SHANGHAI, Jan. 7 /PRNewswire-Asia-FirstCall/ -- The Hartcourt Companies,
Inc. (OTC Bulletin Board: HRCT; Frankfurt 900009) ("Hartcourt" or "the
Company"), a growing provider of vocational education and technical training
services in the People's Republic of China ("PRC"), today announced that it
has retained KingWeet AMS to design and execute its investor relations
Hartcourt Companies, Inc. is a holding company for providers of vocational
education and technical training services in China. Hartcourt structures
itself so that its portfolio of companies and affiliates can operate
well-recognized institutions with dominant positions within their regions and
sectors. The company provides its educational services through three channels:
a large educational online portal, educational software and media, and
education and vocational training centers.
As an education resources provider and operator, the company has a leading
interactive business platform, and makes full use of its extensive resources
to go beyond traditional teaching methods and eliminate face-to-face
constraints. The company's management looks forward to collaborating with
KingWeet to raise their visibility in both the investment community and with
the financial media as they embark on the next phase of the company's growth
As China's economy continues to develop, its service industries are
playing an increasingly important role. With greater amounts of disposable
income, Chinese families are spending an even higher percentage of their
disposable income on education. Education expenditure as a percentage of GDP
potentially will grow from 4.0% in 2005 to 4.5% in 2010, according to the
China Education Human Resources Report of 2003.
China's education market is large and growing rapidly due to favorable
demographics, consumer spending trends, and the increased importance placed on
higher and professional education. The company's management believes this will
increase opportunities in the education markets as people continue to seek
advanced skills and professional licenses and certifications.
Hartcourt changed its business model to focus on the education market in
China in order to capitalize on this opportunity. From May 2007 to October
2008, Hartcourt completed the acquisition of China Princely Education
Technology Development Company Limited, an authorized accrediting organization
for China vocational education located in Beijing, PRC, as well as 60% of the
outstanding equity of Beijing Yanyuan Rapido Education Company, a well-known
training institution in China, and 60% of the outstanding equity of China E &
I Development Co. Ltd., which does business as the China Arts and Science
Academy. As of August 20, 2009, Hartcourt signed the definitive agreement to
pursue a reverse take-over acquisition with Sino-Canada Investment Group Inc.,
who is a fast growing diploma and curriculum education service provider with a
strong management team in China.
"Hartcourt is a well established educational service provider in China and
is well positioned to take advantage of a largely untapped, emerging market,"
said Yuhong Qian, President of KingWeet. "We are excited to be working with a
client of Harcourt's caliber whose scalable business model and growth strategy
should enable it to continue to build shareholder value for many years to
About KingWeet International Ltd. After Market Support (KingWeet AMS)
KingWeet AMS is a financial marketing firm specializing in creating
liquidity for publicly traded stocks and a wholly owned subsidiary of Keating
International Ltd. KingWeet AMS is uniquely positioned to provide an
outsourced, high-level investor relations solution that combines in-depth
understanding of China's corporate culture and economic scene with a direct
pipeline into the leading funds and broker-dealers in the United States.
KingWeet AMS is a global, full-service investor relations agency with
corporate headquarters in Hong Kong, and offices in New York, Hong Kong and
Shanghai. For more information, contact KingWeet AMS.
About Hartcourt Companies, Inc.
Founded in 1983, Hartcourt is a U.S. corporation with subsidiaries in
China and other jurisdictions. Hartcourt moved its headquarters to Shanghai,
China in 2002. In August 2006, Hartcourt changed its business model to focus
on the education market in China. From May 2007 to October 2008, Hartcourt
completed the acquisition of China Princely Education Technology Development
Company Limited, an authorized accrediting organization for China vocational
education located in Beijing, PRC; sixty percent of the outstanding equity of
Beijing Yanyuan Rapido Education Company, a well-known training institution in
China; and sixty percent of the outstanding equity of China E & I Development
Co. Ltd., which does business as the China Arts and Science Academy.
The information contained herein includes forward-looking statements.
These statements relate to future events or to our future anticipated
financial performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity,
performance, or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied
by these forward-looking statements. You should not place undue reliance on
forward-looking statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond our control
and which could, and likely will, materially affect actual results, levels of
activity, performance or achievements. Any forward-looking statement reflects
our current views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. We do not intend to publicly
update or revise these forward-looking statements for any reason, or to update
the reasons actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes available in
the future. The safe harbor for forward-looking statements contained in the
Securities Litigation Reform Act of 1995 protects companies from liability for
their forward-looking statements if they comply with the requirements of the
Act. In addition, please refer to the Risk Factor section of our 2008 Form
10--K filed with the Securities and Exchange Commission on May 13, 2009.
For more information, please contact:
Hartcourt Companies, Inc.
Ms. Amanda Zhang, Vice President
KingWeet International Ltd. | AMS
Ms. Chris Chang, President
SOURCE Hartcourt Companies, Inc.