help share price

Despite China TechFaith reiterated its outlook for Q2 the stock price has been declining for days. TechFaith expects Q2 revenue $82M-$84M, with gross margin levels similar to Q1. TechFaith also announced it will launch a 3D massive motion PC console game, "Legend of the 7 Swordsmen", through its 17Vee Motion Game platform.

Yesterday's news didn't help either.  The company announced it will launch six Android-based smartphones in the third quarter 2011 under its TecFace brand. The new models will be unveiled on a live webcast on June 23 at www.cnmo.com at 14:30 PM Beijing time.

What's happening? Short sellers are on a SEARCH and DESTROY mission?

NOT EVERYTHING IN THE US-LISTED CHINA SPACE IS A FRAUD!

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