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MOBI Development Again Obtains the Largest Share in the Bid for 4G Network Construction of a Particular Renowned Chinese Equipment Provider

Hong Kong, Apr 23, 2014 - (ACN Newswire) - MOBI Development Co., Ltd. (MOBI Development, the "Company"; HK:947), a Chinese leading one-stop provider of wireless communication antennas and base station RF subsystems, is pleased to announce that the Company once again becomes the largest provider of antenna system and base station RF subsystem products for a particular Chinese renowned equipment provider during the latter's bid for its 4G network construction.

As wireless network building has boosted in China by the release of issuance of 4G licenses, China Mobile plans to build 270,000 Phase II TD-LTE network stations in 2014. According to its technical bid results published recently: Huawei, ZTE(HK:763), Datang Mobile made the top 3. As a sole company who engaged in self-researching and developing, manufacturing and selling of base station antenna and RF subsystem products in China, MOBI Development has become the largest supplier of antenna system and base station RF subsystem products for one of the equipment suppliers, with further expanded shares and delivery priority. Furthermore, among the bids for the equipment supplier's antenna products, 20%-30% are Multiple-Input Multiple-Output (MIMO) antenna products, which turned a significant increase over last year. Meanwhile, the Company also saw a great increase in its received orders from international equipment providers.

MIMO antennas could support tower-sharing for various types of network, and its technology difficulty of the R&D and mass production substantially exceed those of single frequency antennas. The growth of sales of MIMO antennas will have further support on gross margin. In virtue of long-term cooperation with international equipment providers, the Company is able to predict the demand for this type of product in China and embark on product development ahead of most competitors. So far, the Company has already developed certain kinds of MIMO antennas for LTE deployment in China.

- MOBI Development's First-Quarter Shipment Saw Sharp Increase by approximately 185%

The Company's first-quarter shipment saw multiplied growth year on year, with shipment of antenna products increased approximately 185% and shipment of RF products increased approximately 101%. At the beginning of this year, MOBI Development released a positive profit alert. As benefited from the construction of 4G base stations, the Company turned loss into profit in 2013, realizing net profit of approximately RMB19.06 million, with 3G and 4G RF subsystems increased approximately 160% year on year.

With the release of issuance of 4G licenses, Chinese telecom operators have significantly increased their investment in 4G networks. Last June, China Mobile offered tenders for so called the "largest-ever" phase of TD-LTE network construction in China, with around 207,000 base stations to be purchased and the CAPEX amount exceeding RMB20 billion. The shares obtained by Huawei and ZTE (HK:763) were equally at 26%.

Mr. Hu Xiang, Chairman of MOBI Development Co., Ltd. indicated in March in Hong Kong that the purchase of China Mobile's TD-LTE network construction is arranged by turn-key and the Company has strategic cooperation with major equipment providers. In particular, after being awarded the contract for China Mobile's phase I TD-LTE network construction, ZTE invited tenders from wideband antenna providers based on strict standards concerning technical indicators, size and pricing as well as considering the tests results carried out by China Mobile on antenna providers. Finally, MOBI Development became its supplier with the largest share, among which, shares of the antenna products amounted to approximately 70% and has been increased with the acceleration in shipments.

Mr. Hu Xiang said, "MOBI Development is a leader in the 4G antenna and RF subsystems technology in China. Better placed than peers, it stands to gain enormously from 4G construction".

- Phillip Securities: MOBI Development benefits from 4G, profit likely to increase by 3.7 times this year

MOBI Development is one of the few one-stop providers of wireless communication antennas and base station Radio Frequency ("RF") subsystems in China. Its business consists of the design, manufacture, marketing and sale of antennas, base station RF subsystems and coverage extension solutions. Currently, its clients mainly comprise the major 3 telecom operators in the Chinese mainland and mobile phone producers such as ZTE and Nokia.

Phillip Securities analyzed and pointed out that MOBI Development benefited from the intensive investment in 3G between 2009 and 2010 and made huge profits, recording RMB107 million and RMB84 million in net profit respectively. It is a conservative estimate that its profit for this year would reach the level of 2010. It is estimated that MOBI Development will likely record a profit of RMB90 million, up by 3.7 times and its EPS would likely reach RMB0.11.

About MOBI Development Co. Ltd.

Source: MOBI Development Co. Ltd.

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