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TechnoConcepts’ Jinshilin Subsidiary Expands Strategic Relationship with Xingqiu
TechnoConcepts Inc. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- TechnoConcepts’ Jinshilin Subsidiary Expands Strategic Relationship with Xingqiu Van Nuys, CA. -- TechnoConcepts, Inc. (OTCBB:TCPS) today announced that its Chinese subsidiary, Jinshilin Techno Ltd. (Jinshilin), has signed an expanded Memorandum of Understanding (MOU) with Changzhou Xingqiu Electronic Co., Ltd. (Xingqiu). Xingqiu is one of China’s largest Home Entertainment manufacturing companies, concentrating on the design, sale and production of high-quality communication devices, high-volume electronics, and other audio and video products. Antonio Turgeon, Chairman and CEO of TechnoConcepts, made the announcement, saying: 'Xingqiu and Jinshilin believe the IPTV set-top box business opportunity can be expanded and can experience significant growth through the development of a broad-based product line providing alternate features and functionality and through the use of additional distribution channels.' Under this expanded MOU, Xingqiu has agreed to assist in the development of Jinshilin’s IPTV set-top box by providing manufacturing engineering and design of IPTV product cases and circuit boards. Both parties have agreed to co-develop marketing and engineering plans for the development of next generation IPTV set-top boxes. Additional functionality that the parties intend to include in their products includes: High Definition, 5.1 Stereo Surround Sound, 'Last Mile' access via WiMAX, and Femto Cell capability and adoption of China’s new AVS standard for video communications. Xingqiu has also agreed to provide the financial resources necessary to fulfill contractual production obligations. Xingqiu plans to qualify IPTV set-top boxes for International standards, such as USA’s UL and European Union’s CE safety standards, enabling exports to USA, Europe and other International markets. Both Xingqiu and Jinshilin intend to leverage existing relationships and distribution channels, such as Alcatel and Best Buy, to expand international sales opportunities.' Mr. Turgeon added: 'We are pleased to enter into this expanded strategic business relationship with Xingqiu. They have decades of product design and manufacturing experience, and they possess the expertise and capacity to deliver Jinshilin's products in a timely and cost effective manner.' Ms. Zhu Qing Fang, President of Xingqiu stated: 'We believe the IPTV set-top market is going to expand rapidly and are pleased to partner with Jinshilin. The partnership between Xingqiu and Jinshilin brings together the engineering, manufacturing and financial resources we expect is necessary to secure significant business in China and abroad.' Jinshilin expects to ship two million Set-Top Boxes by the end of 2008, under its Cooperation Agreement with Shanghai Forests Information Technology Co. Ltd., subject to project authorization by the Television and Broadcast Bureau of the Henan Province in China. Jinshilin believe this strategic association with Xingqiu will ensure that shipments are delivered in compliance with project milestones. Jinshilin is currently working on fulfilling two IPTV set-top-box orders, one for 10,000 units and a second for 100,000 units. About Jinshilin Techno Ltd. Jinshilin Techno Ltd. is TechnoConcepts' subsidiary based in Shanghai, China, providing marketing support for True Software Radio® technology in China. Jinshilin also designs and sells products for Internet Television (IPTV), Stream Media Protocol Processing, and Broadcasting Software for IPTV-Set-Top Boxes. Jinshilin expects future generation set-top boxes will support multi-protocol wireless connectivity with television, DVD players and other multi-media appliances, by integrating TechnoConcepts' True Software Radio® technology. About Changzhou Xingqiu Electronic Co., Ltd. Changzhou Xingqiu Electronic Co. Ltd. concentrates on the design, sales and production of high-quality communication devices, high-volume commercial electronics, and Audio and Video products. Xingqiu researches and develops hi-tech products to satisfy specific customers' needs. Products include GPS, DVD Players, Portable DVD Players, Car DVD Players, Digital DVD Home Theater products, DVD+RWs, TFT TVs, large-screen displays, and others. Xingqiu earned the ISO9001:2000 International Accreditation for their strict and effective quality assurance system. Xingqiu's products comply with international authority safety standards, such as America's UL and European Union's CE. In the challenging global environment, Xingqiu insists on expanding its markets by focusing on first-class products, reliable quality, cost competency, and superior service. Xingqiu's DVD products and audio products have been exported to dozens of countries, including U.S.A., Germany, U.K., France, Japan, Italy and Holland. The company is located in City of Changzhou, Jiangsu province, China. About TechnoConcepts Inc. TechnoConcepts (OTCBB:TCPS) designs, develops and markets semiconductors for wireless communications. The company has developed and patented True Software Radio®, a proprietary technology that creates convergence for the wireless industry. True Software Radio® chipsets are designed to enable cell phones, PDAs, laptops, and infrastructure with different radio frequencies, standards, and protocols to adjust by software command so that they can communicate across otherwise incompatible networks, without the need for multiple radios. True Software Radio® chipsets replace the front end, I/F processing, ADC, and digital filtering sections of radios. Because the technology simplifies design and reduces component costs, the Company believes that True Software Radio® is an ideal platform for Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) to develop new wireless broadband, mobile data, cellular, and other next-generation wireless applications. More information is available at www.technoconcepts.com. Safe Harbor Statement under the Private Litigation Reform Act of 1995 Forward-looking statements in this release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate, among other things to expected financial and operating results, the expected acceptance of the company's products, the usefulness and benefits of the company's products generally and the acceptance of the company's technological solutions and its ability to achieve its goals, plans and objectives. The risks and uncertainties that may affect forward-looking statements include among others: difficulties providing solutions that meet the needs of customers, difficulty in developing new products, difficulty in relationships with vendors and partners, difficulty in introducing products in the marketplace and gaining acceptance of the same, difficulty gaining necessary governmental approvals, difficulty facing the intense competition present in the wireless communications industry, the Company's limited operating history, its inexperience in operating internationally, fluctuations of international currency exchange rates, and difficulty managing rapid growth. For a more detail discussion of the risks and uncertainties of TechnoConcepts' business, please refer to the company's Annual Report on Form 10-KSB for the fiscal year ended September 30, 2006, filed with the Securities and Exchange Commission, and as subsequently amended. The company assumes no obligation to update any forward-looking statement contained in this press release or with respect to the announcements described herein. TechnoConcepts Contact Information Wolfe Axelrod Weinberger Associates, LLC Investors: Donald C. Weinberger, 212-370-4500 Managing Member don@wolfeaxelrod.com or Martin E. Janis & Company, Inc. Media: Beverly Jedynak, 312-943-1100 ext. 12 President bjedynak@janispr.com DGAP 09.05.2007 ----------------------------------------------------------------------
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