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China Unicom (Hong Kong) Ltd.

China Unicom (Hong Kong) Ltd.

Sector: Radiotelephone Communications Region: Hong Kong

: | New York Stock Exchange: CHU | OTC Markets: CHUFF | XETRA: XCI | Hong Kong Stock Exchange: 762

Listed in: Communications

Similar to: AltiGen Communications, Inc., Afone SA

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China Unicom, China Telecom start iPhone 5 pre-orders

The success and sales numbers of the brandnew iPhone 5 still remains to be seen. The US tech giant has announced it will land the latest version in the Chinese mainland market on December 14th, adding to the festive spirits of many Chinese Apple fans. Two of China's largest telecom operators will offer attractive pre-sale reservation choices to lure customers. Apple's newest handset will launch on the mainland Friday in a week. Two of the country's biggest providers, China Telecom and China Unicom, have been locked in a fierce competition to be the first to sell the iPhone5 in the country. On Sunday already, China Telecom started to take orders. Enthusiasm was in the air. A Guangdong resident said, "I am a big fan of the iPhone 5. I only need to put down 100 yuan to pre-order it and pay 5780 yuan after my reservation is processed." China Unicom swiftly followed suit. Pre-orders for the device have already exceeded 100,000 on the first day of pre-sales. A salesperson said, "Customers are required to show their ID cards and their personal details to reserve an iPhone5. They should pay 100 yuan and later will get a rebate of 500 yuan." China Telecom's iPhone5 with a contract will cost 5780 yuan, or 100 yuan cheaper than China's Unicom's price. Industry insiders say the strong rivalry shows the operators are keen to seek a higher share in the 3G market through Apple's smart phones. The two networks both saw more than three million new 3G subscribers in October.

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Executives

Chang Xiaobing, Executive Director, Chairman and Chief Executive Officer
Chang Xiaobing, male, Han nationality, is a native of Hebei province. He was born in 1957, joined the CPC in 1976, graduated from the Nanjing Institute of Posts and Telecommunications, received a M.B.A. degree from Tsinghua University, and received a doctorate of business administration from Hong Kong Polytechnic University. He has over twenty years of operational and managerial experience in the telecommunications industry. He is a senior engineer.
He served as director of the telecommunications administration department of the Ministry of Information Industry until 2004, and he was appointed as chairman of China Unicom (China United Telecommunications Corporation Limited) in that same year.
Lu Yimin, Executive Director and President
Aged 49, was appointed as an Executive Director of the Company in October 2008 and President of the Company in February 2009. Mr. Lu, a researcher level senior engineer, graduated from Shanghai Jiao Tong University with a bachelor’s degree in computer science in 1985 and then was awarded a master’s degree in public administration by the John F. Kennedy School of Government at Harvard University. Mr. Lu joined China Network Communications Group Corporation (“Netcom Group”) in December 2007, serving as senior management. Mr. Lu has served as a Non-Executive Director of PCCW Limited (“PCCW”, listed on the Hong Kong Stock Exchange with an American Depositary Receipt trading on the Pink Sheets’ OTC Market in the U.S.) since May 2008 and the Deputy Chairman of PCCW since November 2011. Mr. Lu has served as a Non-Executive Director of HKT Limited (HKT Trust and HKT Limited are listed on the Hong Kong Stock Exchange) and HKT Management Limited (the trustee-manager of the HKT Trust) since November 2011. Prior to joining the Netcom Group, Mr. Lu was a member of the Secretary Bureau of the General Office of the Chinese Communist Party Central Committee, serving as the Deputy Director and the Director of the Information Processing Office since 1992, Secretary at deputy director general level since 2001 and Secretary at director general level since 2005. Mr. Lu is Vice Chairman and President of Unicom Group. Mr. Lu is also a Director and President of A Share Company, and a Director and President of CUCL. Mr. Lu has extensive experience in government administration and business management.
Li Fushen, Executive Director and Chief Financial Officer
Aged 50, was appointed in March 2011 as an Executive Director and Chief Financial Officer of the Company. Mr. Li graduated from the Jilin Engineering Institute with a degree in engineering management in 1988, and from the Australian National University with a master’s degree in management in 2004. From November 2001 to October 2003, Mr. Li served as Deputy General Manager of the former Jilin Provincial Telecommunications Company and Jilin Communications Company. From October 2003 to August 2005, Mr. Li served as General Manager of the Finance Department of Netcom Group. Since October 2005, he has served as the Chief Accountant of Netcom Group. He has served as Chief Financial Officer of China Netcom Group Corporation (Hong Kong) Limited (“China Netcom”) since September 2005 and has served as Executive Director of China Netcom since January 2007. From December 2006 to March 2008, Mr. Li served as Joint Company Secretary of China Netcom. From February 2009 to March 2011, Mr. Li served as a Senior Vice President of the Company. In addition, Mr. Li has served as a Non-Executive Director of PCCW Limited (listed on the Hong Kong Stock Exchange with an American Depositary Receipt trading on the Pink Sheets’ OTC Market in the U.S.) since July 2007, and a Non-Executive Director of HKT Limited (HKT Trust and HKT Limited are listed on the Hong Kong Stock Exchange) and HKT Management Limited (the trustee-manager of the HKT Trust) since November 2011. Mr. Li is a Director, Vice President and Chief Accountant of Unicom Group, a Director of A Share Company, as well as Director and Senior Vice President of CUCL. Mr. Li has worked in the telecommunications industry for a long period of time and has extensive management experience.

News & Analysis

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