HONG KONG--(BUSINESS WIRE)--China Teletech Holding, Inc. (OTCBB: CNCT) (the “Company”, “CNCT”) announced today that it has signed a memorandum of understanding with Global Travelnet Guangzhou Limited on Dec 1, 2012 for cross-selling collaboration to sell CNCT’s pre-paid calling cards through Global Travelnet’s online stores and to sell Global Travelnet’s travel products through the magazine stalls under contract with CNCT.
Global Travelnet is a leading specialized online travel agency in China and it is one of the largest travel distributors on Taobao.com, China’s largest online shopping platform, in the Hong Kong and Macau travel section. Global Travelnet’s main website is www.elvyou.com and its online store at Taobao.com, quhk.taobao.com, is a five-crown rated store and top seller at Taobao.com with a very high feedback rating in customer satisfaction and reliability. Global Travelnet, offering over 500 products which include hotel rooms, theme park admission tickets and transportation vouchers, has a customer database of more than 200,000 with a 15% repeat customer purchase in daily turnover.
About China Teletech Holding, Inc.
The primary business of China Teletech is the sale of pre-paid calling cards and integrated mobile phone handsets and the provision for mobile handset value-added services mainly in Guangzhou City of the People's Republic of China. The Company, while being committed to mobile communications services, is also involved in other sectors such as the mobile telecommunications business cards marketing, research and development of telecommunications software technology and investment projects. Major partners of the Company include China Mobile, China Telecom and China Unicom.
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.