KanHan Technologies Group Limited Recorded Satisfactory Performance On First Trading Day

[25 February, 2003, Hong Kong] ─ KanHan Technologies Group Limited (“KanHan” or the “Group”; stock code: 8175) commenced trading of its shares on the Growth Enterprise Market (“GEM”) of The Stock Exchange of Hong Kong Limited (the "SEHK") today.

The highest price today was HK$0.34. HK$ 7,840,000 shares changed hands.

South China Capital Limited is the Sponsor of the share offer and South China Securities Limited is the Lead Manager.

KanHan received satisfactory response from investors during its share offer. Total 120,000,000 shares, including 60,000,000 New Shares and 60,000,000 Sale Shares initially available for Placing were about 1 time subscribed. The amount raised was approximately HK$39.6 million.

Commenting on the share performance today, Mr. Lawrence Mo, Chief Executive Officer of KanHan said, "We are so delighted to see that investors have great confidence in us, which can be shown from the encouraging response in the placing and the satisfactory share performance today. On behalf of KanHan, I would like to thank our investors and the public for their generous support."

Mr. Mo added, “We see 2003 as a year full of immense opportunities. The rapid increase in foreign direct investment and cultural exchange between the PRC, Taiwan and Hong Kong also lead to a desperate need of an effective and accurate translation tools between the 2 Chinese. Furthermore, with the PRC’s accession to the WTO and the advanced developments in 3G mobile handsets have created substantial market opportunities for our Group’s unique Chinese communications software platform. Given our acute R&D focus, we are confident that 2003 will be a fruitful year for our Group.”

Regarding the future prospects of the Group, Mr. Mo concluded, “Given the immense market opportunities in the PRC, we plan to further expand our distribution network to the PRC, especially around the main city areas of Beijing and Shanghai. Through an effective marketing penetration in the PRC, we hope we can gradually build up our market presence in the huge PRC market, establishing our prestige among current and potential corporate clients and government bodies in the Greater China Region.”

 
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