Editorial Summary

Chinese wireless coverage products and services provider GrenTech Corporation Limited (Nasdaq: GRRF) released full year 2007 results after market close on Thursday. The company's total revenue increased 17.6 percent year-on-year to reach $134.3 million, while net income fell 44.6 percent year-on-year to $11.3 million. In the fourth quarter, total revenue was up 4.8 percent from the year-ago period to $64.7 million and net income was down 31.8 percent to $10.7 million.

GrenTech's China Mobile (NYSE: CHL, 941.HK) revenue was $27.66 million compared to $31.63 million from China Unicom (NYSE: CHU, 762.HK), $463,000 from China Telecom (NYSE: CHA, 728.HK) and $212,000 from China Netcom (NYSE: CN, 906.HK). Revenue from wireless was up 4.2 percent year-on-year with China Unicom's share growing 92.3 percent from the fourth quarter of 2006. Earnings from China Telecom and China Netcom decreased a combined total of 94.4 percent in the quarter due to PHS network reductions. This year, GrenTech intends to strengthen cooperation with Huawei and ZTE.