KongZhong Corporation Announces Strategic Alliance Agreement with China Sports Industry Group Co., Ltd.
03 1월 2008 - 10:00PM
PR Newswire (US)
China Sports to Go Wireless with KongZhong in 2008 Olympic Year
BEIJING, Jan. 3 /Xinhua-PRNewswire/ -- KongZhong Corporation
(NASDAQ: KONG), one of China's leading providers of wireless
value-added services and a wireless media company providing news,
content and mobile advertising services through its wireless
Internet sites, announced today that it has signed a strategic
alliance agreement with China Sports Industry Group Co., Ltd.
("CSIG"). Listed on Shanghai Stock Exchange of China, CSIG is
China's largest public company in the sports industry and has the
General Administration of Sports of China as its dominant
shareholder. CSIG's business activities include organizing
commercial sports tournaments, operating sports arenas and fitness
centers, selling sports apparatus and goods, and more. Under the
agreement, KongZhong and CSIG will become strategic partners and
jointly explore business opportunities for developing
sports-related content for mobile phones, including wireless
value-added services and wireless Internet sites. Nick Yang,
President of KongZhong, said, "We are happy about the strategic
alliance with CSIG. The year 2008 is China's Olympic year and
sports year. As people increasingly use their cell phones to enjoy
their favorite sports, cooperation between CSIG and KongZhong can
provide China's over 500 million cell phone users with easier
access to sports-related content through their cell phone screens.
We expect this strategic alliance to generate fruitful results for
both CSIG and KongZhong in 2008 and future years. We also expect to
enter into additional cooperative relationships with other players
in the sports industry to develop our wireless value-added services
and wireless Internet business in the 2008 Olympic year." About
KongZhong: KongZhong Corporation is one of China's leading
providers of wireless value-added services and a wireless media
company providing news, content, community and mobile advertising
services through its wireless Internet sites. The Company delivers
wireless value-added services to consumers in China through
multiple technology platforms including wireless application
protocol (WAP), multimedia messaging service (MMS), JAVA(TM), short
messaging service (SMS), interactive voice response (IVR), and
color ring-back tone (CRBT). The Company also operates three
wireless Internet sites, Kong.net, Ko.cn and cn.NBA.com, which
enable users to access media, entertainment and community content
directly from their mobile phones. Safe Harbor Statement This press
release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
include, without limitation, statements regarding trends in the
wireless value-added services, wireless Internet and mobile
advertising industries, the development of KongZhong's relationship
with China Sports Industry Group Co., Ltd., and the impact of that
relationship on the level of traffic to the Kong.net wireless
Internet portal, as well as on KongZhong's brand awareness,
financial condition, results of operations and business development
in general. Although such statements are based on our own
information and information from other sources we believe to be
reliable, you should not place undue reliance on them. These
statements involve risks and uncertainties, and actual market
trends and our results may differ materially from those expressed
or implied in these forward-looking statements for a variety of
reasons. Potential risks and uncertainties include, but are not
limited to, the potential inability of KongZhong and China Sports
Industry Group Co., Ltd. to develop significant revenue-generating
business from their alliance; continued competitive pressure in
China's wireless value-added services, wireless Internet and mobile
advertising industries and the effect of such pressure on prices;
unpredictable changes in technology, consumer demand and usage
preferences in this market; the state of and any change in our
relationship with China's telecommunications operators; our
dependence on the billing systems of telecommunications operators
for our performance; changes in the regulations or policies of the
Ministry of Information Industry and other relevant government
authorities; and changes in political, economic, legal and social
conditions in China, including the Chinese government's policies
with respect to economic growth, foreign exchange, foreign
investment and entry by foreign companies into China's
telecommunications market. For additional discussion of these risks
and uncertainties and other factors, please see the documents we
file from time to time with the Securities and Exchange Commission.
We assume no obligation to update any forward-looking statements,
which apply only as of the date of this press release. For more
information, please contact: Investor Contact: Sam Sun Chief
Financial Officer Tel: +86-10-8857-6000 Fax: +86-10-8857-5891
Email: Media Contact: Xiaohu Wang Manager Tel: +86-10-8857-6000
Fax: +86-10-8857-5900 Email: DATASOURCE: KongZhong Corporation
CONTACT: Investor Contact - Sam Sun, Chief Financial Officer,
+86-10- 8857-6000, fax, +86-10-8857-5891, or ; or Media Contact -
Xiaohu Wang, Manager, +86-10-8857-6000, or fax, +86-10-8857-5900,
or
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