China VoIP & Digital Telecom Inc. Subsidiary Reports Record First Quarter Revenues
Friday May 18, 9:50 am ET
Jinan Yinquan Technology Co., Ltd. Revenues Increase by More Than 300 Percent
HENDERSON, Nev.--(BUSINESS WIRE)--Jinan Yinquan Technology Co., Ltd., a wholly owned subsidiary of China VoIP & Digital Telecom Inc. (OTCBB:CVDT - News), today reported operating results for the first quarter ended March 31, 2007. Revenues were $988,134 which represents a 322 percent increase over the same period in 2006.
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The Company said it had a net profit of $134,049 compared to $169,800 in the first quarter of 2006. The Company said the decrease was primarily due to incremental costs associated with being a public entity as well as increased marketing and promotional expenditures.
Li Kunwu, President and CEO of China VoIP & Digital Telecom Inc., attributed the sharp increase in revenue to successful marketing efforts and rapid acceptance of the Company's products and services in newly developed markets. He said the infusion of capital as the result of Company's reverse merger has accelerated growth plans by expanding Jinan Yinquan Technology Co., Ltd.'s systems capacity.
"We now have the capability to handle a significantly greater number of customers for our VoIP products," said Kunwu. "We are still in the process of launching our business in Zhejiang and Anhui provinces and if we attain the level of success we are projecting, we anticipate additional increases in revenue."
The Company's proprietary NP Soft Switch IP telephone system enables users to access Voice over the Internet Protocol (VoIP) services allowing customers to use the system to make telephone calls to anyone in the world at a much lower cost than standard telephone rates.
The Company said it currently employees 51 people.
About China VoIP & Digital Telecom Inc.
China VoIP & Digital Telecom Inc. offers Voice over the Internet Protocol service in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co. Ltd. Through Jinan Yinquan, China VoIP is well positioned to take full advantage of the tremendous economic growth currently being experienced in China. The Company is currently marketing its NP Soft Switch system in China and is currently in the testing stage of other Information Technology products. The Company currently has 51 employees and is located in the Shandong Province, People's Republic of China.
More information can be found at www.chinavoip-telecom.com.
Friday May 18, 9:50 am ET
Jinan Yinquan Technology Co., Ltd. Revenues Increase by More Than 300 Percent
HENDERSON, Nev.--(BUSINESS WIRE)--Jinan Yinquan Technology Co., Ltd., a wholly owned subsidiary of China VoIP & Digital Telecom Inc. (OTCBB:CVDT - News), today reported operating results for the first quarter ended March 31, 2007. Revenues were $988,134 which represents a 322 percent increase over the same period in 2006.
ADVERTISEMENT
The Company said it had a net profit of $134,049 compared to $169,800 in the first quarter of 2006. The Company said the decrease was primarily due to incremental costs associated with being a public entity as well as increased marketing and promotional expenditures.
Li Kunwu, President and CEO of China VoIP & Digital Telecom Inc., attributed the sharp increase in revenue to successful marketing efforts and rapid acceptance of the Company's products and services in newly developed markets. He said the infusion of capital as the result of Company's reverse merger has accelerated growth plans by expanding Jinan Yinquan Technology Co., Ltd.'s systems capacity.
"We now have the capability to handle a significantly greater number of customers for our VoIP products," said Kunwu. "We are still in the process of launching our business in Zhejiang and Anhui provinces and if we attain the level of success we are projecting, we anticipate additional increases in revenue."
The Company's proprietary NP Soft Switch IP telephone system enables users to access Voice over the Internet Protocol (VoIP) services allowing customers to use the system to make telephone calls to anyone in the world at a much lower cost than standard telephone rates.
The Company said it currently employees 51 people.
About China VoIP & Digital Telecom Inc.
China VoIP & Digital Telecom Inc. offers Voice over the Internet Protocol service in the People's Republic of China through its wholly owned subsidiary Jinan Yinquan Technology Co. Ltd. Through Jinan Yinquan, China VoIP is well positioned to take full advantage of the tremendous economic growth currently being experienced in China. The Company is currently marketing its NP Soft Switch system in China and is currently in the testing stage of other Information Technology products. The Company currently has 51 employees and is located in the Shandong Province, People's Republic of China.
More information can be found at www.chinavoip-telecom.com.